rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
The new EET method of taxation needs to be debated extensively.
She has shown shrewdness, sensitivity, and courage. All of these will be needed in ample quantities for the real challenge that will emerge after the elections, notes Shreekant Sambrani.
West Bengal Chief Minister Mamata Banerjee on Saturday accused NIA officials of attacking villagers in Purba Medinipur district, the BJP hit back at her saying that the attack on the NIA officials is Sandeshkhalli 2.0 orchestrated by the state.
World No 1 Iga Swiatek overcame a strong early challenge from former champion Sofia Kenin to reach the second round of the Australian Open
Whether salaried or running your own business, it's about time to get your investment proofs in tax-saving instruments ready for filing your income tax returns later this year.
Saving is not the same as investing as many people wrongly assume. But what's the difference between the two? How does each benefit you. Larissa Fernand has the answers
As the new Tax Collection at Source (TCS) on foreign remittances is set to become applicable from October 1, travel agents' body TAAI has made a last-minute plea to the government, urging them to abolish the decision or defer its implementation until the next fiscal year to allow discussions on overseas tour packages. The government has raised the TCS on foreign remittances under the Liberalised Remittance Scheme (LRS) from 5 per cent to 20 per cent. This will be applicable to international travel, sending money abroad and other remittances.
HUFs are not used for tax evasion but for tax avoidance/to save the tax within the four corners of the law. Experts say that there will be little or almost insignificant change in tax revenues.
The DMK also warned of legal action against those who attempt to link Sadiq with either the party or its leaders.
'The household sector, which is still the largest contributor of financial savings, has been experiencing a decline in the last six years, and it has fallen below 8% of GDP.'
'We are expected to grow at above 28 per cent this year, higher than the industry.'
'The economy needed 3 or 4 major fixes. The major one was, of course, the direct tax structure, but we ended up complicating the existing convoluted tax structure,' says M R Venkatesh, chartered accountant and lawyer.
Indian fintechs and associated entities are hoping that the Union Budget 2024 will provide a boost and empower firms to extend their reach beyond Tier-II regions, with an emphasis on supporting enterprises led by women. The fintech industry, which has witnessed regulatory reforms over the last year, expects the Budget, scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1, will further encourage financial inclusion, empower micro-small-medium enterprises (MSMEs) with lending solutions, and push for upskilling initiatives for the country's young workforce.
A prudent guideline for self-employed individuals is to target at least 10 to 15 times their actual annual income when determining life insurance coverage.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
'It is requested that listed equity shares or units of equity-oriented fund schemes be exempted from capital gains tax (LTCG) if equity shares or mutual funds units are held for at least three years.'
The high safety levels coupled with the attractive returns make small savings schemes a 'must-have' proposition for most investors.
Long-term tax on capital gains arising from selling a house can be invested in another property under Section 54.
'You need to have enough funds to maintain the primacy of public transport and it should not suffer because of lack of funds.'
Disclose foreign assets, redesignate NRO a/c and open a Resident Foreign Currency a/c to park forex earnings
The forms might soon come "pre-filled" and taxpayers won't have to fill details such as income, income sources, and personal details
The government on Wednesday released a brand new direct taxes code that will replace the 1961 Income Tax and other direct tax laws, saying it will provide a simple tax structure for better compliance.
Broadly, there are three ways toensure that you pay optimal tax; Claiming tax free income, incidental actions that bring tax benefits and finally investing/saving for tax benefits.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, will answer all your budget-related queries on investing in mutual funds between 1 pm and 2 pm, February 4.
Fund houses are exploring ways to differentiate themselves in the hybrid space. A relatively unknown hybrid fund variant, Balanced Hybrid, is about to see its first launch since the introduction of mutual fund (MF) scheme categorisation norms in 2017. WhiteOak Capital MF has filed papers with the regulator for this scheme, which comes amid increasing interest in the hybrid space. MFs anticipate that hybrids will become the preferred category for investors with a lower risk appetite following changes in debt fund taxation.
Fiscal deficit would be brought down to below 4.5 per cent by 2025-26, Finance Minister Nirmala Sitharaman said on Wednesday. She also said that tax receipts for the next fiscal are budgeted at Rs 23.3 lakh crore and states would be allowed 3.5 per cent of GDP as fiscal deficit. To finance the fiscal deficit in 2023-24, net market borrowing from dated securities is estimated at Rs 11.8 lakh crore, Sitharaman said while presenting the Union Budget for 2023-24 in the Lok Sabha.
Business success often involves a combination of planning, implementation, and continuous learning, says rediffGURU Harsh Bharwani.
How long will the RBI allow the government to borrow cheaply? A change in policy direction will see rates climb and bond values fall. Investors in debt funds are therefore at risk, as are people invested in the heated stock market, warns T N Ninan.
Archit Gupta -- founder and CEO, ClearTax.com -- lists common mistakes and how to avoid them for filing a hassle-free income tax return.
The abolition of fringe benefit tax will help employees save 3 per cent on their employee stock option plan.
Whether you give stocks held for more/less than a year, benefits are nominal; donating cash is better.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'People try to repay the BIGGEST LOAN first. Actually, you should repay the most expensive loan first.'
Saving tax through Ulips will lead to mixing of insurance with investment.
Sandeep Shanbhag, a chartered accountant and director of Wonderland Consultants, a tax and financial advisory firm, discussed the impact of Budget proposals in a chat with Rediff.com's readers.
It is strange that the wealthy evade taxes even though the marginal utility of the money saved amounts to little and tax rates in countries, including India, have dropped
Replying to the debate on the Finance Bill in Lok Sabha, the minister said he did not propose any change in the tax rate but only provided few rebates which will boost spending and help the economy.
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