New Delhi-based Rahul Kumar’s 67-year-old father was diagnosed with liver cancer that needed an advanced palliative treatment called Transarterial Radioembolization (TARE). Kumar’s brother had a corporate policy with a private insurer. However, during pre-authorisation, the company refused to approve the claim, saying, “TARE is an advanced procedure which is not covered under the policy; hence […]
My health insurance policy started on 29 June 2022. I went through a treatment for a disease in October 2016. The period between the last medication or treatment and the policy start date is over 56 months. Per regulations, pre-existing conditions are defined as those diagnosed within 36 months of the policy purchase date. I […]
Unlike direct investment in stocks, which involves cumbersome account setups, regulatory complexities, and high costs for Portfolio Investment Scheme (PIS) or Non-PIS demat accounts, mutual funds offer a streamlined and cost-effective alternative. Mutual funds also allow a person to spread risk across market caps, sectors and asset classes, providing NRIs with professionally managed portfolios and […]
The deadline to file income tax returns (ITR) by corporates and individuals requiring audit for the financial year 2024-25 is November 15, 2024. The deadline was set for October 31, 2024, initially, but was extended to November 15. Any further extension to this deadline is unlikely. This income tax return submission is closely linked to […]
ICICI Bank announced several updates to its credit card fees, set to begin on November 15, 2024. The changes cover finance charges, late payment fees, and additional transaction fees for education, utilities, and fuel. These adjustments come as ICICI Bank aims to streamline its charges in line with industry trends and to align with rising […]
What followed was nothing short of a nightmare. Within an hour, the octogenarian received calls from people posing as Central Bureau of Investigation (CBI) officers from Mumbai. They alleged that his Canara bank account had been used to launder money. Oswal did not have an account with Canara Bank, but the scamsters had details of […]
Investors in the SGB 2016-17 Series III scheme of Sovereign Gold Bond can redeem their assets in November at a 159% higher value along with accumulated interest. SGB 2016-17 Series III scheme redemption date According to the Reserve Bank of India, investors in the SGB can redeem their bond units after eight years of the […]
My wife and I are both NRIs. She owns a residential property in India which she has rented out. She requested the tenant to credit one month’s rent into my NRO account instead of hers since I’m due to visit India shortly and can use those funds for local expenses. The resident tenant deducted TDS […]
If you have started using credit card (s), you need to create a budget for your spending. By doing so, you can make sure that that your monthly expenditure remains under control. This is, in fact, a multi-step process. First and foremost, you need to assess how much is your monthly expenditure. Thereafter, you need […]
A credit card can be an incredibly useful tool to build your personal brand by helping you develop a reputation of credibility, financial responsibility, and exclusivity so long as it aligns with your brand. By making credit card payments regularly, you can improve your credit score. Besides, you can make the most of your reward […]
With Donald Trump winning the US Presidential Elections 2024, investing in the US stocks has suddenly become sought after. The S&P 500 briefly surpassed the 6,000-mark and closed with its biggest weekly percentage gain in a year, reported Reuters. This has prompted several Indian investors to start exploring options to invest in the US markets. […]
Taxpayers who are meant to get their accounts audited have only one week left to file their income tax return (ITR) for AY 2024-25. The last date to file income tax return for these taxpayers is November 15. The income tax department recently issued a statement that says that it’s the last week left for […]
Warren Buffett’s most famous advice is to buy companies with strong moats when they’re available at reasonable valuations. But do you know his second most famous piece of advice? Buy a low-cost index fund. That’s right. Despite building his wealth through active stock investing, Buffett advises the average investor to pursue a passive approach. In […]
Before investing in a fixed deposit (FD), it is recommended to compare the interest rates offered by different banks. Typically, banks offer a higher rate of interest to the term deposit of a long tenure. Conversely, short tenure term deposits offer a relatively lower interest rate. Here, we list out the interest rates offered by […]
An insurance distributor has suggested that I pay the premium to them instead of the insurance company. They are offering attractive premiums. What measures can I take to ensure I am not cheated? – Name changed on request Under the law, insurance premiums can only be paid to insurers. It’s illegal for any company other […]
If you stay invested in a mutual fund for a long period of time, the returns tend to grow multifold for what is known as ‘compounding’. The gains earned in the first few years are added to the corpus, thus making it grow considerably over a period of time. Here, we share the list of […]
If you are an EPF (Employees Provident Fund) subscriber and keen to check the account balance and/or the last contribution made, the process is super easy. You need to only give a missed call. The only condition is that the member’s mobile number must already be registered on the UAN portal. So, those members who […]
With Donald Trump all set to take over as the 47th US President, the markets in America reacted quite positively to the news. S&P 500 and Dow Futures hit a record high on Wednesday after the news of Trump’s victory became clear. In fact, Indian benchmark indices Sensex and Nifty 50 also rose over 1 […]
If you are planning to lock your savings in a fixed deposit (FD), it is reasonable to check the interest rates offered by different banks. Although most depositors prefer to open a term deposit account with a bank with which they share a long-term banking relationship, one can consider opting for a new bank so […]
I am a divorcee with two children. If anything unfortunate happens to me, can my ex-husband claim a share in my estate? Will my children inherit property from my ex-husband should he pass away? We assume that you and your ex-husband are Hindu. In case of the unfortunate circumstance that you pass away without making a […]
Ranked as the second most expensive country in the cost-of-living index, Iceland offers beauty at a premium. But with some strategic planning and clever spending, the Pune-based couple managed to turn their bucket-list trip into a reality without overshooting their budget. The couple travelled in the shoulder season, booked only Airbnbs so that they could […]
I have been a non-resident Indian (NRI) for many years and have invested in Indian stocks using income earned abroad, deposited in my NRE account. In FY25, I sold some shares and made capital gains, but my AD (authorized dealer) banker deducted TDS on the gains. I thought income from NRE accounts was exempt from […]
I plan to opt for the new tax regime when filing my ITR for AY 2025-26. Currently, I am on the old tax regime, so the 12% of my salary to the Employee Provident Fund (EPF) will continue through the rest of the financial year. Is it correct that I cannot claim a tax exemption […]
Setting up UPI for NRIs NRIs must first link their international mobile numbers to their NRE or NRO bank accounts. This step is most important for enabling UPI or Unified Payments Interface transactions with their overseas numbers. Once linked, NRIs can download a UPI-enabled application compatible with international mobile numbers, such as iMobile or PhonePe. […]
I own a house in Rajasthan, for which I took a loan. The loan has been paid up substantially. I have been living in Haryana for the last four years. I want to buy one more house here. Can I avail of home loan tax benefits on the purchase of a second home loan? Is […]
For most credit card users, one of the most common use cases is to buy merchandise now and pay for it at a later date, say a month later. Shopping online or offline with the aid of a credit card without having to worry over the price tag is what defines the key utility of […]
