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[ad_1] A federal rule that took effect on Tuesday will largely consign one of the world's great inventions — the incandescent light bulb — to the technological dustbin. The rule from the U.S. Department of Energy bans the production and sale of traditional light bulbs in the U.S., encouraging consumers to switch to newer, more efficient LED lights.  Using LEDs can help conserve both the environment and consumers' money, according to the agency. American households could save roughly $100 a year, or a total of $3 billion, by completely phasing out incandescent bulbs in their homes, the DOE's projections show. The switch could also reduce carbon emissions by 222 million metric tons over 30 years, the Department of Energy said in a  statement  after passing the rule last spring.  LEDs outshine on price and durability LEDs, or light-emitting diodes, are lighting products that pass an electrical current through a microchip, which illumin...

[ad_1] ISLAMABAD: The interim government has finalised its strategy to revive the economy, focusing on increasing taxes on key sectors, reducing pro-growth and general expenditures, and ending distortions in the energy sector through price adjustments and privatisation. The Economic Revival Plan, spearheaded by Dr Shamshad Akhtar’s finance ministry, proposes a comprehensive fiscal consolidation of over 3% of the GDP or Rs3.2 trillion for the current fiscal year, as per government sources. This consolidation is intended to be achieved by eliminating tax exemptions worth Rs1.3 trillion and realising savings of Rs1.9 trillion in expenditures, including returning government funds to the central bank account. The government has also introduced a wealth tax on movable assets. In the medium term, the Federal Board of Revenue (FBR) has put forward a plan to increase tax collection to Rs13 trillion within two years by elevating the current low tax-to-GDP ratio to 15% by the end of the...

[ad_1] ITR Filing: About 5.83 crore income tax returns were filed as on July 31 last year, the last day for filing returns for assessment year 2022-23. Acting as consolidated tax credit system, Form 26AS plays an important role in all the tax payments made on your behalf by your employer or clients. Form 26AS is something you should be aware of if you are a person or a business submitting tax returns . Form 26AS, which serves as a unified tax credit system, is essential in all tax payments made on your behalf by your company or clients. It contains important information regarding Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) from various income sources such as banks and employers. What is the significance of Form 26AS, and why should you pay attention to it before completing your income tax returns? Let us dissect it and grasp its significance: Form 26AS is like an annual statement provided to taxpayers by the Income Tax Department. It’s a summary of your tax info...