PUBLIC SECTOR BANK employees are preparing for an unwelcome year-end surprise – a retrospective tax on perquisites to be paid this financial year.
While State Bank of India (SBI) and Bank of Baroda (BOB) will shoulder the tax liability on behalf of their employees, Punjab National Bank (PNB) and Union Bank of India have asked employees to pay the tax themselves. Meanwhile, other public sector banks are still on the fence, leaving their employees anxiously awaiting clarity on who will foot the bill.
To ease the financial strain, PNB is offering personal loans to employees, as individual tax liabilities range from ₹25,000 to ₹5 lakh. However, employees availing of this facility will have to again pay perquisite tax on this personal loan.
Diese Geschichte stammt aus der December 17, 2024-Ausgabe von Financial Express Pune.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der December 17, 2024-Ausgabe von Financial Express Pune.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
More Indians looking to fly biz class this holiday season
The number of Indians eyeing to fly business class has seen a sharp uptick this holiday season compared to last year. While the trend is more pronounced in international travel, travel agents and online platforms suggest that it is also emerging on many domestic routes.
Markets slump over 1%
● Investors' wealth down ₹4.92 lakh cr
EPFO weighs higher equity investments
● Labour ministry panel to look at ways to raise exposure
Indian firms turn to euro, yen swaps to trim borrowing cost
INDIAN FIRMS ARE opting for cross-currency swaps to convert part of their debt into the euro or the Japanese yen in order to trim borrowing costs, said bankers.
IIT-Madras to offer fine arts, culture courses
A FIRST for Indian Institutes of Technology (IITs), IIT-Madras on Tuesday said it would offer two supernumerary seats in each undergraduate programme to students who have achieved excellence in fine arts and culture, starting from the upcoming academic session.
Not even 2% work-linked higher education courses yet: Report
EDUCATION-INDUSTRY MISMATCH
The world's busiest airline routes in 2024 are largely in Asia
● Leisure continues to outshine corporate trips
Panel suggests LS elections template for entrance tests
DRAWING PARALLELS WITH the conduct of general elections, a high-level committee set up by the Education ministry and chaired by former ISRO chief K Radhakrishnan has proposed a similar framework for holding important national entrance tests to ensure transparency.
Siddique murder: Court sends accused to police custody till Dec 20
A SPECIAL COURT in Mumbai on Tuesday remanded five accused arrested in NCP leader Baba Siddique's murder case to police custody till December 20 after investigators said they need to interrogate them about an absconding accused and the weapons used in the crime.
DPIIT inks pact with HDFC Bank
THE DEPARTMENT FOR Promotion of Industry and Internal Trade (DPIIT) on Tuesday said it has inked pacts with HDFC Bank and Tally Solutions to help startups growth.
