Preeti Motiani

Synopsis Hallmarking on gold is not mandatory: The jewellers are required to sell hallmarked gold jewellery as per law. However, certain exceptions are provided under the BIS rules for hallmarking gold jewellery to make it easier for jewelers. This common type of gold jewellery is often bought by people for wedding purposes but is not required to be hallmarked as per BIS FAQs. Lessons from the Grandmasters

New gold taxation rules: Capital gains tax rules on gold have changed from July 23, 2024. However, the new rules are applicable to physical gold and gold jewellery and not to gold mutual funds and gold ETFs. Know the new income tax rules for taxation of gold before buying or investing this Diwali.

Save LTCG tax on equity: To finance the down payment for buying a house, many people sell their assets such as equity shares, equity mutual funds, gold, etc. The income tax laws allow taxpayers to claim tax exemption on the long-term capital gains arising from the sale of equity shares and other capital assets.

Synopsis NPS, GPF of govt employees: Currently, government employees are mandatorily required to make a contribution to the NPS account to save for their retirement and get pension. However, there are certain government employees that can save for retirement via GPF, NPS as well as get old pension scheme benefits as well.

EPFO wage ceiling limit hiked: According to The Economic Times report, the centre is planning to hike the EPFO wage ceiling limit to Rs 21,000 per month from Rs 15,000 per month currently. If the proposal goes through, this will be the third hike in the wage ceiling limit. A hike in the EPFO wage ceiling limit will impact salaried employees in various ways.

PAN-Aadhaar linking last date: Is it true that if your PAN is not linked with Aadhaar by December 31, 2024? There are numerous reports online suggesting that if PAN is not linked with Aadhaar by December 31, 2024, then PAN will become deactivated. Know the correct last date and how to link PAN with Aadhaar.

November 15, 2024 ITR filing deadline: The CBDT has not extended the deadline to file income tax return (ITR) for taxpayers whose accounts are required to be audited from the current deadline of November 15, 2024. However, the income tax laws allow the taxpayer to still file ITR (also known as belated ITR) as well.

Synopsis Maharashtra Assembly election 2024 today: The Maharashtra government has declared a public holiday today (Wednesday, November 20, 2024) throughout the state on account of Assembly elections. All banks, government offices and other related organisations will be closed today. However, online transactions can be carried out as usual despite bank branches being closed. Today, November 20, 2024, is a voting day in the State of Maharashtra. The citizens of the state will visit their nearest polling booth to cast their vote so that a new government can be formed. To encourage a higher number of voting, the Maharashtra government has declared a public holiday throughout the state. Due to this, government offices and other associated organisations will be closed. Will banks be open or closed on November 20, 2024? According to the Reserve Bank of India (RBI) website, the banks will remain closed on November 20, 2024, in Maharashtra on account of the Vidhan Sabha elections 2024 in the state. How to do banking transactions as bank branches are closed in Maharashtra All the bank branches will remain closed in Maharashtra today, hence, banking transactions via physical visit cannot be done. However, bank customers can still do banking transactions online. This can be done if they have signed up for the Net banking facility and mobile banking facility of their banks. Furthermore, individuals can also use their debit cards, credit cards and UPI to make payments online wherever possible. Are banks open in Maharashtra on Saturday, November 23, 2024? As banks are closed on November 23, 2024, will the bank branches open or close this Saturday i.e., on November 23, 2024? November 23, 2024, is the fourth Saturday of November month. Hence, banks will be closed this Saturday as well. Hence, if banking work needs to be done this week by visiting a bank branch, then the same can be done either on Thursday (November 21, 2024) or Friday (November 22, 2024). November bank holidays According to the RBI website, the bank branches in Maharashtra will remain closed for four days. These are November 1, 2, 15 and 20. Apart from these days, the bank branches will also remain closed on Sundays, the second and fourth Saturdays of November. When is Maharashtra Assembly Elections Voting Day? The people of Maharashtra will cast their vote today i.e., on Wednesday, November 20, 2024. The election results will be announced on Saturday, November 23, 2024. RBI November Holiday list Banks will be closed during Diwali Amavasya (Laxmi Pujan), Kut festival, Kannada Rajyothsava, Balipadyami, Vikram Samvant New Year Day, Chhath (Evening Arghya), Chhath (Morning Arghya)/Wangala Festival, Egaas-Bagwaal, Guru Nanak Jayanti/Karthika Purnima/Rahas Purnima, Kanakadasa Jayanti, Seng Kutsnem, according to the central bank's website. Bank holidays in November 2024 Nov-24 Agartala • Ahmedabad • Aizawl • Belapur • • • • Bengaluru • • • Bhopal • • Bhubaneswar • Chandigarh • Chennai Dehradun • • • • Gangtok • • Guwahati • Hyderabad - Andhra Pradesh Hyderabad - Telangana • Imphal • Itanagar • Jaipur • • Jammu • • Kanpur • • • Kochi Kohima • Kolkata • • Lucknow • • • Mumbai • • • • Nagpur • • • • New Delhi • Panaji Patna • • Raipur • • Ranchi • • • • Shillong • • • • Shimla • Srinagar • • Thiruvananthapuram Holiday Description Day Diwali Amavasya (Laxmi Pujan)/Deepawali/Kut/Kannada Rajyothsava/Govardhan Pooja Diwali (Bali Pratipada)/Balipadyami/Laxmi Puja (Deepawali)/Govardhan Pooja/Vikram Samvant New Year Day Chhath (Evening Arghya) Chhath (Morning Arghya)/Wangala Festival Egaas-Bagwaal/Nongkrem Dance Assembly General Election, 2024 Guru Nanak Jayanti/Karthika Purnima/Rahas Purnima Kanakadasa Jayanti Assembly General Election, 2024 Seng Kutsnem

ITR Filing: The Central Board of Direct Taxes recently issued a circular for condonation of delay in filing ITR. ​The latest circular has reduced the time limit to apply for condonation of delay to five years from the end of the financial year in which the ITR was actually required to be filed.

Maternity Leave in India: Not many women know the benefits they get under the Maternity Benefit Act. This includes the maximum number of paid leave allowed, when the maternity leave starts, circumstances on when it can be extended, salary benefits and so on. Read the article to know the benefits guaranteed to a woman under the Maternity laws.