Did you know that an individual can, in addition to the tax benefits she/he is entitled to, also leverage the benefits available to family members to reduce this liability?
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
The strike call is over privatisation, mergers, and also due to write-off of corporate NPAs, criminalisation of willful default
'Even where we are now today, the growth rates are very good, but we need to get to 8-9 per cent growth in the years to come.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Gopalakrishna's name was in the reckoning for Deputy Governor in place of Anand Sinha who retired in January.
The sector seems set for a rally that may be somewhat temporary.
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
Retirement fund body EPFO on Monday is likely to retain 8.5 per cent interest on PF deposits for its over 5 crore subscribers in 2013-14.
It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'People try to repay the BIGGEST LOAN first. Actually, you should repay the most expensive loan first.'
'If a taxpayer opts for the new tax regime once, he can only switch back to the old tax regime once in his lifetime.'
Several changes were made to the new income-tax regime in Budget 2023. The old income-tax regime was not tinkered with and is still available.
'People tell us openly that in 2024 we will vote for Modi.'
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
PEs and VCs are taking a closer look at their bouquet of investments. Leading voices in the sector are categorical that cash-burn rates -- that's blowing up equity to acquire market share -- as a business model can't continue to be the polestar.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
The IPO-bound national insurer LIC is not only the largest holder of government debt -- owning 19 per cent of the G-secs -- but also the single largest owner of equities, the largest fund manger as well as holder of household savings, dwarfing even SBI deposits, as per a report. Holding 17 per cent of the over Rs 80.7 lakh crore dated government securities, maturing by 2061, the Reserve Bank is the second largest holder of government debt, while led by public sector banks, commercial banks collectively own around 40 percent. Other insurers cumulatively own only 5 per cent.
The recent run on the US-based Silicon Valley Bank (SVB) and the subsequent seizure of its assets by the regulators may have sparked a global wave of risk aversion, particularly for start-ups. However, the Indian banking sector is unlikely to be a victim of any contagion effects, said analysts. he bank, which played a big role in financing start-ups and technology players, faced stress after incurring huge losses on its holdings of US bonds, following the most-aggressive monetary tightening cycle by the Federal Reserve in around four decades.
The two IT majors -- Infosys and TCS -- delivered disappointing results for the fourth quarter of the 2022-23 financial year (Q4FY23). Poor macro conditions and weak sentiment in the banking, financial services and insurance (BFSI) space accounted for the miss. For TCS, revenue in constant currency (CC) terms grew at 0.6 per cent on a quarter-on-quarter (QoQ) basis. Weakness was visible in North America, primarily due to deferred discretionary spending.
"The PMJDY has been the foundation stone for the Modi government's people-centric economic initiatives. "Whether it is direct benefit transfers, Covid-19 financial assistance, PM-KISAN, increased wages under MGNREGA, life and health insurance cover, the first step was to provide every adult with a bank account, which PMJDY has nearly completed," Nirmala Sitharaman said on the sixth anniversary of the scheme.
The three year lock-in period enables ELSS fund managers to invest in high conviction stocks for a long period of time because of relatively less redemption pressure, says Dwaipayan Bose
KYC done while opening a bank account can be used to open a mutual fund account.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
Avoid investing in a new ELSS scheme each year. Stick to one well-chosen scheme to avoid clutter in your portfolio.
Prime Minister Narendra Modi owns assets worth over Rs 2.23 crore, mostly as bank deposits, but has no immovable properties as he has donated his share in a piece of land in Gandhinagar, according to his latest disclosure about assets.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
2023 could be another volatile year for Indian equity markets, according to BofA. In a report, the brokerage pointed out that the Nifty50, at present, is trading at 20.7x against its long-term average of 18.8x one-year forward earnings of current Nifty constituents. Plus, India is trading at a 98 per cent premium to its emerging market (EM) peers against its long-term average of 45 per cent.
Shashank Rai, 30, allegedly sought millions of dollars in forgivable loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act from two different banks by claiming to have 250 employees earning wages when, in fact, no employee worked for his alleged business.
The provisions in the FRDI bill do not modify current protections for depositors adversely at all, the ministry held, maintaining that these rather provide additional protections in a more transparent manner.
Improved credit profile may make you eligible to transfer your existing home loan to another lender at a much lower rate.
The first wave of COVID-19 last year impacted households as their financial savings moderated to 8.2 per cent of GDP in December quarter from 10.4 per cent in the previous three-month period, revealed an RBI data released on Wednesday. The preliminary estimate of household financial savings is placed at 8.2 per cent of GDP in October-December 2020-21, exhibiting a sequential moderation for the second consecutive quarter after having spiked in the pandemic-hit June quarter, RBI said in a release. "The moderation was driven by a significant weakening in the flow of household financial assets, which more than offset the moderation in the flow of household financial liabilities," it said.
If you are running a sweetmeat shop, will you manage a dairy for milk supply or buy milk from the market? Banks are running a dairy (which has its cost for processing milk), while NBFCs are buying milk from the market, observes Tamal Bandyopadhyay.
Do not go for riskier options like co-operative bank only for the higher return. Even if you go for them, park only a small portion of your capital there, say Tinesh Bhasin and Sanjay Kumar Singh.
The 39-year-old was arrested by the Enforcement Directorate from Ranchi after the agency conducted multi-city raids against him, Singhal, her businessman husband Abhishek Jha and others, on May 6.
'Such big falls are quite frequent these days, so do not try to time this market.' 'Use big dips to accumulate quality stocks.'
Consumers will thank the Modi government for this simple yet revolutionary move, which is long overdue, says Debashis Basu.
The banking regulator is seeking an early exit mechanism for private banks under Prompt Corrective Action.
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