The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
Use deductions introduced in the Budget to save additional Rs 24,000 in tax
Families with tax-paying members, government employees, professionals, among those who have been exempted from the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme.
RBI wants periodic revision of the pensions for its retired employees.
'Welfare schemes are not a necessary evil, they are a necessary good.'
There will be tripartite pact with member, bank/housing agency and EPFO.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
If your account is idle for over five years, there could be issues with acquiring EPF details.
MFs continue to find it difficult to attract and retain long-term money from investors
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
While no specific state-oriented sops were rolled out, a strong thread of political wellness ran through the Budget.
It's better to inform your new employer about income earned and deduction availed with the previous one.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
September 15 is the deadline for paying the second instalment of advance tax. This is income-tax (I-T) taxpayers need to pay every quarter, instead of a lump sum at the end of the year. Ashutosh K Srivastava, senior associate, SKV Law Offices, says, "The tax has to be usually paid when income is earned. "Nonetheless, according to the I-T Act, the taxpayer has to estimate his income for the entire financial year. Based on that, he/she pays tax at specific intervals."
Interim pension regulator PFRDA has asked the government to bear the cost of maintaining accounts of policy holders under the New Pension System, a move that will encourage people to opt for the scheme.
The idea of three capitals has not been abandoned, even as the state lurches from financial crisis to crisis.
The government should now focus on governance and monitoring the supply side to manage inflation, says M V Subramanian.
After many cases of irregularities in old-age pension disbursement surfaced in Uttar Pradesh, Chief Minister Mayawati has directed authorities to lodge FIR against officials indulging in corrupt practices.
The main purpose of the meeting is to assess their views on reforms that are required to attract long-term capital into the country.
There appears to be a growing perception among the political class that faster growth will not create jobs fast enough and, therefore, welfare spending needs to be drastically increased, says T T Ram Mohan.
Damage from new shenanigans can be contained if regulators move quickly when something does not smell right, counsels Debashis Basu.
Once the new rules kick in, you will have less cash-in-hand and may feel tempted to scale back on savings and investments.
You need not worry even if there is a mismatch between your income and deduction in Form 16/16A and Form 26AS, says Ashley Coutinho
'I have seen, even in my village, people hanging pictures of Communist leaders -- Jyoti Basu, Joseph Stalin, Mao Zedong -- in their drawing rooms. Could we not hang pictures of Swami Vivekananda? '
The manifesto, on the lines of the party's promise in Delhi in 2015, also says the AAP government will set up Aam Aadmi canteens at sub-division and district levels where one time meal will be available for Rs 5, and reduce the power tariff to half for usages up to 400 unit.
Evaluate recurring investment products and do the numbers before making any investments.
Officials cited the example of the Sixth Pay Commission.
Want your investments to make money as well as save tax for you? Anil Rego has some advice
Restrict investment to Rs 50,000 for tax benefits, experts tell Sanjay Kumar Singh, but caution that taxation at maturity and compulsory annuities are dampers.
It is best to invest long-term surplus in stocks or equity mutual funds.
The 'partial withdrawal' is however allowed only after 10 years of contribution by the subscriber, said the draft guidelines by the Pension Fund Regulatory and Development Authority.
The independent institute advising the PM on jobs seems to have missed the point that the challenge is to create net additional jobs, says Mahesh Vyas.
Railway hospitals will offer postgraduate courses for medical students.
FM proposed rationalisation of various tax exemptions.
More incentives will be given to agriculture sector for increasing agriculture production.
The Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund was established in March last year with the primary objective to deal with any kind of emergency situation like the one currently posed by the COVID-19 outbreak and provide relief to those affected.
The 40 per cent exemption benefit is applicable only for employees.
The 600-million (approximately Rs 4,100 crore) UK Personal Accounts Delivery Authority (PADA) deal, which was recently awarded to Tata Consultancy Services (TCS) to administer the National Employee Savings Trust (NEST) scheme for 10 years, has come under the scanner of the Conservative Party.
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.
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