Finance Minister Nirmala Sitharaman introduced the Income Tax Bill 2025 in the Lok Sabha on February 13, 2025. This new bill will replace the Income Tax Act of 1961 and is set to come into effect on April 1, 2026. Restructuring of Tax Deductions One of the major changes in the new bill is the …
Retirement planning is crucial, and investing early can significantly impact the final corpus. A single investment of ₹10 lakh may seem modest, but with the power of compounding and long-term market growth, it can potentially grow into a substantial ₹3 crore corpus. But how does this happen? The key lies in investment returns and time …
Indian Overseas Bank (IOB) has launched Aadhaar OTP-based online account opening, allowing customers to open a savings account with minimal paperwork. Additionally, API banking is introduced for businesses to process transactions smoothly. Simplified Account Opening The bank has rolled out Aadhaar OTP-based account opening and API banking, aimed at enhancing user experience and simplifying banking procedures. …
Angel One Asset Management Company has launched its maiden new fund offer (NFO) with the Angel One Nifty Total Market Index Fund, which is currently open for subscription and will close on February 21, 2025. This open-ended scheme replicates and tracks the Nifty Total Market Index, providing investors an opportunity to participate in India’s growth …
Senior citizens investing in fixed deposits for 5 years can earn up to 9.1% interest. Various banks like Suryoday and Unity Small Finance Bank are offering competitive rates. Learn more about FD tax benefits and available options. Best FD Interest Rates for Senior Citizens Senior citizens can earn up to 9.1% interest on fixed deposits …
When your bank offers you a choice between reducing your Equated Monthly Instalment (EMI) or shortening your home loan tenure, it is essential to evaluate both options before making a decision. And, the same can be done using the Home Loan EMI Calculator. Reducing EMI: This decreases your monthly repayment, freeing up cash for other …
The Odisha government has asked all Subhadra Yojana beneficiaries who have not received their payments to complete their Direct Benefit Transfer (DBT) process and eKYC verification. Those who fulfill these requirements will receive their first or second installment by March 8, as per the reports. Over 2.5 Lakh Beneficiaries Yet to Complete Verification According to …
The Employees’ Provident Fund Organisation (EPFO) has extended the deadline for Universal Account Number (UAN) activation and linking bank accounts with Aadhaar to February 15. This step is crucial for employees to avail of benefits under the EPFO’s Employment Linked Incentive (ELI) Scheme. What is the ELI Scheme? Introduced in the Union Budget for 2023-24, …
Buying a home is a major financial decision, and choosing the right loan tenure can significantly impact your long-term finances. Should you opt for a 20-year home loan with higher EMIs but lower overall interest, or a 30-year tenure with smaller EMIs but nearly double the interest cost? Let’s break it down with a real-world …
The Reserve Bank of India’s 25 basis points repo rate cut to 6.25% has prompted banks like Canara Bank, PNB, and Union Bank to lower their repo-linked lending rates. This offers home loan borrowers the option to reduce their EMIs or shorten loan tenure, benefiting both new and existing borrowers. Banking Giants Revise Repo Linked …
