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Earlier, employees’ provident fund (EPF) subscribers were supposed to submit a joint declaration form after getting it signed by the employer. But not anymore! They can fill the form and submit it online from mint - money

The top-performing value mutual funds include HSBC Value Fund, JM Value Fund and Nippon India Value Fund. from mint - money

When preparing for your child's future, the 18x15x12 formula can be a useful starting point. However, you should be aware of its drawbacks and possible risks before depending on it to make them a billionaire by the time they turn 18. from mint - money

RBI regulations state that card issuers must obtain the express prior consent of the customer to provide a credit card; they are not permitted to send out unsolicited credit cards. from mint - money

The need to upload an attested bank passbook and a photo of a cheque leaf has been loosened by EPFO. This tactic will lower rejection rates and speed up online claim settlement. from mint - money

Post office deposits: Explore Post Office Savings Schemes that offer attractive interest rates but no Section 80C tax benefits from mint - money

Aadhaar-PAN link: Income Tax Department guides on linking Aadhaar with PAN to avoid higher TDS rates from mint - money

Personal loan interest rates can sometimes be negotiable, but this depends on several factors. from mint - money

Securing approval for a personal loan relies on demonstrating to lenders that you're a dependable borrower capable of responsibly repaying the loan. from mint - money

Investing in gold bullion provides security against inflation and economic downturns. It offers liquidity and emotional value, making it a versatile addition to investment portfolios. Diversification, staying informed, and proper storage are crucial for successful gold investments. from mint - money

Home loan prepayment is a crucial decision for many. Making prepayments at different times can have a significant impact on reducing total interest and loan tenure. The earlier the prepayment is made, the greater the savings. from mint - money

Investing in the S&P BSE 500 index provides exposure to a wide range of stocks across market capitalization segments. It represents nearly 90% of the overall market capitalization and offers diversification with large, mid, and small-cap stocks from various sectors. from mint - money

Indeed, the ideal repayment period for your personal loan will change based on your goals, income, and financial situation. You need to consider these factors before choosing the best payback term for you. from mint - money

Most major banks offer home loans with an overdraft facility, which allow you use surplus cash to reduce the interest you pay. But such a loan may not be the right choice for everyone. from mint - money

Neil Borate in Mint’s new show explains why adding nominees is so important from mint - money

One of the simplest ways to overcome such a difficulty is to request your mother to make a will for her assets including the assets purchased by you to overcome any ambiguity and the need for an NOC from your sister. from mint - money

Many organizations and recruiters are outrightly misrepresenting the CTCs offered to their prospective employees from mint - money

Understand the importance of early tax planning to maximize tax savings and minimize tax liability. Decide on the beneficial tax regime based on your tax situation and explore different tax-saving options to reduce taxable income effectively. from mint - money

Financial freedom is not about a predefined sum of money or absolute time freedom. It's not equivalent to being rich or done with financial responsibilities. True financial freedom is having control over choices without being bound by financial constraints or societal norms. from mint - money

The latest stress test revealed that mutual fund houses will require anywhere between 1 to 54 days to liquidate half (i.e., 50 percent) of their portfolio in small cap schemes. The data showed that the liquidity has declined in some small cap schemes in the past one month from mint - money

Scamsters make the gullible victims join a social media group where most members were reportedly bragging about the high returns they had earned. This induced the victim into investing a large sum of money. from mint - money

The National Pension System (NPS) is crucial for tax-saving and retirement planning for the middle class. Insights include focusing on tax benefits, avoiding Tier II Account, and utilizing available tax deductions effectively. from mint - money

Large purchases can be effectively financed with personal loans, but before choosing a course of action, carefully weigh the advantages and disadvantages. from mint - money

Non-convertible debentures are fixed-income instruments, issued by companies in the form of a public issue to accumulate long-term capital appreciation. Investors can choose different tenures of investment which could be 24 months, 36 months, 60 months, 84 months and 120 months. from mint - money

Selecting the ideal personal loan provider is essential for a straightforward and economical borrowing process. from mint - money

Maternity insurance is becoming essential for families, covering costs from pregnancy to postnatal care. This investment ensures financial security for families amidst rising healthcare costs. from mint - money

The new EPFO rules are tailored to address cases where a deceased member's information in the EPFO's UAN system (their provident fund account details) is accurate, but their Aadhaar data in the UID database is incorrect or missing altogether. from mint - money

