From time to time, you may get a message or email from your bank mentioning that you are eligible for an increase in the credit limit on your credit card. Some people who need a higher limit may accept the offer. Some people may ignore the message, thinking they are already using the credit card…
Investing requires unconditional discipline, razor-sharp consistency and oodles of patience. At the outset, however, one is meant to learn the ropes of investing. One should know, for example, the key difference between savings and investment, multiple investing options which one can choose from, how to achieve financial goals and how to do asset rebalancing. This teachers’ day 2024,…
I sold some shares during the current year on which I earned some Long Term Capital Gains (LTCG) and immediately invested the sale proceeds to buy a residential flat, say flat A, to claim exemption u/s 54 F in June 2024. I sold another of my flats before 23rd July 2024 (Not flat A) and…
For non-residents, two sets of legal frameworks apply to them. The first legal framework is provided under the Income Tax Act of 1961, which deals with taxing Non-Residents’ income. The other legal framework is provided under the FEMA (Foreign Exchange Management Act) 1999, which deals with investment avenues available to non-residents and banking transactions which…
The Ministry of Finance has issued updated guidelines for regularising irregular accounts across various National Small Savings Schemes. The guidelines cover a range of irregular accounts, including those under NSS-87, PPF for minors, and Sukanya Samriddhi schemes. All post offices and financial institutions must adhere to these new procedures to ensure proper compliance and efficiency….
But first, what’s a portfolio investment scheme? It’s an arrangement introduced by the Reserve Bank of India to enable NRIs to invest in the stocks of Indian companies, and allows for both repatriation and non-repatriation of profits. But there are differences in PIS and non-PIS accounts that you need to consider before deciding on one….
I’ve taken a two-year leave of absence from my job to travel and indulge in my interests. My revenue from mutual fund redemptions last year was ₹5.1 lakh; all of these were long-term holdings. The approximate long term capital gain was ₹2 lakh. Is there going to be any tax due this year, and if…
The central government on Wednesday, September 4, approved a proposal for a Centralised Pension Payment System (CPPS) for the Employees Pension Scheme (EPS), 1995. The move is expected to benefit more than 78 lakh people. The Centralised Pension Payment System will be an important shift by establishing a national-level centralised system that will allow pension…
Sending your child abroad for higher studies is no mean task, as it costs a lot. Today, affordable options like Ukraine, Russia, and China are under a cloud due to geopolitical reasons. Studying in the US and UK has always been costly, and other popular destinations like Canada, New Zealand, and Australia are increasing fees…
Let’s get real—you’re not going to work forever. At some point, the daily grind will become exhausting, and you’ll need more time for health and family. With life expectancy rising, you could easily be living into your 90s, which means 30 years without a paycheque. Now, factor in inflation, which could triple your current expenses….
