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An annual salary of ₹60 lakh requires one additional step in tax calculation under the new tax regime compared to lower income levels. In addition to applying slab-wise tax rates, taxpayers must also account for a 10% surcharge, which applies once taxable income exceeds ₹50 lakh. Here is a step-by-step breakdown of how the tax…
The rules for withdrawing your entire Employees’ Provident Fund (EPF) balance are not the same for every member. While retirement at 55 remains the most common ground for full withdrawal, the EPF also permits members to claim their entire corpus in cases such as permanent disability, retrenchment, migration abroad and voluntary retirement. Here’s a detailed…
Following the EPF Scheme 2026, there has been ongoing debate over whether employers should restrict Employees Provident Fund (EPF) contributions to ₹1,800 per month. In a detailed post on X, Labour Law Reporter (LLR) said many HR, payroll and finance teams are asking whether employers can now restrict their PF contribution to ₹1,800 per month….
There are two kinds of credit inquiries. One is a ‘hard inquiry’, and the other is a ‘soft inquiry’. When any person applies for a new personal loan, home loan, credit card or any other similar kind of credit, a ‘hard inquiry’ is generally initiated on their credit profile. This inquiry assesses the individual applicant’s…
The Income Tax (I-T) department has announced the release of ITR-5 for taxpayers for the Assessment Year (AY) 2026-27. ITR-5 does not apply to individual taxpayers. It is meant for partnership firms, LLPs, Associations of Persons (AOPs), Bodies of Individuals (BOIs), cooperative societies, local authorities, artificial juridical persons and business or investment funds. Which Excel…
Euro zone government bond yields climbed to their highest levels in nearly a month on Wednesday as a sharp jump in oil prices heightened inflation concerns and prompted investors to increase bets on further interest rate hikes by the European Central Bank, according to Reuters. Germany’s benchmark 10-year government bond yield rose 5 basis points…
Assessment Year (AY) 2026-27: Resident and Ordinary Resident (ROR) taxpayers who own any foreign assets or earn income from overseas sources must file the correct return form and disclose these assets in Schedule FA. For individuals not subject to tax audits, the due date for filing ITR-2 is 31 July. Even a single foreign asset…
Shares of Chinese autonomous-driving software developer Momenta Global made a muted debut on the Hong Kong Stock Exchange on Wednesday, reflecting cautious investor sentiment despite the company’s successful HK$5.89 billion ($751 million) initial public offering, according to Reuters. The stock opened at HK$301, slightly above its IPO price of HK$295.60. It climbed to an intraday…
Shares of Naukri-parent Info Edge sharply surged another 5% on Wednesday, extending a 19% rally in just two days after the company released its quarterly business update for Q1 FY27, with brokerages issuing bullish calls for the stock. The company’s shares jumped to Rs 1,217.80 apiece on the NSE on Wednesday, the highest level seen…
Shares of Rashtriya Chemicals & Fertilizers (RCF) climbed as much as 2.88% on Wednesday to an intraday high of Rs 134.68 after the state-owned fertiliser company announced key fundraising and corporate governance decisions. In a regulatory filing, RCF said its board, at a meeting held on July 7, 2026, approved raising up to Rs 1,500…