Although more than seven crore income tax returns (ITR) were filed until 7 pm on July 31, 2024, there would still be hundreds of thousands of taxpayers who have yet not filed their income tax returns. Such taxpayers who missed filing their income tax returns on time, i.e., before the July 31 deadline, can file […]

Thanks to a series of online frauds and scams that led to the massive loss of money of gullible investors, the Reserve Bank of India (RBI) is taking tangible steps to make sure that digital payments remain safe. For the unversed, the RBI has, over the years, prioritised the security of digital payments, in particular, […]

Previously, investments in ETFs and FoFs faced distinct tax rules, but the new regulations have streamlined these, creating a more favourable environment for ETFs. This shift not only reduces the time needed to benefit from long-term capital gains (LTCG), but also enhances trading convenience, positioning ETFs as the preferred choice for savvy investors looking to […]

NEW DELHI : Ahead of the Union Budget 2024-25, rumours were rife that tax on futures and options (F&O) would be increased to curb the increasing retail participation in the derivatives market. But while the Centre didn’t touch F&O, barring a nominal increase in securities transaction tax (STT), it increased tax on short- and long-term […]

The answer is yes as long as the money is not directly invested in equities. The Union Budget 2024-25 proposed that “retail schemes and exchange-traded funds (ETFs) set up in Gujarat International Finance Tec-City, or GIFT City, will now enjoy tax exemptions along similar lines as available to specified funds”. “Now retail funds in GIFT […]

I’ve always observed these incidents with a mix of concern and professional interest. Because front-running isn’t a new phenomenon, nor is it unique to any single fund house. This practice, where insiders use advance knowledge of pending orders to trade for their own benefit, has reared its ugly head multiple times in the Indian mutual […]

However, much to their dismay, investors were allotted mutual fund units on the next day, 5 June’s prices, when markets had recovered around 3-4 percent. As per norms, mutual fund units are usually allotted to investors at the NAV of the day on which the funds are received, before the applicable cut-off time. Reportedly, the […]

Despite successfully filing your income tax returns or ITR for this assessment year, your tax refund may be delayed, a social media user claiming to be a Chartered Accountant said. CA Anand Luhar, who claims to be associated with the Institute of Cost & Works Accountants of India (ICWAI), in a post on X (formerly […]

The Income Tax Department has asked all citizen filing income tax returns to not make bogus claims for expenses, under-report their income or exaggerate deductions, this is a punishable offence causing delays in the issuance of refunds, reported PTI on Sunday, July 28. The income tax return (ITR) filing session for the assessment year 2024-25 […]

The Union government clarified on Sunday that tax clearance certificates would be mandatory only for those accused of financial irregularities or who have substantial tax arrears. The clarification comes after a Budget 2024 proposal that would have made them mandatory for all overseas travellers sparked outrage on social media. In the Finance Bill 2024, the […]

Recently, I was talking to a relative who has a 3-year-old daughter. Being an investment advisor, many of the general conversations with extended families tend to steer towards investments. This relative of mine told me that he is investing ₹1.5 lakh yearly in the Sukanya Samriddhi Yojana account for his daughter’s future. I asked him […]

The Time Variant Authority has captured Deadpool, and a man called Paradox tries to lure Deadpool to the dark side. After all, he has nothing to live for. He’s just celebrated a birthday, his girlfriend has left him, he has no job to speak of, and the Avengers have rejected him… Did I say ‘rejection’? […]

If you have recently sold an asset and are unsure whether the sale will be computed as per the short-term or long-term capital gain tax, then you need to first determine the holding period of the asset. This is the threshold that determines whether the capital gain is short term or crossed over to long […]

With the revision of tax rates in the new tax regime (NTR) announced in Budget 2024, some taxpayers are in a dilemma about the rates at which they have to calculate their income tax liability while filing their income tax returns ahead of the July 31 deadline. In Budget 2024, Finance Minister Nirmala Sitharaman announced […]

With the concerns of the period of reassessment and reopening of income tax file, finance minister Nirmala Sitharaman in budget 2024 has simplified such provisions. Sitharaman has suggested that an income tax assessment window can be reopened beyond three years from the end of the assessment year if the income which is not disclosed during […]

The entire country is eagerly waiting for Budget 2024 wherein Union Finance and Corporate Affairs minister Nirmala Sitharaman to announce changes in income tax rates to reduce the tax outgo of masses. Changes in tax slabs is something that takes place once in a blue moon. The last time these tax rates were changed was seven years ago […]

The Income Tax Department on Monday cautioned against a news clipping of Sandesh news being circulated on social media claiming ‘extension in deadline’ for the ITR filing 2024. The I-T department informed that no such extension has been granted and suggested that tax payers follow updates from the official website or portal of Income Tax […]

My relative was diagnosed with a rare form of cancer requiring treatment of several lakhs. To support him, a few extended family members plan to create a corpus of ₹20 lakh to ensure a regular income stream to meet his basic expenses. Against this backdrop, kindly advise on the following: 1. Will the corpus we […]

Income Tax Return (ITR) filing on WhatsApp: Now income tax returns can be filed via WhatsApp. ClearTax has started this facility. Archit Gupta, founder and CEO of ClearTax, emphasized, “We’re not just simplifying tax filing; we’re democratising financial empowerment. By bringing this service to WhatsApp, we’re meeting people where they are, eliminating technological barriers, and […]

