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Time of India
a day ago
- Business
- Time of India
Details must to claim exemptions, deductions in new ITR
Ahmedabad: Taxpayers, especially those under the old regime, will need to provide comprehensive information while claiming exemptions and deductions in their income tax return (ITR) for the assessment year 2025-26. The ITR utility is now available, and tax experts have stated that submitting detailed information has become compulsory. This includes insurance company names, policy numbers, housing loan particulars, actual house rent allowance (HRA), and rent payments. Additional requirements include information on landlords for HRA claims, registration numbers of political parties for donation deductions, and other relevant details. For medical treatment deductions, specific ailment details are now required. Tax experts indicate that this unprecedented requirement for detailed information aims to prevent fraudulent deduction claims. International tax expert Mukesh Patel said, "This year, the income tax department made it mandatory to disclose various details for all the exemptions and deductions, especially under the old regime. The department aims to stop fake deduction claims. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Banheiro escorregadio? Barra de apoio vira febre no Brasil Evite quedas e escorregões Saiba Mais Undo Based on the details submitted in the ITR by the taxpayers, the department will cross-check such deductions." With the ITR filing deadline extended to Sep 15, taxpayers must collect all necessary documentation. Chartered accountant Karim Lakhani said, "For claiming HRA exemption, the taxpayers will have to give details of the place of work, actual HRA received, actual rent paid, apart from landlord details. For claiming a deduction for insurance premiums under section 80C, the taxpayer is required to submit the policy number or receipt number. Similarly, for the deduction for PPF account, the taxpayer will have to mention the account number in the return. Also, for claiming a deduction for health insurance, the name of the insurance company and policy number must be submitted." Tax authorities have noticed numerous instances of false deduction claims due to minimal documentation requirements. According to experts, taxpayers should gather all the required information for filing ITR so they can claim various deductions and exemptions easily. Box: Additional details to be provided For HRA exemption: The taxpayer will be required to provide details about the actual HRA received and the house rent paid Under Section 80C: The taxpayer must provide the document or receipt number of the insurance policy and the PPF account number Under Section 80D: The name of the health insurance company and the policy number must be provided For home loan interest deduction: The taxpayer will need to give details of the lender, loan particulars, and the outstanding amount Treatment of diseases: To claim a deduction for the treatment of a specific disease, details of the disease will have to be provided
Express Tribune
a day ago
- Sport
- Express Tribune
Padel Stars, TRIBS clinch Padel Ranking Cup titles
Mayor Karachi Barrister Murtaza Wahab gives winner's cheque to Super Striker team for winning the Boys Under-14 title at the Pak Padel Ranking Cup at Sport-on. President PPF Muhammad Mateen, CEO Mudassar Razak and other officials are also seen. PHOTO: PPF Padel Star and TRIBS outplayed their respective rivals in thrilling contests to clinch the men and women titles in the exciting Pakistan Padel Ranking Cup 2025 that concluded at Sport on in Karachi. Super Striker bagged the Boys U-14 title. Mayor Karachi, Barrister Murtaza Wahab was the chief guest at the concluding ceremony and gave away the trophies, certificates and cash prizes to the winning teams. President, Pakistan Padel Federation, Muhammad Mateen, CEO, Mudassar Razak, Vice President, Syed Rehanuddin, Secretary General, Quratulain, Finance Secretary, Karima Bano, Secretary General, Pakistan Throwball Federation, Maqbool Ahmed, Sohail Vohra of Sport On and a large number of dignitaries and sports enthusiasts were also present on the occasion. In the mens category, Padel Star comprising brilliant duo of Aamil and Murtazain, emerged victorious in a gripping final against Katch Brothers which were represented by M. Azhar & Nafees Yaqoob. Padel Star won by 2-0 (6-3, 7-6) to claim the championship title. In the third place match, Tigers Team (Rayyan Younas & Abdullah) secured bronze via walkover (1-0) against Gar Gala Team (Farhan Mustafa & Abdul Rehman). In the women's category, TRIBS team comprising the skillful pair of Natalia and Natasha dominated the final against MUV team which was represented by Mehak Tehrani & Saira Umer. TRIBS won 2-0 (6-1, 8-6). The third place match saw Control X Power Team (Safina & Neha Khan) triumph over Sister Squad (Sher Beg & Saleena Beg) by 2-0 (7-5, 6-3) victory. In the Boys Under-14 category, the talented Super Striker Team (Azhar & Mustafa) outplayed Allawala Team (Ansarullah & Azhar Allawala) in the final to win by 2-0 (7-5, 6-0). The third place match was a thrilling encounter, with A2 Brothers (Arsh & Azan) edging past Shaheen Team (M. Bin Haris & Rayyan) by 2-1 (7-5, 5-7, 7-5). The winning teams received a handsome prizemoney of Rs 100,000 along with the trophies while the runner-up teams received Rs 50,000 with trophies. Third position holders received Rs 25,000 along with the trophies. The tournament was played under the auspices of Pakistan Padel Federation (PPF) and under the umbrella of the International Padel Federation (FIP), Padel Asia in collaboration with the Sindh Padel Association and Sport On Clifton, Karachi.
