I am Wealthy at 23

Mutual fund return calculator: Assuming return on the investment 8 per cent per annum and 6.5 per cent annual rate of inflation, around ₹8.82 crore would be required to get a monthly pension of inflation adjusted ₹3 lakh per month, say tax and investment experts from mint - Money https://ift.tt/3FMuONx https://ift.tt/eA8V8J

Gold price today: Commodity market experts have advised investors to maintain 'buy on dips' as sport gold price may go up to $1880 to $1900 per ounce levels in next 3 months from mint - Money https://ift.tt/3sKjtd6 https://ift.tt/eA8V8J

By 3pm on Friday, 56.2 million returns were filed. Today, people have filed more than 2 million returns, which is the highest. In the last one hour, 344,000 returns have been filed, said revenue secretary Tarun Bajaj from mint - Money https://ift.tt/3t2qYfN https://ift.tt/eA8V8J

Post office savings accounts will continue to fetch an interest rate of 4% while the post office monthly income scheme (POMIS) will earn the same interest rate, that is, 6.6%. from mint - Money https://ift.tt/3HmYzos https://ift.tt/eA8V8J

Public Provident Fund (PPF) and National Savings Certificate (NSC) will continue to carry an annual interest rate of 7.1% and 6.8%, respectively from mint - Money https://ift.tt/3eEscoX https://ift.tt/eA8V8J

The ITR is not considered as valid unless and until it has been verified.One of the easist way to e-verify ITR is by doing it by using Aadhaar OTP from mint - Money https://ift.tt/3JteWBH https://ift.tt/eA8V8J

ATM withdrawal charges: As per the RBI notification dated 10th June 2021, from 1st January 2022, banks have been permitted to charge ₹21 instead of ₹20 on each transaction after the monthly free ATM withdrawal limit from mint - Money https://ift.tt/3zknaHF https://ift.tt/eA8V8J

You can invest in a mutual fund scheme which invests in all of these asset classes directly or second, invest in a fund of fund which invest in schemes available across these asset classes from mint - Money https://ift.tt/32Lzftd https://ift.tt/eA8V8J

ITR last date: In case of missing the ITR due date of 31st December 2021, a taxpayer will have to pay a flat late fine of ₹5000, in case its taxable income is more than ₹5 lakh from mint - Money https://ift.tt/3EBd1r6 https://ift.tt/eA8V8J

According to EPFO, one should file e-Nomination because it helps in getting Provident Fund (PF), Pension (EPS) and Insurance (EDLI) benefits easily member's death and also facilitate nominee to file online claims. from mint - Money https://ift.tt/3qxo5Re https://ift.tt/eA8V8J

CBDT has allowed one time relaxation to ITRs pending for e-verification and given an extension to verify until 28 February 2022 from mint - Money https://ift.tt/3qzFYyL https://ift.tt/eA8V8J

Among debt instruments in India, there are various types of bonds available, with different features-duration, tax benefits, coupon rates and lock-ins from mint - Money https://ift.tt/3HgTpdB https://ift.tt/eA8V8J

The Limitation Act, 1963, provides for provisions in relation to the setting aside a transfer of property made by a guardian of a ward, when the ward has attained majority within three years from the date of attaining majority from mint - Money https://ift.tt/32HtTiu https://ift.tt/eA8V8J

We are targeting to go live by the second quarter of next year. It will help millions of Indians to receive money from overseas, Ritesh Shukla, CEO, NIPL from mint - Money https://ift.tt/3FD2Xz4 https://ift.tt/eA8V8J

As of 27 December, only 46.7 million ITRs for the current assessment year have been filed from mint - Money https://ift.tt/3sDWhx3 https://ift.tt/eA8V8J

Some leading brokerage firms like Axis Securities, Zerodha and IIFL Securities are partnering with new-age online tax filing portals from mint - Money https://ift.tt/3pzeQAH https://ift.tt/eA8V8J

The FM had announced that gains up to 31 January 2018 would be grandfathered from mint - Money https://ift.tt/3FHWbbC https://ift.tt/eA8V8J