Thanks to the new tax regime which has done away with most exemptions and deductions, taxpayers are now redefining the way they tend to invest and save their income tax. One of the popular investment schemes among retail investors who want to save tax include Equity Linked Savings Scheme (ELSS) which enables investors to stay […]

When shopping for everyday items like personal care products and clothing, women often face a hidden cost known as the ‘Pink Tax’. This phenomenon refers to the higher prices charged for products and services marketed to women than those marketed to men. The pink tax is more than just a pricing variation; it’s a reflection […]

As only two weeks are left before the deadline to file income tax return (ITR) expires on July 31, taxpayers continue to face glitches on the I-T website. As a result of these glitches, a number of taxpayers are requesting the income tax department on social media for the extension of the deadline. One user, Doli […]

What are the key differences between a springing power of attorney, which becomes effective upon incapacity, and a current power of attorney, effective immediately? What important factors should one consider when deciding on which type would best protect one’s assets and meet the estate planning goals? —Name withheld on request One should carefully consider the differences between […]

Banks will remain closed today, July 17, in selected regions of the country on account of Muharram/Ashoora/U Tirot Sing day, according to the Reserve Bank of India (RBI) guidelines. Banks will remain closed in Agartala, Aizawl, Belapur, Bengaluru, Bhopal, Chennai, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur, Ranchi, Shillong, Shimla, […]

Nearly a week after the Reserve Bank of India (RBI) highlighted a gap in deposit and credit growth during a meeting with the top bosses of public and private sector, Bank of Maharashtra and Bank of Baroda have rolled out special tenure deposit schemes in order to fund growing demand for credit. Bank of Baroda, […]

Axis Bank will complete Citi’s credit card portfolio migration on July 15. While this is a major shift for Citi credit cardholders, Axis Bank has assured them that the transition will be smooth. In March 2023, Axis Bank acquired Citibank’s India consumer business for ₹11,603 crore. Here’s how the transition will change credit card transactions […]

Should transactions done on UPI (Unified Payments Interface) be charged? A merchant discount rate (MDR) or a transaction fee is currently not charged for almost all UPI payments (excluding payments through PPI or prepaid instruments) as it is seen as one of the major ways to enhance UPI’s coverage and minimise the resistance to technology […]

The introduction of the new tax regime in India marks a significant shift in the country’s tax landscape, aimed at simplifying tax compliance and potentially reducing tax liabilities for individual taxpayers. Understanding the new regime is crucial for taxpayers to make informed decisions about their financial planning and tax strategies.  In this comprehensive guide, we […]

Investing, a crucial aspect of financial planning, requires a strategic approach that aligns with individual goals and time frames. Whether it’s equities, debt funds, or other asset classes, having a clear investment horizon is imperative for optimising returns and managing risk effectively. Investing with a time frame: Importance across asset classes When it comes to […]

Every tax season brings with it a plethora of usually complicated tax calculations. Figuring out how much taxes to pay, and how many deductions you can claim can be a chore. But apart from that, you can also save some money by the means of how you pay your taxes. This tax filing season, we […]

Net direct tax collection for FY 2024-25 spiked to ₹5.74 lakh crore till July 11, 2024, witnessing a jump of 19.54 percent over the preceding fiscal, data released by the income tax (I-T) department indicated. The gross collection of direct tax rose to ₹6.45 lakh crore, thus showing a jump of 23.24 percent. Meanwhile, income […]

ITR filing: The income tax department wants certain taxpayers to report various assets and liabilities to detect cases of disproportionate assets owned by a taxpayer compared to his known sources of income. The report can be divided into two parts: first, those taxpayers with incomes over 50 lakh rupees, and second, foreign assets owned by […]

When people invest in a term deposit, they generally look for a bank that offers the highest rate of interest. The rule of thumb is that the longer the tenure of the deposit, the higher the interest rate. For instance, short-term bank FDs (up to six months) generally offer an interest rate between 3 and […]

As the last date to file an income tax return (ITR) looms closer, taxpayers are seen scurrying around to gather the necessary documents. The last date for filing the return is July 31. And once you have filed your tax return, it is important to verify the same within 30 days. Recently, the I-T department […]

The State Bank of India (SBI) has introduced MSME Sahaj, a new initiative designed to cater to the working capital requirements of micro, small, and medium enterprises (MSMEs). This web-based solution is aimed at facilitating fast and convenient invoice financing for MSMEs. Interpreting MSME Sahaj’s utility According to the bank, MSME Sahaj can swiftly approve […]

When filing your income tax return (ITR), you should declare the income that accrues in India and the income that grows abroad. The income Tax department on the X platform posted that you are meant to fill the foreign asset schedule as a resident income taxpayer if you own an asset abroad or have a […]

This is the last month to file income tax return (ITR) for individual tax payers. If you don’t intend to pay a penalty, then it is imperative to file your ITR before the month ends i.e. before July 31, 2024. No wonder taxpayers and chartered accountants are busy filing income tax returns on the e-filing […]

