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Showing posts from July, 2023

Explained: Income tax implication of the sale of a flat within three years funded by a home loan

Tax implications for selling a flat-funded by a home loan: Principal repayment claimed under Section 80C becomes taxable, but no tax on capital gains if proceeds used to buy a new house within 3 years from mint - money https://ift.tt/CAUfwjK https://ift.tt/A85Onfe

Can a co-owner also claim house insurance?

An important insurance principle is that only those that have an insurable interest in the property can be paid an insurance claim. from mint - money https://ift.tt/DlFe2ha https://ift.tt/A85Onfe

Why materiality in listing norms requires clarity

Transparency, accountability, and fairness in decision-making are the basic tenets of good governance from mint - money https://ift.tt/WCY9Hi1 https://ift.tt/A85Onfe

Why investors should forget about delayed gratification

Distant profits are worth less and less these days from mint - money https://ift.tt/y51aA2g https://ift.tt/tcD1BOG

How you should use AIS to file tax returns

Form 26AS is an annual tax statement which primarily provides details of TDS, and tax collected at source (TCS), along with the corresponding income against which such deduction has been done. from mint - money https://ift.tt/YpyUITq https://ift.tt/tcD1BOG

How NRIs are taxed on pension they get from overseas

Pension income from a foreign country’s social security authorities is taxable as other sources of income, whereas pension from employer-funded plans outside India is taxable as salary income. Both are taxable at applicable slab rates. from mint - money https://ift.tt/E2B5yi3 https://ift.tt/tcD1BOG

How long does it take for doctors to recover the cost of medical studies?

Their earnings depend on factors such as specialization during postgraduation and hospitals where they work. from mint - money https://ift.tt/D3EUwcA https://ift.tt/tcD1BOG

Over 6 crore ITRs filed till 6.30 pm today: Income tax department

The number of ITRs filed has exceeded the number of returns filed last year till July 31 from mint - money https://ift.tt/5vRnHOy https://ift.tt/tcD1BOG

5.83 crore ITRs filed till 1 pm today: Income tax department

According to the tax department, over 46 lakh successful logins on the e-filing portal were seen till 1 pm on Sunday from mint - money https://ift.tt/EHLvYhM https://ift.tt/tcD1BOG

Mutual fund: ₹10,000 monthly SIP grows to ₹2.94 crore in 25 years

Mutual Fund SIP calculator shows a regular monthly SIP of ₹10,000 in Quant small-cap funds in 25 years could have given crores of rupees to the investors from mint - money https://ift.tt/wtJxSH2 https://ift.tt/KieITwb

ITR filing last date 2023: Don't miss this final step after filing your income tax return. What tax department says

ITR filing last date is July 31, 2023. Over 5 crore tax returns have been filed so far, with 88% e-verified. from mint - money https://ift.tt/t1bfYEJ https://ift.tt/KieITwb

How to become rich: Top investing tips for millennials and Genz to make money

Amidst rising inflation and uncertainty, Millennials, and GenZ are experimenting with investments. Budgeting and starting early are key from mint - money https://ift.tt/oKjtJna https://ift.tt/KieITwb

ITR filing due date: Why income taxpayers are expecting deadline extension

ITR filing due date: Just 2 days left until the July 31 deadline for filing income tax returns for FY 2023, with no extension expected from mint - money https://ift.tt/bXqn1gd https://ift.tt/KieITwb

Income tax on gold: SGB vs gold ETF vs physical gold. Know taxation rules here

Income tax on gold: Investing in gold provides diversification and stability to portfolios. Different investment methods and tax implications are discussed from mint - money https://ift.tt/dE5lWDG https://ift.tt/KieITwb

ITR filing 2023: Over five crore income tax returns filed so far, says income tax department

'Out of the 5.03 crore ITRs filed till 27th July, 2023, about 4.46 crore ITRs have been e-verified i.e. more than 88% ITRs filed have been e-verified!,' the I-T department tweeted. from mint - money https://ift.tt/gqkm6Eb https://ift.tt/19aA0EG

ITR filing: How income tax outgo becomes half for consultants

ITR filing: Professionals in specified fields can declare 50% of gross earnings as taxable income. They can claim expenses over 50% if they can substantiate them. The deadline for filing tax returns is July 31 from mint - money https://ift.tt/L0oNe5F https://ift.tt/19aA0EG

Why activist investors are going to have a busy year

If you think they have gone soft, think again from mint - money https://ift.tt/78Qtx5c https://ift.tt/19aA0EG

