'If you consider only demonetisation and GST as my government's work, it will be a big injustice to me.'
Pawan Kumar, organising secretary of the Bharatiya Mazdoor Sangh (BMS) affiliated to the Rashtriya Swayamsevak Sangh (RSS), tells Aditi Phadnis it will join forces with other trade unions if necessary to oppose the Employees' Provident Fund Organisation (EPFO) provisions in the Union Budget.
EPFO may start investing up to five per cent of its incremental corpus in the equity market.
17 scorers have appealed in unison to BCCI president Sourav Ganguly, seeking some sort of 'retirement benefits'
Action, animation, drama, documentary, there's plenty to watch on OTT this week. Sukanya Verma makes it easy for you.
In an indication of easing financial stress among borrowers, the number of unsuccessful auto-debit requests through the National Automated Clearing House (NACH) platform declined in July, reversing a three-month trend that started with the second wave of the Covid-19 pandemic. According to the NACH data, of the 86.4-million transactions initiated in July, 33.23 per cent, or 28.7 million transactions, failed, while 57.7 million were successful. Compared to June, this is a significant improvement in bounce rates.
'There are no new benefits for senior citizens, but on the other hand senior citizens having sizeable dividend income may have to suffer tax at applicable slab rates,' says Mahesh Padmanabhan.
The Prime Minister's Office has decided to set up a panel, led by former chief statistician T C A Anant, to deliberate on whether the enterprise-level quarterly data, which is released by the labour bureau, should be discontinued.
'We get an overzealous army of tax inspectors pushing the economy too hard,' says Ajay Shah.
The curious thing is that savings instruments have not really kept pace with changing needs, although people have access to a wider variety than before.
When the state is unable to provide adequately for the bottom half of the population, should it be giving tax benefits to the well-off?
Even as Chinese troops continue squatting on territory that we claim as our own -- this was the lowest allocation for defence in percentage terms since the 1950s, reveals Ajai Shukla.
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
'MFs have a combined exposure of Rs 3.2 lakh crore to NBFCs, out of which Rs 1.1 lakh crore matures by September 2019.'
Finance Minister P Chidambaram, while addressing the Carnegie Endowment for International Peace on "Recapturing India's Growth Momentum" in Washington on Thursday, said that the leading think tank need not launch an initiative to explore how India will vote in 2014, declaring that the Indian polity will vote the Congress back into power.
Dynamic change is needed to transform the system, he said.
The election campaign finally ended on Friday, May 17. Arindam Majumder reveals what he discovered on the election front on a long rail journey.
'Where in the world you get 12.5 per cent return of interest?'
Finance Minister Nirmala Sitharaman on Monday conveyed to Infosys CEO Salil Parekh in no uncertain terms the government's "deep disappointment and concern" over the continuing glitches in the new income tax filing portal and set September 15 as the deadline for the software major to resolve all snags. As glitches continued to mar the functioning of the portal even after over two months of its launch, Sitharaman summoned Infosys MD & CEO Parekh at her office here to know the reasons for not resolving the snags in the portal. A statement issued by the Income Tax Department said that during the meeting the finance minister emphasised that there is a need for putting in more resources and efforts on the part of Infosys so that the much delayed delivery of agreed services is ensured.
BJP-ruled states push through amendments to laws, aim to get larger share of FDI pie
Ranjana Avasthi, a PhD holder, poured her heart out about the plight of part-time lecturers, prompting the Congress vice president to make the unexpected move.
Banking system liquidity will experience transient frictional tightness ahead of the payment of arrears
Noting the actions and capabilities of the Chinese side, the IAF chief said, "They had brought their J-20 fighter aircraft (to areas close to Eastern Ladakh) and they go off from there but that is the flexibility of airpower. The moment Indian Rafales were brought in, their J-20 was there. We know their actions and capabilities and we are taking the required steps."
MFs continue to find it difficult to attract and retain long-term money from investors
Sports Minister Kiren Rijiju said all pending complaints of sexual harassment at SAI institutes will be disposed off
Tokyo residents are deeply divided on whether they should go ahead with the Olympics mid-pandemic
Auto-debit payment bounces have gone up for the second consecutive month in May, emphasising the stress building up due to a halt in economic activities as authorities lock down various parts of the country to stop the spread of the virus in the second wave. According to the National Automated Clearing House (NACH) data, in May, of the 85.7 million transactions initiated, 35.91 per cent, or 30.8 million transactions, failed.
According to the report, financial assets of the Indian households are predominantly in the form of bank deposits, followed by life insurance - a pattern that got disrupted after note ban
'The government must provide more funds to enable the armed forces to fight and win tomorrow's wars,' states Brigadier Gurmeet Kanwal (retd).
Bank shares were the top losers after sharp gains last week.
In a move to cut down wastage, duplication and leakages and enhance efficiency, the Prime Minister has given a major push to transfer individual benefits from the government directly into the bank accounts of beneficiaries.
'We are probably working with flawed data on household finance.'
The tax rate rises to 10 per cent, 15, per cent, 20 per cent and 25 per cent for every Rs 2.5 lakh addition. A 30 per cent tax is charged for income over Rs 15 lakh.
Aadhaar now has legal backing but it still faces challenges of privacy and data sharing
The meeting will review the current global and domestic economic situation and financial stability issues, including those concerning banking and NBFCs.
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Taxpayer will also have to forego deduction under 80CCC (contribution towards certain pension fund), Section 80D (health insurance), 80E (interest on loan for higher education), 80EE (interest on loan taken for residential property), 80EEB (purchase of electric vehicle), 80G (donation to charitable institutions), and 80G (rent paid).
To snatch a state government out of Congress hands is therefore a high-stakes game with national political implications, for it denies the party the essential fuel to run effective election campaigns, notes T N Ninan.
'... the government provides adequate cash and kind support for the poorest of the poor for survival... ...conditional cash and skilling support for the economically poor to raise their incomes to adequate levels... ...and make functional arrangements for providing unemployment allowance to the vulnerable poor during disasters like the present one.'
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.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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