NewsBizkoot.com

Author: admin

  • Times Square headquartered Vertex Global Services to hire 4000 language experts from India’s Tier II and Tier III cities – CRN

    Times Square headquartered Vertex Global Services to hire 4000 language experts from India’s Tier II and Tier III cities – CRN

    Currently, around 60 per cent of graduates in India are seeking better job opportunities by moving from tier-II and tier-III cities to tier-I cities. To tackle the employment challenges faced by the youth belonging to these cities, Vertex Global Services will expand in these regions through focused recruitment initiatives of language experts.  The world’s 19th most innovative and fastest-growing Business Process Management (BPM) player, Vertex Global Services has announced an ambitious plan to recruit 4000 language experts from India’s Tier II and Tier III cities over the next three to five years. Times Square’s headquartered firm is one of the few companies providing language proficiency in over 40 languages to its clients for unmatched customer experiences across the globe. The language proficiency in international languages encompasses English, French, Japanese, Korean, Russian, Bahasa, Vietnamese, Thai, Italian, Arabic, Khmer, Lao, Mongolian, Uzbek, Spanish, Tajiki, Turkmen, Mauritian Creole, Hebrew, Polish, Swahili, Amharic, Somali, Burmese, Mandarin, Cantonese, and more.

    In addition, regional languages include Assamese, Bengali, Dogri, Gujarati, Hindi, Kannada, Kashmiri, Konkani, Malayalam, Manipuri, Marathi, Nepali, Odia, Punjabi, Sanskrit, Sindhi, Tamil, Telugu, Urdu, and others. This diverse range of languages presents significant career opportunities for India’s youth.

    Supporting Prime Minister Modi’s vision of “Local to Global,” the company’s linguistic diversity positions it as a valuable partner in navigating the complexities of new-age startups and global brands. Through this recruitment initiative, the company aims to empower the youth of India from Tier I and Tier II cities with futuristic job opportunities while nurturing the rich pool of skills and potential found outside metropolitan areas.

    Currently, there is a significant demand for language experts among new-age startups to enhance customer experiences. Many youth in India face limited employment opportunities due to language barriers, which restrict their career options. By fostering local employment opportunities, the company is committed to uplifting language experts and contributing to the country’s economic growth. With a focus on bridging language barriers for improved customer experiences, the company has aggressive plans to expand its international and regional language portfolio in India.

    Vertex Global Services is making significant strides in the global market with operations in the United States, the United Kingdom, Nigeria, Nepal, the Philippines, UAE, and India. With a talented workforce, Vertex Group caters to numerous businesses and international brands across these diverse regions. The company provides a platform for the youth of India to learn diverse languages and work from their home country for global opportunities, reducing the need to relocate abroad. For example, those learning Spanish can work with Spanish-speaking clients without moving to Spain, thanks to Vertex’s innovative initiatives.

    Gagan Arora, Founder & CEO of Vertex Global Services said, “The ongoing growth of the IT and BPM sectors in tier-II and tier-III cities highlights a promising opportunity for development and innovation. These cities are on the brink of becoming vital hubs for these industries.  Companies are increasingly recognising the advantages of establishing a presence in these cities, where they can tap into fresh talent, the breeding grounds for innovation, and benefit from cost-effective operations, and robust infrastructure. By investing in these hubs, we can not only create a wealth of job opportunities for local youth but also contribute to the overall economic growth and development of these cities, fostering a cycle of progress and prosperity.”

    Vertex Global Services is ranked 19th among the top 50 most innovative companies and has been rated as the Best Place to Work for three consecutive years. Vertex offers a diverse portfolio of critical functions, including managed services and omnichannel customer support, technology solutions, exhibitions and conferences, performance marketing, and tailored solutions that enhance operational efficiency and foster lasting customer relationships. The business verticals include Vertex Global Services, Vertex Next, ILC Solutions, Vertex Learning, and Vertex Technologies. Vertex is dedicated to creating value and shared success for its customers, employees, shareholders, partners, and communities.

  • AI-Driven Cloud Recovery Platform Dramatically Cuts System Downtime

    AI-Driven Cloud Recovery

    In this rapidly growing digital era, development for cloud computing disaster recovery, a revolutionary approach combining artificial intelligence with Kubernetes container orchestration has achieved remarkable system reliability and cost efficiency improvements. The research, published in the International Journal of Computer Engineering and Technology by Varun Tamminedi, demonstrates significant advancements in protecting cloud infrastructure from failures and outages in modern computing environments.