RTP Global, Omidyar, Alteria, others back Wiom’s $17 mn Series A

YourNest, Omidyar Network India, Global Brain, Blume Founders Fund, Alteria Capital, Stride Ventures, Stride One and 9 Unicorns also participated in the round. from mint - money https://ift.tt/dqUht0z https://ift.tt/19aA0EG

Together makes first close of $150 mn fund

The fund will be used for early stage investment in SaaS, AI startups from mint - money https://ift.tt/KmOijGY https://ift.tt/19aA0EG

How HNIs can invest abroad without the LRS limit or TCS

Indian residents face difficulties in investing outside the country due to tax regulations. However, incorporating a Limited Liability Partnership (LLP) offers a way around these restrictions for high net worth individuals, as LLPs are permitted to invest abroad via two modes: overseas direct investments (ODI) and overseas portfolio investments (OPI). LLPs registered as an 'Indian entity' are not subject to the usual remittance rules and tax rates. This route provides a tax-efficient method to create a global portfolio, although experts warn that the loophole may be closed in the future. from mint - money https://ift.tt/iFZUkGD https://ift.tt/OMkNV6L

ITR filing: Why salaried individuals should not indulge in F&O trading

CA Chirag Chauhan cautions that engaging in F&O trading while holding a job requires careful consideration from mint - money https://ift.tt/e3HmdQp https://ift.tt/OMkNV6L

ITR filing: Income tax department may impose penalty of up to 200% of your actual tax outgo. Check details

Income Tax Department intensifies efforts to tackle taxpayers using fake rent receipts to evade taxes. Notices are issued to individuals for proof of tax exemptions. Scrutiny and penalties for under-reporting income. Tips for honest tax compliance provided from mint - money https://ift.tt/IrEdW6J https://ift.tt/OMkNV6L

Mutual funds: Why direct plans are stealing the show

Investors who already have investments in a regular mutual fund plan should note that their decision to shift to a direct plan is bound to have tax implications. from mint - money https://ift.tt/k2UO0RW https://ift.tt/OMkNV6L

SCSS vs Senior Citizen Fixed Deposit: Which is better for elderly people?

Senior citizens prefer low-risk instruments like bank fixed deposits (FDs) and small savings schemes. Returns from both SCSS and Senior Citizen FDs are taxable from mint - money https://ift.tt/Sf3HIFR https://ift.tt/2xjtrsy

Axis Bank revises fixed deposit rates. Now get more than a 7% interest rate on these tenures. Latest FD rates here

Axis Bank has revised its fixed deposit interest rates for amounts below ₹2 crore. The new rates range from 3.50% to 7.10% for the general public and from 3.50% to 7.85% for senior citizens from mint - money https://ift.tt/qOL0scR https://ift.tt/2xjtrsy

ITR Filing Due Date Extension: Is the govt looking to extend the deadline to aid flood-affected areas?

Taxpayers are rushing to file their income tax returns in India before the July 31 deadline, with over 4 crore returns already filed. There is no current proposal to extend the deadline. However, there may be a consideration for extending the deadline in flood-affected states from mint - money https://ift.tt/BjmNWOC https://ift.tt/2xjtrsy

Income tax news: Do I have to request the bank to deduct TDS from my interest?

According to income tax laws, a bank is required to deduct tax at source if the aggregate interest likely to be paid by all its branches exceeds ₹40,000 in a year from mint - money https://ift.tt/zw2vBp1 https://ift.tt/2xjtrsy

How HDFC’s mutual fund, ICS give succour to cancer patients

HDFC Mutual Fund is collaborating with the Indian Cancer Society (ICS) to launch a new Cancer Cure Fund, allowing investors to donate returns to support cancer patients. The fund is a fixed maturity plan with a 1,196-day tenure, and investors can choose to donate either 50% or 75% of their returns. HDFC AMC will match the donation, up to a limit of INR16 crore ($2.13m) per financial year. The fund has helped around 13,000 patients with a cumulative funding of INR226 crore over the past decade. from mint - money https://ift.tt/1pVYDWA https://ift.tt/2xjtrsy

ITR filing last date: Six lesser-known tax deductions you can claim while filing income tax return

The last date for filing income tax returns (ITR) for FY 2023 is approaching, and taxpayers are urged to file early. Filing early allows for evaluating deductions, such as investments in NPS, and tax-free savings account interest, among others from mint - money https://ift.tt/lFArPLm https://ift.tt/2xjtrsy

ITR filing July 31 deadline: Penalties and other outcomes if you miss the due date to file income tax return

The deadline for filing income tax returns for FY 2022-23 is July 31, 2023. Taxpayers are urged to file on time to avoid penalties and late fees from mint - money https://ift.tt/KkQA5HU https://ift.tt/CpGkDMb

Income tax news: How my YouTube earnings are taxed?

