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IndiaTV Business: Google News Feed: Digest for July 11, 2024

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The deadline of July 31 to file the Income Tax Return for assessment year 2024-25 is nearing. Once the ITR is filed, the Income Tax Department will conduct an assessment and provide tax refunds. Hence, the filing of the ITR and subsequent processing of it is of paramount importance. Let us take a look at how the Tax department processes the ITR.
Stock markets update: Equity benchmark indices opened higher in early trade on Tuesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 205.99 points to 80,166.37. Meanwhile, the Nifty was also up by 53 points to 24,373.55. 
Budget 2024: The government is considering doubling the beneficiary base under its flagship Ayushman Bharat health insurance scheme over the next three years, beginning with the inclusion of all individuals aged above 70 years. The Centre may also increase the insurance coverage to Rs 10 lakh per year in the Union Budget 2024.
PF account balance: Employees who contribute to an Employees' Provident Fund (EPF) account can conveniently check their EPF balance online, eliminating the need to wait for their employer to provide the annual EPF statement. According to EPFO rules, 12 per cent of an employee's basic salary and dearness allowance (DA) is deposited monthly into the PF account, with the company also contributing 12 per cent. Of the company's contribution, 3.67 per cent goes to the PF account, while 8.33 per cent is allocated to the pension scheme. There are several methods available for employees to check their PF account balance instantly. Here are four easy ways to access this information.
The Indian Medical Association (IMA) has called for a significant increase in financial resources allocated to the health sector in the upcoming budget. In a letter addressed to Finance Minister Nirmala Sitharaman, the IMA advocated for a tax-based health financing system. The association highlighted the low government spending on health, noting that allocations ranging from 1.1 to 1.6 per cent of GDP by various administrations are among the lowest globally. The IMA emphasised the urgent need for increased funding to improve the nation's healthcare infrastructure and services.
Tomato price rise: Tomato woes are back, with the staple now retailing at an average price of Rs 70-80 per kg, compared to the earlier Rs 30-35 per kg, in several parts of India. In multiple cities, prices have surged up to Rs 90 per kilogram, likely impacting millions of households. Several factors have contributed to this price hike, including unfavourable weather conditions affecting crop yields, disruptions in the supply chain, and increased transportation costs. These challenges have collectively driven up the cost of tomatoes, straining household budgets across the nation.
Budget 2024: In the general budget for the fiscal year 2024-25, the focus should be on providing relief to taxpayers, especially those in the lower-income group, to boost consumption, Industry leaders suggested to Finance Minister Nirmala Sitharaman. Sitharaman is set to present the full budget for 2024-25 on July 23, which will be the first major policy document of the Narendra Modi 3.0. The industry has also urged the Finance Minister to reduce corporate taxes, phase out tax exemptions, and broaden the tax base to promote economic growth.
The equity benchmark indices BSE Sensex and NSE Nifty surged to record highs on Tuesday. The Sensex closed at a new peak of 80,351.64, up 391.26 points, after hitting an intra-day high of 80,397. Meanwhile, the Nifty ended at 24,433.20, gaining 112.65 points and closing above the 24,400 mark for the first time in history.
The Reserve Bank of India released an update on employment in India and said that the nation added nearly 4.7 crore jobs during the financial year 2023-24. With this, the total number of employed people in India reached 64.33 crore, who are spread over 27 sectors covering the entire economy.
Prime Minister Narendra Modi will meet with top economists and sectoral experts on Thursday to gather insights for the upcoming Union Budget. Union Finance Minister Nirmala Sitharaman is slated to present the 2024–25 Budget in the Lok Sabha on July 23. The meeting will also feature Niti Aayog, Vice Chairman Suman Bery and other key members.
PF account balance: Employees who contribute to an Employees' Provident Fund (EPF) account can conveniently check their EPF balance online, eliminating the need to wait for their employer to provide the annual EPF statement. According to EPFO rules, 12 per cent of an employee's basic salary and dearness allowance (DA) is deposited monthly into the PF account, with the company also contributing 12 per cent. Of the company's contribution, 3.67 per cent goes to the PF account, while 8.33 per cent is allocated to the pension scheme. There are several methods available for employees to check their PF account balance instantly. Here are four easy ways to access this information.
The Indian Medical Association (IMA) has called for a significant increase in financial resources allocated to the health sector in the upcoming budget. In a letter addressed to Finance Minister Nirmala Sitharaman, the IMA advocated for a tax-based health financing system. The association highlighted the low government spending on health, noting that allocations ranging from 1.1 to 1.6 per cent of GDP by various administrations are among the lowest globally. The IMA emphasised the urgent need for increased funding to improve the nation's healthcare infrastructure and services.
