Secure ₹5 Crore for Retirement with Ideal SIP

Many seek guidance on building a ₹5 crore retirement fund. Financial experts emphasize the crucial need to start saving early in your career for favorable investment returns. A year’s delay in retirement planning significantly impacts the corpus, highlighting the importance of early initiation to leverage the power of compounding.

1. Ideal SIP for ₹5 Crore if You’re in Your 20s

“Transforming the ₹5 crore dream into reality is practical through early and consistent SIPs, letting compounding work its magic. Initiating SIPs in your 20s with ₹8,000 per month in quality equity funds delivering 12% CAGR can make you a crorepati by 45 and amass ₹5 crore by 60,” states Ashish Aggarwal, Director, Acube Ventures.

Also Read: Secure ₹5 Crore for Retirement with Ideal SIP

2. Ideal SIP for ₹5 Crore if You’re in Your 30s

Starting in your 30s requires a higher monthly SIP of about ₹21,000 for the same impact. Extending investment horizons beyond 25 years, careful fund selection, and increasing contributions during earnings peaks are key. Making every rupee work hard from a young age achieves financial freedom and surpasses inflation by a considerable margin, emphasizes Ashish Aggarwal.

3. Ideal SIP for ₹5 Crore if You’re 35 Years Old

As per the Upstox SIP calculator, a 35-year-old needs to invest ₹27,000 per month for the next 25 years to build a ₹5 crore corpus by 60, assuming a 12% annual rate of return and monthly compounding. The invested amount of ₹81 lakh will grow to ₹5 crore 12 lakh 36 thousand 147.

Also Read: Secure ₹5 Crore for Retirement with Ideal SIP

4. Ideal SIP for ₹5 Crore if You’re 40 Years Old

For a 40-year-old aiming for ₹5 crore by 60, the Upstox SIP calculator suggests investing ₹33,000 per month for the next 20 years. Assuming a 15% annual return and monthly compounding, the invested amount of ₹79.2 lakh will grow to ₹5 crore 26 thousand 514.

To enhance retirement planning, diversify your investment portfolio, considering factors like risk tolerance, investment horizon, and financial goals. Regularly monitor investment performance, making necessary adjustments to stay aligned with objectives.

Also Read: Secure ₹5 Crore for Retirement with Ideal SIP

Disclaimer: The views and recommendations made above are those of individual analysts, and not of TheNewsay. We advise investors to check with certified experts before taking any investment decisions.

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Relief for Small Tax Demands Cleared: Income Tax 2024

How to Check Your Status?

To verify if your tax demand has been waived, follow these steps:

A. Visit: pending action > response to outstanding demand.

B. Look for the status of ‘extinguished demands’ in your case.

C. For queries, call 1800-309-0130.

D. Email your concerns to taxdemand@cpc.incometax.gov.in.

Also Read: Relief for Small Tax Demands Cleared

Withdrawal of Tax Demands

The government proposed to withdraw outstanding direct tax demands dating back years, causing anxiety to honest taxpayers.

“There are disputed tax demands some of them dating back to 1962 causing anxiety to the honest tax payers, so I propose to withdraw such outstanding direct tax demand up to ₹25,000 pertaining to the period up to FY 2009-10 and up to ₹10,000 up to 2010-11 to 2014-15,” said Sitharaman in the Budget speech. This is expected to benefit one crore tax payers, she added

In another development, Life Insurance Corporation of India announced receiving refund orders totaling ₹21,740.77 crore from the Income Tax Department for Assessment Years 2012-13 to 2019-20.

Also Read: Relief for Small Tax Demands Cleared

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Many subscribers have complained about delays in claim settlement on EPFO’s official handle. EPFO, the world’s largest social security organization with over 277 million accounts and a corpus of nearly ₹20 lakh crore, responded that it normally takes 20 days to settle a claim if all required documents are submitted.

EPFO Rejects One Third of Claims: Reports Indian Express

In the financial year 2022-23, out of 73.87 lakh claims for final PF settlement, 33.8% (24.93 lakh) were rejected, 46.66 lakh were settled, and 2.18 lakh remained as the closing balance, according to official data.

This rejection rate is significantly higher than in 2017-18 and 2018-19, which were around 13% and 18.2%, respectively. In 2019-20, the rejection rate was 24.1%, and in 2020-21, it rose to 30.8%. In 2021-22, the rejection rate for final settlement claims increased to 35.2%.

Also Read: EPFO Rejects One Third of Claims

Pressure on EPFO Officials

EPFO officials expressed concern about being under “extreme pressure” due to the return to manual annual account updates. The outdated IT system is blamed for delays in claim settlements beyond the stipulated 20-day timeframe.