Arguments for caps on income and wealth are simple, rousing and wrong from mint - money

Missing payments on personal loans can be quite troublesome. Late payment fees are the most common consequences of missing a personal loan payment. from mint - money

NPS users can customize their asset allocation and investment strategies according to their risk tolerance and investment goals. from mint - money

Buying a home in your 40s in India can be a good investment for your future if you evaluate all of the important considerations and plan wisely. from mint - money

Once in power, politicians are unlikely to take actions that could jeopardize their chances of re-election. So, there’s no need to lose sleep over or be swayed by public opinion on the outcome of an election from mint - money

Emergency funds are essential, with 6 months' expenses suggested. Credit cards can offer short-term liquidity but should not replace a dedicated emergency fund. Prioritize building an emergency fund, especially if long-term investments or loan prepayments are in focus. from mint - money

For NRIs married to foreign nationals, understanding the implications of their overseas nuptials on succession rights in India can be as complex as it is crucial. from mint - money

The interest rates on car loans in 2024 can greatly influence your monthly EMIs, making it essential to find the best deal possible. If you have a strong credit score, you may secure a more favourable interest rate. Check out the latest car loan interest rates offered by top banks this year. from mint - money

It is necessary to determine whether your share of LLP profit (though exempt) is also to be included towards computing the Indian income from mint - money

EPFO Update: The Employees' Provident Fund Organisation allows processing physical claims without seeding Aadhaar in death cases, contingent upon OIC approval and proper verification procedures to prevent fraudulent withdrawals from mint - money

The lowest return of 4 percent is delivered by Post office savings account and the maximum of 8.2 percent is given by Sukanya Samriddhi Account as well as by Senior citizen savings scheme. from mint - money

After burning his fingers in direct stock investments after the 2008 financial crisis, Arunava Guin turned to mutual fund SIPs from mint - money

Mutual fund units qualify as capital assets, and any capital gains made on their transfer will be considered as having accrued or arisen in India and are hence taxable in the country, even if you qualify as an NR in India. from mint - money

In 2023, India witnessed notable changes in its financial sector, particularly in borrowing patterns. Young consumers are increasingly opting for flexible credit products like personal loans and credit cards. from mint - money

EPFO has released a circular detailing the settlement of physical claims in death cases. The numerous cases mentioned by the EPFO include a) Where incorrect member details are given in aadhaar, b) Unavailability of aadhaar in respect of pre-aadhaar death cases, c) Aadhaar got deactivated, d) others from mint - money

Sebi held consultations with the industry representatives from AMFI and various AMCs, and has now proposed that mutual fund schemes may invest in such overseas mutual funds which have exposure to Indian securities not more than 20 percent of their net assets from mint - money

Explore the extravagant lives of Korea's super-rich, their lavish spending on designer items, and the hollowness of their displays of wealth. Follow the stories of individuals like David Yong and Aren Yoo, reflecting on the consequences of flaunting wealth and the importance of discretion. from mint - money

SBI Automotive Opportunities Fund is a thematic mutual fund that aims to generate long-term capital appreciation for unit holders by investing in a portfolio of companies engaged in automotive and allied activities. The scheme opened for subscription on May 17 and will close on May 31. from mint - money

From time to time, Sebi has released circulars to make a set of rules which govern the criteria for credit rating agencies. The regulator has now released a master circular to enable the investors to have access to all the directions at one place. from mint - money

One way to check the authenticity of notice sent by the tax department is to cross check the email ID from where it is sent. Alternatively, you can authenticate the veracity of notice by visiting the tax department website. from mint - money

Investors should focus on long-term financial goals by continuing with the same index in a Systematic Investment Plan (SIP) rather than switching annually to the best-performing index of the previous year, as revealed by a study from WhiteOak Capital Mutual Fund. from mint - money

Retirement goals are among the most important since the accumulated money is consumed over years and the post-retirement stage for most is quite long. from mint - money

SBI offers home loans in the range of 9.15 percent to 9.65 percent based on the CIBIL score. The higher the score, the lower the interest rate. When the CIBIL score is above 750, the bank charges 9.15 percent and when the score is between 550 to 649, the bank gives loan at 9.65 percent from mint - money

Investors can take exposure to gold via ETFs and Sovereign Gold Bonds. Gold should be viewed as a diversification tool in a portfolio, not for high returns. Central banks' strong demand for gold has surged prices, with majority purchases from emerging markets. from mint - money

