If you are planning to rent a house, you must know about the house rental agreement. A rental agreement is an essential legal document that defines the rights and responsibilities of both the tenant and the property owner, ensuring transparency and preventing disputes.Key Highlights:Tenants and owners must execute a rental agreement to prevent disputes and safeguard both their rights.Rental agreement format provides the general clauses to be included in the agreement.If the rent agreement period is more than 12 months, it must be registered at the Sub-Regisrar's office.What is a Rental Agreement?The rental agreement is an official agreement entered between the tenant and owner of a property. A rental agreement contains basic details of the residential property, property owner, tenant, term/ duration of the rental period, and the amount of the rent for the said term. Tenant is the person who wishes to take temporary possession of the owner's property by paying the rental amount.The tenant can stay/use the property of the owner for the time mentioned in the rental agreement. The rental or rent agreement must be drafted on stamp paper for it to be legally valid.  Rent Agreement FormatA rental agreement format is a standard template that outlines the terms and conditions agreed upon between the landlord and the tenant. It includes essential clauses such as details of the property, rent amount, payment terms, security deposit, duration of stay, maintenance responsibilities, restrictions, and termination rules.A valid house rental agreement format must be printed on appropriate stamp paper, signed by both parties, and witnessed by two individuals. If the agreement exceeds 11 months, it must be registered at the Sub-Registrar’s office to be legally enforceable.Download Rent Agreement Format SampleDownload Rent Agreement Format SampleTypes of Rental Agreements Commonly Used in IndiaThere are 3 types of rental agreements in India: I. Rent Agreement Tenancy or rent agreement is a basic contract between landlord and tenant for temporary possession of a property.Duration: Typically 11 months and can be renewed at the end of the period (If more than 11 months, registration is mandatorily required).Key points:Covers details like names, property description, rent amount, late fees, grace period, security deposit, facilities, parking, repairs, insurance, etc.Concise and hassle-free.Registration is optional if tenure is less than 11 monthsII. Lease Agreement Lease agreement is a more formal contract for longer occupancy (usually over 12 months).

An Aadhaar card date of birth change is important when there are errors or discrepancies in the details recorded with the Unique Identification of India (UIDAI). The UIDAI has made date of birth change in Aadhaar card documents easy through authorised Aadhaar Seva Kendras.Key Highlights:Aadhaar card date of birth change cannot be done online.The update fee is Rs. 50 per request.You must submit a valid Date of Birth proof (such as Birth Certificate, Passport, or Govt. ID).Aadhaar card date of birth change can be done only once, except through UIDAI’s exception handling for special cases.Updates are processed within 90 days, and status can be tracked online using URN.How to Change DOB in Aadhaar Card?For Aadhaar card date of birth change, you need to visit the nearest Enrollment Centre with the required documents mentioned below. Below is a step-by-step process for date of birth change in Aadhaar card documents:Step 1: Visit your nearest Aadhaar Enrolment Center.Step 2: Fill out the Aadhaar Enrolment and Update Form. Step 3: Submit the form with the proof of Date of Birth.Step 4: To authenticate your identity, you must provide your biometrics.Step 5: You will receive a receipt containing the URN (Update Request Number).