More than 9.54 lakh people with income of ₹1 crore and above filed their income tax (I-T) returns until October 31, the data on the Income Tax portal revealed. The latest data for the financial year 2024-25 shows that a total of 2.76 lakh individuals in the ₹1-crore club filed their tax returns in October. […]
With the prevalence of digital payments, it is quite common among the public at large to use a unified payment interface (UPI) service for a slew of transactions. Be it for paying your food bill or your cab, for shopping or for the fuel bill, making payment digitally is seen as convenient. Thanks to our […]
Early planning was essential for saving money, especially during Europe’s busy travel season in June and July. Gandhi, whometiculously collected credit card points, adopted a strategic approach: spend more to gather points that would fetch free business class tickets and stay in luxury hotels. Collecting Avios Gandhi and his family are into luxury travel, but […]
Credit cards can be a convenient option for paying insurance premiums, which are the amounts required to maintain an insurance policy. Timely payment of these premiums is crucial, as failing to do so can lead to policy lapses and loss of coverage. Here’s how to effectively use credit cards for insurance payments. How to pay […]
Have you received an expensive gift from someone this Diwali? It could be an expensive watch, a rare painting, a piece of jewellery, or even a pair of branded shoes. Although a gift is typically considered tax-free, when its value is more than ₹50,000, it is liable to income tax in the hands of the […]
When you sell your old piece of jewellery to buy a new one, you are meant to pay capital gains tax on the sale. It is vital to note that the sale of gold, even for the purpose of buying a new ornament, is seen as the sale of an old asset. In Budget 2024, […]
If you are a regular credit card user, it is vital for you to clear your bill on time to keep your credit score intact and avoid paying late fee as well as interest at an exorbitant rate. There is no denying the fact that the best time to clear your credit card bill is […]
If you plan to invest in digital gold this Diwali, remember that you have several options, including gold mutual funds, gold ETFs and gold bonds. With the government planning to discontinue gold bonds, investors can consider investing in gold ETFs and gold mutual funds. There are 17 gold exchange-traded funds (ETFs) with total assets under […]
If you are a regular traveller and use airlines on a frequent basis for the purpose, the rewards that you earn on your credit card spends can be utilised for booking flight tickets. Card issuing banks offer free air miles for your spending in select categories, which can then be redeemed for booking flights. Though […]
You never know when a financial emergency might arise. Personal loans are one of the most preferred forms of debt during such times due to their versatility and diverse uses. Here are three reasons why you might consider taking a personal loan: Home renovation Building a house is just the beginning; every home needs renovations […]
I’ve retired at 60 with a corpus of ₹4.3 crore and my monthly expenses are ₹2 lakh. With a life expectancy of 85, how should I invest to maintain steady income while preserving my corpus? I am considering real estate, high-dividend stocks, and systematic withdrawal plans (SWPs). How can I diversify to balance growth, risk […]
If you are new to the credit card universe, it is important for you to know that one of the key incentives for most users while applying for a credit card is to avail credit card rewards program. For those who are unaware, credit card rewards programs are incentives offered by the issuers i.e., banks […]
Is it possible to bounce back from the brink of bankruptcy to carve out a strong financial base for oneself? The answer to that question is yes, provided one has access to sound financial advice that can help one tide over losses and pick the right investments that will help build wealth over the long […]
Financial planning and a disciplined savings plan are key to a secure future and peaceful retirement years. The process involves a timely start, strategic decision-making, discipline, and wise investments. In the latest episode of Let’s Mint Money, presented in collaboration with Groww Mutual Fund, Varun Gupta, Chief Executive Officer (CEO) at Groww MF offered Editor […]
A diversified investment portfolio consisting of equity and debt elements, some liquid funds for emergencies and some real estate exposure make young Harsh Mishra a real mascot for good financial planning for other GenZs like him. With a stable job and controlled monthly expenses, he has set a financial independence score for himself. The first […]
If you are planning to invest in mutual funds anytime soon then remember that Diwali is a good time to make a new beginning. There are a number of market veterans who may advise you against investing at the current valuations which are arguably quite steep. Nifty50’s current P/E (price/earnings) ratio is 22.8. However, like […]
If you are planning to apply for a credit card and are exploring a range of services that can take your experience a notch higher, then you may avail a range of premium services. Although these services vary from bank to bank, one can pick them according to their special preferences. Here we share details […]
If you regularly invest in foreign exchange (forex), then make sure you do so through genuine and authorised trading platforms. There could be a scenario wherein a fake trading platform entices you into investing in foreign currency pairs. The Reserve Bank of India (RBI) recently updated its Alert list to warn investors against investing via […]
In India, where family ties are deeply rooted, it’s common for grandparents to think about the future financial well-being of their grandchildren. This cultural tradition stems from a sense of legacy, love, and responsibility. Grandparents, having lived through various financial ups and downs, often want to secure a stable foundation for the next generation. Beyond […]
On 8th August 2024, the Reserve Bank of India (RBI) made an important announcement about the frequency of credit information reporting by banks/NBFCs to credit information companies (CICs) like CIBIL and others. What is this announcement, from when is it applicable, and how will it help banks/NBFCs and borrowers? Let us understand. Credit information to […]
Secondary residency involves an economic contribution to the host country or a real estate purchase in exchange for residency rights. There are residency by investment programmes, also known as Golden Visas, all over the world, but the most popular ones in UHNWI circles are in Europe, West Asia, and North America. In Europe, established residency […]
These modifications follow the Insurance Regulatory and Development Authority of India’s (Irdai) master circular on life insurance products (Insurance Products Regulations, 2024). Key changes include reducing the entry age to buy an endowment plan to 50 years from 55. The minimum basic sum assured has been increased to ₹2 lakh from ₹1 lakh with an […]
As digital payments become increasingly integrated into our daily lives, credit card technology is evolving to meet the changing preferences of consumers. From contactless payments to mobile wallets, several trends are reshaping the financial landscape in India. Let’s explore the latest advancements in credit card technology and how they enhance user experience. Also Read | […]
I’m a US citizen holding an OCI (Overseas Citizen of India) card. I own three apartments in India that I purchased in the early 2010s. I plan to sell two of them—one in December and the other in February 2025. Against the sale of these two apartments, I plan to buy two new apartments. Can […]
NEW DELHI : October 2023-24 brought a tax shocker. The rate of tax collected at source (TCS) on the purchase of foreign tour packages and foreign remittances under the Liberalised Remittance Scheme (LRS), other than for education and medical purposes, was raised from 5% to 20%. Though this additional TCS outflow could be claimed as […]
