FINANCE

Till 5th July if the ITR filed under new tax regime then rebate of Rs.25,000 is available if Total Income including special income is up to Rs.7,00,000  From 5th July onward the rebate u/s 87A was not available for special income in New Tax Regime Effect of Above Change  -ITR filed before 5th July and Processed before 5th July got the benefit of rebate u/s 87A -ITR filed before 5th July with rebate u/s 87A were getting processed now with tax demand to the extent of tax on special income -ITR filed before 5th July where rebate was not given because total income (normal+special) was above 7 lakh but normal income was up to 7 lakh were getting processed with refund because department considering the 7 lakh income limit for normal income only Till 15th July majority of tax payers have filed ITR with rebate u/s 87A for special income now all are getting demand to the extent of rebate claimed on special income Now Tax Payers can't change the regime from new to old because the due da...

KEY POINTS: • ASSURED PENSION: 50% of average basic pay drawn over the last 12 months before retirement, with a minimum service period of 25 years. • PROPORTIONATE PENSION: For shorter service periods, with a minimum pension of Rs 10,000 per month after 10 years of service. • FAMILY PENSION: 60% of the employee's pension upon their demise, ensuring continued support for loved ones. • INFLATION INDEXATION: Pension adjusted according to inflation, ensuring the value of the pension remains intact. • LUMP SUM PAYMENT: A one-time payment at superannuation, providing a financial boost. • 23 LAKH BENEFICIARIES: Approximately 23 lakh central government employees will benefit from this scheme. • IMPROVED RETIREE LIFE: Enhanced financial security and peace of mind for retirees.

It took decades of struggle, rivers of blood, and countless sacrifices to win our freedom  🇮🇳🚨  On this 78th Independence Day, as we honour our past, we must also face the truths that will shape our future.  Let us not stay silent about the real issues. Ignoring them won’t unite us. Only by acknowledging, addressing, and hearing them out can we truly come together!  Before reading further, please note, this isn't to criticise anyone. Leave political affiliations aside & read with an open mind. ‘Wealth Inequality’ The combined wealth of the richest 100 Indians is greater than the total wealth of 60 crore Indians. The wealthiest 1% now control a staggering 40% of the nation’s wealth, while 50% of Indians own just 13% of it.  This is one of the biggest challenges and is also among the top five risks identified by the World Economic Forum’s Executive Opinion Survey 2024. Addressing this in a vast country like ours is still a significant question. We need to f...