SCSS, POMIS, and FRSBs are low-risk options for seniors seeking regular income. SCSS offers 8.2%, POMIS 7.4%, and FRSBs 8.05% interest annually. Combining investments in all three can yield a monthly income of approximately ₹52,000, with room to grow using FRSBs. from mint - money

Income tax return filing deadline of July 31 is exactly 75 days from now. The tax department has already released the requisite forms. You can check the form that is applicable in your case, and you can then start the process to avoid the last-minute glitches from mint - money

The IT department has been issuing a flurry of tax notices to NRIs who sold property in India in the past and did not pay capital gains tax or failed to file an ITR to report the sale from mint - money

Warren Buffett suggests investors to do their own research. He likes to do analysis on his own by reading all financial statements. The stock he buys, he does not want to sell often. He said that you should buy companies which even a fool can run because someday a fool will from mint - money

A ‘personal effect’ is a movable property held by a taxpayer for their or a dependent family member’s personal use, and can include items like apparel and furniture from mint - money

Most banks tend to offer higher rates of interest on long duration fixed deposits. The top banks listed here give interest in the range of 6.5 to 7.5 percent per annum. from mint - money

To create future wealth, prioritize saving over spending by making it a habit. Savings bridge the gap between current financial well-being and future security, catering to emergencies and luxuries. Tracking expenses and budgeting can aid in increasing savings for a prosperous future. from mint - money

Tax filing can be complex, leading to costly errors. Seek advice from a seasoned CA to avoid common mistakes like selecting the wrong form, handling F&O transactions and more. from mint - money

In a directive dated 29 April, the central bank noted three unfair practices with respect to interest on loans that banks need to stop from mint - money

Using personal loans for medical expenses is a choice that demands thoughtful deliberation. This is because personal loans can present both advantages and drawbacks when used for medical purposes. from mint - money

As personal loans are typically unsecured, there's no need to release any assets from lien or hypothecation. Your personal loan will automatically close once the bank receives the required funds. from mint - money

Repaying top-up home loans promptly is important, and it's wise to be cautious about overleveraging. Consider opting for these loans only when you need extra funds for essential purposes like renovations; otherwise, it's best to avoid them. from mint - money

For working mothers, term insurance holds paramount importance in safeguarding the future well-being of their loved ones. It acts as a safety net, ensuring that in the absence of the primary breadwinner, the family's financial needs are adequately met. from mint - money

As Mother's Day nears, it's crucial to acknowledge the unsung heroes balancing care for children and ageing parents. from mint - money

Consider giving your mother a financial gift this Mother's Day to empower her financially and provide long-term security. Options include opening a savings account, starting a fixed deposit, investing in gold mutual funds, or building a retirement fund through SIPs. from mint - money

Income tax return filing 2024: Taxpayers need to declare the interest credited in their savings bank account for the year while filing their ITR from mint - money

Social media vulnerability highlighted through real-life scams involving promises of work opportunities and fake identities. Lessons learned from Hollywood Con Queen and Wedding.con series on Apple TV+ and Amazon Prime Video. from mint - money

Agri-investment platforms offer tax-free income through investments in agriculture. Retail investors can start with as low as ₹5,000, diversify their portfolio, and earn significant returns. However, risks include unpredictable profits, weather uncertainties, and lack of regulation by SEBI or RBI. from mint - money

You can nominate family members such as parents, spouse, or children, or other individuals. If you choose to nominate a minor, you must also provide the details of their guardian. from mint - money

Home loan overdraft facility offers flexibility and potential interest savings by allowing prepayment towards the principal. However, it may lead to elevated interest rates, risk of overspending, loss of interest income, and is not suitable for everyone. from mint - money

Akshaya Tritiya, a festival of prosperity and success, is evolving into a day for forward-thinking investments, especially in real estate. Fractional ownership of commercial properties is becoming popular, offering accessibility, diversification, and higher returns for investors. from mint - money

In all practicality, investors looking to compound their wealth are better off with mid- and small-cap stocks over a longer period. Large-caps help protect your capital, but mid- and small-cap stocks help compound it greater. from mint - money

Akshaya Tritiya 2024, a significant day for gold buying in India, falls on May 10. Buying gold on this auspicious day is believed to bring prosperity. Experts suggest gold investment as a hedge against inflation and economic uncertainty, emphasising its cultural and financial significance. from mint - money

