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The Income Tax Department has revised its guidelines for compounding offences under the Income Tax Act, 1961. Compounding of offences allows individuals who have committed a tax-related default to acknowledge their mistake and apply to the tax authority for a resolution. If accepted, the authority may drop the case, often in exchange for a reduced

The Indian government has issued important new guidelines regarding the distribution of family pensions to ensure fair settlement between two wives of a deceased government servant or pensioner. This clarification comes under the Central Civil Services (Pension) Rules, 2021, and addresses complex issues surrounding legal marriages and pension eligibility. Key points from the guidelines: The

In an effort to improve how grievances from central government pensioners are handled, the Centre has issued new guidelines. The new guidelines, issued by the Department of Pension and Pensioners’ Welfare, Ministry of Personnel, Public Grievances & Pensions, are aimed at making the complaint process more sensitive, accessible and effective, according to an Office Memorandum.

If your objective is to amass Rs 1 crore through mutual fund investments, a straightforward guideline can assist you in achieving this goal over the long term. The 15-15-15 mutual fund investing principle provides insight into the necessary monthly savings, the duration of investment, and the expected growth rate to reach the target amount of

The Department of Pension and Pensioners’ Welfare (DoP&PW) has outlined how compulsory retirement, dismissal, or removal from government service affects the National Pension System (NPS) corpus for central government employees, a recent office memorandum dated October 11 revealed. The memorandum states that the Central Civil Services (Implementation of NPS) Rules, 2021 govern the matters related

In a recent development, the ECHS (Ex-Servicemen Contributory Health Scheme) has empaneled 40 private hospitals, nursing homes, and diagnostic centres. This decision was made during the 69th Screening Committee Meeting held on May 24, 2024. The Managing Director of ECHS received a formal order outlining the empanelment. This process follows guidelines from the Government of

Motilal Oswal Mutual Fund (MOMF) is managed by Motilal Oswal Asset Management Company (MOAMC), which is promoted by Motilal Oswal Financial Services Limited (MOFSL), a public company listed on both BSE and NSE. MOMF offers a variety of mutual fund schemes designed to help investors grow their wealth through professionally managed portfolios. The fund house

For senior citizens looking for opening a fixed deposit account in the near future, the present moment may represent an advantageous opportunity to proceed as the RBI may go for a rate cut any time soon following the rate reduction by the US Fed. And once this happens, banks will also follow suit. Fixed deposits