The Mahila Samman Savings Certificate (MSSC) and the Sukanya Samriddhi Yojana (SSY) are two financial schemes designed to cater primarily to the savings needs of women and girls. The MSSC is a short-term savings option aimed at providing a risk-free investment avenue with stable returns. On the other hand, the SSY, launched in 2015 under … Read more
Standard Chartered has unveiled its inaugural social bond valued at €1 billion (US$1.086 billion), marking a strategic initiative to promote sustainable development in low-income countries within its emerging markets footprint. This bond issuance is primarily targeted at fostering growth in small and medium-sized enterprises (SMEs), while also enhancing access to essential services such as healthcare … Read more
As the financial year draws to a close on March 31, taxpayers are focusing on maximising their savings through investments under Section 80C of the Income Tax Act. Among the various options available, Equity Linked Savings Schemes (ELSS) stand out as a favourable choice for both tax savings and potential long-term wealth creation. Under Section … Read more
The Senior Citizens Savings Scheme (SCSS) is designed specifically for elderly individuals residing in India. This scheme provides a reliable source of income along with top-notch security and tax advantages. Eligible senior citizens residing in India have the option to invest a lump sum amount in the scheme either individually or jointly, in order to … Read more
Tax calculator 2025: The Income Tax Department has introduced a user-friendly tool for taxpayers to compare taxes under the New Tax Regime for the financial years 2024-25 and 2025-26 (post budget proposal). This tool allows individuals to determine which tax regime is more advantageous based on their income and deductions. Access the official Income Tax … Read more
Tax calculations: The Centre has once again aimed to enhance the appeal of the New Tax Regime by introducing lower tax rates and reducing deductions. This restructuring aims to simplify taxation, while the Old Regime continues to provide tax benefits through various exemptions and deductions. The proposed income tax slabs in the Union Budget 2025 … Read more
Budget expectations: On February 1, 2025, Union Budget will be presented by Finance Minister Nirmala Sitharaman at the Lok Sabha. Income taxpayers are expecting significant tax breaks. The taxpayers may expect some big changes as PM Narendra Modi and President Draupadi Murmu hinted at some major shakeup. Ahead of the Budget 2025, President Draupadi Murmu suggested … Read more
Budget expectations: Finance Minister Nirmala Sitharaman is set to unveil the Union Budget on February 1, 2025, a highly anticipated event for taxpayers nationwide. The segment on income tax is of particular interest, as individuals eagerly await any potential changes that could offer relief. Speculation for this year’s budget centers around possible modifications to tax … Read more
Tax calculations: The Union Budget 2024 has introduced a new set of tax slabs for the new tax regime to provide more tax relief compared to the previous tax system. Individuals may wonder how to determine which tax regime is more advantageous for them. The decision will depend on the specific deductions that each taxpayer can … Read more
Tax planning is a crucial component of personal finance, enabling taxpayers to minimize liabilities while complying with legal obligations. With significant changes introduced by the recent Finance (No. 2) Act 2024, understanding how to optimize tax planning for the Financial Year (FY) 2024-25 (Assessment Year 2025-26) is essential. In this article, we will discuss effective … Read more