Income Tax Archives - Today News Headlines

New Income Tax Slabs 2025

Finance

New Income Tax Slabs 2025: Zero Tax on Income up to Rs 12 Lakh

Sasmita Apr 2, 2025 0

In a significant relief for taxpayers, the government has announced revised income tax slabs for the upcoming financial year. Under…

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itr-filing-dont-make-these-mistakes-to-avoid-getting-tax-notice-1068x801

Finance

Income Tax Calculator: How to Calculate Tax on Rs 12 Lakh Income

Sasmita Mar 31, 2025 0

As the financial year 2025-26 approaches, taxpayers earning more than Rs 12 lakh per annum must be aware of their…

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Top 10 Benefits of Filing Income Tax Returns

Finance

Top 10 Benefits of Filing Income Tax Returns (ITR) in India

Sasmita Mar 19, 2025 0

Filing Income Tax Returns (ITR) is not only a legal obligation but also offers several advantages that can enhance your…

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Trump’s new tariffs

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Hefty Trump Tariffs Shock Markets – Stocks Slide Amid Trade War Fears

Sasmita Apr 4, 2025

8th Pay Commission

Finance

8th Pay Commission Salary Calculator – DA, HRA & Govt Pay Structure

Sasmita Apr 4, 2025

The Employees' Provident Fund Organisation (EPFO) has introduced a significant change to the provident fund (PF) withdrawal process, making it more convenient for its members. This update eliminates the need for a cancelled cheque and employer-verified bank account details, ensuring a hassle-free experience. Key Highlights of EPFO's New Withdrawal Process No Cancelled Cheque Requirement – Previously, members had to upload a cancelled cheque for verification. This requirement has now been removed. Bank Account Verification Not Needed – Earlier, bank details needed verification from employers. Now, this step is unnecessary as bank details are verified at the time of UAN (Universal Account Number) seeding. Faster Claim Settlement – With these simplified steps, claim settlements are expected to be processed more efficiently, reducing delays and grievances. Auto-Mode Claim Processing – EPFO has introduced an auto-mode settlement for advance claims up to ₹1 lakh, ensuring quick disbursals. Pilot Success Leads to Expansion – The relaxation was first tested for a set of KYC-compliant members. After its success, it has been extended to all EPFO members. Benefits of the New EPFO Withdrawal Rules Smoother Withdrawal Process – With fewer documentation requirements, members can withdraw their PF funds more easily. Reduced Claim Rejections – Eliminating the need for document uploads minimizes errors and claim rejections. Improved Efficiency – Faster claim processing means members receive their funds in less time. Employer Hassle Reduced – Employers no longer need to verify bank details, easing their administrative burden. How to Withdraw PF Without Cancelled Cheque? Login to the EPFO Member Portal – Visit the official EPFO website and log in using your UAN and password. Go to ‘Online Services’ – Select the 'Claim (Form-31, 19, 10C & 10D)' option. Enter Bank Details – Ensure your registered bank account details are correct. Submit the Claim – Complete the necessary details and submit your request. Track Your Claim Status – Monitor the claim status through the EPFO portal. Final Thoughts EPFO’s latest initiative aims to enhance the ease of living for employees and streamline the withdrawal process. By removing unnecessary documentation, the organization is making fund access quicker and more efficient for its members. Stay updated with the latest EPFO news and guidelines to make the most of your provident fund benefits. Keywords: EPFO Fund Withdrawal, Cancelled Cheque Not Required, EPFO Bank Verification, PF Withdrawal Online, EPFO Latest News, UAN PF Withdrawal

Finance Latest News

Good News! EPFO Fund Withdrawal Made Easy – No Cancelled Cheque or Bank Verification Required

Sasmita Apr 4, 2025

Trump Pressures ‘Friend’ Modi With 26% Tariff on India

Politics

Trump Pressures ‘Friend’ Modi With 26% Tariff on India – Impact & Analysis

Sasmita Apr 3, 2025