Union Finance Minister Nirmala Sitharaman on Feb 13 tabled the new Income Tax Bill in the Parliament. This was a landmark move as the entire 64-year-old income tax law was overhauled and the older complex provisions were made simpler and lucid amid much fanfare. One of the key arguments given by the Finance Minister was […]
Mutual funds have increasingly become extremely popular among retail investors for wealth creation. The latest data for Jan 2025 revealed by the Association of Mutual Funds in India (AMFI) shows that the total assets held by individual investors rose by over 30 percent in the past one year. Sample this: Individual investors held ₹41.43 lakh […]
New Delhi, Feb 22 (PTI) Industry body Amfi has launched three initiatives — SIP for smaller investments, Tarun Yojana to encourage young investors, and MITRA to help track and recover forgotten investments. These initiatives align with markets regulator Sebi and Association of Mutual Funds in India’s ongoing efforts to democratise mutual fund investments, ensuring wider […]
Fans of horror movies will get all the satisfaction of scary demons and exorcism rituals. Fans of K-dramas will watch the beautiful actors emote in closeups as well as the mystical tradition and practices of shamanism and witchcraft in Korea. Add the mysteries of Tarot and the director’s ability to create a mood in a […]
Recently, Rattan Dhillon of Chandigarh, a State Bank of India (SBI) credit cardholder, brought to light an aggressive recovery message he had received from an SBI agent for a minor unpaid credit card balance on social media platform X. Dhillon called the agent’s conduct intolerable and urged the bank to extend an apology. Claims made […]
TheGen Z have started to realise that they can generate income without working full-time through passive income. It seems like a scenario wherein you generate income while sleeping so that you can spend time on travelling or pursuing personal interests. By following a well-planned approach, these goals can be achievable. 1. Dividend investing The dividends […]
A high credit score offers much more than numerical value because it functions as a gate to better financial prospects together with financial independence. Credit scores determine approval rates on loans together with interest rates and prices of property rentals and potential job availability. Acquire financial stability by understanding the fundamental procedures which will help […]
Are you planning to raise a personal loan and before you opt for it, you realise that you already have a pre-approved loan offer. Now you are in a dilemma as to whether you should grab it or let it go. Typically, a pre-approved loan offer charges a higher rate of interest since it is given against […]
Life Insurance Corporation of India (LIC) has rolled out LIC New Smart Pension Plan. It is a non-participating, non-linked, individual, savings, immediate annuity plan. The new single premium immediate annuity plan offers a wide range of annuity options, from which policyholders can choose the ones that suit their needs, according to the official website of […]
Personal loan is an advance given to someone in need i.e., needs money urgently. This is an unsecured form of borrowing which can be used for an array of purposes which include, but not limited to, emergencies, higher education, business, vacation, wedding, luxury and home renovation. Aside from these purposes, personal loans can also be used for […]
There are numerous potential reasons why a credit card application can be rejected, and the applicant is left confused. Knowing the reasons in advance can enhance your approval prospects the next time. It can also provide insights into things one should remember while applying for a credit card. Knowing these, you can take proactive steps […]
The deadline for availing of tax-saving benefits is March 31st. Complete your investments and payments before this date to maximise your savings. Employers encourage tax planning every year, yet many find it stressful due to a lack of understanding. With the end of the financial year (FY2024-25)approaching, those in the old tax regime must make […]
Despite an increase in systematic investment plan (SIPs) contributions, the stoppage ratio of SIPs, which stood at 52.3 per cent last year, has spiked to 109 per cent in January 2025. Against 56.19 lakh new SIPs registered, 61.33 lakh were discontinued last month. This means more SIPs were discontinued in January 2025 than new ones […]
Several new rules for FASTag will be implemented starting Monday, February 17, 2025, aimed at streamlining toll transactions. These changes, as outlined in circulars from the National Payments Corporation of India (NPCI), are designed to enhance the efficiency of toll payments and improve security. Here’s everything you need to know to avoid unnecessary deductions and […]
In 2023, new tax regime became a default regime which means the taxpayers must opt out of the new tax regime to be able to claim tax exemptions given under sections 80C, 80D and 80G, among others. The provision under section 80C enables taxpayers to claim deduction for investing in various financial instruments such as […]
The recent California wildfires have reignited global concerns about climate change and its role in intensifying natural disasters. Beyond the immediate devastation, they have also highlighted a growing crisis in the insurance industry. It is the rise of insurance deserts—regions where access to insurance becomes scarce or nonexistent due to extreme risk and unsustainable losses. […]
The income tax department has launched the utility to enable taxpayers to check the relevant provision of the new income tax Bill. The new income tax Bill was introduced in the Parliament on Thursday and it will now be referred to the Select Committee of Lok Sabha for further review. Meanwhile, the Lok Sabha proceedings […]
A new credit card fraud is in the works where scammers are posing as employees of the State Bank of India, asking unsuspecting customers to avail an offer to increase their credit limits. A Reddit user with the ID Fresh_Journalist5116 flagged the new scam, saying that his father almost fell for it. According to the […]
The first involves doing your homework (reading company reports, analysing mutual funds, keeping tabs on the economy) before deciding which stocks or funds to invest in. This may sound straightforward, but the reality is only a few are cut out for this kind of investing. For most, the second option is more realistic – outsourcing […]
Discovering unauthorized queries in your credit report is a gut punch. It can signal potential fraud and impact future access to credit. Time counts to protect your financial well-being. Here is how to tackle those suspicious entries: Notify the credit bureau immediately: Call your respective credit bureau directly. Report the unauthorized inquiries to them. Provide […]
New Income Tax Bill: Finance Minister Nirmala Sitharaman tabled the long-awaited bill for the new tax code in the Lok Sabha on Thursday, February 13. While the new bill is a significantly shorter version of the Income Tax Act of 1961, it mandates that assessees would have to share their computer “ access codes” with […]
Systematic Investment Plans (SIPs) continue to maintain strong momentum as a favored investment strategy, with contributions reaching nearly ₹26,400 crore in January 2025, just shy of the record ₹26,459 crore in December 2024. This marks a slight dip of only 0.2%. Meanwhile, equity mutual fund inflows saw a modest decline of 3.6% in January 2025, […]
Finance Minister Nirmala Sitharaman will introduce the new Income-Tax Bill 2025 in the Lok Sabha on February 13. The Bill aims to consolidate and amend the taxation laws of the country. “Smt. Nirmala Sitharaman to move for leave to introduce a bill to consolidate and amend the law relating to income-tax,” official list of business […]
The New Income Tax Law is set to become a reality soon. Union Finance Minister Nirmala Sitharaman will table the new legislation in Parliament on Thursday . Upon accesssing the first draft of the bill, we have realised that this is quite in line with what is being expected from it. It is certainly shorter, […]