The Union Budget 2026 was presented in Parliament today, February 1, by Finance Minister Nirmala Sitharaman. It sets out the government’s fiscal priorities, and proposed tax and policy measures. The Union Budget 2026 also details expenditure plans and key announcements across sectors for the coming financial year. The Finance Bill, 2026 contains the legislative proposals to give effect to the tax and other measures announced in the Union Budget.Budget 2026 SummaryThe government reaffirmed its commitment to fiscal consolidation. The fiscal deficit has been reduced to 4.4% of GDP (RE 2025–26) and budgeted at 4.3% for 2026–27.Public capital expenditure has been increased to ₹12.2 lakh crore for FY 2026–27.The government accepted the 16th Finance Commission recommendation to retain 41% vertical devolution, with ₹1.4 lakh crore grants to states.A new Income Tax Act, 2025 will come into effect from 1 April 2026 to simplify direct tax laws.The Union Budget 2026 government schemes are aligned with the long-term vision of Viksit Bharat 2047.Significant thrust was given to infrastructure, with continued high public capital expenditure and new transport and logistics initiatives.Manufacturing and MSMEs received focused support through sector-specific schemes, equity funding and credit facilitation measures.Reforms were announced to simplify corporate taxation, including changes related to MAT and buyback taxation.Measures were introduced to promote exports, including customs duty rationalisation and support for key export sectors.Digital, AI-led and technology-driven initiatives were announced across agriculture, education and governance.The Budget emphasised employment generation and skilling, especially for youth, women and marginalised groups.Tourism, culture and heritage received renewed focus through new circuits, infrastructure and skill development programmes.*RE - Revised EstimatesFollow all the Latest Union Budget 2026 Updates here:1 Feb 2026, 12:35 PMClearTax Founder and CEO, Archit Gupta, highlights that Budget 2026 improves ease of compliance for global Indians by simplifying TDS on NRI property sales and removing the need for a TAN for resident buyers. He also notes that the reduction in TCS to 2% on overseas education, medical treatment, and travel improves cash flow for families with international expenses.1 Feb 2026, 12:25 PMFish catch by Indian vessels in the EEZ and on the high seas will be allowed duty-free, and landing of such fish at foreign ports will be treated as exports.1 Feb 2026, 12:24 PMFor goods without compliance requirements, Bill of Entry processes will be fully automated.1 Feb 2026, 12:22 PMCustoms duty exemption on capital goods used for manufacturing lithium-ion cells will be extended to battery energy storage systems.Customs duty exemption for imports required for nuclear power projects will be extended until 2035 and expanded to cover all nuclear plants, regardless of capacity.Customs duty exemption has been proposed on capital goods required for processing critical minerals in India.The full value of biogas will be excluded while calculating central excise duty on biogas-blended CNG.Customs duty will be exempted on components and parts used in the manufacture of civilian training and other aircraft.Customs duty will be exempted on raw materials imported for defence aircraft maintenance, repair and overhaul (MRO).Customs duty will be exempted on specified parts used in the manufacture of microwave ovens to enhance value addition in electronics.1 Feb 2026, 12:20 PMThe customs tariff structure will be further simplified to support domestic manufacturing, promote exports and address duty inversion.Certain customs duty exemptions will be withdrawn for goods already manufactured domestically or where imports are negligible.Effective duty rates will be incorporated directly into the tariff schedule instead of being specified through separate notifications.The duty-free import limit for specified inputs used in seafood exports will be increased from 1% to 3% of the previous year’s FOB export value.The export time limit for leather, textile garments, leather or synthetic footwear and related products will be extended from six months to one year.Duty-free import benefits will be expanded to additional exports in the leather and synthetic footwear sectors.1 Feb 2026, 12:16 PMThe tariff rate on personal dutiable goods has been reduced from 20% to 10%.1 Feb 2026, 12:15 PMSales by SEZ manufacturing units will be allowed in the domestic tariff area at concessional rates to improve capacity utilisation.1 Feb 2026, 12:14 PMCustoms duty has been exempted on sodium antimonate used in the manufacture of solar glass.1 Feb 2026, 12:12 PMSet-off of brought-forward MAT credit will be allowed only under the new tax regime, subject to a maximum of one-fourth of the tax liability.MAT credit