A mutual fund SIP (systematic investment plan) can be an excellent way of wealth creation in the long term for investors. The SIP mode of investment mitigates risks associated with market volatility through cost averaging and helps investors build a big corpus over time. In the last six months, Indian equities have seen sharp corrections
The new Income Tax Bill will be taken up for discussion in the monsoon session of Parliament, Finance Minister Nirmala Sitharaman said on Tuesday. Replying to the discussions on the Finance Bill 2025 in the Lok Sabha, Sitharaman said the new income tax bill, which was introduced in the House on February 13, is currently
While younger individuals in India are securing life insurance earlier—dropping the average first-time buyer age from 33 to 28—many remain underinsured, with coverage far below the recommended level of at least 10 times their annual income, according to a recent study by Bajaj Allianz Life Insurance, conducted in collaboration with NielsenIQ. The study, titled ‘Underinsurance
The Income Tax Department has issued an advisory urging taxpayers to file their updated Income Tax Return (ITR-U) before March 31, 2025, to avoid higher penalties and additional tax burdens. The department emphasized that timely filing would result in a lower additional tax of 25%, whereas filing after the deadline would increase the tax liability
With the financial year 2024-25 about to end, the filing of income tax returns (ITRs) for the Assessment Year 2025-26 will start from April 1. Like previous years, taxpayers can file their tax returns online and offline both. The Income Tax Department every year enables new forms, updates existing ones and launches Excel utilities to
The GST Council is reportedly leaning towards a middle-ground approach rather than a complete waiver for health and life insurance policies. At present, health and life insurance gross premiums attract 18% GST, and this is expected to be brought down to 5%, FE reported, citing sources. This reduction, rather than a complete waiver in GST
Health insurance is a crucial safety net, but for individuals with pre-existing conditions, navigating coverage can be complex. A pre-existing condition—any illness or health issue diagnosed before purchasing a policy—often impacts how insurers assess risk, determine premiums, and impose waiting periods. To address customer confusion, the Insurance Regulatory and Development Authority of India (IRDAI) has
The government has proposed an amendment to the Finance Act 2025 to clearly state that target of search and seizure operations by the tax department will be “total undisclosed income,” instead of “total income.” In the Finance Act 2024, when the block assessment regime for search and seizure cases was introduced, the term ‘total income’
A simple nudge campaign resulted in the declaration of foreign assets worth Rs 29,208 crores and foreign income of Rs 1,089 crores by 30,161 taxpayers in assessment year 2024-25, finance minister Nirmala Sitharaman told Lok Sabha on Tuesday. “We carried out a ‘nudge’ campaign in which we nudged taxpayers to voluntarily disclose their Foreign Income
The new Income Tax Bill which seeks to simplify the over-six-decades-old principal legislation on direct laws, will be taken up for discussion in the monsoon session of Parliament, finance minister Nirmala Sitharaman said on Tuesday. This indicates that the Bill may be pushed for consideration and passing in the next session, which typically commences in
If you want to earn higher returns on fixed deposits (FDs), this could be a golden opportunity for you. Many big banks are offering special fixed deposit schemes these days, in which they are offering attractive interest up to 8.05%. These special FD schemes available for a limited period offer higher returns than traditional FDs
JSW Steel will transfer its sponge iron unit at Salav village in Raigad, Maharashtra to its wholly-owned subsidiary JSW Green Steel, it said in disclosures filed with the exchanges on Tuesday. JSW Green Steel was incorporated in February last year to set up a four million tonne per annum (MTPA) integrated green steel plant, as
Kalpataru Projects International (KPIL), and its international subsidiaries, have secured orders worth Rs 2,366 crore in the domestic and global markets. The new orders include orders in the transmission and distribution (T&D) business in the country and overseas market and order in the buildings and factories (B&F) business across India. Manish Mohnot, MD & CEO
