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Income tax department's e-calendar for 2023 includes important tax deadlines, such as depositing tax and filing forms from mint - money

Demand for digital gold investments in India increases during festive periods due to customs, traditions, and the desire to commemorate special occasions with precious metals from mint - money

Over the past few years, alternative investment funds (AIFs) have evolved as a popular investment vehicle. from mint - money

You will have to rely on a home loan to buy the house. If we consider a loan of ₹1 crore for 20 years then the equated monthly instalment (EMI) for the same could be approximately ₹87,000 at an interest rate of 8.5% p.a. from mint - money

Only 54% of retail money in India remained invested in equity mutual funds for more than two years in 2020, as investors redeem for various reasons. However, fintech platforms such as VoltMoney and Mirae Asset Financial Services are working to change this by offering loans against mutual fund units, providing short-term liquidity while allowing investments to continue growing. This approach circumvents capital gains tax, exit load charges, and unfavourable market timing, offering a versatile solution for various financial needs. However, experts caution that borrowing against MF holdings should be done strategically and with careful consideration of the risks involved. from mint - money

September brings changes in money matters: Let's take a look at key money changes from mint - money

ITR verification last day 2023: Taxpayers must verify their ITR within 30 days of filing to avoid penalties. The income tax department aims to reduce processing time for tax refunds from mint - money

To begin with, fill the dispute form. You can do this online on the Cibil website. You need to provide all the necessary details and clearly explain the discrepancy. from mint - money

Finfluencers in India are facing criticism for posting fake trading screenshots and videos to attract followers. They earn revenue from affiliate links provided by brokers and also sell trading courses. Regulators are proposing measures to prevent registered intermediaries from partnering with finfluencers. The rise of these influencers has increased the risk of fraud and a breakdown of trust in the financial system. from mint - money

Rakhi festival sees a shift from traditional gifts to new-age assets like stocks, mutual funds, and cryptocurrency. Gifting crypto adds a modern twist to the tradition and promotes financial empowerment from mint - money

The gifts are taxable in the hands of therecipient under Section 56(2)(x) but gifts from certain specified relatives are outside the scope of this provision from mint - money

It is settled law that a nominee does not become the owner of the property. Nominee holds the property in trust for the legal heirs. from mint - money

A large listed company recently announced that it would cancel the equity shares with DVRs that it had issued and instead allot a lesser number of ordinary equity shares to the DVR shareholders. from mint - money

Rising interest rates extend the tenure of home loans, so experts say it is wiser to opt for higher EMIs. from mint - money

Investors must ensure returns beat inflation; Indian retail inflation rate in July 2023 was 7.44%; bank FDs and PPF do not produce inflation-beating returns from mint - money

The revamped income tax website provides enhanced taxpayer services and a user-friendly interface with new features and modules from mint - money

Owning a home through a home loan offers equity growth, stability, tax benefits, and investment potential. Renting allows for short-term flexibility and initial cost savings from mint - money

It offers people a handsome monthly income stream that is significantly higher than a standard rental yield. from mint - money

Radhika Gupta's 5 investment tips for young earners--invest early, right asset allocation, simple investments, setting goals, and enjoying your money. from mint - money

When it comes to saving for retirement, you face several risks—market fluctuations, rising living costs, risk of outliving your savings, etc. from mint - money

Gym fees, fitness and exercise equipment, special diets are all expensive but tummy tucks cost you more. from mint - money

Rising lifestyle diseases hinder health insurance for adults, with diabetes as the major obstacle from mint - money

Prepaying home loans can help homeowners save money and become debt-free faster, but it depends on individual circumstances from mint - money

E-verification of ITRs is mandatory. Tax filers must e-verify their returns within 30 days of filing. from mint - money

Some investors make the mistake of making direct stock picks just based on the portfolio disclosures of their mutual funds, to mimic the fund manager. from mint - money

India's market regulator, Securities and Exchange Board of India (Sebi), has issued a show-cause notice to L&T Mutual Fund over its lack of transparency regarding fund management decisions. Sebi accused the asset management company of not providing detailed reasons for its buy-sell decisions. While Sebi did not impose a fine, the notice shed light on the internal decision-making processes at L&T Mutual Fund. The case highlights the need for industry participants to ensure transparency and analytical rigour in their investment decisions. from mint - money

Currently, your cash and investments total ₹2.2 crore. Out of this, ₹97 lakh is invested in real estate and ₹10 lakh is the car loan outstanding. This leaves you with ₹1.23 crore. from mint - money

