In the Union Budget 2025, the government increased the tax deduction at source (TDS) limit for interest earned on fixed deposits. For general citizens, the threshold rises to ₹50,000 from ₹40,000, while for senior citizens, it is raised to ₹1 lakh, doubling the previous limit. This move aims to simplify tax deductions and reduce the …
The 2025 Union Budget proposes removing conditions for homeowners to claim nil tax on two self-occupied properties. This simplifies the annual property value calculation and supports taxpayers with diverse housing needs. Budget 2025 Eases Tax on Two Homes In Budget 2025, Finance Minister Nirmala Sitharaman introduced a major tax relief for homeowners with two self-occupied …
Career progression often comes with job switches, higher salaries, and better opportunities. However, frequent transitions can impact your financial standing, particularly your eligibility for personal loans. Lenders assess various factors when reviewing loan applications, including income stability, employment history, and creditworthiness. While a salary hike may enhance your borrowing capacity, frequent job changes or pay …
In today’s digital era, obtaining an instant personal loan has become more accessible, especially with the Aadhaar card serving as a primary document for verification. Many lenders offer quick loans with minimal paperwork, making it a convenient option during financial emergencies. While an Aadhaar card simplifies the process, some lenders may still require additional documents …
February is set to bring several important updates in finance, from the Union Budget to changes in banking services and UPI rules. Here’s a summary of what to expect and how these changes may impact you: Union Budget 2025: What To Expect For Your Finances Ahead Of Nirmala Sitharaman Speech Finance Minister Nirmala Sitharaman will …
Complaints to RBI Ombudsman rise 32.81% from April 2023 to March 2024, with loan-related grievances topping the list. Online complaints dominate, reflecting customer awareness. The RBI addressed fairness in loan interest practices. Loans and Advances at the Center of Complaints The RBI Ombudsman Scheme saw a significant rise in complaints during the 2023-24 period, with …
The Union Cabinet has approved the formation of the 8th Pay Commission to revise the pay structure for over 50 lakh Central government employees just before the Union Budget 2025. This includes salary revisions and adjustments to the Dearness Allowance. Salary Increase Under the 8th Pay Commission The exact percentage of the salary hike under …
In FY 2023, the new tax regime became the default for all taxpayers. This means that unless you choose to opt-out, you will file your income tax return (ITR) under the new regime. The main benefit of the new regime is lower tax rates, but it does not allow several deductions available under the old …
Investing is not just about selecting the right stocks or funds; it is also about understanding how long it will take for your money to grow. The Rule of 144 is a handy formula that estimates the time required for an investment to quadruple based on the power of compounding. Understanding the Rule 144 The …
The Employees’ Provident Fund Organization (EPFO) has introduced several updates to simplify processes for members. These changes include an improved joint declaration process, a Centralized Pension Payment System (CPPS), clarifications on pension for higher wages, an easier way to update member profiles, and hassle-free PF transfers. Here’s a breakdown of these updates: Simplified Joint Declaration …