Interest Announcement

On Feb 10, the Central Board Trustees of EPFO recommended an annual interest rate of 8.25% to be credited on EPF accumulations in members’ accounts for the financial year 2023-24. The Board also proposed a distribution of income of ₹1,07,000 crores to EPF members’ accounts on a total principal of around ₹13 lakh crores, marking the highest total income recommended for distribution so far.

Also Read: EPFO Rejects One Third of Claims

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These steps, along with advanced encryption, authentication technologies, second channel notifications, and risk-based transaction monitoring, aim to foster a secure and reliable digital payments ecosystem.

RBI uses various channels like digital, print, and audio-visual media through the “RBI Kehta Hai” program to create customer awareness. The central bank issues master directions on digital payment security controls to banks and regulated entities to safeguard customer data confidentiality and integrity.

Also Read: RBI Takes 8 Steps for Secure Digital Payments

Shikhar Aggarwal, Chairman of BLS E-Services, advises users not to share sensitive information like card details, passwords, PINs, OTPs, CVVs, UPI-PIN, and to avoid financial transactions on public Wi-Fi networks. Additionally, users are urged not to store crucial banking data on their mobiles, emails, electronic wallets, or purses.

RBI Takes 8 Steps for Secure Digital Payments: List

1. Specific OTPs required from a secondary channel for adding new payees.
2. New OTPs mandated for high-value transactions.
3. Managed time limits for OTPs to minimize misuse.
4. Use of digital signatures and Key-based Message Authentication Codes (KMAC) to prevent unauthorized transactions.
5. Customer education on rights, responsibilities, and risks under the Consumer Protection Act and internet banking.
6. Alternate notification method for transactions exceeding a specified value.
7. Guidance on responding to SSL or EV-SSL certificate alerts to prevent phishing.
8. Implementation of systems to assess transaction patterns and highlight unusual activities, ensuring alignment with customer behavior.

Also Read: RBI Takes 8 Steps for Secure Digital Payments

Disclaimer: The views and recommendations made above are those of individual analysts, and not of TheNewsay. We advise investors to check with certified experts before taking any investment decisions..

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7 Valuable Lessons from Farming Practices: Investing Insights

1. Keep Calm with Your Investments

Patience is key in both farming and investing. Farmers don’t yell at their crops; likewise, investors should avoid impulsive decisions driven by frustration or fear. Focus on long-term goals amid market fluctuations.

2. Growth Takes Time

Investments, like crops, need time to grow. Understand the compounding power, allowing returns to snowball with time. Early investments enable compounding over an extended period, transforming modest gains into substantial wealth.

3. Avoid Premature Actions

Just as crops vary in growth rates, investments also differ. Don’t hastily redeem investments due to impatience. Strategic planning, like farmers choosing crops, is crucial. Consider advantages and disadvantages before engaging in new investments.

Also Read: 7 Valuable Lessons from Farming Practices

4. Choose Wisely

Selecting the right investments is akin to farmers choosing suitable plants. Understand financial terms, conduct thorough research, and base decisions on equities, debt, and financial goals rather than hearsay.

5. Nurturing Investments

Cultivate investments like farmers nurture crops. Stay vigilant, recognize market downturns, and use opportunities to accumulate quality stocks or units in high-yield mutual funds.

6. Eliminate Non-Performers

Removing weeds in farming is like getting rid of underperforming investments. Proactively eliminate undesirable elements, strategically timing actions to optimize returns. Regular assessment ensures enduring financial success.

7. Prepare for Ups and Downs

Similar to farmers preparing for diverse weather conditions, diversify your investments across asset classes and sectors. Create a “rainy day” fund for unforeseen expenses without selling investments during market downturns. Stay informed but avoid fixating on daily fluctuations. Be ready to adapt strategies based on significant changes or economic indicators.

Also Read: 7 Valuable Lessons from Farming Practices

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Speculation Grows About a Foldable iPad or MacBook

The delay in Apple’s entry into foldable tech is attributed to its commitment to maintaining high-quality standards. Despite working with Samsung on displays, Apple is looking for a foldable panel that meets its strict requirements. Engineers, even from projects like Vision Pro, are now dedicated to perfecting the foldable technology.

The report hints at a delayed release, possibly not before 2025, due to Apple’s meticulous approach. While this delay might disappoint those anticipating a foldable iPhone, it sparks speculation about Apple’s debut form factors in the foldable market.