accumulation will not be permitted from 1 April 2026, with MAT becoming the final tax.The MAT rate has been reduced from 15% to 14%.Existing brought-forward MAT credit will be fully allowed for set-off. 1 Feb 2026, 12:11 PMEquity Futures: STT increased from 0.02% to 0.05% Equity Options (Buy): STT increased from 0.10% to 0.15%.Equity Options (Sell): STT increased from 0.125% to 0.15%.Equity Delivery: STT remains unchanged at 0.15%.Intraday (Cash): STT continues at 0.025%1 Feb 2026, 12:10 PMThe definition of “accountant” will be rationalised for the purposes of safe harbour rules.Buyback of shares will be taxed as capital gains for all categories of shareholders.Promoters will be subject to an additional buyback tax, at 22% for corporate promoters and 30% for non-corporate promoters.1 Feb 2026, 12:09 PMNRIs paying tax under the presumptive taxation scheme have been exempted from Minimum Alternate Tax (MAT).1 Feb 2026, 12:07 PMThe fast-track timeline for Advance Pricing Agreements has been set at two years, with an extension of up to six months.A tax holiday has been announced for foreign companies providing cloud services, extending up to 2047.1 Feb 2026, 12:06 PMAll services will now be clubbed under a single category of IT services.The turnover threshold for information technology services has been increased from ₹300 crore to ₹2,000 crore.A safe harbour margin of 15.5% has been prescribed for IT services.1 Feb 2026, 12:04 PMDeductions have been announced for cooperatives engaged in the supply of cattle feed and cotton seeds.Dividend income of cooperatives will be exempt, subject to specified conditions.A three-year exemption on dividend income has been provided for eligible cooperatives.1 Feb 2026, 12:03 PMUpdated returns will be permitted even after reassessment proceedings have been completed.Penalties for failure to get accounts audited will be converted into fees.1 Feb 2026, 12:01 PMA one-time six-month foreign asset disclosure scheme has been proposed to address practical issues faced by small taxpayers, including students, young professionals, tech employees and relocated NRIs.The scheme will apply to two categories of taxpayers:Taxpayers who did not disclose overseas income or assets.Taxpayers who disclosed overseas income and paid due tax but did not declare the acquired asset.For Category A taxpayers, the limit for undisclosed income or assets will be up to ₹1 crore.Tax will be payable at 30% of the fair market value of the asset or undisclosed income.An additional 30% will be payable as income tax in lieu of penalty.Taxpayers availing the scheme will receive immunity from prosecution.1 Feb 2026, 12:00 PMA one-time six-month foreign asset disclosure scheme has been proposed for small taxpayers to disclose overseas assets and income below a specified threshold.1 Feb 2026, 11:59 AMThe due date for filing ITR-3 and ITR-4 has been set as 31 August.The due date for filing ITR-1 and ITR-2 for individuals will continue to be 31 July.The due date for audit cases will be 31 August.1 Feb 2026, 11:58 AMTDS on manpower services has been clarified to be deducted under Section 194C at rates of 1% or 2%, as applicable.A scheme for small taxpayers will allow issuance of a nil deduction certificate through a rule-based automated process, without filing an application.The time limit for filing a revised return has been extended up to 31 December, with a penalty.1 Feb 2026, 11:57 AMThe New Income Tax Act, 2025 will come into effect from 1 April 2026.The TCS rate on the sale of overseas tour packages has been reduced from 5% to 2%.The TCS rate under the Liberalised Remittance Scheme (LRS) has also been reduced from 5% to 2%.1 Feb 2026, 11:56 AMNon-debt receipts are estimated at ₹36.5 lakh crore.The fiscal deficit is budgeted at ₹11.7 lakh crore.1 Feb 2026, 11:56 AMThe fiscal deficit reduction commitment has been met, with the revised estimate for 2025–26 at 4.4% of GDP, below the 4.5% target, and the Budget Estimate for 2026–27 projected at 4.3% of GDP.1 Feb 2026, 11:55 AMThe debt-to-GDP ratio is projected to decline from 56.1% in the Revised Estimate for 2025–26 to 55.6% in the Budget Estimate for 2026–27, moving towards a target of 50% by 2030–31.1 Feb 2026, 11:54 AMThe government has accepted the 16th Finance Commission’s recommendation to retain the vertical share of tax devolution at 41%.Grants worth ₹1.4 lakh crore have been provided to states for FY 2026–27, including allocations for rural local bodies, urban local bodies and disaster management.1 Feb 2026, 11:52 AMA scheme will be launched to develop Buddhist circuits in northeastern states — Arunachal Pradesh, Sikkim, Assam, Manipur, Mizoram and Tripura — focusing on preservation of monasteries and temples, and improving pilgrim amenities and connectivity.1 Feb 2026, 11:51 AMPurvodaya integrated east coast corridors have been announced.

