Stay on top of tax news and retirement planning updates. Our Tax & Retirement section breaks down important tax policies, filing tips, and retirement news, so you can confidently plan for a secure financial future.
A historic Supreme Court judgment has paved the way for many Employee Pension Scheme (EPS) members to apply for a higher pension. However, challenges persist for employees whose applications have been rejected or remain unprocessed by their employers. With the Employees Provident Fund Organisation (EPFO) setting a final deadline of January 31, 2025, for employers … Read more
In recent developments within India’s fintech sector, the GST Fitment Committee has made crucial clarifications about the tax exemptions for payment gateways (PGs) and payment aggregators (PAs). The clarification specifically addresses how these services will be taxed under India’s Goods and Services Tax (GST) framework, with significant implications for both fintech operators and merchants. This … Read more
In a significant move to curb tax evasion and increase transparency, the Income Tax Department of India has issued a clear directive regarding the reporting of foreign income and assets in Income Tax Returns (ITR). As per the latest guidelines, individuals and entities who are residents of India must disclose their foreign income and assets … Read more
The Employees’ Provident Fund Organisation (EPFO), India’s state-run retirement fund manager, is set to revolutionize access to provident fund savings. Starting January 2025, EPFO subscribers will be able to withdraw funds through an ATM card linked to their EPF account. This development is part of the larger EPFO 3.0 initiative aimed at modernizing the organization’s … Read more
The recent decision by the Delhi government to extend old-age pension benefits to an additional 80,000 senior citizens has sparked a debate between the ruling Aam Aadmi Party (AAP) and the opposition Bharatiya Janata Party (BJP). Both parties have highlighted the significance of this move, each attributing it to their respective efforts and raising questions … Read more
As November draws to a close, millions of pensioners across India are reminded of a crucial task: submitting their annual Life Certificate to ensure uninterrupted pension payments. This process has gained increased attention in recent years, particularly with the rise of digital solutions like Jeevan Pramaan. Understand what pensioners need to know, the benefits of … Read more