rediffGURU Samkit Maniar answers readers' personal income tax queries.
'To achieve a corpus of Rs 10 crores in the coming years, I would suggest you increase your SIP, advises Nikunj Saraf, vice president, Choice Wealth.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Tech giant Apple on Tuesday unveiled its much-awaited iPhone 15 and iPhone 15 Plus with USB-C type charging at its "Wonderlust" event.
The Turkish city of Istanbul, Bengaluru, New Delhi, Mumbai and Hyderabad were also in contention to host the auction but, the BCCI eventually opted for the coastal Kerala city.
'It is difficult to put a number right now as the value of dollar to rupee has also changed from the exchange rate last time. But don't be surprised if digital rights earns way more than TV.'
Stock markets are likely to remain range-bound in this holiday-shortened week amid a lack of any major domestic triggers, analysts said. Stock indices may also face volatility during the week amid the monthly derivatives expiry on Thursday. Equity markets would remain closed on Monday for Christmas.
Cummins, who skipped the IPL last season, was also the most expensive buy in the 2020 IPL Auction.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
India's foreign exchange reserves increased to $604 billion as on December 1, surpassing the $600 billion mark after a gap of about four months. The forex reserves were last above the $600 billion mark on August 11 this year. "India's foreign exchange reserves stood at $604 billion as on December 1, 2023.
The IPL 2024 auction, set to take place in Dubai at the Coca-Cola Arena on Tuesday, marks a historic moment as it becomes the first instance of an IPL auction being conducted overseas.
A potential risk to the rupee's appreciation trajectory lies in the event of a delay in the Federal Reserve's rate cut cycle, particularly if core inflation in the US remains elevated.
Neeraj Chopra's preparatory camp in Switzerland gets ministry approval
Alternative Investment Funds (AIFs) with a lock-in period performed better than the ones that allow investors to withdraw capital at any time. Close-ended schemes had a median return of 5.62 per cent in December, according to data from industry tracker PMSBazaar. The median returns for open-ended schemes were 3.91 per cent
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The stage is set for the inaugural edition of the Women's Premier League, which will get underway in Mumbai on Saturday.
rediffGURU Samkit Maniar answers readers' personal income tax queries
Jamieson, who was ruled out of the tournament due to an injury, was bought by CSK for Rs 1 crore.
Ahead of their final league game of the season, Lucknow Super Giants named Suryansh Shedge as Jaydev Unadkat's replacement.
Reserve Bank of India on Thursday said a centralised portal would be ready in three to four months wherein depositors and beneficiaries can access details of unclaimed deposits across various banks. As of February this year, about Rs 35,000 crore of unclaimed deposits were transferred to RBI by public sector banks in respect of deposits which were not operated for 10 years or more. "In order to improve and widen the access of depositors/beneficiaries to such data, RBI has decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits based on user inputs," RBI Governor Shaktikanta Das said while announcing the first bi-monthly monetary policy for the current financial year.
Viacom 18 grabbed the media rights for the upcoming Women's IPL for a whopping Rs 951 crore for five years, pipping other bidders, including Disney Star and Sony, in the auction.
With Jhye Richardson ruled out of the IPL 2023 season, Mumbai Indians named Riley Meredith as the fast bowler's replacement.
Among index funds, the most popular products are funds tracking the Nifty 50 and Sensex, says Dwaipayan Bose, and explains the finer points of selecting the right index mutual fund.
The Reserve Bank of India's (RBI's) decision on Wednesday to relax restrictions on banks operating in the International Financial Services Centre (IFSC) related to the repatriation of idle funds in foreign currency accounts (FCA) could give a fillip to trading in foreign stocks at the GIFT City.
The Royal Challengers Bangalore named Kedar Jadhav as David Willey's replacement for the rest of the IPL 2023 season.
Ahead of Saturday's event, here's a lowdown of ready references for the auction.
The ongoing conflict between Ukraine and Russia is unlikely to have any major impact on the Indian rupee and the forex volatility in the country (USD/INR) has been much less now as compared to the global financial crisis which took place in 2008, SBI said in its Ecowrap research report. The report said that though the conflict between the two CIS nations may drag on for now, it is expected that the USD/INR, the most tracked pair in the local forex market, will trade at an elevated zone. But ideally, the expected average range of the rupee is expected to be in the band Between Rs 76 to Rs 78 to the USD with an appreciated bias.
A healthy growth in India's services segments has helped the country's total exports and imports of goods and services to cross the $800 billion mark during the first half of 2023, despite a slowdown in global demand, think tank GTRI said in a report on Monday. According to the analysis of the Global Trade Research Initiative (GTRI), exports of goods and services rose by 1.5 per cent to $385.4 billion during January-June this year, as against $379.5 billion in January-June 2022. Imports, however, dipped by 5.9 per cent to $415.5 billion during the six months of this year, as against $441.7 billion in January-June 2022.
The new rates will be GBP 100 (INR 10,296), GBP 75 (INR 7722) and GBP 50 (INR 5148).
In a thrilling Hero Indian Super League final, ATK Mohun Bagan beat Bengaluru FC via penalties to clinch the ISL title.
One of the key factors contributing to the decline in the value of the rupee against the US dollar is the tightening yield spread between the 10-year India government bond and the US government bond. The yield on 10-year Indian government bonds is now only 295 basis points higher than that of US 10-year treasury bonds, the lowest since January 2007. Lower spread means lower incentive for foreign investors to invest in rupee assets, which adversely affects foreign capital inflows into the country and weighs on the rupee-dollar exchange rate.
The Indian junior men's team beat Pakistan in a thriller in the final of the Men's Junior Asia Cup 2023.
The Reserve Bank of India (RBI) has given its approval to two Russian banks for opening special vostro account for rupee trade. Sberbank, JSC VTB - the largest and second largest bank of Russia - are the first foreign lenders to receive this approval after the central bank announced the norms on INR trade in July. Both lenders have branch presence in India. Earlier this month, state-run UCO Bank received the RBI's approval to open a special Vostro account with Gazprombank of Russia. While the Kolkata-based lender is in the process of opening the account, the bank has received requests from various foreign lenders for opening such an account.
The rupee depreciated by 9 paise and settled at its all-time low level of 83.13 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
The Indian Junior Women's Hockey Team emerged Champions of the Women's Junior Asia Cup 2023 held in Kakamigahara.
The Board of Control for Cricket in India announced a whopping cash reward of Rs 5 crore for India's women's Under-19 T20 World Cup-winning squad, which defeated England by seven wickets in the final at JB Marks Oval in Potchefstroom, South Africa, on Sunday.
The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Before putting in place this mechanism, banks will require prior approval from the Foreign Exchange Department of the Reserve Bank of India (RBI), the central bank said in a circular. "In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in INR, it has been decided to put in place an additional arrangement for invoicing, payment, and settlement of exports / imports in INR," it said.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'The government will carefully regulate and monitor the Digital Rupee, and because the currency is supposed to be tied to INR or supported by reserves, we should expect little fluctuation in pricing.'
The rally in PSBs, analysts feel, was more a knee-jerk reaction to the development, and the actual benefits will start to accrue once the addition takes place in 2024. "The actual benefit for banks from the inclusion in JP Morgan's EM Index will accrue from June 2024 onwards. "Until then, the larger fundamentals of the market will dictate the moves. "Once the initial euphoria subsides, bond markets will look to global cues which may trigger fresh selling," said Siddharth Khemka, head of retail research, Motilal Oswal Financial Services.
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