The deadline for filing income tax returns (ITRs) is July 31. Most individuals have likely received their Form-16 by now. Experts advise taxpayers to avoid last-minute filing to minimise errors. How to file ITR You can file your ITR through e-filing portals, apps, or with the assistance of chartered accountants. If filing independently, you’ll typically […]

If you have yet to file your income tax return (ITR) for FY2023-24, be sure to do so before the deadline, which expires on July 31. And even if you don’t have Form 16 in your possession, fret not! You can still file the return by using information available in other relevant documents, say experts.  […]

India’s recent inclusion in JPMorgan’s Emerging Market Bond Index (EMBI) marks a significant milestone for our country’s financial markets. As someone who has long anticipated this development, I believe it presents a compelling opportunity for fixed income investors to capitalise on the changing landscape. This move is not just another headline—it’s a fundamental shift that […]

I have been working in merchant navy for five years. Every year, the high seas voyage amounts to about six-seven months. However, during FY24, due to my marriage, I could not serve for long and the period of voyage was only about five months. What will happen to the salary that I have received in […]

The key question, therefore, is whether this new metric will genuinely help investors make better and informed decisions or just complicate the landscape further. The information ratio measures a fund’s outperformance against a benchmark, divided by the volatility of this outperformance. This metric aims to convey not just outperformance but also its consistency. The Sebi’s […]

When it comes to managing money or investing, we all feel like our way is the right way because it works for us. We convince ourselves that the financial choices we have made are the ones that work best for us. There is no empirical way to prove the accuracy of such a belief. However, […]

DA hike news: After the announcement of a 4 percent Dearness Allowance (DA) for the central government employees effective from 1st January 2024 and the subsequent rise of the Dearness Relief of 4 percent to the pensioners of the central government, the DA and DR for the central government employees and central government pensioners has […]

The Reserve Bank of India (RBI) penalised five banks including Punjab National Bank (PNB) with various RBI directions, reported The Economic Times. RBI imposed a penalty of ₹1.31 crore on PNB, which became the fifth bank for getting the wrath of the banking regulator. Other banks fined by the RBI are The Gujarat Rajya Karmachari […]

In anticipation of Budget 2024, experts foresee Lakhpati Didi 2.0 as a potential game-changer for rural women’s economic empowerment. The revised approach aims beyond income targets, focusing on sustainable business models, skill development, and market linkages. Finance Minister Nirmala Sitharaman unveiled the ‘Lakhpati Didi’ scheme during the Interim Budget 2024. The scheme aims to empower […]

As a taxpayer, you must be aware of the fact that the new tax regime is now the default regime. Therefore, one has to opt for the old tax regime in case they want to avail one or more tax deductions and exemptions. The last date to file income tax return for financial year 2023-24 […]

(Reuters) – The U.S. dollar was hovering near three-week lows on Friday ahead of payrolls data that will likely influence the outlook for rates, while the pound was firm as the Labour party looked set to win a massive majority in the UK general election. Sterling was last at $1.27575, little changed in early trading […]

In today’s volatile financial landscape, investors are in a constant quest for higher yields without escalating risk. Traditional savings options, such as fixed deposits and government bonds, offer paltry returns, making it imperative to explore alternative investment avenues. Debt PMS has emerged as a promising solution, providing a customised approach to fixed-income investments. But what […]

Specific incomes are generally not included while filing the ITR due to ignorance or oversight, not deliberately. This article deals with the incomes omitted that are to be included in the ITR. Saving Bank account and Fixed Deposit interest While filing the ITR, salaried people generally disclose their salary income only or provide form No. […]

As the Budget 2024 is around the corner, taxpayers are expecting some major overhaul in the capital gains tax. Thanks to the series of provisions that come into play while computing long term capital gains, investors and taxpayers are hoping for the revision in the legislation so that the confusion around capital gains tax, and […]

Employee Provident Fund (EPF) and National Pension Scheme (NPS) are two essential retirement-savings tools for employees that help them build a tax-efficient corpus. If an employee plans smartly with either or both, he can retire with a handsome corpus. EFP vs NPS EPF is a scheme run by the Employee’s Provident Fund Organisation (EPFO) to […]

Bajaj Allianz Life introduced the Bajaj Allianz Life Nifty Alpha 50 Index Fund, which will be accessible to customers who currently own or plan to purchase unit-linked insurance products (ULIPs). For those unfamiliar, this is a market-linked index fund designed to replicate the performance of the Nifty Alpha 50 index. This index comprises 50 large-cap […]

A recent survey conducted by Axis Mutual Fund nationwide showed an increasing number of women assuming control of their financial futures. This shift is significant because historically, investment decisions were predominantly male-dominated. The survey’s findings indicate a rising trend towards greater financial independence among women. The survey also highlights that women prefer mutual funds, which […]

Axis Bank and Piramal Finance have partnered to establish a co-lending business aimed at extending loans to underserved segments in India. This partnership aims to reach middle and low-income borrowers who lack access to traditional banking services, as well as to expand financial inclusion into rural and semi-urban areas beyond major cities. The newly established […]

The other day, I took my little one to play in a nearby garden. Kids being naturally curious, he bombarded me with questions about the trees, plants, flowers, and the variety of flora we encountered. As we wandered among the blooms, his questions sparked a chain of thought in my mind. Reflecting on his inquiries, […]

