The income tax return filing deadline for the financial year 2023-24 has been extended by 15 days, now set for December 15, 2024. The due date for filing returns under Section 139(1) of the Income-tax Act, 1961, for taxpayers required to submit a report under Section 92E, was November 30. According to an official order
Pension Rules for Central Government Employees: In a recent clarification, the Department of Pension and Pensioners’ Welfare (DoP&PW) has issued new guidelines regarding the inclusion of a daughter’s name in the family details of a central government pensioner. The clarification, issued last month, ensures that a daughter’s name will remain part of the pensioner’s family
The Kerala High Court has recently delivered a judgment regarding pension calculations, bringing cheer to government employees, particularly in the context of implementing revised pensions for university teachers under the University Grants Commission (UGC) pay scale. In a landmark ruling, the Kerala High Court has reaffirmed that pensions must be calculated based on revised pay
By Neeraj Agarwala As gold prices remain elevated, many investors would like to redeem their units in gold exchange traded funds (ETFs), digital gold, sovereign gold bonds and even sell some physical gold. It is important to understand the income tax implications of holding and selling gold in its various forms. Gold ETFs, physical gold
A term insurance with a limited premium payment plan is a smart choice for individuals looking to balance affordability with long-term coverage. It allows policyholders to pay off the premium within a shorter duration while still enjoying full coverage for the entire policy term. In such a term plan, while the policyholder pays the premiums
By Neeraj Agarwala I want to give Rs 80 lakh to my daughter to purchase a property. Will she have to pay gift tax? —Ramesh Mahandis Gifts received by an individual from a specified relative are fully exempt from tax, regardless of the amount. Specified relative includes a parent, so the gift of Rs 80
The government is expected to introduce the Insurance Amendment Bill 2024 during the winter session of Parliament, proposing some bold reforms for India’s insurance industry. Narayanan V delves into the potential changes and their impact on the industry What is likely to be included in the Bill? The Insurance Amendment Bill 2024 is expected to
Investing in dynamic bond funds can help individuals optimise returns across varying phases of the interest rate cycle. These funds have the flexibility to invest in both short-term and long-term bonds, depending on the fund manager’s assessment of the interest rate scenario. Predicting interest rate movements is a complex and nuanced process, even for seasoned
Specialty coffee chain Third Wave Coffee, which is rapidly expanding, has achieved store-level earnings before interest, taxes, depreciation, and amortisation (Ebitda) positivity in 90% of the outlets, according to a senior company official. “We worked hard last year to get our unit economics right. Currently, 90% of our stores generate positive Ebitda at the store
The commercial real estate market in the NCR region is undergoing a paradigm shift, with new trends setting higher benchmarks. As businesses seek greater flexibility and investors focus on high-return assets, SCO (Shop-Cum-Office) spaces have emerged as a preferred choice. These spaces seamlessly combine retail and office functionalities within a single unit. Experts highlight that
Last month, Union Finance Minister Nirmala Sitharaman tabled the Income Tax Bill, 2025 in Parliament. Once passed in Parliament, the Bill will become a law and replace the existing Income Tax Act, 1961. With this proposed law, which is expected to come into force on April 1, 2026, the government aims to simplify and modernise
Women homebuyers are increasingly gravitating toward premium properties, with the Rs 1-2 crore segment emerging as the most preferred budget category. With rising financial independence and a greater role in decision-making, their demand for high-value homes has grown significantly, according to Magicbricks Research. In 2023, 27.8% of demand from women buyers was for homes priced
The traditional idea of the male breadwinner led to a narrow view of financial protection that underestimated a woman’s contribution to a household. This is why life insurance was viewed as a product catering primarily to the male consumer segment. However, this couldn’t be farther from the truth. Apart from financial contributions, women make non-tangible