    Smart Systems, Faster Recovery
    The innovative framework leverages deep learning-based predictive analytics and automated recovery mechanisms to enhance system resilience. By implementing intelligent resource optimization algorithms, the system achieved a 73% reduction in Recovery Time Objective (RTO). It maintained Recovery Point Objective (RPO) under 10 seconds for critical workloads, ensuring maximum business continuity for enterprises.

    Preventing Failures Before They Happen
    The hybrid AI approach, combining supervised and unsupervised learning techniques, demonstrated 89% accuracy in failure prediction with a 15-minute warning window. This predictive capability, coupled with automated response mechanisms, resulted in a 94% reduction in false positive failure predictions and a 78% increase in successful automated recoveries across distributed systems.

    Cost-Effective Innovation
    The implementation resulted in a 45% reduction in operational costs over 12 months through reduced manual intervention requirements. The system demonstrated particular effectiveness in financial services, healthcare systems, and e-commerce platforms where minimal downtime is crucial. These cost savings were achieved while maintaining superior performance and reliability standards across all deployment scenarios.

    Self-Learning and Adaptation
    The framework’s self-learning capabilities improved continuously over time, adapting to new patterns and potential threats. The multi-layered architecture combines real-time monitoring with dynamic resource allocation, ensuring optimal performance even during recovery operations. It maintains an impressive 99.999% system uptime across all test scenarios.

    Advanced Anomaly Detection
    The system employs sophisticated isolation forests, autoencoders, and Long-Short-Term Memory networks to process real-time metrics and identify potential system anomalies. The continuous learning mechanism ensures detection accuracy improves over time, adapting to new patterns and emerging threats in complex cloud environments.

    Resource Management Excellence
    The framework implements a multi-objective optimization approach balancing recovery speed with resource efficiency. This dynamic allocation system considers both current system state and predicted future demands, ensuring optimal resource utilization during operations and recovery scenarios across distributed clusters.

    Testing and Validation
    The system’s effectiveness was validated through comprehensive testing across three geographically distributed Kubernetes clusters operating on different cloud providers. The testing environment included microservices-based applications with varying resource requirements and traffic patterns, providing realistic disaster scenarios and recovery metrics.

    Performance Impact
    For different workload types, improvements were consistently high across various services: database services and file storage showed 77.1% improvement, web applications achieved 76.7% enhancement, and streaming services demonstrated 75.9% better performance than traditional approaches.

    Future-Ready Infrastructure
    The testing environment incorporates simulated failure injection mechanisms to validate system resilience under various conditions. The architecture’s base layer consists of Kubernetes infrastructure, including master and worker nodes, while the middle layer implements AI processing units and data collectors. The top layer comprises the intelligent decision-making system and user interface.

    Training and Implementation
    The framework employs distributed TensorFlow implementations for model training and inference, synchronizing model updates across clusters using a federated learning approach. Each Kubernetes cluster is monitored by dedicated AI agents that collect and process metrics in real-time. The system incorporates redundant AI processing units to ensure continuous operation during partial system failures.

    In conclusion, as Varun Tamminedi reported in his research, the system represents a significant advancement in cloud infrastructure resilience. While implementation requires expertise in AI and Kubernetes, the benefits of improved recovery times and enhanced predictive capabilities substantially outweigh these limitations. The framework’s success in reducing downtime and operational costs while improving system reliability marks a significant milestone in cloud computing disaster recovery.

  • Banks Can’t Make Public Photograph and Information of Loan Defaulters – High Court


    – Advertisement –

    The Kerala High Court has given an important direction to the banks. The court has said that the banks can no longer make the picture and information of the loan defaulter public.

    Along with this, the court also said that the banks cannot put pressure on the defaulter to repay the loan by harming his reputation and honour. This decision has been given by the bench of Justice Murali Purushothaman.

    – Advertisement –

    Strict court order

    Justice Murali Purushottam said that if a person’s picture and information is made public, it is a violation of his right to honor and dignity. The court also clarified that forcing a defaulter to repay the loan by threatening him would be a violation of Article 21 of the Constitution. This gives a person the right to live with dignity. After this decision, no bank will be able to recover the loan in this way. The court also said that this is not the right way to recover.

