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India.com
4 hours ago
- Business
- India.com
Key Financial Changes From June 1, 2025: From EPFO 3.0 To Form 16, New Credit Card Rules, FD Rates, Aadhaar And Income Tax Deadline
photoDetails english 2909387 Key Financial Changes In June 2025: As we approaches June 2025, a series of important financial changes will take effect from today June 1, and they may directly impact how you manage your day-to-day money matters. The new changes are expected to impact individuals and businesses actively engaged in the financial sector. These updates touch on several key areas, including credit card usage, ATM withdrawal charges, LPG prices, fixed deposit interest rates, and Aadhaar car updates. Adding further, the RBI is likely to announce an interest rate cut on June 6 during the monetary policy announcement. Updated:Jun 01, 2025, 02:09 PM IST ICICI Bank FD Rates 1 / 7 Several banks have revised their fixed deposit (FD) interest rates effective June 1. ICICI Bank has reduced rates by up to 20 basis points on select tenures, with senior citizens now earning a maximum of 7.35%. Similarly, Suryoday Small Finance Bank has cut its highest rate for senior citizens from 9.1% to 8.4 per cent on 5-year FDs. Depositors are advised to review the updated rates carefully and consider strategies like FD laddering or exploring small finance banks to secure better returns. Income Tax Deadline 2 / 7 Employers must issue Form 16, the TDS certificate for salaried employees, by June 15, 2025. This document is essential for filing income tax returns and verifying tax deductions for the financial year 2024–25. EPFO 3.0 Likely Coming Soon 3 / 7 The EPFO is expected to launch EPFO 3.0, allowing instant PF withdrawals via UPI and ATMs. Users will also be able to check their PF balance and transfer funds directly through UPI platforms for added convenience. Free Aadhaar Updates End June 14, 2025 4 / 7 Online Aadhaar updates—like address or identity proof—will remain free only until June 14, 2025. After this date, charges will apply. Users should log into the myAadhaar portal to ensure all personal details are accurate and up to date. New Credit Card Rules From June 1 5 / 7 From June 1, some banks may impose additional fees for utility and fuel payments via credit cards. Reward points may be capped, and international charges or auto-debit penalties revised. Customers should check updated policies with their banks. SEBI Revises Cut-off Timings For Overnight Mutual Funds 6 / 7 From June 1, 2025, SEBI has updated the transaction cut-off timings for overnight mutual funds to 3 PM for offline and 7 PM for online modes. Investors must complete transactions before these times to receive same-day processing. UPI Name Verification Mandatory from June 30 7 / 7 The NPCI has mandated that all UPI apps must display the verified name of the beneficiary from June 30. This change aims to prevent fraud and mistaken payments by improving transparency in peer-to-peer transactions.
Economic Times
6 hours ago
- Business
- Economic Times
Online gambling: Illegal sites target minors, vulnerable groups with fast bets, big payouts, reveals report
iStock Online gambling and betting (Image for representation) Aggressive financial incentives and rapid-fire betting products offered by illegal online gambling platforms are drawing vulnerable users, including minors and those at risk of addiction, into high-risk gambling at unprecedented rates. These platforms, unburdened by the 28 per cent GST and TDS deductions that legitimate operators must levy, lure users with more attractive payouts and instant-gratification games banned on regulated sites, reveals a report. The report estimates that annual deposits are nearing USD 100 billion in these illegal platforms. The report, "Fixing the Odds: A Policy Blueprint for Curbing Illegal Online Gambling in India," published by CUTS International, showed that illegal gambling operators are exploiting regulatory loopholes to target young adults, high spenders, and individuals especially susceptible to gambling harms. CUTS International's analysis estimates over 5.4 billion visits to the top 15 illegal gambling platforms and their mirror sites in just one year, underscoring the scale of the problem. "The extent of the problem can be gauged from the report's analysis - over 5.4 billion visits to the top 15 illegal gambling platforms across 40 of their mirror sites took place between April 2024 and March 2025. Top platforms such as 1xBet, Parimatch, Stake, Fairplay, and BateryBet consistently registered high traffic volumes and broad user reach. "Traffic share for Parimatch for the month of March 2025 even outranked widely used platforms such as and the report said. Unlike slower, skill-based games permitted on licensed platforms, illegal sites feature fast-paced betting products that enable multiple wagers within minutes -- an approach that research links to higher rates of addictive behaviour and financial loss among users. These platforms also bypass consumer protection measures by requiring little to no documentation, making it easier for minors and vulnerable individuals to participate. The report notes that aggressive marketing, including surrogate advertising and extensive use of private messaging and outdoor campaigns, further amplifies the reach of these sites. "Over 66 per cent of total traffic, amounting to more than 3.5 billion visits (between April 2024 and March 2025), are through direct traffic, meaning users are manually entering URLs, using bookmarks, or copying links from private channels," the report said. The allure of illegal gambling platforms stems from their ease of access and the intense, high-risk environments they create. Sites like Stake and 1xBet employ advanced psychological strategies in their design and enable riskier forms of betting, heightening the sense of excitement for users. These adrenaline-charged settings are especially appealing to young people who seek thrills and those prone to impulsive behaviour, which significantly raises their chances of experiencing gambling-related problems. Further, illegal gambling operators continue to facilitate the movement of funds by employing rapidly evolving tactics and exploiting loopholes and vulnerabilities in India's payment infrastructure. Such tactics include extensive use of the United Payments Interface (UPI) system, mule accounts, and mobile APKs. Ministry of Finance on March 22, 2025, revealed intensified enforcement against offshore online entities, with nearly 700 under investigation. So far, 357 illegal or non-compliant websites/URLs have been blocked and almost 2,000 bank accounts, apart from other robust initiatives.