Mint spoke to some young families to find out how they deal with the various costs associated with parenthood. View Full Image Graphic: Pranay Bhardwaj The Google family Google Llc employee Aman Narang and his wife Isha Aggarwal are parents to a 14-month-old son. While now in Gurugram, the couple was in Bengaluru during their […]
You shout out all the Gabbar Singh dialogues, you know Veeru is going to be drunk atop the village water tank, you hold your best friend’s hand as Jai and Veeru celebrate the song of friendship. You travel in the local train after having watched Khosla Ka Ghosla, uncaring of the strange stares from the […]
After keeping the benchmark interest rate unchanged for ten consecutive meets, Reserve Bank of India (RBI) is expected to cut the repo rate in the next monetary policy committee (MPC) meet scheduled in December. It is, therefore, recommended to lock your savings in fixed deposits (FDs) for as long as possible, argue experts. “If your […]
最受歡迎的線上差價合約交 最好的差價合約交易平台提供大量的市場和可交易資產選擇。其中包括股票、商品、指數和比特幣等加密貨幣。頂級經紀商提供一系列工具和分析，包括技術指標、繪圖工具和風險管理訂單。它們還允許推播、簡訊或電子郵件通知。 IG 為交易者提供廣泛的差價合約市場，包括股票、ETF、外匯、大宗商品和加密貨幣。其平台可在線上或透過 IG 應用程式存取。其佣金結構較低，支援 MT4、MT5 和 DupliTrade。受監管的經紀商對於差價合約交易至關重要，因為它有助於保護您免受詐欺並為您提供安全的交易環境。它還確保您正在與合法公司打交道。大多數信譽良好的差價合約經紀商都是證券投資者保護公司 SIPC 的成員，這意味著您的投資受到保護。 在線cfd交易平台 選擇差價合約經紀商時，請尋找提供多種付款方式和模擬帳戶的經紀商。模擬帳戶可讓您在模擬交易環境中測試經紀商的平台和策略，而無需拿您的實際資金冒險。此外，模擬帳戶非常適合製定新的交易策略。一些經紀商提供高水準的槓桿，可以將您的交易放大高達 1:500。 IG 是最受歡迎的線上差價合約交易平台之一，為交易者提供透過其本機平台和行動應用程式存取數千個市場的機會。交易者可以交易股票、指數、商品和外匯。它還提供各種工具和功能來支援交易體驗。 最受歡迎的線上差價合約交易平台有哪些？ IC Markets 是另一家領先的差價合約經紀商，提供一系列差價合約和外匯。它提供高達 1:500 的槓桿，並支援 300 多種差價合約工具，包括加密貨幣、商品、股票和指數。其用戶友好的平台可在所有裝置上使用，並提供先進的圖表功能、無縫交易訊號和突破性的風險管理實用程式。 該平台還提供大量的資產選擇和多種支付方式。其定價具有競爭力，並根據活躍交易者的每月交易量為其交易成本提供大幅折扣。這使其成為尋求差價合約流動性的專業和機構交易者的首選。交易者可以使用 Plus500 交易多種資產，包括股票、外匯、大宗商品、加密貨幣和指數。該公司擁有直觀的平台和低廉的費用，使其成為經驗豐富的交易者和初學者的絕佳選擇。 除了簡化的 WebTrader 平台外，Plus500 還提供適用於 iOS 和 Android 裝置的行動交易應用程式。這些平台提供多種功能，例如交易警報和一鍵執行。此外，它們還允許您監控您的交易並獲取推播通知。 Plus500是國際知名的差價合約經紀商。它受到多個國家的監管，並在許多主要市場提供交易，例如股票、債券、國債、貨幣和 ETF。此外，該公司也為交易者提供全套工具和教育資源。但是，它在美國不可用。 差價合約交易是在線金融交易的一種形式，允許交易者在不擁有或實際交付基礎資產的情況下獲得相關資產的價格變動風險敞口。這些交易通常是投機性的，最適合活躍的交易風格。最好的差價合約交易平台提供種類繁多的標的資產、具競爭力的點差和低佣金。他們還提供一系列融資和提款方法。 City Index 是一家全球點差交易、外匯和差價合約交易經紀商。它是納斯達克上市公司 StoneX 集團的一部分，並受到全球頂級金融機構的監管。幾十年來，該公司透過提供可靠的交易環境和教育資源建立了良好的聲譽。 除了全面的市場之外，City Index 還提供強大的平台和先進的訂單類型，包括所有股票差價合約的保證止損訂單 (GSLO)。該公司採用混合定價和執行模式，這意味著它從交易所、流動性提供者和 ECN 獲取價格。
If you are planning to raise a personal loan, it is vital to ensure your finances are in order. For that, you are supposed to keep your monthly debt obligation within your budget. A slightly lower interest rate can bring down your EMI considerably. Alternatively, if you borrow a lower amount, your loan liability and […]
Instant personal loan is a type of unsecured loan which gives quick access to money with minimal documentation and fast approval, sometimes within minutes or a few hours. Instant personal loans are generally offered by banks, non-banking financial companies (NBFCs), or fintech lenders and are quite handy to address short-term financial needs, which include but […]
Have you ever felt a sudden need for money in the recent past? If yes, how did you manage to meet the requirement? Well, if you ever face a similar situation in the near future, you can – among other things – raise a small amount of personal loan from a bank or a non […]
India’s corporate bond market has long been hamstrung by low liquidity, locking investors into their holdings until maturity and discouraging retail participation. While institutional investors dominate, retail investors—wary of the illiquid secondary market—have stayed on the sidelines. The Securities and Exchange Board of India (Sebi) has unveiled a new liquidity window that offers retail investors […]
Despite the high valuations of benchmark indices, there is no significant risk of a major correction soon, Rahul Singh, Chief Investment Officer (equities) of Tata Mutual Fund, says in an emailed interview with MintGenie. He also speaks about the sectors that are likely to do well in the near future. While sharing an investing advice […]
If you are planning to apply for a credit card, remember that you need to first build a credit score. And if your credit score is low, you need to take some substantive steps to improve your score. It is vital to mention that the credit score is not permanent and one can always improve […]
In today’s unpredictable economic landscape, personal loans have emerged as a vital financial tool. When unforeseen challenges arise—be it medical emergencies, job loss, or natural disasters—personal loans can provide essential financial support. Also Read | How to get low-interest rates on personal loans? Here are 9 key tips Get Quick Cash in just Minutes! Best […]
I am a NRI with a residential property in Mumbai that I have rented to a salaried individual. The monthly rent is ₹90,000 and the lessee has deducted TDS at 5%. In the lease agreement, I mentioned my Indian address and PAN but did not inform the tenant about my NRI status. Could there be […]
NEW DELHI : In recent years, retail investors have emerged as a formidable force in India’s equity markets, driven primarily by the growth of mutual fund investments through systematic investment plans (SIPs). However, this influx of “uninformed” retail money is inadvertently creating exit opportunities for seasoned “smart money” investors—such as promoters, private equity funds, and […]
“After the visa rejection, I wanted to make sure I didn’t face any more visa issues. Both Laos and Vietnam offered e-visas, and Thailand offered visa-on-arrival. Also, these countries are well connected with each other and considered safe for backpackers who are just starting out,” says Daga. So that’s where they went—a 15-day trip covering […]
If your landlord is a non-resident Indian, you must know some income tax rules that can affect you as a tenant. From the rent you pay to your NRI landlord, you must deduct a certain percentage of the rent at source—tax deduction at source, or TDS—and pay to the Indian government. If you do not […]
The Government of India has announced the buyback of its securities through auction for an aggregate amount of ₹25,000 crore (face value), announced Reserve Bank of India (RBI) on Friday. The G-securities with coupon rate of 7.72 percent will mature on May 25 next year. The securities with coupon rate of 5.22 percent will mature […]
Vasan Bala who gave us the unforgettable Mard Ko Dard Nahi Hota goes humongous budget with Dharma Productions’ Jigra. Alia Bhatt plays Satya, the problem solver for the family – carefully and emotionlessly she sends the poor girlfriend of the rich groom away to London to have his baby while he gets married to a […]
If you have multiple loans to service and want to repay them in one go, what would you do? Raising a fresh loan doesn’t seem like a rational thing to do. You can, however, opt for it if you want to retire the current loans and consolidate them into a fresh personal loan. You can […]
Is your poor credit score impacting your ability to get a credit card? You do not have to worry. Secured credit cards offer the way for individuals with poor credit scores. Credit cards are basically unsecured loans that offer you advances based purely on your track record in managing your finances. But secured credit cards, […]
What would you do when you don’t have a credit history or a bad one and intend to procure a credit card? More likely than not, your credit card application will get rejected. But as they say — there is always a light at the end of the tunnel for the optimists. Such applicants can […]
Do you need an instant loan for a financial emergency? Well, you could apply for a personal loan which could take anywhere between one to a couple of days. And you could get the money in your bank the same day also if you are lucky and importantly, if you have all the necessary documents ready. […]
They say what is in a name! Well, ‘everything’ when it comes to a credit card. It is a card which appears quite similar to a debit card but the meaning changes radically when the prefix is ‘credit’ instead of ‘debit’. A credit card typically offers a slew of benefits not offered by debit cards. […]
A personal loan is an unsecured loan given to meet immediate financial needs of people. Lately, it is quite common for banks to offer instant loans in this category. These instant loans are given to meet urgent financial assistance. There could be a number of reasons for which an instant personal loan is applied. This could […]
