34 C 
Section 44ADA allows eligible professionals to pay tax on 50% of their gross receipts as taxable income, treating the rest as a deemed expense deduction. The scheme applies to specified professionals with receipts up to 50 lakh, extendable to 75 lakh if cash receipts are within 5%.
Over 3 crore ITRs already filed: What happens if you miss 31 July deadline? Tax experts explain
With more than 3 crore Income Tax Returns already filed, taxpayers have a limited time before the 31 July 2026 deadline. Missing it can lead to late-filing fees, interest, refund delays, psychological stress, and loss of tax benefits, making timely filing essential.
Small-cap investing has historically delivered strong return potential but with frequent sharp corrections. Data from Nifty Smallcap 250 TRI show that staying invested through volatility and adopting disciplined approaches, such as SIPs, reduces the impact of market timing on long-term outcomes.
Forgot your UAN? Here's how to retrieve it online through the EPFO portal
The Universal Account Number (UAN) is essential for checking your PF balance, filing claims and accessing other EPFO services. Here's how members can recover a forgotten UAN online or through EPFO's offline facilities.
EPFO has urged salaried employees not to withdraw EPF savings for mutual funds, highlighting EPF's retirement, pension and insurance benefits. Here's how EPF differs from mutual funds, key features, tax benefits and practical investment takeaways for long-term financial planning.
Can an insurer reject your claim over a tax issue? Consumer panel answers
A Rajasthan consumer commission has reportedly ruled that insurers cannot reject an otherwise valid claim merely because of an unrelated tax irregularity. The decision underlines that the reason for claim repudiation must have a direct link with the insured loss.
Parag Parikh Flexi Cap Fund among the top 7 flexi cap mutual funds to invest in July 2026
Parag Parikh Flexi Cap Fund, HDFC Flexi Cap Fund and five others feature among the top flexi cap mutual funds for July 2026, shortlisted on rolling returns, consistency, downside risk and outperformance.
Will a Rs 42,500 monthly SIP with a 10% annual step-up help you retire early?
A 35-year-old investor from Hyderabad, aiming to retire in the next 10 years, sought expert advice on whether his Rs 42,500 monthly SIP portfolio can help build a retirement corpus of Rs 1 crore. While the target appears achievable with disciplined investing, the expert recommended simplifying the 14-fund portfolio and reviewing retirement needs beyond just the corpus size.
Global diversification matters more than ever, says Marcellus' Saurabh Mukherjea
Marcellus Investment Managers' founder and CIO Saurabh Mukherjea argues that portfolios anchored solely to domestic markets may no longer be enough.
The Centre has introduced a paperless CGHS pensioner card application process through the Bhavishya Portal for retiring central government employees. The move enables auto-filled applications, PAN-based verification, online payment and faster access to CGHS healthcare benefits after retirement.
Revised ITR cannot take away capital loss carry-forward if original return was filed on time: ITAT
A Bengaluru taxpayer won relief after the Income Tax Appellate Tribunal held that filing a revised ITR does not extinguish the right to carry forward capital losses if the original return was filed within the prescribed due date.
The e-Pay Tax facility allows taxpayers to pay direct taxes online quickly and securely without visiting a tax office. It supports both pre-login and post-login payments through multiple payment modes, offering flexibility and easy access to challans and payment records.
Gold and silver prices today, 23 July: Check the latest 24K, 22K gold, and 999 silver retail rates across Delhi, Mumbai, Kolkata and other major Indian cities, along with MCX market updates and how they are affected by ongoing geopolitical developments.
Best balanced advantage funds or dynamic asset allocation funds to invest in July 2026
Balanced advantage funds dynamically manage equity exposure based on market conditions. These hybrid schemes invest in stocks, debt, and arbitrage opportunities. While advisors recommend them, these funds are not entirely risk-free investments. Investors should tolerate stock market volatility and have a five-year horizon. Edelweiss and ICICI Prudential Balanced Advantage Funds are recommended options.
First-time home buyers: 5 mistakes that can increase your EMI burden
First-time home buyers often make costly loan mistakes that increase EMIs and overall repayment burden. Experts explain how tenure, down payment, credit score, hidden costs and borrowing limits impact home loan affordability, helping buyers make smarter financial decisions.
Petrol, diesel prices today, 23 July: Petrol and diesel prices across India remained unchanged even as Brent crude climbed to $95.5 per barrel, its highest level in more than six weeks, amid mounting concerns that the escalating conflict in the Middle East could disrupt global oil supplies.