Time of India
6 hours ago
- Business
- Time of India
Online gambling: Illegal sites target minors, vulnerable groups with fast bets, big payouts, reveals report
Aggressive financial incentives and rapid-fire betting products offered by illegal online gambling platforms are drawing vulnerable users, including minors and those at risk of addiction, into high-risk gambling at unprecedented rates. These platforms, unburdened by the 28 per cent GST and TDS deductions that legitimate operators must levy, lure users with more attractive payouts and instant-gratification games banned on regulated sites, reveals a report. The report estimates that annual deposits are nearing USD 100 billion in these illegal platforms. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Secure Your Child's Future with Strong English Fluency Planet Spark Learn More Undo The report, "Fixing the Odds: A Policy Blueprint for Curbing Illegal Online Gambling in India," published by CUTS International, showed that illegal gambling operators are exploiting regulatory loopholes to target young adults, high spenders, and individuals especially susceptible to gambling harms. CUTS International's analysis estimates over 5.4 billion visits to the top 15 illegal gambling platforms and their mirror sites in just one year, underscoring the scale of the problem. Live Events "The extent of the problem can be gauged from the report's analysis - over 5.4 billion visits to the top 15 illegal gambling platforms across 40 of their mirror sites took place between April 2024 and March 2025. Top platforms such as 1xBet, Parimatch, Stake, Fairplay, and BateryBet consistently registered high traffic volumes and broad user reach. "Traffic share for Parimatch for the month of March 2025 even outranked widely used platforms such as and the report said. Unlike slower, skill-based games permitted on licensed platforms, illegal sites feature fast-paced betting products that enable multiple wagers within minutes -- an approach that research links to higher rates of addictive behaviour and financial loss among users. These platforms also bypass consumer protection measures by requiring little to no documentation, making it easier for minors and vulnerable individuals to participate. The report notes that aggressive marketing, including surrogate advertising and extensive use of private messaging and outdoor campaigns, further amplifies the reach of these sites. "Over 66 per cent of total traffic, amounting to more than 3.5 billion visits (between April 2024 and March 2025), are through direct traffic, meaning users are manually entering URLs, using bookmarks, or copying links from private channels," the report said. The allure of illegal gambling platforms stems from their ease of access and the intense, high-risk environments they create. Sites like Stake and 1xBet employ advanced psychological strategies in their design and enable riskier forms of betting, heightening the sense of excitement for users. These adrenaline-charged settings are especially appealing to young people who seek thrills and those prone to impulsive behaviour, which significantly raises their chances of experiencing gambling-related problems. Further, illegal gambling operators continue to facilitate the movement of funds by employing rapidly evolving tactics and exploiting loopholes and vulnerabilities in India's payment infrastructure. Such tactics include extensive use of the United Payments Interface (UPI) system, mule accounts, and mobile APKs. Ministry of Finance on March 22, 2025, revealed intensified enforcement against offshore online entities, with nearly 700 under investigation. So far, 357 illegal or non-compliant websites/URLs have been blocked and almost 2,000 bank accounts, apart from other robust initiatives.
