Author: Invest Policy

The recent Supreme Court ruling has put an end to income tax exemptions on the salaries of priests and nuns, stirring conversations around religious income and tax policy. For years, priests and nuns working in churches, particularly in Catholic institutions, enjoyed a unique tax-free status. However, with the rejection of 93 petitions from various religious organizations, the Supreme Court has set a new precedent, requiring all salaried individuals, regardless of religious affiliation, to pay taxes on their income. Background: Why Were Priests and Nuns Exempt from Tax? The roots of this exemption date back to the 1940s during British rule…

The Central Government has provided much-needed clarity on General Provident Fund (GPF) disbursements for retired employees. To address frequent questions on delayed GPF interest payments, the Department of Pension and Pensioners’ Welfare (DoPPW) released new guidelines on October 25, 2024. These updated instructions outline the steps to ensure timely GPF disbursement, clarify interest policies on delayed payments, and specify responsibilities for officers handling these transactions. Here’s a breakdown of what the new guidelines entail and how they impact retired employees expecting their GPF benefits. Key Points of GPF Disbursement for Retired Employees 1. Ensuring Timely GPF Payments 2. Unconditional Disbursement…

Public Provident Fund (PPF) accounts have long been a popular savings tool in India, offering good returns and tax benefits. However, starting from October 1, 2024, significant changes to the rules have been introduced by the government. These new regulations will impact the interest rates on minors’ accounts, non-resident Indian (NRI) accounts, and even those who hold more than one PPF account. Here’s a breakdown of the most crucial updates and how they might affect your savings. No Full Interest for Minors’ PPF Accounts Until now, parents or guardians who opened a PPF account in the name of their minor…

Retirement is a phase of life that brings the need for a stable and sufficient income, as expenses do not stop even after regular salary ceases. For those planning retirement with a salary of Rs 40,000 per month, using a combination of Employees’ Provident Fund (EPF), National Pension System (NPS), and Senior Citizens’ Savings Scheme (SCSS) can help build a retirement corpus of Rs 3 crore or more. With a smart strategy, these schemes together can ensure financial security and a regular income after retirement. Let’s break down how these schemes work and how you can achieve this goal. Understanding…

If you’re planning to buy a new car, especially during the festive season, you can save money on the final price in several ways. Most buyers don’t realize that the on-road price, which includes taxes, insurance, and other extras, can be reduced significantly if you know what to look for. Here are some easy-to-follow tips that will help you lower the on-road cost of your vehicle and get a better deal. Don’t Feel Obliged to Buy Insurance from the Showroom One of the easiest ways to cut down the on-road price of a car is by opting out of buying…

The recent economic decisions made by China, particularly a cut in interest rates and a substantial economic package, have sparked optimism in India’s metal and chemical sectors. China, being the largest consumer of steel globally, directly impacts the Indian metal market. With the real estate sector slowdown in China, these measures were aimed at boosting their economy, but Indian companies like Tata Steel, Vedanta, and Hindalco are already seeing the benefits. Metal Stocks See Strong Buying Since China is a major importer of iron and steel, India’s export market is deeply linked to the Chinese economy. Companies like NALCO, NMDC,…

The Indian Travel and Tourism sector, which plays a significant role in the country’s economy, is facing a slow recovery, even after the pandemic. Once a booming industry, employing nearly 8 crore people directly and indirectly in 2019-20, the sector is yet to see a return of foreign tourists in large numbers. Industry experts and tourism bodies have urged the government to extend financial aid to revive the sector. Fewer Foreign Tourists Are Visiting India Post-Pandemic In the years just before the Covid-19 pandemic, India was a popular destination for foreign tourists. Official government figures show that 1.05 crore foreign…

Recent developments in the global economy have sparked renewed interest in IT company stocks. Following the US Federal Reserve’s decision to reduce the interest rate by 50 basis points, investors are hoping that IT companies may benefit from increased spending on technology and new deals. However, according to brokerage firm Jefferies, this optimism should be tempered with caution. IT Management Cautions Against High Hopes While the reduction in interest rates may lower borrowing costs and improve cash flow for companies, the leadership of major Indian IT firms like HCL Tech, Tech Mahindra, and LTIMindtree remains cautious. Jefferies’ latest report indicates…

There is big anticipation in the IPO market as three companies—Western Carriers, Arkade Developers, and Northern Arc Capital—are set to list their shares on September 24, 2024. All three IPOs have garnered substantial interest from investors, with strong oversubscriptions and high activity in the grey market. Let’s take a look at the key details of each IPO, including their subscription status, grey market premium (GMP), and expected listing gains. Western Carriers IPO: Steady Demand from Investors Subscription Status Western Carriers’ IPO, with a size of Rs 492.88 crore, saw solid investor demand. By the close on September 19, the issue…

India’s market regulator, SEBI, has given the green light to Mobikwik and Waaree Energies to raise funds through Initial Public Offerings (IPOs). Both companies received the approval after SEBI issued observation letters on September 19, allowing them to launch their IPOs within the next year. Mobikwik, a leading fintech company, is set to raise ₹700 crore through its IPO, while Waaree Energies, a solar energy firm, will raise ₹3000 crore. Let’s break down what each company plans to do with the funds they raise and how it will impact their growth and operations. Mobikwik Plans Big: Where Will the ₹700…