Das started his financial planning journey in 2020, but he was not a first-time investor. “I had made my first mutual fund investment in 2012 and kept making investments here and there, even in some stocks. However, I had to withdraw nearly all my investments in 2016 to cover my wife’s medical emergency and make […]

Personal Loan Rates: Over the past few months several private lenders such as ICICI Bank, Kotak Mahindra Bank, HDFC Bank, and Axis Bank had increased interest rates on personal loans (PLs) after the Reserve Bank of India (RBI) had deemed them as riskier in November 2023, said a report by the Economic Times. Citing data […]

There has been a shift in spending trends among consumers. With the increase in cashless transactions, a study revealed that people are spending more than before. The study was conducted by a team from University of Melbourne and University of Adelaide, it analysed 71 papers and looked at spending habits of 17 countries published in […]

The Indian Income Tax Department provides various income tax return (ITR) forms tailored to different taxpayer scenarios. Selecting the appropriate form ensures precise and streamlined reporting of your income.  The Central Board of Direct Taxes (CBDT) released seven ITR forms for FY 2023-24 (AY 2024-25). The determination of which ITR form to use depends on […]

HDFC Bank will implement revised credit card terms effective August 1st, 2024, aligning them closely with industry standards observed by other banks. The revised credit card terms include: HDFC Bank will introduce a new fee structure for credit card rent payments made through third-party apps such as CRED, Paytm, Cheq, MobiKwik, Freecharge, and others. The […]

Rachna Khare, 55, from Bhopal, understands this deeply. She recently established a trust for her 28-year-old son, Rachit. “By the time my son turned 21, we helped him transition to an assisted living setup. Once he settled, we focused on securing his financial future and consulted professionals who advised us to create a trust,” Khare […]

Passive investments have seen significant growth in recent times, driven by increased investor interest in the benefits they offer. According to te Association of Mutual Funds in India (AMFI), the share of passive funds in the mutual fund industry grew from 5.8% in April 2019 to 17.5% in March 2024. Passive investing involves tracking a […]

You often hear that it is essential to diversify mutual fund investments across asset classes and categories. However, it’s equally crucial to vary investment styles within a category. You can pick a fund following growth investing style and a value style that tend to do well during different cycles of the economy. Growth style typically […]

This oversight is common among NRIs, and can turn what should be a straightforward transaction into a bureaucratic nightmare. “Not voluntarily filing ITRs is a mistake many NRIs make, especially those who own properties in India,” said Urvil Modi, founder and chief executive, Samriddhi Wealth Management, a Sebi-registered investment advisor.  “The assessment officer (AO) relies […]

Well, if you stick with me till the end today, you will perhaps feel better about yourself. And, maybe also figure out a way to get back in. (Of course), let’s start with Warren Buffett. While we know him for being one of the most successful investors of all time, it is important to know […]

Doing it early will give you time to collect all the information and file the ITR correctly. First, you should reconcile the information in Form 26AS with TDS certificates, Form 16 and bank statements. Then, check whether the information captured in 26AS is reflecting correctly in AIS. If not, it could be because your AIS […]

It’s been a little over two years since Axis Mutual Fund (Axis MF) faced a front-running scandal. Since then, the fund house has undertaken a significant restructuring of its senior management to set its house in order and improve the performance of its schemes. It got a new chief executive officer (CEO) and chief investment […]

In this article, while we will try to establish a structure to personal financial audits, we should also acknowledge that since we are emotionally attached to our finances (and we also have our own biases), it would be necessary at times and for some people to have some external intervention, like getting professional investment advisers […]

Fund managers help grow their customers’ wealth, but have you ever wondered how much they earn themselves? In 2016, the Securities and Exchange Board of India (Sebi) mandated asset management companies (AMCs) must disclose annual remuneration of their fund managers and other executives on their websites. The aim was to improve disclosure norms for funds. […]

With this fund, Khemani, a Portfolio Management Service (PMS) manager, aims to capitalize on India’s economic trajectory, betting on sectors expected to undergo substantial growth, including manufacturing, banking, infrastructure, and consumption, as the country targets a $29 trillion GDP by 2047, accounting for an estimated 16% of global GDP. This strategy also reflects Khemani’s confidence […]

As the season of bonuses arrives for many working professionals, deciding the most effective way to utilize this annual financial boost can significantly influence one’s fiscal health. From eliminating high-cost debts to investing in personal growth, experts provide a roadmap for converting these lump sum windfalls into lasting financial benefits. View Full Image (Graphics: Mint) […]

This decision is not straightforward, as the cash value received upon surrender is usually significantly lower than the premiums paid. For instance, a client approached 1 Finance, an investment advisory firm registered with the Securities and Exchange Board of India (Sebi). He had an extensive portfolio of 13 endowment policies, with annual premiums totalling nearly […]

Pandey, who retired more than two decades ago and now relies on his pension and mutual fund (MF) systematic withdrawal plans (SWPs), admits that he did not feel the need to commit to any serious investments for a long time after retirement. Retirement Using his retirement benefits, a significant contribution from his son who was […]

Most people fear the idea of estate planning or laugh it off thinking they are immortal. Estate planning is about ensuring your loved ones or a third party get access to your assets in a manner that you would want them to. Estate planning at its core is about putting arrangements in place for how […]