    This was the matter

    Now the question arises as to why the court had to give this decision. Actually, Chempazhanthi Agricultural Reform Cooperative Society had filed a petition. They had complained that the banks were putting up flex boards displaying the names and pictures of loan defaulters outside their headquarters. The court gave its decision on this and ordered the removal of these flex boards.

    Money was demanded from defaulters

    The bank said that they had asked for money from the defaulters several times before taking this step. They said that this is similar to the old method of tom-tomming under the Kerala Cooperative Societies Rules, 1969. This is applicable when someone’s immovable properties are confiscated. However, the court said that this practice of tom-tomming is an old and primitive method. It is not right to adopt it now.

    To Read More Latest Articles:-


    – Advertisement –

    Previous articlePM Modi will Distribute 50 Lakh Property Cards on 27th December 2024

    Jyoti

    Jyoti , has 2 years of experience in writing Finance Content, Entertainment news, Cricket and more. She has done BA in English. She loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @rightsofemployeescom@gmail.com

  • Indian healthcare sector poised to reach $320 bn by 2028: Report

    Healthcare sector at forefront of nanotechnology innovation

    IANS

    The healthcare sector in India is expected to reach $320 billion by 2028, even as the country’s pharmaceuticals, healthcare, and biotechnology industries continue to evolve in response to global demands, according to a report on Thursday.

    The report by Great Place To Work showed that the pharmaceutical sector aspires to reach a milestone of $130 billion by 2030, while the biotechnology sector is targeting $150 billion by 2025 and $300 billion by 2030, showcasing the industry’s potential for continued growth.

    The report stated that these industries are witnessing a profound transformation due to robust international expansion, increased industry consolidation, and the influx of investments leveraging India’s skilled workforce.

    To tackle the challenges, organisations in these sectors are creating environments that foster employee development and growth. They are also focusing on critical areas such as the adoption of artificial intelligence (AI), tailored employee development programmes, and workplace initiatives that align with employees’ evolving expectations.

    To stay ahead, the report urged firms to double down on actively cultivating career development pathways, grooming future-ready leaders, and refining their strategies to attract and retain top-tier talent, the report said.

    “The pharmaceuticals, healthcare, and biotech sectors are at a turning point. What started as a pandemic-driven sprint has transformed into a marathon of innovation, powered by a sharp increase in healthcare research and development investments,” said Balbir Singh, CEO, Great Place To Work, India.

    “India is leading the charge, with healthcare AI investments projected to reach $1.6 billion by 2025. These investments are not only advancing science but also attracting top talent, as organisations create dynamic environments where people can thrive and contribute to groundbreaking solutions,” he added.

    Why is the US healthcare the world's most expensive?

    Flickr

    The report noted that pharmaceutical companies are driving success through key areas such as growth via mentorship, skill enhancement, and continuous learning, as well as by implementing structured systems that enable performance-based career progression and foster innovation.

    Similarly, healthcare companies have found success through training initiatives that provide access to new technologies, therapists, and learning platforms, as well as offering flexible work arrangements and cross-departmental mobility opportunities.

    Biotech companies have found success through rotational training, mentoring, and upskilling programmes for both technical and non-technical roles, as well as hands-on training and certifications that boost skill development.

    The focus is not solely on providing training opportunities; it extends to ensuring that compensation remains competitive, aligned with market adjustments, and administered with full transparency, the report said.

    Singh called on organisations to maximise growth opportunities by creating focused strategies that combine career development, equity, and innovation.

    He also stressed the need to integrate “technologies like automation and fostering cross-functional collaboration to amplify both efficiency and employee satisfaction, setting the stage for long-term success.”

    (With inputs from IANS)

  • Indian rupee falls 10 paise, hit record low of 85.25 against USD in early trade

    The Indian rupee (INR) depreciated 10 paise to hit a new all-time low of 85.25 against the US dollar (USD) in early trade on Thursday, December 26, dragged down by the unabated outflow of foreign capital amid increased month-end demand of the American currency.

    Representational image. Photo courtesy: Unsplash
    An increase in demand for the USD dragged down the Indian rupee. Representational image. Photo courtesy: Unsplash

    Positive sentiment in domestic equity markets failed to support the Indian currency as the greenback index remained elevated while crude oil prices were on upward move, forex traders said.