With an aim to make healthcare more accessible and affordable, SaveIN has tied up with over 100 healthcare providers in Delhi, Gurgaon and Noida from mint - Money https://ift.tt/3FCw9WS https://ift.tt/eA8V8J

It’s that time of the year again—to set up your new planner for the upcoming year. Mint lists three key personal finance changes that will come into effect from 2022 from mint - Money https://ift.tt/3mxGnjW https://ift.tt/eA8V8J

A diversified portfolio of stocks, bonds, and physical assets is key to steering through every market condition. Such a portfolio may not deliver the highest return in any given year but will perform competitively across market cycles from mint - Money https://ift.tt/3z2QX7E https://ift.tt/eA8V8J

The couple enlisted the help of a financial adviser to bounce back from mint - Money https://ift.tt/3qqnaBP https://ift.tt/eA8V8J

After two years in which many have been under pandemic stress and strain, consider making your money goals focus on happiness from mint - Money https://ift.tt/3pvI1EP https://ift.tt/eA8V8J

Experts say it is always good to think about the purpose of the money in one's life, changes on the work front and desired changes to one's personal situation. from mint - Money https://ift.tt/3publve https://ift.tt/eA8V8J

There is a difference between a regular plan and a direct plan, the investment routed through some broker/advisors is termed as regular plan whereas the investment done directly with AMC (without any broker/advisor) is called a direct plan from mint - Money https://ift.tt/3erwuQl https://ift.tt/eA8V8J

Here’s a look at the lowest home loan interest rates of some leading banks from mint - Money https://ift.tt/3FwTSIf https://ift.tt/eA8V8J

HSBC intends to merge the operations of L&T MF with its existing business in India from mint - Money https://ift.tt/3H7Stbk https://ift.tt/eA8V8J

In a bid to promote voluntary compliance and deter non-compliance, the income tax department has now made available an Annual Information Statement or AIS for individual taxpayers from mint - Money https://ift.tt/3HexvYw https://ift.tt/eA8V8J

For your goal of ₹2.8 crore after 20 years, you need to do monthly SIPs of ₹39,000 or ₹31,000 if we assume an annual return of 10% and 12% respectively. from mint - Money https://ift.tt/32oslKF https://ift.tt/eA8V8J

People are generally under the impression that the due date is also the last date beyond which you can not submit your ITR, which is not correct from mint - Money https://ift.tt/32BDUO9 https://ift.tt/eA8V8J

Mutual fund calculator: As per 15 X 15 X 15 rule of mutual funds, an investor can expect to get around 15 per cent return on one's SIP money from mint - Money https://ift.tt/3Exe638 https://ift.tt/eA8V8J

EPF account holders can transfer their PF online by logging in at EPFO member portal from mint - Money https://ift.tt/3yZXnnP https://ift.tt/eA8V8J

ITR filing: Annual Information Statement (AIS) is nothing but a statement of financial transactions furnished to it by various entities in respect a taxpayer collated by the tax department based on the PAN from mint - Money https://ift.tt/3z0YCmP https://ift.tt/eA8V8J

CSC expects 25 lakh people to file income tax returns for the financial year 2020-21 through more than 75,000 of its centres across the country. from mint - Money https://ift.tt/3Jg19hQ https://ift.tt/eA8V8J

Income tax department has created an Annual Information Return (AIR) statement of financial transactions to trace high-value cash transactions of taxpayers from mint - Money https://ift.tt/3H7IeDW https://ift.tt/eA8V8J

Mutual fund calculator: In 15 X 15 X 15 rule of mutual funds, one can expect to get 15 per cent mutual fund return after investing for 15 years, say tax and investment experts from mint - Money https://ift.tt/3yVoZKS https://ift.tt/eA8V8J

Gold price today: MCX gold rate has dipped this week as Indian National Rupee (INR) gained against the US Dollar (USD) in the Forex Market, believe commodity market experts from mint - Money https://ift.tt/3qrlQhY https://ift.tt/eA8V8J

If an NRI sells a residential property after 24 months from the date of ownership, proceeds from the sale of such property will be considered as long-term capital gain from mint - Money https://ift.tt/3swZFJV https://ift.tt/eA8V8J

