The new rule related to TDS on Virtual wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital Asset (VDA) and Crypto (Crypto) will be applicable from July 1, 2022. After the implementation of this rule, from July 1, those investing in crypto will have to deposit TDS at the rate of one percent on all types of crypto transactions.

With the beginning of every month, there are changes in many rules related to banking, tax, PAN and Aadhaar. The direct impact of these changes is visible on the pockets of the common people. There are going to be changes in many types of rules from the month of July as well. These include increase in penalty for linking PAN with Aadhaar, deadline related to demat KYC, new rules related to credit cards, changes related to TDS on crypto. Let us know which five rules are going to change from July…

1. TDS on Crypto Transactions: From July 1, 2022, the new rule related to TDS on Virtual wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital Asset (VDA) and Crypto (Crypto) will be applicable. After the implementation of this rule, from July 1, those investing in crypto will have to deposit TDS at the rate of one percent on all types of crypto transactions.

2. Double Penalty on PAN-Aadhaar Linking: If you link Aadhaar Card with PAN Card on or before june 30, 2022, you will have to pay a fine of Rs 500. At the same time, linking PAN with Aadhaar after July 1, 2022 will attract a fine of Rs 1,000.

3. Deadline related to KYC update of Demat Account: The deadline for updating KYC in already existing Demat and Trading accounts is ending on june 30, 2022. The demat, trading account holder will have to update these details for KYC: Name, Address, PAN, Valid mobile Number, Valid Email ID and Range of Income. All these details related to KYC will be required to be updated for all demat accounts opened after june 1, 2021.

4. New rules related to credit cards: The rules related to billing of credit cards and the rules related to closure of credit cards are going to change from July.

5. NPS Risk Profiling: According to the PFRDA circular, subscribers investing in different asset classes associated with pension fund schemes will now have to be prepared for exposure to different levels of risk.