The UK scenario One cannot access pension funds before the retirement age. It has to be either transferred to Qualified Recognised Overseas Pension Scheme (QROPS) in India or one can continue holding it till retirement in the UK.  After retirement, Indians can get it in the specified bank account in India. In case of transfer, […]

In a landmark ruling, the Karnataka High Court has pronounced specific regulations for international workers within India’s provident fund law as unconstitutional and arbitrary. To comprehend this decision, it’s essential to review the legislative context: The provident fund legislation defines an international worker as an employee who holds a foreign passport and is employed in […]

Guin began his career in software sales, but now works in a strategy role at a large telecom firm, which he transitioned to after earning an executive MBA at the Indian Institute of Management, Ahmedabad. He discovered the FIRE movement on social media in 2018, but his interest deepened during the covid pandemic in 2020. […]

Sector rotation sounds easy to implement, but it can be a complex undertaking. This is because all sectors in an economy do not perform equally well at any given point of time. Different sectors peak and fall at various stages in an economic cycle. By entering or exiting various sectors at the right time, one […]

Occasionally, clients send us details of portfolio management services (PMS) product offerings for our feedback. Our general view is that all PMS offerings are guilty unless proved innocent. This is because it’s difficult to decipher their investment strategy and compare their performance against the right benchmark. If PMS providers can disclose the historical net asset […]

Income tax return (ITR) filing for the financial year 2023-24 (current assessment year) was opened in the first week of April. This is unlike past years when the tax filing utilities would typically be enabled by May.  The Central Board of Direct Taxes in a press release said this is for the first time in recent […]

Vishal Khandelwal, founder of ‘Safal Niveshak’—a popular blog on investing that is now into its fourteenth year—is one such investor. Khandelwal says Munger’s words struck a chord with him and he has since made it his life motto—to try and be useful, through his own writing and everything else that he does. “While I have […]

“Even compared to gold, silver is beginning to look good. Unlike gold, silver also has some linkage to industrial demand. The US leading indicator on industrial production is also looking good. So, all this put together bodes well for silver,” she says. Barring some legacy stock holdings, about 90% of Mehra’s investments are channeled through […]

In a world of neat labels and professions, it is difficult to assign one to Nikhil Kamath. He is the co-founder of India’s largest brokerage, Zerodha. But he is also a hedge fund founder (True Beacon), a prop tech and private equity investor (Gruhas) and a podcaster and influencer (WTF). “I enjoy doing your job […]

Retail investors predominantly invest in equity mutual fundsand, as per data put out by the Association of Mutual Funds in India in December, over 95% of the assets under management (AUM) in debt mutual funds (MFs) comes from corporate entities, while over 90% of equity AUM comes from retail and HNI (high net worth individuals) […]

Such is the sorry state of affairs in India’s glowing real estate sector. For most people, buying a house is both a financial and life goal. But risks abound, especially if you are investing in a new housing project. Most well-laid plans go awry when the builder delays handover of your dream house or fails […]

According to Thakkar, the inability of the fund to add international exposure due to the overseas investment limits was a big disappointment last year. It was a big miss since certain stocks had corrected to attractive valuations. In an interaction with Mint for the Guru Portfolio series, Thakkar shared what worked and what didn’t for […]

Is it possible to get good returns from a market that is at an all-time high? I am often asked this question and my reply is always in the affirmative. There are money-making opportunities even when the Nifty is at 22,000 and the Sensex at 74,000. But, you have to be selective and very patient. […]

The increase in women borrowers with active loans outpaced that of men in 2023. Their number rose 17.8% last year, compared to 13.1% for male borrowers, according to data released by CRIF High Mark, a credit bureau. Moreover, the average loan size of women borrowers increased across major retail loan products.

An Nvidia employee posted this note on Team Blind, a platform that lets verified employees discuss issues anonymously. To be sure, Nvidia—a chip manufacturer that has been in the news recently after its market capitalization surged to over $2 trillion, thereby becoming the third most valuable US-listed firm behind Microsoft and Apple—does not fly its […]

Mutual funds (MFs) or Portfolio Management Services (PMS)? It is a perpetual dilemma for investors keen on high equity exposure. If you dive deep, there are data points in favour of both the options and at times, the clutter of information may confuse you further. However, to make an informed choice, looking at key metrics […]

There are certain investors who believe in the great India growth story, but are wary of taking incremental exposure. This is not about aversion to equity or timing the market. There is a certain exposure to equity investments, say 50% or 70% of the portfolio, depending on risk appetite. For fresh cash flows, there may […]

After four-five years of staying away from it, Parekh has invested in DSP Strategic Bond Fund, an actively-managed duration fund. The fund is currently invested in debt papers that are of eight-nine years duration, says Parekh in an interaction with Mint for the Guru Portfolio series. In this series, leaders in the financial services industry […]

However, complete and effective financial inclusion encompasses far more layers than just owning a bank account. It implies, inter-alia access to a comprehensive set of financial services that include savings, credit, insurance, and payments – tailored to meet the diverse needs of individuals, particularly the marginalized and underserved sections of society. India’s journey towards financial […]

