Latest news with #lump-sum
India.com
5 days ago
- Business
- India.com
Good news for all EPFO pensioners! govt, private employees to get benefit as per new Income Tax Bill 2025 of…
The government has given a major gift to pensioners. As per the Income Tax Bill 2025 passed in the Lok Sabha, any lump-sum (commuted) pension from a government-approved pension fund will no longer be taxed. Earlier, this exemption was available only to government employees, but now private sector employees who have invested in any recognised pension fund (like the LIC Pension Fund) will also be eligible for the benefit. What Is A Commuted Pension? A commuted pension means receiving a one-time lump sum in place of monthly pension installments. For example, if a pensioner wants to receive the next 10 years of pension in one payment, it is called a commuted pension. This gives the retiree immediate access to a large amount, which can be used for personal needs or investments. Who Is Eligible In A New Scheme? Under the new provisions: All government employees, including defence personnel and employees of public sector undertakings are eligible. Private sector employees whose employers do not operate a pension scheme but who have themselves contributed to an approved pension fund. What Has Changed Now? Under the existing income tax law, the lump-sum (commuted) pension received by government employees was completely tax-free, while for non-government pensioners, the amount was fully taxable. The Lok Sabha's Select Committee called this a discriminatory tax policy and recommended reforms. The 2025 Bill will now remove this disparity and have granted equal tax exemption to all eligible pensioners. Many people in the country voluntarily invest in recognised pension schemes but if they are not government employees, they do not get tax exemption. This amendment will not only reduce the tax burden but also encourage more people to invest in pension funds for retirement planning.
&w=3840&q=100)
Business Standard
5 days ago
- Business
- Business Standard
Nuvama upbeat on AMCs, RTAs; backs HDFC AMC, Nippon Life, KFin; here's why
Nuvama on HDFC AMC, Nippon Life, KFin: Active equity net inflows in July 2025 surged 80 per cent month-on-month (M-o-M) to an all-time high of ₹56,540 crore, aided by strong systematic investment plan (SIP) and lump-sum contributions, according to Nuvama Institutional Equities. The brokerage expects asset management companies (AMCs) and registrar and transfer agents (RTAs) to post a recovery in quarterly earnings, supported by steady inflows and stable equity markets. Its top sector picks are HDFC Asset Management Company (target price ₹6,530), Nippon Life India Asset Management (₹1,010) and KFin Technologies (₹1,540). 'We reckon AMCs and RTAs shall report a recovery in Q-o-Q earnings growth driven by steady inflows led by SIPs and stable equity markets. Our top picks in the sector are HDFC AMC (Target: ₹6,530), NAM (Target: ₹1,010) and KFin Technologies (Target: ₹1,540),' analysts at Nuvama said, in a note. Track Stock Market LIVE Updates The SIP inflows climbed 4.4 per cent M-o-M to ₹28,460 crore, while lump-sum inflows surged 5.8 times to ₹28,070 crore. Existing schemes attracted ₹45,650 crore (+49.8 per cent M-o-M), and 12 active equity new fund offers (NFOs) garnered ₹10,880 crore (+10.7x M-o-M). For FY26 to date, the industry has reported active equity inflows of ₹1.39 trillion, down 10.1 per cent year-on-year, with SIP and lump-sum inflows at ₹1.09 trillion and ₹30,050 crore, respectively. By category, large- and mid-cap funds captured 21.8 per cent of July's active equity inflows, flexi-cap funds 13.5 per cent, small-cap funds 11.5 per cent, and thematic funds 16.7 per cent. However, weak market performance – with the Nifty 50 down 2.9 per cent M-o-M, and the Nifty Midcap 150 and Nifty Smallcap 250 indices down 2.9 per cent and 3.7 per cent, respectively – pulled total active equity assets under management (AUM) down 0.4 per cent M-o-M to ₹41.3 trillion. Passive funds (ETFs and index funds, excluding overseas fund-of-funds and gold) recorded net inflows of ₹8,260 crore in July. Passive inflows via NFOs declined 19.2 per cent M-o-M to ₹580 crore despite the launch of 13 NFOs, compared with 15 in June. Gold and overseas fund-of-funds attracted ₹1,450 crore. Arbitrage funds saw net inflows of ₹7,300 crore, down 53.2 per cent M-o-M. Debt and liquid schemes also registered strong M-o-Mentum. Debt funds recorded inflows of ₹13,910 crore, while liquid schemes logged ₹92,790 crore in July. That said, analysts at Nuvama believe the robust flow trend, particularly through SIPs, coupled with resilient market participation, will support earnings growth for key players in the AMC and RTA space, even amid short-term market volatility.