If your YouTube channel is your main source of income or earns you substantial income, it will be treated as business income and taxed accordingly. If it is just a spare time activity with minimal income, it can be taxed under 'income from other sources' from mint - money https://ift.tt/s6T54OW https://ift.tt/CpGkDMb

EPFO interest rate credit news: Govt approves 8.15% rate for Provident Fund (PF) deposits for 2022-23

The Centre has accepted the recommendation to increase the interest rate of deposits in the Provident Fund to 8.15% for the current financial year. EPFO will begin crediting the interest to subscribers' accounts from mint - money https://ift.tt/0IXwVA6 https://ift.tt/CpGkDMb

Issue of tax notices has become predictable: Nirmala Sitharaman

The minister said that the Modi administration has brought more certainty to tax payers from mint - money https://ift.tt/oqTcHm1 https://ift.tt/CpGkDMb

HDFC Infinia reclaims top spot as Axis devalues Magnus credit card

Axis Magnus was a hugely sought-after credit card and offered one of the highest reward points in the world. from mint - money https://ift.tt/NB7lMFC https://ift.tt/CpGkDMb

Centre notifies 8.15% rate of interest for FY23 under EPF scheme

In 2021-22, the government had notified an 8.10% annual rate of interest for EPF accumulations, down from 8.50% in 2020-21 from mint - money https://ift.tt/y7VvEfl https://ift.tt/CpGkDMb

T-bills are safer and better than fixed deposits

T- Bills are promissory notes issued by the Reserve Bank of India (RBI) almost every week on behalf of the government of India. These bills come with a maturity profile of 91 days, 182 days and 364 days. from mint - money https://ift.tt/BfXOshz https://ift.tt/SDfkQ1R

Education in IT has a huge payoff for those getting jobs abroad

Upskilling costs can continue for an IT professional, but several companies offer to pay their employees for this. from mint - money https://ift.tt/Sy0Cqz6 https://ift.tt/SDfkQ1R

Income tax return (ITR): How to check IT refund status online

A taxpayer can check status online for income tax refund in 5 steps from mint - money https://ift.tt/JLmgQPT https://ift.tt/SDfkQ1R

What is financial trauma? How to deal with it?

Financial hardships and losses can have a lasting impact on mental health, causing trauma, stress, anxiety, and even suicide. Financial trauma affects relationships, self-esteem, and decision-making. It is important to talk about financial struggles and seek support to cope with such trauma from mint - money https://ift.tt/V2zdDPE https://ift.tt/SDfkQ1R

Instant payments finally reach America with FedNow

The country’s banks are not entirely on board from mint - money https://ift.tt/Q6fZ4qi https://ift.tt/fRdE4Q8

Pension funds to invest in sovereign green bonds (SGrBs): How it will impact retail investors?

Pension funds in India will be allowed to invest in sovereign green bonds (SGrBs), according to the Pension Fund Regulatory and Development Authority (PFRDA). SGrBs are government-issued bonds used to finance environment-related projects from mint - money https://ift.tt/4QDyTwh https://ift.tt/fRdE4Q8

Income tax news: How the profits on redemption of ULIP policies are taxed?

The gain from the ULIP policy will be taxed under Section 112 as long-term capital gains after applying indexation on the single premium paid. It cannot be taxed under the head ‘Income from other sources’ from mint - money https://ift.tt/YiyFwTG https://ift.tt/fRdE4Q8

Are high returns in invoice discounting worth the risks

Invoice discounting platforms have their own credit rating system for vendors, but it is unreliable. from mint - money https://ift.tt/JfhtCS0 https://ift.tt/iYkHmZK

Six reasons why debt mutual funds (MFs) are still better than bank fixed deposits (FDs)

Bank fixed deposits (FDs) are losing popularity as a long-term investment option due to lower returns and limited flexibility. Debt Mutual Funds (DMFs) offer higher returns, making them a better choice for investors from mint - money https://ift.tt/XOrB4am https://ift.tt/iYkHmZK

Income tax return filing 2023: Which ITR form to use? Types of ITR forms for FY 2022-23