The Hindu
2 days ago
- Business
- The Hindu
Ask Us: On investments
Q I am a retiree and started a Post Office PPF account in November 2020. I have ₹3 lakh in the account and am badly in need of money for medical emergency. Can I close my account and get back the money now? Raja Thilagar A We are sorry to hear about your situation. Public Provident Fund (PPF) account comes with a lock-in period of 15 years, i.e. account can be closed only after the completion of 15 years under normal circumstances. It's not advisable to open a PPF account at the fag end of your career. In the Post Office PPF account, a subscriber can withdraw only after the completion of five financial years excluding the account opening. In your case, you have opened in November 2020 (FY20-21), withdrawal can be made only during FY2026-27, i.e. after completion of March 31, 2026. Further, only 50% of the balance credit at the end of the fourth preceding year could be withdrawn. Premature closure is allowed only after the completion of the fifth calendar year from the end of the year in which the account was opened. The closure is subject to conditions such as life-threatening disease of account holder, spouse or dependent children; higher education of account holder or dependent children. It is also allowed when there is a change in the resident status of an account holder (i.e., he/she became NRI). However, 1% interest shall be deducted for the same. Though you have a medical emergency, it is likely impossible to close your PPF account prematurely or withdraw your corpus. However, a post office official said, 'If you have valid medical certificates and that the medical condition (of self or any of the family member) is life-threatening, you can place a request to the Divisional Head of your branch through your branch head and try explaining your crisis. However, it's not a guarantee that your account could be closed prematurely.' Q I passed out from college recently and am working in a Central government PSU. My father is into a small business and I have no liabilities. How should I start investing for long-term? Also advise me on health insurance for my family. Ansh Gupta A You are considerably young and have enough time for growth prospects, be it in direct equity investing or through mutual funds. First, you can start investing in mutual funds (MFs). Choose any Index fund (passive) that tracks Nifty 50 or Sensex 30, which are comparatively (not completely) safer. However, choose only direct schemes but not regular schemes that are offered by distributors or brokers. When compared with regular schemes, the expense ratio for direct schemes is lower. Either you can start a Systematic Investment Plan (SIP) or you can invest in a lumpsum plan. SIP is a monthly commitment whereas a lumpsum is a one-time investment plan. You can start investing a minimum of ₹500 per month (some MF schemes offer lower amount plans also) in any passive fund or as a one-time lumpsum, if you get any incentive or bonus. Since you have no liability, you can start a SIP of ₹6,000 per month. Keep track of the performance of SIP investment for two to three years. Once you have understood how market movements impact your mutual fund performance, you can consider investing in other active mutual funds and also start investing in equity markets, that is stocks. For a decent health insurance coverage for you and your family, take a family floater policy with a sum insured (SI) of up to ₹10 lakh at an affordable premium. Important criteria to consider in the policy are list of network hospitals for cashless treatment, higher claim settlement ratio of insurance companies, cap on room rents, sub-limits on treatments, waiting periods for pre-existing diseases, pre- and post-hospitalisation coverage period, no-claim bonus benefits, inclusion of annual health check-up facility, co-payment clauses, coverage for daycare procedures and life-long renewability. (The writer is an NISM & CRISIL-certified wealth manager)
Yahoo
2 days ago
- Business
- Yahoo
Pan-Africanists Unite: Preparations Begin for 80th Anniversary of Historic Manchester Congress
