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Whether you are packing your bags for travel or heading to another country for studies, know the new Tax Collection at Source (TCS) rules that go into effect on October 1. Virender Bisht, Co-founder & CTO at Niyo breaks down the implications from mint - money

The earlier deadline for returning ₹2,000 notes was set to expire on Saturday. from mint - money

According to RBI's statement, while the deposit or exchange at bank branches will now be stopped after October 7, customers can continue exchange these notes at the 19 RBI issue offices up to a limit of ₹20,000 at a time. from mint - money

New personal finance rules from 1st October 2023 include mutual fund nomination, TCS on overseas expenses, and more from mint - money

SIP calculator: 15 x 15 x 15 rule of mutual funds say that an investor can accumulate ₹1 crore by investing ₹15,000 per month for 15 years from mint - money

Interest rate on savings deposits has been retained at 4%, on one-year term deposit at 6.9%, on two-year and three-year term deposit at 7%, and on the five-year term deposit at 7.5%. from mint - money

The interest rate on both the two-year and three-year term deposits is 7 per cent while on the five-year term deposit, the rate is 7.5 per cent. from mint - money

The Reserve Bank of India is likely to extend the deadline to return ₹2000 notes until the end of October. from mint - money

Here is a list of INR to USD forex rates offered by some of the major banks and travel aggregators from mint - money

A critical illness insurance policy provides a huge lump sum benefit on the diagnosis of any critical illness covered under the policy from mint - money

Try to strike the right balance between investing and enjoying life, overdoing on either side is not advisable. from mint - money

Medical experts say that a single body, or cadaver, donation can save up to eight lives and impact more than 75 others. from mint - money

Attaining financial independence demands both time and discipline in investing from mint - money

We have at least two options for you to pick from each of 10 categories from mint - money

The mutual fund industry in India has evolved significantly since the 1990s, with changes in regulations and the rise of fintech apps. Commission structures for distributors have been dismantled, direct plans have been introduced, and registered investment advisors can charge fees. However, the distribution business remains concentrated in the hands of top players, and the services of RIAs are not accessible to most people. Fintech apps offer convenience but may push unsuitable products. The industry still has room to grow towards a fee-based model. from mint - money

Embracing fractional thinking might be straightforward in arithmetic but poses regulatory challenges in company law and taxation. Nonetheless, adopting this approach could level the playing field for India's retail investors. from mint - money

One must also keep in mind the volatility risk of the asset class, liquidity, lock-in rules and taxation when investing from mint - money

The program ‘Seekho Paiso ki Bhasha’ will pave the way for financial literacy aimed at empowering teachers across India, says Kotak Mutual Fund from mint - money

TNPL options offer convenient financing and flexibility for travel, but borrowers should be aware of short repayment periods and high interest rates from mint - money

The deadline for exchanging ₹2,000 banknotes is in 4 days; 93% of notes have been returned so far from mint - money

An investor should diversify their portfolio across various asset classes and within the same asset class. Regularly review and rebalance investments from mint - money

You must minimise the risk of investing in them by choosing issuers with high ratings from mint - money

A listed company needs to have a MPS of 25% to ensure sufficient market depth, to avoid market manipulations and to enable meaningful shareholders’ democracy. from mint - money

Rental yields offer better returns than most other investments because of the tax sops offered by the government. from mint - money

From October 1, individuals investing in foreign stocks, mutual funds, or cryptocurrencies abroad will have to pay a 20% TCS if they spend over a certain amount in a financial year from mint - money

Taxation of income earned abroad in India depends on the individual's residential status. Indian income is always taxed in India, regardless of residency from mint - money

The loan amount and interest rate depend on parameters such as your income, existing credit, repayment capacity, and others from mint - money

While timing can certainly be a powerful ally in the realm of small-cap funds, it’s not the only strategy that can lead to success. from mint - money

Carpooling helps you cut fuel costs, unwanted spending on cabs and avoid hassles of unreliable public transport. from mint - money

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 from mint - money

No restrictions on cash amount to buy gold, but jewellers cannot accept more than ₹2 lakh in cash per transaction. PAN or Aadhaar is required for purchase over ₹2 lakh from mint - money

Start investing early to take advantage of compounding and growth. Don't make excuses, define goals, learn, and prioritise savings from mint - money

New TCS rule from 1 October 2023: TCS on foreign remittances under LRS raised to 20% from 5% in Union Budget 2023. Effective from October 1, 2023 from mint - money

Here is a list of INR to USD forex rates offered by some of the major banks and travel aggregators. from mint - money

The interest rate is comparatively higher and these have the advantage of tax benefits from mint - money

Dr Ravi Kannan, a Magsaysay award winner, has led the Cachar Cancer Hospital and Research Centre in Assam, providing free or subsidized cancer care treatments. However, doctors in India are increasingly facing litigation, with courts ruling that they fall under the Consumer Protection Act. This has led to higher legal costs for doctors, highlighting the need for professional indemnity insurance to cover potential claims and expenses. Despite challenges, doctors should continue setting benchmarks for public service while mitigating legal liabilities through insurance. from mint - money

