'Every Indian citizen is already exposed to massive digital surveillance and most are already vulnerable to data theft and cyber-impersonation as well,' points out Devangshu Datta.
The Finance Ministry has given its consent to the EPFO to invest from 5 per cent to 15 per cent of the investable income of the organisation every year.
In an online chat with Rediff.com readers, personal finance expert Anil Rego answered queries about the new tax regime announced in the Union Budget.
In an online chat with Rediff.com readers, G Srikanth, partner, GSV Associates, chartered accountants, Chennai and member of the Institute of Cost and Management Accountants, answered queries about the new income tax proposals mooted in the Union Budget 2020-2021.
Investors must remember that only resident Indians can open a PPF account and a person can have only one PPF account.
'It is common knowledge that cash is anonymous.' 'When demonetisation was implemented, one of the intended objectives was to put identity on the cash holdings in the economy.' 'With the return of Rs 15.28 lakh crore in the formal banking system, the almost entire cash holding of the economy now has an address.' 'It is no more anonymous,' says Arun Jaitley.
'A subscriber will know exactly how much of his money is in debt and how much in equity.'
Go for high quality and low-to-medium-duration funds in your debt portfolio
The objective behind the move is to "retain the membership of PF subscribers and to address the social security needs at the time of unemployment."
Debt fund managers think the Reserve Bank governor might at best go for one rate cut in April.
Tax-saving investments should not be made with the sole purpose of saving tax, but should also help an individual grow his wealth, suggests Archit Gupta, founder and CEO, ClearTax.
Overall, the populist/ electoral elements in the budget have remained measured with the finance minister being clearly aware of a higher-than-expected rise in oil prices, less-than-planned tax revenues and the wider deficit for FY 17/18, constraining his margin of maneuver, says Claude Claude Smadja.
Meet a Mumbai couple whose hearts are so big that they emptied out their entire savings to help feed the poor and needy during the COVID-19 pandemic.
The much-awaited minimum monthly pension of Rs 1,000 and a higher wage ceiling of Rs 15,000 for social security schemes run by retirement fund manager EPFO will be implemented from September 1.
EPFO fund body EPFO is likely to increase the maximum amount assured under its Employees' Deposit Linked Insurance Scheme (EDLI) to Rs 550,000 from the existing Rs 360,000.
The city police commissioner has promulgated prohibitory orders under Section 144 of Code of Criminal Procedure in the limits of Bengaluru city till the midnight of April 22.
EPFO manages a huge corpus of over Rs 6 lakh crore (Rs 6 trillion).
In January, the Employees' Provident Fund Organisation had asked the field staff to ensure the collection of data in respect of member joining on or after March 1, on a monthly basis and in respect of existing members by June 30, 2013.
The larger virtue of maintaining fiscal credibility should not be unduly diluted by quibbles on the fiscal math, says Sajjid Chinoy.
The Vasundhara Raje government's initiatives mark a critical step forward in labour law reforms.
Employees Provident Fund Organisation is likely to issue permanent account numbers to employees.
Finance Minister Arun Jaitley announced several reforms.
But increase in the statutory contribution will boost retirement corpus
When looking at fund returns, avoid looking at just the past 12 months' performance, says Sanjay Kumar Singh
After assuming power in 2014 with a full majority of its own, the BJP-led NDA government started an ambitious process of reforming labour laws in the form of codes aimed at making the framework less cumbersome with a variety of alterations. It had planned four codes each for industrial relations, wages, social security and welfare, and occupational safety, health and working conditions. To this end, 35 central labour laws were to be converted into four codes that would have had the virtue of streamlining labour relations. But none of the proposed code Bills could be converted into a law principally because neither trade unions nor industry representatives came on board. They hold the key to India's low-growth-high unemployment paradigm but the government may struggle to push them through this time as well. Somesh Jha explains why
It is not advisable to touch retirement corpus if property is being purchased for investment.
At present, the EPF subscribers are exempted from paying income tax on deposits.
EPFO's Central Provident Fund Commissioner K K Jalan has said that these directives shall help the body in getting the bank account details of all the members which are necessary for making UAN operational.
The employers often split wages into different allowances to reduce their PF liability and also increase the take home pay of their workers.
The Budget touches a few highs and lows as far as personal finance is concerned, and one needs to be aware of them in order to optimise on one's investment plans.
The members of these trusts enjoy tax and other benefits at par with EPFO subscribers.
Tax planning will help you pay less income tax. Something everyone wants. But smart tax planning will help you boost your portfolio.
Unique Identification Authority of India said the alleged data breach took place on a website that does not belong to it.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
Individuals often postpone tax planning till the end of the financial year. As the deadline for showing proof of investments draws near, they invest randomly in any product that will help them save tax for that year. Later, they realise that it is not suited for them, so they abandon it. Tax planning should not be a standalone, one-off activity, but should be in sync with your overall financial plan, says Sanjay Kumar Singh.
Evaluate recurring investment products and do the numbers before making any investments.
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
Without Form 16, tax computation becomes cumbersome
By region, Thiruvananthapuram leads with 247 defaulters, followed by Kolkata with 173 and Bhubaneswar with 115
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