BUSINESS
Taxpayers receive erroneous notices: Glitches in I-T portal make it impossible to respond online
Denial of valid tax benefits, additional demands raised to which giving a reply is made impossible due to new tax portal's glitches, have added to taxpayers' woes
BUSINESS
Can a third gender open a bank account, buy an insurance policy, invest? Not easy, even 3 years after SC’s order
While some financial services record the third gender, benefits don't come by easily. Insurance policies count third gender as 'male' and calculate premiums. Absence of marital status also mean that add-on credit cards cannot be given to partners.
BUSINESS
The messy income-tax portal has made giving donations tougher this year. But there is a way out.
Starting this financial year, charitable trusts must register with the Income Tax Department, which will in turn assign a unique registration number. The government wants to account for fake charities and improve compliance.
BUSINESS
How compulsory hallmarking of gold jewellery is affecting customer purchases
The cost of hallmarked gold jewellery is expected to increase
BUSINESS
Mandatory hallmarking of gold is hurting jewellers and leaving buyers with fewer choices: head of umbrella body
The director of the All India Gem and Jewellery Domestic Council says it will take 18 months to hallmark the current stock of gold jewellery in the country
BUSINESS
HUF demat accounts on the rise, but the tax structure may not suit most investors
Hindu Undivided Family structure is used by some to stay in the lower tax bracket if there is a likelihood of shifting to a higher slab due to surge in income
BUSINESS
Why video KYC must be allowed for NRIs not able to visit India
e-KYC and video-based verification are available only to a customer who is physically present in India
BUSINESS
Three years since Section 377 abolishment. Can LGBTQIA persons buy insurance, nominate each other, invest in MFs, take a home loan?
Transgender couples suffer due to fewer tax benefits and lack of financial products. While some institutions are sensitive and want to offer help, a grey area would exist until Courts in India permit same-sex marriages.
BUSINESS
Didn’t file income tax returns for previous years? Face double TDS from July 1
If you have not filed income tax returns for financial years 2018-19 and 2019-20, you will have to face a sharper TDS cut
BUSINESS
As China pushes for a 3-child policy, Indian income tax laws favour only 2 kids per family
From income-tax deduction benefits on tuition fees to defining number of family members eligible for leave travel allowance, India’s income tax rules limit benefits to two children per family
BUSINESS
Buying jewellery online this Akshaya Tritiya? How to assess gold purity and weight
When buying jewellery online, don’t go by pictures alone. Ask for a video call or views of the piece from all sides
BUSINESS
4 lesser known insurance policies to claim from if you lose a loved one to COVID-19
These are typically add-on covers. Most of them come absolutely free or with very nominal charges
BUSINESS
Prepay home loan or step-up investment? Here’s what you must do with your annual bonus
Using the bonus earnings to top-up your systematic investment plans through lump-sum payments can help you get closer to your financial goals
BUSINESS
Beware! Jointly-held property, MFs may be treated as individual investments by taxman
Beware as pre-filled income tax returns would use annual tax statement data
BUSINESS
Facing delays in tax refunds or insurance claims? You will get additional interest
The tax department, insurance companies or even a court hearing a financial case must pay penal interest for delayed settlements
BUSINESS
High battery costs result in expensive insurance premiums for electric vehicles
The costliest component to be insured in an electric car is the battery, which accounts for 40-60 percent of the vehicle’s price
BUSINESS
Explained: All about license and insurance requirements for e-bikes
Whether you own or rent an e-bike, it is good to take third-party insurance cover. All electric vehicles that can run at more than 25 kilometres an hour need driving licenses
BUSINESS
How ECS bounce charges snatched the loan moratorium relief
Each time the electronic clearance service request for loan EMI payment bounced, charges were levied by banks on customers
BUSINESS
Go beyond premiums while choosing among standardized insurance policies
The insurance regulator's diktat on standardised insurance products means that the features would be similar across firms. But opting for a policy with low premiums can prove to be a costly mistake
BUSINESS
Budget2021: Didn’t file income tax returns? Be prepared for higher TDS
Budget 2021-22 a proposes steeper tax rate for those who have PAN, but don’t file income tax returns
BUSINESS
Budget 2021: Residency problem persists for NRIs, but retirement fund glitches removed
For NRIs stuck in India due to COVID-19, the tax problem persists. But mismatch in taxation period and retirement benefit funds will be addressed
BUSINESS
Budget 2021: Tax-filing and dispute resolution to be simplified
Pre-filled capital gains and bank interest, faceless appeals to reduce tax compliance
BUSINESS
Budget 2021: Five money-saving announcements to watch out for in FM’s speech
Budget 2021 is expected to give relief to taxpayers. Experts predict a rejig of new income tax regime and additional health insurance benefits
BUSINESS
Budget 2021: What tax experts, insurance companies and mutual funds want
The last increase in the deduction limit under Section 80C to Rs 1.5 lakh a year was in 2014 and an upward revision is long overdue
