Finance Minister Arun Jaitley on Monday did not change tax slabs but offered a relief of Rs 3,000 to the salaried with income below Rs 5 lakh per year.
'The stimulus message was tagged on to what was meant to be an exhortation to self-reliance, glossing over the near impossibility of merging the immediate requirement of relief for a huge population and a questionable strategy for the future trajectory of a large economy aspiring to superstardom,' points out Shreekant Sambrani.
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
The Committee, which has been set up in pursuance of the announcement made by the Minister in his Budget speech, will also suggest whether the unclaimed deposit should come to government or be kept in a separate account.
The rates of interest on various small savings schemes for the third quarter of financial year 2018-19, starting October 1 and ending on December 31, 2018, has been revised, the finance ministry said while notifying the rates.
Days ahead of the Budget, Reserve Bank Governor Raghuram Rajan on Wednesday pitched for increasing the tax exemption limit on financial investments by individuals from Rs 1.5 lakh a year.
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.
Reserve Bank of India Governor Raghuram Rajan, who will present his maiden policy on September 20, held discussions on Tuesday with Prime Minister Manmohan Singh and Finance Minister P Chidambaram on the macro-economic situation.
With EPFO capping the contributions to your pension scheme, you could look at other pension plans.
'Providing funds and autonomy to a few institutions that may not have the intent to excel must not become a case of trying to feed those who are not hungry and starving those who are famished,' says Jitendra Kumar Das, Director, FORE School of Management, New Delhi.
Besides managing retirement funds, EPFO may come out with a scheme to provide housing to its over 5 crore (50 million) subscribers on additional contribution of 10 per cent by them from their basic wages every month.
Tax deductions and prioritising their sequence will help you streamline your investments for efficient tax saving.
Business Processing Outsourcing (BPO) and Knowledge processing Outsourcing (KPO) firms are covered by the retirement fund body EPFO, Parliament was informed.
He said unwarranted rumour-mongering, speculation, and bear hammering of all Reliance Group companies shares over the last few weeks had caused grave damage to all our stakeholders.
Investors must explore alternate avenues like mutual funds and pension plans for building a retirement corpus.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
Experts say it's better to transfer the amount to one's current EPFO account than opting for a withdrawal.
Some cases are pending for two years.
The grouping, which is called Co-Impact, has been set up with an initial corpus of $500 million and will focus providing healthcare, education, and economic opportunity to the underserved populus in developing countries.
'The workers's dance of wilful destruction has the potential to kill all investments planned in India by any foreign entity,' argues Dr Sudhir Bisht.
The the scheme has a subscriber base of 35 million.
The Employees Provident Fund Organisation's apex decision making body, the Central Board of Trustee on February 25 had decided to pay 8.5 per cent rate of interest to subscribers for 2012-13.
An FIR has been filed against Trinamool Congress Rajya Sabha Member of Parliament Kunal Ghosh, Saradha Group chairman Sudipta Sen and six others for non-payment of salaries to employees of a television channel run by the chit fund company.
Now, the commission will be between zero per cent to 0.5 per cent.
Prime Minister Manmohan Singh says a higher interest rate on Employees Provident Fund would depend on whether the Employees Provident Fund Organisation could afford a higher payout.
Retirement fund body EPFO's trustees on February 5 will decide on amending its scheme to provide a minimum monthly pension of Rs 1,000, which will immediately benefit its 27 lakh pensioners.
After complaints that the new law may impact employment of women, the government has framed a scheme to provide monetary incentive to companies, reports Somesh Jha.
The argument put forth is that withdrawals from a long-term investment avenue leave investors with a lower corpus on retirement.
'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.'
The organisation can invest in bonds of private companies with dual 'AAA' rating, say new norms.
Assume the worst regarding how long your unemployment could last and make conserving cash your topmost priority, suggests Sanjay Kumar Singh.
It has initiated efforts to get full details only now.
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.
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