ACCRA, Ghana, May 29, 2025 /PRNewswire/ -- The Pan-African Progressive Front (PPF), in collaboration with the Ghana Socialist Movement and Pan Africanism Today, convened a landmark online conference to initiate discussions and preparations for the upcoming 80th anniversary of the pivotal Fifth Pan-African Congress held in Manchester in 1945. Bringing together more than sixty influential pan-Africanists from 32 countries—including representatives from the USA and Brazil—the event underscored the enduring legacy and urgency of pan-African unity, decolonization, and the struggle against imperialism. The conference opened with Albie Walls of the All-African People's Revolutionary Party, who emphasized the far-reaching impact of the Manchester Congress on Africa's liberation movements and called for renewed clarity and action toward unifying progressive forces across the continent. Roland Diagne (FERNET, Senegal) highlighted the ongoing relevance of anti-neocolonial resolutions adopted at the Manchester Congress, noting the resurgence of patriotism and demands for true sovereignty, especially in the Sahel region. Diagne voiced concerns about external military interventions and stressed the need for ECOWAS to return to its foundational mission. Kwesi Pratt Jr., a journalist and member of the PPF organizing committee, presented a strategic roadmap for the anniversary celebration. He proposed the establishment of a central committee and specialized commissions on trade union issues, women's rights, and youth engagement, as well as mechanisms for mass mobilization and political power analysis. The meeting also featured voices from key organizations: Imani Na Umoja (African Party for the Independence of Guinea and Cape Verde) advocated for a comprehensive congress to unite organizations pursuing shared goals. Ouzayrou Mamane (Pan-African Movement for Reparations, Justice and Restoration of Historical Memory) insisted that reparations for former colonies are vital for economic independence and historical justice. Amina Hamani (MORFEPAN, Niger) urged transforming pan-Africanism from a symbol into an actionable tool for achieving full independence, amid renewed foreign interference. Saddam Alktif (CODESA) emphasized the unresolved crisis in Western Sahara, stating that pan-Africanism's objectives remain incomplete while occupation persists. Humphrey Quaye (PPF) reiterated the organization's commitment to fighting imperialism and neocolonialism, and called for collective action. Eighteen delegates contributed to a lively debate, culminating in Albie Walls' closing remarks and the formation of a central organizing committee. The PPF announced plans for further meetings and intensified coordination to ensure the 80th anniversary serves as a catalyst for real, unified progress in Africa's ongoing liberation and development. View original content: SOURCE Pan-African Progressive Front Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
Express Tribune
3 days ago
- Sport
- Express Tribune
Pakistan Padel Ranking Cup 2025 begins
Participating players of the Pakistan Padel Ranking Cup 2025 are seen with chief guest DIG Traffic Police Syed Pir Muhammad Shah, Dr Asad Ishaque and top PPF officials Mohammad Mateen, Mudassar Razak and others at Sport On, Clifton on Friday evening. PHOTO: PPF The Pakistan Padel Ranking Cup 2025 commenced here amid fanfare and excitement at Sport On, Clifton on Friday under the auspices of Pakistan Padel Federation. The PPF has organised the grand event under the umbrella of International Padel Federation and Padel Asia, in collaboration with Sindh Padel Association and Sport On Karachi. DIG Traffic Police and Chairman, Sindh Police Sports Board, Syed Pir Muhammad Shah was the chief guest and inaugurated the two-day event. The competing players are taking part in three categories, including men (24 teams) women (8 teams) and boys under-14 (12 teams). On the first day, in the women's category Tribe edged past MUV by 6-5 while Strikers overcame stiff challenge from Padel Pals to win 6-5. In other women's matches, Control X beat Padel Twins by 6-0, the Sisters Squad beat Gilgit Baltistan by 6-0 while Tribe beat Padel Pals by 6-2 and MUV beat Strikers by 6-3, Control X Power outplayed Sister Squad by 6-0 while Padel Twins beat Gilgit Baltistan by 6-1. In the mens event, Allawala outclassed Volley Vipers by 6-0 while Sport On beat Hoppers by 6-1 and Balagam cruised past Padel Star by 6-0. In the other mens contests, Katch Brothers edged past Faizan Brothers by 6-5 in a thrilling clash while Team Parallel proved too good for Lobbing Linda to win 6-2. Maverick beat Lobbing Lords by 6-3. Later, Tigers beat GPC by 6-3, Zinars beat IC Tigers by 6-5 and Gar Gala easily overcame Padel Hawks by 6-1. Padel Master also outplayed Super Pibes by 6-0 in a lop-sided clash. Close matches were seen in the Boys Under-14 category where Acers beat Faisalabad Panther by 6-3 and Shaheens beat Echo Smash by 6-2. In the other Boys under-14 matches, Super Pumped outplayed Pardesi X by 6-1 while Allawala got the better of A2 Brothers by 6-0. Acers beat Young Star by 6-2 while a close match was seen when Hayya Eizer just managed to go past Echo Smash by 6-4. Also present on the occasion were top PPF officials and other dignitaries including Dr. Asad Ishaque, Director Sindh Sports Board, Muhammad Mateen, President PPF, Mudassar Razak CEO PPF, Rehanuddin VP PPF, Farid Ali DSO South, Hajra Nawab, DSO Central, DSP Saeed Ahmed Arain, Deputy Secretary, Sindh Police Sports Board and Rehan Zia.
