NPS Monitoring Rule: The Department of Pension and Pensioners’ Welfare (DoPPW) has informed that an NPS oversight mechanism would be set up in each ministry and department to ensure proper monitoring of contributions made by central government employees towards the National Pension System (NPS). The Monitoring Rule for NPS (National Pension System), under the NPS
Gold prices ahead of Dhanteras, Diwali: Domestic gold prices have rallied nearly 30% in the past one year and are now hovering around Rs 80,000 per 10 grams level for the last one week. Since last year’s Diwali on November 10, the precious metal has seen its price jump from Rs 60,750 to Rs 78,700
Question: What are the tax implications for gifts and bonuses received during Diwali under the Income Tax Act, 1961? Response given by CA (Dr.) Suresh Surana:During Diwali, individuals often receive gifts from employers, relatives, and friends. It is essential to understand that, under the provisions of the Income Tax Act, 1961 (hereinafter referred to as
MobiKwik, a prominent digital financial services platform in India, has introduced an Instant Fixed Deposit (FD) feature within its mobile application, collaborating with Small Finance Banks (SFBs). This initiative is designed to streamline the savings experience for its users. With MobiKwik Fixed Deposits, individuals can commence their investment journey with a minimum amount of Rs
Dwarka Expressway, India’s first elevated eight-lane highway, is rapidly evolving into a leading commercial and residential corridor in Delhi NCR. It has become a prime destination for real estate development in the Capital, offering opportunities for both businesses and homeowners. Residential and Commercial Boom Along the Expressway The construction of the Dwarka Expressway has triggered
Central government pensioners turning 80 will receive an additional pension in the form of additional compassionate allowance, the Department of Pension and Pensioners’ Welfare (DoPPW) clarified in an Office Memorandum issued on October 18. The DoPPW, which comes under the Ministry of Personnel, PG & Pensions, has shared new guidelines regarding additional pensions for central
When it comes to choosing between term insurance and whole life insurance, this can be tricky. Term insurance is like renting coverage for a fixed period. During this period, you pay either a lump sum or periodically to get a coverage to give your loved ones a financial security in case of your death. While
Do you often keep contemplating the amount needed to save in order to become a crorepati? There is no need for concern; achieving this goal is within your reach. Various strategies exist to accumulate one crore or even more over an extended period. Whether your target is accumulating a corpus of Rs 1 crore, Rs
Tax saving is one of the key factors when it comes to savings and investments for middle-class taxpayers and senior citizens. As regards senior citizens, they aim for financial security by investing their money primarily in non-market-linked products, which give them a sense of safety in times of volatile stock markets. Another key aspect of
ICICI Prudential Life Insurance Company’s share price slumped 10% to an intra-day low of Rs 572 despite reporting a 43% year-on-year jump in its net profit. The life insurance company reported a net profit of Rs 325 crore compared to Rs 227 crore in the same quarter a year ago. However, despite a stellar performance
The brokerage firm Kotak Institutional Equities has reaffirmed its ‘Buy’ rating on Karur Vysya Bank (KVB), citing the lender’s strong fundamentals and consistent financial performance as the key reasons for the positive outlook. According to them, the bank’s return on equity (RoE) of 17% and strong earnings growth have prompted the brokerage to increase its
Denta Water, a company specialising in the water treatment sector, has opened its IPO with a total size of Rs 220.50 crore today , January 22. As of the first day of bidding, the IPO made waves in the grey market, garnering the attention of many investors and analysts. Let’s take a look at the
Lenders frequently require certain loan applicants to provide loan guarantors. This condition is typically imposed when there are uncertainties regarding the repayment ability of the primary borrowers and co-borrowers. Additional circumstances that may prompt lenders to request loan guarantors include insufficient credit scores of the primary applicants, a precarious employment situation, loan amounts that surpass
