Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
If someone does reduce his contribution, he should scale it back to the 12% level as soon as he can, suggests Sanjay Kumar Singh.
Your financial goals are of utmost importance and the tax saving is an added incentive, advises Dwaipayan Bose.
There are over 1.36 lakh employees, including employees and pensioners under the new pension scheme.
The 'restore old pension' campaign is being spearheaded by the National Movement for Old Pension Scheme (NMOPS), a federation with over 13 lakh government employees as its members.
Will the EPFO be required to deduct tax at source or will the employee have to calculate the tax and pay it separately?
Net job creation in the economy fell by 16.9 lakh in FY21 over the previous fiscal, shows an SBI Research analysis of EPFO payroll data. However, the FY21 numbers are better than the FY20 net job creation, which had declined by 28.9 lakh, further cementing the view that the economy is not creating new employment opportunities. The latest EPFO data shows that net new EPF subscribers stood at 94.5 lakh in FY21, and NPS added 5.82 lakh, taking the cumulative net addition to 100.4 lakh, which is marginally down from 102.3 lakh in FY20.
Twenty years after the burning of a train in Godhra killed 59 'karsevaks' and triggered one of India's worst post-Partition riots, the poll-scape reflects the yawning gulf between the two communities.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The Pension Fund and Regulatory Development Authority has unveiled a savings account scheme under the New Pension Scheme which would allow investors to enter and exit at will. The account, called Tier-II, will be available only to those who have subscribed to Tier-I, which an investor cannot exit till the age of 60. Tier-I, a pension account, was launched in May but has not found too many subscribers in the absence of tax benefits at the time of withdrawal.
The software is being developed in association with the Central Record-keeping Agency. It is expected to debut by the end of this year. PFRDA is also looking to have an ombudsman for redressal of investor grievances. To increase liquidity of the scheme, there could also be Tier-II accounts by the end of this year, which would allow investors to withdraw money at any given point of time.
It is proposed to provide a combined upper limit of Rs 7.5 lakh in respect of employer's contribution in a year to NPS, superannuation fund and recognised provident fund and any excess contribution is proposed to be taxable.
In India, younger workers willing to work at lower salaries are easily available, so you could find yourself out of a job before 60. Therefore, save for retirement with urgency, advises Sanjay Kumar Singh.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Plan these investments well rather than just doing random investments at the beginning of the year or rushing in at the end, advises Harshad Chetanwala, co-founder, MyWealthGrowth.
Having a single point KYC that is automatically used across all financial and non-financial entities is a single piece of reform that should be an easy win to achieve, points out Harsh Roongta.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Now govt employees to enjoy greater say in how their NPS corpus is invested. Younger employees should raise their allocation to equities in this very long-term investment instrument
It is a trend that economists and researchers say might continue. The data shows the share of this age group in the net EPF accounts created - a proxy for net new formal jobs created - fell from 37.9 per cent in 2018-19 to 24.1 per cent in 2021-22.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'When we say we want to increase pension participation, do we want to increase participation through the savings route?' 'Or do we want people to save in specific pension products?' asks Renuka Sane.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Nikunj Saraf, Vice President Choice Wealth, answers your mutual fund queries.
On maturity, 40 per cent of the accumulated corpus can be withdrawn tax-free.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Withdrawals from EPF and NPS to have same tax rates.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
NPS still has critics despite being in business for a decade and mopping Rs 24,000 crore as of 2013-14.
Those who have crossed 50 must show the greatest urgency. They need to achieve a corpus that can sustain them and their spouses for at least 25-30 years after retirement.
Most insurers aren't comfortable with subscribing to the National Pension System as they see it as competition.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your mutual fund queries.
'If I close my housing loan, are there any investment avenues (the investment should provide liquidity) to save tax?'
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
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