Posted On : 28-Jun-2023
Reference : ET Wealth
WHY YOU SHOULD AVOID INVESTING IN MICRO CAP MUTUAL FUND SCHEMES
These funds may offer higher returns compared to small-cap funds but are also far more volatile.
News and Updates
Keep yourself updated with the latest financial news and updates.
Posted On : 12-Jun-2023
Reference : ET Wealth
WILL YOUR ‘GIFT’ BE TAXED?
Monetary gifts or property received under a will or by way of inheritance is not taxable. This will also hold in case someone bequeaths such a gift in contemplation of death (who is terminally ill and expects to die shortly from illness).
Posted On : 10-Jun-2023
Reference : Mid Day
MUMBAI: TAC QUASHES HOPES OF 130 MEMBERS OF MALAD SOCIETY
In a major setback to 130 members of the Ujjwal Nandadeep CHS in Malad, the technical advisory committee (TAC) has declared that all 13 wings of the society are in the C1 category (dilapidated/not fit for occupancy). While those favouring the redevelopment have welcomed the move, members opposing the C1 notice have now decided to challenge the TAC decision in the high court.
Posted On : 06-Jun-2023
Reference : ET Wealth
IS REAL ESTATE A HIGH OR LOW RISK INVESTMENT?
Many people invest in equities and debt products on the basis of their risk-taking ability. Also, those who buy a house (constructed or fully constructed house) are not sure if their real estate investment must be considered a high-risk or low-risk investment. Here is how you can know about it.
Posted On : 06-Jun-2023
Reference : ET Wealth
SENDING MONEY ABROAD FOR EDUCATION? PAY 20% TCS FROM JULY 1 IF YOU DON'T DO THIS
Budget 2023 raised the Tax Collection at Source (TCS) rate for foreign remittances under the Liberalised Remittance Scheme (LRS) from 5 percent to 20 percent for select transactions. The new rates of TCS will kick in from July 1, 2023. Let's understand how the new TCS rule will impact students who are already studying in foreign universities and schools or are planning to study abroad soon.
Posted On : 06-Jun-2023
Reference : ET Wealth
HIGHER BANK FD INTEREST RATES MAY END SOON WITH WITHDRAWAL OF RS 2000 NOTE; YOUR LAST CHANCE TO GET PEAK RATES
Going by the previous experience of demonetization of Rs 500 and Rs 1000 notes in 2016, banks are expected to get a good amount of deposits in the banking system for a considerable period. As an unintended consequence of this withdrawal, FD investors may soon have to brace for the reversal of the cycle of interest rate hikes. It may be the best time to book FDs.
Posted On : 06-Jun-2023
Reference : ET Wealth
THE NPS ADVANTAGE: ARE YOU MISSING IT?
The pension scheme offers loads of benefits to subscribers. Find out why you should not let this opportunity pass.
Posted On : 06-Jun-2023
Reference : The Economic Times
CAN INDIANS HAVE DUAL CITIZENSHIP? HERE'S THE FINE PRINT
You may have dual nationality by automatic operation of different laws rather than by choice. For example, a child born in a foreign country to U.S. national parents may be both a U.S. national and a national of the country of birth.
Posted On : 21-May-2023
Reference : ET Wealth
WHAT IS LRS AND WHICH TRANSACTIONS COME UNDER IT? GOVT'S FAQS ON 20% TCS ON INTERNATIONAL CREDIT CARD SPENDS
On May 16, 2023, the Ministry of Finance issued a notification mentioning to omit rule 7 of the Foreign Exchange Management (Current Account Transactions) Rules, 2000, with immediate effect. Now the Ministry of Finance released Part B of Frequently Asked Questions (FAQs) on May 18, mentioning the details of foreign remittance through the Liberalised Remittance Scheme (LRS).
Posted On : 21-May-2023
Reference : ET Wealth
NO TCS ON DEBIT CARD, CREDIT CARD FOREX PAYMENTS OF UP TO RS 7 LAKH FROM JULY 1, 2023: GOVT
The Ministry of Finance on Friday, May 19, clarified that no TCS will be levied on individual payments using international debit and credit cards of up to Rs 7 lakh in a financial year from July 1, 2023.
Posted On : 17-May-2023
Reference : Money Control
MC EXPLAINER: CAN HOMEBUYERS IN MUMBAI LEGALLY CONVERT TWO APARTMENTS INTO JODI APARTMENTS OR DUPLEX?
Yes, they can, provided proper permission is taken from the BMC by submitting revised plans during construction.
Posted On : 17-May-2023
Reference : ET Wealth
HDFC-HDFC BANK MERGER: WHAT WILL CHANGE FOR HDFC HOME LOAN BORROWERS? WILL HOME LOAN INTEREST RATES GO DOWN?
HDFC Bank, India's largest private sector lender is expected to complete its merger with its parent, Housing Development Finance Corporation Ltd (HDFC), by July this year. Now, the question is how this merger will impact borrowers. ET Wealth decodes how home loan borrowers of HDFC are likely to be impacted once the merger is done.
Posted On : 28-Apr-2023
Reference : ET Wealth
NOW YOU CAN'T GET SECTION 80G TAX DEDUCTION WITHOUT THIS TDS-LIKE CERTIFICATE FROM INCOME TAX PORTAL
Till FY 2020-21, an individual can claim the donation on the basis of the donation receipts at the time of filing an income tax return (ITR). However, from FY 2021-22 onwards, the donation can be claimed only if an individual enters donation certificate details in the income tax return form. Without the certificate, an individual cannot claim a Section 80G deduction.
Posted On : 28-Apr-2023
Reference : ET Wealth
WORRIED ABOUT SAFETY OF YOUR FIXED DEPOSIT IN A SMALL FINANCE BANK? HERE ARE THE 11 WAYS TO CHECK HOW SAFE THE BANK IS
The higher interest rate available on fixed deposits of small finance banks has attracted many depositors however they are always worried about the safety of their hard-earned money. While all these banks are under the regulation of RBI however that does not give any guarantee of safety. It is better for depositors especially those who are depositing higher amounts to check the safety aspects thoroughly before investing.
Posted On : 28-Apr-2023
Reference : Money Control
NEW TAX REGIME VS OLD TAX REGIME - DEDUCTIONS AND EXEMPTIONS ALLOWED UNDER BOTH THE REGIMES
You can claim a deduction for home loan interest, but only on a rented property, and not as much as under the old regime. Gratuity is tax-exempt up to Rs 20 lakh and leaves encashment up to Rs 25 lakh for non-government employees under the new and the old tax regimes.
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