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From crypto tax liability to your provident fund becoming taxable, April 1 brings in sweeping changes into your tax planning. Here is the latest update you need to take a note of:Provident Fund becomes taxable&nbsp;The government has decided to tax the interest income from the Provident Fund account from April 1. If the contribution is below&nbsp;₹2.5 lakh, no tax will be levied. However if the contribution exceeds&nbsp;₹2.5 lakh - then the interest income will be taxed.Crypto&nbsp;tax kicks off&nbsp;Income from transactions in virtual digital assets will attract a tax of 30 percent From April 1. As clarified by the Finance Ministry no loss can be offset against the gain so each profitable transaction will attract the 30 per cent tax liability.&nbsp;Apart from this, there will be a 1 per cent TDS and gift tax under certain conditions to be paid by the receiver of such digital asset as a gift.
Filing of updated ITRTaxpayers will be able to file an updated return from April 1 to eliminate errors or mistakes done in income tax returns. The updated return can be filed within two years from the end of the relevant assessment year.
Tax relief for persons with disabilityWhen the parent or guardian of a differently-abled person can take an insurance scheme for the latter, they would be eligible to deduction from gross income before tax subject to certain conditions.

 Big tax changes from April 1: Crypto, EPF, ITR all the latest updates

From crypto tax liability to your provident fund becoming taxable, April 1 brings in sweeping changes into your tax planning. Here is the latest update you need to take a note of:

Big tax changes from April 1

Income tax on crypto assets, filing of updated returns, new tax rules on EPF interest all kick in from April 1&nbsp;

From crypto tax liability to your provident fund becoming taxable, April 1 brings in sweeping changes into your tax planning. Here is the latest update you need to take a note of: Provident Fund becomes taxable&nbsp; The government has decided to tax the interest income from the Provident Fund account from April 1. If the contribution is below&nbsp;₹2.5 lakh, no tax will be levied. However if the contribution exceeds&nbsp;₹2.5 lakh - then the interest income will be taxed. Crypto&nbsp;tax kicks off&nbsp; Income from transactions in virtual digital assets will attract a tax of 30 percent From April 1. As clarified by the Finance Ministry no loss can be offset against the gain so each profitable transaction will attract the 30 per cent tax liability.&nbsp; Apart from this, there will be a 1 per cent TDS and gift tax under certain conditions to be paid by the receiver of such digital asset as a gift.
Filing of updated ITR Taxpayers will be able to file an updated return from April 1 to eliminate errors or mistakes done in income tax returns. The updated return can be filed within two years from the end of the relevant assessment year.
Tax relief for persons with disability When the parent or guardian of a differently-abled person can take an insurance scheme for the latter, they would be eligible to deduction from gross income before tax subject to certain conditions.

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