Confused about which ITR form to use for filing taxes? ITR 1 is for residents with income from salaries and other sources, ITR 2 is for those without business income, and ITR 4 is for those using presumptive taxation from mint - money https://ift.tt/2Q0JkIp https://ift.tt/iYkHmZK

CRCS Sahara refund portal: Here is how Sahara Group depositors can claim refund

The Centre has taken a significant step towards refunding approximately ₹5,000 crore to depositors whose funds are trapped in four cooperative societies of Sahara Group. To facilitate this transparent refund process, Cooperation Minister Amit Shah launched the 'CRCS-Sahara Refund Portal.'  from mint - money https://ift.tt/jvBzqSH https://ift.tt/iYkHmZK

Understanding the risks in AIFs and PMS investments

The liquidity risk in AIFs is so grave that even some venture capital funds have been unable to sell their investments due to the ongoing startup funding winter, according to financial market experts. from mint - money https://ift.tt/qAPMZgl https://ift.tt/2MzbjtH

Bank Fixed Deposit (FD) vs National Savings Certificate (NSC): Where to invest for higher returns

Bank FD vs NSC: The National Saving Certificate (NSC) offers a higher interest rate of 7.7% compared to banks' FD rates of 3% to 7.25%. NSC is a low-risk investment backed by the government, while FD rates vary from mint - money https://ift.tt/qLW0sgj https://ift.tt/2MzbjtH

Why Mutual Fund investors are offloading focussed funds. Experts explain

Equity mutual funds in India saw net inflows in June, except for large-cap and focused funds. Focused funds invest in a maximum of 30 stocks and are considered more volatile from mint - money https://ift.tt/Cr8k1jf https://ift.tt/2MzbjtH

ITR filing 2023: Over three crore income tax returns filed so far, says income tax department

ITR filing 2023: More than 91% of the 3.06 crore income tax returns (ITRs) filed for the assessment year 2023-24 have been e-verified, with over 1.50 crore ITRs already processed from mint - money https://ift.tt/ZE1GCPf https://ift.tt/2MzbjtH

ITR filing 2023: Five heads of income you need to report in income tax return filing

While filing Income Tax Return (ITR), individuals must accurately report their income under these five specified heads as per Section 14 of the Income Tax Act and calculate their total income accordingly from mint - money https://ift.tt/c8GdnuE https://ift.tt/2MzbjtH

CRCS Sahara refund portal: Claim process, direct online link, eligibility, documents, how to apply. All details here

CRCS Sahara refund portal: Depositors can apply for refunds on the CRCS-Sahara Refund Portal, and the money will be deposited into their bank accounts within 45 days. The portal is expected to benefit approximately one crore depositors from mint - money https://ift.tt/K4UkNe7 https://ift.tt/2MzbjtH

Investments in India: How moving to the US changes your tax compliance

Migrating to the US poses tax and investment considerations for individuals like Karen, who must report their Indian investments to the IRS. Compliance is important to avoid penalties. Various methods of reporting exist, such as market to market or qualified electing fund. Families living partly in India and US face additional cross-border taxation and investment challenges. Green card holders like Karen have options like investing in Indian equities through US-based ETFs or Indian portfolio management services to reduce compliance burdens. New tax provisions also affect Ulip policies for green card holders and NRIs. from mint - money https://ift.tt/8xXMrwZ https://ift.tt/rduDYsl

Showtime! Will it be costlier cinemas or cheaper OTTs?

Christopher Nolan's film Oppenheimer is releasing in theaters this week. However, the rising ticket prices in major cities like Delhi and Mumbai are making many moviegoers consider streaming options instead. The cost of watching a movie in theaters, including travel and food expenses, can easily reach ?1,000 per person or ?4,000 for a family of four. In comparison, OTT platforms like Amazon Prime and Disney-Hotstar offer annual subscriptions for just ?1,499, making them a more affordable choice for film enthusiasts. However, some cinephiles still prefer the theater experience and are willing to pay the higher prices. from mint - money https://ift.tt/d82AuDT https://ift.tt/rduDYsl

Four banks offering this post office small saving scheme earning 7.5% interest rate

The Mahila Samman Savings Certificate, 2023 is a small savings scheme for women and girls in India, introduced to promote financial inclusion and empowerment. It can now be opened at banks as well as post offices from mint - money https://ift.tt/N4TB6Fh https://ift.tt/rduDYsl

ITR filing 2023: These senior citizens do not have to file income tax returns. Details here

ITR filing 2023: The last date for ITR filing for FY 2022-23 is 31st July 2023. Senior citizens aged 75 and above may be exempt from filing ITR if they meet certain conditions from mint - money https://ift.tt/EhULmgC https://ift.tt/rduDYsl

