LPG Price News: The new financial year of the year 2022 which will start from the month of April. Some changes are being made by the government in the new financial year. Just as the inflation is rising day by day, in the same means the pockets of the individuals are getting unfastened. As now you will have to pay tax on PF account and crypto foreign money, in the same means fuel value may increase, equally you may also cease getting further low cost on house mortgage. Along with this, the government is also making other changes, due to which your expenditure can increase more. Today we are going to inform you about the LPG objects in which the value is going to increase from April 1, 2022, so let’s know the info associated to it.
- Tax will be levied on PF account The government is making many changes from April 1, in which one change is also that from now on your PF account will be taxed. Tax free contribution limit is being imposed in EPF account up to Rs 2.5 lakh. Interest income will be taxed if the contribution exceeds Rs. Along with this, the limit of free contribution in the GPF account of government workers will also be fastened at Rs 5 lakh yearly.
- Tax on crypto foreign money: In the budget 2022-23, Finance Minister Nirmala Sitharaman has introduced a 30% tax on all digital digital property or crypto, if the investor positive aspects on crypto foreign money, then he will have to pay tax to the government.
- Additional low cost on house mortgage will finish In the budget of 2019, the government had included a new section 80 EEA in the Income Tax Act. Let us inform, under this section, it was offered that the citizens who purchase a home for the first time are given the profit of deduction of further tax up to Rs 1.5 lakh on house mortgage curiosity payment. This profit is in addition to the tax exemption on house mortgage curiosity up to Rs 2 lakh under section 24. But in the year 2022, this section will not be prolonged any additional.
- medicines will be costly In the financial year of 2022, the expenditure of citizens on medicines is also going to increase. There is going to be an increase of 10.7% on the prices of more than 800 medicines. In which the fever medication Paracetamol has also been included. The National Pharmaceutical Pricing Authority (NPPA) has also given approval to the government to change the wholesale value index of these medicines.
- Interest will not be available in cash in the publish workplace Changes are also being made in the guidelines associated to investment in Post Office Monthly Income Scheme, Senior Citizen Saving Scheme, Post Office Term Deposits. In these publish workplace schemes, the curiosity quantity will not be available in cash. For this, the citizen has to open a financial savings account. Along with this, any citizens who have not linked their publish workplace account or checking account with these schemes, they will be required to get it linked, only then curiosity will be paid instantly in their account.
- The rule of GST e-invoicing will change: CBIC (Central Board of Indirect Taxes and Customs) has lowered the turnover limit for issuance of digital challans under Goods and Services Tax from Rs 50 crores to Rs 20 crores. Let us inform you, this rule will also be issued from April.
- Mutual funds will only have digital funds If you make investments in mutual funds, then from this April you will not be in a position to make payment by cheque, financial institution draft and any other bodily methodology. MFU (Mutual Fund Aggregation Portal MF Utilities is discontinuing the service of checks and demand drafts with impact from March 31, 2022, now prospects only need to use UPI and internet banking to make investments.
- LPG prices may increase: The value of LPG is rising constantly. There is a chance that in this financial year it will once more increase by Rs 50 to 100. Due to elections in 5 states including UP, Punjab, there has been reduction in LPG cylinders and petrol diesel.
- The value of automobile corporations will increase : Some large automobile corporations are going to increase the prices of their automobiles. In which Tata Motors can increase the prices of its business automobiles by up to 2.5%. Along with this, Mercedes-Benz India has decided to increase its automobile prices by 3%, Toyota by 4%, BMW by 3.5% on its automobile prices.
- Large minimum financial institution stability limit in Axis Bank Customers who have wage or financial savings account with Axis Bank. Trillion is very surprising for all of them. Now from April 2022, Axis Bank has elevated the minimum financial institution stability limit in its financial savings account from 10 thousand to 12 thousand. Along with this, the limit for free cash withdrawal has been modified to Rs 1.5 lakh.
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