Union Budget 2026 Update:Services-led growth, global trade integration, and inclusive development under Sabka Sath, Sabka Vikas are reaffirmed as core pillars of Viksit Bharat 2047, as reflected in the focus areas of Union Budget 2026 government schemes.A High-Level Committee on Banking for Viksit Bharat is proposed to align banking sector reforms with India’s next phase of growth.NBFC reforms are positioned within the Viksit Bharat vision, with restructuring of public sector NBFCs to improve scale and efficiency.Expansion of freight corridors and national waterways to reduce logistics costs and improve integration of markets.It is proposed to restructure the Power Finance Corporation (PFC) and the Rural Electrification Corporation (REC) to improve efficiency and scale.A High-Powered “Education to Employment and Enterprise” Standing Committee is proposed to position the services sector as a core driver of Viksit Bharat, with a target of achieving a 10% global share in services by 2047.Viksit Bharat 2047 is the Government of India’s vision to transform the country into a developed nation by 2047, marking 100 years of independence. It focuses on inclusive growth, innovation, sustainability, and good governance, ensuring prosperity for every section of society. Citizens can also share ideas for Viksit Bharat 2047 through the MyGov portal.Key Highlights:Target Year: By 2047, India’s centenary of independence.Core Pillars: Youth, poor, women, and farmers.Economic Goal: $30 trillion economy in two decades.Priority Areas: Education, healthcare, infrastructure, sustainability, technology, social welfare.Participation: Citizens can register ideas via MyGov portal.What is Viksit Bharat 2047?'Viksit Bharat' means 'Developed India.' Viksit Bharat 2047 is the government’s vision to drive the mission of making India a completely developed nation by its 100th anniversary of independence in 2047. The vision is based on four pillars: Yuva (Youth), Garib (Poor), Mahilayen (Women), and Annadata (Farmers).Objectives of Viksit Bharat 2047 Viksit Bharat's primary goal is to transform India into a developed nation by 2047 through inclusive economic participation for all citizens. It aims to take India's economy to $30 trillion within just two decades. The following measures were announced in earlier Union Budgets in alignment with the Viksit Bharat 2047 vision:Income Tax Reforms: To generate domestic demand and accelerate economic growth, the government has raised the personal income tax exemption limit to ₹12 lakh from ₹8 lakh.

The LRS full form is Liberalised Remittance Scheme. The Liberalised Remittance Scheme by the RBI allows resident Indians to remit up to USD 250,000 annually abroad for education, travel, healthcare, gifts, and investments. Budget 2025 revised the LRS scheme with a higher TCS-free threshold, making global financial transactions easier.Budget 2026 UpdateThe TCS on LRS for Health and Education has been reduced to 2% from the existing 5%.The TCS on overseas tour packages has been reduced to 2% without any amount stipulation from 5% & 20%. What is LRS?The LRS full form is Liberalised Remittance Scheme. It is a foreign exchange policy initiative introduced by the Reserve Bank of India in 2004. It intended to simplify and streamline the process of remitting funds outside India. This scheme helped Indians overcome international fund transfer restrictions as set by the FEMA (Foreign Exchange Management Act), 1999. Under LRS, resident individuals can freely remit funds up to a certain limit for various permissible transactions involving a current or capital account.LRS Scheme for NRIsThe LRS scheme applies to the residents of India, and thus, the remittance takes place through a savings account. Non-Residential Indians are not supposed to have any savings accounts in Indian banks.

The Finance Minister, Smt. Nirmala Sitharaman, presented the Union Budget 2026–27 on 1 February 2026. The Union Budget 2026 proposes several new government schemes. The Union Budget 2026 government schemes cover key sectors impacting households, livelihoods, and public services.Budget 2026 Key HighlightsNew government schemes announced across agriculture, healthcare, education, and infrastructure.Employment and skill development positioned as core priorities.Focused support for farmers, women, youth, MSMEs, and rural regions.Higher public investment in infrastructure and regional development.Strong emphasis on sustainability.Key Themes of Union Budget 2026 Government SchemesUnion Budget 2026 government schemes are built around a few core priorities that guide policy decisions, sectoral interventions, and public spending for FY 2026–27.Economic Growth: Schemes focus on manufacturing, MSMEs, infrastructure, logistics, and services to accelerate productivity-driven growth.Employment and Skill Development: Government initiatives prioritise job creation through healthcare, education, tourism, creative industries, and services.Agriculture and Rural Livelihoods: Schemes aim to increase farmer incomes through high-value crops, fisheries, animal husbandry, and AI-based advisory systems.Inclusive and Regional Development: Budget 2026 targets women, youth, Divyangjan, Tier-2 and Tier-3 cities, temple towns, eastern India, and the North-East.Sustainability and Green Growth: Initiatives promote clean energy, sustainable transport, inland waterways, carbon capture, and eco-friendly tourism.Full List of Major Government Schemes Announced in Budget 2026Union Budget 2026 government schemes across key sectors will drive growth, employment, and inclusive development.1. Agriculture & Rural DevelopmentBharat-VISTAAR: A multilingual AI-based platform will integrate agricultural resources and provide customised advisory support to farmers.Reservoir Development Scheme: The government will support the integrated development of 500 reservoirs and Amrit Sarovars to strengthen fisheries and water resources.High-Value Agriculture Support: Targeted schemes will support the cultivation of coconut, cashew, cocoa, sandalwood, almonds, walnuts, and pine nuts.Coconut Promotion Scheme: A dedicated scheme will be implemented to enhance coconut production and productivity.Animal Husbandry Entrepreneurship Support: A credit-linked subsidy programme will promote entrepreneurship, modernise livestock enterprises, and expand veterinary infrastructure.2.