Mutual Fund news: DSP MF launches three open-ended exchange-traded funds (ETFs). Details here

DSP Mutual Fund has launched three open-ended exchange-traded funds (ETFs) - DSP S&P BSE Sensex ETF, DSP Nifty Private Bank ETF, and DSP Nifty PSU Bank ETF from mint - money https://ift.tt/91znYrq https://ift.tt/rduDYsl

How to become rich in India: Four smart ways to grow your surplus money

Investing in stocks, renting out on Airbnb, lease rental discounting, and digital marketing are some ways to become rich in India, according to experts from mint - money https://ift.tt/Yu1GCcq https://ift.tt/WqxGLY5

HDFC twins merger: Income tax implications that HDFC Bank shareholders should know

HDFC twins merger: Every HDFC shareholder has got 42 shares of HDFC Bank for every 25 shares they hold from mint - money https://ift.tt/hvbyN1s https://ift.tt/WqxGLY5

‘Gamechanger’: SBI YONO app for all. How non-SBI accountholders can make UPI payments using yono

SBI allows any bank customer to use its YONO app for UPI payments, expanding access to digital payments and promoting financial inclusion from mint - money https://ift.tt/cgSOsvY https://ift.tt/WqxGLY5

How trading costs are split across govt taxes, brokerage?

If the trading volumes remain the way they were in FY23, the STT collections could even be higher in FY24 as the government has increased the STT charges. from mint - money https://ift.tt/9nqdxMI https://ift.tt/WqxGLY5

HDFC merger: tax implications for shareholders

As per the share exchange ratio of the merger, for every 25 shares of HDFC, 42 shares of HDFC Bank were issued to the former’s shareholders. from mint - money https://ift.tt/rvxQzuw https://ift.tt/WqxGLY5

Which is more tax-efficient for equity investors: PMSes or MFs?

Mutual funds score better than portfolio management services where it concerns tax on capital gains, dividends. from mint - money https://ift.tt/0ezLfAJ https://ift.tt/WqxGLY5

Why mutual fund AMCs are declining fresh lump-sum investments in small-cap funds — explained

Indian mutual fund companies are declining fresh lump-sum investment in small-cap schemes as the small-cap index has reached record highs from mint - money https://ift.tt/8e6UZVj https://ift.tt/egtRTPX

EPFO news: How EPF account holders can update exit date online after changing jobs

Employees can now update their date of exit on the EPFO site after quitting their job. They need to log in to the Member Sewa portal using their UAN and password from mint - money https://ift.tt/jUYfPdl https://ift.tt/egtRTPX

Real Estate Investment Trusts (REITs): Structure, benefits, and risks associated with this investment option

Real Estate Investment Trusts (REITs) offer diversity, dividend potential, and liquidity. They also provide instant liquidity and regulatory oversight from mint - money https://ift.tt/5kaSAbt https://ift.tt/egtRTPX

Income tax news: How one-time alimony is taxed?

The writer is seeking advice on whether his mother can transfer a property to his wife during their divorce settlement and the tax implications for his wife from mint - money https://ift.tt/NzGULh9 https://ift.tt/egtRTPX

Where can I get my credit score and how often can I check that?

Regularly checking your credit score is important for identifying errors, monitoring for fraud, and improving credit health. In India, credit scores range from 300 to 900, with higher scores indicating better creditworthiness. The best sources for checking credit scores are the authorized credit bureaus: TransUnion CIBIL, Experian, Equifax, and CRIF High Mark. Remember, you are entitled to one free credit report per year from each bureau. from mint - money https://ift.tt/2wI1UpM https://ift.tt/9ETmMD7

Tax on reduction of capital: Here’s how shareholders will get affected

The cancellation of shares by an unlisted subsidiary of a listed company has caused concern among investors due to the low price and tax implications. Shareholders will be taxed on the amount paid out as dividend, which could be as high as 35.88%. Employees who acquired shares through stock options will also be affected. The tax treatment of buybacks, capital reductions, and share sales should be harmonized to avoid adverse tax consequences for shareholders. from mint - money https://ift.tt/QZhntso https://ift.tt/9ETmMD7

