Connect with us

Business

Tax Credits will soon end in major benefit shake-up – claimants urged to ‘act quickly’ | Personal Finance | Finance

CHANNEL TODAY BROADCASTING CORPORATION

Published

on


 benefits will soon be completely replaced by , leaving many needing to make a new claim.

Britons are being urged to keep an eye out for a letter called a Universal Credit Migration Notice from the Department for Work and Pensions () explaining what they’ll need to do, and by when.

To continue to receive financial support, people who receive a letter will need to claim Universal Credit by the deadline stated – even if they have just renewed their Tax Credits claim.

A statement published on the Government’s Understanding Universal Credit website detailing the changes reads: “You won’t be moved automatically, so it’s important to act quickly and follow the instructions in the letter, otherwise your benefits will stop.”

The DWP has provided a number of steps people can take to prepare for the change, however, it stressed: “It’s important to wait for your Migration Notice letter before you switch over and follow the instructions in the letter closely.”

The steps include using a benefits calculator to estimate if and how their payments may change with Universal Credit, as well as finding an independent local benefits advisor to speak to through Advice Local.

The DWP stated: “If the amount you are entitled to on your existing benefits is more than you will get on Universal Credit, where eligible, you can receive a top-up amount called Transitional Protection.”

Universal Credit is a modern benefits system designed to help people in work, looking for work or unable to work.

It brings together six older benefits and helps ensure people receive the financial support they’re entitled to, all in one place.

Claiming Universal Credit can also deem a person eligible for more financial support to help cover other costs, such as housing, certain bills and more.

It can also help pay for childcare costs and provide access to a work coach, who can give tailored guidance to help people progress professionally.

Payments can adapt to personal circumstances, for example, if claimants find themselves out of work unexpectedly, their Universal Credit payment will adjust automatically. 

A number of other benefits are also going to be replaced by Universal Credit, including Housing Benefits, Income Support, Income-based Jobseeker’s Allowance (JSA) and Income-related Employment and Support Allowance (ESA).



Source link

Business

Common ITR Filing Mistakes That Can Trigger An Income Tax Notice

CHANNEL TODAY BROADCASTING CORPORATION

Published

on



Filing an Income Tax Return (ITR) is an annual responsibility for millions of taxpayers, but even minor errors can attract unwanted scrutiny from the Income Tax Department. Common mistakes can trigger an income tax notice, which wastes your time and effort

What are the most common filing errors that you can avoid to ensure their returns are accurate and compliant with tax regulations? Here is the answer:

1. Choosing the wrong ITR form

Choosing the wrong ITR form is one of the quickest ways to receive a “defective return” notice or an audit. Each form corresponds to specific financial profiles. If your income sources do not align with the form’s designated criteria, tax authorities will flag the filing.

2. Missing the ITR filing deadline

Missing the due date can result in a late fee of up to Rs 5,000. More importantly, it forces you to file a “belated return”, which strips your ability to carry forward business and capital losses and charges 1% monthly interest on unpaid taxes.

ALSO READ: ITR 2026: What Is Form 39? Here’s How To Save Tax On Salary Arrears After Resigning

3. Quoting the wrong assessment year

Taxpayers often confuse the Financial Year, the year in which you earned the income, with the Assessment Year, the year in which that income is evaluated and taxed. This simple oversight causes severe delays in processing and can attract penalties.

4. Not reporting all sources of income

When taxpayers only declare their primary salary, they overlook secondary earnings. This creates instant discrepancies with the Income Tax Department’s data.

Essential Business Intelligence,
Continuous LIVE TV,
Sharp Market Insights,
Practical Personal Finance Advice and
Latest Stories — On NDTV Profit.




Source link

Continue Reading

Business

Cockroach Janta Party Founder Abhijeet Dipke Joins Demonstration At Jantar Mantar Amid Tight Security

CHANNEL TODAY BROADCASTING CORPORATION

Published

on



Abhijeet Dipke, founder of the Cockroach Janta Party (CJP), joined hundreds of students and young professionals at Jantar Mantar in New Delhi on Saturday as the youth staged a protest over alleged irregularities in examinations and recruitment tests.

The gathering saw participation from school and college students, many of whom arrived wearing cockroach masks, the symbol of the movement. Several attendees carried flowers, books and the national flag, while some school students were accompanied by their parents.

Students at the venue raised slogans and demanded the resignation of Union Education Minister Dharmendra Pradhan.

