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Business

The tax deduction bar has been raised; good news for those senior citizens who want to invest in a savings scheme

Tax Deduction: Finance Minister Nirmala Sitharaman unveiled significant tax relief initiatives for senior citizens in the Union Budget 2025, which include an increased tax deduction limit on interest income and more flexible withdrawal regulations for certain savings schemes.

An increase in the tax deduction

While presenting the budget in Parliament, Sitharaman announced an increase in the tax deduction limit on interest income for senior citizens from Rs 50,000 to Rs 1 lakh. Additionally, the threshold for Tax Deducted at Source (TDS) on rental income has been raised from Rs 2.40 lakh to Rs 6 lakh annually, thereby facilitating compliance for numerous elderly taxpayers. The proposal also aims to streamline TDS by reducing the number of applicable rates and enhancing the threshold limit for improved clarity and consistency.

For the fiscal year 2024-25, the basic exemption limit for senior citizens remains at Rs 3 lakh per annum under both the old and new tax frameworks. Very senior citizens, defined as those aged 80 and above, benefit from a deduction of Rs 5 lakh within a financial year, applicable solely under the old tax regime. Given the rising inflation, there were heightened expectations that the government would revise these limits. In the previous Union Budget 2024, Finance Minister Nirmala Sitharaman had already simplified the tax filing process for senior citizens aged 75 and older, exempting those who meet specific criteria—such as receiving income exclusively from pensions and interest on savings—from the requirement to file income tax returns.

 

Sitharaman stated, “Many senior and very senior citizens possess outdated National Savings Scheme accounts. As interest is no longer accrued on these accounts, I propose to exempt withdrawals made from the NSS by individuals on or after August 29, 2024.” Furthermore, the Finance Minister announced that NPS Vatsalya accounts will receive the same tax advantages as standard National Pension System (NPS) accounts, subject to the overall limit. Prior to Budget 2025, senior citizens anticipated additional tax exemptions and adjustments to interest rates on savings schemes. My tax proposals are designed to foster a business-friendly environment, promote voluntary compliance, and alleviate compliance burdens.”

Business

Gold Price Change – Check Here 24K, 22K, 18K & 14K Gold Updated Price

Gold Price Today: For some time now, the prices of gold and silver have fluctuated continuously. The cost of gold is increasing rapidly, and changes are being seen in the rate of gold every day. There was a jump in the prices of gold and silver today, i.e., on February 6. On Thursday, the price of gold reached Rs 84672 per 10 grams. At the same time, the rate of silver became Rs 95292 per kg.

In the wedding season, the rate of gold is seen increasing very rapidly. If you are considering buying gold and silver, you should know the rate of gold before that. So let us know the latest rate of 23-carat, 22-carat, 18-carat gold. So let us know what the rate of gold is in your city.

What is the rate of gold today?

According to the official website ibjarates.com, 995 purity gold is Rs 84333 per 10 grams today. At the same time, the cost of 916 (22 carat) purity gold is Rs 77560 per 10 grams. The cost of 750 (18 carat) purity gold has reached Rs 63504 per 10 grams. At the same time, the cost of 585 (14 carat) purity gold is Rs 49533 per 10 grams. Meanwhile, at the same time, the cost of 999 purity silver is Rs 95292.

Check gold rates with missed calls.
You can quickly get the price of gold and silver from home. by making a missed call to 8955664433. After this, you will receive information about the materials rapidly. Making charges and taxes are charged separately.

The Indian Bullion Jewelers Association releases the rates of gold and silver every morning and evening. However, GST is not included in the prices, so the price of gold jewellery increases after it is made.

Gold price in Delhi

24-carat gold in Delhi is Rs 86400 per 10 grams, while the price of 22-carat gold is Rs 79210 per 10 grams.

Gold price in Kolkata and Mumbai

The price of 22-carat gold in Mumbai and Kolkata is Rs 79060 per 10 grams, while the cost of 24-carat gold is Rs 86250 per 10 grams.

Gold price in Chennai

The price of 22-carat gold in Chennai is Rs 79060, and 24-carat gold is Rs 86250 per 10 grams.

 Bhopal and Ahmedabad gold price

The price of 22-carat gold in Ahmedabad and Bhopal is Rs 79110  per 10 grams,  and the cost of 24-carat gold is Rs 86300 per 10 grams.

Hyderabad gold price

The price of 222-carat gold in Hyderabad is Rs 79060 per 10 grams, while 224-carat gold is Rs 86250 per 10 grams.

Lucknow gold Price

24-carat gold in Lucknow is Rs 86400 per 10 grams, and the price of 22-carat gold is Rs 79210 per 10 grams.

Health

Benefits of drinking coconut water mixed with turmeric

Benefits of drinking coconut water mixed with turmeric: Hello friends, how are you all, coconut water which is very beneficial for our health and turmeric which has medicinal properties gives a lot of relief to our body, so today we will tell you through this article what are the benefits of drinking coconut water mixed with turmeric, watch this video till the end for complete information.