8th Pay Commission is expected to submit its report by MayJune 2027. Here's how inflation, cost of living, economic conditions, pay parity and the fitment factor could influence salary hikes, pensions and allowances for over 1.1 crore central government employees.
Why share of passives still remains small in India's mutual fund industry
Passive funds still account for just 16% of India's mutual fund assets, a fraction of the US's 55%, with growth driven mainly by corporate investors.
SpaceX shorts are betting $25 billion against Elon Musk. Is it time to cover?
SpaceX's short positions surged to 206 million shares, accounting for 32% of its public shares, valued at $25 billion. Despite recent bearish sentiments, analysts remain optimistic, with over 80% recommending a buy and potential for significant growth ahead.
Unutilised CGAS funds: Don't let 3-year exemption deadline trigger tax notice
A widespread misconception exists that capital gains tax remains deferred until funds are physically withdrawn from the CGAS account.
Income-tax returns: Here's how to file ITR online without a CA? A step-by-step guide for FY26
Filing your income tax returns can be a tough task for first-time taxpayers and salaried individuals alike. Here's a stepwise guide to filing your ITR online yourself, without a CA or tax professional.
SpaceX has lost nearly $1 trillion in market value in five weeks, despite optimism from analysts. The stock rose to $225.64 before plunging 21%. Currently, over 80% of analysts recommend buying, viewing recent declines as potential opportunities despite concerns over high valuations.
8th pay commission: Current house rent allowance rates were set in 2017 last, according to National Council Joint Consultative Machinery. Here's why the NC-JCM has demanded that HRA be revised
Dearness Allowance: West Bengal CM Suvendu Adhikari says aim to implement 7th pay commission this fiscal and bridge the salary gap between its state and central government employees with DA hike.
Can my father sell ancestral property without my consent?
If your father inherited property from his father, can he sell or bequeath it without your consent? Here's what Hindu law says about ancestral property and coparcenary rights.
SOA vs demat account: Which option is better for mutual fund investors after SEBI's latest move?
SEBIs move to allow standing instructions for SWP and STP facilities on demat-held mutual fund units is a significant step towards improving investor convenience. While SOA may offer lower costs, demat provides consolidated portfolio management and a single nomination facility for investors.
Beneficiaries under Andhra Pradesh's Talliki Vandanam scheme 2026 have begun receiving their 13,000 deposit in their accounts from today, 22 July. We explain the eligibility criteria, how to apply, and how you can check payment status.
Digital lending in India: How Aadhaar, payments and account aggregators are changing credit
India's lending ecosystem has evolved through digital innovation and public-private partnerships, enhancing data sharing and analysis.
Buying or investing in silver: Here's how silver ETFs, FoFs, jewellery and utensils are taxed
The tax treatment of silver depends on the investment route and the holding period. While capital gains tax applies to ETFs, FoFs and physical silver, the purchase of physical silver also attracts GST.
How account aggregators are making credit more inclusive in India
India's Account Aggregator framework enhances Open Finance by enabling secure, consent-based sharing of financial data.
Sold inherited property at a loss? Check how to report capital loss in ITR-2 and save future tax
Selling inherited property at a loss requires correct reporting in ITR-2. Understand capital loss calculation, carry-forward rules, documentation needs and tax filing steps to claim eligible benefits and stay compliant under the Income Tax Act.
Foreign assets from past years in AIS? Don't panic, use them as a compliance check.
The AIS now displays foreign assets and income for CY2022-24. But taxpayers should use it to verify past disclosuresnot report the same information again in this year's income tax return.
Multi-cap mutual funds continued to attract strong investor inflows in June 2026, even as returns varied widely across schemes. While most funds delivered positive one-year returns, only four ended in the red in the last one year period.
Crowdfunding and tax: why good intentions alone don't guarantee exemption
Crowdfunding may be driven by compassion, but that doesn't automatically make the money tax-free. Here's what the law says, why the rules remain unclear, and how to avoid future tax disputes.
Made a mistake in filing income tax return? Here's how to discard it before verification
The Income Tax Department allows taxpayers to discard an Income Tax Return (ITR) and file a fresh one if they spot mistakes before verification. However, if the fresh return is filed after the due date, it will be treated as a belated return.
ITR verification deadline: 5 easy ways to e-verify before your income tax return becomes invalid
Income tax return filing is incomplete without e-verification. Here are five quick ways to verify your ITR within 30 days, avoid your return being treated as invalid and ensure faster processing and tax refunds before the filing deadline.
ITAT Mumbai allows Section 87A rebate on STCG: Heres what taxpayers need to know
ITAT Mumbai has allowed a taxpayer to claim the Section 87A rebate on tax payable on short-term capital gains for AY 2024-25. The ruling clarifies that the rebate cannot be denied for STCG when the law applicable for that year did not specifically restrict such benefit.
