Which is the best investment option when inflation is inching up? Should you put your money in gold, mutual funds or buy a house? How can buying a house help you in saving tax? Can you save tax by renting a property?
Per capita income has more than doubled to Rs 1.97 lakh in around nine years. Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years. Seven priorities of the Budget, 'Saptarishi', are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
These funds can fetch double-digit returns over the long term which debt tax-saving products can't.
Missing the deadline for filing Income Tax returns can lead to consequences.
Even if interest rates go down, they may continue to offer better returns than fixed deposits.
'If this first instalment of advance tax is paid by June 30, instead of June 15, then the interest on delayed payment will be levied at 0.75% per month instead of 1% per month,' notes Homi Mistry, a partner with Deloitte India.
For women, it is important to build an emergency fund and a financial independence fund independent of the couple's joint goals and plans.
There is more to tax savings than Section 80C. These six can help you optimise your tax savings.
In cricket, we have something that we can share with our families, neighbours and indeed, the whole country. It is colour-blind, language-neutral, truly secular and transcends all regions, from Kashmir to Kerala and Mizoram to Maharashtra, explains Shreekant Sambrani.
From 100% tax deductions for contributions to PM-CARES fund to extending the due date for linking Aadhar and PAN card, the government has provided various tax relief and extensions in deadlines for statutory compliances, says Homi Mistry.
Several opposition ruled states expressed concern over Centre's decision to allow enforcement directorate (ED) to share information with GST Network, with finance minister of AAP-ruled Punjab Harpal Singh Cheema on Tuesday saying it amounts to 'tax terrorism' and scaring small business. The finance ministry, through a notification, brought in an amendment to the provisions of Prevention of Money Laundering Act (PMLA), 2002, as per which GSTN, which handles the technology backbone of Goods and Services Tax, has been included in the list of entities with which ED will share information. At the 50th GST Council meeting on Tuesday, Aam-Aadmi Party ruled Delhi and Punjab voiced concerns over the notification and demanded a discussion.
Rajasthan Chief Minister Bhajanlal Sharma, state BJP president C P Joshi and Union minister Bhupendra Yadav welcomed them into the party at its state headquarters in Jaipur.
As the campaign for the Lok Sabha elections gathers momentum, Sharad Pawar and Uddhav Thackeray, the leaders of two prominent regional parties in Maharashtra, are fighting a battle for political survival.
'If you do quick back-of-the-envelope calculation, someone earning Rs 10 lakh can get a benefit of anywhere between Rs 35,000 and Rs 45,000, even if s/he is availing exemptions.' 'A large proportion of people do not avail full exemptions as they don't have money to invest in those schemes.'
Check out the best of Get Ahead for the week ending December 1.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
RediffGURUS Ashwini Dasgupta, Anu Krishna, Dr Karthiyayini Mahadevan and Jinal Mehta answer queries from Rediff readers.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
In a major relief to tax payers, the Union Budget for 2005-06 on Monday altered income tax brackets.
ICICI Bank reported good results for the October-December 2023 quarter (Q3), with 24 per cent year-on-year (Y-o-Y) growth in profit after tax (PAT). Net interest margin (NIM) dropped 10 bps quarter-on-quarter (Q-o-Q) to 4.43 per cent. Credit growth was at 19 per cent Y-o-Y (4 per cent Q-o-Q), while deposit growth was at 19 per cent Y-o-Y (3 per cent Q-o-Q).
The Institute of Chartered Accountants of India has shortlisted the changes it hopes to see in Budget 2017.
Modi launched a scathing attack on the Congress alleging that the opposition party has become outdated and has always been against any kind of reservation.
'The number of leave accumulated sometimes goes up to 300.' 'The encashed amount is equivalent to almost 10 months' salary.'
rediffGURU Sunil Lala answers your MF-related queries.
'Tax cuts will have only marginal effects in the short run and significant positive effects in the medium term,' says Shankar Acharya, former chief economic adviser to the Government of India.
Levying buyback tax at a flat rate of 20 per cent (plus applicable surcharge and cess), irrespective of the period for which shares are held will be a dampener for equity shareholders who take inherent risks while investing, says Hitesh D Gajaria, partner and head of tax, KPMG in India.
A panel of Union ministers held a fourth round of talks with farmer leaders in Chandigarh on Sunday over their demands, including a legal guarantee of MSP, as thousands of protesting farmers camped at the Punjab-Haryana border.
Tax Guru Anil Rego answers your personal income tax queries
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
In an online chat with Rediff.com readers, personal finance expert Anil Rego answered queries about the new tax regime announced in the Union Budget.
'... dividing society not just on religious lines, but also creating rift in families and among brothers and sisters.'
'I suggest a cut in the GST rates and an infusion of Rs 1.2 trillion into the economy in six months.'
10 per cent for those who earn up to Rs 30 lakh a year and 25 per cent for those who earn more, suggests T C A Srinivasa-Raghavan.
China has spent half a century plotting to defeat America and in some respects, the Chinese military is already at par with the US armed forces, Haley said in a major policy speech on the economy in the key early primary State of New Hampshire on Friday.
'These statements which you are telling me were never uttered from mosques on that day.' 'And if this had happened, I would have got the report as the chief secretary of J&K.'
Chief Economic Advisor (CEA) V Anantha Nageswaran considers absolute poverty a more direct and pressing concern for India. He argues that inequality is a relative concept. Simultaneously, with formerly economically deprived sections joining the ranks of the middle class, policy attention needs to extend beyond 'roti, kapda, makaan' to keep the growth engine up and running.
Congress president Mallikarjun Kharge on Monday expressed apprehension that the 2024 Lok Sabha elections would be the last opportunity for the people to save democracy, as Prime Minister Narendra Modi might prefer dictatorship in case his party wins the upcoming polls.
These schemes are a good choice for investors contemplating a large investment in equity funds. Instead of investing all the money in one go, they can do so in a staggered manner by parking it in these schemes and then transferring it to equity mutual funds through a systematic transfer plan.
A term plan's premium is lower than that of a wholelife plan.
But the government will present a second tranche of Supplementary Demands for Grants during the Budget session of Parliament in February, when it can seek additional spending.
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