Dividends are more than just a share of profits—they reflect a company’s commitment to shareholders and its approach to governance. Yet, balancing investor payouts with reinvestment for growth has always been a challenge. This debate has gained fresh relevance as India’s financial markets undergo a valuation correction amid sluggish economic growth. While long-term optimism about […]
Do you use a credit card regularly and happen to delay your bill payment at times? You should remember that the negative information with regards to your credit card and personal loan can stay on your credit report for longer than you can imagine. Not many may be aware that the information regarding default or […]
If you are taking a personal loan, all you are worried about is its repayment. It is vital to remember that a personal loan’s EMI hinges on two key factors: loan tenure and rate of interest. These two factors determine the loan EMI in the following ways: Rate of interest: The higher the rate of […]
In the past several years, a number of big and small changes have been made in the Income Tax Act, 1961. Its fallout is that an array of complexities, albeit unwittingly, have crept into it. The new income tax law, conversely, is likely to have them removed simply because it is a fresh piece of legislation […]
We are going to sell a house in my wife’s name. My wife and I had a joint home loan on the house which I paid fully. I did not claim any tax deduction on the home loan interest. At the time of sale, can my wife add the unclaimed interest to the cost of […]
Warren Buffett famously said: “Be fearful when others are greedy, and greedy when others are fearful.” If you were bullish in September 2024, there is no reason to be bearish now just because of the correction. A correction was due any which way, as valuations were stretched. Whichever parameter you take for valuation—price-to-earnings ratio (PE), […]
Three sisters inherited one piece of land in 2003, but it was partitioned among the sisters in 2010. For the indexed cost of the purchase in the calculation of long-term capital gain, should we take the market value as of 2003 (date of inheritance) or the market value as of 2010 (date when the inherited […]
The Reserve Bank of India’s Monetary Policy Committee (MPC) on Friday, February 8, decided unanimously to reduce the policy rate by 25 basis points to 6.25 per cent from 6.5 per cent. The central bank has decided to slash the key repo rate for the first time in nearly five years. The RBI also lowered […]
With the Reserve Bank of India (RBI) slashing the repo rate by 25 basis points to 6.25 per cent, interest rates on fresh loans are likely to decline. Notably, today’s repo rate cut was the first in nearly five years. With short-term funding available cheaply to banks, personal loans to retail borrowers could also see […]
It is a common belief that it is easy to make money in a bull market. Still, when the going gets tough, it becomes challenging to not only make money but to survive in the market. That is why the song quote: “When the going gets tough, the tough get going” by Billy Ocean needs […]
While the new tax regime trims down the deductions and exemptions available to taxpayers, it still offers several strategic benefits that can lighten the load for individual taxpayers. Here’s a breakdown of what you can still claim under the revamped system. Deductions For salaried individuals who opt for the new tax regime, there’s a standard […]
When you face some financial problem or hardship, you can explore the prospect of raising a personal loan. Typically, a personal loan is taken out for a number of reasons such as a medical emergency, buying a luxury item, renovating the house and even for travel. However, one should make sure that the personal loan amount […]
In today’s fast-paced, information-driven world, it’s easy to get obsessed with monitoring the performance of your mutual fund every single day. With apps and websites giving live updates, checking your investment’s performance has never been easier. But is this constant scrutiny really benefiting you? The answer may surprise you. In fact, it might be harming […]
I have two sisters and I am the only son of my parents. In 2010, my father and I jointly purchased a property in both of our names, with 70% of the funds provided by me. Later, with my parents’ approval, I transferred the corresponding share (based on the 30% paid by my father) to […]
When you take out a personal loan, one of the most important considerations is to check the monthly instalment to pay off your debt. In case you are wondering how you can lower your equated monthly instalment (EMI), you can use the personal loan EMI calculator to tweak your monthly instalment. You can do this […]
Valentine’s Day is a unique opportunity to express affection and gratitude towards your loved one. This can be done through well planned gifts. For the same it is crucial to carefully plan, budget and execute purchases so as to ensure successful results. Now to make the entire process successful it is important to determine spending […]
In the Union Budget 2025, Finance Minister Nirmala Sitharaman mentioned that the ‘nil income tax’ slab would be raised to ₹12 lakh; however, it is often misunderstood as a tax exemption or tax deduction. Here’s what it really means. What did FM Nirmala Sitharaman say? “To taxpayers up to Rs12 lakh of normal income (other […]
As the Indian economy evolves and moves towards becoming the third largest in the world after the US and China so are the aspirations and wishes of Indian youth. Having a car hence is now more than a status symbol. It adds convenience and elevates one’s lifestyle. In this ever evolving growth environment there are […]
I want to redeem equity mutual funds this financial year but keep gains under ₹1.25 lakh to avoid capital gains tax. How can I check the split between principal and gains before withdrawing? Is there a portal, app or website for easy calculation? —Name withheld on request While there is no specific portal or app […]
Budget 2025 has moved in a path that at once caters to the immediate requirements of the economy, while continuing on the path to investing for future growth, even while ensuring a tight leash on the fiscal deficit. Tax slab rationalisation to boost consumption, ease of taxation via higher thresholds for tax deductions (TDS and […]
Budget 2025: Union Finance Minister Nirmala Sitharaman announced the revision of tax slabs for taxpayers under the new tax regime. This has, undoubtedly, made the new tax regime even more attractive for the taxpayers. Does this mean that today’s Budget rang a death knell for the old tax regime? Let us understand whether the old […]
Budget 2025: In India, the maximum income tax rate is 30 percent for those in the highest income bracket before a surcharge of up to 25 or 37 percent depending on which regime (new or old) and a 4 percent cess on the combined figure. In Budget 2023, the government had cut down the maximum surcharge […]
The movie has more flash, more swagger than the dark Malayalam version where Prithviraj looks like he’s truly haunted by his loss of memory, and events there seem to be a tad more honest. Like all Haider and Udta Punjab fans, one expected Shahid Kapoor to add a little more ‘acting’ than just an awful […]
Hybrid mutual funds are funds that invest in multiple asset classes. Their investments constitute a collection of equity, debt, gold and even real estate. This kind of planned diversification while investing helps in managing risk and returns. Hence, ensuring both growth potential and stability making the case for them as solid investment options for 2025. […]
Are you looking to gift Mutual Fund units to your loved ones or simply consolidate your investments rejigging holdings between different accounts? Did you know that you can transfer or gift Mutual Fund units between Demat accounts? The latest episode of Mint Money Shots, presented by Invesco Mutual Fund, saw Deputy Editor at Mint, Neil […]
One of my friends is a dentist and has joined a private hospital. The hospital owner deposits his remuneration every month into his bank account. On submitting his proof for investments for section 80C, he is told that my friend is being treated as a consultant, not a regular employee. Since his tax liability comes […]
While the stock market is extremely volatile, some conservative investors are contemplating investing in mutual funds, thereby outsourcing their investing decisions to the experts. If you are also one of them, it is important to remember that one of the safest mutual fund categories, among equity, is large-cap funds. Although the average returns posted by […]