Here’s everything you need to know about it. Investments LRS allows Indians to invest in listed foreign securities – both equity and debt. You can invest in mutual funds, exchange traded funds (ETFs), venture funds, and real estate (with some caveats). You can also invest in listed debt securities such as bonds, but not unlisted […]
France is stunning, but it comes with a hefty price tag. Paris and the French Riviera, in particular, have an uncanny ability to drain your wallet before you even realize it. By the end of your trip, you’ll likely be left staring at your credit card statement, realizing that the airfare from India was the […]
Bank credit in India has been driven by the growth in personal loans which hints at increasing household leverages. These leverages had probably led to exponential rise in the domestic asset prices. This may be attributed either to the changing mindset or overstated economic prospects. It is difficult to deny both possibilities with the information […]
After the US Fed lowered policy rate by 50 bps from its 23-year high, the Reserve Bank of India (RBI) is likely to follow suit and cut the benchmark policy rate, perhaps later this year. And with interest rate cut cycle set to commence in December, investors are recommended to lock their money in fixed deposits (FDs) […]
I’m divorced and have to pay ₹90,000 alimony to my ex-wife. Can I claim tax exemption on the alimony? Can I claim a tax exemption on this alimony? Does it matter if I pay it monthly or annually? If we agree on a one-time settlement, would that be tax-exempt, even if the amount is much […]
If you are set to get a credit card, there are a slew of features that you should be aware of. There is no denying the fact that a credit card enables you to get interest-free time — usually 40-45 days — when you use it to procure items of necessity or luxury. It works […]
If you have a wedding at home which is due in a month or two, and are clueless as to how will you arrange the money — there is a little that you can do apart from raising a loan from a bank or a financial institution. But there is no specific loan given for […]
Gotham City’s Arkham prison is not a fun place. The inmates have been tortured and medicated into submission. Among the prisoners is Arthur Fleck – dubbed the Clown Prince Of Crime – who has shot to death a TV host Murray Franklin (live on TV) as well as three drunk people who bullied him on […]
If you are a student, then being unemployed and not having a credit history may come in your way of getting a credit card. There is, however, a way to procure one. Broadly, there are two options for a student to get a credit card: the first is to get an add-on card to a […]
If you are planning to get a credit card, then it is important to note that there are plenty of them to go for. Some credit cards offer travel reward points, while a few are good if you love to dine outside. Few are good for the moviegoers, while others are good if you drive a […]
This comes at a time when health insurance premiums for senior citizens have been soaring. But will it be a good idea for senior citizens enrolling for this scheme to let go of their expensive personal health insurance policies? Mint examines the features of AB-PMJAY, its performance so far, its hospital network, and the quality […]
However, with most IPOs getting oversubscribed, securing an allotment has become increasingly challenging. To boost their chances, some investors are turning to IPO loan financing—a strategy that allows them to bid for a higher number of shares than their available capital would typically permit. Read this | Why you should approach the SME IPO market […]
A Cash Deposit Machine or Automated Deposit-cum- Withdrawal Machine (ADWM) — is an ATM-like machine that enables depositors to deposit cash into their accounts using the ATM-cum-debit card. One can use this machine to immediately credit their account without visiting the branch. The transaction receipt gives an updated account balance. Meanwhile, it is vital to […]
Certain life situations, such as employment gaps or emergencies like the COVID-19 pandemic, can create significant financial stress. This can be especially challenging for those motivated to pursue new ventures, such as starting a filmmaking project, only to be held back by financial concerns. Unexpected expenses can further complicate matters. When considering personal loans, many […]
If you are planning to procure a credit card and are too overwhelmed with the countless number of calls and messages from the banks claiming that the card is free of charge — then you need to think again. The credit card could be free at the outset, but it is likely to levy an annual […]
Portugal’s D7 visa offers an option for retirees to gain residency if they meet certain passive income requirements. Mint takes you through what you need to apply for the D7 visa, which is also known as Portugal’s passive income visa. Financial eligibility As mentioned earlier, the D7 visa requires applicants to meet certain minimum passive […]
If you are using a credit card then you are entitled to 40 to 50 days of interest-free period to pay your bills. But in case you don’t clear your credit card bill during these days, or you pay only the minimum due amount, you will be liable to pay interest on the days starting from […]
A new proposal for central government pensioners, under the Central Government Health Scheme (CGHS) and the Ex-Servicemen Contributory Health Scheme (ECHS), will likely offer the Pradhan Mantri Jan Arogya Yojana (PM-JAY) scheme as an additional option, reported the news portal Financial Express on Saturday, September 28. According to the report, Shiva Gopal Mishra, secretary of […]
When your ancestors have been great warriors of the sea – looting the British ships to fuel the struggle for freedom – what do you do to survive in times of peace? Old man Singappa tries to explain the survival of four mountain villages to a visitor who comes in search of a smuggler at […]
I’m in my early 30s, married with a young child, and working in an IT company for 10 years. I’ve saved in mutual funds, fixed deposits, PPF, and stocks. We currently live in a rented apartment, but I’ve found a property that fits our budget. The house costs ₹85 lakhs, requiring a ₹25 lakh down […]
Credit cards are often seen as convenient financial tools for spending. However, they can also help you save money if used wisely. Here are some tips to maximize the benefits of credit cards. Choose the right card The first step in making the most of a credit card is selecting the right one. With numerous […]
According to data from primedatabase, as many as 104 SMEs (small and medium enterprises) have used BSE and the National Stock Exchange’s (NSE) SME platform to raise ₹3,405 crore in FY25 so far. This figure already surpasses half of the total funds raised by SMEs in FY24. Most of these IPOs are heavily oversubscribed, driven […]
Let’s consider a real-life example. A friend of mine owned a property for which he was getting offers in the range of ₹4.25 crore to ₹4.5 crore. However, he was determined not to sell for anything less than ₹5 crore. He held onto the property for five years and finally sold it for his desired […]
I filed my income tax return (ITR) as a non-resident Indian (NRI) and it has been processed. If I want to revise the ITR before 31 December do I need to file an updated ITR? I forgot to show some interest income that is taxable at 12.5% under a double taxation avoidance agreement (DTAA). – […]
Volatility is the lifeblood of financial markets. It creates profit opportunities but is also the source of sleepless nights for many investors. While some thrive on the adrenaline rush of market fluctuations, others shy away, deterred by the potential for losses. However, savvy investors understand that managing risk is equally critical. This is where the […]
Regardless of the method, this exercise is crucial, as it leads to a recommended and potentially suitable asset allocation for the client’s long-term investment strategy. Asset allocation is a cornerstone of any robust investment plan. However, the relevance of this exercise diminishes if an investor exclusively seeks equity investments or if the advisor focuses solely […]