Click here to watch full video in Hindi 

 

Sports

IND vs ENG: 2 Indian bowlers who can bag 5 wickets in Nagpur

IND vs ENG: Following a lackluster performance in the Test format, Team India, the reigning ICC T20 World Cup 2024 champion, is currently riding high in the limited overs format. They secured a decisive 4-1 victory in the 5-match T20 series against England. With the T20 series concluded, the two teams are now preparing for a 3-match ODI series.

Several young Indian talents showcased their skills during the T20 matches against England, setting the stage for the upcoming ODIs. The BCCI has yet to reveal the starting lineup for the first match, scheduled to take place in Nagpur on February 6. It is anticipated that Team India will maintain a similar first XI following their recent T20 success. As favorites to win the ODI series, India will feature a squad with several capable bowlers, some of whom have the potential to claim five wickets in a match. Let’s explore which bowlers might achieve this feat:

Varun Chakravarthy

Varun Chakravarthy, who claimed 5 wickets in the T20 series against England, is a strong candidate to replicate that success in the 50-over format. He consistently troubled the English batsmen, finishing the T20 series with 14 wickets, including a five-wicket haul in Rajkot. Given his current form, a similar performance in Nagpur is highly anticipated.

Arshdeep Singh

Indian fast bowler Arshdeep Singh is likely to be included in the lineup for the first ODI. He has been in excellent wicket-taking form and performed well in the T20 series against England, where he took 4 wickets across 3 matches. While his wicket tally may not seem overwhelming, his sharp bowling has posed challenges for the English batsmen. Arshdeep is adept at swinging the new ball and is also effective in the death overs, making him a strong candidate for a 5-wicket haul as well.

Business

MSSC Update: Key Deadline Alert for Indian Women! Nirmala Sitharaman Announces Important Details – Read More

Union Finance Minister Nirmala Sitharaman presented the country’s budget on February 1, 2025. In this budget for the financial year 2025-26, Nirmala Sitharaman made several important announcements. Giving a big relief to the middle class, the government made annual incomes of up to Rs 12 lakh completely tax-free. However, there was no expected update regarding a government scheme for women. Yes, we are talking about the Mahila Samman Savings Certificate (MSSC). Before the budget was presented, there were expectations that the government would extend the deadline of the MSSC scheme, but this did not happen.

MSSC Scheme to End on March 31, 2025

Finance Minister Nirmala Sitharaman did not propose an extension for the MSSC scheme in her budget speech. This means that the scheme will close on March 31, 2025, and no new investments will be allowed from April 1, 2025. Crores of women in the country now have only until March 31 to take advantage of this scheme. After this date, investment will no longer be possible.

MSSC Scheme Matures in 2 Years

The Mahila Samman Savings Certificate (MSSC) Scheme, which started in 2023, is a savings program run by the Central Government, exclusively for women. The scheme offers an interest rate of 7.5 per cent. Under the MSSC, a lump sum investment can be made, with a minimum investment of Rs 1,000 and a maximum of Rs 2 lakh. The scheme matures in 2 years, and any woman in the country can open an account under it. There is no age restriction for opening an account.

How to Apply for the Mahila Samman Savings Certificate Online

Step 1: Check Eligibility and Gather Documents

Ensure you have the necessary documents:

  • KYC: Proof of identity (Aadhaar/PAN card) and address (utility bill/bank statement)
  • Photographs: Recent passport-sized photo
  • Bank Details: Active savings account

Step 2: Visit the Bank’s Website or App

Log in to the bank’s website or mobile app that offers the scheme.

Step 3: Find the Scheme Section

Look for the Mahila Samman Savings Certificate under savings or investment options.

Step 4: Complete the Application Form

Fill in personal information, bank details, and the amount you wish to invest (up to ₹2 lakh).

Step 5: Upload Documents

Submit necessary documents (ID proof, address proof, photo).

Step 6: Make the Payment

Pay via net banking, UPI, or other methods.

Step 7: Confirmation and Certificate

After payment, you’ll receive a confirmation, and the certificate will be issued electronically or available for download.

latest news

Again Violence erupts in Bangladesh, Furious mob burns Sheikh Mujibur Rahman’s house

 

 

Bangladesh is once again in turmoil. A furious crowd, upset over a speech by former Bangladesh Prime Minister Sheikh Hasina, vandalized the memorial and home of Bangladesh’s founder, Sheikh Mujibur Rahman, located in Dhanmondi 32. This incident took place on the evening of February 5, when the mob stormed into Sheikh Mujibur Rahman’s residence, demanding a ban on Hasina’s party, the Awami League.

 

The attackers broke down the gate and rushed inside, causing chaos. They were seen climbing the building and damaging it, even setting the top floor of Sheikh Mujibur’s house ablaze. Footage of the mayhem is now spreading rapidly on social media.

 

This marks the second attack on Sheikh Mujibur Rahman’s house; it was previously targeted after Sheikh Hasina resigned and left the country. The mob labeled the building a symbol of dictatorship and fascism while chanting slogans.

 

Sheikh Hasina condemned the violence, stating that the rioters are ruining her childhood memories but will never erase her family’s history. She noted that while they can destroy the house, they won’t succeed in wiping out the legacy.

