{"id":3870,"date":"2021-03-11T17:55:33","date_gmt":"2021-03-11T12:25:33","guid":{"rendered":"https:\/\/www.finsafe.in\/financial-wellness\/?page_id=3870"},"modified":"2022-11-18T13:55:31","modified_gmt":"2022-11-18T08:25:31","slug":"feb-2021-monthly-updates","status":"publish","type":"page","link":"https:\/\/www.finsafe.in\/financial-wellness\/feb-2021-monthly-updates\/","title":{"rendered":"monthly updates"},"content":{"rendered":"\t\t
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6) In Feb 2021, the Budget was announced. Changes in taxation for ULIPs, and EPF was introduced. Also senior citizens above 75 years need not file Income Tax returns if they have only pension and interest income<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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BUDGET 2021<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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DEPOSIT INSURANCE<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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bank customers will be able get funds up to the deposit insurance limit of Rs 5 lakhs even if the bank is put under RBI’s watch,and it is regular operations are suspended<\/p>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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PROVIDENT FUND<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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– Employee contribution more than RS 2.5 lakhs per year towards EPF, VPf- the interest earned on such contribution would now be taxable.<\/p>\n\n

– would impact those whose mandatory contributions exceeds Rs 25 lakhs<\/p>\n\n

– would also impact those who voluntarily contribute above this limit through VPF.<\/p>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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INCOME TAX FILING<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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– Detailed pre-filled ITR forms along with capital gains and dividends to be available.<\/p>\n\n

-Time allowed to file belated or revised returns reduced by 3 month, to be filed now by 31st December instead of 31st March.<\/p>\n\n

-Reopening of tax asssesment cases(where there was evidence of tax evasion)has been reduced to three years from six years.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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ULIP<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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– ULIP’s with premium > Rs 25 lakhs will be subject\nto capital gains tax similar to equality mutual funds.<\/p>\n\n

– Claim amount received from such ULIPs on death of policy holder to remains tax exempt.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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Index<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Monthly Updates<\/strong><\/a><\/p>

Event Updates<\/strong><\/a><\/p>

Vlog<\/strong><\/a><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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The articles are from various news publications & some of the articles may need a subscription.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Disclaimer :<\/b> The purpose of the Training Materials and the resources is to encourage you to plan for \u00a0investments based on \u00a0goals and is solely meant for education purposes. There is no guarantee that \u00a0goals will be achieved. The workforce are advised to consult their investment \/ financial advisor, prior to taking any investment decisions. While, every care has been taken in preparing the Training Materials and the Documentation to ensure accuracy at the time of publication and creation, however, FINSAFE India Private Ltd assumes no responsibility for any errors, which despite all precautions may be found herein. Finsafe India Private Limited shall not be liable under, or in connection with:<\/p>\n\n

    \n \t
  • loss of income;<\/li>\n \t
  • loss of business profits or contracts;<\/li>\n \t
  • business interruption;<\/li>\n \t
  • loss of the use of money or anticipated savings<\/li>\n \t
  • loss of information<\/li>\n \t
  • loss of opportunity, goodwill or reputation;<\/li>\n \t
  • loss of, damage to or corruption of data; or\nany indirect or consequential loss or damage of any kind howsoever arising and whether caused<\/li>\n<\/ul>\n

    All intellectual property rights in the Training Materials and the resources (whether registered or not) anywhere in the world belong to Finsafe India Private Limited.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

    6) In Feb 2021, the Budget was announced. Changes in taxation for ULIPs, and EPF was introduced. Also senior citizens […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/www.finsafe.in\/financial-wellness\/wp-json\/wp\/v2\/pages\/3870"}],"collection":[{"href":"https:\/\/www.finsafe.in\/financial-wellness\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.finsafe.in\/financial-wellness\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.finsafe.in\/financial-wellness\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.finsafe.in\/financial-wellness\/wp-json\/wp\/v2\/comments?post=3870"}],"version-history":[{"count":10,"href":"https:\/\/www.finsafe.in\/financial-wellness\/wp-json\/wp\/v2\/pages\/3870\/revisions"}],"predecessor-version":[{"id":7829,"href":"https:\/\/www.finsafe.in\/financial-wellness\/wp-json\/wp\/v2\/pages\/3870\/revisions\/7829"}],"wp:attachment":[{"href":"https:\/\/www.finsafe.in\/financial-wellness\/wp-json\/wp\/v2\/media?parent=3870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}