Gold and silver prices today, 22 July: Check the latest 24K, 22K gold and 999 silver retail rates across Delhi, Mumbai, Kolkata and other major Indian cities, along with MCX market updates.
Ignoring a crypto tax notice can lead to reassessment, penalties or even prosecution in some cases. Timely reconciliation of records and responding within the prescribed deadline can help investors avoid unnecessary tax disputes.
NaBFID zero-coupon bonds explained: Investment size, returns, maturity, tax rules to know
NaBFIDs 20,000 crore zero-coupon bonds offer investors a 10-year fixed-income option with no regular interest payouts. Here are the issue price, maturity value, expected returns, taxation rules and key factors to consider before investing in these infrastructure-focused bonds.
Sebi simplifies certification rules for SIF distributors
Sebi has eased certification rules for Specialized Investment Fund distributors. A new certification allows selling both mutual funds and SIFs. This new NISM Series V-D certification is now required for SIF distributors. Those holding this certification can distribute both product types. Existing mutual fund-only distributors retain their NISM Series V-A requirement.
8th Pay Commission talks gain momentum as fitment factor hinges on fiscal realities
8th Pay Commission: Fitment factor remains the biggest concern for central government employees and pensioners. Final recommendations are expected by mid-2027, and fiscal sustainability will influence revisions to salaries and pensions.
Sebi unveils simpler rules for mutual fund transmission claims
Mutual fund unit transmission is now simpler for nominees and joint holders. Asset management companies will rely on the latest address with valid documents. A harmonised framework addresses name and signature mismatches effectively. Surviving joint holders or nominees submit a death certificate and bank details. The process is completed within five to fifteen working days.
Income-tax return: Here's a checklist of required documents for smooth ITR filing process
Filing your income tax returns (ITR) can be a tough task for first-time taxpayers and salaried individuals alike. Here's a checklist of essential documents you'll need to make the process smooth and hassle-free.
Sebi eases rules for mutual fund, SIF distributors with single certification exam
Sebi has launched a unified certification for mutual fund and Specialised Investment Fund distributors, known as the NISM Series V-D certification. This new credential streamlines the eligibility criteria for selling these products.
The Employees' Provident Fund offers a secure retirement savings option for Indian salaried individuals offering an 8.25% interest rate for FY26. Here's how EPF subscribers can retrieve their UAN via the EPFO portal or Umang app.
The 8th Pay Commission is in discussion to recommend pay hikes and salary structure for central government employees and pensioners. Chaired by Ranjana Prakash Desai, it aims to benefit around 1 crore individuals and will submit recommendations by November 2025.
DA, DR hike: Dearness allowance for pensioners Dearness Relief calculation, eligibility explained
Dearness Allowance: A fixed percentage of pensioners' monthly pension payments is aimed at mitigating inflation. However, unlike DA in salaries for central government employees, the component is known as Dearness Relief or DR.
Newly married couples: 8 health insurance mistakes to avoid
Newly married couples should review health insurance plans, assess coverage needs and plan for maternity benefits. This guide highlights common mistakes, including relying only on employer cover and overlooking parents healthcare needs, to help couples make smarter financial decisions.
Retired PSU employee faces 2 lakh tax demand over Form 16 omission; ITAT Pune grants relief
A retired PSU employee successfully challenged a 2 lakh tax demand after ITAT Pune ruled that a leave encashment exemption cannot be denied because it was omitted from Form 16. The Tribunal held that statutory tax benefits are determined by law and not by how the employer reports them.
ITR Filing 2026: CBDT upgrades income tax portal before July 31 deadline, Key changes explained
The Finance Ministry has told Parliament that the Income Tax Department has strengthened the e-filing portal to handle peak traffic during the return filing season, with infrastructure capable of processing up to 1 crore ITRs a day.
Can cooperative insurance become Indias next financial inclusion story?
The proposed national cooperative life insurer is about more than adding another playerit could shift India's insurance journey from expanding access to building financial resilience.
Can the government impose taxes without a law? What Article 265 says
Article 265 of the Indian Constitution states that no tax can be levied or collected except by the authority of law. In simple terms, every tax must be backed by a valid law passed by Parliament or a state legislature, preventing arbitrary taxation by the government.
Cable and DTH charges to rise 4-6 times? PIB Fact Check reveals the truth
PIB Fact Check has dismissed viral claims that the Centre's draft Telecom Rules, 2026 will shut down TVs or raise cable and DTH charges by four to six times. It clarified that the draft rules contain no fee hike provision and are currently open for public consultation.
