The Employee Provident Fund Organisation (EPFO) emphasizes the importance of linking your bank account to your Universal Account Number (UAN) for quick access to your EPF balance, seamless transfers, and easy withdrawals. Ensuring that your UAN is seeded with your bank account is vital for the effective management of Employees’ Provident Fund (EPF) contributions and … Read more
In the Union Budget 2024, the capital gains tax regime for short-term capital gains (STCG) and long-term capital gains (LTCG) on different capital assets was changed. Additionally, the Budget adjusted the holding periods for these gains. These changes were implemented to streamline the tax system and promote better adherence to tax regulations. Changes were made … 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
Union Budget: The full Budget 2024, which was presented in July, brought about significant alterations to the taxation regulations governing mutual fund investments. Mutual funds are a popular choice of investment. During 2024, the cash reserves of mutual funds rose by Rs 70,081 crore, reaching Rs 1.80 lakh from Rs 1.10 lakh at the beginning … Read more
India’s fisheries sector is undergoing rapid transformation, with a focus on advancing fish farming practices and promoting sustainability. This sector plays a crucial role on the global stage, as evidenced by the Blue Revolution which underscores the critical importance of fisheries and aquaculture in the country. Termed as “sunrise sector”, India’s fisheries industry is poised to … Read more
Tax changes from October 1: In her first Budget presentation under the Modi 3.0 government, Finance Minister Nirmala Sitharaman introduced significant alterations to the taxation system, particularly affecting investors and shareholders. Among the key changes announced was the hike of the securities transaction tax (STT) on Futures & Options (F&O) of securities to 0.02% and … Read more
NPS Vatsalya vs mutual funds: The NPS Vatsalya scheme was floated earlier this week, which is one-of-a-kind scheme where parents can start saving for their minor children much before they enter into their adult life. The NPS Vatsalya is a long-term pension scheme proposed during the full Union Budget 2024, following the third-term victory of the … Read more
Finance Minister Nirmala Sitharaman will formerly float the NPS Vatsalya scheme on September 18, 2024, almost two months after announcing it in the Union Budget 2024. The scheme, which is an extension of the existing National Pension Scheme, is focused on children and the investment made in this account will be to ensure long-term wealth. … Read more
Union Budget taxation: Specified Mutual Fund refers to a type of mutual fund, regardless of its designation, that has a predetermined maturity date. In this fund, a maximum of 35% of the total capital is invested either directly or indirectly in the equity shares of companies within the domestic market. For the Specified mutual fund … Read more
The NPS Vatsalya scheme, announced in the Union Budget 2024, is expected to be officially unveiled by the latter part of September. Positioned as a modified iteration of the National Pension System (NPS) for government and private emplpoees, NPS Vatsalya is envisaged to serve as a pivotal financial instrument, providing parents with a reliable avenue … Read more