What is going to change for income tax payers from today?

A set of changes related to income tax are coming into effect from the first day of the new financial year. One of the highlights is the 30% tax on cryptocurrency gains. What are the other changes?

As the new financial year brings new tax rules, taxpayers should bear in mind that the deadline for filing late income tax returns for Assessment Year 2021–22 was March 31.

If an assessee missed this deadline, he or she will have to pay a penalty and interest, and may even face imprisonment for violation.

Further, not linking PAN with Aadhaar from today will carry a penalty…read more

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