GIFT City investments and Schedule FA reporting: why taxpayers are seeking greater clarity
As GIFT City opens global investment opportunities for Indian residents, a key tax question remains unresolved: Do investments in IFSC funds qualify as foreign assets for Schedule FA reporting?
EPS-95 pension hike: Will Centre raise minimum pension from 1,000 to 7,500?
EPS-95 pensioners demand for a hike in the minimum pension from 1,000 to 7,500 per month remains unresolved. The Minister of State for Labour and Employment acknowledged that, though several stakeholders have sought a pension hike, no decision has been made on the matter yet.
New labour code: Salary must be paid by 7th of next month. What employees should know
The Code on Wages, 2019 prescribes when employers must pay salaries and settle final dues after an employee leaves a job. Here's what the law says about salary payment timelines, delayed wages and employee rights.
LTCG and STCG: Key tax rules for equity shares and mutual fund investors in FY 2025-26
The government has ruled out changes to equity LTCG tax for now. Investors should understand STCG and LTCG rules, holding periods, tax rates, SIP taxation and redemption strategies to manage equity investments better.
Old Pension Scheme: Centre allows select government employees to opt for OPS. Who is eligible?
The Centre has clarified that eligible compassionate ground appointees who applied before January 1, 2004, but joined service later, can opt for the Old Pension Scheme. The benefit is limited to a specific category of employees and does not extend to all NPS subscribers.
Fast approval, less paperwork: How AI is changing the loan game
Account Aggregators are giving lenders a richer picture of borrowersand potentially faster, cheaper loans. But the data trail can become harder to see once it reaches the lender.
FPIs not exempt: Centre clarifies 12.5% LTCG tax on equity is same as for domestic investors
Both FPIs and domestic investors continue to pay 12.5% LTCG tax on Indian equities. The exemption announced through the Income-tax Ordinance, 2026, applies only to FPIs investing in Government Securities (G-Secs).
NHAI has introduced Digital Local Pass and the MargMitra Help Centre on the RajmargYatra app. Commuters can now buy Local Passes online without visiting toll plazas, while MargMitra offers FASTag support, complaint tracking and other highway services in 22 Indian languages.
Reported VRS payment as salary in ITR? Pune ITAT grants tax relief in 65.21 lakh case
Pune ITAT has ruled that a 65.21 lakh payment received under a voluntary retirement scheme was a non-taxable capital receipt and not taxable salary or income from other sources. The tribunal also held that an incorrect claim in the ITR cannot override the true legal nature of the receipt.
Received an income tax notice? Verify authenticity before responding to protect against scams
Taxpayers should always verify an Income Tax notice before responding. Using the PAN or Document Identification Number (DIN) on the official e-filing portal helps identify genuine notices, avoid scams, protect personal information and ensure timely compliance.
16,649 crore unclaimed in LIC and inactive EPF accounts: What Centre's latest update means for you
Over 16,649 crore lying in old LIC policies or inactive EPF accounts, says the Centre. Recovering dues requires checking past insurance, provident fund records, updating KYC and contact details, and responding to official reminders.
The 8th Pay Commission is reviewing NPS and UPS benefits under its mandate, while employee unions continue to demand the restoration of the Old Pension Scheme. Here is how the Gazette notification differs from employees' key pension demands.
Trying to time the market? Missing the best trading days can dent returns
Staying invested throughout market cycles yields the highest returns for investors. Missing just fifty strong trading days drastically reduces Nifty 50 returns to 0.89 percent. Missing thirty best trading days improved returns to 4.59 percent for the Nifty 50. Missing ten best trading days boosted Nifty 50 returns to 9.67 percent. Market timing requires two correct decisions, which is difficult for investors.
Did F&O or intraday trading last year? Your ITR filing due date isn't July 31
In India, intraday and F&O trading profits are taxed differently. Intraday trading is speculative business income, while F&O is non-speculative. Taxpayers must file ITR-3 or ITR-4 depending on specific conditions. Here are the deadlines.
Claiming a deceased family member's mutual funds made less cumbersome: What SEBI has changed
SEBI has asked AMFI to simplify the industry's transmission norms, making it less cumbersome for nominees and legal heirs to claim rights on mutual funds after the investor's death. Here's what changed under the revised framework.
Aadhaar app crosses 4 crore downloads: Full list of services available on the new app
The new Aadhaar app achieved 40 million downloads so far. The redesigned app replaces mAadhaar aap and offers a wide range of Aadhaar-related services. Full list here.
