Now, more pieces of information about your transactions and income, such as remittances received from overseas, will be uploaded in Form 26AS by the income-tax (I-T) department. This will help the taxpayer file I-T return (ITR) correctly and assist the department in detecting discrepancies, if any, in the ITR. Besides foreign remittances, these new items are interest on I-T refund, dividend from mutual funds (MFs), and purchase of MFs, among others.
The value of unclaimed securities and other assets was nearly Rs 20,000 crore in March 2020.
The new fund, which is different from gold exchange traded funds that require subscribers to have a demat account, will also offer investors the option to invest as little as Rs 100 per month, the company said in Mumbai.
'It could tempt investors to pick stocks that are not fundamentally sound.'
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
Priya Nair finds out how investors of mutual funds, shares, unclaimed bank deposits, insurance policies can redeem long-forgotten investments.
A monthly charge of Rs 500 is applicable if the net relationship value falls below the minimum level.
Be mindful that each instrument is governed by a different set of gifting rules and is also taxed differently.
Siddhivinayak Temple has opened a demat account to accept donations in the form of 'shares and securities' from devotees.
ETFs may be an option if you are considering only large-cap funds, experts tell Tinesh Bhasin.
Will 2022 be a year of contrasting narratives -- one filled with caution and the other with continued optimism?
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Ajit Mishra answers reader queries on the stock market.
Each financial product is governed by a different regulator and the rules for gifting vary, points out Tinesh Bhasin.
Union Finance Minister Nirmala Sitharaman on Friday said the Indian economy is on a sustained path of revival and cited rise in GST collections and direct taxes to support her assertion. She further said that the confidence in the Indian stock market is growing as retail and small investors are keenly investing money in the share market. She was addressing the media in New Delhi.
GSR 592(E) states that all NRIs -- including PIO like your son -- are not eligible to open PPF accounts. The accounts opened prior to all these dates are allowed to run up to their maturity but no extension or renewal can be made.
Insurance company will bear the cost of digitising. It will in turn benefit from lower expenses on servicing policies.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
If one compares returns, the two public-sector ETFs have done better over the past year, but the ELSS category has done better over the trailing three and five years.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries
One of the biggest advantages of index funds and ETFs is their low cost, points out Sarbajeet K Sen.
Permanent Account Number (PAN) has become a very important tool to the Income Tax Department in tracking high value transactions and ensuring compliance with the tax laws. Here's a how and why you should get it.
'There is a huge tax differential of 15% to 20% depending on income classification.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Instead of getting swayed by market gyrations, investors must stay invested for the long term, advises Sarbajeet K Sen.
Jimmy Patel, MD & CEO, Quantum Mutual Fund, suggests some valuable financial gifts for your children.
Do you have parents who have turned 60? You may want to forward Sarbajeet K Sen's suggestions to them.
'In the overall global portfolio, India's weighting has come down in the past seven months.'
Whatever you do, continue to pay your loan EMIs and insurance premiums for term and health policies (not investment-based policies) on time. Then try to buy yourself some breathing space, says Harsh Roongta.
The online world is driven by convenience, simplicity and speed.
Irdai's push will make insurance cheaper for consumers and enable a consolidated view of all policies.
Proper documentation can help take half the pain out of filing your income tax return, says Amar Pandit.
Sanjay Kumar Singh suggests key factors investors need to keep an eye on while choosing the direct investment route.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Zee and its lenders had decided to enter into an agreement to not offload the pledged shares amid a sharp slide in the prices of the underlying securities during end-Janury. The terms give the lenders a greater say, upside benefit from the proposed strategic sale, more cover and personal guarantee.
In a bid to make primary markets more efficient, the Securities and Exchange Board of India on Saturday said listing time gap would be reduced further from 6 days after the IPO currently, while listing will be allowed for security receipts issued by asset reconstruction company.
As if wanting to be an antidote to the coronavirus pandemic, the Indian stock market adorned carnival robes in 2021 with a tsunami of liquidity unleashed by global central banks coupled with supportive domestic policies and the world's largest vaccination drive sparking off a world-beating rally on Dalal Street, despite bouts of uneasiness over fizzy valuations. While the wider economy shuttled between recovery and relapse, dictated by multiple mutations of the virus, equity market benchmarks appeared headed in just one direction -- skywards. The dizzying upward journey has added a whopping Rs 72 lakh crore during 2021 to investors' wealth, measured as the cumulative value of all listed shares in the country, taking it to nearly Rs 260 lakh crore.