There are two different ways to insure oneself against CIs—a rider offered by life insurance companies along with the main policy or even a stand-alone policy or rider offered by health insurance companies. Yet, many people buy such riders or policies without understanding their nuances. Take for example the survival period clause. Having a policy […]

I have been deeply inspired by investment guru Charlie Munger’s “How to Guarantee a Life of Misery” speech to the students at Harvard in 1986. So, in keeping with the spirit of “inverting”, here’s my list of the fastest ways to blow up a family fortune. First on my list is to go ahead and […]

When we think of pocket money, it often takes us back to our childhood days when our parents would give us a few “bucks” for little treats or personal expenses. But what if pocket money isn’t just for kids? In fact, it can be a great concept when it comes to planning for retirement. You […]

View Full Image Graphic: Paras Jain The index—Nifty Smallcap 250 Momentum Quality 100—has been created by National Stock Exchange (NSE) based on discussions with Mirae Asset MF. Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF—an exchange traded fund, or ETF—will aim to mimic the performance of the index, which will be reviewed and re-balanced […]

The medieval concept of moat is relevant in today’s world, for identifying businesses that have a significant competitive advantage. In medieval ages, some castles or forts would dig a trench around, and fill it with water. It would provide the competitive advantage as the moat makes it that much difficult for invaders. The analogy is, […]

The National Pension System (NPS) is one of the most cost-efficient retirement planning products that comes with a prudent risk management framework and close regulatory oversight. The NPS ensures a comfortable retirement by combining market-linked returns with disciplined savings and power of compounding. With growing awareness, the NPS has attracted a lot of interest and […]

View Full Image The SBI fund will be benchmarked against the Nifty Energy Index, which has delivered 20% annualized returns over a five-year period (as of 31 January), as against 14.9% annualized returns delivered by Nifty 50 Index in the same period. How it works The fund will invest in a mix of traditional and […]

Three years since the Reserve Bank of India (RBI) launched the AA framework— a financial data-sharing system aggregating a customer’s financial information in one place, more banks are offering this facility to customers. It is not only helping individuals to view all their savings in one place and track their spending habits, but it is […]

Niranjan Vemulkar, co-founder and chief executive officer of Yellow, a digital will-making platform, shares an example. “We know of a case where the breadwinner went into a coma. His assets were frozen and a good amount of money was needed to pay the hospital bill. The family had to move court to release some of […]

A reputed residential real estate developer, say DLF, Godrej, Tata, Prestige, Purvankara or Shriram, can easily command a 20-30% premium for their branded apartments, as compared to a local developer, say real estate experts. View Full Image Graphic: Paras Jain For instance, M3M the Cullinan located at Noida Expressway in the National Capital Region charges […]

Quant MF also has a smaller exposure to other Ambani companies like Just Dial, Network 18 and TV 18. All this collectively takes its exposure to the group to about 16%. View Full Image Graphic: Paras Jain In 2022, Quant MF built a similar concentrated exposure to the Adani Group but pared it down after […]

If you’re an individual taxpayer or Hindu Undivided Family (HUF) with agricultural income, the interim budget has clarified the treatment of agricultural income while computing taxes under the new tax regime. The method used to compute tax on income of taxpayers with agri income has been included in Finance Bill 2024. “The budget 2024 proposes […]

prefer to have in their portfolios. Realty prices, albeit for residential real estate, are soaring across the country after the lull witnessed during the pandemic. The commercial real estate market is set to follow suit. And, Nuvama Asset Management, an arm of Nuvama Wealth Management (the company that was spun off from Edelweiss Financial Services […]

The chaos that Gurunandan witnessed that day was, however, not restricted to Udaipur airport alone. Such chaotic scenes were witnessed at Delhi and some other airports in north India. Several flights were delayed or cancelled due to extreme fog conditions not just that day but also on several other days in January. View Full Image […]

View Full Image Graphic: Paras Jain Here, we look at three such funds; their recent and historical performance and what investors can expect from them. ABSL Frontline Fund It is a large-cap fund with assets under management (AUM) of close to ₹26,000 crore as of 24 January, as well as one of the oldest MFs; […]

The conventional approach to index construction for a portfolio relies on market capitalization for weightage of stocks. However, the emergence of ‘smart beta’ strategies that seek to passively follow the indices have introduced a subset of strategies. These include equal weight investing, which assigns equal weights to all components in an index. View Full Image […]

Till now, NRIs needed to open FDs in India via their foreign currency non-resident (FCNR) accounts. These so-called FCNR deposits are denominated in a foreign currency and have a tenure of up to 5 years. Such deposits, however, had a minimum tenor of one year. And therein lies the advantage with the GIFT City schemes. […]

At such high fees, what makes these cards attractive? Do the rewards exceed the fee? This story breaks down ultra premium credit cards for you to decade whether you need this plastic in your kitty. What’s on offer View Full Image (Graphic: Mint) Kashif Ansari, assistant professor at O.P. Jindal Global University, defines credit cards […]

India’s life insurance industry has come together to bridge the high protection gap—the difference between available insurance cover and actual needs in case of a policyholder ‘s death— by organizing awareness campaigns and offering more flexibility to customers in terms of coverage and mode of payment. In an interview with Mint, Mahesh Balasubramanian, managing director, […]

