The Economic Times

Existing tax benefits and approvals will continue under the Income Tax Act, 2025. Pending applications filed before March 31, 2026, will be processed under the new law. Lower or nil TDS certificates issued previously remain protected and valid. New applications filed after April 1, 2026, will follow the 2025 Act. Taxpayers need not take additional action for this transition.

One co-owner can evict tenants without others' formal consent. The Bombay High Court and Supreme Court have upheld this right. This principle allows a co-owner to act as an agent for others. However, objections from other co-owners can weaken the eviction case. Documenting consent and avoiding ownership changes during litigation is crucial.

Latest EPF withdrawal rules: EPFO subscribers can withdraw funds for specific needs like illness and education. Withdrawals for marriage and housing are permitted up to five times. Special circumstances allow advances twice annually under new guidelines.

ETMutualFunds has shortlisted the top largecap mutual funds based on mean rolling returns, consistency over the last five years, downside risk, outperformance and asset size. The list includes Axis Large Cap Fund, Canara Robeco Large Cap Fund, Mirae Asset Large Cap Fund, Baroda BNP Paribas Large Cap Fund and Edelweiss Large Cap Fund.

Five midcap mutual funds delivered over 20% annualised returns in the past three years, led by HSBC Midcap Fund at 26.3%, highlighting strong wealth creation despite market volatility.

Elder sister gave the house to a brother via registered Will but other other brothers occupied the house with an alleged unregistered Will; Andhra High Court upholds registered Will and rejects other brother's claim on unregistered Will's basis. Know what did Andhra Pradesh High Court say about the Will.

Gold prices saw a decline across major Indian jewellery brands today. Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas reported lower rates. These price drops were observed in cities like Delhi, Mumbai, and Chennai.

Twelve equity mutual funds achieved over Rs 1,000 NAV by July 2026. These funds delivered up to 24% CAGR since their respective inception dates. Most schemes have been available for over twenty-five years in the market. Nippon India Growth Mid Cap Fund showed the highest NAV at Rs 4,499.70. These funds represent various categories including mid cap and flexi cap.

The Employees' Pension Scheme 2026 has been introduced, replacing older pension plans. This new scheme maintains the existing pension calculation formula for subscribers. Pensionable salary is determined by the average of the last sixty months' earnings. Employees receive a minimum monthly pension of one thousand rupees. Service years are enhanced by two years for those with twenty or more years of contribution.

HDFC Bank has adjusted its MCLR rates, with changes effective July seventh, 2026. The overnight MCLR decreased by five basis points, while longer tenors saw increases. One-year and three-year MCLRs rose by five basis points each.

The Employees Provident Fund Organisation has finished a major system upgrade and database consolidation. Some EPFO services are temporarily unavailable on the UMANG app due to this migration.

International mutual funds have delivered strong one-year returns, significantly outperforming domestic equity categories. This outperformance is largely driven by global technology stocks and currency depreciation against the US dollar. Experts advise against chasing recent gains, emphasizing long-term asset allocation for international diversification. While international funds show strong recent performance, domestic equity funds remain well-placed for long-term wealth creation.

Small cap funds saw significant inflows in May 2026 after a poor 2025. Despite market volatility, advisors suggest staggered investments for long-term wealth creation. These funds invest in companies ranked below 250 by market capitalization. Small cap stocks offer high return potential but also carry considerable risk. Investors should select skilled fund managers and monitor performance during downturns.

Central government employees' union requested simpler recovery waivers for excess payments. The DoE secretary assured examination of these demands with DoPT. Audits often identify past overpayments, leading to salary deductions. NC-JCM argues these are administrative errors, not employee fault. They propose delegating waiver powers to department heads for faster resolution.

India's Employees' Provident Fund (EPF) is undergoing a significant modernization with the EPF Scheme, 2026. Existing subscribers will see continuity in their balances and membership, while new entrants will find a clearer framework for contributions and benefits. A key change involves increased flexibility for voluntary contributions, allowing employees to build larger retirement funds.

Rich investors are exploring niche mutual funds and specialized investment funds. These products offer higher returns and better tax efficiency for portfolios. Funds bundle debt, arbitrage, REITs, and InvITs to boost investor returns. This strategy provides a tax advantage over fixed deposits and debt funds. Investors must understand liquidity differences between fund types.

New rules under the Income Tax Act 2025 are set to curb tax evasion by limiting cash transactions. Individuals cannot receive over Rs 2 lakh in cash from one person daily. Loans, deposits, and repayments exceeding Rs 20,000 must be cashless.

Income Tax Return (ITR) filing for the assessment year 2026-2027 sees a significant update with a new 'Other Income' column under the Exempt Income Schedule. This allows taxpayers to voluntarily disclose non-taxable receipts that don't fit specific categories, like rural agricultural land sales or gifts from relatives. Experts advise this proactive reporting to prevent potential tax notices and mismatches with departmental records, especially for substantial transactions.

Senior citizens can now secure a steady income with the Senior Citizens' Savings Scheme (SCSS), which offers an attractive 8.2% interest rate. To generate approximately Rs 50,000 quarterly, an investment of around Rs 24.40 lakh is required.

Learn how to calculate the monthly investment needed to build a Rs 1 crore corpus using Excels PMT function or a manual formula. The guide explains assumptions, calculation steps, and how changing returns, goals or timelines affects required investments for better financial planning.

EPFO: The EPF 2026 Scheme largely retains existing EPF contribution rules, with both employees and employers continuing to contribute 12% of wages, subject to the statutory wage ceiling. It also preserves the VPF framework, allowing employees to make higher voluntary contributions without requiring employers to match them, while offering flexibility to discontinue them later.

