The Centre on July 24 accepted the recommendation of the Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) to increase the interest rate of deposits in Provident Fund (PF) to 8.15%. The new rate will be applicable for this financial year. Retirement fund body EPFO on March 28, 2023, had marginally…

Delhi-based marketing manager Akshay Chopra earns well, but also pays a high tax even though his salary is tax-friendly. This is because Chopra does not claim all the deductions available to him. TaxSpanner estimates that Chopra can reduce his tax outgo by Rs.1.9 lakh if he claims exemption for house rent allowance (HRA) and his…

Systematic investment plan variants Systematic investment plans (SIPs) are an effective tool for investing in mutual funds for the creation of long-term wealth. SIPs allow investors to put in fixed amounts at predetermined intervals. Here are the different variants: Regular SIP A regular SIP is the plain vanilla variant and the most common type. Here,…

Pension Fund Regulatory and Development Authority (PFRDA) has said that it will allow pension funds to invest in sovereign green bonds (SGrBs). As per a report in PTT, the government is expected to issue sovereign green bonds in the second half of the current financial year. The decision by the PFRDA to allow funds to…

Fintech firm One97 Communications which goes by the brand name of Paytm released their Q1 results on Friday. During the April-June quarter, the company narrowed its loss to ₹357 crore which was a sharp decline from ₹6,444 crore in the corresponding period last year. Paytm founder and CEO Vijay Shekhar Sharma talked about the growth…

Indians invest approximately ₹60 trillion every year. Of this, around 50% of household savings is invested in real estate and about 15% each in bank fixed deposits (FDs) and gold. Many investors prefer the safety and comfort of physical gold even though there are alternatives to this asset class in the form of gold funds…

As the last date for fling income tax return (ITR) 31 July is nearing, many taxpayers are yet to file their IT returns. But for those who have already filed their ITR, the income tax department has started sending refunds back to the accounts of those who are eligible for refunds. If a taxpayer fails…

Google has announced the full launch of its Nearby Share app on Windows, following a beta period that started back in March. Nearby Share has been a built-in feature on Android for many years, but until recently, you could only use it between Android phones. Essentially, it allows users to transfer files between devices over…

The Pradhan Mantri Kisan Samman Nidhi (PM Kisan Yojana) 14th installment is scheduled to be released by the Central Government next week. The government will release around Rs 8.5 crore to PM Kisan beneficiaries. Under the scheme, eligible farmers will receives Rs 2000 per installment and total of Rs 6000 in a year. It should…