Income Tax: With fewer than 30 days remaining before the deadline to file the income tax return (ITR) ends on September 15, taxpayers are scurrying around to make arrangements for the necessary documents to be able to file their tax return in time. Meanwhile, it is vital to note that the tax department has released…
While small- and mid-cap mutual funds continue to remain risky, retail investors have been increasing their exposure to these funds. In July, investors invested ₹6,484 crore in small cap mutual funds and ₹5,182 crore in mid cap funds. The corresponding data for June stood at ₹4,024 crore and ₹3,754 crore, respectively. Since April, inflows into…
Central Board of Direct Taxes (CBDT) has notified ITR-U (updated), a form that allows taxpayers to rectify errors or omissions and file your previous Income Tax Return. ITR (U) was introduced under Section 139(8A) of the Income Tax Act. Here is everything you need to know about ITR-U. What is ITR-U? To encourage voluntary compliance,…
FD interest rates: Before you open a fixed deposit account, it is recommended that you compare the interest rates offered by different banks—both private and government-owned. Although most banks tend to offer similar interest rates, it is still better to compare them because even a marginal difference of 50 basis points can lead to a…
My father is suffering from terminal cancer and has become extremely weak. Taking him to the hospital for chemotherapy sessions is very difficult and also exposes him to a high risk of infection. The doctor has advised us to explore the option of home-based treatment. I am not sure if my health insurance policy covers…
Income Tax: The last date to file the income tax return (ITR) for FY 2024-25 will soon expire on September 15. If you have yet to file your income tax return (ITR) for this year, it is important to remember that you can claim deductions for a number of investments, but only if you made…
ITR filing: As the government moves to ban online money-based games in India, with both houses of the parliament passing the ‘Promotion and Regulation of Online Gaming Bill 2025’, any income or loss generated from such games in FY25 must be adjusted while filing income tax returns. Here’s how you can file income tax returns…
For several individuals in the nation, receiving financial assistance and gifts from parents is a common form of support. In such cases, if your parents transferred a large amount, say ₹10 lakh, to your bank account digitally, the logical question that arises is: What is your tax liability on this amount as you go ahead…
Financial independence is often thought of as earning your own money. But for many Indian women today, it means something more: having enough to meet your goals, feeling secure about the future, and having the confidence to make your own financial decisions. This shift in mindset is reflected in the 2025 Power to Choose report…
In a decades-old video that surfaced recently on social media, a young audience member asks Warren Buffett about his worst investment. Buffett’s response is characteristically candid: his biggest mistakes weren’t the investments that went wrong, but the opportunities he missed entirely. He estimates missing out on perhaps $10 billion in profit from investments he “knew…