 

It’s worth mentioning that since Hasina’s departure from office and the country, the interim government led by Muhammad Yunus has ignored the chaos and religious extremism. Fundamentalist groups have been attacking minorities in Bangladesh, particularly the Hindu and Ahmadiya communities. Human Rights Watch (HRW) recently reported that these religious minorities were targeted due to their traditional support for Hasina’s Awami League party.

Entertainment

Haryanvi Dance: Sapna Choudhary Sets the Stage on Fire with Electrifying Dance Moves On ‘Teri Lat Lag Jagi’ Watch Now

Sapna Choudhary Viral Stage Dance: Sapna Choudhary’s status is like that of a Bollywood actress for whom people remain crazy. Be it at home or in the office, people like to watch Sapna Choudhary’s dance in their free time. Ever since Sapna got hold of dance, the Haryanvi industry became popular. As soon as the name of the Haryanvi world comes to mind, the first thing that comes to mind is Sapna Choudhary.

Her popularity is also very high. While roaming the resort, walking in the forest, or bathing in a water park, Sapna Choudhary shares her photos and videos on social media. She also receives a lot of love and affection from people on Facebook and Instagram.

Meanwhile, a dance video of Sapna Choudhary creating a ruckus shows her having a blast by jumping on the stage. Sapna Choudhary’s dance video shows that the crowd of people standing in front also creates a stir. If you have not seen her YouTube videos, you have not seen anything.

Haryanvi dancer Sapna Choudhary is seen creating a ruckus on the song Teri Lat Lal Jaagi. This video shows that Sapna Choudhary is charming in a blue suit and dupatta. This program is said to be of the night, with whom some people are also seen dancing. Seeing her style, the people sitting in front also lose their senses.

This video, which is only 3 minutes and 25 seconds long, was posted on the Sapna Entertainment channel on YouTube. It has been viewed 8.25 lakh times on this channel. The video is also not very old; it was shared only two months ago.

Business

What is The Systematic Transfer Plan (STP)? Discover How STP Benefits Middle-Class Investors

Systematic Transfer Plan: If you invest in mutual funds through SIP, this news is not only important for you but also beneficial. Today, we will learn about the Systematic Transfer Plan (STP), an investment strategy. Through STP, you can transfer your funds from one mutual fund scheme to another at pre-determined intervals. This transfer occurs periodically and can help you achieve higher returns.

Transfer Funds Within the Same Mutual Fund Company

STP proves to be very beneficial in a falling market as it helps reduce your losses significantly. Using STP, you can withdraw money from an equity scheme and transfer it to a debt scheme. Similarly, you can also move money from a debt scheme to an equity scheme. However, keep in mind that with STP, you can only transfer funds between schemes of the same mutual fund company. You cannot transfer funds from a scheme of one company to a scheme of another.

There are 3 types of STP

STP offers three types of options: Flexible STP, Fixed STP, and Capital Systematic Transfer Plan. STP has several benefits. For example, when the market is falling, you can switch from one scheme to another to limit your losses. Additionally, you can save on taxes by transferring funds from an equity scheme to an ELSS scheme. This also helps in managing risk.

Benefits of STP

Helps in reducing losses during a falling market by switching funds between schemes.
Allows tax savings by transferring funds from an equity scheme to an ELSS scheme.
Helps in managing investment risks effectively.

Increase Returns While Reducing Risk

By using STP, you can transfer funds from one scheme to another, reducing risks and losses while improving returns. It allows you to move funds from highly volatile schemes to more stable options, ensuring better financial security.

Who Should Invest in a Systematic Transfer Plan?

Systematic Transfer Plan (STP) mutual funds are ideal for individuals with limited resources who want to generate high returns by investing in the stock market. It is also suitable for investors who prefer to reinvest their money in relatively safer securities, such as debt instruments, during times of market instability or fluctuations.

Things to Remember When Investing with STP

1. Long-Term Investment

STP is designed for long-term investments, so you should not expect massive returns immediately. Be prepared for gradual growth over time.

2. Market Knowledge is Key

Investors should have a good understanding of market trends and patterns. Knowing how market values fluctuate will help you make the most of your investments in STP.

3. Consider Exit Loads and Taxes

When calculating expected returns, take exit loads and tax deductions into account. The security of your principal amount and the returns depend on the performance of the mutual funds you invest in.

4. Risk Reduction, Not Elimination

While STPs help reduce market risks, they cannot eliminate them. There will still be some level of risk involved.

Eligibility Criteria for STP Mutual Funds

To invest in STP mutual funds, you need to make at least six transfers among different investment schemes, as per the guidelines set by the Securities and Exchange Board of India (SEBI).

Health

Know what happens by drinking pomegranate tea in just one click

Know what happens by drinking pomegranate tea in just one click Pomegranate is very beneficial for our health but do we know one thing that what are the health benefits of drinking pomegranate juice in our body, if not then today through this article we will tell you what are the benefits of drinking pomegranate tea and in which season should we drink this tea and what is the method of making this tea, for complete information watch this video till the end.

Click here to watch full video in Hindi 

 

Timesbull

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