Under the Income-tax Act and the Black Money Act, the relevant reporting trigger is ownership of an asset “located outside India”. The legislation does not refer to foreign exposure, overseas economic interest or investments funded through the Liberalised Remittance Scheme (LRS). Instead, the law focuses on the location of the asset owned by the taxpayer.
The share of direct plans has steadily increased over the past five years, but most investors continue to invest through regular plans despite the higher costs. According to the SBI Funds Management IPO RHP, direct plans accounted for 49.1% of the mutual fund industry’s assets under management (AUM) as of March 2026, up from 45.4%…
The Employees’ Provident Fund Organisation (EPFO) has moved its entire member database to a centralised platform under the Centralised IT Enabled Services (CITES) project, Union Labour and Employment Minister Mansukh Mandaviya said on Wednesday. The move is aimed at making EPFO services faster, transparent and user-friendly. According to Mandaviya, the CITES project modernises EPFO’s service…
The Employees’ Provident Fund Organisation (EPFO) has launched VISHWAS 2026, a one-time dispute resolution scheme that enables eligible employers to settle pending disputes over damages imposed for delayed provident fund (PF) contributions by paying reduced penalties. The scheme, which will remain open for six months from June 29, 2026, applies to specified disputes relating to…
New Delhi: India’s Statistical Business Register (SBR) will help map supply chain linkages, identify investment clusters and guide public investment in logistics infrastructure with the use of artificial intelligence (AI) and analytics services, statistics ministry secretary Saurabh Garg said on Friday. Privacy protections and consent-based data-sharing protocols will remain embedded in the framework, Garg said…
Introduction: In this article, I’ll delve into the essential aspects of understanding the eligibility criteria for a Flexi Loan, a versatile financial product offered by many banks and financial institutions. Flexi Loans are a popular choice for individuals seeking flexible borrowing options, but to access this financial tool, meeting certain criteria is imperative. Credit…
The public provident fund (PPF) is a top choice when it comes to long-term financial planning. Launched by the Centre in 1986, it is a reliable, low-risk government backed savings scheme with consistent and guaranteed returns and can be used to meet financial goals such as funding of wedding, children’s education abroad, buying a house,…