The National Pension Scheme (NPS) is a government-backed retirement savings initiative designed to provide individuals with long-term financial security. With its tax benefits and flexible investment options, NPS is an attractive choice for those looking to systematically build a pension corpus. One of the most convenient ways to contribute to NPS is through a Systematic Investment Plan (SIP), which allows individuals to invest small amounts regularly, ensuring a d

As President Donald Trump's second term continues to take shape, small businesses across the country are facing mounting challenges due to shifting economic policies. The administration's new directives, including funding freezes, tariffs, and the rollback of diversity initiatives, have created a climate of uncertainty. While some of these policies have been temporarily halted by the courts, business owners are still contending with rising costs, higher in

Union Finance Minister Nirmala Sitharaman is expected to introduce a new Income Tax Bill in Parliament today that will replace the existing Income Tax Act of 1961. The purpose of this new bill is to simplify the language and provisions of the current tax law, making it easier to understand and more accessible for taxpayers. The bill is part of the government’s ongoing efforts to reform and modernize the Indian tax system. The new bill will streamline various processes, eliminate complex

  TikTok has made a dramatic return to app stores after its temporary removal from Apple and Google platforms on January 18. The popular social media app was reinstated on February 15, marking a major development in its ongoing battle with the U.S. government over national security concerns. The removal followed a controversial law that required ByteDance, TikTok’s China-based parent company, to divest its U.S. operations or face an outright

Joann, the well-known retailer specializing in fabrics and crafts, is undergoing a major restructuring plan that includes shutting down more than 500 of its nearly 850 U.S. locations. This significant downsizing effort comes amid financial struggles and an increasingly competitive retail environment. The decision is part of Joann's bankruptcy proceedings and is aimed at optimizing its physical presence to ensure long-term viability. Stores in 49 states

JCPenney has recently announced plans to close select store locations by mid-year as part of a targeted response to expiring lease agreements and shifting market conditions. This decision, while affecting only a small portion of its overall network of stores, reflects the company’s broader strategy to adapt to an evolving retail landscape. The closures come at a time when the retail environment is undergoing significant transformation, influenced by c

The social media platform X has agreed to pay 10 million dollars to former President Donald Trump as part of a settlement that brings an end to a legal dispute stemming from the suspension of his account. This resolution marks the conclusion of a contentious legal battle that had its roots in the events following the U.S. Capitol incident. In January 2021, two days after the events at the Capitol, X – formerly known as Twitter – made the decision to su

Why the U.S. Raised Tariffs on Steel and Aluminum According to the U.S. administration, the tariff hike is designed to strengthen the country's industrial base and national security. A statement released by the White House emphasized that excessive steel imports have weakened American manufacturing and put domestic jobs at risk. The policy reinstates full tariffs on steel and raises aluminum

Trump Suspends US Anti-Bribery Law, Potential Relief for Adani Group In a major policy shift, President Donald Trump has signed an executive order suspending prosecutions under the Foreign Corrupt Practices Act (FCPA), a law that penalizes individuals and companies for bribing foreign government officials to secure business deals. While the move a

Valentine’s Day Flowers Arrive in the U.S. as Miami Handles Nearly 1 Billion Stems MIAMI — With Valentine’s Day approaching, anyone forgetting to buy flowers won’t be able to blame a shortage. Leading up to February 14, agricultural specialists at Miami International Airport have processed approximately 940 million stems of cut flowers, according to U.S. Customs and Bor

GameStop and MicroStrategy Shares Rise After Ryan Cohen’s Photo With Michael Saylor Shares of GameStop and MicroStrategy saw an uptick on Monday after Ryan Cohen, CEO of the video game retailer, posted a photo with Michael Saylor, co-founder and chairman of the largest corporate holder of bitcoin. GameStop, a favorite among day traders and meme stock enthusiasts, climbed more than 7%, wh

McDonald’s Reports Lower-Than-Expected Revenue Amid U.S. Sales Decline but Foresees 2025 Recovery On Monday, McDonald’s announced weaker-than-expected quarterly revenue, primarily due to a drop in U.S. sales following an E. coli outbreak early in the quarter. However, the company’s stock rose by more than 4% in morning trading as executives expressed confidence in a sales rebound by

Trump’s Tech Power Play: How Silicon Valley’s Titans Could Shape His Political Future President Donald Trump is strengthening ties with some of the most influential figures in tech—Mark Zuckerberg, Jeff Bezos, Elon Musk, and Sundar Pichai—signaling a major shift in the relationship between conservatives and Silicon Valley. These tech moguls control platforms that dominate

The Union Budget 2025 has introduced significant changes to the income tax regime, offering relief to middle-class taxpayers. Finance Minister Nirmala Sitharaman proposed raising the basic exemption limit to Rs 4 lakh and increased the income threshold for the rebate under Section 87A to Rs 12 lakh. This means individuals earning up to Rs 12 lakh, with a standard deduction of Rs 75,000, can avoid paying taxes altogether. But for those earning more than Rs 12.75 lakh, choosing between the old

Volkswagen has filed a lawsuit against Indian authorities, contesting a $1.4 billion tax demand that the company describes as "impossibly enormous" and in violation of India’s import tax regulations. The dispute centers around the classification of car imports, with Indian officials accusing Volkswagen of misclassifying imports to avoid higher customs duties. In particular, Volkswagen allegedly broke down nearly complete vehicles into individual parts, which are subject to low

Income Tax: Union Budget 2025 introduces a revamped tax regime, with key reforms aimed at providing relief to the middle class. The new tax slabs are as follows: Up to Rs 4 lakh - 0% Rs 4-8 lakh - 5% Rs 8-12 lakh - 10%

DTC to Be Introduced Separately: Sources have confirmed that the much-anticipated Direct Tax Code (DTC), which seeks to simplify India’s income tax laws, will be introduced separately and not as part of the Union Budget 2025. Finance Minister Nirmala Sitharaman is expected to deliver the budget speech on Saturday, but the new tax code will be presented at a later date. This move marks a shift from earlier reports suggesting the DTC would be included with the budg

Satya Nadella Responds to Elon Musk and Sam Altman’s AI Spat In a recent interview, Microsoft CEO Satya Nadella responded to remarks from Elon Musk about the $500 billion Stargate AI project, which has sparked controversy between Musk, OpenAI CEO Sam Altman, and others in the tech world. Musk raised doubts about the funding behind the project, claiming it lacked sufficient backing, which le

With the Modi government set to present its second full budget for the third term in power, the middle and lower-income groups across India are hopeful for key reforms that could alleviate their financial burdens. The anticipated reforms in Budget 2025 include tax relief measures, simplification of income tax laws, and a focus on financial literacy, insurance, and retirement savings. Key Expectations from Budget 2025 Insurance Sector Reforms:

House Rent Allowance (HRA) is a component of an employee’s salary provided by employers to help cover rental expenses. Depending on various conditions, HRA may be partially or fully exempt from taxes. However, to benefit from this exemption, employees need to meet specific criteria. Is HRA Taxable? While HRA is part of an employee’s salary and is initially included in taxable income, it can be exempt under certain conditions. If the employee lives in a rented