The rules of the Stock market will change from 1st April in India. | The government brought a new app for taxpayers.

 The rules of Stock market will change from 1st April:
 

Be careful if you invest money in the stock market. There is going to be a change in the rules from next month i.e. from April 1, so let's try to understand the whole news in detail. After earning money from the stock market, there is always a concern among people that how much tax they will have to deposit with the government after making a profit.

 

Many people are trying to save this tax, while many people keep searching for some other tricks so that they have to pay less tax and maximum profit remains in their pocket. But in this year's general budget 2023, this time a lot of changes have been made in the tax rules. The tax exemption limit has been increased in the new tax regime.

 

At the same time, some important changes have also been made in the standard deduction, but investors investing in the stock market keep a close eye on the changes in the tax rules because as soon as the rules change, the whole math turns upside down. 

If the calculation is not done correctly, then a fine may also have to be paid, so don't worry, we will try to solve this problem of yours. First of all, let us know what has changed in the tax rules of equity, and F&O trading. No such new tax has been announced in this year's general budget 2023 which will affect your equity investment F&O trading and profits from stocks. 

However, capital gains tax has been linked to real estate, gold, and market-linked debentures. Now know what is capital gains tax. When you earn a profit by selling your property, then the tax on those profits is called capital gains tax, such as profit on selling land, house, gold, shares, bonds, etc., i.e. profit capital gain. 

And then the tax on the same capital gain is called capital gain tax. Now know how much will be the long-term capital gain tax in the current financial year. Currently, a long-term capital gain exceeding ₹1 lakh is taxed at 10%. On the other hand, if investors have a short-term capital gain, then that investor will have to pay a 15% tax. 

Understand in simple language, short-term capital gain tax is applicable when you have booked your profits in one year or less. In that condition, you will have to pay a 15% tax. On the other hand, long-term capital gains tax is applicable if you have booked your profits after one year or more. In this condition, you will have to pay a 10% tax. 

Let us tell you, no relief has been given by the government on a long-term capital gain tax of more than ₹ 1 lakh. Know this also, what changes have happened in the income tax rules in this year's budget? In the budget of 2023, the income tax slab has been changed under the new regime by the government. 

Under this, no tax will be levied on income up to ₹ 3 lakhs. On the other hand, income tax will be 5% on 3 to 9 lakhs, 10% on 6 to 9 lakhs, 15% on 9 to 12 lakhs and 20% on 12 to 15 lakhs, and 30% on income above 15 lakhs. Under the new tax system, the tax exemption limit has also been increased to ₹7 lakh and the standard deduction of ₹50,000 has also been included in it. 

 
The government brought a new app for taxpayers: AIS for Taxpayer

 

If you are an income tax payer then this news is for you. The Income Tax Department has launched a special app to facilitate taxpayers. The name of this mobile is AIS for the taxpayer. By visiting this, taxpayers i.e. Annual Information Statement and TIS i.e. Taxpayer Information summary will be able to see. 

Let us know whether you can get some information through this app. Also how and from where you can download the App? AIS for Taxpayer App is a mobile application launched by the Income Tax Department. Through this, you can easily see the available information on your phone. 

You will be able to see the details of all your financial transactions done by the tax department from different sources during a financial year by visiting AIS i.e. Annual Information Statement and TIS i.e. Tax Information Summary. Let us know in detail which information you can avail of through the App. 

With the help of this mobile app, taxpayers can see all the details related to TDS i.e. Tax Deduction at Source, and TCS i.e. Tax Collection at Source. Also interest, dividend, share transaction, payment of tax, income tax refund, and other information including TDS data foreign remittance. All of them will be available in AIS or TIS. 

Taxpayers will also have the option to give feedback regarding the information being displayed in the app. You can think of TIS and AIS as such. The complete account of the means through which the taxpayer has earned during a financial year remains in AIS, which was introduced in 2022. 

In these, there are complete details of income earned from a salary savings account in the form of interest, income from fixed deposits and investment in the share market and mutual funds, and the amount received from selling. Details of money received from abroad will also have to be given in AIS. Apart from this, TIS was introduced to make ITR filing easier.

 

In this, taxpayers get complete information about their taxable income. Many tasks of taxpayers will become easier through this App. The special thing is that the APP of so much use is free. You can download it for free from Google Play and App Store and after downloading the application, you can register yourself by entering your PAN details in it. 

Let us know the whole process of how you can download and register it. First of all open Google Play Store on your mobile phone. Now search by typing AIS for Taxpayers in the search option. Now you will see it clearly on your mobile screen. Click on the Install option next to it and the App will be downloaded. Once the App is downloaded, open it and enter the PAN card details. 

After registering yourself through PAN card details, an OTP will come on your registered number. This OTP has to be opened in the registered on the E-filing portal. After this, you can start using it by setting a four-digit PIN on your mobile. Through you, taxpayers can get information about 46 types of transactions on their mobile. 

Apart from this, Income Tax Returns i.e. Filing of ITR will also become much easier. Through the information available on this, taxpayers can avoid mistakes while filing ITR. And now you also be aware of the new rules and keep earning profits from the stock market. If you like the given information then do share it, and also comment on our site www.tradeipohub.co.in.