Business Recorder
21-06-2025
- Business
- Business Recorder
Streetlight meters: Punjab seeks functionality verification survey
ISLAMABAD: The government of Punjab has requested a comprehensive survey to verify the functionality of existing streetlight meters and to ensure the installation of separate energy meters for all unmetered streetlight connections maintained by local governments. The province has also called for a special electricity tariff for streetlights, citing inflated billing practices by distribution companies (Discos). According to the Secretary for Local Governments, Punjab, there are currently 229 Local Governments providing municipal services across the province. Under Section 21(1)(s)(iii) of the Punjab Local Government Act, 2022, the responsibility for the installation and maintenance of street lighting lies with these Local Governments. Despite facing limited financial resources, Local Governments have been striving to maintain street lighting infrastructure. However, the rising cost of electricity—exacerbated by inflated bills—has made it increasingly difficult to sustain these essential services. A major contributing factor to these high bills is the prevalence of unmetered streetlight connections. Currently, Punjab has a total of 177,495 streetlights, of which 99,288 are metered while 78,207 remain unmetered. Due to the lack of proper metering, Discos often bill Local Governments based on average consumption or lump-sum estimates. This results in payments for electricity that is not actually consumed, placing a heavy financial burden on already stretched municipal budgets. Audit reports from the Municipal Corporations of Rawalpindi and Sialkot, presented before the Public Accounts Committee-III (PAC-III) of the Punjab Assembly, flagged significant overpayments. The audit cited unjustified payments of Rs. 69.048 million in Rawalpindi and Rs. 70.667 million in Sialkot for streetlight electricity bills. After reviewing the audit findings and the responses of the concerned departments, PAC-III issued the following directive to the Local Government and Community Development Department: 'The Committee directed the Administrative Department to prepare a comprehensive reference for submission to the Federal Government, emphasizing the rationalization of electricity tariffs, installation of separate meters, and exploration of alternate solutions.' In a letter addressed to the Secretary of the Power Division, the Secretary for Local Governments, Punjab, requested that in light of the PAC directions, necessary instructions be issued to all relevant Discos in Punjab to: (i) conduct a comprehensive survey to verify the functionality of all already-installed streetlight meters and ;(ii) expedite the installation of separate energy meters for all unmetered streetlight connections maintained by Local Governments. The letter also urges to take up the matter with the National Electric Power Regulatory Authority (Nepra) to introduce a special electricity tariff for streetlights, given that these services constitute a vital public utility. Copyright Business Recorder, 2025
Time of India
12-05-2025
- Politics
- Time of India
Parents fume over ‘late fees' despite advance payments
Hyderabad: Many parents are outraged as schools slap them with daily late fees — even when fees are paid for an entire term in advance. With no option to pay monthly, families are questioning why they're being penalised for minor delays in lump-sum payments made just three times a argue that its unreasonable to charge a per-day late fee. Schools demand full-term fees upfront, yet charge Rs 20 or more per day as a late fee if the payment is even slightly delayed — leaving parents feeling cornered."My child's school set April 15 as the last date to pay the first term fee. I paid just 20 days later and had to cough up Rs 400 in late fees," said a parent from a CBSE school in Himayatnagar. "We're already paying fees for four months in advance, and now we're being penalised too. It seems like schools are finding new ways to exploit parents." Another parent, whose child goes to a school in SR Nagar, said he too had to pay a late fee for about 45 days. "I was not given any other option. The school refused to accept the fee unless I paid the late charges," he parents believe schools are taking advantage of the lack of fee regulation in Telangana. "They increase fees every year, charge arbitrarily under various heads, and now add late fees to the mix," said Venkat Sainath K, organising secretary of the Hyderabad School Parents' Association (HSPA). "The govt must act. We need a regulatory commission that clearly defines what schools can charge."Meanwhile, some school principals defended the charges, claiming the late fee ensures financial discipline. But the Telangana Education Commission (TEC) doesn't agree. "Schools cannot arbitrarily collect late fees. This is unacceptable," said PL Vishweshwar Rao, member of TEC. "If we receive a formal complaint against any school, the commission will take action." Will introduce fee regulation: PanelHyderabad: The cabinet subcommittee tasked with implementing the Right to Education and fee regulation in Telangana met with parents and school managements on Monday. The committee reiterated its commitment to introducing a school fee regulatory framework in the state. "We've briefed the committee about the situation. Schools have increased fees by nearly 60% this year, anticipating that regulations might finally come into force. We hope the govt acts swiftly now," said a member of the Hyderabad School Parents' Association (HSPA).