Choosing commercial, residential or passive property investments depends on your tolerance for risk…and for other people from mint - Money https://ift.tt/3JfTQa0 https://ift.tt/eA8V8J

BAFs have become the dominant hybrid mutual fund category with an AUM of ₹1.64 trillion from mint - Money https://ift.tt/3H5hO5R https://ift.tt/eA8V8J

Here is a list of banks that offer the highest FD rates for deposits up to Rs1 crore over various tenures from mint - Money https://ift.tt/3yVK1cc https://ift.tt/eA8V8J

Many people think that this is only for the working or younger lot. It’s interesting to know that this is all the more pertinent and all the more important for the retired segment of investors. from mint - Money https://ift.tt/3pl9VTO https://ift.tt/eA8V8J

You could start with scanning your income tax returns. It is likely that you would have claimed an income tax deduction for the premium paid towards your life insurance from mint - Money https://ift.tt/3szAnej https://ift.tt/eA8V8J

Subscribers to many of these IPOs are some large institutions, prompting questions if they are sticking to their professed style of value investment. from mint - Money https://ift.tt/3H9md7W https://ift.tt/eA8V8J

The RBI has ordered all companies in India to purge saved credit and debit card data from their systems from January 1, 2022 from mint - Money https://ift.tt/3Ems87J https://ift.tt/eA8V8J

You can opt for ITR-1 if you are an Indian resident individual taxpayer with a total income less than ₹50 lakh.Taxpayers have to choose among 7 ITR forms to file their income tax returns (ITR) basis the amount and nature of their income from mint - Money https://ift.tt/3yQrU7A https://ift.tt/eA8V8J

Understanding the features that home loans come with can get you the best financing deal from mint - Money https://ift.tt/3z4ZJ5f https://ift.tt/eA8V8J

Lower the grant price, greater is the chance of making a profit from Esops  from mint - Money https://ift.tt/3Jari1w https://ift.tt/eA8V8J

In terms of where to invest, an equity hybrid fund is a good place to start, especially since you are investing for five years from mint - Money https://ift.tt/3JfnAns https://ift.tt/eA8V8J

Given that different equity assets have different tax rules, an investor must take a careful look at the suitability of an investment in terms of taxes too from mint - Money https://ift.tt/3mls81K https://ift.tt/eA8V8J

Reporting the capital gains on mutual fund units or stocks can turn out to be a complex task for investors from mint - Money https://ift.tt/3JbhvYO https://ift.tt/eA8V8J

The markets have corrected 7% over the past 20-25 days as domestic and international factors saw investors re-evaluate portfolios from mint - Money https://ift.tt/3ed2EyT https://ift.tt/eA8V8J

In the absence of a Will, the devolution of assets is governed by the framework of intestate succession as per the Hindu Succession Act, 1956  from mint - Money https://ift.tt/3FkZBRl https://ift.tt/eA8V8J

Reporting the capital gains on mutual fund units or stocks can turn out to be a complex task for investors from mint - Money https://ift.tt/3JbhvYO https://ift.tt/eA8V8J

The markets have corrected 7% over the past 20-25 days as domestic and international factors saw investors re-evaluate portfolios from mint - Money https://ift.tt/3ed2EyT https://ift.tt/eA8V8J

The scheme will capture potential upside of equities while limiting downside by moving between equity & debt from mint - Money https://ift.tt/3mhLkNS https://ift.tt/eA8V8J

The average ticket size for personal loans reduced for the fourth consecutive year from Rs1.92 lakh in 2020 to Rs1.86 lakh this year, revealed the fourth edition of BankBazaar Moneymood 2022 from mint - Money https://ift.tt/3yIvalB https://ift.tt/eA8V8J

If your PIN has been revealed change it immediately.Lock your phone and your payment apps with strong passwords, PIN from mint - Money https://ift.tt/3q9iIHK https://ift.tt/eA8V8J

All taxpayers who are yet to file their Income Tax returns for AY 2021-22 are requested to file their returns at the earliestIncome tax dept urges taxpayers to file ITR before December 31 deadline from mint - Money https://ift.tt/3FgGpE4 https://ift.tt/eA8V8J