Tomato price rise: Tomato woes are back, with the staple now retailing at an average price of Rs 70-80 per kg, compared to the earlier Rs 30-35 per kg, in several parts of India. In multiple cities, prices have surged up to Rs 90 per kilogram, likely impacting millions of households. Several factors have contributed to this price hike, including unfavourable weather conditions affecting crop yields, disruptions in the supply chain, and increased transportation costs. These challenges have collectively driven up the cost of tomatoes, straining household budgets across the nation.
Budget 2024: In the general budget for the fiscal year 2024-25, the focus should be on providing relief to taxpayers, especially those in the lower-income group, to boost consumption, Industry leaders suggested to Finance Minister Nirmala Sitharaman. Sitharaman is set to present the full budget for 2024-25 on July 23, which will be the first major policy document of the Narendra Modi 3.0. The industry has also urged the Finance Minister to reduce corporate taxes, phase out tax exemptions, and broaden the tax base to promote economic growth.
The equity benchmark indices BSE Sensex and NSE Nifty surged to record highs on Tuesday. The Sensex closed at a new peak of 80,351.64, up 391.26 points, after hitting an intra-day high of 80,397. Meanwhile, the Nifty ended at 24,433.20, gaining 112.65 points and closing above the 24,400 mark for the first time in history.
The Reserve Bank of India released an update on employment in India and said that the nation added nearly 4.7 crore jobs during the financial year 2023-24. With this, the total number of employed people in India reached 64.33 crore, who are spread over 27 sectors covering the entire economy.
Prime Minister Narendra Modi will meet with top economists and sectoral experts on Thursday to gather insights for the upcoming Union Budget. Union Finance Minister Nirmala Sitharaman is slated to present the 2024–25 Budget in the Lok Sabha on July 23. The meeting will also feature Niti Aayog, Vice Chairman Suman Bery and other key members.
ITR filing 2024: The process of filing Income Tax Returns (ITR) for the assessment year 2023-24 has commenced. Filing ITR can be challenging, especially for first-time filers. The deadline for filing ITR for the financial year 2023-24 is July 31. If you haven't filed your return yet, it is advisable not to delay. Rushing at the last moment can lead to mistakes. Therefore, gather all necessary documents and file your return promptly. Here are five things to keep in mind while filing your return to avoid errors and ensure smooth processing:
Budget 2024: The government may relax the mandatory requirement to pay MSMEs within 45 days of purchasing goods and services to prevent large corporations from exploring alternative sourcing avenues, according to the news agency PTI sources. An official announcement in this regard is expected during the Budget presentation scheduled for July 23.
Budget 2024: The government is considering a proposal to increase the minimum guaranteed amount under its popular social security initiative, Atal Pension Yojana (APY). Currently, the scheme offers a guaranteed pension ranging from Rs 1,000 to Rs 5,000 per month, depending on the subscriber's contribution. According to the Economic Times, the government may double this minimum guaranteed amount to Rs 10,000. A decision on this proposal is expected around the Budget presentation, scheduled for July 23.
The Indian Medical Association (IMA) has called for a significant increase in financial resources allocated to the health sector in the upcoming budget. In a letter addressed to Finance Minister Nirmala Sitharaman, the IMA advocated for a tax-based health financing system. The association highlighted the low government spending on health, noting that allocations ranging from 1.1 to 1.6 per cent of GDP by various administrations are among the lowest globally. The IMA emphasised the urgent need for increased funding to improve the nation's healthcare infrastructure and services.
Tomato price rise: Tomato woes are back, with the staple now retailing at an average price of Rs 70-80 per kg, compared to the earlier Rs 30-35 per kg, in several parts of India. In multiple cities, prices have surged up to Rs 90 per kilogram, likely impacting millions of households. Several factors have contributed to this price hike, including unfavourable weather conditions affecting crop yields, disruptions in the supply chain, and increased transportation costs. These challenges have collectively driven up the cost of tomatoes, straining household budgets across the nation.
Budget 2024: In the general budget for the fiscal year 2024-25, the focus should be on providing relief to taxpayers, especially those in the lower-income group, to boost consumption, Industry leaders suggested to Finance Minister Nirmala Sitharaman. Sitharaman is set to present the full budget for 2024-25 on July 23, which will be the first major policy document of the Narendra Modi 3.0. The industry has also urged the Finance Minister to reduce corporate taxes, phase out tax exemptions, and broaden the tax base to promote economic growth.
The equity benchmark indices BSE Sensex and NSE Nifty surged to record highs on Tuesday. The Sensex closed at a new peak of 80,351.64, up 391.26 points, after hitting an intra-day high of 80,397. Meanwhile, the Nifty ended at 24,433.20, gaining 112.65 points and closing above the 24,400 mark for the first time in history.
