National Pension System: Now save for retirement in NPS, get tax benefit through Paytm Money

national-pension-system-nps-paytm-

National Pension System (NPS) on Paytm Money: Now NPA subscribers can save for retirement and enjoy tax benefits through Paytm Money. National Pension System (NPS) on Paytm Money: Now NPA subscribers can save for retirement and enjoy tax benefits through Paytm Money. The company said on Tuesday that it added NPS to its platform following approval from the Pension Fund Regulatory and Development Authority (PFRDA). In an official statement, Paytm Money said that the new addition will likely benefit investors by helping them save for their retirement while also enabling tax…

Read More

Income Tax Alert for salaried! Higher TDS may be deducted if you fail to select tax regime on time

New Income Tax rules

To facilitate the employer to deduct tax at source (TDS) from salary, employees need to declare their tax-saving investments in the beginning of every financial year. To facilitate the employer to deduct tax at source (TDS) from salary, employees need to declare their tax-saving investments in the beginning of every financial year, i.e. in April. But this year, the nationwide lockdown, that has been imposed in the third week of March 2020 to contain the spread of highly contagious Novel Coronavirus COVID-19, has caused delay in submitting the investment declaration.…

Read More

Aadhaar not linked to Ration card yet? Modi govt issues important clarification

aadhar card

The ministry has given specific instructions to all states and union territories (UTs) to not exclude any legitimate beneficiary or household from the entitled food grain quota. Aadhaar Card-Ration Card Link Online: If your ration card is not yet linked to the Aadhaar card, it will not stop you from getting food grains you are eligible for under the Public Distribution System. The Central Government has clarified that no one will be deprived of their food grain quota as the government has extended the seeding deadline for Aadhaar cards with…

Read More

PM Modi to hold video conference with CMs today: What to expect

pm_modi

PM Modi and the chief ministers are not only expected to discuss the lockdown exit strategy, but also its impact on the economy. Prime Minister Narendra Modi will hold a video conference with all chief ministers at 3.00 pm on May 11. Union Home Minister, Health Minister, Chief Secretary, Home Secretary, Health Secretary, the DGP and other officials are also expected to participate in the video conference. This will be the fifth interaction between PM Modi and the chief ministers since the novel coronavirus outbreak began in India. India has been under…

Read More

Haryana CM Manohar Lal Khattar announces incentives for MSMEs

haryana-cm

In view of the important role of micro, small and medium enterprises (MSMEs) in economic development, Haryana Chief Minister Manohar Lal Khattar on Saturday made several announcements to bring these industries back on track. In view of the important role of micro, small and medium enterprises (MSMEs) in economic development, Haryana Chief Minister Manohar Lal Khattar on Saturday made several announcements to bring these industries back on track. These include setting up bank complaint information centres for redressal of issues related to banks, extending the date to deposit electricity bills…

Read More

No PF deduction from salary for three months

Provident Fund

The government of India is trying its best to support citizens in these tough times of lockdown. Amongst a series of benevolent steps taken by the government, now employee’s contribution towards PF will not be deducted from their salary for the next three months, provided the employers to fulfill certain conditions. Similar steps have been taken up by the government to help and support those who are below the poverty line, and daily wagers. Like, early withdrawal of funds from APY has been permitted, advance pension for three months also…

Read More

5 changes in Income tax rules

New Income Tax rules

The new Financial Year 2020-21 (FY 2020-21) will see five changes in the Income-tax rules, which is in accordance with the budget presented this year. These changes were declared by the Finance Minister Nirmala Sitharaman. The Income Tax Department has given relief and extended the last day of filing the taxes to June 30th. This extension has come into effect due to the COVID-19 crisis, which has paralyzed the country and its financial machinery.  In FY 2020-21, the taxpayers can choose from any of the two income tax regimes declared…

Read More

New Income Tax rules for FY 2020-21 wef April 2020

New Income Tax rules

On February 1st the Finance Minister Ms. Nirmala Sitharaman had introduced certain changes in Income Tax rules, which will come into effect from 1st April 2020. The new financial year has started from April 1st. In Financial Year 2020-21 taxpayers will have an option to choose from the two tax slabs declared by the Finance Minister. One may opt for the old tax slab or choose to switch to the new tax slab. The new tax regime appears to be heavily loaded for investors in higher tax brackets and may…

Read More

GOI’s Mega Bank Consolidation to come into effect from 1st April 2020

Mega Bank Consolidation

The government of India’s (GOI) ambitious Mega Bank Consolidation plan is on schedule. Under this plan, the government is to consolidate 27 Public Sector Banks (PSBs) into 7 large ticket PSBs and 5 smaller tickets PSBs. Post consolidation of banks, the seven large tickets PSBs will have business of Rs. 8 lakh crore each and will have scale comparable to global banks. The consolidated banks will be better equipped to compete with global banks, both in domestic as well as international markets. Consolidated PSBs will have a larger lending capacity…

Read More

Yes bank will be saved by SBI

Yes Bank and SBI

Reserve Bank of India (RBI) has launched “Yes Bank Ltd. Reconstruction Scheme, 2020″, to save Yes bank from defaulting and shutting down. RBI will be supervising the rescue scheme. As a part of the scheme, State Bank of India (SBI) will be purchasing 7.25 billion equity shares of Yes Bank at Rs. 10 each, subject to the approval by SEBI and other regulatory bodies. The purchase of the shares has been approved by the executive committee of the board of SBI. The stake of SBI in Yes bank will remain…

Read More