The new Aadhaar app was launched by UIDAI for faster and more secure digital Aadhaar verification. It is designed to replace many day‑to‑day Aadhaar verification needs without sharing photocopies or Aadhaar numbers. The new Aadhaar mobile app uses features like Face ID, QR‑based offline verification, and consent‑based data sharing.Key HighlightsA single app can manage up to five Aadhaar profiles, introducing the “One Family – One App” concept.The app allows selective sharing of Aadhaar details which ensures that only required information is disclosed.The app is built around data minimisation and DPDP Act principles, thus reducing long‑term Aadhaar data storage by verifiers.Offline QR‑based verification makes Aadhaar usable even in no‑internet or low‑connectivity environments.UIDAI Launched New Aadhaar AppUIDAI has officially launched the new Aadhaar app as part of the Government of India’s push towards secure and paperless digital identity verification. The app is built on data minimisation and Digital Personal Data Protection (DPDP) Act principles. It ensures that only limited, purpose-specific Aadhaar details are shared during verification.The new Aadhaar app uses advanced security layers and works even without active internet.

The Economic Survey 2025–26 presents the Government of India’s official assessment of the country’s economic performance, structural challenges, and policy priorities in FY 2025–26. It was tabled in Parliament on 29 January 2026, ahead of the Union Budget 2026. What is the Economic Survey 2026?The Economic Survey is an annual report prepared by the Chief Economic Adviser to the Government of India and tabled in Parliament before the Union Budget. It serves as a factual backdrop to the Union Budget 2026. It provides:A review of macroeconomic and sectoral performanceAn assessment of fiscal, monetary, and external sector developmentsA medium-term economic outlookPolicy frameworks and structural reform prioritiesEconomic Survey 2026 PDF DownloadThe official Economic Survey 2025–26 PDF includes detailed statistical tables, charts, and chapter-wise assessments of India’s economic performance and policy framework. The survey is released on the official India Budget website of the Ministry of Finance.India’s Economic Growth OutlookThe Survey notes that India continues to remain among the fastest-growing major economies. Growth during FY26 was primarily supported by domestic consumption and investment demand. Public capital expenditure increased more than threefold between FY20 and FY25, rising from ₹3.4 lakh crore to ₹10.5 lakh crore. Services remained the largest contributor to Gross Value Added (GVA).Private consumption growth was supported by low inflation, rising real incomes, stable employment conditions, and tax rationalisation.Investment momentum remained strong due to high public capital expenditure and improving private sector balance sheets. External demand remained stable, with services exports offsetting global trade uncertainty.Looking ahead, the Survey projects real GDP growth for FY27 in the range of 6.8%–7.2%. Medium-term potential growth is assessed at around 7%, supported by reforms, infrastructure investment, and productivity gains.Summary of the Economic Survey 2026The Economic Survey 2025–26 provides a sector-wise assessment of India’s economic performance using official statistics, programme-level data, and implementation outcomes across the economy.Consumption and Investment TrendsPrivate Final Consumption Expenditure (PFCE) rose to 61.5% of GDP, the highest level since FY12.

