The Lok Sabha passed the revised Income Tax (No. 2) Bill, 2025 on Monday, August 11, a move towards replacing the six-decade-old Income Tax Act of 1961. Introduced by Finance Minister Nirmala Sitharaman in the Parliament, the bill aims to streamline and modernise the country’s tax framework. It will now move to the Rajya Sabha…
The nation’s Income Tax Department has extended the ITR-filing deadline for the current assessment year to 15th September, 2025. This extension provides taxpayers additional breathing room beyond the original 31st July cutoff date. Furthermore, by early August, some 2.51 crore returns have already been filed, with 2.43 crore verified and 1.13 crore processed. The objective…
After ICICI Bank increased the minimum average monthly balance (AMB) requirements for savings accounts steeply from August 1, there is a renewed focus on the fee banks charge for not maintaining the required amount in these accounts. The move comes close on the heels of leading public sector banks, including State Bank of India (SBI),…
The Parliament passed the revised Income Tax Bill 2025, fixing drafting oversights in the earlier February version that had sparked confusion over refunds, tax deducted at source (TDS) rules, and property income deductions. Experts say the changes restore clarity, align the law with long-standing provisions, and will help prevent needless litigation. “When the Bill was…
When I was a resident of India, I made a seed investment in a friend’s private limited company in the country in late 2019. Just before the covid-19 pandemic, I shifted to Singapore for work and have been residing there since. In early 2022, I purchased additional shares from a non-resident investor and paid her…
There’s been an increase in in-vitro fertilization (IVF) treatment in India due to factors such as rising infertility rates, growing disposable incomes, wider awareness about IVF and progress in IVF technology. Assisted reproductive technology refers to the medical procedures used to treat infertility. IVF is one of the most common forms of fertility treatment. The…
Unfortunately, this delay often affects women more severely than men. A major disruptor? Marriage, a life transition that can dramatically alter a woman’s financial trajectory. Here are a few real-life cases (names changed) that illustrate the lasting consequences: The illusion of financial security Kashvi quit her job soon after marriage, trusting in the apparent affluence…
How many of us regularly check the health app on our phones, use a smart ring, or wear a multi-utility wristwatch that keeps us updated on our health parameters? I guess most of us do – from Gen Z to older generations. Now think: how many of us closely monitor the stock market, whether it’s…
Filing an Income Tax Return (ITR) is an essential yearly financial task for every eligible individual. Whether you are a salaried employee, self-employed, freelancer, or business owner, you may often face several doubts about the process, from the ways of filing the ITR form to understanding penalties, missing due dates, and more. To make things…
Do you often use a credit card? When you bought something last time, you probably swiped a card or tapped your phone without a faint thought. That quick, simple action creates a ripple effect of data — a digital trail that’s building a surprisingly detailed profile of your life. It’s not just about what you…