    At the interbank foreign exchange, the rupee opened weak at 85.23 and slipped further to hit a life-time low of 85.25 against the greenback in initial deals, registering a loss of 10 paise against its previous closing level.

    On Tuesday, December 24, the rupee fell four paise to settle at a record low of 85.15 against the US dollar. The forex markets were closed on Wednesday for Christmas.

    Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading marginally lower by 0.11 percent but remained elevated at 107.90, amid soaring US Treasury yields and the fear of delayed interest rate cuts by the US Federal Reserve.

    Brent Crude, the global oil benchmark, rose 0.38 percent to USD 73.86 per barrel in futures trade.

    On the domestic equity market front, the 30-share benchmark index Sensex was trading higher by 335.63 points, or 0.43 percent at 78,808.50 points. The Nifty was up 103.55 points, or 0.44 percent, at 23,831.20 points.

    Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth INR 2,454.21 crore (USD 287,881,532), according to exchange data.

  • VC funding drops 22.5 pc in China in Jan-Nov as India sees surge

    VC funding drops 22.5 pc in China in Jan-Nov as India sees surge

    IANS

    As venture capital (VC) funding surged in India this year, China saw a 22.5 per cent decline in VC funding by both volume and value in the January-November period, a report showed on Thursday.

    A total of 2,313 VC funding deals were announced in China during January-November 2024, while the total disclosed funding value of these deals stood at $32.3 billion, according to GlobalData, a leading data and analytics company.

    This represents a year-on-year (YoY) decline of 23.1 per cent in VC deal volume, whereas the total disclosed funding value fell by 22.5 per cent, according to GlobalData, a leading data and analytics company.

    In the same period last year, a total of 3,006 VC deals were announced in China while the total disclosed funding value of these deals was $41.7 billion.

    According to Aurojyoti Bose, lead analyst at GlobalData, VC funding activity in China has continued to remain subdued in 2024 as investor sentiments seem to have taken a hit on the back of a crackdown on companies, macroeconomic challenges, and uncertain market conditions.

    VC funding drops 22.5 pc in China in Jan-Nov as India sees surge

    IANS

    “However, despite the decline, China, apart from being the top APAC market for VC funding activity, also continues to be a key global market, standing just next to the US both in terms of deal volume and value,” Bopse mentioned.

    China accounted for a 15.2 per cent share of the total number of VC deals announced globally during January-November 2024 while its share in terms of the corresponding funding value stood at 13.6 per cent.

    Among the notable VC funding deals included $1.5 billion worth of funding raised by Changxin Technology, $1.4 billion fundraising by AVATR, $1.1 billion worth funding secured by IM Motors, and $1 billion funding received by Moonshot AI, among others.

    Meanwhile, VC investment in India surged considerably to $4 billion in the April-June period (Q2 2024), from $2.9 billion in the previous quarter. On the other hand, China saw a massive decline in VC investment from $13.5 billion to $6.9 billion in the same period.

    VC investment is expected to continue to pick up in India, driven in part by the country’s stable government and positive economic environment, according to a recent KPMG report.

    (With inputs from IANS)

  • Everything You Need To Know About GST On Electric Vehicles

    For example, if a used car dealer purchases an EV for Rs 9 lakh and resells it for Rs 10 lakh, the tax will apply only to the Rs 1 lakh profit margin. However, direct transactions between individuals do not come under this tax

    Finance Minister Nirmala Sitharaman has clarified that the increase in GST from 12 per cent to 18 per cent on the sale of second-hand EVs will apply only to business entities involved in the resale of used electric vehicles. This increase in GST does not apply to individuals selling second-hand electric vehicles.

    During the 55th GST Council meeting press conference on Saturday, the panel approved an increase in the GST rate on used EVs sold by businesses to 18 per cent from 12 per cent earlier.

    While clarifying that the tax even for business entities would not be on the entire resale amount and only the margin value, Sitharaman said, “When the discussions happened, it was on that margin value. The 18 per cent GST will be levied only on the margin value between purchased product price and resale price.”

    For example, if a used car dealer purchases an EV for Rs 9 lakh and resells it for Rs 10 lakh, the tax will apply only to the Rs 1 lakh profit margin. However, direct transactions between individuals do not come under this tax.

