On Wednesday, Finance Minister Nirmala Sitharaman launched the NPS Vatsalya Yojana to enable children to start saving for their retirement. Parents can open an account for their children from birth to the age of 17. When the child turns 18, the Vatsalya account will be converted into a regular NPS account, allowing employer contributions when … Read more
NPS Vatsalya released: Finance minister Nirmala Sitharaman Last Tuesday, NPS Vatsalya, the scheme that allows parents to invest in a pension account for their children’s future, was launched. This new initiative allows parents to start saving for their children’s retirement at an early stage. Parents can open an NPS Vatsalya account online or at their … Read more
While strategies such as using multiple permanent account numbers (PAN) or shareholder quotas might slightly improve the chances of allotment, the odds remain slim. Bajaj Housing’s recent IPO, for example, saw prices double, but few managed to snap up the shares. So much so that X (formerly Twitter) was flooded with memes highlighting the struggle … Read more
A former FTX auditor will pay $1.95 million to settle two U.S. Securities and Exchange Commission cases, including one for alleged negligence in auditing the cryptocurrency exchange that Sam Bankman-Fried ran before being convicted of fraud. Prager Metis neither admitted nor denied wrongdoing in agreeing to Tuesday’s settlements, which include $1.75 million in civil penalties … Read more
Union Labour Minister Mansukh Mandaviya on Tuesday said that subscribers to the Employees’ Provident Fund Organisation (EPO)Office for the Promotion of Production), the government-run retirement savings manager, can now withdraw up to ₹1 lakh at a time from their accounts for personal financial needs, an increase from the earlier limit of ₹50,000, according to a … Read more
Credit cards are very helpful in managing your financial needs. For people with a stable but fixed income, especially salaried people, credit cards are a very useful tool as they allow you to meet expenses without spending your income right away. The 18-55 day credit-free period offered by most issuers, which includes multiple reward points, … Read more
In this world nothing can be said with certainty except death and taxes. – Benjamin Franklin. Effective tax planning enables salaried employees to optimize their net tax income. A crucial aspect of tax planning for middle-class salaried employees is to take advantage of deductions and exemptions within legal guidelines, deferring taxes and take advantage of … Read more
“This tax is as high as 35%, the same as what people who earn more pay ₹“1 crore fee,” said Harsh Roongta, founder of Fee Only Investment Advisers. Why? Because mandatory contributions to state insurance and pension funds are “tax-like” due to the difficulty of accessing the benefits or funds offered. Suppose Mr. A, based … Read more
I am a US citizen and have been residing there for over 25 years. I am now retired and have returned to India in May 2024. I will start receiving social security benefits from the next calendar year. Should I include this income in my Indian income tax return?—Name withheld on request Once you become … Read more
The concept is simple: For those living in apartments without enough space to install solar panels, SundayGrids helps them purchase solar panels that are installed elsewhere. The electricity generated by these external panels is deducted from their electricity bill. This is a novel solution that allows users to feel like they have a solar system … Read more