Balanced advantage funds can have vastly different portfolio structures despite belonging to the same SEBI category. Variations in equity, debt and cash can lead to distinct risk profiles and return outcomes, making portfolio composition an important factor to evaluate.
EPS rules explained: Eligibility, withdrawal and pension
Confused about the Employees' Pension Scheme and its rules? This guide breaks down complex aspects, including contribution methods, eligibility, and pension calculations. With increasing cases of claim rejections, being informed is key.
Switching jobs during a financial year can leave salaried employees with an unexpected tax liability even if both employers deducted TDS correctly. The gap arises because TDS is calculated employer-wise, while final tax is based on total annual income. Form 12B can help avoid this mismatch.
How to lock and unlock your fingerprints and iris using new Aadhaar App
The Aadhaar biometric lock/unlock feature has gained significant adoption, with residents using it more than 1.91 crore times, according to MeitY. This security feature allows Aadhaar holders to prevent unauthorized biometric authentication using their fingerprints, iris and face data.
The NRI guilt trap: why high salaries abroad don't always create wealth
Many NRIs earn in dollars but struggle to build wealth as family obligations, emotional guilt and social expectations drain savings and delay financial independence.
The coaching race is costing parents lakhs. Here's how to plan
Parents are spending 2-4 lakh on coaching before college admissions. With education inflation at 10-12%, experts warn against dipping into retirement savings or taking on debt.
Largecap mutual funds' cash holdings fell to a one-year low of 2.2% in June, reflecting higher equity deployment and fund managers' confidence in select opportunities. Experts caution this is not a buy signal, advising investors to continue SIPs and focus on long-term goals, as lower cash may increase volatility during market corrections.
PIB Fact Check has again debunked a viral WhatsApp message, first flagged in January, claiming the Government is accepting applications for free laptops under the National Student Laptop Scheme 2026. It reiterated that no such scheme exists.
Income-tax returns: Today, we take a look at what taxpayers should do if they receive a notice from the I-T department. Individuals can use this stepwise guide to ensure they are following the proper process.
Forming a Hindu Undivided Family (HUF) can help taxpayers manage taxes efficiently as it is a separate taxable entity under income tax law, however a family must understand how it works first. Here's what experts say.
Gifting to your NRI child? Know the tax treatment of NRE deposits
Gifts from parents to NRI children are tax-free, while interest earned on NRE accounts and deposits is fully exempt from income tax for FEMA non-residents, unlike taxable NRO interest.
EPFO: Here's how to update your KYC information online using the official portal Stepwise guide
EPFO: Aadhaar linking and KYC updating is mandatory to avail several EPF services. Today, we check how EPF subscribers can update their KYC information online for their account using the retirement body's official portal.
Cody Berman, author of 'Retire by 30', used house hacking to achieve financial independence by investing in real estate. By renting part of his home, he reduced his housing costs and generated passive income.
ITR filing 2026: Secondary address field is now mandatory here's how it can help taxpayers
The income tax department has mandated a secondary address field in all ITR forms for AY 2026-27, requiring additional communication details from taxpayers. Here's how it can help taxpayers.
The 8th pay commission: Meetings with employee groups is significant as their suggestions are expected to shape the panel's deliberations on remuneration, allowances, pay and pension structures for the central government workforce.
Dearness Allowance is the component of the basic salary periodically adjusted to counter increased cost-of-living due to inflation. Here's what we know about state governments' discussions on DA hikes. a
Don't miss this tax benefit: How car buyers can claim a minimum 10,000 refund
Car buyers may be eligible for an income tax refund due to 1% TCS collected on vehicle purchases exceeding 10 lakh. This amount can be lower you tax liability or get you a refund if their tax payable is less than the TCS paid. Details here.
TDS Return Filing 2026: Q1 Due on July 31, Check New Forms and Section Codes
Businesses and tax deductors must file Q1 TDS and TCS returns by July 31, 2026 using the new return forms and revised section codes under the Income-tax Act, 2025. Here's what has changed, the new forms to use, and the compliance steps to avoid filing errors.
The F&O trap inside the barracks: How army officers are losing crores chasing the next trade
Stable salaries, easy access to credit and early trading wins are drawing serving and retired defence personnel into a cycle of leveraged betsand mounting losses
Can builder's loose papers lead to an income tax notice? ITAT explains the law
A Mumbai ITAT ruling has held that the Income Tax Department cannot tax a property buyer merely because their name appears in a builder's seized cash records. The Revenue must prove an undisclosed cash payment with independent corroborative evidence before invoking Section 69A.
