If the gift is received from a relative, there is no tax implication. But if the gift is received from a non-relative and exceeds Rs 50,000 in value during a financial year, the entire value of the gift is taxable.
As banks' chase for customers to collect cheap deposits is not fructifying, they are forced to offer inflation-beating real interest rates on fixed deposits now, and state-run banks led by Punjab & Sind Bank tops the chart offering 8-8.50 per cent per annum deposit rate. Banks are forced to offer inflation-beating deposit rates for a tenor ranging from 200 to 800 days as credit growth has been far outpacing deposit mobilization throughout this fiscal, leading to a funding crunch.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
If the cashless request is denied, the entire cost may need to be paid for planned treatments.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
rediffGURU Ulhas Joshi answers your mutual fund queries.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
rediffGURU Mahesh Padmanabhan answers readers' personal income tax queries.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
A fixed deposit probably ranks as the most conventional investment avenue for domestic investors. More importantly, given its offering, it makes an apt choice for risk-averse investors.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Do not shop around for loans immediately after getting a secured credit card. Such loan enquiries can also pull down credit score, as they are treated as a sign of credit-hungry behaviour.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'Young investors should focus more on equity, while retired senior citizens should prioritise fixed income.' 'Mid-career investors should aim for a balanced allocation.'
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
The mutual fund industry's QAAUM (Quarterly Average Assets Under Management) was up 37 per cent year-on-year (Y-o-Y) (9 per cent Q-o-Q) to hit Rs 59 trillion (end Q1FY25). The equity segment grew 55 per cent Y-o-Y and equity formed 56 per cent of total AUM, up 49 per cent in Q1FY24. Sequentially, AUM grew by Rs 5 trillion.
Maharashtra Deputy Chief Minister Devendra Fadnavis on Friday said the passengers onboard the bus that fell 150 metres into a river in central Nepal were from Jalgaon district in the state as per preliminary information, and efforts are on to bring them back.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
'The barbell strategy says that the best way to strike a balance between risk and reward is to invest at the extremes of the risk spectrum.'
With the revised interest rates, the one-year fixed deposit will attract an interest rate of 6.75 per cent as against the 7 per cent earlier
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
rediffGURU T S Khurana answers readers' personal income tax queries.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
rediffGURU Sunil Lala answers your personal finance-related queries.
rediffGURU Samkit Maniar answers readers' personal income tax queries
Feature for feature, bank FDs are indeed better than debt funds today, mainly thanks to Ms Sitharaman, notes Debashis Basu.
'If you invest in sovereign gold bond, you are going to get the price rise of gold over an eight year period.' 'You're also going to get that two-and-a-half percent which the Government of India is willing to give you, treating the money that you've invested in the sovereign gold bond as a kind of a FD or a deposit.' 'That kind of return you can never get anywhere else.'
Do you have financial planning queries? Ask rediffGURU Kirtan A Shah.
In its reply to the Securities Appellate Tribunal (SAT), the Securities and Exchange Board of India (Sebi) said urgent action was warranted against the promoters of Zee Entertainment Enterprises Limited (ZEEL) in the alleged fund diversion case to safeguard the management and protect investors and other stakeholders. It termed the applications made by Essel Group Chairman Subhash Chandra and ZEEL managing director (MD) and Chief Executive Officer (CEO) Punit Goenka as "completely false and misleading" in its response submitted to SAT on June 17. "We have a situation before us where the chairman emeritus and the MD and CEO of this large listed company are involved in a myriad of different schemes and transactions through which vast amounts of public money belonging to listed companies are diverted to private entities owned and controlled by these persons.
If you don't have a specific goal, but want intermittent liquidity, then ladder your FDs, that is, invest in FDs of varying maturities, such as one, two, three, five or even 10 years. Laddering ensures FDs mature at regular intervals.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
These plans are best suited for individuals with a lower risk appetite as they provide guaranteed benefits.
Improved credit profile may make you eligible to transfer your existing home loan to another lender at a much lower rate.