Investing in startups/unlisted shares poses high risks due to limited regulation and oversight. Options include direct investment, purchasing pre-IPO shares, acquiring ESOPs, or investing in professionally managed portfolios for diversification and insight into firms. from mint - money

The master circular stipulates all the details ranging from registration to responsibilities, transfer related matters, investor grievance redressal, investor charter and other guidelines from mint - money

Income tax benefits on home loans: Tax deduction for first-time buyers, benefits for women borrowers — how do we use these tax deductions to the fullest? Read all about it here. from mint - money

Electronic voting allows shareholders to cast votes electronically, increasing convenience and reducing costs. Shareholders receive notification of proposed resolutions and can cast their votes through their demat accounts. The results are tabulated and announced during the meeting. from mint - money

Top-up home loans allow borrowers to borrow additional funds on top of their existing home loan, with competitive rates and potential cost savings from mint - money

Trusts in India can open demat accounts for streamlined investment management. The process includes selecting a DP, submitting required documentation, signing an agreement, verification, and account activation. Demat accounts offer convenience, safety, and efficiency in handling securities. from mint - money

Choosing the appropriate payment plan for your personal loan is essential. It’s important to select a payment plan that matches your financial circumstances and objectives. from mint - money

The 3-bucket retirement strategy involves appropriating the retirement fund in 3 buckets: liquidity, safety, and wealth creation. from mint - money

Gifted money does not directly affect your CIBIL score as it depends on your credit behaviour and financial management. But here's how you can use this money to improve your score indirectly. from mint - money

Although divorce itself does not impact your credit score, or CIBIL score, credit behaviour and financial management, such as your payment history, credit utilisation, types of credit accounts, and credit inquiries, among others, may have an effect on the score. from mint - money

While there is growing echoes and concern about individual allocation to mid and smallcaps, there is also enough interest to allocate money in these segments together due to return potential. from mint - money

One of the latest ways to take investors for a ride is through ‘fake messages’. A random person claiming to know someone close to you will call you to ask for your UPI details so that s/he can send the money. A fake message later, they will ask you to send some if the excess money back. from mint - money

Chandan, a contrarian investor, says he waits for right overreaction from market participants from mint - money

When FOMO takes over, investors often make decisions that prioritize immediate excitement over long-term financial health. from mint - money

There is no restriction on the number of houses a person can own under the provisions of the Income Tax Act. Likewise, there is no restriction on the number of houses a person can avail of the tax benefits for a home loan from mint - money

SEBI's move to reduce the face value of debt securities from ₹1 lakh to ₹10,000 has made bonds more accessible to retail investors, potentially increasing their involvement in the corporate bond market and improving liquidity. from mint - money

The income tax (I-T) department has released the excel utility of ITR-6 for AY 2024-25. Prior to this, the department enabled the excel utility of ITR-1, ITR-2 and ITR-4 for AY 2024-25. from mint - money

The film ‘The Fall Guy’ features non-stop action and witty repartee, paying homage to unsung heroes who perform stunts. It also highlights the importance of giving credit to those who support your financial journey. from mint - money

Credit counselling entails a number of sessions where you receive guidance on managing your finances, creating a budget, and developing strategies to repay debt. Putting this advice in practice can lead to better financial habits, which may eventually improve your credit score. from mint - money

Personal loans are becoming more attainable, user-friendly, and customized to suit individual requirements. Furthermore, in areas such as India, the utilization of data analytics for credit evaluation and a concentration on simplified loan solutions in rural sectors are burgeoning trends. from mint - money

Although using a personal loan to settle your student loans may seem feasible, many lenders might reject your application if they discover that the loan will be utilized for this specific purpose. from mint - money

The IPL season provides valuable insights for investors, adding an extra dimension of excitement to watching the matches. from mint - money

Some ways of using your annual bonus include treating yourself, repaying high-cost debt, emergency fund, upgrading skills, tax planning, financial goals, home loan prepayment, etc. from mint - money

Your plan to step up the SIPs every year to build a downpayment corpus is good as you would have been able to reach around ₹44-48 lakh with the present monthly investment of ₹40,000 per month for the next 6 years, if we assume an annual return of 10-12%. from mint - money

It is still early days in India for passive funds, but without doubt, there is a growing interest. from mint - money

Balpreet Singh's family opted for structured financial planning under the guidance of a fee-only RIA. from mint - money

A senior citizen can submit form No. 15 H if the total tax on her income is nil from mint - money