Getting a loan can be a time-consuming task and time is often not a luxury for most of us. Banks, therefore, sometimes give an option of availing an instant personal loan in cases where e-KYC is already complete. This means no sooner had you applied than you received an approval for it and the money was disbursed […]
What legal steps can my family take if someone challenges my will? -Name withheld on request Drafting a will is a time-tested and widely used method of succession planning, enabling individuals to transfer their assets to chosen beneficiaries in a manner they deem fit. A will allows you to clearly define the distribution of your […]
Switching jobs often brings excitement—a new role, better pay, fresh challenges. But it also comes with its share of challenges, and one of the trickiest is serving out your notice period. For many employees, the solution seems simple: allow the employer to deduct the penalty for skipping the notice, especially if the new company agrees […]
Income tax calculator: The new tax regime became a default tax regime in FY 2023, which means taxpayers are meant to pay income tax based on the new regime unless they opt out of it. They would do so only if they were told that the old tax regime would lead to lower taxes. However, […]
The flagship program of the Government of India, Pradhan Mantri Mudra Yojana (PMMY), aims to promote entrepreneurship among micro and small business owners and promote financial inclusion. Let’s look at the features, benefits, and application process of this scheme in more detail. What is Pradhan Mantri Mudra Yojana? MSEs trading, or even manufacturing/processing or involved […]
The United Kingdom’s (UK) top 100 taxpayers list revealed that the number one taxpayer in the country is not amongst the top celebrities like Ed Sheeran or JK Rowling, it is someone know to former British Prime Minister Rishi Sunak, reported the news portal The Sunday Times (UK). According to the news report, Sir Chris […]
Fixed deposits (FDs) for super senior citizens are designed to provide steady income at a higher interest rate compared to regular FDs. Several banks provide various FD schemes for super senior citizens at varied interest rates. India’s biggest lender, State Bank of India, offers the SBI Patrons scheme for super senior citizens. Who is a […]
If you are planning to take out a personal loan, it is recommended that you compare the interest rates charged by different banks so that you can get the best deal. The interest rate charged by a bank on a personal loan is typically a function of several factors such as the borrower’s credit score, […]
When the new income tax regime was introduced in 2021, people were taken aback by the lack of most deductions. However, the simplified tax regime made a lot of sense. Gone was the hassle of tracking investments, loans, or charitable contributions. Instead, taxpayers pooled their income, calculated tax liabilities, and filed returns with ease, embracing […]
Getting a credit card is only the first step in your journey to using it. You also need to get the card activated for carrying out online and contactless transactions and set the spend limits for it at the same time. Here, we share a step-by-step process for getting these activations done. Both these changes can be […]
Mutual funds have come a long way; the numbers speak for themselves. systematic investment plans, or SIPs, have quadrupled in the last eight years, and monthly inflows in December 2024 crossed ₹26,000 crore for the first time. All the buzz around equities and markets continuously performing well has attracted new investors to mutual funds. Among […]
New Delhi, Jan 23 (PTI) Overall demand continues to remain soft as inflation of food, educational and telecom expenses put pressure on disposable income of the average Indian, and steps to leave more money in their hands in the upcoming Budget will be a welcome move, Pidilite Industries Ltd Managing Director Designate, Sudhanshu Vats said […]
Paying your credit card bills on time is extremely important to keep a healthy credit score and get better deals on your future borrowings. HDFC bank offers a wide range of credit cards which are a popular choice amongst people as these cards provide exclusive offers on travel, shopping, entertainment and even daily transactions. You […]
There was a hue and cry after the Union Budget 2024-25 as the Centre increased the long-term capital gains (LTCG) tax on equity from 10% to 12.5%. However, since April 2023, the benefit of indexation has been taken away from debt-oriented mutual funds (MFs), and it is taxable at marginal slab rate (MSR). For most […]
Avir Tiwari’s wallet was so full that it couldn’t take it anymore. For the six-month-old boy, it wasn’t particularly a bad situation. However, his dad, Ekansh Tiwari, associate vice president of currencies at Natwest Group, certainly had a task on his hands. For, Tiwari had to find a way to lock the surprisingly large amount […]
How do I plan the smooth transition and safety of the estate that I have accumulated over my lifetime? -Name withheld on request The initial step in estate planning involves a thorough assessment of one’s assets and liabilities. This entails cataloguing all properties, business interests, investments, bank accounts, and personal possessions that comprise the individual’s […]
I am a resident Indian promoter of an Indian private limited company that manufactures and exports antique furniture. In 2015, my company allotted a small percentage of shares to a non-resident individual who assisted in securing export orders. I am now buying back his shares in my company. Will the payment made to him fall […]
IDFC FIRST Bank, in partnership with RuPay, has announced the launch of the UPI-enabled FD-backed secured credit card. Known as FIRST EARN, it is backed by fixed deposit, thus enabling everyone to avail it. It also offers cashback on UPI payments thus making the product rewarding for users. Additionally, fixed deposit creation is integrated within […]
As you enter your apartment, you unlock your phone again to find the app still showing the discount on the latest model of your 18-month-old phone. Without much thought, you click ‘Buy Now.’ Read this | Navigating – and optimising – the three phases of wealth creation What’s at play here is the “wealth effect,” […]
Investing in US stocks allows Indian investors to own a slice of the world’s most influential companies, while global exchange-traded funds (ETFs) provide an avenue to diversify portfolios beyond domestic markets. While India’s mutual fund (MF) industry has hit the Reserve Bank of India’s $7 billion cap for overseas investments, platforms such as Vested Finance, […]
Employees’ Provident Fund Organisation (EPFO) has launched a new feature for its members as employees can now change personal details like their name and date of birth online without any verification from their employer or approval from the EPFO, reported the news agency PTI on Saturday, January 18. The EPFO members who have e-KYC accounts […]
Kamath stepped down as head of fixed income of the mutual fund segment in 2023 to head the newly set-up alternatives business. According to a private presentation accessed by Mint, the AIF will only lend to financial services-related companies and is targeting an internal rate of return (IRR) of 11% to 14%. Franklin Templeton said […]
The Cabinet has approved the constitution of the 8th Pay Commission to revise salaries of Central government employees, Union Minister Ashwini Vaishnaw announced on Thursday. The announcement comes days ahead of Budget 2025. What is 8th Pay Commission? The 8th Pay Commission will revise the pensions, allowances, and salaries of central government retirees and employees. […]
Although Indians are increasingly adopting financial assets like stocks and mutual funds, they still have to go a long way in terms of prudent retirement planning, believes Sriram Iyer, the chief executive of HDFC Pension Management. Speaking at the 17th edition of Mint Annual BFSI Summit on Friday, he said that while financialization kept pace […]
