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
Chennai-based Aptus Value Housing Finance plans to grow its assets under management (AUM) by 30% annually over the next three years, a senior company official said. Talking to FE, P Balaji, MD, Aptus Value Housing Finance, said: “Our goal is to reach `25,000 crore in AUM by FY28, which requires us to grow 30% annually over the
India’s rapidly growing art mart, conservatively pegged at around Rs 4,000 crore annually, is attracting marquee legal firms, making it the latest sought-after vertical on India’s legal canvas. Law firms including Cyril Amarchand Mangaldas (CAM), Khaitan & Co, DSK Legal, Dentons Link Legal, Anand and Anand are already providing niche art law services while others
By V K Sharma The Nifty ended the week up 426 points, or 1.93%, at 22,552, marking its first weekly gain after three consecutive losses and the highest percentage gain since the week of December 6. The NSE SmallCap Index surged 5.47%, while the Nifty MicroCap Index jumped 6.71%. Two key highlights of last week’s
Capital expenditures by state governments likely fell 6% year over year in the first ten months of the current financial year despite the Centre’s acceleration of capex loans to them, indicating that the states’ own investments have slowed down. FE reviewed the finances of 18 big states and found that their capex in April-January of FY25
From April 1, 2025, all central government employees (except the armed forces) will get the option to choose from two pension schemes — the National Pension System (NPS) and the Unified Pension Scheme (UPS). The NPS, which was launched in January 2004, replaced the Old Pension Scheme (OPS), and covers all departments under the central
