By raising the life insurance coverage to 7 lakh, the Employees' Provident Fund Organization (EPFO) has expanded its EDLI benefits and given more than six crore members more financial security. The elements of the program, the requirements for qualifying, and the procedure for claiming benefits are all explained in the article. Employers are essential in helping workers or their families get these benefits, highlighting the government's emphasis on increased worker social security.

This blog article addresses the rationalization of TDS rates, which will take effect on October 1, 2024. It also covers the effects on individual taxpayers, the withdrawal of 20% TDS upon buyback by mutual funds and UTI, and the decreased rates for various sections. An summary of the modifications and how they affect the tax system is given.

This blog article offers a thorough examination of the recent Cabinet decision to approve elderly people of India's universal health care. It examines the plan's salient points, advantages for the senior citizenry, ramifications for the economy and society, and possibilities and difficulties that come with putting it into practice.

This blog post offers a thorough explanation of tax allowances and deductions, including company and personal deductions, along with instructions on how to claim them in order to reduce your tax liability.

A step-by-step approach for registering a proprietorship firm is provided by this thorough guide, which covers everything from selecting a business name to registering a DBA name, getting licenses and permits, requesting an EIN, creating a business bank account, filing taxes, and getting insurance. The handbook gives entrepreneurs a complete grasp of this company form by going over the benefits and drawbacks of sole proprietorships.

An extensive guide on India's income tax benefits for salaried individuals for the fiscal year 2024 may be found in this blog post. It includes a number of allowances, including standard deduction, professional tax, perks, medical allowance, housing rent allowance (HRA), transportation allowance, leave travel allowance (LTA), and medical allowance. The article also discusses other Section 80C, Section 80D, and Section 24 deductions that are possible, such as interest on house loans, medical insurance, and investment-linked deductions. Salaried people can maximize their tax savings and reduce their taxable income by being aware of and utilizing these deductions and allowances.

Budget 2024 has introduced a new provision, Section 74A, which aims to bring clarity to the insurance sector and reduce compliance costs for startups. This blog post provides an in-depth analysis of Section 74A, its features, penalty provisions, and implications on the insurance sector and startups.