Purchasing a car is a major financial commitment, and the idea of using a credit card for the payment may seem appealing, particularly if you’re aiming to earn rewards. While this method can offer benefits, it’s essential to weigh the pros and cons carefully. This blog will guide you through the important factors to consider […]
To address such scenarios, the Securities and Exchange Board of India (Sebi) has rolled out revamped rules that allow nominees to manage the accounts of physically incapacitated investors without requiring a power of attorney (POA). Announced on 10 January, these rules aim to provide families with a financial safety net. However, experts warn of limitations […]
Imagine you’re shopping for shoes on Amazon. You start with thousands of options but gradually narrow your search using filters like category, colour, size and material until you find the perfect pair. This process mirrors the concept of factor investing: using specific criteria, or factors, to filter and select investments. What are factor-based index funds? […]
I will be adding unclaimed interest on my home loan to the cost of acquisition. Should I add indexed cost or absolute cost of unclaimed interest while calculating capital gain? – Name withheld on request Various high court and tribunal decisions have favoured allowing unclaimed home loan interest to be included in the cost of […]
We are purchasing a property from an NRI, and the registration is scheduled for next week. As per the requirements, we need to deduct and deposit the TDS for this transaction, for which one needs to have a TAN (Tax Deduction Account Number). We do not have a TAN. Is there any provision to deposit […]
The importance of the housing sector to India’s gross domestic product (GDP) cannot be overstated. The major employment generator is expected to contribute 13% to the national GDP. With the Union budget being around the corner and the emphasis that the current dispensation is laying on the real estate sector, there is a lot of […]
If you somehow failed to file your income tax return (ITR) for any of the past two years, you can still file an updated income tax return. These two years are 2021-22 (AY 2022-23) and 2022-23 (AY 2023-24) for which taxpayers can still file their updated return before March 31, 2025, reveals the department’s website. Notably, the […]
The Reserve Bank of India (RBI) recently released a set of Frequently Asked Questions (FAQs) regarding a circular on resetting floating interest rates on Equated Monthly Instalment (EMI)-based personal loans. One of the highlights of the circular is that banks must give borrowers the option to switch the interest rate from floating to fixed at […]
Non-resident Indians play a vital role in India’s economic and social progress, significantly contributing to the country’s growth through remittances, investments, entrepreneurship, and international trade. As the Union Budget for 2025-26 approaches, NRIs will be looking for clarity on certain rules as well as incentives and reforms that could strengthen their contribution to India’s economic […]
Thailand recently launched two residency programmes that are gradually gaining popularity: the remote work visa and the wealthy pensioner visa for retirees. Here is a look at these options. Remote work visa: eligibility Thailand’s remote work visa or destination travel visa is for employees who still work from home. The visa applicant needs to show […]
The Employee Provident Fund Organisation (EPFO) has extended the deadline for activating the Universal Activation Number (UAN) and linking the bank account with Aadhaar to January 15, 2025. The original deadline for UAN activation was November 30, 2024, which was later extended to December 15, 2024. “Please see the circulars cited. In this connection, the […]
High-interest rate fixed deposits for super senior citizens: Super senior citizens (aged 80 and above) can earn significantly higher returns on their fixed deposits (FDs) than regular depositors. Several leading Indian banks, including SBI, RBL Bank, Union Bank of India, Indian Bank, and Punjab National Bank, offer attractive interest rates for those over 80. Who […]
I am a retired senior citizen. I have short-term capital gains of around ₹5 lakh till now on listed shares. My interest income is expected to be around ₹2 lakhs for the year. I have fully invested/spent over ₹1.50 lakh in avenues covered by Sec 80C. After a deduction of ₹1.50 lakh under Section 80C, […]
Tuition, living expenses and other fees rank among the many high costs associated with higher education. Education loans are an effective means for students to meet their objectives without ever having to consider money. This is a comprehensive guide on how to properly understand, apply for, and manage an education loan. Understanding education loan An […]
For those ready to step into this challenging but rewarding field, there are three key paths: obtaining a Mutual Fund Distributor (MFD) licence, registering as a Sebi Investment Advisor (RIA), or qualifying as a Sebi Research Analyst (RA). Each route offers distinct opportunities and challenges, shaping your role in India’s financial ecosystem. Read this | […]
One of the most important steps when using a credit card is making timely payments of bills. This is an essential tip for a credit cardholder to avoid interest costs and late payment fees. There are several ways to clear your credit card dues, one of which is using another credit card. It is one […]
Do you hold a credit card and plan to procure one more amid some confusion and doubts? If that is the case, then it is vital to remember that holding more than one card is not unwise as long as you use both rationally. One of the key advantages of having two or more credit […]
Are you planning to raise a personal loan and struggling to streamline your finances at the same time? Are you unsure as to how much tenure you should opt for to make a commitment for an EMI that you can afford to pay. Well, you are not alone in this dilemma. In such a scenario, […]
Prior to investing in a mutual fund, investors are advised to evaluate the performance of different schemes in the same category to gauge their historical performance. This not only gives investors a peek into the scheme’s historical performance but also tempers their expectations of its future performance. For instance, when a scheme, like a stock, […]
At the time of opening a fixed deposit, it is recommended to compare the interest rates offered by different banks. Although most banks offer somewhat similar rates, a marginal difference of 40-50 basis points can raise your wealth considerably. Another factor that helps accumulate wealth is the tenure for which the deposit is locked. For […]
India’s Unified Payments Interface (UPI) transactions rose to 16.73 billion in December 2024, National Payments Corporation of India (NPCI) data revealed. And this exponential rise has hit an unlikely target – it is killing the nation’s Toffee or candy business. UPI transactions rose 8 per cent month-on-month (MoM) to its December level, compared with 15.28 […]
Not being able to file an income tax return (ITR) before July 31, 2024, prevented Suresh Jain (name changed) from filing his ITR under the old tax regime, thus missing out on certain exemptions and carry-forward of losses to which he was entitled. Thanks to the condonation of delay, which was recently approved by the […]
The government’s Pradhan Mantri Svanidhi Yojana (PM Svanidhi Yojana) scheme was introduced in 2020 to support businesses affected by the COVID-19 pandemic. The idea was to make small traders and street vendors self-reliant. Under the scheme, the beneficiaries can avail a loan with an Aadhar card, without guarantee. How does it work? Initially, traders are […]
I worked with two different establishments from 2011 to 2015 and 2015 to 2016, respectively, for which I was assigned two different UANs and PF accounts. My current organisation, for the past eight years, does not have a provision for PF and, therefore, can not transfer the previous PF accounts. Is there an online process […]
The submission of income tax investment proofs for FY 2024-25 is generally due by March 31st, subject to deadlines, which may vary across organisations. Employers typically start collecting these proofs between January and March. The income tax investment proof submission process is essential for accurate tax computations and rebate claims. Employees must declare their planned […]
