The Pension Fund Regulatory and Development Authority (PFRDA) has made it mandatory for all National Pension System (NPS) subscribers to upload certain documents as of 1 April, 2023 to the Central Record-Keeping Agency (CRA) user interface before withdrawing the pension corpus. The new rules for withdrawal from the NPS will make annuity payments faster and …
PAN and Aadhaar number has become mandatory for making investments in small saving schemes like Public Provident Fund PPF), Sukanya Samriddhi Yojana (SSY), Post Office Saving Scheme, Senior Citizens Saving Scheme (SCSS), etc. The ministry of finance issued notification in this regard on 31st March 2023. These changes have been notified as part of KYC …
Income tax calculator: After ushering in new financial year from 1st April 2023, new income tax regime has become a by default tax regime for taxpayers. However, an earning individual will have the option to opt old income tax regime. From today, standard deduction of ₹50,000 per annum has also been extended in new income …
Senior Citizens Saving Scheme (SCSS): The Government of India (GoI) has announced small savings scheme interest rate effective from 1st April 2023. In this small savings interest rate from April 2023, the central government has raised Senior Citizens Saving Scheme interest rate to 8.20 per cent from SCSS interest rate of 8 per cent for …
Public Provident Fund (PPF) interest rate: The Government of India (GoI) has announced small savings interest rates for Q1FY24 for various small saving schemes. While declaring small savings interest rates from April 2023, central government announced 10 bps to 70 bps interest rate hike for various small saving schemes, which include Senior Citizen Savings scheme, …
The central government on Friday raised the interest rates on various small savings schems for the three months from 1 April to 30 June by 10 to 70 basis points, showed an official order. The highest increase is in the case of National Savings Certificate, on which interest rate has been raised from 7% which …
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New income tax rule 2023: After ushering in new financial year from 1st April 2023, a good number of income tax rules are going to change. These income tax rules have been changed on the basis of Union Budget 2023 proposals that have been passed by the parliament in recently through Finance Bill 20223. As …
The Finance Bill, 2023, with 64 official amendments, was approved by the Lok Sabha without discussion on 24 March. The key amendment that will affect all fixed income investors is about debt mutual funds. These funds have been stripped of the long-term tax benefit if they invest less than 35% of their assets in equities. …
I have been a US citizen for 15 years. Despite moving back to India in September, I continue to work for a US company and my salary is credited into a foreign bank account. How can I benefit from the double taxation avoidance agreement (DTAA) on my salary earned before October? Do I need to file …
How can I benefit from DTAA to avoid double taxation in India? .. indiabusinessport.com Read More »
“I was not aware of this condition until I got hospitalized. I was leading a normal life and then, all of a sudden, I was pushed out of action for almost four months. Soon after the diagnosis, I had to do a lot of running around—first trying to find a good surgeon and then a …
How health insurance saved them from financial ruin .. indiabusinessport.com Read More »
