Benjamin Cherry

  Ahead of Budget 2025, the Institute of Chartered Accountants of India (ICAI) has suggested the government to allow joint taxation of married couples. Joint taxation for married couples is practised in developed countries like the USA and the UK. In this system, a married couple is treated as a single taxable unit, allowing them to combine their incomes for tax filing. Although the ICAI's proposal has sparked discussions about the need for joint taxation rules for spouses in India, tax experts believe such a change is unlikely in the upcoming budget. "While joint taxation will be a beneficial move, the government may take time to introduce such a scheme as it would require the introduction of a completely new regime with different slabs and rates, deductions, exemptions, surcharges, etc. Hence, it is uncertain if such a scheme will be introduced in the upcoming budget," says SR Patnaik, partner, and head of taxation at Cyril Amarchand Mangaldas, a law firm. Further exper...

 A comprehensive demographic analysis of global fertility in 204 countries and territories from 1950-2021 has found that fertility is declining globally and that future fertility rates will continue to decline worldwide, remaining low even under successful implementations of pro-natal policies. What has it noted about India? The Global Burden of Diseases, Injuries, and Risk Factors Study (GBD) 2021, noted that India has moved from a fertility rate of 6.18 in the 1950s to a Total Fertility Rate (TFR) of 1.9 in 2021. This, it pointed out, was below the replacement fertility level of 2.1 (which is the average number of children a woman should have to replace herself and her generation, for population stability). The GBD study projected that the TFR could fall further to 1.04 — barely one child per woman — by 2100. The steep fall in fertility levels has triggered concerns about the political and socio-economic fallout, especially in the southern States, which fear the loss of parliamen...

  Over 7.6 crore members of retirement fund body EPFO can now change personal details like name and date of birth online without any verification by the employer or approval by EPFO with the rollout of a new facility on Saturday. Besides, the Employees’ Provident Fund Organisation (EPFO) members with e-KYC EPF accounts (Aadhaar seeded) can file their EPF transfer claims online with Aadhaar OTP (one time password) directly without any need for intervention of the employer. Union Labour and Employment Minister Mansukh Mandaviya introduced the two new services on Saturday. The minister said around 27 per cent of grievances filed by members are related to member profile/KYC issues and that would see a significant drop after the rollout of the facility. He also stated that large employers having a huge workload of such requests will also benefit. The minister stated that the EPFO has simplified the process of joint declaration on the EPFO portal by allowing employees to self-correct mos...

 With the completion of development works like Archaeological Experience Museum (Puratava Anubhav Sangrahalaya), Prerna Sankul and Sports Complex in Vadnagar, tourists visiting Vadnagar will now get a new experience. Archaeological Experience Museum is the first museum of its kind in India, which has been developed by the Union Ministry of Culture in collaboration with the state Directorate of Archaeology and Museums. This museum is connected to the live excavation site through a bridge. Built at an estimated cost of ₹298 crore, this four-storey museum is spread over an area of ​​about 12,500 square meters. The museum building houses more than 5000 artifacts found during archaeological excavations along with audio-visual films and exhibitions, which reveal the 2500 years of history of Vadnagar. A permanent shed has been built to provide tourists with an experience of the archaeological finds from the excavations of Vadnagar and other tourism facilities have been developed. The muse...

  Asserting that India is emerging as a major pole in world economy, Singapore President Tharman Shanmugaratnam on Saturday said his country was trying to contribute to the semiconductor ecosystem and the air connectivity sector. "India aspires to be a pole in its own right, in a multipolar world that is true geopolitically, but it is also true economically. India is emerging as a major pole of the global economy. India is a nation with which we would like to collaborate," he said, while briefing the media at the end of his two-day tour to Odisha. "Because of its demographics, its own development processes, and significant potential in its export economy, India is a nation that Singapore would likely collaborate with," he added. Stating that "India's priorities and Singapore's priorities are also very similar," the President added, "According to the priorities established under the India-Singapore Ministerial Roundtable, the two governments ar...

 Sensitive details of Saif Ali Khan's health insurance claim, revealing that the Bollywood actor applied for a claim of Rs 35.95 lakh, have recently been leaked on social media. The leak has raised concerns, with a Mumbai-based cardiac surgeon commenting on the disparities in health insurance coverage for the general public. Poll Should Health Insurance Cover All Treatments Without Limits? No, Limits Are NecessaryYes, It Ensures Comprehensive Care Saif Ali Khan was attacked by an intruder at his Bandra West residence, leaving him with multiple stab wounds. He was rushed to Lilavati Hospital for treatment. The leak included details of Saif's health insurance claim, showing that Rs 25 lakh had already been approved by Niva Bupa Health Insurance, while the total claim amount stands at Rs 35.95 lakh. Dr. Prashant Mishra, a cardiac surgeon in Mumbai, pointed out that such a substantial claim amount would rarely be sanctioned for a common policyholder. He shared that middle-class pol...