Best Mutual Funds: While Indian stock markets remain bullish, analysts point to small-cap mutual funds (MFs) as appealing investment possibilities. Some of these funds have generated alpha gains by consistently outperforming benchmark returns. While small-cap MF investments carry higher risks, the current market conditions, combined with these funds’ solid track records, make them compelling options. […]
With housing loan interest rates remaining reasonable over the years, many taxpayers have turned to loans to fund their residential property purchases. Tax laws, however, limit the deduction of housing loan interest for self-occupied properties to ₹2 lakh annually. For rented properties, the entire interest is deductible against rental income. This raises the question: is […]
Six months ago, Abhishek Kumar received a complaint against his company on SCORES, the online grievance redressal facilitation platform provided by the Securities and Exchange Board of India (Sebi). Strangely, the complaint was against Abhishek Chouhan. Kumar, a registered investment advisor, wrote to Sebi through the SCORES platform that “this complaint is not related to […]
Unified Payments Interface (UPI) transactions hit a record 16.73 billion in December 2024, shows data released by the National Payments Corporation of India (NPCI). This figure marks an eight percent increase as compared to November’s data, which recorded 15.48 billion transactions. NPCI also reported that the total value of transactions in December amounted to ₹23.25 […]
If you are planning to invest in mutual funds this year, one of the dilemmas you may face is choosing between active and passive mutual funds. With the benchmark index facing extreme volatility and having lost nearly 10 per cent off its peak, the scope of growth seems promising in this segment. It’s a different […]
NEFT, RTGS update: The Reserve Bank of India (RBI) will introduce the beneficiary account name look-up facility for the Real Time Gross Settlement (RTGS) System and National Electronic Funds Transfer (NEFT) System. The proposed facility will help rectify instances where the remitters transferred funds to the wrong beneficiary, thereby reducing the number of incorrect money […]
What would you say about an investment instrument that used to give 12 per cent interest a year and now offers only 7.1 per cent? Well, it doesn’t remain as a sought-after investment instrument as it did earlier. This is exactly what happened with public provident fund, or PPF as it is known among the […]
Funding higher education is one of the significant challenges for most students in India. Apart from good grades, it is equally important to have enough finances to fund your education. Most parents spend all their savings to fulfil their child’s dream. However, sometimes, the savings are not enough to cover education costs. The current financial […]
The government on Tuesday left the interest rates unchanged on various small savings schemes, including PPF and NSC, for the fourth straight quarter beginning January 1, 2024. “The rates of interest on various small savings schemes for the fourth quarter of FY 2024-25, starting from January 1, 2025, and ending on March 31, 2025, shall […]
Vivad Se Vishwas Scheme 2024: The income tax (I-T) department on Monday, December 30, extended the due date for determining the tax dues and filing declaration under the Vivad Se Vishwas scheme for waiver of interest and penalty, by a month, till January 31, 2025. The previous deadline for the settling income tax disputes under […]
The Income Tax (IT) Department of India, under the Ministry of Finance, issued a clarification on Monday, December 30, over concerns about news reports claiming that the tax regulator will use Digiyatra data to crack down on evaders. The regulator said that the IT Department has not made such a move to use the data […]
Q – Should a resident Indian having rental income from the US, take the benefit of depreciation and other reliefs allowed in the US and offer for tax on house property income on a net basis in India? —Name withheld on request No, a resident Indian earning rental income from a property located in the […]
But staying fit can be expensive. Here are some money hacks to enjoy a healthier lifestyle in 2025. Fitness goals Bengaluru-based Ajinkya Deshmukh, 37, who has been training for triathlon competitions, prefers cycling and swimming. “After getting an ACL tear (anterior cruciate ligament) in my left knee, I wanted to incorporate other exercises into my […]
Mutual fund investment: As we enter 2025, the growing preference for Systematic Investment Plans (SIPs) in the Indian mutual fund industry continues to gain momentum. The mutual fund industry had an incredible year in 2024, fuelled by a thriving market and rising investor confidence, despite the volatility of the equities markets. Because of their ease […]
The Reserve Bank of India (RBI) recently allowed the users of prepaid payment instruments (PPIs) to access UPI services via third party applications. This is seen as a commendable move which will give a massive boost to the digital payment ecosystem in India. In order to understand this, let us first understand the key differences […]
Investors like to chase returns because a higher return would mean a higher corpus. But is investing in a top-performing fund the only way to build a higher corpus? Well, not necessarily. Besides, it is practically impossible to always remain invested in a top-performing fund, because top performers change from time to time. Top performing […]
Do you know whether you have been accumulating HDFC credit card reward points? Exciting benefits such as travel discounts, cashback, and retail vouchers can be availed of with these points. Here’s a quick guide to help you get the most out of your hard-earned points and awards. What are credit cards? A credit card is […]
If you are planning to raise a personal loan then the bank would invariably ask you to submit several documents (unless it is a pre-approved loan) such as your salary slips, your bank statement and Aadhaar card, PAN, among others. Notably, if your documents indicate financial liquidity, the bank may even offer you loan at […]
Conservative investors who refrain from investing in equity tend to invest in financial instruments that give assured returns. These instruments include post office schemes or small savings schemes. There are a number of small savings schemes that offer tax benefits along with assured returns to investors. Investments in these schemes not only help create a […]
Mumbai: It’s that time of year when people plan fresh starts. While gym memberships are part of many people’s resolutions, some take a step back to review their investment portfolios. In fact, several people make it a habit to review their portfolios at the end of every year. But the question remains: how often should […]
Trump, who favours a friendly regulatory environment for digital assets, has also backed the idea of a strategic national Bitcoin stockpile. Though the cryptocurrency has shed some gains since then, the rally has reinvigorated investor interest in crypto trading. In India, platforms such as CoinDCX, CoinSwitch, Mudrex, Binance, and WazirX facilitate trading in […]
Thanks to the current volatility, retail investors are increasingly jittery about investing directly in the stock market. With benchmark indices already lower by 10 per cent from their all-time high, there are fewer reasons for investors to get exposure to equity than there were earlier. Typically, wary investors tend to opt for safer options such […]
The monthly instalments disbursements under the Ladki Bahin scheme in Maharashtra resumed on Tuesday after an interruption due to the model code of conduct. The instalments for the beneficiaries will be disbursed in phases, PTI reported, citing the Women and Child Development Minister Aditi Tatkare. The model code of conduct was enforced in the state […]
The Employees Provident Fund Organisation (EPFO) has extended the deadline for UAN activation and seeding of bank accounts to Aadhaar to avail the benefits under the ELI (Employment Linked Incentive) scheme to January 15. The earlier deadline for this was December 15 and the provident fund body has now issued a circular dated December 20 […]
