Latest news with #HUF
India Today
5 days ago
- Business
- India Today
Who has to file ITR by when? All 2025 deadlines explained
Filing your income tax return (ITR) on time is important if you want to avoid late fees and other troubles. The Income Tax Department has given some relief this year by extending the ITR filing deadline for taxpayers. But not everyone has the same due date, it depends on whether your accounts need an audit or ITR DEADLINE FOR SALARIED AND OTHERSIf you are a salaried person, or if you belong to a Hindu Undivided Family (HUF) or any other category where your accounts do not need an audit, you now have more time. The last date to file your ITR for the financial year 2024-25 (assessment year 2025-26) is now September 15, 2025 instead of July 31, government extended this deadline by 45 days because of new changes in the ITR forms and to give people enough time to file correctly using the updated HAS TO FILE BY OCTOBER 31, 2025? If you run a business, own a company, or work as a partner in a firm whose accounts need an audit, then your deadline is different. First, you must submit your audit report by September 30, 2025. After that, you have time till October 31, 2025 to file your now, there is no news of any extension for these audit-related deadlines, so make sure you plan well in TRANSACTIONS? YOU GET TILL NOVEMBER-ENDSome taxpayers who have international deals or certain special domestic transactions need to submit a report under Section 92E. If this applies to you, then your ITR deadline is November 30, 2025, and your audit report must be filed by October 31, there is no word on any extension for these dates either, so it's better to prepare all documents THE DUE DATE? THERE'S A BACKUP PLANIf you somehow miss your main deadline, don't panic. You can still file a belated ITR till December 31, 2025. But remember, this comes with a penalty and you might lose some benefits, like carrying forward happens if you file late?If you file late, you may have to pay interest at 1% per month on any unpaid tax. There's also a fixed your total income is below Rs 5 lakh, the late fee is Rs 1,000. If it's above Rs 5 lakh, you may have to pay Rs 5,000 if you file late but before December 31, it's always better to file on time and avoid last-minute stress. The new ITR forms are now live on the portal, and you can file online with pre-filled details to make things easier. Check your category and mark your calendar to stay on the safe side.- EndsMust Watch
Finextra
6 days ago
- Business
- Finextra
The Business Beyond Affordable Money Transfers: By Konstantin Rabin
The global fintech transformation has served as the biggest catalyst for seamless money transfers, payments, and other types of transactions. Wise and Revolut have emerged as two of the most active drivers of the global fintech market. However, low-cost money transfers are not the end of the story, as these businesses expand and transform from startups to financial powerhouses in their own right. Whether you are receiving payments for freelance work, sending money online, or converting HUF to dollar, chances are that your first two choices are indeed Wise and Revolut. Aside from affordable transfers, Wise and Revolut have a lot more to offer and the list of their services keeps expanding over the years. Transparency is Key One of the major hurdles for international money transfers and payments has been the extensive KYC and AML policies which made registering and verifying your account a lengthy and inconvenient process. Major commercial banks have been relatively slow to adapt to the changing consumer behavior and the digital-first approach most users expect from their financial service providers these days. Transparency and simplified KYC is where Wise and Revolut thrive. The onboarding process is quick and easy at both companies, which makes them super convenient. Global coverage and access to multiple currencies also means that digital nomads and people who generally travel a lot, can rest assured that their payments will arrive on time. How Wise and Revolut Compare Wise is focused on its positioning as an ethical fintech company. The firm is publicly listed, consistently profitable, and avoids high-risk activities like crypto and stock trading. This ensures that Wise maintains consistency in the eyes of its users and remains a safe and reliable partner long term. On the other hand, Revolut has a more bold and maximalist approach, uniting more services like stock trading, lifestyle and travel perks, etc. With Revolut's services comes more regulatory scrutiny, which has created issues with local regulatory authorities in the past. The Swiss Army Knife of Fintech Both Wise and Revolut have plans to become the go-to app for everything financial. By integrating their entire service offerings under one roof, these companies streamlining the payment processing, invoicing, money transfer and currency exchange services for millions of users. Their international reach is also constantly expanding into new markets, which is a vital part of their growth strategies. Different segments of Wise and Revolut users have vastly different financial needs, which means that both companies have ample room for growth by expanding their services. However, their philosophy towards expansion has been considerably different, with Wise focusing on reliable and seamless cross-border payments and freelancers, while Revolut has expanded to include stock investing services. Monetizing the Ecosystem Building a large fintech exosystem also provides greater opportunities for monetization, which is evident in the robust revenue growth shown in Wise's accounts. Quarterly revenues have been increasing year over year, with the latest 2025 Q2 figure showing a 10% increase compared to the previous fiscal year. With every financial company, Wise and Revolut also face the same risks when it comes to their bottom line. When consumers are not confident in their buying power, they tend to spend less, which reduces the volume of transfers that go through Wise and Revolut channels. Robust consumer spending is essential for the success of both companies, allowing them to consolidate their financial infrastructure and give users a more well-rounded end product. Regulatory Maturity and Global Reach As Wise and Revolut mature as companies and grow into dominant players in their market, local and international regulators will need to catch on, ensuring consumer protections are in place without stifling their growth. Regulations can often be a major hurdle for fintech firms, especially when it comes to cross-border transactions and payments, due to elevated risk of money laundering and other illicit financial activities. A more flexible regulatory environment is essential for Wise and Revolut to thrive and continue their path to global expansion, reaching many unbanked individuals in developing countries and giving them access to much needed financial infrastructure. The rate of digitization in developing economies is also a welcome sign for Wise and Revolut, giving them access to frontier markets and opportunities to develop novel services to bridge the gap.