One possibility is a foldable iPad, with enthusiasts speculating about a redesigned iPad Mini featuring a foldable display. Such a device could offer portability without compromising on screen size, appealing to users wanting a compact yet powerful tablet.

Rumors of a foldable MacBook also circulate, though with less certainty. Some suggest Apple should focus on perfecting foldable tech for smaller devices before venturing into laptops.

In the end, whether Apple’s first foldable device is a foldable iPad, MacBook, or a surprise, one thing is certain: the tech world will closely watch as Apple reveals its vision for the future of foldable technology.

Also Read: Speculation Grows About a Foldable iPad or MacBook

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As per Future Path of Nikki Haley After Home State Primary Loss to Donald Trump. Trump’s success in the first four major nominating contests establishes a formidable lead as the “Super Tuesday” 15-state voting approaches. Despite Haley’s determination to continue, Trump, focused on the broader election, didn’t mention her in his victory speech, directing his criticism towards Biden.

Future Path of Nikki Haley After Home State Primary Loss to Donald Trump

“We’re going to be up here on November 5 and we’re going to look at Joe Biden — we’re going to look him right in the eye, he’s destroying our country — and we’re going to say, Joe, you’re fired. Get out,” Trump said to cheers at his victory party in state capital Columbia.

“This quick call is a bad result for former governor Haley in her home state. The quickness of the call will likely lead to additional pressure for her to drop out of the race,” he told AFP.

Haley, a former governor of South Carolina and the only woman in the Republican contest, aimed to surpass expectations in her home state but struggled against Trump’s right-wing populism. Trump’s previous victories and the likelihood of party unity ahead of his March 25 criminal trial pose challenges for Haley’s continued campaign.

Also Read: Future Path of Nikki Haley After Home State Primary Loss to Donald Trump

‘Chaos’

Trump’s aides aim to eliminate Haley before the Republican National Convention, anticipating party consolidation around the front-runner. Haley, a traditional conservative, warned of a scandal-ridden Trump presidency. She criticized Trump’s comments to Black conservatives, calling them “disgusting,” and highlighted concerns about his response to global issues.

Despite arguing for her electability against Biden, Haley’s message may not have resonated widely. While she plans to persist through Super Tuesday, analysts suggest she could be positioning herself for a potential 2028 run or as a replacement if Trump faces legal or health challenges.

“Nikki Haley’s an incredible role model,” said one Republican voter, Julie Taylor. “She’s not giving up, she’s showing strength and grace and courage.”

Also Read: Future Path of Nikki Haley After Home State Primary Loss to Donald Trump

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As the world acknowledges this solemn anniversary, the European Union has imposed its 13th package of sanctions, intensifying Russia’s isolation. David Cameron was anticipated to speak at an evening meeting with his Ukrainian counterpart, Dmytro Kuleba.

EU Grapples Sanctions Escalate Costs Mount: Russia-Ukraine War

Europe Grapples with Tough Questions

As the world observes the invasion’s second anniversary today, Europe faces challenging questions about the war and its future. The most pressing: how long can it sustain the draining financial and military support for Ukraine? Whispers of fatigue are growing, especially as the war shows no immediate resolution, and unity within the European Union and NATO encounters challenges.

Also Read: EU Grapples Sanctions Escalate Costs Mount

EU Grapples Sanctions Escalate Costs Mount: Here are the 10 key points

• On February 24, 2022, Russian forces, under the order of President Vladimir Putin, initiated a multi-pronged attack on Ukraine, targeting major cities like Kyiv, Kharkiv, and Odessa.
• Ukrainian troops and a galvanized citizenry fiercely resisted, leading to intense fighting, particularly around major population centers.
• The second-anniversary clashes coincide with heightened tensions as the US announces its most substantial package of sanctions against Moscow, aiming to cripple Russia’s war effort.
• The EU has implemented its 13th package of sanctions, further isolating Russia. In response, Moscow has imposed counter-sanctions on EU officials.
• Sanctions and export controls are in place to hinder Russia, “making it harder for them to fight their war of choice,” said Deputy US Treasury Secretary Wally Adeyemo.

Geopolitical and Economic Impact

The war has significantly damaged Ukraine’s economy, witnessing a decrease of approximately 30-35% of GDP in the first year alone. Neighboring economies are also affected, with increased defense spending and inflationary pressures, according to the Economics Observatory.

European energy companies face challenges in finding alternative suppliers to replace Russian imports, leading to higher transportation costs, as per S&P Global data.

