News and Updates

Keep yourself updated with the latest financial news and updates.

Posted On : 28-Feb-2024

Reference : ET Wealth

IS FLEXI LOAN OR DROPLINE OVERDRAFT BETTER THAN A PERSONAL LOAN AND CONVENTIONAL OVERDRAFT?

Credit line in the form of an overdraft is preferred by many people as it gives them the flexibility to repay at their convenience and keep the interest cost low as they pay only on the outstanding amount. A new version of this loan is now being offered by many lenders which is called a dropline overdraft or a flexi loan. Before going for it you must know if it is better than a personal loan or conventional overdraft.

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Posted On : 09-Feb-2024

Reference : ET Wealth

RENTING A FURNISHED HOUSE; WILL A SEPARATE RENT AGREEMENT FOR FIXTURES HELP IN SAVING TAXES?

House rent: A landlord might be inclined to charge a higher rental for his/her furnished flat as tenants prefer to stay hassle-free and in a homely environment with all the amenities. Experts suggest that a landlord create two separate rent agreement-one for the house rent and another for the rent for furnishings- bed, geyser, mattress, etc.

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Posted On : 09-Feb-2024

Reference : ET Wealth

No More Hidden Charges By Banks, Nbfcs To All Borrowers As Rbi Makes Declaring Actual Interest Rate Mandatory

The actual interest rate on loans in Key Fact Statement: When a borrower takes a loan from a bank or NBFC, apart from the interest rate, the lender levies other charges as well such as documentation charges, processing fees etc. Now the lender is required to inform all the charges levied on the loan upfront to the prospective buyer. This announcement was made by the RBI governor today while announcing the monetary policy decisions.

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Posted On : 26-Dec-2023

Reference : The Economic Times

I-T USES FINE-TOOTH COMB TO NAB BOTH EMPLOYERS & EMPLOYEES FOR TDS-CLAIMS MISMATCH

The Income Tax (I-T) department is using a fine-tooth comb to nab discrepancies in the tax deducted at source, or TDS, by companies and the declarations by its employees in the annual I-T returns. What's underway is a line-wise reconciliation of the two sets of numbers under different heads - house rent allowance, medical insurance, outgo on home loans, tax saving investments under 80c etc.

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Posted On : 21-Dec-2023

Reference : ET Wealth

WILL INVESTING RS 1 LAKH EACH YEAR BE ENOUGH FOR YOUR FUTURE GOALS? HOW RULE OF 72, RULE OF 114 CAN HELP YOU

To understand the rule of 72 formula, you need to divide 72 by the expected annual rate of return. For example, say you invest Rs 1 lakh every year in an investment that earns 8% interest annually. Now if you divide 72 by 8, you will get 9 which gives you the number of years it will take for your money to double. So, your investment will grow to Rs 2 lakh in nine years.

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Posted On : 11-Nov-2023

Reference : ET Wealth

DHANTERAS 2023 GOLD BUYING: 21% RETURN OVER LAST YEAR, IS IT A GOOD TIME TO INVEST IN GOLD?

Buying gold on Dhanteras Day is something that many households in India hold very close to their heart. However, it is not only the auspicious nature of this activity which keeps people hooked to this tradition but it has also been a very well rewarded investment in the long run. Gold return over the long term has be quite attractive which adds reason to an emotional act. So should you invest now?

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Posted On : 18-Oct-2023

Reference : Livemint.com

MULTIBAGGER NBFC STOCK INCHES CLOSE TO LIFE-TIME HIGH. DO YOU OWN?

Multibagger stock today opened upside and went on to hit an intraday high of ₹87.10 apiece, which is just 4% away from lifetime high of ₹90.80 apiece levels.

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Posted On : 18-Oct-2023

Reference : ET Wealth

NEW 20% TCS RULE FROM OCTOBER 1, 2023: 4 TIPS TO BRING DOWN TCS TO ZERO DURING YOUR NEXT INTERNATIONAL TRIP

20% TCS on overseas tour package: When you book, offline or online, overseas tour packages, offline or online, of more than Rs 7 lakh in a financial year, you have to pay TCS at 20% from October 1, 2023. Is there any way to reduce this additional upfront cost? Here are a few tips which will help you lower your TCS burden while travelling abroad. Read on to find out.

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Posted On : 18-Oct-2023

Reference : ET Wealth

WANT TO BORROW MONEY? SMART TIPS TO GET THE BEST PERSONAL LOAN, HOME LOAN

ET Wealth looks at smart ways to borrow and offers tips to those planning to take a loan. We also tell you about the tricks that lenders use to lure customers. Here are some things to keep in mind while borrowing money.

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Posted On : 18-Oct-2023

Reference : Taxguru.in

CONSIDER AGREEMENT DATE FOR CAPITAL GAINS AND SECTION 54/54F EXEMPTION: SC

Introduction: In a significant ruling, the Supreme Court of India has provided clarity on the treatment of capital gains and Section 54/54F exemptions in the case of Sanjeev Lal and others versus the Commissioner of Income Tax (CIT). This judgment addresses the critical issue of the agreement date’s relevance in capital gains taxation and its impact on Section 54/54F exemptions.

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Posted On : 18-Oct-2023

Reference : The Economic Times

PAYING HOUSE RENT OF MORE THAN RS 50000 PER MONTH? PENALTY YOU WILL PAY FOR NOT DEDUCTING TDS

If an individual is liable to deduct TDS before making certain specified payments then it must be done at once. Otherwise, the consequences will be dire. Further after deducting and depositing the TDS, an individual must also file a TDS challan cum statement form too. Failure to do so might attract a penalty.

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Posted On : 18-Oct-2023

Reference : ET Wealth

WEALTH CREATION IS NOT A MAGIC, MAKE SURE IT HAPPENS BY METHOD

Wealth creation doesn't happen by chance but it needs a wealth-planned strategy. On this World Financial Planning Day, the importance of financial planning for wealth building needs to be emphasized. As the Indian economy grows from one milestone to another more and more people will need to take financial planning seriously to ensure their life goals are met without too much hassle.

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Posted On : 18-Oct-2023

Reference : The Economic Times

POLICYHOLDERS ARE INCREASINGLY TAKING INSURANCE COMPANIES TO CONSUMER COURT; COMPRISE 27% OF CASES IN 2022

Many policyholders are taking insurance companies to the consumer courts whenever their claim is rejected. Out of 5.78 lakh pending cases in consumer courts, more than 1.61 lakh are related to the insurance sector in 2022. This makes up 27% of the cases pending in consumer courts. The Department of Consumer Affairs suggested insurance companies implement certain measures to protect consumers' interests.

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Posted On : 18-Oct-2023

Reference : zeebiz.com

NON-TAXABLE INCOME: 5 DIFFERENT TYPES OF NON-TAXABLE INCOME THAT CAN HELP YOU TO SAVE INCOME TAX

Any income that is exempted from income tax is called non-taxable income. These earnings are completely excluded from the calculation of an individual’s total tax liability in a financial year.

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Posted On : 18-Oct-2023

Reference : Livemint.com

HOW BUYING A NEW HOME CAN SAVE YOU CAPITAL GAINS TAX ON SHARES, MUTUAL FUNDS

Long-term capital gains on shares, mutual funds, gold will be exempt from tax if used to purchase a residential property.

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