Launched in August this year, the Jharkhand Mukhyamantri Maiya Samman Yojana or Maiya Samman Yojana is a cash benefit scheme, much similar to Maharashtra’s Ladki Bahin Yojana, Madhya Pradesh’s Ladli Behna Yojana, was designed to improve the financial security and well-being of women throughout the state. Numerous female recipients are eagerly anticipating the upcoming disbursement … Read more
DA hike: The Dearness Allowance (DA) for central government employees currently stands at 53% of the basic salary following the July 2024 revision. According to the rule, when the DA exceeds the 50% mark of the basic pay, specific allowances are automatically adjusted. This regulation ensures that employees’ additional expenses are taken into account amidst … Read more
PAN 2.0: The Income Tax Department has launched PAN 2.0 to improve the efficiency of assigning and maintaining Permanent Account Numbers (PAN). This initiative is designed to enhance convenience and security by providing e-PAN cards with a QR code to applicants’ registered email IDs at no charge. A nominal fee is required for a physical … Read more
Mutual fund investment: Since the introduction of NPS Vatsalya, many have been speaking about long-term investment plans, which extends for decades and can offer a multicrore asset on maturity. NPS Vatsalya, which is similar to the National Pension System, and equity MFs, or children mutual funds, are important tools for long-term wealth creation. Choosing the most … Read more
TMC leader Derek O’Brien has urged Finance Minister Nirmala Sitharaman to “urgently review” and withdraw the 18 percent GST on health and life insurance premiums during the upcoming GST Council meeting. “The 18 per cent Goods and Services Tax (GST) on health and life insurance premiums is a burden on 45 crore Indians comprising … Read more
In the current rapid-paced society, marked by an emphasis on financial stability, individuals belonging to Gen Z and the millennial demographic need to initiate their venture into investments at an early stage. Raksha Bandhan festival is a perfect occasion to help your brother or sister start their financial journey with a wide array of investments … Read more
Raksha Bandhan is the most auspicious and most celebrated brother-sister festival in India. This year, Rakhi will be celebrated on August 19, 2024. Though traditional gifts like cash, clothes and jewellery are the favourite gift choices for sisters, many financial experts feel that gifting investment tools, such as fixed deposits, mutual funds, and others, can … Read more
Capital Gains Tax: After Finance Minister Nirmala Sitharaman made an announcement in the Union Budget regarding the reduction of tax on long-term capital gains from 20% with indexation benefits to 12.5% without indexation benefits, an amendment was introduced to The Finance Bill, 2024. This amendment allows taxpayers to select the tax rate that is more advantageous … Read more
Public Provident Fund account: Introduced in 1968 under the National Savings Institute of the Finance Ministry, the Public Provident Fund (PPF) scheme was brought in to promote long-term savings and investments for retirement planning. Considered as a prudent financial instrument for individuals averse to high-risk investments, the PPF scheme offers a blend of security, reasonable … Read more
The Moneyview Savings Index 2024, which was conducted during the financial year ended March 2024, showed that 72% of the respondents earning over Rs 50,000 monthly salary have higher savings compared to just 51% of those earning less than that. It stated lower-income groups often opt for safer options like savings accounts even though interest … Read more