New Crypto Tax Rules 2022: Know What’s Changing From 1st April

If you are a cryptocurrency investor then beware as new tax rules are going to be in effect on 1^st April 2022. The rules were already mentioned in the Union Budget 2022 and are now applicable from the beginning of the financial year. Learn here what will get changed.

Tax Rules For Crypto Users

What's Changing For Taxpayers?

Interest earned on the PF contributions of more than Rs 2.5 Lakh/year will be taxable

For IT Returns

You will be able to file updated IT returns in the new financial year. If you have made any mistake while filing the return for the first time, then you can correct it and file the return for the second time. Please note that updated IT returns can be filed up to 2 years after the assessment year.

For Government Employees

State government employees can claim a deduction for NPS contributions up to 14% of their basic salary and dearness allowance as per section 80CCD (2). This will be equal to the deduction available to Central Government employees.

For Covid Treatment

Tax exemption has been given on the money received for the treatment of corona. After the death of a person from Corona, the money received by his family has also been kept out of the purview of tax. For this, it is necessary that the money is received within 12 months of death due to Covid and the amount received should not exceed 10 lakhs.