An NRO account can be used as a savings account to manage the income earned in India by an NRI in Indian currency. from mint - money

October brings personal finance rule changes: Mutual fund folios require nominees by 30 September, TCS on overseas expenses, and Aadhaar for small savings, and more from mint - money

Public Provident Fund: Will PPF interest see a rate hike this time? The interest rates for the small savings schemes are due for review on September 30, 2023 from mint - money

GSTN introduces a new ledger to track reversal and reclamation of Input Tax Credit (ITC) for better compliance. Taxpayers must report accumulated ITC reversed balance by 30 Nov 2023 from mint - money

If you are a minor, you cannot submit form 15G. If you are a major, you can submit form 15G if your income is below the taxable limit from mint - money

Direct mutual fund apps require users to open a demat account, leading to concerns of cross-selling other financial products to generate revenue. from mint - money

Invest early, consider mutual funds, gold, real estate, and fixed-income investments for retirement planning in the 20s from mint - money

The deadline to update nomination details for trading, demat accounts, and Mutual Fund (MF) folios is September 30, 2023 from mint - money

One must analyse the overlapping factor which is an unavoidable constant in the dynamic world of large- cap funds. from mint - money

Under the new tax regime, interest paid on housing loan shall not be allowed as deduction in case the property is treated as self-occupied property. from mint - money

Securitization helps reduce default risk on loans by repackaging them into securities. Pass-through certificates (PTCs) are a type of securitization that spreads risk to investors, and some startups are now offering PTCs to individual investors in India. PTCs have become popular in India, with the market experiencing robust growth. PTCs incorporate risk mitigation mechanisms such as minimum retention requirements and over-collateralization. However, there are still risks, including borrower defaults and potential impacts from the financial health of originators or servicers. PTCs have advantages over peer-to-peer lending in terms of diversification, risk mitigants, and ratings. They are complex instruments meant for sophisticated investors. from mint - money

IDBI Bank extends the validity of the special fixed deposit scheme until October 31, 2023 from mint - money

Gold ETFs in India saw the highest inflow of ₹1,028 crore in August, according to data from Amfi. Gold ETFs are seen as a safe investment option with excellent liquidity and are easy to trade on the stock market from mint - money

The bank deducts tax on interest as the mother doesn't have a PAN. Advised to file ITR to claim refund. Can file without PAN from mint - money

Bharti AXA Life launches New Fund Offering - Emerging Equity Fund, their first mid-cap fund. from mint - money

Fintech companies like Niyo Solutions are offering debit and credit cards in partnership with banks to provide a superior online banking experience. from mint - money

Since, the amount of claim is only ₹2 lakh, you can file a complaint with the district consumer disputes redressal forum. from mint - money

Volatility implies that prices correct and rise, rapidly and erratically due to a variety of reasons, ranging from investor sentiments to domestic indicators to global causes and liquidity from mint - money

PPF account offers tax benefits and a 7.1% interest rate. By extending the account, one can accumulate over ₹1 crore in 25 years from mint - money

Buying property on EMI for rental income can be a viable investment if carefully planned and researched. Consider financial stability, rental yield, property type, and tax implications. Seek guidance from a real estate specialist from mint - money

The notoriously media-shy investor opened up about his investment style and journey at a recent seminar from mint - money

Equity markets reach all-time highs, experts advise MF investors to continue with SIPs and focus on long-term goals from mint - money

The subscription for the latest tranche of sovereign gold bonds ends today, with an issue price of ₹5,923 per gram. Online subscribers will receive a ₹50 per gram discount if they pay through digital mode from mint - money

Last day to pay second installment of advance tax for FY 2023-2024. Penalty interest for late payment applies from mint - money

Remittances under LRS are allowed only in respect of permissible capital or current account transactions or a combination of both. from mint - money

Sovereign Gold Bonds (SGBs) offer assured returns, no storage hassles, no capital gains tax, can be used as collaterals for loans, and have no GST or making charges from mint - money

Mutual Funds vs Real Estate: Investors should consider risk tolerance, financial targets, and income tax benefits when deciding between mutual funds and real estate from mint - money

Long-term investing is not just about compounding but also plays a pivotal role in managing risk and mitigating potential downsides. from mint - money

The new tax regime is the default tax regime for FY 2023-24 onwards and deductions under Chapter VI A i.e. 80C, 80D, etc. will not be available under the new tax regime. from mint - money

Equity mutual funds in India saw inflows of ₹20,245 crore ($2.78 billion) in August, driven by a strong stock market performance. Experts advise rebalancing portfolios and increasing exposure to large-cap fundsun from mint - money

A new rule from 1 October 2023 levies a 20% tax on all transactions made abroad, increasing expenses for international travelers from mint - money

Sovereign Gold Bond Scheme: SBI offers an online option to buy gold bonds with assured returns, no storage hassles, and other benefits. from mint - money

State-owned Bank of Baroda (BoB) has launched a festival offer with attractive interest rates on various loans and new savings accounts. The festival campaign will run until December 31, 2023 from mint - money