Budapest Times
6 days ago
- Business
- Budapest Times
Government publishes draft decree on Home Start Programme
The Hungarian government has published a draft decree on the Home Start Programme, a subsidised credit scheme for first-time home buyers. The Prime Minister's Office said in a statement that the programme targeted primarily young Hungarians, adding that it could help tens of thousands buy their first home in the coming years. The 3pc fixed-rate credit up to HUF 50m will be available, from September 1, to all first-time home buyers, regardless of age or family status. Eligibility extends to borrowers who have not owned residential property for the previous ten years, owners of real estate with a value under HUF 15m and people whose ownership stake in a home does not exceed 50pc. Eligibility also extends to owners of property slated for demolition or, in some cases, encumbered with usufruct. In the case of applications for credit by couples, either married or in civil partnerships, only one person must meet the ownership eligibility requirements. Borrowers must be 18 or older, but show their social security contributions have been covered for a period of at least two years. Borrowers must certify they owe no back taxes and have no criminal record. They must also comply with lenders' conditions for creditworthiness. Prices of eligible homes in the scheme are capped at HUF 100m for ones in multidwelling buildings and HUF 150m for detached houses. The area-based price limit is set at HUF 1.5m per square metre. The down payment for credit in the scheme is 10pc. Applications for the credit will be accepted from September 1, according to the draft decree.
Budapest Times
22-07-2025
- Business
- Budapest Times
State Secretary: Home Start programme could support ‘normalisation or even reduction' of rental rates
State Secretary Miklós Panyi said a subsidised credit scheme for first-time home buyers could boost the rate of owner-occupied residential property in Hungary, supporting the 'normalisation or even reduction' of rental rates. In a talk on the Home Start Programme with Gergely Gulyás, the head of the Prime Minister's Office, Panyi said the Home Start Programme could give people looking for investment real estate an incentive to put their money elsewhere, causing the market to 'cool'. The programme, set to launch on September 1, will offer all first-time home buyers, regardless of age or family status, a 3pc fixed-rate loan up to HUF 50m for the purchase of flats in multidwelling units up to HUF 100m and detached homes up to HUF 150m. The down payment for borrowers is set at 10pc. Panyi said that ownership of real estate with a value under HUF 15m or of a part of a home, up to 50pc, would not exclude potential borrowers from the Home Start Programme.
Budapest Times
17-07-2025
- Business
- Budapest Times
Gergely Gulyás: Whoever supports this budget, finds Ukraine more important than Hungary
At today's Government Info press briefing, Minister Gergely Gulyás described the draft as a 'pro-Ukraine budget' and emphasized that Hungary cannot support it in its current form. According to the minister, the leaked proposal allocates a quarter of the EU's entire budget—€190 billion for Ukraine and €88 billion for enlargement purposes—while cutting funding for cohesion policy and the Common Agricultural Policy. 'They're taking money away from farmers and cohesion and sending it to Ukraine. Anyone who supports this is placing Ukraine ahead of Hungary,' Gulyás declared. The government expressed full solidarity with Hungarian farmers protesting the cuts. Prime Minister Viktor Orbán had earlier warned that the proposal would make European farmers the biggest losers while positioning Ukraine as the primary beneficiary. 'This draft cannot even serve as a basis for negotiations,' Gulyás asserted, adding that the Commission also aims to expand EU bureaucracy by hiring 2,500 new employees and increasing their salaries—moves the Hungarian government considers unjustifiable. In response, Hungary is calling on all political actors to reject the Commission's proposal and reaffirm their support for a cohesive agricultural policy that benefits all EU citizens. The government also urged a return to an objective cohesion policy, free from political conditionality. Beyond budget issues, the government introduced the 'Home Start' loan program. Starting September 1, working Hungarians without their own home will be eligible for a 3% mortgage loan of up to HUF 50 million. The loan—available for a maximum of 25 years—can be used for flats priced up to HUF 100 million or houses up to HUF 150 million, with a price cap of HUF 1.5 million per square meter. The regulatory framework will be finalized by early August. The briefing also addressed growing concerns about Ukraine's internal practices. Minister Gulyás condemned the recent death of Sebestyén József, a Hungarian-Ukrainian dual citizen who died from injuries sustained during violent forced conscription. He stated that any country where such practices occur is unfit for EU membership. 'He was not only Ukrainian, but a European Union citizen,' Gulyás said, calling the lack of response from other EU member states 'shocking.' Hungary has proposed adding three Ukrainian military officials involved in the case to the EU sanctions list.