Also Read: EU Grapples Sanctions Escalate Costs Mount

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Top 7 iPhone Call Recording Apps for Communication: iOS 2024

1. Rev Call Recorder

Rev Call Recorder stands out for recording both incoming and outgoing calls on iPhones. It also offers features like call transcripts and easy navigation during playback with adjustable speeds.

2. TapeACall Pro

Simplify call recording on iPhones with TapeACall Pro, capturing both incoming and outgoing calls with a simple tap. It operates without requiring internet connectivity, ensuring a convenient user experience.

3. Re:Call

Re:Call offers a flexible solution for recording diverse phone conversations and voice memos, providing privacy by concealing caller ID. It includes cost-effective international calls and transcription capabilities.

Also Read: Top 7 iPhone Call Recording Apps for Communication

4. Cuba ACR

Cuba ACR is a versatile app for call recording and voice memos, allowing seamless transitions between loudspeaker and ear speaker modes. It supports cloud backups and features a smart-clean function for optimized memory usage.

5. Google Voice

Google Voice is a valuable asset for iPhone users, offering customized call recording features based on account categories. It allows recording both incoming and outgoing calls for Google Workspace account users.

6. CallRec Lite

CallRec Lite is a user-friendly voice and call recording app that automatically identifies your location. While offering unlimited call recording, initial access to complete recordings is restricted to 60 seconds. Subscribing enhances functionality for effective call management.

7. Notta

Notta goes beyond call recording, serving as a transcription tool that simplifies communication on iPhones. Integrated with Google Calendar, Notta captures, transcribes, and schedules crucial conversations, providing automatic summaries with highlighted key points.

Also Read: Top 7 iPhone Call Recording Apps for Communication

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Nothing 2a Made in India Apple Vision Pro GTA 6 Leaks

1. Nothing Phone (2a) to be Made in India

UK-based tech company Nothing confirmed that its latest mid-range smartphone, the Nothing Phone (2a), will be manufactured in India. CEO Carl Pei, now known as ‘Carl Bhai’ on X, engaged with the Indian audience and expressed excitement for the market. The smartphone is set to debut globally on March 5, promising notable features and a competitive price.

2. Apple Vision Pro’s Mixed Reception

Apple’s recent release, the Vision Pro, received mixed reactions from users. Bloomberg columnist Mark Gurman reported a surprising number of returns, citing concerns about comfort, price justification, and an isolated user experience. While some users hailed it as the tech of the future, others criticized various aspects. Apple is actively investigating the reasons behind returns and addressing customer concerns.

Also Read: Nothing 2a Made in India Apple Vision Pro GTA 6 Leaks

3. GTA 6 Features Leak

The gaming community buzzed with excitement as leaked information about Grand Theft Auto VI (GTA 6) surfaced. A mysterious Redditor unveiled groundbreaking features, including gore and dismemberment abilities, dual wielding, a 3vs3 basketball game mode, and enhanced carjacking mechanics. The leak has reignited anticipation for the highly awaited game, with players eagerly awaiting official announcements from Rockstar Games.

4. Reliance’s ‘Hanooman’ ChatGPT

In a significant move towards indigenous AI in India, the BharatGPT group, backed by Mukesh Ambani’s Reliance Industries and top engineering schools, is set to launch its ChatGPT-style service named ‘Hanooman’ in March. The AI model, developed in collaboration with eight Indian Institutes of Technology, aims to cater to various fields, supporting 11 local languages.

5. Google Pixel Production in India

Google, under Alphabet Inc, plans to initiate production of its Pixel smartphones in India next quarter, with the goal of manufacturing over 10 million Pixel units in 2024. This strategic move aims to expand market presence, diversify the supply chain, and tap into India’s vast consumer base, potentially leading to cost savings.

Also Read: Nothing 2a Made in India Apple Vision Pro GTA 6 Leaks

6. Elon Musk Criticizes Google’s Gemini AI

Tesla and xAI CEO Elon Musk criticized Google for its Gemini AI chatbot, particularly its text-to-image generation feature. Musk called Google ‘insane’ and ‘anti-civilization,’ alleging racist tendencies in the programming. Google subsequently paused the image-generation capabilities of Gemini, acknowledging inaccuracies in historical depictions.

7. X Shutdown in Pakistan

The widely used social media platform ‘X’ has been inaccessible in Pakistan for almost a week, with no official explanation from the government. Digital rights activists criticized the lack of transparency, and the Sindh High Court directed the Pakistan Telecommunication Authority (PTA) to fully restore ‘X’ services, emphasizing the violation of fundamental rights and the Constitution.

Also Read: Nothing 2a Made in India Apple Vision Pro GTA 6 Leaks

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