I’m working with the Indian Army. Until last year, we received Form 16 under the old tax regime, which included all allowances such as house rent allowance, travel, uniform, etc. However, from AY 2024-25, we are receiving Form 16 under the default new tax regime, which does not mention non-taxable allowances. My salary income exceeds…
The Income-Tax (I-T) department has today (November 17) launched a new campaign warning taxpayers of ₹10 lakh penalty if they fail to disclose foreign held assets or income earned from abroad in their ITR, according to a PTI report. The “compliance-cum-awareness campaign” aims to ensure that taxpayers report all information in their Income Tax Return…
A recent Sebi report highlighted the significant losses individual traders incurred in the equity futures and options (F&O) segment between FY22 and FY24. A whopping 91.1% of these traders lost money in FY24, and the average loss per head was ₹1.20 lakh. During FY22-FY24, 11.3 million traders incurred a combined net loss of ₹1.81 trillion….
Congress leader Jairam Ramesh. File | Photo Credit: PTI Accusing the Narendra Modi Government of ignoring the fine print of the women’s Labour Force Participation Ratio (LFPR), which as per the government’s statement from last month, increased from 27% in 2017-18 to 41.7% in 2023-24, Congress general secretary (communications) Jairam Ramesh pointed out that 84%…
India FD interest rates comparison: Public and private banks in India offer a varied range of fixed deposit (FD) interest rates, and it is thus recommended that you compare most options available before making an investment. At present, most banks offer a higher interest rate for term deposits with longer tenures, compared to a relatively…
Assume Mr A is an NRI based in the US and his father wants to send him ₹10 lakh from India. A resident Indian can only send money to an NRI’s NRO account. It cannot go in the NRE account because even though NRE is a rupee-denominated account, funds deposited in it must originate from…
Over 10 lakh senior citizens aged 70 and above have enrolled for the newly launched Ayushman Vay Vandana Card, under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) health scheme, the Ministry of Health and Family welfare declared on Saturday. Of the 10 lakh people who have enrolled for the card, around 60…
The year 2024 is about to end in another six weeks. Investors are looking for different ways to maximise their gains in this Calendar year, while capping the losses to the bare minimum. With stock market indices in a free fall where Nifty has already declined 10 percent on FII sell-off, what should investors do…
Image used for representation | Photo Credit: Getty Images The Income-Tax Department on Sunday (November 17, 2024) cautioned taxpayers that failure to disclose assets held abroad or income earned in foreign shores in the ITR can attract a penalty of ₹10 lakh under the anti-black money law. Also Read: I-T Dept. has served notices in…
It is around 10 a.m. in the morning and Manoj Mandal, 38, and about 50 other people are still waiting for the day’s job at a labour chowk in Bhogal in central Delhi. “Kaam down chal raha he (There is less work). It’s already 10 and now chances are less that anyone will come here…