LIC policy surrender means discontinuing the policy before its maturity and claiming the surrender value of LIC policy. Once surrendered, all benefits, coverages, and bonuses under the plan cease immediately. Understanding how to surrender LIC policy is important as the process requires specific forms, documents, and eligibility conditions.Key HighlightsThe policyholder receives a surrender value after at least 3 years of premium payments.Surrender value is calculated using a formula with sum assured, bonuses, and surrender factors.Policies can be surrendered offline at an LIC branch or online via the LIC portal.Required documents include Form 5074, original policy bond, ID proof, PAN, and bank details.What is LIC Policy Surrender?LIC policy surrender is the voluntary termination of a life insurance policy before maturity. The coverage stops immediately, and the policyholder gets back a lump sum known as the surrender value. The surrender value of LIC policy represents the paid-up value plus accumulated bonuses (if any) after deducting applicable charges. Most LIC policies acquire a surrender value only after 3 full years of premium payment.Types of Surrenders in LIC PolicyHere are some of the common ways of LIC policy surrender:Full SurrenderThis is when the policyholder chooses to completely cancel their ongoing policy. The policyholder won't need to pay premiums anymore and won't receive any policy benefits or claims in the future. Depending on the type of policy, LIC will make the pay-out which is typically a certain percentage of premiums paid, after the deduction of applicable surrender charges.Special SurrenderIt is applicable in a few exceptional situations where LIC sets specific terms for surrendering the policy. The value differs from standard surrender value of LIC policy. These situations may involve severe financial difficulties, unexpected events or serious illnesses, where LIC offers reduced charges or a better surrender value.Surrender as a Result of No Payment of PremiumsIf a policyholder is unable to pay premiums and renew the life insurance policy within a specified grace period, it will be treated as surrendered. If the policy has got a surrender value, he or she will receive the amount as per the agreed terms. If the policy has not got a surrender value, no such pay-outs would occur.How to Surrender LIC Policy Online Before Maturity?Here is how to surrender LIC policy online before maturity:Navigate to the LIC’s official portal and sign in using your credentials.Under the “Customer Services” tab, select “Policy Surrender”.Then, download the Surrender Discharge Voucher (LIC Form No. 5074).Fill it up carefully and submit the same along with the necessary documents to LIC.Once the form is accepted, the surrender process will start.The surrender value will be deposited into your registered bank account.How to Surrender LIC Policy Offline?Here is the step-by-step guide on how to surrender LIC policy:To start with, visit your nearest LIC branch and obtain Form 5074, also known as the Surrender Discharge Voucher.Upon completion, the form along with the necessary documents must be submitted.Following submission, LIC will process your policy surrender request.Upon approval, the surrender value will be transferred to your bank account.Alternatively, instead of visiting a branch, you can opt to courier the discharge voucher and other necessary documents to LIC's head office in Mumbai.Documents Required to Surrender LIC PolicyHere are some of the documents required if the policyholder chooses LIC policy surrender:Policy surrender application formForm 5074: surrender discharge voucherCancelled cheque for providing policyholder's bank account detailsOriginal policy bondNEFT mandate form PAN Card copyHow to Calculate the Surrender Value of LIC Policy?You can opt for LIC policy surrender only if you fulfil certain criteria such as payment of policy premium consecutively for 3 years.

Indians often buy gold from Dubai because of its lower prices and superior purity. The Indian Customs Act strictly defines how much gold is allowed from Dubai to India and what duties apply when you cross the duty-free limit. Understanding the gold limit from Dubai to India helps travellers avoid penalties, confiscation, and delays at Indian airports.Key HighlightsDuty-free gold limit:Men: 20g (up to ₹50,000)Women: 40g (up to ₹1,00,000)Children (<15 years): 40gYou can bring up to 1 kg of gold after paying customs duty (if you stayed abroad ≥ 6 months).Customs duty ranges from 3% to 10% for baggage exemptions and 13.7% on gold bars/coins under the standard rate.Indian Customs Rules for Importing Gold into IndiaIndian Customs permits passengers of Indian origin and Indian passport holders to bring gold from Dubai under baggage rules. The applicable limits and duty concessions depend on:Gender and age of the passengerDuration of stay abroadForm of gold carried (jewellery, coins, or bars)Gold dust, powder, or scrap is not permitted. Any gold exceeding the duty‑free limit must be declared at the Red Channel on arrival.Type of Gold PermittedIndians can carry gold from Dubai in the following two forms:Gold barsGold coinsGold Carrying Limit from Dubai to IndiaAs per the Central Board of Indirect Taxes and Customs, Indian travellers can bring up to 1 kg of gold in baggage from Dubai upon staying there for more than six months after payment of duty.