Indian immigrants to the UK, just as the immigrants from other nationalities, are supposed to move from their physical residency permits to the digital visas, also known as e-visas. The United Kingdom is believed to be the only country in the world which has moved to digital only residency cards for non-citizens. Until now, the UK […]
The freelance economy in India has witnessed extraordinary growth, transforming from a niche working arrangement into a mainstream career choice. With more than 15 million active freelancers and an industry projected to reach $50 billion by 2032, the sector represents a significant shift in how Indians approach work. This rapid expansion has been particularly pronounced […]
Bhansali prefers an 11-month rental agreement as it doesn’t need to be registered. “It helps to save registration costs, as well as the hassles of making an agreement. If you make a two-year agreement and the tenant decides to leave in ten months or earlier, you again need to go through the process of registering […]
The Employees’ Provident Fund Organisation (EPFO) provides an online facility for submitting wage details by employers for pensions on higher wages. The EPFO has extended the date to submit the wage details to January 31, 2025. “A final opportunity is being given to the employers till 31.01.2025 to ensure that employers process and upload these […]
Cybercrime tricks: With the rising number of cybercrimes in the country, India’s largest bank, the State Bank of India, has issued an advisory outlining possible ways in which fraudsters can trick customers. 10 common cybercrime tricks TRAI Phone Scam: Some fraudsters may threaten to suspend your mobile services over allegations of illegal activities or KYC […]
Borrowers who find it difficult to repay personal loans can explore the prospect of a moratorium, a temporary period during which they are not supposed to make any payment. It is noteworthy that the moratorium affects loan repayment since interest keeps accruing, following which one has to pay the combined interest, thus pushing the EMIs […]
NRIs don’t even benefit from indexation, which adjusts the purchase price for inflation. Buyers must deduct tax on the total sale value. However, buyers can apply for a lower TDS certificate to reduce this amount. Besides, NRIs often face difficulties managing the property remotely. Tasks such as approving repairs, managing maintenance costs, or renewing rental […]
In India, healthy life expectancy at birth improved by 4.02 years from 54.1 years in 2000 to 58.1 years in 2021, according to statistics from the World Health Organisation (WHO). As average lifespans grow longer, securing a financially sound future for yourself in the golden years is of utmost importance so you can retire worry-free. […]
Instant loan apps have transformed the lending scenario by providing quick and easy access to finances with just a few clicks on your phone. However, as such apps gain popularity in the financial landscape, the scams associated with them have risen as well. 1. Registered and authorised by RBI The Reserve Bank of India (RBI) […]
-Name withheld on request Firstly, it is great to hear that your cousin has successfully paid off their home loan at the age of 35 and has begun investing 30% ( ₹45,000 of ₹1,50,000) of his income towards their retirement goal. They are also utilizing the additional tax exemption under Section 80CCD by investing ₹50,000 […]
If you are planning to take a personal loan and still not sure about the optimum tenure and the EMI that you should opt for – it is recommended to fiddle with the personal loan EMI calculator. It is an easy-to-use tool which shows the exact amount that you need to shell out every month in order […]
Capital market regulator Securities and Exchange Board of India (Sebi) has proposed a platform to give relief to those investors who have lost track of their mutual fund investment. By releasing a draft circular on Tuesday, Sebi has expressed the intent to launch a service platform, MITRA or Mutual Fund Investment Tracing and Retrieval Assistant, […]
I moved to New Zealand a few years ago and am now a citizen of the country. Before my marriage, I purchased a property in Varanasi with my father as a co-owner. I made all the payments, and the property was registered in our names. Given that I now reside in New Zealand and considering […]
Delhi Chief Minister Atishi recently announced the Mukhyamantri Mahila Samman Yojana that will provide financial aid for women. The scheme aims to provide monthly financial assistance of ₹1,000 to women above 18 years of age. The registration for the scheme will begin in the next seven to 10 days as the state government is still […]
Once a user starts using a UPI credit card, it becomes a daily habit. This is why UPI payments are a huge market to tap into with its size almost three times the size of the credit card market, Riya Bhattacharya, founder of a fintech startup Rio Money tells MintGenie in an email interaction recently. […]
Since April 2023, fresh investments in the growth option of debt mutual funds have been taxable at the marginal income tax rate for short-term capital gains (STCG). For most investors, this is 30% plus surcharge and cess. The dividend option, now called income distribution cum capital withdrawal (IDCW) option, was already taxable at the slab […]
Here’s how much costs of some of the popular European residency programmes have escalated in recent years. Portugal The cost of Portugal’s Golden Visa, which allows you to apply for permanent residency after five years, has risen 78% from €280,000 ( ₹2.49 crore) to €500,000 ( ₹4.45 crore). There have been changes in terms of […]
ITR Advance Tax: The deadline for the third instalment of advance tax is December 15, 2024. Taxpayers must pay the advance tax before the due date to avoid penalty. What is advance tax? Advance tax is a part of income tax that is paid in instalments at different deadlines rather than paying the entire amount […]
The term “advance tax” describes the portion of income tax that must be paid in instalments by the deadlines rather than all at once. Both individuals and businesses must pay income tax in advance in recurring instalments rather than in one lump sum. If taxpayers’ income tax liability exceeds ₹10,000, they must pay advance tax; […]
The use of technology in the financial sector has revolutionised the entire process of borrowing and transformed the user experience to a new level. From a quick and efficient process of submitting loan applications to customised offers, technology has simplified the entire personal loan application journey. Online loan applications Now it is no longer necessary […]
Credit cards have become a popular choice amongst travellers as they provide great deals and exclusive discounts so that you can have a luxurious vacation while avoiding a hole in your pocket! If you are planning a train trip for your next holiday, then you should consider getting a travel credit card especially designed for […]
Investing wisely doesn’t require a crystal ball or insider secrets; it thrives on time-tested principles and disciplined execution. Whether you’re building your portfolio for 2025 or decades beyond, the fundamentals remain consistent. Let’s break down a straightforward guide to crafting a robust portfolio. Start with a plan: Crafting a strong portfolio begins with a solid […]
Mumbai, known for its bustling streets, holds countless stories of struggle and success. Among these is the remarkable tale of Bharat Jain, often referred to as the world’s richest beggar. Despite living a life most would associate with hardship, Jain has accumulated wealth that many office workers can only dream of. Bharat Jain, whose net […]
I am a Hindu non-resident Indian (NRI) based in the UK, living with my husband. We have no children, and the rest of our family and relatives reside in India. My husband and I are in the process of drafting our wills, which involve assets in both the UK and India. How can we ensure […]
The Reserve Bank of India’s (RBI) decision to reduce the cash reserve ratio (CRR) in its bi-monthly monetary policy marks an important first step in its policy easing cycle. While narrowly seen as a liquidity measure, injecting close to ₹1.16 trillion in primary liquidity, the CRR cut carries broader implications. Unlike open market operations (OMOs) […]
