The National Payments Corporation of India (NPCI) has instructed banks and payment service providers (PSPs) to update customer mobile number records before March 31, 2025. The move is aimed at addressing technical issues and growing fraud risks arising from recycled or surrendered mobile numbers. NPCI’s Directive to Banks and UPI Apps NPCI has made it …
As the financial year 2024-25 comes to a close, taxpayers in India must stay alert to a series of critical tax deadlines. Failing to act before March 31, 2025, could result in penalties, interest payments, or missed tax benefits. From updated returns to advance tax payments, here’s a quick guide to everything that must be …
In India, both salaried employment and consultancy offer distinct career paths, each with its own structure, benefits, and tax implications. While income tax slabs remain the same for both, the treatment of deductions, benefits, and compliance can vary significantly. Here’s a detailed comparison to help you understand how taxes work differently for salaried employees and …
Income Tax and Income Tax Return (ITR) are often used interchangeably in everyday conversations about personal finance. However, they serve two very different purposes in India’s taxation framework. Understanding the distinction is vital to avoid errors during tax filing and to ensure compliance with income tax laws. What is Income Tax? Income tax is a …
A recent survey conducted by Bajaj Allianz Life Insurance in collaboration with NielsenIQ has revealed a concerning trend—81% of Indians are underinsured. While financial experts recommend life cover of at least 10 times an individual’s annual income, the actual coverage among Indians is just 3.1 times their income. This significant gap in coverage leaves many …
Taxpayers need to be aware of important upcoming deadlines before March 31, 2025. These relate to income tax filings and investments. Missing these deadlines can have adverse financial implications. Tax Deadline 1: Filing Updated Income Tax Return (ITR-U) Taxpayers must file their updated ITR for FY 2022-23. The assessment year is 2023-24. The deadline is …
Systematic Investment Plans (SIPs) allow investors to start with small amounts, such as ₹100, ₹250, or ₹500, and gradually increase their contributions. Many mutual fund houses now offer low-value SIPs starting at just ₹100. However, the average SIP investment in India remains above ₹2,000 per month. Start Small and Increase Gradually Not everyone can invest …
The Bharat Interface for Money (BHIM) app has been a key player in India’s digital payment revolution since its launch in 2016. Now, NPCI BHIM Services (NBSL), a subsidiary of NPCI, has introduced BHIM-UPI 3.0, a major upgrade aimed at improving accessibility, financial management, and merchant transactions. With new user-friendly features and enhanced security, this …
As the financial year 2024-25 nears its end, taxpayers need to prepare to file their income tax returns (ITR) for the Assessment Year 2025-26. The process will begin on April 1, 2025, and can be done online or offline. The Income Tax Department updates forms and tools every year to make the process smooth and …
In India, turning 25 is more than just another birthday — it’s a turning point. While career progression and lifestyle goals take centre stage, there’s one critical aspect that often gets sidelined — building a strong financial foundation. At 25, you’re at a sweet spot: you’ve likely started earning, and time is still on your …