    The GST has been increased to bring uniformity in the GST rate charged for businesses on the sale of used EVs with that of used petrol and diesel vehicles with larger engine capacities, which are already taxed at 18 per cent. This clarification came alongside the Council’s official release, which detailed that the decision was aimed at standardising the tax treatment for all vehicles, including used petrol, diesel, and electric vehicles.

    The Finance Minister also made it clear that the GST on new EVs remains at 5 per cent as the Government’s policy is still aimed at promoting the use of electric vehicles in order to reduce pollution. The GST council has recommended an increase to 18 per cent in the GST rate on the margin value of used car sales for specified petrol vehicles with 1200 cc or more and diesel vehicles with 1500 cc or more, and all EVs sold by business entities to bring uniformity among the second-hand sales, senior officials clarified.

  • Samsung Galaxy A16 5G review: Playing it safe

    Samsung Galaxy A16 5G review

    Samsung Galaxy A16 5G reviewIBT

    Samsung is gearing up for the highly anticipated Galaxy S25 series, but in the meantime, there’s something for budget shoppers in the company’s popular A-series. The Galaxy A16 5G seeks to make waves in the mid-range segment. It was launched at a starting price of Rs 18,999 for the 128GB variant and Rs 21,999 for the 256GB model and promises durability and long-term software support.

    But does it deliver beyond the spec sheet? Here’s our take after using the phone.

    Key Highlights:

    1. Display: 6.7-inch Super AMOLED, 90Hz refresh rate

    2. Processor: MediaTek Dimensity 6300

    3. Rear camera: 50MP (f/1.8) + 5MP (f/2.2, ultrawide) + 2MP (f/2.2, macro)

    4. Front camera: 13MP (f/2.0)

    5. Battery: 5,000mAh with 25W fast charging

    6. OS Support: Six years of updates

    Design

    Samsung Galaxy A16 5G takes design cues from its pricier siblings, complete with a minimalist aesthetic, flat edges, and curved corners, which is a fantastic addition. The phone measures 7.9 mm thick and weighs 192 grams, striking a balance between sturdiness and comfort.

    The rear panel is made of polycarbonate, and the glossy finish on it makes it prone to smudges. Samsung sent us the Light Green shade, but the phone comes in Gold and Blue Black shades too, giving a wide enough range of palette options for those who like bling, pastel, and subtlety.

    Samsung Galaxy A16 5G review

    Samsung Galaxy A16 5G reviewIBT

    The phone incorporates the usual positions for the buttons, and the power button on the right also works as a fingerprint sensor to unlock the phone. Even the volume controls are easily reachable. Despite its tall profile, the phone is ergonomic and lightweight enough for prolonged use.

    Samsung Galaxy A16 5G review

    Samsung Galaxy A16 5G reviewIBT

    What’s interesting is that it also offers IP55 certification for dust and water resistance, at par with competitors like the Moto G85 and OnePlus Nord CE 4 Lite.

    Overall, the Galaxy A16 5G has a strong visual aura. The glossy polycarbonate back takes away that appeal when smudged. If you put on a protective case, that’s the least of your concerns.

    Display

    Samsung Galaxy A16 5G features a 6.7-inch Super AMOLED display, which delivers vibrant colours and smooth scrolling with its 90Hz adaptive refresh rate. While it excels indoors, outdoor usability falters due to its modest peak brightness of 800 nits, which is a major disappointment considering rivals like the Nord CE 4 Lite offer 2,100 nits. At maximum brightness, you can still use the display outdoors; it’s just not as good as rivals.

    Samsung Galaxy A16 5G review

    Samsung Galaxy A16 5G reviewIBT

    Playing games on the 90Hz refresh rate display is decent and intuitive. The phone is also great for multimedia consumption for its vibrant and rich colour output, even at FHD+ resolution.

    Performance

    Powered by MediaTek’s Dimensity 6300 chipset paired with 8GB RAM, the Galaxy A16 5G handles daily tasks, light multitasking, and casual gaming with ease. However, thermal management could be improved, especially during prolonged gaming sessions. This was evident despite the polycarbonate back. But this is not a gaming-centric smartphone.