It is an unprecedented move that is likely to open the flood gates for infusion of fresh funds by foreigners into India’s stock market. One of India’s leading asset management companies (AMCs)—HDFC AMC has secured approval to start six feeder funds in GIFT City (IFSC) that will in turn invest in its domestic mutual fund […]

In an interview with Mint, Andrade, shares his perspective on the firm’s upcoming new fund offer (NFO)—the Old Bridge Focused Equity Fund—and provides valuable insights into his investment approach and strategy. With 27 years of experience in Indian capital markets, including a decade as chief information officer (CIO) at IDFC Asset Management, he now serves […]

While beach holidays have always been popular among Indian travellers, Lakshadweep has never really been in their itinerary thus far. That distinction would go to Goa, which has been the most sought-after domestic beach destination. For many though, Thailand and Vietnam are becoming a preferred alternative. The main reason is that these places offer better […]

“Pure term plans exist but we cannot ignore customers asking for the survival benefit. High sum-assured Ulips offer this in the best way possible,” says Piyush Trivedi, joint president and head, Alternate Channel & Digital Channel, Kotak Mahindra Life Insurance Co. The sum assured (SA) multiple in TULIPs could be 100-200 times of the annual […]

Indian start-ups had a relatively tougher time in the past year, yet over 950 tech start-ups saw the light of the day, taking the total tally to a whopping 31,000 in the past 10 years.  Since 2019, tech start-ups in India have managed to raise $70 billion in funding, revealed Zinnov-Nasscom 2023 report on tech start-ups landscape. The […]

Bengaluru undoubtedly boasts all the characteristics of a modern global metropolis – a booming IT and startup hub, cosmopolitan culture, and premium infrastructure. However, the city strangely does not cut a metro for house rent allowance tax exemptions under income tax laws. “While Bangalore undeniably shares attributes of other metros like high population density, significant […]

Dividends from central public sector enterprises (CPSEs) are likely to cross ₹50,000 crore during the current fiscal for the third year in a row. It has already exceeded the Budget Estimate (BE) during the current fiscal year, reported Business Line.  However, disinvestment proceeds from CPSEs are likely to remain below the Budget Estimate. Collections from dividend and disinvestment […]

This story, first in a Mint series, dissects health insurance plans based on the ratings decided by Mint-Beshak.org. It aims to help consumers understand the salient features of each product that has made its way to the list, starting with Health AdvantEdge. Launched in August 2022, Apex Plus Plan is the latest version of Health […]

PayNearby and Star Health and Allied Insurance have recently formed a strategic collaboration aimed at enhancing the accessibility and affordability of health insurance coverage throughout the country, with a particular focus on the semi-urban and rural population.  This partnership is poised to play a pivotal role in providing insurance to millions of currently uninsured individuals […]

This famous anecdote spotlights the importance of reverse mortgage for pensioners. A reverse mortgage is a special type of loan that allows senior citizens to mortgage their homes without having to make any loan repayments and thus helps them tide over financial difficulties. In India, a senior citizen can ink a similar deal with banks, […]

AU Small Finance Bank has officially unveiled its collaboration with Mastercard, heralding the introduction of the Mastercard Debit Card. This innovative offering is tailor-made for the bank’s Corporate Salary customers and is rolled out with the overarching theme of #Swipe&Save. The recently launched Mastercard Debit Card caters to the lifestyle requirements of the contemporary Corporate […]

Do you expect the market rally to continue into the new year? Normally, going into the new year, I feel the market returns will be in the mid-teen range because that has been our history. Across any periods of 5-6 years, the annualized returns of Indian markets have been in the mid-teens. Also, from the […]

Tata Mutual Fund announced the launch of the Tata Silver Exchange Traded Fund. The scheme opened for public subscription on January 02, 2024, and will close on January 09, 2024. The scheme re-opens for continuous sale and repurchase from January 17, 2024. Also Read: Tata Mutual Fund launches the Tata Silver ETF Fund of Fund […]

India presents an attractive opportunity for investors seeking high growth potential in a volatile global environment. Yet, people need to carefully consider the following factors before making investment decisions. Growth and potential: India’s economic growth story is compelling. Its GDP has grown at a steady more than 7% in US dollar terms, outpacing most countries. […]

Charlie Munger would have turned 100 years old today. Although he came close to reaching this century, it remained just out of reach, as he departed from us on November 28, 2023. The renowned investor left behind an extensive legacy detailing the essential factors behind his success, presented in his distinctive style characterised by straightforwardness […]

They say that the change is the only constant. The New Year 2024 will certainly be different from 2023, yet similar in the way that this, too, will usher in a slew of changes with it.  Come New Year, small savings schemes will offer higher interest rates, insurance policy documents will be easier to understand, […]

Rupay has launched an exclusive New Year Cashback offer which is applicable from December 30, 2023, to January 1, 2024. The offer which is applicable on RuPay Credit Card UPI transactions is compatible with all UPI applications and is for a limited period.  How to avail New Year Cashback offer?  Customers must have their RuPay […]

If you have a UPI (Unified Payments Interface) account with any of the popular apps such as Google Pay, Phone Pay or Paytm, and have not been able to use it for a year or longer for any reason whatsoever, then it is set to get deactivated from Jan 1 onwards. This will be done as […]

