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Come July and there are several changes that have come into effect ranging from TDS on cryptos to bike prices. Read on to know more...
The new month has started and many changes have come about which will directly affect your pocket. There are some rules which are reviewed on the first of every month. For example, the change in the prices of gas cylinders, CNG-PNG is announced on the first date of every month. However, this time there has been no change in the prices of gas cylinders and CNG PNG. So let’s know which rules have changed from the first day of July.
Beware of investing in crypto
From July 1, there has been a change in the rules for those investing in cryptocurrency. Investors of cryptocurrency will also have to pay one percent additional TDS after 30 percent tax. Even if an investor makes a loss in this, it will be mandatory to pay TDS. The government has implemented this rule so that it can be ascertained that how much the person in the country is investing in this virtual currency.
Ban on poor quality footwear
From July 1, a change is also related to your footwear. The Central Government has announced the implementation of Quality Control Order (QCO) across the country. That is there will be a ban on the sale of poor quality shoes and slippers in the country. It is mandatory for all footwear companies to follow this rule of the government.
RBI savings bond rate changes
The rules for investing in RBI’s floating rate savings bonds are also changed. From July 1, 2023, the interest rate available on these has become more than the FDs of the banks. Till now interest was being given on this bond at the rate of 7.35 percent. Now it can be changed.
Hero bikes get expensive
Those who buy two wheelers have got a big shock. Hero MotoCorp, the leading company of this sector, has announced an increase in the price of motorcycles and scooters by up to 1.5 percent from July 3. According to the information given by the company, the prices will be decided on the basis of different models and markets. The company has taken this decision due to increase in cost and other reasons. Prices were raised by 2% in April also.