The Central government’s Employees Provident Fund Organisation (EPFO) has decided to likely increase the auto settlement of the advanced claim (ASAC) limit to ₹5 lakh, compared to its current levels of ₹1 lakh, reported the news agency Yearsciting people aware of the development on Monday, March 31. LiveMint couldn’t independently verify the report. (This is … Read more
This dilemma stems from the intersection of insurance laws and succession laws, creating a legal gray area. The Insurance Laws (Amendment) Act, 2015, introduced the concept of a “beneficial nominee,” granting immediate family members—spouse, children, or parents—full rights to the policy proceeds. However, succession laws treat a nominee as merely a custodian, requiring them to … Read more
Ever since finance minister Nirmala Sitharaman redefined debt mutual funds in the July 2024 budget as those that invest more than 65% in debt, there’s been an upheaval in the mutual fund industry. That’s because pure debt funds are taxed at the holder’s income tax slab rate – which can be as high as 39% … Read more
My relative has gifted me some amount in my NRO (non-resident ordinary) account from her NRO account. I want to transfer this amount to my foreign bank account. Do I have to obtain CA certificate for this transfer too? -Name withheld on request. Form 15CB is required to remit funds from an NRO account to … Read more
Lifetime-free credit cards often come bundled with a bouquet of entry-level benefits that are adequate enough to lure folks who are new to credit and first-time credit card applicants. Some lifetime-free credit cards are packed with features and benefits that are of high relevance even for customers who carry fee-only cards. These credit cards command … Read more
Do you have demat accounts with multiple brokers? Not only are you paying higher annual maintenance charges (AMCs), but these charges add up for every such account. But there is a way to lower this payout: open a basic services demat account (BDSA). The annual maintenance charges of BDSA, introduced by market regulator Securities and … Read more
The Central Board of Secondary Education (CBSE) recently released the Class 10 and Class 12 syllabus for the academic session 2025-2026. Apart from major changes such as Class 10 Board exams being held twice, the CBSE has also come up with a new grading framework. Also Read | NEP 2020: Maharashtra to implement CBSE curriculum … Read more
Money rule changes from April 1 2025: March 2025 is coming to an end, ushering the beginning of a new financial year from April 1. The financial year 2025-26 will start from April 1, affecting citizens and taxpayers across India. New income tax rule changes, credit card rule change, UPI rule change and a host … Read more
Income Tax: If you are planning to opt for old tax regime at the time of filing your income tax return (ITR) in July this year for FY 2024-25, it is important to remember that the last date to invest in tax-saving instruments is March 31 i.e., Monday. If you also intend to file your … Read more