    Samsung Galaxy A16 5G review

    Samsung Galaxy A16 5G reviewIBT

    Samsung’s One UI 6.1.1, based on Android 14, ensures a smooth user experience with six years of promised updates—a standout feature in the budget segment. However, the preloaded bloatware cannot be ignored, even though it is not uncommon in this price category.

    Samsung Galaxy A16 5G review

    Samsung Galaxy A16 5G reviewIBT

    Even the base variant of the phone comes with 128GB, and there’s an expandable storage option if that’s your thing. Storage concerns shouldn’t haunt the user with the A16 5G.

    Cameras

    Equipped with a triple camera setup (50MP main, 5MP ultra-wide, and 2MP macro), the Galaxy A16 5G has its ups and downs. On great days, it can deliver standout results, but in challenging conditions, do not expect much out of it.

    Samsung Galaxy A16 5G review

    Samsung Galaxy A16 5G reviewIBT

    In broad daylight, the phone captures decent dynamic range and good details and colours. Things get tough in low light. Even though it retains reliable colour accuracy, details fall short compared to the larger sensors of rivals.

    The 13MP front camera gets the job done. It’s not something that’ll impress you; it will manage to capture those impromptu moments with a certain finesse. The macro lens doesn’t offer any value, but the portraits are really good when shot in the right angle and light. The ultrawide lens requires ample lighting, or it fails to deliver optimum results. 

    Check out some camera samples shot on the A16 below:

    1/10

    • Samsung Galaxy A16 5G camera sample

      Samsung Galaxy A16 5G camera sampleIBT

    • Samsung Galaxy A16 5G camera sample

      Samsung Galaxy A16 5G camera sample in UWIBT

    • Samsung Galaxy A16 5G camera sample

      Samsung Galaxy A16 5G camera sample: 2XIBT

    • Samsung Galaxy A16 5G camera sample

      Samsung Galaxy A16 5G camera sample: PortraitIBT

    • Samsung Galaxy A16 5G camera sample

      Samsung Galaxy A16 5G camera sample: MacroIBT

    • Samsung Galaxy A16 5G camera sample

      Samsung Galaxy A16 5G camera sample: PortraitIBT

    • Samsung Galaxy A16 5G camera sample

      Samsung Galaxy A16 5G camera sample: IndoorIBT

    • Samsung Galaxy A16 5G camera sample

      Samsung Galaxy A16 5G camera sample: Low lightIBT

    • Samsung Galaxy A16 5G camera sample

      Samsung Galaxy A16 5G camera sampleIBT

    • Samsung Galaxy A16 5G camera sample

      Samsung Galaxy A16 5G camera sample: Macro indoorIBT

    Battery life and charging

    The 5,000mAh battery delivers respectable screen time, making it suitable for moderate use. It can last a whole day with mixed usage, even while running on 5G. However, its 25W charging speed pales in comparison to the 80W charging of the Nord CE 4 Lite. It takes around two hours to fully charge the phone, which is a test of patience in 2024. The omission of a charger in the box adds to the inconvenience.

    Samsung Galaxy A16 5G review

    Samsung Galaxy A16 5G reviewIBT

    Final Thoughts

    The Galaxy A16 5G is a dependable choice for users seeking a balance of design, longevity, and Samsung’s ecosystem benefits. However, those prioritizing fast charging, camera excellence, or outdoor readability might find better alternatives.

    Samsung’s Galaxy A16 5G’s long-term software support and its signature design are two major USPs. It’s ideal for users who prioritize durability and entry into Samsung’s ecosystem.

    Pros:

    • Long software support (6 years of updates)

    • Vibrant AMOLED display

    • Premium and lightweight design

    Cons:

    • Outdoor visibility can be improved

    • Average camera performance

    • Slow charging speed with no in-box adapter

  • 5 Smart Ways to Save Income Tax, Income can also Double

    Income Tax Rule


    – Advertisement –

    Tax Saving Tips: Everyone wants that they do not have to pay more tax on their income. There are many ways to save tax but sometimes people are not aware of these methods. So today we will tell you some smart ways to save tax with the help of which your wife can help you a lot financially by saving income tax.

