In a ruling that could significantly influence the tax liabilities of Non-Resident Indians (NRIs) investing in Indian mutual funds, the Income Tax Appellate Tribunal (ITAT), Mumbai bench, has determined that capital gains earned by NRIs on the redemption of mutual fund units are not taxable in India. This decision was delivered in a case involving a Singapore-based NRI who had declared short-term capital gains from mutual fund investments but claimed exemption under the Double Taxation Avoidance

In a move that offers much-needed relief to Public Provident Fund (PPF) account holders across India, Finance Minister Nirmala Sitharaman has officially announced that individuals will no longer have to pay any fees to add, update, or remove nominee details in their PPF accounts. The announcement was made via a post on social media platform X and follows a recent government notification that amends the applicable savings rules. Through Gazette Notification 02/4/25, changes have been introduce

For Non-Resident Indians (NRIs), securing health and term insurance for themselves and their families back in India is more than just a financial obligation—it is a critical step toward safeguarding their loved ones and managing long-term security. As global citizens, NRIs often weigh the pros and cons of buying insurance in their country of residence versus opting for policies in India. What tips the scale in favor of Indian insurance are three strong reasons: affordability, extensive

In a noteworthy development signaling the economic progress of Andhra Pradesh, the state has recorded its highest monthly Goods and Services Tax (GST) collection in nearly a year. The GST revenue generated in the state for the month of March 2025 has reached an impressive ₹3116 crore, breaking past the ₹3000 crore milestone for the first time in the last 11 months. This also marks an 8.35 percent year-on-year growth compared to March of the previous year, indicating an upward trend in tax

As the new financial year commences on April 1, 2025, several significant income tax changes have officially come into effect, directly impacting salaried individuals, senior citizens, investors, and taxpayers across the country. Announced during Budget 2025, these updates aim to simplify compliance, improve transparency, and provide substantial relief to the middle class. From revised tax slabs to increased deduction limits and changes in TDS thresholds, here’s a complete breakdown of

As the new financial year begins on April 1, 2025, taxpayers, investors, and banking customers in India must prepare for several important changes in financial regulations. These reforms, previously announced by the government and regulatory bodies, are aimed at improving compliance, digital security, and financial transparency. Here’s a simple breakdown of the key changes that come into effect starting April 1.   1. Higher Income Tax Exemption Limit

In a major immigration reform move, US President Donald Trump has proposed a new visa scheme that offers a 'gold card' residency permit to foreigners willing to invest $5 million in the United States. This initiative aims to attract “brilliant, hardworking, job-creating people” while generating significant government revenue to balance the federal budget. Described as “like the green car

The Central Pension Accounting Office (CPAO) has issued fresh guidelines to streamline the pension disbursement process for retirees under the National Pension System (NPS). The new instructions aim to ensure that pensioners receive their dues on time without unnecessary delays. In a memo dated March 12, 2025, the CPAO emphasized the need to follow the same procedural framework as the Old Pension Scheme (OPS) to avoid errors. The CPAO’s latest reminder follows an earlier directive issue

The Income Tax Department has issued a crucial reminder for taxpayers regarding the final instalment of advance tax for the financial year 2024-25. As per the official directive, taxpayers must clear their advance tax dues by March 15, 2025, to ensure compliance with Indian tax laws. Timely payment of advance tax not only prevents interest penalties but also contributes to the government's efforts towards economic growth, supporting the ‘Viksit Bharat Movement’ aimed at making

Post Office Savings Schemes remain one of the most trusted investment options in India, offering secure returns backed by the government. Many of these schemes not only provide financial security but also offer tax benefits under Section 80C of the Income Tax Act, 1961. Investors can claim a tax deduction of up to ₹1.5 lakh per financial year when investing in these schemes, making them an attractive option for tax planning.However, these deductions are applicable only under the old tax reg

The Indian government has introduced the Income Tax Bill 2025, a major overhaul of the country’s tax laws, granting unprecedented investigative powers to tax authorities. While presented as a move to modernize tax compliance, the bill includes provisions that allow tax officers to access digital assets, emails, social media profiles, trading accounts, and cloud storage in cases of suspected tax evasion.Finance Minister Nirmala Sitharaman introduced the bill in Parliament, stating that i

The Indian government is working on refining the Production-Linked Incentive (PLI) scheme to increase local value addition and export-driven growth in key industries. While the scheme has successfully attracted investment across multiple sectors, officials believe that further improvements are needed to address import dependency and enhance India's global manufacturing competitiveness.Since its launch in April 2020, the PLI scheme has been instrumental in drawing substantial investments i

Choosing the right tax regime is an important decision for taxpayers in India. The old and new tax regimes offer different benefits, and individuals must carefully analyze their financial situation before selecting the most suitable option. While salaried employees have the flexibility to switch every year, business professionals have a more restricted choice.The decision between the two regimes depends on factors such as tax-saving investments, exemptions, and deductions. Understanding these

The Andhra Pradesh government, led by Chief Minister Chandrababu Naidu, has presented a record-breaking budget for the financial year 2025-26. With an overall outlay of ₹3.22 lakh crore, this is the first time in the state's history that the budget has surpassed the ₹3 lakh crore mark. Finance Minister Payyavula Keshav introduced the budget in the Andhra Pradesh assembly, outlining major allocations aimed at boosting welfare programs, infrastructure, agriculture, and social developmen

The Union Budget 2025 has brought a major tax relief for the middle class, with Finance Minister Nirmala Sitharaman announcing that individuals earning up to ₹12 lakh annually will have zero tax liability under the new tax regime. Additionally, salaried individuals can claim a standard deduction of ₹75,000, effectively making income up to ₹12.75 lakh tax-free. This move is aimed at simplifying tax compliance and increasing disposable income for millions of taxpayers.  

The Reserve Bank of India (RBI), in its latest bulletin released on February 19, stated that the tax cuts in the Union Budget 2025, along with moderating inflation, are expected to provide financial relief to the middle class and boost overall household spending. This announcement comes after the February Monetary Policy Committee (MPC) meeting, where the newly appointed RBI Governor, Sanjay Malhotra, emphasized the positive economic impact of the tax relief measur

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

Former Delhi Chief Minister and AAP leader Atishi has accused the newly formed BJP government of failing to fulfill its pre-election promise of providing a Rs 2,500 monthly allowance to women in its first cabinet meeting. In a video posted on X, she criticized the BJP for allegedly deceiving the women of Delhi.In response, newly appointed Delhi Chief Minister Rekha Gupta dismissed Atishi’s remarks, stating that the new government would operate on its own terms. "It’s our gove

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

On Monday, Telangana Chief Minister Revanth Reddy issued directives to ensure free sand supply for houses being built under the state’s ‘Indiramma’ housing scheme, which focuses on providing homes for economically weaker sections. During a review meeting on mines and mineral development, Reddy instructed officials to supply sand at reduced rates for the general public while ensuring that beneficiaries of the housing scheme receive it free of charge.   I