Why retail shareholders need to be wary of unlisted firms

Reliance Retail's buyback offer highlights the risks faced by retail shareholders in the unlisted shares market, as they now face heavy losses. This episode sheds light on the challenges faced by retail investors in engaging with unlisted stocks. Previous cases, such as Ricoh India and Chennai Super Kings, demonstrate the vulnerability of minority shareholders in such situations. The PharmEasy story further emphasizes the volatile nature of holding minority shares in startups, with fluctuating valuations and sharp declines in share prices over time. Various risks include capital reduction and squeeze-out by majority shareholders, taxation risk, exclusion from future growth opportunities, and idiosyncratic risks. from mint - money https://ift.tt/oxDkC3z https://ift.tt/9ETmMD7

SBI Fixed Deposit (FD) or Post Office term deposit? Where to invest your money? Latest interest rates compared

SBI FD vs Post Office time deposit: SBI FD rates range from 3-7.1%, while post office time deposit rates range from 6.9-7.5%. Both offer low-risk investment options with tax exemptions from mint - money https://ift.tt/r7zLKjT https://ift.tt/9ETmMD7

Gold vs Bank FD: Which asset class attracted more money from Indian middle class? World Gold Council reports

Gold has long been a preferred investment option in India, especially among middle, and low-income households. The survey indicates that gold is not just purchased for adornment but is considered a de facto investment product from mint - money https://ift.tt/WM6R2Aq https://ift.tt/9ETmMD7

Income tax: How long-term capital gains are taxed on ancestral property?

LTCG on ancestral property: To save on capital gains tax, the person can either reinvest the sale proceeds in a residential house or invest in capital gain bonds from mint - money https://ift.tt/YUuHDEC https://ift.tt/9ETmMD7

DA alert: Centre declares Dearness Allowance for these central government employees

The Department of Public Enterprises has amended the rates of Dearness Allowance for executives and supervisors in CPSEs, effective from 1 July 2023 from mint - money https://ift.tt/5TsYveF https://ift.tt/9ETmMD7

Never lose money on your investments: first step towards wealth creation 

Equity is one of the best performing asset class but its penetration has been low in India, accounting for only 4.8% of total household savings. from mint - money https://ift.tt/yZCfm2V https://ift.tt/0rsR5Zo

Here is how you can lay claim to those long-forgotten assets

Delhi-based firm GLC Wealth Advisory helps individuals reclaim forgotten investments in shares, real estate, and government securities. The Indian government estimates that unclaimed deposits in bank accounts total ?35,012 crore ($4.7 billion), while unclaimed insurance amounts to ?20,000-22,000 crore ($2.7-2.9 billion). GLC Wealth is working with insurers, including ICICI Prudential Life Insurance and LIC, to help locate policyholders and distribute unclaimed benefits. Private recovery platforms also assist in recovering unclaimed assets, but the process can take up to three years. from mint - money https://ift.tt/X0N95Zi https://ift.tt/0rsR5Zo

Should you take home loan to save income tax?

Losses from rental income can only be set off against other income up to ₹2 lakh per year. It is not advisable to buy a property solely for tax benefits from mint - money https://ift.tt/4pEgBZi https://ift.tt/0rsR5Zo

How to get rich: Ten powerful money lessons from ‘Rich Dad Poor Dad’ that you should implement from today

'Rich Dad, Poor Dad' by Robert Kiyosaki offers powerful money lessons on financial education, passive income, risk-taking, leveraging resources, controlling spending, handling debt, and personal growth from mint - money https://ift.tt/yG45vaJ https://ift.tt/0rsR5Zo

Mutual funds investment: Stock market rally over? Why MF investors are betting big on contra funds explained here

Equity mutual funds in India attracted the highest net inflow in three months, with investors betting on contra funds that offer reasonable valuations and long-term positive outlooks from mint - money https://ift.tt/sw1t7c3 https://ift.tt/0rsR5Zo

Why the PAN of some NRIs have turned inoperable

Many NRIs have not updated their non-resident status in income-tax department records from mint - money https://ift.tt/geskcWN https://ift.tt/0rsR5Zo

ITR filing crosses 2 crore mark 9 days earlier than last year in AY 23-24

As the last date to file an ITR inches closer, more and more income tax payers have filed for their income tax returns. In a major achievement, the Income tax department crossed the 2 crore milestone 9 days early this year on Tuesday from mint - money https://ift.tt/53fbqX1 https://ift.tt/0p3FqNr

Does technical analysis really aid your market investment strategy?

