section 80c tax benefit on epf

A change in how social security benefits are calculated by employers under the new labour codes could affect your in-hand salary.

Purchasing a second home involves significant tax considerations beyond the initial purchase price. Stamp duty, registration fees, and GST are upfront costs. Income tax implications vary based on whether the property is self-occupied, vacant, or rented out, with different deduction rules under old and new tax regimes. Understanding these nuances is crucial for financial planning.

New industrial policy ‘designed’ to directly encourage companies to recruit local youth

Non-Resident Indians can invest in Indian real estate, including residential and commercial properties, and land for construction, under FEMA rules. While agricultural land is restricted, NRIs can purchase apartments, offices, and plots. Key documents and tax compliance are essential, with specific deductions available for interest and principal payments. Payments must follow prescribed banking channels.

Capital gains tax rules on Property changed from July 23, 2024. Long-term gains now face a 12.5% tax without indexation, a shift from the previous 20% with indexation. However, those who bought property before this date can choose the old or new system. Exemptions under Sections 54, 54F, and 54EC remain available.

As the landscape of property buying in India evolves, so too must buyers' understanding of tax obligations. Non-compliance with TDS rules, particularly for deals involving NRIs, may incur hefty fines and surcharges.

Mumbai ITAT grants capital gains tax relief to a taxpayer who filed his Income Tax Return late. The tribunal ruled that reinvesting gains into a new property before a belated return fulfills Section 54 requirements, even without depositing funds in the Capital Gains Account Scheme.

EPFO members will soon withdraw provident fund money directly using UPI. Testing is complete, and funds will transfer to linked bank accounts. This move simplifies access for over seven crore members. EPFO is also enhancing services through WhatsApp and has significantly reduced litigation cases. These initiatives aim to improve service delivery and member convenience.

…but the taxman does. Here’s how the income tax department is using data-driven nudges — not raids — to get taxpayers to come clean

Tamil Nadu theatres can now screen five shows daily for new films during their initial week and on weekends/holidays. This significant rule change, following industry discussions, eliminates the need for special permissions for these extra screenings. The move aims to boost flexibility for exhibitors and cater to increased audience demand, marking a key reform for the state's cinema landscape.

Tax Experts Flag 12.5% LTCG On Gold Exchange

A new University of Waterloo study reveals vitamin C's crucial role in mitigating digestion-related cancer risks. Researchers used mathematical modeling to show how vitamin C, found in fruits and vegetables, can reduce the formation of harmful compounds linked to cancer from nitrates and nitrites in food. This suggests dietary vitamin C or supplements could offer protection.

Goldman Sachs maintains a neutral stance on ITC, anticipating cigarette tax impacts. Citigroup is bullish on LIC, citing strong operational performance and margin expansion. Jefferies raises its target for Nykaa, impressed by robust growth and improving margins. CLSA sees significant potential in Honasa, with strong revenue and margin growth. Morgan Stanley remains overweight on LG Electronics India, despite margin pressures.

A Bhopal family faces a grim dilemma: claim their daughter's body or pursue a second post-mortem amid decomposition fears. Twisha Sharma, 33, was found dead five months after her wedding. Her parents suspect foul play and demand an independent autopsy, but the mortuary's limited preservation facilities raise concerns about vital evidence.

Google co-founder Sergey Brin is investing heavily in San Francisco local politics, contributing $500,000 to oppose the "Overpaid CEO Tax" (Measure D). He is also backing a competing business-friendly proposal, as he wages a personal campaign against wealth redistribution laws, citing his family's experience with socialism.

Over 90k house owners to benefit from this scheme

Genetic Data In FSL Report Inconclusive, But Court Relies On Survivor’s Testimony, Medical Evidence