Ravi Handa, Karan Datta, Sandeep Agarwal, and Vijay Tangirala are among the few individuals who have achieved financial independence and retired early. They share their experiences and strategies for managing their finances post-retirement, including withdrawal plans and investment portfolios. Handa follows a three-bucket approach, Datta relies on his financial advisor, Agarwal focuses on conservative fixed-income instruments, and Tangirala relies on passive income and freelance work. from mint - money

Shareholders, especially public shareholders, inevitably have to depend on the disclosures made by entities to the bourses. from mint - money

The hottest trend in finance offers more than just fat profits for advisers from mint - money

NCMCs are essentially contactless cards that can be used for multiple modes of transport but challenges abound. from mint - money

Sovereign gold bond price has been fixed at ₹5,923 per gm whereas there is ₹50 discount for online applicants from mint - money

When it comes to maximizing your joy and fulfilment, not all areas where you spend are created equal. from mint - money

Shares having a higher borrowing demand can be traded on the exchanges via SLB mechanism for a lending fee. from mint - money

Sovereign gold bond price for September 2023 tranche has been fixed at ₹5,923 per 10 gm from mint - money

There are Nifty Midcap 150 ETFs offered by Mirae Mutual Fund (MF), ICICI Prudential MF, HDFC MF and UTI MF at present. from mint - money

Obtaining a term insurance policy can be difficult for individuals with chronic illnesses, as insurers consider them high-risk. Some insurers may reject proposals or demand high premiums. Bajaj Allianz Life Insurance has launched a diabetes-specific term plan, but the industry needs to develop more options for people with chronic diseases. In high-risk cases, group insurance plans or negotiations with insurers through trusted advisors may be options. It is still important for individuals to buy term plans early in life when they are healthy. from mint - money

A good estate plan will ensure that this transition is a smooth one and the family’s needs are taken can care of. from mint - money

UPI ATM: Users can withdraw cash by scanning a QR code with a UPI app from mint - money

Taxability of alimony payments in divorce: Recurring payments may be taxed, while one-time payments may not be taxed from mint - money

Brokers in India are reluctant to allow investors to link their trading accounts with demat accounts held at other brokerages due to various challenges and risks involved. Lack of interoperability and standardization, shorter settlement times, and potential errors in the trading process are some of the reasons cited. Some brokers offer the option of linking a different demat account but restrict its use for buying and selling securities directly. Investors have the option of offline or online transfers for managing their demat accounts, each with its own advantages and costs. Online transfers through select brokers or through CDSL/NSDL provide simplicity and speed but have certain limitations. There is a need for standardized and cost-effective online inter-depository transfers to enhance customer convenience. from mint - money

No capital gains exemption for home loan repayment. Exemption for new house purchase within one year of selling existing house from mint - money

India's first UPI-ATM enables QR-based UPI cash withdrawals. It is accessible to UPI users with a UPI app installed on their Android or iOS devices, as well as payment service providers and issuer banks that have integrated the feature from mint - money

Two financial giants look likely to crush the competition from mint - money

SBI offers up to 65 bps discount on home loans until 31 December 2023 based on CIBIL score from mint - money

Finance Minister, Nirmala Sitharaman, highlighted the growth of India's financial ecosystem at the Global Fintech Fest 2023 in Mumbai. She noted the increase in Demat accounts and mutual funds, with cities beyond the top 30 contributing significantly to the financial ecosystem from mint - money

The Income Tax Department mistakenly sent notices to taxpayers for wrongly claiming deductions under Section 80P from mint - money

Sending $10,000 as a gift to a daughter studying abroad has no tax implications for both the sender and recipient from mint - money

‘UTI CEO shares lessons from 20 years in stock market, calls it his teacher’ from mint - money

Clearing corporations, also known as central clearing counterparties (CCPs), clear and settle trades in securities carried out on stock exchanges. from mint - money

Four brides-to-be chalk out their strategies aimed at cutting costs on food, attire, photography and venues. from mint - money

A ‘search’ action is considered an extreme measure of tax administration and its legislative mandate is given in section 132 of the Act. from mint - money

Lower rents and deposits, fewer restrictions and networking opportunities make co-living an attractive option. from mint - money

ICICI Bank and PNB hike MCLR rates by 5 bps, making EMIs linked to MCLR more expensive from mint - money

Investment tips: Investors should adjust their portfolios based on their age, reducing exposure to risk as they get older from mint - money

Investors must submit their Aadhaar number by the end of September or risk having their investments in small savings schemes like PPF, SSY frozen from mint - money

RBI details premature redemption dates for Sovereign Gold Bonds (SGBs) from October 2023 to March 2024 from mint - money

Rent-free accommodation provided by employers to employees will now be taxed at a reduced rate, resulting in increased take-home salaries. The new rule is effective from September 1, 2023 from mint - money

Index investing in large-cap mutual funds is a simple and cost-effective strategy for retail investors. It offers stable returns and lower risk from mint - money