Retirement fund body Employees’ Provident Fund Organisation’s (EPFO) has hiked the death insurance benefits for employees’ deposit-linked insurance (EDLI) scheme beneficiaries, amidst the onslaught of the second wave of the COVID-19 Pandemic. The retirement fund body has hiked the minimum death insurance benefit to Rs 2.5 lakh while the maximum benefits have been raised to …
There is a big relief news for those filing Income Tax Return. The government has extended the tax compliance and Income Tax Return deadline to May 31 for the financial year 2020, in view of the rising outbreak of the Corona epidemic. Taxpayers can also file Revised Return for FY 2020. Income Tax Return, Tax …
PF Balance Transfer: It is often seen that when people change jobs from one company to another, they forget to transfer their PF balance, when later they remember, then they get nervous thinking that they are now in the EPF office Will have to travel. We are going to tell you that if you have …
Central Board of Indirect Taxes and Customs (CBIC) has set up dedicated helpdesk to handle queries related to Covid related Imports and handhold the trade, industry and individuals for expeditious customs clearance. As you are aware, the Government of India is committed to ensure seamless and quick customs clearance of COVID related imports, so that …
New ITR Form: Income Tax Department has notified the IT return form for the financial year 2020-21. The Central Board of Taxes (CBDT) has given this information. The CBDT has said that keeping in mind the convenience of Corona epidemic and Taxpayers (Taxpayers), there has not been much change in the new ITR form as …
The Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved a fresh Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) & Australia and New Zealand (CA ANZ). Impact: The MRA intends to develop mutually beneficial relationship in the best interest of members, students and their organizations and is expected …
The provisional payroll data of EPFO has been published on 20th April, 2021 highlights a growing trend with the addition of 12.37 lakh net subscribers during the month of February, 2021. Despite COVID-19 pandemic, EPFO has added around 69.58 lakh net subscribers during the current financial year. The data reflects growth of 3.52% in net subscribers addition in …
People still have confidence in PPF Investment: Public Provident Fund , this is an investment on which you get good interest, as well as good savings on tax. If you invest even 1000 rupees a month in Public Provident Fund, then it reaches lakhs of rupees. We are going to tell you how you can …
Let us now explain how interest is calculated. Interest on PPF is calculated on the amount in the account from the 1st to the 5th of every month. That is, if you put money in PPF account till 5th of any month, then that money will get interest in the same month, but if you …
Before deciding the tax interest earned by private sector employees contribution over the 2.5 lakh towards provident fund from April 2021, the government had decide to bring employer’s contribute of over 7.5 lakh towards retirement saving to tax net last year. in the previous year Budget Finance Minister Nirmala Sitharaman decide to tax employer’s contributions …