You will need to disclose only the interest accrued during the current year on the certificate and not the interest received on withdrawal as you have already offered the interest on accrual basis in the earlier years. This interest will be taxed as income from other sources and will be disclosed in Schedule OS (other […]
If you are a travel freak and have a wanderlust, then raising money for your indulgences may not always come easy. You could be travelling and spending at a frantic pace without having to worry over money at all. All you could, however, possibly do is to borrow money. And when it comes to borrowing, […]
Amitabh Bacchan was nicknamed the angry young man because he was fighting against the system in the movies, and despite the ghastly sound effects of ‘dishoom-dishoom’, you smiled because he had the chutzpah of calling the ambulance before he beat up the bad guys. Released on National Cinema Day celebrated in India on September 20, […]
A number of banks have lately rolled out new deposit schemes to woo the current and new depositors. Some of these schemes are rolled after making minor tweaks in the regular deposit schemes. For instance, Bank of Baroda (BOB) has rolled out a recurring deposit plan which is similar to a recurring deposit wherein depositors […]
Credit cards are one of the easiest ways to buy your favourite products without paying for them in cash immediately. But what does it mean for banks that provide you credit? How do they benefit by lending money to you? Or do they have to wait till the due date to get their money back? […]
Starting next month, mobile phone users will not receive any unapproved web links via SMS. The Telecom Regulatory Authority of India (TRAI) has recently announced that telecom operators must ensure that only whitelisted links are sent. The deadline for telecom operators to ensure this happened was supposed to expire on September 1, but it has […]
Managing credit card bills can feel daunting, especially for newcomers to the world of credit. But don’t worry! Whether you prefer the convenience of online payments or the traditional touch of offline methods, we’ve got you covered. Paying your credit card bill on time is crucial—not just to avoid pesky late fees and interest charges, […]
Finance minister Nirmala Sitharaman on Wednesday launched NPS Vatsalya Yojana to give an early head-start to children to save for retirement. Parents can open an account for their child from birth to up to 17 years of age. When the child turns 18, the Vatsalya account will convert into a regular NPS account, allowing employer […]
While strategies like using multiple Permanent Account Numbers (PANs) or shareholder quotas might slightly improve allotment chances, the odds still remain slim. Bajaj Housing’s recent blockbuster IPO, for example, saw prices double, but few managed to secure the shares. So much so, that X (formerly Twitter) was flooded with memes highlighting the struggle to secure […]
Union Labour Minister Mansukh Mandaviya said on Tuesday that subscribers of the Employees’ Provident Fund Organisation (EPFO), the government-run retirement savings manager, can now withdraw up to ₹1 lakh at once from their accounts for personal financial needs, an increase from the previous limit of ₹50,000, according to report by Hindustan Times. The labor ministry […]
Credit cards are quite useful in managing your financial requirements. For individuals with a stable but fixed income, especially the salaried, credit cards are a handy tool as it allows you to meet expenses without spending your earnings immediately. The credit free period of 18-55 days offered by most issuers, which come with multiple reward […]
The concept is simple: For those living in apartments without enough space to install solar panels, SundayGrids helps you buy solar panels that are put up elsewhere. The electricity generated by these offsite panels is credited against your electricity bill. It’s a novel solution that makes users feel like they have solar installed at their […]
A lot has been discussed about active versus passive mutual funds, and how to choose between their categories. With many active funds, especially large-cap ones, struggling to consistently outperform their benchmarks, investors are increasingly turning their attention to passive funds. But did you know that within the passive large-cap space—the top 100 companies by market […]
My father had a few bank-fixed deposits and passed away in July 2024. He did not write any will. I am the nominee for all the fixed deposits he holds. Since my father had no tax liability, he used to give Form 15H, so no TDS has been deducted in the past. I want to […]
Some countries offer a pathway to permanent residency following such post-study jobs, but the requirements vary significantly for each. Some countries even offer post-study work options for students not pursuing a degree course, but these often don’t have the best terms and carry a risk of fraud. Also, the immigration policies of governments can change […]
India’s small savings schemes, long cherished for their high interest rates, are under the scanner. The government has announced a strict crackdown on irregular Public Provident Fund (PPF) and Sukanya Samriddhi Account (SS) accounts, stripping them of their attractive 7.1% and 8.2% interest rates. Instead, such accounts will either earn no interest or a reduced […]
Kareena Kapoor Khan alone carried the film Jaane Jaan (2023) on her capable shoulders despite support from good actors like Vijay Verma and Jaideep Ahlawat. This time she plays a grieving mother/cop who puts away the killer of her son and seeks a transfer to a smaller town. But small towns like Wycombe in England […]
When you are looking for bank fixed deposits (FD), one factor to consider is the highest rate of interest offered by different banks. The general thumb rule is that banks tend to offer higher interest rates for long-duration deposits and lower rates for shorter duration. For instance, a five-year FD will offer a higher interest […]
If you own a credit card, you can explore a number of offers given by banks. These include the offers at eateries and restaurants in your city and beyond. It is recommended to check these offers before they expire. These offers are given by the cards issued by almost all top banks such as HDFC Bank, ICICI Bank, Kotak […]
If you are using UPI Lite for small-value transactions, then there is good news for you. Starting October 31, you will be able to use auto top-up option for reloading the amount of your choice in your UPI Lite account. By issuing a circular dated August 27, the National Payments Corporation of India (NPCI) has […]
A HUF consisted of a father, his wife and their son. The wife passed away in 2010, but the HUF continued with the father and son as members. Differences arose between the father and the son. The son was allotted specific properties and separated himself from the HUF. No order was sought from the Income […]
At its core, factor investing targets specific characteristics, or “factors,” in stocks that have been shown to deliver returns above what most diversified portfolios achieve. While rooted in rigorous academic research, it’s not just about chasing trends. Ajay, who’s been riding the momentum factor for the past two years and happily counting his gains, might […]
I’m planning to return to India after working abroad for 35 years. I have some FCNR deposits. I have been advised to convert them to RFC deposits upon my return. Like FCNR deposit interest, is RFC deposit interest also tax free?—Name withheld on request Returning Indians have the option to convert their FCNR (foreign currency […]
If you run short of cash and plan to withdraw your mutual fund investments, take a pause. There is another option: You can take a loan against mutual funds and not disrupt the long-term potential compounding of your investment. Several banks offer loans against mutual fund units at interest rates ranging from 10-15% per annum. […]
Wadhwa started her journey when Facebook was thriving and Instagram was a photo-sharing platform. During this time, she created her online persona, Miss Coco Queen, a name that reflects her love for Coco Chanel and Alexander McQueen. “Back then I used to operate through blogs and Facebook posts, there was no video,” she recalled. Making […]
