India

5 Key financial changes starting from April 1st

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Deposit limit increased for senior citizens

Senior Citizens Savings Scheme limit has been increased to Rs. 30 lakh. Monthly Income Scheme raised to Rs. 9 lakh for singles and Rs. 15 lakh for joint accounts. 

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Physical gold conversion

Now, you won’t have to pay tax for converting physical gold into Electronic Gold Receipt (EGR) or vice versa. 

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No Long-Term Capital Gains (LTCG) tax benefits

If you sell your mutual funds for profit, you only have to pay tax for the profit as a short-term gain, instead of a long-term profit. 

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New Tax Regime

A new tax regime has been introduced to simplify the tax-paying process for new taxpayers. Individuals can opt between the new and the old one according to their preference 

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The National Pension System made more secure

All the users are required to perform a two-factor Aadhaar authentication to log into the CRA system.

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