Dipke Calls For Peaceful Protest

After arriving in Delhi, Dipke urged supporters to maintain discipline and ensure that the demonstration remained peaceful.

In a post on X, he wrote, “Landed. Looking forward to meet you all at Jantar Mantar. Do not forget to carry a book and our Tiranga.”

He also encouraged protesters to offer flowers to police personnel.

“Offer flowers to policemen as a gesture of compassion & gratitude. We have to lead this movement with love and peace,” Dipke said.

The appeal echoed guidelines issued by the organisation ahead of the protest, which urged participants to avoid confrontation and maintain non-violent conduct.

Security Tightened

With a large turnout expected, security was heightened across the national capital. Additional police personnel were deployed at Indira Gandhi International Airport, border entry points and other sensitive locations.

ALSO READ: CBSE Extends Class 12 Verification, Re-Evaluation Application Deadline: Check New Date Here

Officials said more than 1,000 police personnel were stationed across New Delhi and nearby areas as a precautionary measure.

Despite the heavy security presence, organisers continued to stress that the protest was intended to remain peaceful and focused on student issues.

Meanwhile, activist Sonam Wangchuk expressed support for the movement and said he would undertake a six-week fast if Dipke were arrested.

Focus On Exam Concerns

The Cockroach Janta Party has emerged as a prominent online movement highlighting concerns over alleged irregularities in examinations and recruitment tests.

The group has sought accountability in cases linked to NEET, CBSE, CUET and SSC examinations, arguing that students deserve a fair and transparent system.

ALSO READ: Tech Layoffs 2026: 1,00,000 Jobs Gone In Five Months As Companies Slash Workforce

Essential Business Intelligence,
Continuous LIVE TV,
Sharp Market Insights,
Practical Personal Finance Advice and
Latest Stories — On NDTV Profit.




Source link

Continue Reading

Business

Rs 52,600 Minimum Pay & Fitment Factor Of 3.8, Demands Railways Employees’ Association

CHANNEL TODAY BROADCASTING CORPORATION

Published

on



Consultations for the 8th Central Pay Commission are underway. The Indian Railways Technical Supervisors’ Association (IRTSA) is among the groups asking for salary revisions from the central government.

In a memorandum submitted during an interaction with the 8th Pay Commission on May 19 in Hyderabad, IRTSA proposed a hike in minimum pay and higher fitment factors for technical workers. 

IRTSA demanded that the minimum basic salary should be revised to Rs 52,600. It also asked for classifying the post of Senior Section Engineer under Group-B gazetted status. Further it also proposed separate fitment factors for different categories of workers.

The fitment factor is used to calculate the extent to which existing salaries can be revised. 

IRTSA recommended that higher indexing of fitment factors should be followed for safety category posts. It advocated a fitment factor of 2.92 for level-1 posts. For posts in levels 6,7 and 8, the association said the fitment factor should be 3.5 and for levels 9 to 12, 3.8.

The association also put forward the demand for a structured five-grade promotional hierarchy for Junior Engineers (JEs), starting from Level-7.

It also called for the correction of pay anomalies that affect technical supervisors as well as better alignment of pay structures in departments for the equitable treatment of employees with comparable responsibilities.

Also Read: 8th Pay Commission: Big Pension Change Proposed For Senior Citizens; Check Age-Wise Benefits

According to IRTSA’s memorandum, many railway engineers handling critical technical and supervisory functions face prolonged stagnation.

It highlighted how promotion to Group-B suffered from bottlenecks like less number of posts and unjustified comparisons with technical supervisors. IRTSA also asked for the inclusion of a training period for the Modified Assured Career Progression Scheme (MACPS) and the implementation of said scheme and its related court judgements. 

The association also discussed allowances for technical supervisors such as night duty, overtime and Production Control Organisation (PCO) allowance with the 8th Pay Commission staff. It opposed the withdrawal of the PCO allowance, claiming that it helps improve productivity.

IRTSA asked for the extension of accident-free service award, risk and hardship allowance to open line engineers as well as staff.

Also Read: 8th Pay Commission: This Employee Body Submits Plea For 3.05 As Fitment Factor; Explains Rationale

Over the past few months, several associations have put forward their demands before the 8th Central Pay Commission. 

As of now, no decision has been taken on IRTSA’s demands. The commission will collect submissions from different stakeholders before presenting its recommendations to the Centre.

Essential Business Intelligence,
Continuous LIVE TV,
Sharp Market Insights,
Practical Personal Finance Advice and
Latest Stories — On NDTV Profit.




Source link

Continue Reading

Trending