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EPFO has made it easier for employees to transfer their provident fund balance after they switch employers. The entire process is expected to become automatic for Aadhaar-linked and KYC-compliant Universal Account Number (UAN) holders, the retirement body said on its website. The introduction of this provision is significant as it eliminates the need to submit…
JPMorgan Chase reported a record second-quarter profit on Tuesday, as a wave of big-ticket IPOs and dealmaking helped drive investment banking fees to their highest levels since 2021, while its trading desk capitalized on volatile markets. Revenue rose across all business units at the bank. Investment banking rode a sharp rebound in the U.S. IPO…
Mylan Inc sold shares worth Rs 1,839 crore in Biocon through a block deal on Tuesday, with several domestic mutual funds, insurers and foreign investors picking up the stock. According to exchange data, Mylan sold 4.59 crore shares of Biocon at Rs 400 apiece. The total value of the sell-side transaction stood at Rs 1,839…
Warren Buffett is ramping up the pace of his annual donations of Berkshire Hathaway Inc. shares to charitable organizations run by his three children, putting him on track to completely dispose of his stake in the company over the next eight years.For the first time in two decades, Buffett decided to skip his midyear donations…
My husband and I had to cut short our holiday abroad after he developed a severe allergic reaction to a prescribed antibiotic, causing extensive sunburn and photosensitivity. On medical advice, we returned to India earlier than planned and incurred additional expenses for rescheduling our flights. We both had separate travel insurance policies and filed trip…
The first funds of the Annapurna Yojana were credited to nearly 1.1 crore beneficiaries. West Bengal’s Chief Minister reported 1.6 crore applications were received, with 26 lakh rejected for various reasons.
A resident of Koramangala, Bengaluru who sold 17 apartments during April 1, 2019-March 31, 2020, and earned capital gains of ₹11.8 crore has won a tax dispute after he contested tax notices issued by the income tax department due to non-payment of income tax on these gains. Even though the landowner made substantial profits from…
Three schemes combined The 1961 Act had three separate presumptive taxation schemes—one for small businesses (6% or 8% of turnover, with turnover limits of ₹2 crore/ ₹3 crore), one for low-income professionals (50% of gross receipts, with receipt limits of ₹50 lakh/ ₹75 lakh), and one for transport operators of commercial goods vehicles (presumptive income…
Systematic Investment Plans (SIPs) have become the preferred route for millions of investors to build long-term wealth. However, many investors do it without assigning a clear purpose to each investment. This often leads to overlapping investments and makes it harder to track progress. “A SIP is merely a mode of investing. The real purpose should…
The 8th Pay Commission completed its meeting in Kokalata on 10 July. The discussions held during this visit provided a platform for concerned stakeholders, organisations, associations and unions to present their views and grievances to the Commission. The 8th Pay Commission will hold more meetings across the country and consider all views before recommending revisions…