'By investing in a basket of funds, FoFs can help minimise the impact of underperforming funds, thus reducing overall investment risk.'
A taxpayer who does not revise their return within the stipulated deadline would be stuck with the original return, including its errors.
Apart from the emotional value attached to buying gold, the yellow metal offers protection against inflation, interest rate spikes, currency and geopolitical risks, says Anamika Pareek.
Investors should view the increase in the LTCG tax rate in conjunction with the increase in capital gains exemption from Rs 1 lakh to Rs 1.25 lakh, which will provide some relief.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
Equity-focused schemes may perform better in a bull market, while debt-oriented ones may offer greater stability during volatile periods.
'Not paying workers enough will end up being self-destructive or harmful for the corporate sector itself.'
The Income Tax authorities have left the offices of the BBC in New Delhi and Mumbai after three days of lengthy questioning of some of its staff, the United Kingdom-headquartered public broadcaster said on Thursday.
Self-employed individuals often face hurdles in buying term insurance due to financial documentation that doesn't fully reflect their earnings. This complicates underwriting.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
The income tax department's marathon "surveys" at BBC's offices ended on Thursday, after clocking over 58 hours in total, as officials prepared an inventory of financial data from select staffers and collected digital and paper data.
'Investors with foreign currency-denominated goals, such as foreign education or foreign travel, should go for US equity funds.'
Invest in MFs for liquidity and choice of funds. Invest in NPS for the tax benefits, tax-free rebalancing, and for earmarked savings for retirement.
The Supreme Court on Wednesday rejected the Centre's plea for prospective effect of its July 25 verdict, which upheld the power of states to levy tax on mineral rights and mineral-bearing land, and allowed them to seek refund of royalty from April 1, 2005 onwards.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
If it was Andhra Pradesh last Budget, it's poll-bound Bihar that has now turned to Centre with a list of demands. How the NDA government is delivering on promises.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Discrepancies between Form 26AS and Form 16 can lead to an inquiry by the I-T department.
Finance Minister Nirmala Sitharaman also said that the government proposes to increase the benefit of carrying forward losses for startups to 10 years.
'Filing a nil ITR serves as a formal declaration to the tax authorities that your earnings fell below the taxable threshold in the given financial year, and you had no tax liability during that period.'
Reliance ADA Group chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) in Mumbai and recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Ambani, 64, deposed at the office of the federal agency in south Mumbai. Ambani's statement was recorded as part of a fresh case filed under various sections of the Foreign Exchange Management Act (FEMA), the sources said without elaborating.
There are reports that the government will soon cut income taxes by about Rs 50,000 crore to boost consumption.
Prime Minister Modi, I suggest that, instead, you distribute about one lakh crore rupees per year to the 80 crore poor, which will boost both consumption and economic growth, suggests Kalyan Singhal, McCurdy Professor of Business at the University of Baltimore.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
With 7 per cent economic growth, India is not creating enough jobs as reflected by the number of applicants for vacant posts in some states, Reserve Bank's former governor Raghuram Rajan said and suggested the government needs to focus on promoting labour-intensive industries to generate employment. Rajan further said some Indians, especially those at upper level, are comfortable and have high incomes, but consumption growth from the lower half of the country has still not recovered to pre-pandemic level.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
'Ensure that all property-related documents are up-to-date.' 'Relying on outdated documents can create legal complications.'
Long-term tax-saving FDs can also be considered after the PPF limit has been exhausted.
New investors should gradually build a 5 to 10 per cent allocation to gold.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Donald Trump's exaggerated opinion of his dealmaking capacity can get him into trouble, observes R Sriram.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Amid a social media storm over the death of a young employee at tax consultancy major EY allegedly due to work pressure, Deloitte has formed a three-member external committee, which includes former revenue secretary Tarun Bajaj, to look into practices, policies and processes concerning employees, its South Asia CEO Romal Shetty said on Friday. Shetty said to manage the work pressure within the organisation and have an open work culture, Deloitte has a chief happiness officer and takes strictest action for any bad behaviour within the organisation. Deloitte is one of the four major global tax consultancy firms.
Delhi faces a severe financial crunch and the deficit is largely due to numerous welfare schemes without adequate revenue flowing in. The success of welfare schemes and electoral promises will need careful financial planning and out of the box thinking to whip up additional revenue, notes Ramesh Menon.
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