TA is very popular among both rookie investors and market experts, but it has its share of detractors as well. from mint - money https://ift.tt/reU5b1J https://ift.tt/0p3FqNr

Americas Biggest Banks Are Going to Need More Capital

Fed’s regulatory chief says move would help system’s resilience after string of midsize bank failures from mint - money https://ift.tt/VLqYKS2 https://ift.tt/0p3FqNr

Public Provident Fund (PPF) vs Fixed Deposit (FD): Which is better when it comes to liquidity?

Fixed deposits (FDs) and Public Provident Fund (PPF) are both good options for saving and investing, but there are key differences. PPF offers tax benefits and a safe, long-term investment, while FDs offer more flexibility and liquidity from mint - money https://ift.tt/dZr9yuT https://ift.tt/Lucabgm

Keep a tab on your credit report

Credit information is a critical barometer to gauge an individual’s financial health and helps address the problem of asymmetric information between borrowers and lenders from mint - money https://ift.tt/IKVmcRA https://ift.tt/Lucabgm

ITR filing 2023: What to do to ensure maximum income tax refund

As the deadline for filing income tax returns approaches, taxpayers should know the rules for claiming refunds. It is important to verify tax credits and maximize deductions and exemptions to increase the chances of receiving a refund from mint - money https://ift.tt/9UrYkXm https://ift.tt/Lucabgm

HDFC Bank extends special fixed deposit (FD) scheme for senior citizens. Interest rate other details here

HDFC Bank has extended its special fixed deposit scheme for senior citizens, offering higher interest rates The bank is providing an additional premium of 0.25% for FDs of less than 5 crores with a tenure of 5 years to 10 years from mint - money https://ift.tt/oGmTJPM https://ift.tt/Lucabgm

How is the tax on EPF interest calculated?

The accumulated PF balance to the credit of the employee as on the date of cessation of employment, is exempt from tax, if he/she has rendered continuous service for five years or more. from mint - money https://ift.tt/GQ3Bwdm https://ift.tt/Lucabgm

How banks could jeopardize your credit rating

Credit information is a critical barometer to gauge an individual’s financial health and helps address the problem of asymmetric information between borrowers and lenders from mint - money https://ift.tt/QN9yT30 https://ift.tt/Lucabgm

New debit credit card rules: How bank customers will benefit from this RBI proposal of card portability

New debit credit card rules: The Reserve Bank of India (RBI) has introduced a draft rule allowing debit, credit, and prepaid card users to choose their preferred card network. This move challenges the current practice of predetermined card network options from mint - money https://ift.tt/3W7FqH0 https://ift.tt/cxHBNq8

Sebi issues rules for PE backed MFs

Sebi said the applicant must have a minimum of five years of experience in the capacity of fund manager and an experience of investing in the financial sector. from mint - money https://ift.tt/cbDRpfk https://ift.tt/cxHBNq8

'Loan approval in 30 seconds': Flipkart partners with Axis Bank to facilitate personal loans for customers

Flipkart has partnered with Axis Bank to offer personal loans to its 450 million customers, providing access to amounts up to ₹lakh with flexible repayment options. The approval process for loans is expected to take just 30 seconds, offering convenience and accessibility to customers from mint - money https://ift.tt/RPd4ADc https://ift.tt/cxHBNq8

Heres how young professionals can start building their credit history

Your credit score plays a key role in shaping your overall financial well-being and opens doors to various opportunities. from mint - money https://ift.tt/YTy4coA https://ift.tt/rR1Bity

HDFC Bank-HDFC merger: Top ten changes for fixed deposit (FD) RD and other depositors after HDFC twins amalgamation

HDFC Ltd-HDFC Bank merger: HDFC Bank and HDFC Ltd have merged, resulting in changes for the fixed deposit (FD), and recurring deposit (RD) customers from mint - money https://ift.tt/paL1VGS https://ift.tt/rR1Bity

Investors have reason to fear a strong economy

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Missed to link PAN card with Aadhaar? Top ten money losses that you may face. Read here

The deadline for linking PAN with Aadhaar has expired, making PAN cards inoperative. This affects financial transactions such as opening bank accounts and trading in securities from mint - money https://ift.tt/1UEyIMD https://ift.tt/rR1Bity

HDFC Bank's special fixed deposit (FD) for senior citizens with higher interest rates to end tomorrow. Details here

HDFC Bank's special fixed deposit scheme for senior citizens, offering higher interest rates, will end tomorrow. The bank offers an interest rate of 7.75% to elderly people on tenure of 5 years and 1 day to 10 years from mint - money https://ift.tt/ZwHCEsD https://ift.tt/rR1Bity

ITR filing: Five income tax refund rules you should know

The due date for filing income tax returns (ITR) is 31st July 2023. Taxpayers are entitled to a refund if taxes paid exceed their liability. Refunds must be claimed by filing ITR from mint - money https://ift.tt/aPVeuNU https://ift.tt/rR1Bity

Can a single woman working as a freelancer secure a home loan?