The income tax rebate available under Section 87A can be claimed against tax liability of any nature except for long term capital gains arising on equity shares sold on stock exchange and equity oriented mutual fund schemes from mint - Money https://ift.tt/3GUQjf6 https://ift.tt/eA8V8J

SBI has hiked the interest rate on fixed deposits of more than ₹2 crore, effective December 15, 2021 from mint - Money https://ift.tt/3pasxpi https://ift.tt/eA8V8J

If you already have an account with a bank, you would have come across many offers for a personal loan .While these are easy to get, and offer almost instant gratification, you must note that the interest rates are much higher than, say, for a car loan from mint - Money https://ift.tt/3q70arz https://ift.tt/eA8V8J

Tax exemption under Section 54 can be claimed only for one residential property from mint - Money https://ift.tt/3sjSqVN https://ift.tt/eA8V8J

As a resident and ordinary resident in India, you would be taxable in India on your global income, which would include the salary received by you in India from the UAE-based employer from mint - Money https://ift.tt/3E5WfA1 https://ift.tt/eA8V8J

Slump is unlikely to translate into a substantial fall in the overall travel budget to Turkey. This is especially true if you buy a holiday package from a travel agency. from mint - Money https://ift.tt/3E8IQan https://ift.tt/eA8V8J

SIPs outperform a lump sum investment in equities when there is long market downturn followed by a recovery from mint - Money https://ift.tt/30JpECE https://ift.tt/eA8V8J

Account-holders of this bank will have to pay more for depositing cash and making cash withdrawals if they exceed the prescribed limit. from mint - Money https://ift.tt/30GDsOj https://ift.tt/eA8V8J

New credit, debit card rule for online payments will kick in from 1 January 2022 from mint - Money https://ift.tt/3p6nNBe https://ift.tt/eA8V8J

Income tax return: In order to calculate the interest for the default in payment of advance tax liability, taxpayers are now required to give a quarter-wise breakup of dividend income received while filing ITR for AY 2021-22 from mint - Money https://ift.tt/33ARulv https://ift.tt/eA8V8J

Money received from overseas from your son towards repayment of education loan is not in the nature of income and this there is no reporting required in IT returns. from mint - Money https://ift.tt/3E1OhIk https://ift.tt/eA8V8J

Gold price may go up to ₹49,500 per 10 gm in next fortnight to one month time from current gold rate of ₹48,603 per 10 gm on MCX, believe commodity market experts from mint - Money https://ift.tt/3p5ZeUY https://ift.tt/eA8V8J

Portfolio management: If more than half your home loan tenure is over, you should choose mutual funds as majority of the home loan interest has been already paid, say tax and investment experts from mint - Money https://ift.tt/3yCIPuk https://ift.tt/eA8V8J

June-October 2021 saw an increase in the adoption of digital payments and wallets as more individuals opted for paying rent and education fees via credit from mint - Money https://ift.tt/329w9z8 https://ift.tt/eA8V8J

The Income Tax department said that the 3.11 crore returns have been e-verified, out of which more than 2.69 crore are through Aadhaar-based OTP.Infosys was, in 2019, awarded a contract to develop the next-generation income tax filing system to reduce processing time for returns from 63 days to one day from mint - Money https://ift.tt/3q6AoDw https://ift.tt/eA8V8J

Our compilation of property prices of prominent localities in major cities and surrounding areas across India may help you compare and make an informed decision. from mint - Money https://ift.tt/3GNYUA9 https://ift.tt/eA8V8J

Financial independence is a life of no debt and the ability to spend on anything you want. from mint - Money https://ift.tt/33A4NTo https://ift.tt/eA8V8J

While many fall victim to online financial fraud, it becomes vital to understand the potential online risks associated with online banking transactions. from mint - Money https://ift.tt/3GUt70J https://ift.tt/eA8V8J

Understanding of reducing the interest payment by using the fixed deposit loan to repay the gold loan is correct from the calculation perspective from mint - Money https://ift.tt/3dXhXvz https://ift.tt/eA8V8J

