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Retiring soon? Avoid these tax mistakes that can quietly drain your savings

Retirement is often seen as a reward for years of hard work, offering time, freedom, and flexibility. However, it also brings a significant change in how income is earned and taxed. Instead of a single salary slip, retirees begin receiving income from multiple sources such as pension, bank interest, fixed deposits, rental income, and investment withdrawals. This sudden shift creates confusion, and even small tax oversights during the first year of retirement can quietly reduce lifetime saving

Finance & Economics

20 Jan 2026 07:24 AM 90 views

Retiring soon? Avoid these tax mistakes that can quietly drain your savings

Retirement is often seen as a reward for years of hard work, offering time, freedom, and flexibility. However, it also brings a significant change in how income is earned and taxed. Instead of a single salary slip, retirees begin receiving income from multiple sources such as pension, bank interest, fixed deposits, rental income, and investment withdrawals. This sudden shift creates confusion, and even small tax oversights during the first year of retirement can quietly reduce lifetime saving

Finance & Economics

Modi’s Tax Cuts Spark Indian Market Rally And Boost Consumption Outlook

Indian markets rallied on Monday following Prime Minister Narendra Modi’s announcement of sweeping tax reforms aimed at boosting domestic consumption and supporting growth. The Nifty 50 index climbed by 1%, while the BSE Sensex advanced 0.84%. The rupee also gained strength as the US dollar fell 0.18% against it. The rally reflected optimism that the tax overhaul would provide relief to households and industries at a time when India faces steep tariffs fr

Finance & Economics

18 Aug 2025 13:15 PM 643 views

Modi’s Tax Cuts Spark Indian Market Rally And Boost Consumption Outlook

Indian markets rallied on Monday following Prime Minister Narendra Modi’s announcement of sweeping tax reforms aimed at boosting domestic consumption and supporting growth. The Nifty 50 index climbed by 1%, while the BSE Sensex advanced 0.84%. The rupee also gained strength as the US dollar fell 0.18% against it. The rally reflected optimism that the tax overhaul would provide relief to households and industries at a time when India faces steep tariffs fr

Finance & Economics

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

The Income Tax (No 2) Bill, aimed at replacing the six-decade-old Income Tax Act of 1961, has been passed in the Lok Sabha, introducing a ‘S.I.M.P.L.E’ framework Streamlined structure and language, Integrated and concise, Minimised litigation, Practical and transparent, Learn and adapt, and Efficient tax reforms. Presented by Finance Minister Nirmala Sitharaman, the bill has been reworked based on 285 recommendations from a select committee led by

Finance & Economics

11 Aug 2025 09:55 AM 715 views

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

The Income Tax (No 2) Bill, aimed at replacing the six-decade-old Income Tax Act of 1961, has been passed in the Lok Sabha, introducing a ‘S.I.M.P.L.E’ framework Streamlined structure and language, Integrated and concise, Minimised litigation, Practical and transparent, Learn and adapt, and Efficient tax reforms. Presented by Finance Minister Nirmala Sitharaman, the bill has been reworked based on 285 recommendations from a select committee led by

Finance & Economics

Congress Appeal Against Rs 199 Crore Tax Demand Dismissed by Tribunal

In a significant legal ruling, the Income Tax Appellate Tribunal (ITAT) has dismissed the Congress party's appeal against an income tax demand of Rs 199 crore for the financial year 2018-19. The tax demand relates to party funds and stems from allegations of late filing of income tax returns and violations of cash donation limits. The ITAT ruled that the Congress party's return filed on February 2, 2019, was

Political News

22 Jul 2025 09:04 AM 478 views

Congress Appeal Against Rs 199 Crore Tax Demand Dismissed by Tribunal

In a significant legal ruling, the Income Tax Appellate Tribunal (ITAT) has dismissed the Congress party's appeal against an income tax demand of Rs 199 crore for the financial year 2018-19. The tax demand relates to party funds and stems from allegations of late filing of income tax returns and violations of cash donation limits. The ITAT ruled that the Congress party's return filed on February 2, 2019, was

Political News

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#indiatax

Retiring soon? Avoid these tax mistakes that can quietly drain your savings

Retiring soon? Avoid these tax mistakes that can quietly drain your savings

Modi’s Tax Cuts Spark Indian Market Rally And Boost Consumption Outlook

Modi’s Tax Cuts Spark Indian Market Rally And Boost Consumption Outlook

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

Congress Appeal Against Rs 199 Crore Tax Demand Dismissed by Tribunal

Congress Appeal Against Rs 199 Crore Tax Demand Dismissed by Tribunal

India’s first AI university to begin operations in Amaravati from February

How Kerala Celebrates Onam: Traditions, Games, Food and Festivities

Immigration Costs May Rise Sharply Under New GOP Proposal Targeting Asylum and Work Permits

Amazon Feels Confident in AI Bets Despite Laying Off 14,000 Employees

Tackling Nature's Roller Coaster: Extreme Mountain Biking

Top Events In Columbus This Weekend: Air Show, Yoga With Puppies And More

Shastri and Ponting Back Pakistan to be Dangerous in ICC Champions Trophy

North to Shore Festival 2026 announces star-studded lineup in New Jersey

Google I/O 2025: Dates, What to Expect, and Registration Details

India Beats UAE by 10 Wickets, Reaches U19 Asia Cup Semi-finals

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India’s first AI university to begin operations in Amaravati from February

How Kerala Celebrates Onam: Traditions, Games, Food and Festivities

Immigration Costs May Rise Sharply Under New GOP Proposal Targeting Asylum and Work Permits

Amazon Feels Confident in AI Bets Despite Laying Off 14,000 Employees

Tackling Nature's Roller Coaster: Extreme Mountain Biking

Top Events In Columbus This Weekend: Air Show, Yoga With Puppies And More

Shastri and Ponting Back Pakistan to be Dangerous in ICC Champions Trophy

North to Shore Festival 2026 announces star-studded lineup in New Jersey

Google I/O 2025: Dates, What to Expect, and Registration Details

India Beats UAE by 10 Wickets, Reaches U19 Asia Cup Semi-finals

#indiatax

Retiring soon? Avoid these tax mistakes that can quietly drain your savings

Retiring soon? Avoid these tax mistakes that can quietly drain your savings

Modi’s Tax Cuts Spark Indian Market Rally And Boost Consumption Outlook

Modi’s Tax Cuts Spark Indian Market Rally And Boost Consumption Outlook

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

Income Tax No.2 Bill Passed: Key Features Of New S.I.M.P.L.E Law Explained

Congress Appeal Against Rs 199 Crore Tax Demand Dismissed by Tribunal

Congress Appeal Against Rs 199 Crore Tax Demand Dismissed by Tribunal

India’s first AI university to begin operations in Amaravati from February

How Kerala Celebrates Onam: Traditions, Games, Food and Festivities

Immigration Costs May Rise Sharply Under New GOP Proposal Targeting Asylum and Work Permits

Amazon Feels Confident in AI Bets Despite Laying Off 14,000 Employees

Tackling Nature's Roller Coaster: Extreme Mountain Biking

Top Events In Columbus This Weekend: Air Show, Yoga With Puppies And More

Shastri and Ponting Back Pakistan to be Dangerous in ICC Champions Trophy

North to Shore Festival 2026 announces star-studded lineup in New Jersey

Google I/O 2025: Dates, What to Expect, and Registration Details

India Beats UAE by 10 Wickets, Reaches U19 Asia Cup Semi-finals

Popular Cities