While the quality of life in Melbourne is superior, it comes at a heavy price — both literally and metaphorically. “We miss family and the general lack of community the most. Australia is a lonely country. That’s the primary reason we want to move back,” said Saurabh. “Also, the cost of living as a percentage […]
Behind the allure of a lump-sum insurance payout lies a harsh reality: many families struggle to manage it wisely, often exhausting it too quickly. Aditya Birla Sun Life Insurance (ABSLI) and Policybazaar are aiming to change that with their new ABSLI Income Suraksha Plan, which offers a steady monthly income for beneficiaries instead of a […]
I live in a rented flat in Noida, U.P., paying a rent of less than two lakh per annum (INR). The flat owner is an NRI residing in Dubai, UAE. Please advise whether I, as a tenant, must deduct tax before paying rent every month to the NRI landlord. If yes, how much deduction is […]
Approximately 4,300 Indian millionaires are expected to move abroad in 2024, with a majority of them preferring to relocate to Dubai, the UAE, according to a recent Private Wealth Migration Report by Henley & Partners. Here’s an overview of how the Golden Visa programme works. Application process The most popular way of applying for UAE Golden Visa […]
Have you ever wondered what can you do if you want to open a fixed deposit account but do not have access to a large sum. Is this possible to accumulate the deposit money in tranches? Well, Bank of Baroda offers systematic deposit plan (SDP) to those depositors who want to start an FD (fixed […]
With the UPS (Unified Pension System) soon to become a reality in the next financial year, several government employees may decide to opt out of National Pension System (NPS) for UPS. It is noteworthy that the UPS will for the time being be open only for the central government employees, which means the salaried employees […]
Prior to investing in a fixed deposit (FD), depositors tend to compare the interest rates offered by different banks so that they can choose one bank over the other. Typically, the rate of interest and the tenure of FD go hand in hand. This means the longer the FD tenure, the higher the interest rate. […]
As you are aware that the Union Government is set to roll out the Unified Pension System (UPS) from April 1, 2025 to give fixed, inflation-linked pensions to subscribers. As of now, the scheme is meant only for 23 lakh central government employees and the state government employees are permitted to opt for them. Wealth […]
Possessing a credit card is not only uncommon but somewhat close to financial necessity in current times. However, before you procure a credit card, be mindful of a number of thumb rules; for instance, the unpaid dues accrue a very high rate of interest — sometimes as high as 3-4 per cent per month or […]
I’ve taken a two-year leave of absence from my job to travel and indulge in my interests. My revenue from mutual fund redemptions last year was ₹5.1 lakh; all of these were long-term holdings. The approximate long term capital gain was ₹2 lakh. Is there going to be any tax due this year, and if […]
Dr. Sarvepalli Radhakrishnan, India’s former President and one of the nation’s most revered educators, once said, “The true teachers are those who help us think for ourselves.” As we celebrate Teachers’ Day on September 5th, Dr. Radhakrishnan’s birthday, it’s important to recognize that everyone we encounter has something to teach us. The real question is—do […]
In complete contrast to the conventional rules of investing, a recently released Sebi study showed that retail investors sell nearly half of their holdings in initial public offerings (IPOs) within a week. Individual investors sold 50 per cent of the shares allotted to them by value within a week of listing and 70 per cent […]
My son resides in the US, whereas I stay in Pune. My son owns two house properties in Pune. Can I pay municipal taxes on his behalf for those properties? —Name withheld on request I assume that your son is a non-resident since he resides in the US. According to Foreign Exchange Management Act (Fema) […]
The growing influence of financial influencers, or “fin-fluencers,” on social media has sparked a lively debate about their role in shaping the investment decisions of the youth. In a thought-provoking episode of “The ALT View” presented by StockGro, students of IIM Bangalore discussed this emerging phenomenon and its implications with industry experts Ajay Lakhotia, CEO […]
About 4.2 million of WazirX’s 16 million users were struck by a massive hack of the cryptocurrency exchange on 18 July that wiped off 40-50% of their crypto balances. Most of those affected users were Indians. But in the month and half since the $230-million hack there has not been any legal or regulatory action […]
Salary is taxable on a ‘due’ or ‘receipt’ basis, whichever is earlier. As you have retired in February 2024, the leave encashment became due to you in February 2024 itself. While section 10(10AA) of the Income Tax Act, 1961, provides an exemption for ‘payment’ towards leave encashment received, one would need to read the exemption […]
As September 2024 unfolds, several key developments are poised to impact personal finances, with changes ranging from LPG cylinder costs to new credit card regulations. Staying updated on these shifts can help you manage your budget more effectively and steer clear of unexpected financial challenges. Here’s a look at the top five changes you should […]
I have Long Term Capital Gain (LTCG) on selling an ancestral urban agriculture land. How can I save taxes on such long-term capital gains? Regarding the sale of agricultural land capital gain, which is taxable because it is not farmland and is not treated as a capital asset for taxation purposes, an individual and HUF […]
I want to purchase a property in the joint names of the husband and his wife. The property’s value is above 50 lakhs. The husband insists that the TDS on the sale proceeds of the property be deducted in his name and his name be mentioned in form 26QB. But the net sale amount chequesshould […]
Unified Payments Interface (UPI), which has emerged as the world’s most popular alternative payments method (APM), processed transactions to the tune of ₹80.8 lakh crore ($964 billion) in April-July 2024, a sharp 37% year-on-year (y-o-y) surge compared to the same timeframe the previous year. Transaction metrics and global comparison UPI processed a staggering 3729.1 transactions […]
The Association of Mutual Funds in India (AMFI) recently laid out guidelines for front-running and fraudulent transactions. The AMFI’s move, which comes nearly a month after SEBI’s nudge in response to front-running allegations against Quant MF, is an attempt to tighten regulations for better transparency. Despite the market regulator’s proactive role, mutual fund investors are […]
Before you decide to open a fixed deposit (FD) account in a bank, it is incumbent upon you to compare the interest rates offered by different banks. The interest rates usually do not vary much from lender to lender. However, there is a rule of thumb that applies to most lenders uniformly —the longer the […]
If you are staring at the shortage of funds on account of a wedding party that you have planned, an unanticipated emergency that has arisen, or a vacation that you have been looking forward to — you can arrange the money via a personal loan. You can raise a personal loan from a government bank such […]
One of the key objectives of investing is to meet your financial goals. And if you have already achieved them, what should be your course of action? The standard response would be to redeem your investments and withdraw the money so that you can use the same towards your goals. However, this is not an […]
Family charters, also known as family constitutions, serve as a fundamental document for governing family-owned businesses to ensure smooth succession across generations. These charters are crafted by promoter families to codify values, set guidelines, and provide a roadmap for future business continuity which can ultimately help in keeping family harmony. In this article, we will […]
Typically, banks offer fixed deposits with a maximum tenure of 10 years. There is no bank that offers an FD with a tenure longer than 10 years. This may change soon. Suryoday Small Finance Bank plans to stretch the maximum tenor of a Fixed Deposit (FD) to over 20 years, and the depositors will also […]