Mint
6 hours ago
- Business
- Mint
Illegal sites target minors, vulnerable groups with fast bets, big payouts: Report
New Delhi, Jun 1 (PTI) Aggressive financial incentives and rapid-fire betting products offered by illegal online gambling platforms are drawing vulnerable users, including minors and those at risk of addiction, into high-risk gambling at unprecedented rates. These platforms, unburdened by the 28 per cent GST and TDS deductions that legitimate operators must levy, lure users with more attractive payouts and instant-gratification games banned on regulated sites, reveals a report. The report estimates that annual deposits are nearing USD 100 billion in these illegal platforms. The report, 'Fixing the Odds: A Policy Blueprint for Curbing Illegal Online Gambling in India,' published by CUTS International, showed that illegal gambling operators are exploiting regulatory loopholes to target young adults, high spenders, and individuals especially susceptible to gambling harms. CUTS International's analysis estimates over 5.4 billion visits to the top 15 illegal gambling platforms and their mirror sites in just one year, underscoring the scale of the problem. "The extent of the problem can be gauged from the report's analysis – over 5.4 billion visits to the top 15 illegal gambling platforms across 40 of their mirror sites took place between April 2024 and March 2025. Top platforms such as 1xBet, Parimatch, Stake, Fairplay, and BateryBet consistently registered high traffic volumes and broad user reach. "Traffic share for Parimatch for the month of March 2025 even outranked widely used platforms such as and the report said. Unlike slower, skill-based games permitted on licensed platforms, illegal sites feature fast-paced betting products that enable multiple wagers within minutes -- an approach that research links to higher rates of addictive behaviour and financial loss among users. These platforms also bypass consumer protection measures by requiring little to no documentation, making it easier for minors and vulnerable individuals to participate. The report notes that aggressive marketing, including surrogate advertising and extensive use of private messaging and outdoor campaigns, further amplifies the reach of these sites. "Over 66 per cent of total traffic, amounting to more than 3.5 billion visits (between April 2024 and March 2025), are through direct traffic, meaning users are manually entering URLs, using bookmarks, or copying links from private channels," the report said. The allure of illegal gambling platforms stems from their ease of access and the intense, high-risk environments they create. Sites like Stake and 1xBet employ advanced psychological strategies in their design and enable riskier forms of betting, heightening the sense of excitement for users. These adrenaline-charged settings are especially appealing to young people who seek thrills and those prone to impulsive behaviour, which significantly raises their chances of experiencing gambling-related problems. Further, illegal gambling operators continue to facilitate the movement of funds by employing rapidly evolving tactics and exploiting loopholes and vulnerabilities in India's payment infrastructure. Such tactics include extensive use of the United Payments Interface (UPI) system, mule accounts, and mobile APKs. Ministry of Finance on March 22, 2025, revealed intensified enforcement against offshore online entities, with nearly 700 under investigation. So far, 357 illegal or non-compliant websites/URLs have been blocked and almost 2,000 bank accounts, apart from other robust initiatives.
NDTV
6 hours ago
- Business
- NDTV
How To File ITR If You Have Multiple Incomes? Simplified Steps
The Income Tax (IT) Department has started the process to file the income tax return (ITR) for the financial year 2024-25, corresponding to the assessment year 2025-26. While filing ITR is relatively easier for individuals with only one source of income, those with multiple streams may have a hard time keeping up with the regulations. As the ITR filing window is open, here is how taxpayers with income from multiple sources should go about their business: Gather all documents: This should be 101, but gathering all the documents is the first step. Collect the relevant salary slips, rental agreements, investment receipts and Form 26 AS. The latter is important for Tax Deducted at Source (TDS) and tax Collected at Source (TCS) claims during the financial year. Correct forms: Once the documents have been collected, the next step is to choose the correct ITR form. ITR 3 and ITR 4 are the two forms meant for taxpayers with income from business and other professions. Meanwhile, ITR-4 is for taxpayers who opt for presumptive business income. Assess total income to calculate tax: Income and tax calculation involves determining earnings from each source and aggregating them to determine your total taxable income. Various income sources may carry different tax implications. Deductions and exemptions: Make sure to consider potential deductions and exemptions that could lower your tax burden. The deductions will largely depend on the tax regime (old or new) you may have opted for. ITR deadline extended Earlier this week, the Income Tax Department extended the date to file the ITR to September 15 from the earlier deadline of July 31 to enable a smoother filing experience for taxpayers. ITR filing: Key deadlines to remember Individuals and non-audit cases: September 15, 2025 Audited Accounts (business or professionals): October 31, 2025 Taxpayers requiring transfer pricing cases (Form 3CEB): November 30, 2025 Belated or revised return: December 31, 2025 Failure to file the ITR may result in a notice from the Income Tax Department. If your reply is not accepted, it could lead to a penalty or in some cases, imprisonment.
