Currently, NPS subscribers having a corpus of over Rs 2 lakh at the time of retirement or attaining the age of 60 years need to buy an annuity, offered by insurance companies, on a mandatory basis. They can take out the remaining 60 per cent as a lump sum.
"I saw people my own age dying, which prompted me to get life insurance immediately," says Coutinho, a 24-year-old senior executive at a public relations agency in Mumbai.
The Nifty PSU Bank Bank price to book value is 0.92. Analysts believe there are concerns on inefficiency of these banks and that private banks will continue to gain market share from them.
The labour ministry has deferred by three months the mandatory Aadhar verification for filing of monthly provident fund returns by employers. The move is aimed at ensuring statutory deposits are not held back because of this and comes as a breather to both employers and employees.
Differentiated lending rates and new product development is likely to drive India’s microfinance market going forward with the Reserve Bank of India planning to create an open architecture for all lenders and deregulating the loan pricing.
The meeting will take place on June 22, from 11 am to 1 pm, and will include stakeholders including ICAI, auditors, consultants and taxpayers. The new portal has been fraught with several technical glitches/issues leading to taxpayer inconvenience.
Despite the drop in inflow, the assets under management (AUM) of gold ETFs rose by over 6 per cent to Rs 16,625 crore at May-end, against Rs 15,629 crore at April-end, data with Amfi showed.
The 11 per cent growth in financial wealth was at par with the compounded annual growth rate for the five years to 2020, the report by BCG said.
While Form 15CA is a declaration from the taxpayer that tax has been deducted at source against payment to the overseas recipient, Form 15CB is a certification from a chartered accountant that the provisions of the relevant tax treaty and I-T Act have been complied with.
As markets touched all-time highs amid high liquidity and positive flows from retail investors for the third consecutive month, fund managers adopted a stock- specific approach.
Reacting to the adjudication order by Sebi penalising the top management in the Franklin Templeton case, the fund house has said that the 'disagree' with the findings in the SEBI order
In another blow to Franklin Templeton AMC, Sebi has decided to fine the CEO, CIO, debt fund managers and other top officials in the case of shutting down of six debt mutual fund schemes in 2020.
The Reserve Bank of India on Monday said the scope of the Bharat Bill Payment System (BBPS) will be expanded by August 31 this year by adding 'mobile prepaid recharges' as a biller category, a move likely to help millions of prepaid phone subscribers in the country.