The Reserve Bank of India released an update on employment in India and said that the nation added nearly 4.7 crore jobs during the financial year 2023-24. With this, the total number of employed people in India reached 64.33 crore, who are spread over 27 sectors covering the entire economy.
Prime Minister Narendra Modi will meet with top economists and sectoral experts on Thursday to gather insights for the upcoming Union Budget. Union Finance Minister Nirmala Sitharaman is slated to present the 2024–25 Budget in the Lok Sabha on July 23. The meeting will also feature Niti Aayog, Vice Chairman Suman Bery and other key members.
ITR filing 2024: The process of filing Income Tax Returns (ITR) for the assessment year 2023-24 has commenced. Filing ITR can be challenging, especially for first-time filers. The deadline for filing ITR for the financial year 2023-24 is July 31. If you haven't filed your return yet, it is advisable not to delay. Rushing at the last moment can lead to mistakes. Therefore, gather all necessary documents and file your return promptly. Here are five things to keep in mind while filing your return to avoid errors and ensure smooth processing:
Budget 2024: The government may relax the mandatory requirement to pay MSMEs within 45 days of purchasing goods and services to prevent large corporations from exploring alternative sourcing avenues, according to the news agency PTI sources. An official announcement in this regard is expected during the Budget presentation scheduled for July 23.
Budget 2024: The government is considering a proposal to increase the minimum guaranteed amount under its popular social security initiative, Atal Pension Yojana (APY). Currently, the scheme offers a guaranteed pension ranging from Rs 1,000 to Rs 5,000 per month, depending on the subscriber's contribution. According to the Economic Times, the government may double this minimum guaranteed amount to Rs 10,000. A decision on this proposal is expected around the Budget presentation, scheduled for July 23.
As the Finance Ministry prepares to present the 2024–25 fiscal year budget, the National Democratic Alliance (NDA) government is contemplating a significant reform for central government employees. According to a report by the Times of India, the government may offer 50% of the last drawn salary as a pension under the National Pension System (NPS).
The Indian Medical Association (IMA) has called for a significant increase in financial resources allocated to the health sector in the upcoming budget. In a letter addressed to Finance Minister Nirmala Sitharaman, the IMA advocated for a tax-based health financing system. The association highlighted the low government spending on health, noting that allocations ranging from 1.1 to 1.6 per cent of GDP by various administrations are among the lowest globally. The IMA emphasised the urgent need for increased funding to improve the nation's healthcare infrastructure and services.
Tomato price rise: Tomato woes are back, with the staple now retailing at an average price of Rs 70-80 per kg, compared to the earlier Rs 30-35 per kg, in several parts of India. In multiple cities, prices have surged up to Rs 90 per kilogram, likely impacting millions of households. Several factors have contributed to this price hike, including unfavourable weather conditions affecting crop yields, disruptions in the supply chain, and increased transportation costs. These challenges have collectively driven up the cost of tomatoes, straining household budgets across the nation.
Budget 2024: In the general budget for the fiscal year 2024-25, the focus should be on providing relief to taxpayers, especially those in the lower-income group, to boost consumption, Industry leaders suggested to Finance Minister Nirmala Sitharaman. Sitharaman is set to present the full budget for 2024-25 on July 23, which will be the first major policy document of the Narendra Modi 3.0. The industry has also urged the Finance Minister to reduce corporate taxes, phase out tax exemptions, and broaden the tax base to promote economic growth.
The equity benchmark indices BSE Sensex and NSE Nifty surged to record highs on Tuesday. The Sensex closed at a new peak of 80,351.64, up 391.26 points, after hitting an intra-day high of 80,397. Meanwhile, the Nifty ended at 24,433.20, gaining 112.65 points and closing above the 24,400 mark for the first time in history.
The Reserve Bank of India released an update on employment in India and said that the nation added nearly 4.7 crore jobs during the financial year 2023-24. With this, the total number of employed people in India reached 64.33 crore, who are spread over 27 sectors covering the entire economy.
Prime Minister Narendra Modi will meet with top economists and sectoral experts on Thursday to gather insights for the upcoming Union Budget. Union Finance Minister Nirmala Sitharaman is slated to present the 2024–25 Budget in the Lok Sabha on July 23. The meeting will also feature Niti Aayog, Vice Chairman Suman Bery and other key members.
ITR filing 2024: The process of filing Income Tax Returns (ITR) for the assessment year 2023-24 has commenced. Filing ITR can be challenging, especially for first-time filers. The deadline for filing ITR for the financial year 2023-24 is July 31. If you haven't filed your return yet, it is advisable not to delay. Rushing at the last moment can lead to mistakes. Therefore, gather all necessary documents and file your return promptly. Here are five things to keep in mind while filing your return to avoid errors and ensure smooth processing:
Budget 2024: The government may relax the mandatory requirement to pay MSMEs within 45 days of purchasing goods and services to prevent large corporations from exploring alternative sourcing avenues, according to the news agency PTI sources. An official announcement in this regard is expected during the Budget presentation scheduled for July 23.
