The recent EPF reform has brought renewed attention to an aspect of the Employees’ Provident Fund that had long been overlooked. While the statutory mandatory contribution has always been linked to the prescribed wage ceiling of ₹15,000 ( ₹1,800 per month), many organisations continued contributing a flat 12% of higher wages for both employers and employees as an established payroll practice.
Warren Buffett, who started giving away his wealth two decades ago, has pledged to completely dispose of his roughly $140 billion stake in Berkshire Hathaway Inc. by 2034. His latest donation, comprising 12 million Class B shares, is instead going to four foundations led by his children, Susie, Howard and Peter. Noting that his children…
If you are an Indian resident who has already paid tax on income earned outside India, you may not have to pay tax on the same income twice. The Income Tax Department allows eligible resident taxpayers to claim a Foreign Tax Credit (FTC) by filing Form 67 along with the supporting documents. What is foreign…
Oil prices climbed more than 4% to their highest in more than a month on Friday after the U.S. and Iran stepped up attacks across the Gulf, with shipping threatened by a potential Red Sea closure on top of the restricted traffic through the Strait of Hormuz. Brent crude futures settled $3.87, or 4.59%, higher…
The Allahabad High Court has ruled that the Income Tax Department cannot issue a reassessment notice in the name of a person who has already died, holding that such a notice is void from the outset and cannot later be validated by simply substituting the deceased’s legal heir. The judgment provides important clarity for families…
The artificial intelligence boom is no longer the exclusive domain of global technology giants. In India, it has created an unlikely set of stock market winners: optical fibre manufacturers. No company has captured investor attention quite like Vedanta-backed (0.98% stake) Sterlite Technologies. The stock soared an astonishing 400% in 2026, making it one of the…
Taxpayers with a total income exceeding ₹1 crore have to adhere to an additional compliance requirement while filing their income tax return (ITR). Besides reporting their income, they must also disclose their assets and liabilities under Schedule AL of the relevant ITR form. This step is particularly important because incorrect or incomplete disclosures can attract…