Once you achieve financial freedom, it is vital to invest in safe and secure financial assets. This gains even more significance at an old age when regular income stops coming and one has to survive with whatever corpus they have created. Counterintuitively, one may decide against investing in any financial instrument at all. But that…
Term plans bought in India remain valid even after one becomes an NRI. But policyholders must fulfil certain formalities to ensure their cover continues seamlessly. Here’s what you need to know to ensure your policy stays active and provides seamless coverage. Declaration of NRI status “The key point is, when you move abroad, you must…
I plan to take a personal loan for my sister’s wedding. Different apps and banks are showing me completely different interest rates. Some advertise 10.5%, while others offer 14% or even more. Why is there such a big difference? How do I know which one is right for me? – Priya Mehta, Ahmedabad Great question,…
Income Tax: The deadline to file an income tax return (ITR) for FY 2024-25 will expire on 15 September, less than one month from now. The Income Tax (I-T) Department has released the excel utilities for all the ITR forms from ITR1 to ITR6. It is now incumbent upon taxpayers to file the correct tax…
Over 2.5 lakh postmen to be trained as mutual fund distributors by undergoing special training programmes and giving NISM (National Institute of Securities Market) exam, reported Business Line. The Association of Mutual Funds in India (AMFI) has adopted a multi-pronged approach to enhance the count of mutual fund (MF) distributors and improve financial literacy in…
Is it possible to file an income tax return (ITR) on behalf of a deceased parent and claim a refund for tax deducted at source (TDS) on income earned during the same financial year? If so, are there any specific procedures I need follow or any prior intimation I need to give the tax department?…
The Income Tax Department on 16 August released excel utilities for filing updated returns in ITR-3 and ITR-4 for the assessment years 2021-22 and 2022-23. Prior to this, the department also released the utilities for filing updated returns in ITR-1 and ITR-2 for these years. Those who are not aware, the government in 2022 had…
Employees’ Provident Fund Organisation (EPFO) is a body that manages and processes the provident funds of several salaried employees of India. The organisation aims to ensure social security for employees by encouraging long-term savings, supporting financial stability after retirement and offering assistance during emergencies. Although the EPF claim process has become more digital and efficient…
In 1969 an affluent suburb of Washington, D.C. fought against a public housing project for elderly and less affluent residents. Outraged by the discrimination, Dr. Robert Neil Butler, who did groundbreaking work in the field of ageing, coined the term ‘ageism’ as a mark of protest. Decades later the term has returned, this time in…
If you’re planning to buy a phone, a TV, or a car, you will be mostly buying it “on EMI”. Credit has become an integral part of our purchasing decisions, and some also see it as a simple convenience. And in many ways, it is! Credit makes aspirational goods more affordable by letting us spread…