Recurring deposits (RD) popular for fixed-income investors with maturities from 1 to 10 years. SBI and Post Office offer RD with interest rates below inflation rate from mint - money

Income tax department plans to reduce tax refund processing time to 10 days from the current 16 days from mint - money

The stock market hitting a new all-time high recently, and hovering around it now, has rekindled the interest of investors. from mint - money

It’s been a little over a year since a massive front-running scandal erupted at Axis Mutual Fund. The firm has since set its house in order and is now readying for a fresh innings. from mint - money

There has been a fair amount of debate in the past on whether TDS is to be made on the entire amount of sale consideration or only on the portion of income chargeable to tax. from mint - money

Raksha Bandhan 2023: Financial gifts for sisters include SIPs, health insurance, savings accounts, digital gold, and stocks from mint - money

You can draft a will for all your assets. The will should have details of the beneficiaries and details of all assets and investments. The will should then specify the distribution of assets as per your wishes. from mint - money

The happiness of quitting a job and having all the time in the world appears to be thrilling at the start. from mint - money

Around 5.5 crore taxpayers may have switched to the new tax regime in FY24, as it offers a rebate on income up to ₹7 lakh. from mint - money

A prenup agreement is a contract signed by a couple before they get married and determines the ownership rights of their respective assets if the marriage fails later. from mint - money

Banks offer special fixed deposit schemes for senior citizens with higher interest rates, but the last date keeps changing. SBI, HDFC, and ICICI are among the banks offering these schemes from mint - money

Small finance banks offer higher interest rates on fixed deposits (FDs) to senior citizens. For example, Equitas Small Finance Bank offers 9% interest on FDs for senior citizens for 444 days from mint - money

World Senior Citizens Day 2023: It is important to consider prudent investment options that prioritize safety and steady returns for the elderly. Mutual funds, fixed deposits, PPF, post office savings schemes, and gold are all potential investment options to consider from mint - money

The Finance Act, 2023, amended section 10(10D) of the Income Tax (I-T) Act to remove the exemption available to sum received from a life insurance policy in case the aggregate premium for all policies issued on or after the 1 April exceeds ₹5 lakh. from mint - money

Parents need to shell out ₹25-50 lakh on school fees over the years, another ₹15-50 lakh on higher education. from mint - money

Bank FD rates compared: What do SBI, HDFC Bank, ICICI, Axis, or Canara Bank offer, read below to know more from mint - money

Saving money is a small step that can lead to big financial rewards, including financial security and empowerment. Starting to invest early can make a significant difference in the amount of money accumulated over time from mint - money

This new norms will come into effect from 1 September. from mint - money

Increasing and reallocating more monthly investments in equity mutual funds will help rebalance portfolios systematically and increase the allocation in equity. from mint - money

A depositors’ money is almost always safe. So, it makes no sense to have many accounts now from mint - money

Investors can expect 12-16% returns on mutual fund SIPs in the long run, with a monthly SIP of ₹1 lakh making an individual a crorepati in 5 years and 10 months from mint - money

Gold loans are a secured loan option offered by banks and NBFCs, where gold jewelry is used as collateral. Interest rates start from 8.88% p.a. from mint - money

Increase in home loan rates reduces affordability of residential properties in India, according to Knight Frank India. from mint - money

SBI extends the deadline for the Amrit Kalash FD scheme to December 31, 2023. Interest rates range from 7.1% to 7.6% from mint - money

When you invest in a passive fund, you are taking direct exposure to index constituents in the same proportion as they are present in the index. from mint - money

From the ongoing financial year (FY) 2023-24, the new tax regime is the default regime. Taxpayers may opt for the old tax regime if the same is beneficial. from mint - money

Buyers should check if the intermediary is selling the right product and can also act in their best interests. from mint - money

Taxation of Twitter (X) earnings: Experts say it varies based on activity, income level, and expertise from mint - money

Maharashtra, UP, Gujarat, Rajasthan, and West Bengal constitute 48% of income tax returns filed in AY23 from mint - money

Banks hike lending rates, including Canara Bank, HDFC Bank, ICICI Bank, Bank of Baroda, and Bank of India from mint - money

Axis Bank and Canara Bank have revised interest rates on fixed deposits for amounts less than ₹2 crore. The new rates range from 3.5% to 7.3% from mint - money

Investment options for financial freedom: ESG factors, digital payment systems, real estate, equity, global markets from mint - money