My 66-year-old aunt, who is still working at a private school, received ₹18 lakh last year from the sale of our ancestral property. She doesn’t need this amount for three to five years. Could you suggest the best investment options for her to ensure the growth and safety of her funds? -Name withheld on request […]
Financial freedom is extremely important in every individual’s life. Loans and credit cards are some of the popular options for people who are in need of quick cash to cover their finances for a while. However, both of these credit options have a mandatory application process which is first assessed by lenders on the basis […]
Utility bills like mobile recharge, DTH recharge, electricity bill, etc, are something that most of us have to pay every month. What if you could get up to 25% cashback on these payments? Yes, the Airtel Axis Bank Credit Card provides up to 25% cashback on utility bill payments and a lot more. So, what […]
Since the rise of digital payments, protecting credit card information in transactions is much more important than before. Security risks, that include phishing, bullying, hacking attacks and data losses, are real threats to financial security. Hence, it is extremely important to keep your credit card data secure at all times. Let us learn more about […]
Under what circumstances a tenant whose landlord is a non-resident Indian (NRI) can apply for a reduction in tax deducted at source (TDS) on rent and what are the documents needed to support the application? Tax must be deducted at the rate of 30% (plus applicable surcharge and cess) on the rent payable to an […]
The bill, passed by the Lok Sabha on 3 December, says that nominees are only custodians and safekeepers representing the beneficiaries (if there is a testamentary document, e.g., Will/Trust deed) and heirs (in the absence of a testamentary document). They are not owners. However, nomination is important as it aids the process of inheritance. Rajat […]
Credit cards are a great way to save smartly on your transactions and earn exclusive rewards and discounts on your favourite brands. Credit cards may affect your credit history and also impact your credit score as well as your future loans. If you utilise your credit card appropriately, it can help you to create a […]
The Employee Provident Fund Organisation (EPFO) allows individuals to only have one Universal Account Number (UAN). Think of UAN as an umbrella account that can house multiple member IDs. When you switch jobs, your member ID changes but your UAN remains the same. However, in some cases, you may be allotted a new UAN despite […]
If you are a travel freak, you would naturally be spending a lot of time at airports. Often times, you would reach there before time, thus having to wait at the terminal for long hours. Sometimes, the wait can be excruciating. It is, therefore, recommended to access the airport lounge to ease the discomfort while […]
In the last few months, some banks have made changes to their credit card reward program and introduced or increased fees for some services. In September 2024, HDFC Bank made changes to its credit card reward program. In November 2024, ICICI Bank made changes, and now Yes Bank has made changes effective from 1st December […]
Markets regulator Sebi issued a circular on instant redemption in liquid funds in 2017, allowing investors to withdraw up to ₹50,000 or 90% of the money parked in a liquid fund per day, whichever is lower. Many fund houses such as PPFAS, Nippon, Shriram, Bajaj, ICICI, HDFC and SBI offer this facility. Liquid mutual funds […]
Many customers look at the claims settlement ratio or rely on anecdotal claims stories from acquaintances. However, the claims settlement ratio alone does not give a complete picture. Other data points, especially the claims paid ratio in terms of amount, hold the key. “Claims settlement ratios in isolation can present a skewed narrative. For example, […]
Over 40% of his annual expenses went into paying the premium for the nine insurance plans, another 40% towards mutual funds, and the remainder for household expenses. Coming from a traditional Lucknow-based business family, the major focus for Kesarwani, 39, had always been the core jewellery business. “Once I joined the family business, I continued […]
SBI Mutual Fund has introduced a new fund offer (NFO) on December 4 called SBI Quant Fund. It is an open-ended equity scheme following a Quant-based investing theme and will be benchmarked against the BSE 200 TRI. The scheme will stay open for investors until December 18 and will reopen for continuous sale and repurchase […]
My maternal grandparents have a property valued at close to ₹10 crore. After their demise, ideally, the property should have been distributed among children, i.e., the four sisters and two brothers, including my mother. However, my grandparents’ sons are not keen to distribute the property with the sisters. They are also not sharing the property […]
But what about the deaf community? There’s little information on mutual funds that’s available in sign language. In fact, six hearing-impaired people told Mint they’ve never come across a guide to mutual funds in sign language. Tushar Viradiya, who works with an NGO, wrote that he had seen the ‘Mutual Funds sahi hai’ advertisement but […]
Credit cards often serve as a quick and convenient mode of payment for several financial transactions. However, the trouble starts when your credit card expires and debts are still pending. It is important to keep track of your credit card payment deadlines and expiry dates. Here’s what happens when your credit card has expired and […]
It’s essential to understand the distinction between EPS and the Employee Provident Fund (EPF). An employer typically deducts 12% of your basic salary plus dearness allowance, if any, from your monthly salary to contribute to the EPF account. This salary may also include any retaining allowance and the cash value of food concessions, if applicable. […]
When an NRI becomes a resident, can the foreign currency non-resident account FD be freely repatriated without coming under the ambit of the liberalised remittance scheme (LRS)? – Name withheld on request. When an NRI becomes a resident under FEMA, the FCNR (B) deposit held in India would be recharacterized as a resident account, and […]
Prior to investing in a mutual fund scheme, it is worthwhile to examine the paste returns of that scheme in relation to other schemes in the same category. Although past returns do not a scheme’s future returns, these are still important for understanding the future investment potential of a scheme. Other factors which investors are […]
Are you short of funds and exploring different ways of raising money? There are multiple ways to do so such as personal loan, instant loan, credit card loan and loan against an asset such as gold or securities. Each of these sources have their own set of advantages and disadvantages. For instance, when you withdraw […]
RBL Bank is planning to stop issuance of cobranded credit cards in partnership with Bajaj Finance. The move does not significantly change the bank’s plans for credit card business growth, including new issuances and spends. RBL Bank will continue to service the existing portfolio of approximately 3.4 million co-brand credit cards issued under this partnership, […]
When you raise a personal loan, the first thing you want to do is to find out your equated monthly instalment or EMI. This can be computed with the help of a personal loan EMI calculator. Let us understand how this works. An EMI calculator ascertains the monthly instalment on the basis of interest rate […]
The Income Tax (I-T) department had rolled out a new e-Pay Tax service wherein the entire chain of activities related to payment of direct taxes, from generation of challan (CRN) to making payment and recording of the payment history is enabled through the e-Filing portal for authorized banks. Taxpayers are offered a wide range of […]
If you have faced a credit card fraud, the immediate reaction is to call up the banker to get the card blocked. Does it mean that your card has been closed? Well, it does not. Closure of card is quite different from the blocking of card. Let us understand with an example. Suppose, you realise […]