A total of 12 equity mutual funds delivered an XIRR of over 15% on SIP investments over the last three years, according to an ETMutualFunds analysis of 255 schemes. Midcap and small-cap funds dominated the list, while just two funds posted negative SIP returns during the period.

The Odisha High Court has ordered the state government to release pending salary for an employee denied wages for over three years due to a stalled disciplinary case. The court emphasized the right to livelihood under Article 21, stating that withholding salary infringes upon basic human dignity. This landmark ruling ensures the employee receives dues, while the disciplinary proceedings continue separately.

The 8th Pay Commission is actively consulting stakeholders across India, recently holding discussions in Bhubaneswar and planning for Kolkata. Notably, the commission intends to conduct firsthand inspections of Indian Railways' operations, including track maintenance, signal work, and train control, to better understand employee working conditions and risks before salary revisions. Railway technical supervisors are advocating for broader operational inspections to ensure a comprehensive review.

Gold prices saw a slight dip today, July 6, 2026, Check 22k jewellery rates at major retailers like Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas. Consumers are advised to check the latest rates before purchasing.

The Employees' Pension Scheme (EPS), 2026 has replaced EPS-1995 and the Employees' Family Pension Scheme, 1971 under the Social Security Code, 2020. Despite the new scheme, the minimum monthly EPS pension remains unchanged at Rs 1,000, the same as since September 1, 2014.

Nearing retirement and confused between bank FDs and SWPs for monthly income? An expert suggests a balanced approach. Instead of picking just one, combine safe instruments like FDs for immediate expenses with hybrid or equity funds for growth.

A Chennai resident successfully reclaimed his Section 54 tax exemption after a three-year construction delay on his new home, initially denied by the tax department. The Income Tax Appellate Tribunal (ITAT) ruled in his favour, citing the COVID-19 pandemic as an extraordinary circumstance beyond his control. The tribunal emphasized a liberal interpretation of the beneficial provision, allowing the exemption despite minor delays in finalising construction.

Sovereign Gold Bond (SGB) 2020-21 Series-IX investors can now redeem their bonds prematurely from July 4, 2026. The Reserve Bank of India has fixed the premature redemption price at Rs 14,366 per unit, reflecting a significant 190.22% return on the initial investment.

AlphaGrep Mutual Fund has launched its first fund, the AlphaGrep Multi Asset Allocation Fund, employing a unique algorithm-driven approach. This open-ended scheme dynamically allocates capital across equities, fixed income, and commodities, aiming for better risk-adjusted returns with minimal human bias. Experts weigh in on the merits of algorithmic versus traditional multi-asset strategies, highlighting the importance of a long track record and individual investor control over asset allocation.

Several organisations representing central government employees and pensioners have urged the 8th Pay Commission to revise HRA, transport allowance, family unit norms and dearness allowance.

Mid-cap mutual funds have seen a strong rally, leading to investor anxiety about current valuations. While these companies offer potential for future growth, they also carry significant risks, including corporate governance issues. Investors with high risk tolerance and a long-term horizon (7-10 years) are advised to proceed with caution, focusing on regular investments rather than quick gains. Several mid-cap funds are highlighted for their recent performance.

Indian banks are significantly reducing their reliance on short-term debt sales, known as certificates of deposit (CDs). This shift is driven by the Reserve Bank of India's initiative to attract foreign-currency deposits, offering a cheaper and more stable funding alternative. Lenders anticipate this trend to continue, impacting CD rates and strengthening their balance sheets with more durable capital.

Bank holiday today: Banks will remain closed in select states on July 6, due to regional observances, while they will function as usual in the rest of the country. Here's a look at where banks are closed today and the reason behind the holidays.

Many Indians stretch finances for dream homes, but hefty home loans lead to years of uncomfortable choices. Borrowers face lifestyle compression, career stagnation, and deferred savings, impacting family life and personal well-being. Experts urge homebuyers to prioritize true affordability over aspirations, stressing that a loan should enhance life, not dictate it, by considering future uncertainties and maintaining financial flexibility.

Miscounted days in India, missed NRO interest and TDS mismatches can invite notices from a data-savvy tax department.

With tech employees holding up to 80% of their net worth in a single stock, advisers say not selling is a real danger.

Foreign universities are now opening campuses in India, offering Indian students a chance to earn international degrees without leaving the country. This influx is driven by India's large student market and policy changes. While offering a more affordable global education, these campuses present fewer course options and facilities compared to their parent institutions abroad.

In the United States, those graduating in the 21st century especially have been seeking to return to the homes of their boomer parents. In India, in contrast, living with parents has remained a default option for young adults until they get married or move to another city for a joban arrangement that isendorsed by tradition.

An investment must first stand up as an investment, and be a tax-saver only by accident. However, this problem has now solved itself. The new tax regime, now the default and chosen by close to three in four taxpayers, has done away with such deductions. Where there is no Section 80C to chase, there is no reason to go shopping for the bad product in March.

Welcome to TrendMap, your guide to the performance of different investment segments. In this edition, we present a 10-year performance tracker of various factor-based investment strategies. The annual returns are ranked for 6 key NSE Factor indices, with a broad-based index, Nifty 500, thrown in for comparison. This map shows that no single-factor strategy consistently outperforms, making a strong case for diversification. By Sameer Bhardwaj.

If you are confused by personal finance terms, jargon and calculations, heres a series to simplify and deconstruct these for you. In the 110th part of this series, Riju Mehta lists the legal certificates that are crucial for home ownership.

Strong revenue growth, rising data demand and a landmark Jio IPO signal a favourable sector outlook.