HDFC Ergo raises premiums, Star Health to hike premiums by 10%-15% for 30% of its policies, Niva Bupa and New India also to increase rates. After HDFC Ergo General Insurance that raised premiums for its flagship health insurance products ‘Optima Secure’ and ‘Optima Restore’ from August and Star Health and Allied Insurance said it is […]
There are layers upon layers, from rent to the time of selling to home loans. For instance, most of the rules applicable to a house or commercial property are not applicable to land. If a land owner earns rent, lease, or any other form of income on vacant land (without any construction), such income is […]
It is understandable that procuring a personal loan is the last resort for a lot of people. Every time a salaried individual encounters financial trouble, the first option that s/he thinks of is to procure a personal loan. A personal loan is an unsecured loan which can be processed seamlessly by applying with a bank or an NBFC and […]
The Government of India has announced the Unified Pension Scheme (UPS), a new pension plan for employees working under the government. The new scheme will provide an assured pension scheme to benefit nearly 90 lakh pensioners under the central government. The central government launched the UPS to cater to the demands of the employees regarding […]
Sovereign Gold Bonds (SGBs): The Reserve Bank of India (RBI) has released a calendar for the premature redemption of the Sovereign Gold Bonds (SGBs) issued between May 2017 and March 2020. The central bank plans to process the redemption of 30 SGBs from October 11, 2024, to March 1, 2025. According to RBI guidelines, SGB […]
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Saturday, approved the Unified Pension Scheme (UPS), which aims to provide assured pension, family pension, and assured minimum pension to government employees. Under the new scheme, employees would get an assured pension of 50 per cent of the average basic pay drawn over the last […]
Banks will remain closed on Monday, August 26, in certain parts of the country on account of Janmashtami as per the Reserve Bank of India (RBI) guidelines. Banks will be closed in Ahmedabad, Bhopal, Bhubaneswar, Chandigarh, Chennai, Dehradun, Gangtok, Hyderabad (Andhra Pradesh and Telangana), Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Patna, Raipur, Ranchi, Shillong, Shimla and […]
Mutual fund investors tend to compare the returns delivered by different schemes before investing. Usually, retail investors compare the returns delivered by schemes in the same category before opting for one mutual fund scheme over another. It is worth noting that wealth advisors typically urge investors to make an investing decision based on an interplay […]
Special FD schemes: To deal with falling deposits, several Indian banks have launched limited-period special Fixed Deposit schemes on fixed tenure with higher interest rates. Many of these fixed deposit schemes, launched over the past two months, can be a good investment option for Indian investors seeking a reliable and steady return on their savings. […]
The deadline to file an income tax return (ITR) passed on July 31, 2024, following which eligible taxpayers received either a refund or an income tax (I-T) notice intimating them that there was something amiss in their income tax return (ITR). It could be because of a defective I-T return or a pending assessment. Let […]
MUMBAI : Zerodha on Wednesday stopped its popular referral programme after the National Stock Exchange of India’s (NSE’s) 14 August circular mandated that all referral fee earners be registered as “authorized persons” or APs with brokers and stock exchanges. The broking industry, as a whole, leveraged the power of financial influencers to grow their business […]
The mutual fund industry in India has witnessed a seven-fold growth in the past 10 years with the assets under management (AUM) growing from ₹8.3 lakh crore in December 2013 to ₹61.2 lakh crore in June 2024, a Motilal Oswal report for the quarter ending June 30, 2024, has revealed. The report ‘Where the Money […]
My brother-in-law passed away in a hospital last year. Before his death, he gave oral instructions on how he wanted his assets divided and asked me to carry out his wishes. He did not leave behind a written will. Now, his mother is claiming a share of his assets, which my sister is contesting based […]
The Reserve Bank of India (RBI) has issued the framework for recognition of self-regulatory organisation (SROs) in financial markets. This framework released on Monday was done in the aftermath of ‘Omnibus Framework for recognition of SROs’ which were issued early this year in March, 2024. It is noteworthy that RBI recently invited applications for recognition […]
With a joining fee of ₹5.9 lakh and an annual renewal of ₹3.54 lakh, Primus has positioned itself as India’s most expensive credit card. This ultra-premium offering is aimed squarely at the country’s elite, and its closest rival, the American Express Centurion, charges even more for membership, with a joining fee of ₹8.26 lakh and […]
NEW DELHI : Insurance is the first step towards financial planning. We buy policies to insure ourselves against unfortunate events. However, having insurance does not always guarantee protection. Claim requests are often rejected, citing non-disclosure of pre-existing diseases, lifestyle habits, or having multiple policies. Most of the time, policyholders are caught unawares as it’s an […]
With new skill-based gigs emerging as viable options for generating income, more young professionals are now seeking jobs they can do in their spare time. Here’s a look at how some are pursuing their passions while creating additional income streams. Organizing spaces Raina Jain, a 32-year-old finance professional based in Mumbai, has been balancing a […]
Banks in multiple cities will be closed on Monday, August 19 on account of Raksha Bandhan. The Reserve Bank of India (RBI) in its official list of holidays has designated August 19 as a holiday for banks in various cities on account of Raksha Bandhan, Jhulana Purnima and birth anniversary of Bir Bikram Kishore Manikya […]
I am 78. I sold a shop I purchased in 1999 for ₹2.40 Lakh and spent ₹1 lakh on better looks and convenience in 1998. I am planning to sell it for ₹18 lakh in August 2024. Can you advise me how much the capital gain will be?How can I save the tax? As the […]
No, you aren’t. However, if the gift were from a non-relative, let’s say a friend, you would’ve needed to pay taxes to be on the right side of the law. When it comesto the tax treatment of gifts, the rules are pretty specific. Gifts received from relatives are fully exempt. Gifts from non-relatives up to […]
ITR refund scam: The Income Tax Department (IT) has cautioned taxpayers to beware of scams. According to the IT department advisory, taxpayers should stay vigilant against online scams such as fake calls and pop-up notifications stating that they can avail of tax refunds. ऑनलाइन धोखाधड़ी से सावधान रहें pic.twitter.com/UtGD7QAWLG — Income Tax Mumbai (@IncomeTaxMum) August […]
I have turned 50. I have been investing in equity mutual funds for various goals. At what age should I switch from equity to debt? This is a critical question for which different people give different advice. The answer would also vary depending on the specific goal for which specific investments were made and the […]
The aim is to include assets that are uncorrelated or have low correlation with each other. Equities, debt, cash and gold are the most common asset classes in a portfolio, each providing a distinct flavour and benefit. Equities, while having the potential for higher returns, can be volatile in the short term, triggering concerns over […]
We’re back in a small town called Chanderi, and this time the town is haunted by a headless monster who’s kidnapping young women who are smarter than what’s socially acceptable. Did you scratch your head to say, ‘Whaaa…?!’ Pankaj Tripathi who plays Rudra Bhaiyya is here to help: Are you a woman who prefers to […]
I am a non-resident Indian (NRI)) and have my own business in Dubai. I have invested in shares as well as mutual funds in India. I have received dividend on shares and mutual funds. Can I get any benefit of lower taxation under treaty for dividend income? —Name withheld on request Under the India-UAE Double […]
