This blog outlines seven new government benefits for senior citizens in India, aimed at improving their quality of life. These perks include expanded health insurance (Ayushman Bharat) for those 70+, free assistive devices (Rashtriya Vayoshri Yojana), increased pension amounts, opportunities for active aging through jobs and social groups (SACRED Portal), support for the "Silver Economy" through startup funding (SAGE portal), a dedicated helpline for safety and protection (Elderline 14567), and improved access to facilities via state action plans. The article also provides a brief guide on how seniors can access these benefits, emphasizing a holistic approach to ensuring respect, health, financial security, and happiness for India's elderly population.

India's Financial Intelligence Unit (FIU-IND) has mandated comprehensive cybersecurity audits for all Virtual Digital Asset (VDA) service providers, including crypto exchanges and custodians. These audits, to be conducted by CERT-In approved auditors, signal a major shift towards a more secure and regulated crypto ecosystem in India. The move aims to combat cybercrime, money laundering, and boost investor confidence, bringing the crypto sector in line with traditional financial regulations. Firms must now prioritize compliance, update security protocols, and prepare for the new PACT certification, marking an end to lax security practices.

This blog provides a simple guide to help taxpayers differentiate between genuine and fraudulent income tax notices. It outlines five key verification steps, such as checking the DIN and sender details, to prevent falling victim to financial scams.

The Income Tax Department has made Aadhaar-based OTP verification mandatory for PAN registration on its e-filing portal. This crucial update aims to enhance security, prevent fraud, and streamline identity verification. The blog explains what this change means for applicants, the reasons behind the shift (like improved verification and faster PAN-Aadhaar integration), and the steps individuals need to take, emphasizing the importance of having an active mobile number linked to Aadhaar for a smooth application process.

This blog discusses how Section 10(46) of the Income Tax Act exempts the Delhi Construction Workers Welfare Board from paying taxes, allowing it to effectively finance construction workers' welfare initiatives.

This blog post discusses the Employees' Pension Scheme (EPS) 1995, a social security program in India designed to provide retirement income to employees in the organized sector. It covers the scheme's launch, purpose, administration by the EPFO, and the age at which employees can begin receiving pension benefits. The focus is on explaining the EPS 95 scheme and its significance for retirement planning.

For Central Government personnel covered by the National Pension System (NPS), the Ministry of Finance launched the Unified Pension Scheme, which offers an assured payment alternative. This alternative plan adheres to the current framework of NPS rules while providing flexibility, financial stability, and streamlined pension benefits.

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.

Beginning in September 2024, the GST Portal will begin deleting return data older than seven years, which is a significant change for Indian GST filers. Cost reasons, issues related to data security, and regulatory compliance have all motivated this adjustment. Taxpayers need to move quickly to protect their data by printing or downloading copies, utilizing external hard drives or cloud storage, and strengthening record-keeping procedures. Businesses will remain audit-ready and compliant even when past data is archived or removed from the GST Portal thanks to these proactive measures.

Filing your income tax return can be a daunting task, but by avoiding these 10 critical mistakes, you can ensure a smooth and stress-free filing experience. From missing the tax filing deadline to claiming ineligible deductions, these common errors can lead to delays, penalties, and even audits. Take the time to review your return carefully and avoid these costly mistakes.

Learn the importance of pre-validating a bank account, the benefits it offers, and how to do it efficiently with our comprehensive guide.

Blockchain for GST: Enhancing Transparency and Security in the Indian Tax System" highlights the application of blockchain technology to bolster transparency and security within India's Goods and Services Tax (GST) framework. By leveraging blockchain's immutable ledger system, the initiative aims to create a more robust and trustworthy tax ecosystem, reducing fraud, enhancing accountability, and fostering greater confidence among taxpayers and stakeholders.