Money

8th Pay Commission: Central government employees and pensioners were hoping that FM Nirmala Sitharaman in her Union Budget 2025 speech would announce the roadmap for the new pay commission and an outlay to implement their recommendations for revising salary and pension for over 1.2 crore central staff. Expectations were also high because the Modi government

The Union Budget 2025 has introduced a key amendment in the taxation of Unit Linked Insurance Policies (ULIPs), bringing much-needed clarity to how proceeds from these investments are taxed. Until now, ambiguity surrounded the tax treatment of ULIPs where premiums exceeded certain thresholds, creating confusion for investors. The latest clarification ensures that such ULIPs will

India’s leading asset management company SBI Mutual Fund has announced the launch of SBI Nifty IT Index Fund, an open-ended scheme replicating Nifty IT Index. When will SBI Nifty IT Index New Fund Offer be launched? The SBI Nifty Index NFO will remain for subscription for mutual fund subscribers from February 4 – 17, 2025.

The huge relief in the new tax regime will enhance take-home pay, spur consumption and reduce the allure of traditional tax-saving investments. However, individuals must continue to invest in Employees’ Provident Fund (EPF), National Pension System (NPS), equity-linked savings schemes (ELSS), term and health insurance for their long-term financial security even if the tax-saving incentive

Insurers could find it hard to sell life and health insurance policies, as the enhanced benefits under the new income tax regime reduce their appeal, particularly for those investing in insurance for tax-saving purposes. Finance minister Nirmala Sitharaman on Saturday proposed that no income tax will be levied on those earning up to ₹12 lakh

The Budget 2025 has proposed to extend the time limit to file updated income tax returns (ITRs) for any assessment year from the current limit of two years to four years, but that comes at a cost. In her Budget 2025 speech, Finance Minister Nirmala Sitharaman announced a proposal to extend the time limit for

The government has tried to remove redundancies in the Income Tax Act-1961, under the Bill to be tabled next week. The language has been made simpler, to the extent feasible, and the presentation has been made user-friendly, Central Board of Direct Taxes (CBDT) Chairman Ravi Agarwal told Priyansh Verma in an interview. On the implementation

Finance Minister Nirmala Sitharaman, in the Union Budget 2025-26, introduced significant changes to the New Tax Regime, tweaking tax slabs to make it more attractive for especially lower and middle-income taxpayers. With lower tax rates and minimal deductions, the new regime has been structured to simplify taxation, while the old regime continues to offer tax