There’s a reason why Mint Money articles are shared widely and discussed thoroughly on social media. People are attached to their money, and they want to grow their wealth. Any article that supports their current investment or savings strategy is heralded; any advice that goes against their personal financial philosophy is cursed. However, building wealth […]

Financial panning decisions are not easy. With many goals and limited funds, it becomes difficult to decide which goal to invest for first, where to invest and how to allocate windfall gains or bonuses among financial goals. Not being able to prioritise goals correctly could mean losing focus on priorities. Most people have common goals […]

Free mutual fund platforms in India, such as Kuvera and MF Utilities, are gearing up for a change of avatar —They will soon be execution-only platforms, or EOPs. In the case of MF Utilities, the transition has already happened. Category 1 EOPs can receive a flat fee per transaction from asset management companies (AMCs), while […]

As the new year unfolds, our aspirations centre around witnessing the growth of our finances. There’s an unparalleled satisfaction in realizing your financial objectives, particularly after dedicated periods of investment. The ongoing fluctuations in the market have spurred numerous individuals to delve into the intricacies of personal finance. Simple calculations, such as formula 72, have […]

The unique combination of investment in mutual funds, debt market, and life insurance coverage has always attracted investors to different unit-linked insurance plans (ULIPs). These plans also help in investing for long-term goals like buying a house, retirement, or children’s higher education. Additionally, the waiver of premium (WOP) feature enables ULIPs to fulfil long-term investment […]

Are you looking to access additional funds by leveraging your home equity? Reverse Mortgage and Loan Against Property (LAP) are two standard options to harness your home and get additional cash. However, these are two different options, so it is essential to understand the features and differences between these two financial products to help you […]

It seems the era of fixed deposit (FD) rate hikes is not over yet. Even as the Reserve Bank of India (RBI) maintains the key repo rate at 6.5 per cent for the fifth consecutive time in the December 8 MPC meeting, several banks have hiked the interest rates on fixed deposits this month, December […]

I will retire in January 2024. Is it mandatory to withdraw Provident Fund (PF) corpus immediately after retirement or can I stay invested for two or three more years? If I’m allowed this, will I able to withdraw after three years, in say 2027, and will the corpus then become taxable? Also, what is the […]

The Central Board of Direct Taxes (CBDT) on Saturday notified Income Tax Return forms 1 and 4. In a post on X platform (formerly Twitter), the Income Tax (I-T) department announced that the Board has notified ITR forms 1 and 4. The post also highlights that the other ITR forms will be released in the […]

Axis Mutual Fund has revealed the successful accumulation of more than ₹3,400 crores in the Axis India Manufacturing Fund. This thematic fund was introduced to deliver long-term capital appreciation through investments in equity and equity-related securities of companies aligned with the manufacturing theme. From December 01 to December 15, 2023, this new fund offer (NFO) […]

There are more than 19 million crypto investors in India, out of which, 9 percent belong to the fairer sex. The year 2023 was reasonably positive for the overall industry with Bitcoin reporting a massive spike of more than 160 percent. Other tokens such as Ethereum, Solana, Dogecoin and Cardano also were in the green, […]

Subscription for the third tranche of Sovereign Gold Bond scheme’s (SGB 2023-24 Series III) will end today evening. The third tranche opened for subscription on December 18. The Reserve Bank of India (RBI) has fixed the issue price for the latest lot of gold bonds at ₹6,199 per gram.  The Sovereign Gold Bond scheme presents […]

Contributions to the National Pension System (NPS) by investors can be made through a Quick Response (QR) code based on D-remit, as reported by Business Today. Subscribers can utilise any UPI-enabled app to contribute by scanning their QR codes. These personalised QR codes, specific to tier I and II accounts, can be saved offline for convenient […]

Nine personal finance rules that everyone should follow right from today to take control of their money and become rich. The ‘Rule of 72’ gives you an estimate of the number of years it will take to double your money in a particular investment tool. You need to divide the rate of returns by 72 […]

By no means, it was an aberration. Interestingly, in each of the past five months starting July 2023, the previous record of SIP inflows in mutual funds was broken in the following month. Overall, SIP inflows in mutual funds reached ₹1,66,131 crore in the first 11 months of 2023 ending Nov 30, thus reporting an […]

Investing in the right fund or product by itself doesn’t assure wealth creation. Smart investors rely on process and discipline. This process is reviewed and repeated for multiple years. The choices we make daily may not matter today, but they do so in the long term. If we give a blank slate to different investors […]

Throughout periods of economic turbulence, gold has consistently demonstrated its value as a significant investment, owing to its extensive historical track record. During market fluctuations and economic uncertainty, investors commonly gravitate towards safe-haven assets such as gold, anticipating the preservation or potential appreciation of value. This heightened demand results in price increases. The ongoing rise […]

Buying your own abode is a goal most of us aim to accomplish. Staying in a rented house can never give you the sense of pleasure that your own property can. But before you set out to buy a property, there are certain things to be careful about. What if you have the resources to […]

Before embarking on your investment journey, aiming to strike the right balance between risk and returns is nothing short of imperative. Higher the risk an investment carries, higher the reward. Vice versa is also true.  In other words, mutual funds which carry lower risk for investors give predictably lower returns. Most of these mutual funds […]