Tax laws provide that interest credited to an employee provident fund (EPF) account after an individual ceases to be in employment is taxable in his hands in the year of credit. In its recent order, the Bengaluru bench of the Income-Tax Appellate Tribunal (ITAT) also upheld this I-T provision while determining the matter of a retired employee. … Continue reading “No Tax relief for employee on EPF Interest”

It has been made mandatory by Insurance Regulator IRDAI on Wednesday to link your unique identity number Aadhaar with insurance policies. It has also asked insurers to comply with the statutory norms. The government in June had notified the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017 making Aadhaar and PAN/Form 60 mandatory … Continue reading “Insurance policies made mandatory to link with Aadhaar and PAN”

Submitted by business_centrik on 14/02/2017 A new survey has revealed instances of online marketplaces window-dressing the discounts they offer by quoting product prices that are higher than the maximum retail price (MRP). The issue had been repeatedly raised at various communities of online network Local Circles, including the community created by the Department of Consumer Affairs, following … Continue reading “‘Online marketplaces offering discounts after inflating MRP’”