As a freelancer, lenders may require additional documents, such as income tax returns, bank statements, and client contracts, to evaluate your income stability. Make sure you have a set of these documents ready. from mint - money https://ift.tt/OqT7kBK https://ift.tt/HQURqD6

Benchmarking investment performance: What it really means

The use of benchmarks is essential for measuring performance in various fields, including sports and investments. In the investment industry, benchmarks help investors evaluate the performance of their fund managers. However, there are practical limitations in comparing active funds to their benchmarks, such as investment limits and transaction costs. Benchmarks are not readily available for all types of funds, so asset management companies often choose or create a benchmark that fits their fund's description. from mint - money https://ift.tt/5s1JWkI https://ift.tt/HQURqD6

Why credit card users want to grab hold of Axis Magnus

The Axis Magnus credit card from Axis Bank boasts of a high earning as well as redemption rate. It offers 12 EDGE Rewards (ER) on every ₹200 spent. from mint - money https://ift.tt/pSGt68A https://ift.tt/HQURqD6

What is keeping Indians away from health insurance?

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NPS is an attractive product because of its low cost: PFRDA chairman Deepak Mohanty

Deepak Mohanty, who assumed charge in March, said in an interview with Mint that the SWP option is slated to be rolled out in October. from mint - money https://ift.tt/pT9lhBO https://ift.tt/HQURqD6

Agri-investment comes with risks. Look at Growpital

Growpital is an agricultural investment platform that claims to offer tax-free fixed-profit sharing to investors ranging from 10% to 15% on investments. from mint - money https://ift.tt/F5ASsKd https://ift.tt/sNR9J1Y

Will my office policy cover maternity costs?

Typically, group health insurance policies offered by employers carry a sub-limit for maternity delivery claims. from mint - money https://ift.tt/bf5TxLZ https://ift.tt/sNR9J1Y

How to get 5% TCS for remittances beyond 7 lakh

The Central Board of Direct Taxes (CBDT) has issued some important guidelines on the implementation of changes relating to TCS under the LRS and for overseas tour packages. from mint - money https://ift.tt/d496lX7 https://ift.tt/sNR9J1Y

Want to invest in agricultural land? Here is what you ought to know

The primary challenge to buying such land is in ensuring a clear title deed without any encumbrances. from mint - money https://ift.tt/sZt1K8A https://ift.tt/sNR9J1Y

Public Provident Fund (PPF) vs Post Office Fixed Deposit (FD): Interest rates compared. Which is suitable for whom?

Interest rates on Post Office Time Deposit have been revised for the July-September quarter, offering higher returns to depositors from mint - money https://ift.tt/u3qYjTr https://ift.tt/rlpmDst

Seven bank fixed deposits (FDs) have given more returns than Nifty Sensex Bank Nifty in 2023. Check here

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Yes Bank hikes fixed deposit rates on select tenures. Check latest FD rates here

Yes Bank has revised its fixed deposit interest rates for deposits under ₹2 crore. The new rates are effective from today, 3 July 2023 from mint - money https://ift.tt/Qe1m6Gp https://ift.tt/rlpmDst

The hunt for the right broker for futures and options trading

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What rabbits tell you about power of compounding

The introduction of 24 rabbits to Australia in 1859 led to a rapid increase in their population due to lack of predators. This demonstrates the power of compounding, which takes time to show significant results. This lesson applies to investing, where compounding can yield significant returns over the long term. from mint - money https://ift.tt/ifwx03c https://ift.tt/rlpmDst

How to decide on the right broker for your futures & options trading

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Banks' net interest margin rises 46 bps to 3.3% in Q4FY23 on slow deposit rate resetting: Report

The NIM saw an on-year improvement of 46 basis points (bps) to 3.3 per cent in the fourth quarter due to the faster repricing of loans, while deposit rates have not yet reflected the increased interest rates. from mint - money https://ift.tt/JRQocSw https://ift.tt/rlpmDst

Can an App Make Your Kids Smarter About Money?

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Mutual funds: Why investors are pausing their SIPs explained

Mutual fund SIPs in India are being paused or closed due to impatience among new-age investors who are flocking to the stock market, say tax and investment experts from mint - money https://ift.tt/m4O18dw https://ift.tt/vGotJX2