It is very important to note that from July many things will be noticed when it comes to the prices. Many things have changed from today onwards. Some things become cheaper like gas cylinders whereas some show an increase in their prices.
These changes will surely affect everyone's income and savings in India. As they are necessities of Every individual, they can't be skipped from their wallet. So it's important to know what changes have taken place like there is a decrease in the price of the commercial cylinder where linking of Aadhar and Pan cards have become costlier than before and many more
Have a look at 7 changes that you will see from 1 July.
1. Linking of Aadhar and pan card will show a rise in price by ₹500.
Earlier customers have to pay only ₹500 for linking their Aadhar Cards and Pen Cards but now they have to pay the double amount directly of ₹1000 from 1 July. The prices are doubled.
Commercial gas cylinders have become cheaper.
2. Fall in the price of commercial gas cylinders will be seen from 1 July onwards.
In Delhi, commercial gas cylinders of 19 kgs which are worth ₹2219 will be available in ₹2021. Same as in Kolkata, a cylinder of ₹2322 will be sold for ₹2140. In Mumbai also there is a fall in prices from ₹2171.50 to ₹1981 and in Chennai, it has fallen from ₹2373 to ₹2186.
According to this the gas cylinder's price in Delhi, Kolkata, Mumbai and Chennai has fallen by ₹198, ₹182, ₹ 190.50 and ₹187 respectively. In June, there was a decrease in the price of domestic cylinders by ₹135. Companies didn't give any relaxation on prices and now the 14.2 kg gas cylinder has a worth of ₹1003.
3. TDS will be applied for Trading in Cryptocurrency.
The Income-tax department has introduced taxes on Digital Assets(VDA) which is TDS. This will include all types of digital currency platforms. If anyone makes an income of ₹10,000 by trading on Cryptocurrency, they have to pay 1% as tax.
4. Demate accounts without KYC will be deactivated.
The last date to complete KYC of Demat and Trading accounts was 30 June 2022. If anyone's account doesn't have KYC now, their accounts will be deactivated. You can't trade now in stock markets and if anyone already bought the shares of any company then these shares will not be transferred to their accounts.
5. People have to give 10% TDS on Business Gifts.
People have to pay 10% tax which is TDS on business-related gifts. This tax will be given to doctors and social media influencers. However social media influencers have to pay tax only if they keep the products which companies provide them for marketing. If they return the products after promotion no tax will be applied to them.
6. Rise in the prices of Bikes.
There has been an increase in the price of two-wheeler vehicles from July 1. Hero Motocorp has increased the prices by ₹3000 for its Brand. The reason for the sudden rise in prices is inflation and an increase in the prices of raw materials.
7. Toll tax has also been increased.
On the Delhi-Dehradun highway (NH 58), there will be an increase in the toll tax. In a lockdown, there was no rise in Toll tax, but now people passing through this highway have to pay ₹5 to ₹80 more. This was implemented on 30 June 2022.
These changes will surely affect people's pockets due to inflation.