The flow of investments into equity mutual funds in India slowed to ₹7,625 crore in July from ₹8,367 crore the previous month. However, Swarup Mohanty, CEO and Director of Mirae Asset Investment Managers, believes there is still plenty of room for growth in the industry, with India's asset under management (AUM) as a percentage of GDP at just 15%, compared to the global average of 75%-80%. Mohanty also highlighted the potential of India's economy to double in size over the next 8-10 years and the increasing interest from Korean investors. He emphasized the need to convince younger generations, particularly Gen Z, to invest in mutual funds. from mint - money

When we prematurely cash out our funds, we interrupt the magic of compounding—the secret sauce behind investment growth. Compounding is what makes your money work harder for you over time. from mint - money

Mint mutual funds conclave debates the role of data sciences, AI and machine learning in fostering innovations. from mint - money

Financial education empowers women to take control of their finances. Mutual funds can enhance this education. Women should prioritise safeguarding their financial future by taking control of their funds and seeking genuine financial advice from mint - money

Documents such as registered purchase deed, registered sale deed, gift deed, copy of bank statements, etc. may be maintained for income-tax purposes. from mint - money

Retail investors often perceive invoice receivables as substantial collateral that guarantees capital protection from mint - money

Elon Musk recently announced that users with more than 15 million organic impressions in three months will be eligible for the revenue sharing programme. from mint - money

New online fraud technique: Fraudsters use 'Deep Fake' and 'Air Intelligence' to make video calls from known individuals, asking for money due to financial emergencies from mint - money

Exchange Traded Funds or ETFs have grown in popularity. They can only be traded through stock exchanges, and need a Demat account from mint - money

The surge in India's mutual fund industry reflects an appetite for equity and financial literacy; experts suggest long-term investment ideas from mint - money

Small-cap mutual funds have delivered impressive returns and are favored by investors for their potential for large gains. These funds offer diversification and have consistently outperformed large-cap funds. SIP inflows have also reached a record high from mint - money

Taxation rules for senior citizens: As per the scheme of taxation of capital gains under the income tax laws, short-term capital losses have to be first set off against short-term capital gains if any for the same financial year from mint - money

SBI Card and NPCI have linked SBI credit cards on the RuPay platform with UPI, allowing customers to make UPI transactions through their credit cards. This will enhance the payments experience and increase credit card usage from mint - money

In their quest for bigger returns, investors fall easy prey to a host of financial intermediaries such as mutual fund distributors. from mint - money

Minister of State for Labour Rameswar Teli Thursday informed the Rajya Sabha that the EPFO has invested a little over ₹2 lakh crore in exchange-traded funds since 2018-19, which accounts for its exposure in equity markets from mint - money

RBI proposes transparent framework to improve flexibility and transparency of interest rates on variable-rate loans. from mint - money

RBI allows offline UPI payments via NFC, and raises payment limit to ₹500. Repo rate unchanged at 6.5% from mint - money

The Securities and Exchange Board of India (Sebi) has issued a circular allowing mutual funds to launch six new categories under the ESG theme. However, fund managers have raised concerns about the categorization and potential limitations on stock selection. Experts suggest that the new regulations may result in lower discretion for managers and make passive strategies more attractive for investors. Some also argue that the launch of multiple ESG categories could add confusion for individual investors. from mint - money

Within investments of passion, over half or 53% Indians prefer to spend on art, luxury handbags and watches alike. from mint - money

RBI sets redemption price for premature redemption of Series I of SGB 2016-17 at ₹5950 per unit from mint - money

No tax implications on the merger of HDFC and HDFC Bank. Combined holding period considered for capital gains. Fractional shares taxed at 20% if held for over 12 months, at slab rate if held for less. from mint - money

AU Small Finance Bank launches 24x7 Video Banking, providing customers with real-time video calls for banking services. Security measures include encryption and facial recognition. The service aims to enhance accessibility and convenience for customers, catering to a diverse range of segments from mint - money

Instead of an HUF, we recommend you to consider setting up a trust. In such a case, the parents can set up the trust as a settlor and other family members, including the married daughter and her children, can be beneficiaries. from mint - money

Understanding salary components and their taxation is crucial for employees to maximize their take-home pay. Components such as flexi benefits and reimbursements can help lower taxes, but employees need to provide receipts for these expenses. Employers can also offer perks that are not part of the salary, such as a phone or car for official use, which have their own tax benefits. The new tax regime offers lower tax rates but fewer tax-efficient tools. Employees should focus on post-tax salary rather than CTC or gross pay. from mint - money

A guide to weighing security, convenience and benefits of each payment option from mint - money