Capital gains are reported under schedule CG (capital gains) in ITR-2 or ITR-3. .Capital gains are calculated by deducting the sale value of the asset with its purchase price. from mint - Money https://ift.tt/3dZN8qe https://ift.tt/eA8V8J

Earlier, in September, SBI lowered the base rate by 5 basis points, to 7.45 per cent from mint - Money https://ift.tt/3m5noNh https://ift.tt/eA8V8J

Gold price today: Rise in yellow metal rate was expected as Fed's bond tapering announcement on yesterday night was much on the expected line, believe commodity market experts from mint - Money https://ift.tt/3dY22Nr https://ift.tt/eA8V8J

The quantum of finances that students can borrow exceeds the amount they or their parents could have saved from mint - Money https://ift.tt/3s5kyvP https://ift.tt/eA8V8J

Motilal Oswal’s report on wealth creation highlights key success factors for startups from mint - Money https://ift.tt/3oYj6JK https://ift.tt/eA8V8J

If we plan to do the personal loan repayment, there will be a prepayment charge of 4-5% of the outstanding balance from mint - Money https://ift.tt/3m2SIfR https://ift.tt/eA8V8J

William Sharpe calls retirement planning the hardest problem in finance from mint - Money https://ift.tt/3yxYjQq https://ift.tt/eA8V8J

Due to the sale of his mother’s property, it is unlikely that you would be entitled to any share of his mother’s estate from mint - Money https://ift.tt/3oSulDb https://ift.tt/eA8V8J

After claiming tax exemptions and deductions, incomes under IFOS head are added to the total income of the taxpayer and taxed as per slab rates. from mint - Money https://ift.tt/3m5fh3j https://ift.tt/eA8V8J

Here is a look at the taxes that apply to short-term and long-term gains from these two asset classes from mint - Money https://ift.tt/3yn33bq https://ift.tt/eA8V8J

After claiming tax exemptions and deductions, incomes under IFOS head are added to the total income of the taxpayer and taxed as per slab rates. from mint - Money https://ift.tt/3m5fh3j https://ift.tt/eA8V8J

Due to the sale of his mother’s property, it is unlikely that you would be entitled to any share of his mother’s estate from mint - Money https://ift.tt/3oSulDb https://ift.tt/eA8V8J

The ITR earmarks a separate section ‘Schedule FA’ to capture details of possible variants of foreign assets, foreign interests and corresponding income derived therefrom by a resident taxpayer from mint - Money https://ift.tt/321m9HU https://ift.tt/eA8V8J

A sufficient amount of funds should be kept aside, depending on the financial capacity of individuals and their family requirements.You may need an emergency fund because your income may reduce overtime due to uncertainties from mint - Money https://ift.tt/31LS7Zb https://ift.tt/eA8V8J

Economics provides us with a way of thinking and coming to a decision from mint - Money https://ift.tt/3IOhwBM https://ift.tt/eA8V8J

Assuming you qualify as a ‘resident and ordinarily resident’ of India and ‘non-resident’ of the US, you would qualify as ‘resident’ of India under the double taxation avoidance agreement (DTAA) between India and the US from mint - Money https://ift.tt/3pQe1lL https://ift.tt/eA8V8J

Building a portfolio is a complex exercise, and it has to be maintained too from mint - Money https://ift.tt/31MiCO8 https://ift.tt/eA8V8J

A sufficient amount of funds should be kept aside, depending on the financial capacity of individuals and their family requirements.You may need an emergency fund because your income may reduce overtime due to uncertainties from mint - Money https://ift.tt/31LS7Zb https://ift.tt/eA8V8J

Where TDS is applicable, amount so deducted loses benefit of compounding for the remaining investment tenure from mint - Money https://ift.tt/3oQMfWZ https://ift.tt/eA8V8J

Joint home loan: The bank will register one ECS for a joint home loan even if there are more than one joint borrowers of the home loan from mint - Money https://ift.tt/3oODXil https://ift.tt/eA8V8J

