If you’re paying rent of over ₹50,000 per month, you’re not just a tenant anymore. Under Indian tax law, you also become a tax deductor. This rule applies whether you’re a salaried individual, a freelancer, or self-employed individual. This rule is appliable irrespective of whether you follow the old or new income tax regime. TDS on …
For most salaried individuals, the Employees’ Provident Fund (EPF) is a reliable and disciplined way to build retirement savings. With an interest rate of 8.25%, it remains one of the best debt-oriented investment tools. But with the introduction of the new income tax regime, many are unsure about the tax implications on PF contributions and returns. In this article, …
As discussions around the 8th Pay Commission gather pace, the staff side of the National Council of Joint Consultative Machinery (NC-JCM) has revived a long-standing demand: the inclusion of a clause in the Terms of Reference (ToR) for merging Dearness Allowance (DA) with basic pay. Why Merge DA in the 8th Pay Commission? The staff side …
Several important changes to Social Security will begin on April 14, 2025. This will impact millions of beneficiaries and new applicants. The updates are designed to enhance security and ensure fair distribution of benefits. These changes affect identity verification processes, payments for certain retirees, and more. What Is SSA Changing In April 2025? Starting April …
A new financial year has begun, and companies across various sectors will be implementing salary hikes to recognise employee contributions. While you celebrate this personal financial boost, you must also plan your finances strategically. In this article, we highlight how you can manage your salary hike effectively for a secure financial future Utilising Your Salary …
The ‘e-pay tax’ feature is designed to simplify your ITR filing process. It has been introduced by the Income Tax Department of India on its official e-filing portal. This will allow tax payers to clear their dues using multiple digital payment options. This includes NEFT/RTGS, net banking, and debit cards, among others. How to Use the e-Pay Tax Feature? …
Curious about the changes in India’s new tax regime in India? It shows how much tax you will save monthly based on different annual incomes. The incomes considered are ₹15 lakh, ₹25 lakh, ₹35 lakh, and ₹45 lakh. Previous New Tax Slab Rates In the old new tax regime, income up to ₹3 lakh had no …
The Income Tax Department is investigating individuals who have made political donations of ₹5 lakh or more to lesser-known political parties in FY 2020-21. Tax officials have sent a list of questions to these donors to scrutinise their donations and ensure they are legitimate. Money Laundering Concerns in Political Donations In some cases, donors gave …
Investment scams are becoming increasingly common. In February 2025, Rajasthan police arrested 7 accused people for an ₹85 lakh fraud. The accused lured a woman with high stock market returns. The Hyderabad cybercrime police arrested a man for similar scams. Gurgaon Case: ₹85 Lakh Fraud A Gurgaon resident reported an ₹85 lakh loss on February …
As per news reports, the EPFO will introduce a new system for PF withdrawals via the Unified Payments Interface (UPI). Labour and Employment Secretary Sumita Dawra approved NPCI’s recommendation. Members may withdraw PF through UPI and ATM by May or June. This initiative by EPFO aims to simplify and expedite PF withdrawals, enhancing convenience for …
