Not filing an ITR or paying the tax dues on the deceased's behalf can lead to penal consequences.
'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
G Murlidhar, MD and CEO, Kotak Mahindra Life Insurance Company explains how to make smart financial decisions for better gains.
A crucial point anyone purchasing health insurance must heed is the need to declare PEDs.
The top 10 films of the year may not be great by themselves but they stand out amidst the other OTT releases.
What many don't realise is that including their spouse and children in their tax planning can enable them to reduce their tax burden legally.
Only investors with a higher risk appetite should enter these funds.
Those who cannot bear significant downturns (as much as 40 per cent) or have a short horizon should exit entirely.
Those who want to invest should consider their risk appetite. Youngsters may go for it as they have a longer horizon to recover from a setback.
Do not, however, enter expecting quick returns.
Everyone (with some exceptions) whose estimated tax liability is Rs 10,000 or more in a financial year must pay advance tax.
Get a new QR code from an alternative provider. PhonePe, Google Pay, Pine Labs, etc are some of the other service providers.
Aseem Chhabra picks his top 10 Indian films of 2024, which includes films that have had theatrical releases or are streaming on OTT.
Sebi on Friday barred fugitive businessman Vijay Mallya from the securities markets and restrained him from associating with any listed firm for three years in the matter of routing of funds to the Indian securities market using overseas bank accounts with UBS AG. The Indian government has been attempting to extradite Mallya from the United Kingdom to face fraud charges related to his now-defunct company Kingfisher Airlines. Mallya has been living in the United Kingdom since March 2016.
Many investors, who have made money in the rising market of the recent past, are pulling out of equity funds, believing that they can earn more by investing directly.
'Use this money to build an emergency fund if you do not have one.'
'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.'
MMFs are a good option for the current environment, observes Sarbajeet K Sen.
'Byju's financials only reflect the core business. At a group level, they are experiencing substantial losses.'
'Remember, if an app breaks the rules while giving you money, it will also break them while collecting.'
Don't solely focus on tax-saving alone.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
Purchase health insurance at an early age, before you incur a disease, as this makes access to health insurance difficult and raises the premium significantly.
A retirement fund can be helpful for all age groups, but ideally one should start investing early to beat market swings and gain from compounding.
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
'Clients deemed higher-risk are required to update their KYC more frequently.'
Managing your own money is empowering. And if you haven't started yet, now is the perfect time!
It is a good option for parents of girl children who want a debt product and do not mind its low liquidity.
With hotels and restaurants being barred from levying service charge, waiters, chefs and other workers are worried they will lose out on money and are planning to approach managements to seek a pay raise. They are also apprehensive that tips given by customers out of goodwill will dwindle. Uttarakhand-native Prakash Singh Koranga, 27, a chef who works at an outlet of popular franchise Moti Mahal Deluxe restaurant in south Delhi, said service charge which gets proportionally divided among the staff acts as an "extra income" and "incentive to give our best at the job".
LTA can be claimed only for domestic travel and is available for two journeys within a block of four years.
'If rate cuts happen, bond yields will come down and investors will make mark-to-market capital gains on them.'
Opinions vary, but fund managers remain bullish.
Maintain a proper record of documents that can act as proof of the cost of acquisition of the property, cost of improvements made to the property, expenses related to transfer of the property (like brokerage and registration charges). These will come in handy in case of a dispute with the taxman.
HNI investors need an optimal mix of oversubscription and listing-day gain to make money on leveraged bets, notes Sanjay Kumar Singh.
Enhancing your credit score is the key to improving loan eligibility and securing a favourable interest rate.
Do you want to save more but feel helpless about your spending habits? It is a dangerous situation as it may lead to debt and keep you away from meeting your financial goals.
While selecting a smallcap scheme, go with one that has a good track record and a stable fund manager.
If you are overweight on fixed-income instruments, go for ELSS, and vice versa.
'Tax is not required to be deducted from specified payments if a recipient files a self-declaration with the deductor for no deduction of tax.'
Regardless of market levels, invest in stocks and equity mutual funds in a staggered manner.
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