Maturity proceeds under single-premium life insurance policies are not exempt. Premiums exceeding 10% of the sum assured are taxable. Indexation benefits may be available for long-term capital gains from mint - money

The income tax department sends notices to individuals who earned extra money through moonlighting but failed to mention it on their tax returns. Moonlighting income can complicate tax calculations and taxpayers may have to pay additional taxes and interest from mint - money

HDFC Bank has increased its benchmark MCLR rates by 15 bps on select tenures, effective from 7 August from mint - money

The regulatory regime lacks adequate mechanism to prevent such occurrences, perhaps due to lack of accountability and levy of penalties. from mint - money

Suryadaya Small Finance Bank revised interest rates revised fixed deposits from Monday. The interest rates have been revised in five years slabs by 85 basis points from mint - money

Indian government likely to increase dearness allowance for employees and pensioners by 3% to 45% from existing 42%. from mint - money

The online platform aims to make arbitration cost-efficient, less time-consuming for wider set of investors. from mint - money

The government on 24 July accepted the recommendation of the Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) to increase the interest rate of deposits in Provident Fund (PF) to 8.15 percent from mint - money

ITR refund status: Phishing scam targets income tax refund messages; refunds take 10 days to 2 weeks after ITR processing from mint - money

Home buyers paying 20% more in EMIs; borrowers should research interest rates, consider refinancing, and be aware of additional charges. Variable interest rates have risks and CIBIL score is crucial from mint - money

CRCS Sahara portal refund transfer begins: Union Home Minister Amit Shah transfers funds to genuine depositors through the Sahara portal, 112 beneficiaries receive ₹10,000 each from mint - money

Khara said that SBI home loan book grew 13.47 per cent to ₹6,52,548 crore in Q1FY24, compared to ₹6,40,680 crore in Q4FY23 and from ₹5,75,075 lakh crore in Q1FY23. from mint - money

State Bank of India offers special fixed deposit schemes with higher interest rates, including SBI We Care and SBI Amrit Kalash. from mint - money

Sahara Refund Portal: Amit Shah on Friday transferred the initial refund of ₹10,000 to 112 depositors of cooperative societies of the Sahara Group from mint - money

Kuber Bathla, a research associate, turned to expense tracking apps to monitor his spending, but found limitations in both SMS/email tracking and account aggregator systems. SMS/email tracking can be inaccurate and raises privacy concerns, while the account aggregator system has issues with credit card transactions and transaction timestamps. Expense tracking apps generate revenue through subscription fees or by selling other products on their platforms. Bathla has returned to manually tracking his expenses with Excel, citing the flaws in current apps. from mint - money

One can either go for a plain vanilla debt fund such as ultra-short-term funds, which are less sensitive to interest rate movements, compared to longer duration funds. The other option is conservative hybrid funds. from mint - money

Residency by investment programmes, such as the Portugal golden visa, have been increasingly popular across the world, particularly in the last decade. from mint - money

SBI and IDBI's special fixed deposit schemes with lucrative interest rates for general customers and senior citizens will end soon from mint - money

Under PNB mega e-auction, you have a chance to bid and win some home, plot, or shop at a lower price than the existing market rate from mint - money

Tax exemption under section 54F is claimed for plot sale, but completion of the house is required within three years to maintain exemption from mint - money

Mutual funds, particularly through systematic investment plans (SIPs), are popular for averaging returns over time. SIPs can reduce market volatility and have a significant impact on investors' returns from mint - money

Affordable housing myth: The total interest payable over a 20-year tenure is now more than the principal amount from mint - money

The economy and asset prices have proved more resilient than feared from mint - money

E-verification of income tax returns is mandatory for them to be treated as valid, according to the income tax department. Tax filers can complete the process using Aadhaar OTP, internet banking, bank account, demat account, or digital signature certificate from mint - money

Eldest daughter or grandson can become Karta of HUF bank account. Procedure includes declaration and death certificate. from mint - money

EMIs to increase as banks hike lending rates; ICICI Bank, PNB, and Bank of India revise MCLR rates effective August 1 from mint - money

You have total SIP investments, including future allocations, of ₹16,000. Of this, you have a 25%, or ₹4,000, allocation to gold. from mint - money

Broker default episodes, when there is no broker portability, is marked by forced liquidations that creates risk exposures and eliminates potential risk-taking market participants who are capable of tolerating market risk at a critical time. from mint - money

High net worth investors at risk as AIFs face redemption pressure but Sebi rules do not permit easy liquidation. from mint - money

If you missed the July 31 deadline to file your income tax return, you can still do so by December 31, but with penalties from mint - money