The current stock market boom has instilled a sense of euphoria in investors as their net worth soars alongside rising stock prices. However, this wave of optimism can easily breed complacency and overconfidence, making it crucial to remain cautious in such markets. Humans are uniquely prone to getting swept away during extreme times—after all, we […]
Medical inflation ranges from 15% to 45% compared with normal inflation of 6-8% per annum. With more people falling prey to lifestyle diseases, retirees have to deal with the astronomical costs of medical treatment for not only themselves but their spouses as well. Spending on the healthcare sector has increased tremendously in the past few […]
Have you ever wondered what you would do if you had a fixed deposit with an NBFC but wanted to prematurely withdraw it due to an emergency? Well, the latest guidelines issued by the Reserve Bank of India (RBI) make provision for this. The banking regulator released a regulatory framework via a circular dated August […]
As your employer had disclosed the income from exercise of the ESPP, you would be owning the shares listed overseas. Therefore, you would need to disclose such shares in Schedule FA (foreign assets) of your income tax return. Any asset owned overseas by a resident (other than a not ordinarily resident, or NOR) must be […]
NEW DELHI : India had 162 million demat accounts as of June, and 93 million SIP (systematic investment plan) accounts as of July—a strong indicator of increasing financialization in the country. Still, there are places where terms like “Sensex” or “Nifty” are foreign to people. Kargil, in the Union territory of Ladakh, over 200 kilometres […]
Known for his aggressive investments directly in stocks and small- and mid-cap mutual funds, Kumar is now seeking a more balanced and goal-oriented portfolio. “During the pandemic, my stock portfolio took a significant hit, and some of the stocks never fully recovered. I don’t want to face such a situation again as I work towards […]
FD interest rates: These five banks offer highest rates on their 3-year term deposits? Check details
Before opening a fixed deposit (FD) with a bank, depositors tend to compare the interest rates offered by a bank with those of other banks. Typically, banks offer higher rates of interest on long term deposits. This means longer the duration, higher the rate of interest. Conversely, shorter the duration, lower the rate of interest. […]
Public-sector banks such as Bank of Baroda, Canara Bank, and UCO Bank, have increased their Marginal Cost of Funds-based Lending Rates(MCLR) in different tenures which will result in higher costs for consumer loans. Marginal Cost of Funds based Lending Rate (MCLR) is the minimum lending rate below which a bank is not allowed to lend […]
A new Bill proposed in the Parliament has a provision which says that deposit and locker holders can name up to four nominees instead of one. The Bill that carries this provision is Banking Laws (Amendment) Bill which was introduced in Lok Sabha on Friday. The Bill also has provisions for new reporting dates among […]
The Reserve Bank of India (RBI) recently instructed banks and credit information companies (CICs) to update the credit information they collect at shorter intervals, i.e. once a fortnight rather than once a month. The instructions were issued on Thursday via a notification after the monetary policy statement by RBI Governor Shaktikanta Das. The central bank […]
Several political leaders are demanding the withdrawal of the Goods and Services Tax (GST) imposed on life and health insurance policies. Ministers and politicians such as Congress leader Rahul Gandhi, West Bengal Chief Minister Mamata Banerjee, and Union Minister Nitin Gadkari, have voiced their concerns over high GST rates on insurance as it is a major impediment […]
The Indian stock market has a history of both significant peaks and subsequent corrections; be it the Dot-Com Bubble and the subsequent crash, or the global financial crisis of 2008. Market trends are clearly influenced by both domestic and international events, and investor sentiment and behaviour are critical components of these market cycles. Market volatility […]
Reserve Bank of India (RBI) Governor Shaktikanta Das announced Thursday that the central bank will create a public repository of digital lending apps (DLAs) deployed by regulated entities, i.e., banks and other financial institutions. This means any digital lending app deployed by a bank or non-banking financial corporation (NBFC) must be part of the repository. […]
Now that you have filed your income tax returns, you must be wondering when you will receive your income tax (I-T) refund. And if you have not yet filed your return, you can still file a belated return before December 31, 2024, by paying a penalty. For more details about filing a belated return, you […]
Land and building owners now have a reason to cheer. The government has proposed an amendment to the Finance Bill 2024 regarding long-term capital gains (LTCG) tax, thereby relieving property owners of the extra tax burden that would have arisen on account of the latest changes announced by Finance Minister Nirmala Sitharaman on July 23 […]
While benchmark indices, the Nifty50 and the Sensex 30, witnessed a steep fall of around three per cent in a single trading session on Monday, several mutual fund houses, including HDFC Mutual Fund and ICICI Prudential Mutual Fund are set to launch their schemes. Here, we list out some of the mutual fund schemes that […]
As Japanese currency Yen hits seven-month high against US dollar, there are concerns around the higher cost that would lead to woes for Indian travellers. In the past one month, Yen has risen by 10.84 percent against the US dollar, as per the data revealed on XE.com. Japanese Yen traded at 0.0068962 USD (1 JPY) […]
You submit documents not just once but repeatedly over time. Failure to do so can result in your accounts being frozen, blocking further transactions. This rigorous process is part of anti-money laundering guidelines ensuring institutions have up-to-date customer information. The KYC paradox However, while institutions verify your credentials, you seldom scrutinize the qualifications of those […]
The International Financial Services Authority (IFSCA), which regulates GIFT City, has proposed a reduction in the minimum ticket size for portfolio management services (PMS) from $150,000 to $75,000, or about ₹64 lakh at current exchange rates, according to a consultation paper released on Monday. This brings the minimum ticket size for PMS closer to the […]
Forced to rebuild from scratch, the Mumbai-based couple, now in their early 50s, navigated corporate comebacks and personal sacrifices to stand as a testament to the power of perseverance and being financially savvy. Today, they believe that true wealth lies not just in earning, but in managing what you have. Early life With a shared […]
Whether you are an early investor or a veteran, learning the basics of investing requires a long practice, failures, disappointments and success as well. Else, you can learn these from someone who has been there, and done that. They say that an average person learns from his mistakes, whereas a wise person learns from other’s […]
Income Tax: Want to update your ITR? You can file an updated tax return; Here’s all you need to know
The deadline to file income tax return expired on July 31, taxpayers can, meanwhile, file a belated income tax return (ITR) before December 31, 2024 after paying a penalty. It is noteworthy to mention that a record 7.28 crore tax returns were filed by July 31, 2024 with 72 percent of tax filers opting for […]
The last date to file an income tax return (ITR) ended on July 31, 2024, and taxpayers are now awaiting the refund of excess tax paid. The income tax (I-T) department’s latest data reveals that more than 7.28 crore ITRs were filed till July 31, 2024, 7.5 per cent higher than the 6.77 crore ITRs […]
MUMBAI : India’s markets regulator has devised a seven-point plan to regulate the growing tribe of financial influencers, said Kamlesh Varshney, full-time member of the Securities and Exchange Board of India (Sebi), at the FICCI’s 21st Annual Capital Markets Conference (CAPAM) on Friday. Varshney added that the plan has seven elements, including a mixture of […]