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If you are a software engineer earning additional income by developing and selling mobile applications as a side business, you may consider the presumptive taxation scheme under Section 44ADA while filing your income tax return (ITR). The scheme can simplify tax compliance and may allow eligible taxpayers to account for expenses related to their professional…
A ₹4.5 crore retirement corpus invested in a fixed deposit (FD) at a 7% interest rate earns about ₹37.33 lakh in interest over a year. However, it also pushes income into the 30% tax slab, attracting around ₹7 lakh in taxes under the new tax regime, leaving the retiree with roughly ₹30.33 lakh a year….
A Haryana man declared an income of ₹1.79 lakh. But the tax department added ₹11.22 crore to his assessed income. In an unusual twist, a tax tribunal has granted him one final opportunity to substantiate his case before the Assessing Officer. To receive that opportunity, he must plant 500 trees within one month. If he…
Axis Bank has announced a series of changes to its credit card terms and conditions, which will come into force on 28 August 2026, affecting charges on certain international transactions, late payment fees, reward benefits and the adjustment of partial payments. Using an Axis Credit Card? New rules take effect August 28 One of the…
Wall Street’s major indexes climbed higher on Friday, a day after witnessing heavy losses, even as they were poised for a lower finish for the week amid pressure from rising government bond yields and lingering geopolitical uncertainty, Reuters reported. The S&P 500 and technology-focused Nasdaq were on course to break a run of three consecutive…
Naturally Yours founder Vinod C has urged fellow founders to pay themselves, no matter how much. The startup founder argues that even a modest salary, around ₹25,000, matters. Building a startup, he wrote, shouldn’t mean complete financial self-punishment. Many founders proudly claim years without any personal salary whatsoever. “Whether you are bootstrapped or funded, building…
Buying a home is one of the biggest financial commitments for most people. But what happens when a newly constructed house develops serious defects and the builder fails to fix them? A recent order by the Kollam District Consumer Commission in Kerala offers an example of the relief a homebuyer may receive when construction does…
State-owned banks offer higher returns on special-tenure fixed deposits (FD), outperforming standard term deposits. Among these, the 444-day FD scheme is a popular pick for general citizens seeking higher yields over a 14.5-month horizon. Here is how the top public sector undertaking (PSU) banks stack up for a ₹5 lakh investment based on current interest…
Turning 60 in India is often viewed as the point when regular earnings stop. But it also unlocks advantages that can help cushion retirement finances. On Senior Citizens’ Day on 21 August, let’s discuss the financial benefits seniors can avail. Reaching 60 unlocks a range of financial benefits in India. These span higher interest rates,…
‘Rich Dad Poor Dad’ author Robert Kiyosaki has highlighted the often-overlooked cost of financial ignorance, stating that investing in knowledge can be more valuable than simply focusing on the price of financial education. Kiyosaki took to X on Friday and said he spent the previous week attending Ken McElroy’s “Collective” and “Limitless” programmes in Phoenix….