Retirement planning: The Unified Pension Scheme (UPS) is a hybrid pension plan that combines elements of defined contribution and defined benefit to provide a reliable income stream for retirees. Initially introduced by the Government on January 24, 2025, as an alternative within the National Pension System (NPS), UPS is scheduled to go into effect on … Read more
To secure a bright future for your child, it is essential to make savvy investment decisions that not only enhance their savings but also mitigate tax obligations. Are you aware of any tax-efficient investment options falling under the EEE (Exempt-Exempt-Exempt) structure and equity-linked savings schemes that provide substantial tax advantages? Advice by Niyati Shah, Vertical … Read more
As the tax filing season approaches, it is essential for senior citizens and super senior citizens to select the correct Income Tax Return (ITR) form, ensuring compliance and maximising benefits. Senior citizens, defined as those over 60, can enjoy a basic exemption limit of Rs 3 lakh under the Income-Tax Act, 1961, while super senior … Read more
The SBI Long Term Equity Fund, formerly known as the SBI Magnum Taxgain Scheme, is an Equity Linked Savings Scheme (ELSS) offered by India’s largest fund house. With a history of 32 years, this tax-saving fund is one of the oldest of its kind in India, featuring a 3-year lock-in period and tax benefits for … Read more
The National Pension System (NPS), regulated by the Pension Fund Regulatory and Development Authority (PFRDA), stands out as an accessible retirement savings scheme for Indian citizens aged 18 to 70, including NRIs. This initiative, initially limited to Central Government employees, expanded post-May 2009 to embrace the private sector, offering diverse models such as NPS … Read more
Tax savings under Old Tax Regime: Taxpayers seeking to optimise their savings for the fiscal year 2024-25 still have opportunities available. One such option is utilising Section 80G of the Income Tax Act to claim deductions for donations made to government-approved trusts. It is important to note that not all charitable contributions automatically qualify for … Read more
In April 2025, investors holding select Sovereign Gold Bonds (SGBs) from the 2017-18 series will have the option for early redemption. The bonds eligible for redemption include SGB 2017-18 Series III, IV, and V, with redemption dates scheduled for April 16, April 23, and April 30. These bonds were originally issued at prices varying from … Read more
The upcoming financial year 2025-26, which commences on April 1, 2025, is poised to enhance the disposable income of numerous taxpayers nationwide, courtesy of recent policy changes. Finance Minister Nirmala Sitharaman introduced a Budget that is favourable to the middle class, introducing a range of tax benefits aimed at increasing the funds available to ordinary … Read more
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