With the stock market undergoing a correction mode with 10 percent fall behind it, investors are not radiating too much enthusiasm about the valuation of stocks and mutual funds. Notwithstanding all this, a number of mutual fund houses have rolled out a large number of new fund offers (NFOs) for the next few days and weeks. Among […]
My husband and I earn ₹20 lakh every year and invest ₹40,000 every month through a systematic investment plan (SIP), which I started two months ago. At present, I have ₹3 lakh in direct stocks and some amount invested in gold. We want to accumulate a down payment of ₹1 crore after six years for […]
With overheated markets, the challenge of balancing risk and returns has become more pronounced. For those seeking stability and inflation-beating growth, multi-asset allocation funds (MAAFs) may be a viable alternative to debt mutual funds or fixed deposits (FDs). MAAFs are structured to invest in a mix of asset classes—commonly equities, debt, and gold—offering diversification benefits. […]
The central government has launched the PAN 2.0 project, revising the country’s current permanent account number (PAN) system. The Income Tax Department (ITD) plans to streamline and digitise the existing PAN system in India through PAN 2.0. The PAN 2.0 project was approved by the Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister […]
Instead of the regular index, where the highest weight is given to the stock with the largest market capitalization, the smart-beta index gives the highest weight to the stock that scores the highest on the specific factor. View Full Image At the Mint Money Festival 2024, which took place on 22 November in Mumbai, Siddharth […]
Your credit score determines a lot, from low interest on loans to premium credit cards. But with any credit rating, there comes the cost of maintaining it. Keeping a good credit score is indispensable in achieving your financial goals. Learn how to achieve an excellent credit rating using this guide and seven action tips to […]
My wife and I live and work in France. My wife’s cousin wanted to gift her money by wire transfer after we hosted her cousin’s family recently while on their trip to France. Would this have any tax implications for my wife in India?-Name withheld on request Under foreign exchange regulations, your wife’s cousin is […]
India’s insurance industry, long seen as an underpenetrated yet promising market, is poised for a major transformation with the government’s proposal to permit 100% foreign direct investment (FDI) in insurance companies and introduce composite licences. These reforms, if implemented effectively, could catalyze significant changes in the sector, attracting fresh capital, improving competition, and enhancing accessibility […]
If you are planning to invest in a mutual fund scheme and are currently on the lookout for a good scheme to invest, be mindful of the fact that there are multiple categories to choose from. One could, for instance, choose between a large cap scheme and a small cap scheme, and from flexi cap […]
If you fall short of money, then you can avail the option of raising a personal loan from a bank or non-banking financial company (NBFC). Some borrowers, meanwhile, are also offered pre-approved personal loans. In the case of a pre-approved loan, the borrowers don’t need to apply to a financial institution or submit any documents. […]
If you have taken a personal loan and realise that the funds are inadequate to meet your requirements, then a top-up personal loan is an option worth exploring. For instance, assume that you took a ₹10 lakh personal loan for a wedding at home. That time, you did a back-of-the-envelope calculation, which, as it turned […]
A number of investors raised personal loans against their shares and mutual funds partly because of the bull run (that has apparently ended with 10 percent correction having taken place). The latest RBI data shows that outstanding loans against shares and bonds as of August 2024 stood at ₹9,722 crore, growing around 27 per cent […]
Have you been planning to raise a personal loan lately? It is recommended to first compare the interest rates charged by different banks and non banking financial corporation (NBFC). Typically, personal loan interest rates are relatively higher because they are unsecured and banks, therefore, make up for the risk of loss of capital by charging […]
Effective financial planning includes defining financial goals and drafting out an investment plan to meet these goals. This is essential for achieving financial stability and building a strong foundation that lets you work towards meeting your financial commitments, both long term and short term. In Episode 5 of Let’s Mint Money, presented in collaboration with […]
The Reserve Bank of India (RBI) had extended the transaction limit from ₹5,000 to ₹10,000 for UPI 123Pay on October 9. As a follow up, National Payments Corporation of India (NPCI) has issued a circular telling the members (including banks and service providers) to ensure that the new limits are adhered to. Those who are […]
If you are in an urgent need of money where you can’t afford to wait to save then one of the feasible alternatives is to raise a personal loan from a bank. Essentially, a personal loan can be raised for a slew of purposes which include hosting a wedding, buying a luxury item, going on […]
If you rely on a credit card to make most of your financial transactions or you are planning to switch to a credit card for the rewards and cashback it offers, it is important to know that once issued, a credit card cannot be used forever. Every credit card has an expiry date. What is […]
How can a private trust benefit a differently abled child? Who should be appointed as a trustee? And how can utilization of the trust’s assets be effectively controlled? Establishing a private trust to safeguard the financial future of a differently abled child offers significant advantages over other forms of security or investment. Unlike general financial […]
Personal loans are helpful for fast money if you need such speed to cover medical costs, house improvement, or that dream vacation. Not every person, however, is qualified to get a personal loan. A number of criteria must be met before the lenders determine if the borrower is credit worthy. Knowing these characteristics helps you […]
I will be moving back to India in FY25. Do I need to bring the money I earned abroad with me? If yes, will it be taxed? If no, what are the tax implications in India in the future? -Name withheld on request There is no obligation to do so. Under India’s Foreign Exchange Management […]
NPS Vatsalya is a National Pension System (NPS) contributory new pension scheme for minors. Its goal is to empower kids by establishing the retirement savings habit at a young age. By allowing parents to deposit a minimum of ₹1,000 per month with no upper limit, the NPS Vatsalya scheme helps children develop disciplined saving habits. […]
I’m working with the Indian Army. Until last year, we received Form 16 under the old tax regime, which included all allowances such as house rent allowance, travel, uniform, etc. However, from AY 2024-25, we are receiving Form 16 under the default new tax regime, which does not mention non-taxable allowances. My salary income exceeds […]
My father passed away last year without executing a valid Will, leaving behind my mother, a son, i.e. me and my sister. He had bought a residential house in 2009 which has been equally mutated in the name of all the three legal heirs in the municipal records. We are planning to sell this property. […]
Credit card companies typically employ a number of marketing strategies or offers to woo new customers. These strategies or offers are aimed to highlight the benefits of their credit cards, target specific demographics, and create a sense of exclusivity. For instance, most of them offer cashbacks, reward points, extra points at some merchants and zero […]
I have lived in the UK for the past 15 years. I came back to India on 15 October 2024 to take up employment. Do I have to file my Income Tax Return (ITR) in India next year? For a person who is a resident of India under the tax laws, his global income is […]
Before investing in a mutual fund scheme, it is common among investors to examine the past returns. More often than not, these returns are merely indicative, however, they are seen to be setting the tone of a scheme in the future. Here, we take a look at the returns delivered by flexi cap mutual funds in the […]