Calculation errors or slip-ups in accurately reporting incomes can get you a notice from the taxman from mint - Money https://ift.tt/3rXVfeZ https://ift.tt/eA8V8J

Annual Information System aims to provide a comprehensive profile from mint - Money https://ift.tt/31OkeXv https://ift.tt/eA8V8J

Car loans are usually of three to five years but some lenders may offer loans for up to seven years too from mint - Money https://ift.tt/3IUuSgf https://ift.tt/eA8V8J

Childbirth complications are becoming common nowadays, which can significantly drain your savings from mint - Money https://ift.tt/3rXPgH3 https://ift.tt/eA8V8J

From a tax perspective, as per Section 10(12) read with Rule 8 of Part A of Fourth Schedule of the Income Tax Act, 1961, the accumulated PF balance due and payable to the employee i.e. balance to his credit on the date of cessation of his employment, is exempt from tax if he has rendered continuous service for a period of five years or more from mint - Money https://ift.tt/3dLv1nC https://ift.tt/eA8V8J

In my view taking a home loan of ₹90 Lakhs may work better in present conditions if your finance permits you to take a higher EMI. In both scenarios, your existing rent will no longer exist and will help you in reducing the EMI burden anyways from mint - Money https://ift.tt/33dbkTE https://ift.tt/eA8V8J

Gold investors should maintain 'buy on dips' strategy till gold price is above $1760 per ounce in spot market and above ₹46,800 per 10 gm on MCX, believe commodity market experts from mint - Money https://ift.tt/3GCfcMA https://ift.tt/eA8V8J

Some would be disappointed as the central bank maintained the status quo regarding interest rates, holding them at 4 per cent for over a year now from mint - Money https://ift.tt/3EMKBLP https://ift.tt/eA8V8J

PPF account rules: Currently, PPF interest rate is 7.10 per cent. PPF interest is calculated on monthly-basis but compounded annually from mint - Money https://ift.tt/3lXvFmF https://ift.tt/eA8V8J

Mutual fund calculator: Saving ₹1,000 for slightly above 34 years would enable an investor to accumulate ₹1 crore at the time of maturity, say tax and investment experts from mint - Money https://ift.tt/3EKsbv5 https://ift.tt/eA8V8J

Salary become taxable on earlier of accrual or receipt. So advance salary become taxable even not become due and vice versa means salary which has become due but not received yet also become taxable though not received. from mint - Money https://ift.tt/3ydzQ2y https://ift.tt/eA8V8J

In case of purchase of property from a non-resident, you have to deduct tax on the income component of the sale consideration at 20% if the gains are long term in the hands of the non-resident else 30% tax has to be deducted. from mint - Money https://ift.tt/3yc1ygb https://ift.tt/eA8V8J

MPC remarked that rising input costs are a risk for the core inflation trajectory from mint - Money https://ift.tt/3GoFHoy https://ift.tt/eA8V8J

The deadline for filing income tax returns for the assessment year 2021-22 is 31 December from mint - Money https://ift.tt/3IxExc3 https://ift.tt/eA8V8J

Investment planning is first about arithmetic and then about asset allocation and portfolio design from mint - Money https://ift.tt/3pB8C21 https://ift.tt/eA8V8J

The deadline for filing income tax returns for the assessment year 2021-22 is 31 December from mint - Money https://ift.tt/3IxExc3 https://ift.tt/eA8V8J

MPC remarked that rising input costs are a risk for the core inflation trajectory from mint - Money https://ift.tt/3GoFHoy https://ift.tt/eA8V8J

The NCD issue will remain open for subscription till on 28 December with an option of early closure or extension from mint - Money https://ift.tt/3DzJU74 https://ift.tt/eA8V8J

Understanding the concept of  yield to maturity from mint - Money https://ift.tt/3y1ebdX https://ift.tt/eA8V8J

Understanding the concept of  yield to maturity from mint - Money https://ift.tt/3y1ebdX https://ift.tt/eA8V8J

Since silver is bulky in nature and difficult to store, the ETF model is one of the preferred ways for investors from mint - Money https://ift.tt/3GleEKO https://ift.tt/eA8V8J