    – Advertisement –

    Save more tax by taking a joint home loan (Tax Saving)

    If your wife also earns, then taking a joint home loan is always beneficial. This way, both of you will be able to save tax on your earnings. Because on taking a joint home loan, you can claim separate tax deductions of up to Rs 1.5 lakh on the principal repayment under Section 80C and up to Rs 2 lakh under Section 24(b). Thus, by taking a joint loan, both of you can get a total tax deduction of up to Rs 7 lakh. But remember that unless the property is in joint name, you will not be able to avail this tax benefit.

    How can a wife double your income?

    To double your income, open separate PPF accounts in the name of both you and your wife and invest in them. You can claim tax benefits on investments up to Rs 1.5 lakh in both the accounts. In this way, you can claim tax benefits on total investments up to Rs 3 lakh. So, your income has doubled, right? (Double your income).

    NPS Account in Wife’s Name

    Open an NPS (National Pension System) account in your wife’s name as well. By investing in both the accounts, you can claim additional tax benefits of up to Rs 50,000 under Section 80CCD(1B).

    Health Insurance Policy in the Name of Wife or Family

    You can claim tax deduction under Section 80D on the premium paid for a health insurance policy for your wife and family. Under Section 80D, tax deduction can be claimed on health insurance premium for spouse and family members. But to avail this tax benefit, both husband and wife will have to buy separate health insurance policies.

    Benefit of interest deduction on wife’s savings account

    Open a separate savings account in the name of your wife. Under section 80TTA, tax benefit is available on interest income up to Rs 10,000 on both the accounts.

    In these ways you can save a lot of tax and more tax saving means more income. You can use this money to strengthen your financial portfolio, which can meet many of your needs in the future.

    Related Articles:-

    1. New Luggage Rules in Flight: New flight luggage rules limit passengers to one cabin bag – Check Here

    2. New Luggage Rules in Flight: New flight luggage rules limit passengers to one cabin bag – Check Here

    3. Govt Declares December 27 as a Public Holiday…Details Here


    – Advertisement –

  • Sensex opens in green, Nifty above 23,800

    Sensex trades higher on strong global cues

    IANS

    The Indian stock market opened higher on Thursday as buying was seen in the PSU bank, auto, financial service and metal sectors on Nifty.

    At around 9:37 am, Sensex was trading at 78,744.55 after gaining 271.68 points or 0.35 per cent, while the Nifty was trading at 23,812.50 after gaining 84.85 points or 0.36 per cent.

    The market trend remained positive. On the National Stock Exchange (NSE), 1,142 stocks were trading in green, while 795 stocks were in red.

    According to experts, “the market will be expecting both fiscal and monetary stimulus. These expectations can keep the market in a consolidation phase in the near-term.” “The market reaction after the Budget and monetary policy will depend on the policy initiatives,” they added.

    Nifty Bank was up 400.60 points or 0.78 per cent at 51,633.60. Nifty Midcap 100 index was trading at 57,104.90 after rising 47 points or 0.08 per cent. Nifty Smallcap 100 index was at 18,765 after rising 32.35 points or 0.17 per cent.

    Sensex snaps 3-day losing streak on rebound in FMCG and Pvt Bank shares

    Akshay Chinchalkar of Axis Securities said, “The Nifty fell for the sixth day in seven, as early session gains failed to stick. Monday’s bullish harami formation wasn’t activated on Tuesday as prices failed to take out the prior day’s high.”

    “The first two trading days of the week have generated successive candles with long shadows showing indecision continues to prevail. Technically speaking, the 23,880-24,070 area offers resistance while support lies between 23,500 and 23,640,” he noted.

    On the sectoral front, selling was seen in the Realty, Pharma, FMCG, IT and Media sectors. In the Sensex pack, SBI, Kotak Mahindra Bank, ICICI Bank, Axis Bank, Maruti Suzuki, HDFC Bank, ITC, IndusInd Bank and Adani Ports were the top gainers.

    Asian Paints, TCS and Reliance were the top losers. Markets in the US were closed on Wednesday on account of Christmas. The S&P 500 added 1.10 per cent to 6,040 and the Nasdaq gained 1.35 per cent to close at 20,031.13 on Tuesday.

    In the Asian markets, except Jakarta, China, Bangkok, Seoul and Japan were trading in green. Foreign institutional investors (FIIs) sold equities worth Rs 2,454.21 crore on December 24, while domestic institutional investors bought equities worth Rs 2,819.25 crore on the same day.

    (With inputs from IANS)