Budget 2024: The government is considering a proposal to increase the minimum guaranteed amount under its popular social security initiative, Atal Pension Yojana (APY). Currently, the scheme offers a guaranteed pension ranging from Rs 1,000 to Rs 5,000 per month, depending on the subscriber's contribution. According to the Economic Times, the government may double this minimum guaranteed amount to Rs 10,000. A decision on this proposal is expected around the Budget presentation, scheduled for July 23.
As the Finance Ministry prepares to present the 2024–25 fiscal year budget, the National Democratic Alliance (NDA) government is contemplating a significant reform for central government employees. According to a report by the Times of India, the government may offer 50% of the last drawn salary as a pension under the National Pension System (NPS).
The Indian Medical Association (IMA) has called for a significant increase in financial resources allocated to the health sector in the upcoming budget. In a letter addressed to Finance Minister Nirmala Sitharaman, the IMA advocated for a tax-based health financing system. The association highlighted the low government spending on health, noting that allocations ranging from 1.1 to 1.6 per cent of GDP by various administrations are among the lowest globally. The IMA emphasised the urgent need for increased funding to improve the nation's healthcare infrastructure and services.
Tomato price rise: Tomato woes are back, with the staple now retailing at an average price of Rs 70-80 per kg, compared to the earlier Rs 30-35 per kg, in several parts of India. In multiple cities, prices have surged up to Rs 90 per kilogram, likely impacting millions of households. Several factors have contributed to this price hike, including unfavourable weather conditions affecting crop yields, disruptions in the supply chain, and increased transportation costs. These challenges have collectively driven up the cost of tomatoes, straining household budgets across the nation.
Budget 2024: In the general budget for the fiscal year 2024-25, the focus should be on providing relief to taxpayers, especially those in the lower-income group, to boost consumption, Industry leaders suggested to Finance Minister Nirmala Sitharaman. Sitharaman is set to present the full budget for 2024-25 on July 23, which will be the first major policy document of the Narendra Modi 3.0. The industry has also urged the Finance Minister to reduce corporate taxes, phase out tax exemptions, and broaden the tax base to promote economic growth.
The equity benchmark indices BSE Sensex and NSE Nifty surged to record highs on Tuesday. The Sensex closed at a new peak of 80,351.64, up 391.26 points, after hitting an intra-day high of 80,397. Meanwhile, the Nifty ended at 24,433.20, gaining 112.65 points and closing above the 24,400 mark for the first time in history.
The Reserve Bank of India released an update on employment in India and said that the nation added nearly 4.7 crore jobs during the financial year 2023-24. With this, the total number of employed people in India reached 64.33 crore, who are spread over 27 sectors covering the entire economy.
Prime Minister Narendra Modi will meet with top economists and sectoral experts on Thursday to gather insights for the upcoming Union Budget. Union Finance Minister Nirmala Sitharaman is slated to present the 2024–25 Budget in the Lok Sabha on July 23. The meeting will also feature Niti Aayog, Vice Chairman Suman Bery and other key members.
ITR filing 2024: The process of filing Income Tax Returns (ITR) for the assessment year 2023-24 has commenced. Filing ITR can be challenging, especially for first-time filers. The deadline for filing ITR for the financial year 2023-24 is July 31. If you haven't filed your return yet, it is advisable not to delay. Rushing at the last moment can lead to mistakes. Therefore, gather all necessary documents and file your return promptly. Here are five things to keep in mind while filing your return to avoid errors and ensure smooth processing:
Budget 2024: The government may relax the mandatory requirement to pay MSMEs within 45 days of purchasing goods and services to prevent large corporations from exploring alternative sourcing avenues, according to the news agency PTI sources. An official announcement in this regard is expected during the Budget presentation scheduled for July 23.
Budget 2024: The government is considering a proposal to increase the minimum guaranteed amount under its popular social security initiative, Atal Pension Yojana (APY). Currently, the scheme offers a guaranteed pension ranging from Rs 1,000 to Rs 5,000 per month, depending on the subscriber's contribution. According to the Economic Times, the government may double this minimum guaranteed amount to Rs 10,000. A decision on this proposal is expected around the Budget presentation, scheduled for July 23.
As the Finance Ministry prepares to present the 2024–25 fiscal year budget, the National Democratic Alliance (NDA) government is contemplating a significant reform for central government employees. According to a report by the Times of India, the government may offer 50% of the last drawn salary as a pension under the National Pension System (NPS).
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