Introduction: The National Pension Scheme (NPS), introduced by the Government of India in January 2004, is a voluntary contribution-based retirement benefits scheme. It extends to all Indian citizens, encompassing those in the unorganized sector, with the objective of ensuring a dependable pension income for retirees. Participation in the scheme mandates individuals to open an NPS […]
Introduction: As per the revised norms of the RBI, banks are now able to charge comparatively high interest rates on savings accounts. Currently, banks are expected to charge interest based on the daily balance of the account rather than the minimum level that needs to be kept. Those who own savings accounts can now benefit […]
Introduction: The Income Tax Act categorizes an assessee’s income into five heads, including salaries, house property, capital gains, business or profession profits, and income from other sources; this article explores the specifics of income from other sources, addressing taxability, exemptions, and deductions. Any revenue, earnings, or gains that are included in an assessee’s total income […]