BUSINESS
Not disclosing foreign assets to taxman can cost you dearly
Income-tax rules mandate that you disclose all your assets and income, especially if they are held outside India. Employees of multinational companies such as Amazon, Google, Microsoft etc. must be diligent in filing their tax returns
BUSINESS
How to manage your emotions and behaviour while investing in stock market | Simply Save
If you thought investing was all about finding the best stocks, mutual funds and other trending assets to put your money in, it’s time for a re-think. In a conversation with Moneycontrol, Pratik Oswal, Head, Passive Funds, Motilal Oswal AMC says that in the long run, what is more important is how investors manage their behaviour in the market– both in good and bad times.
BUSINESS
Piramal Enterprises launches NCD issue offering up to 9.34%; should you invest?
The NBFC is offering NCDs with four tenure options of two years, three years, five years and 10 years with yields ranging from 9-9.34 percent per annum.
BUSINESS
Higher TCS on foreign spends: Credit cards exempt for now, book flights, hotels separately to minimise tax impact
The government has clarified that standalone purchases of foreign flights or hotel stays are not considered as a purchase of an overseas tour package; they are covered under LRS.
BUSINESS
Money management ought to be taught in school: Leander Paes
Indian tennis legend Leander Paes shared the valuable money lessons he gleaned while playing tennis across the world for three decades.
BUSINESS
SEBI is like the police that make an appearance in the final scene in a Bollywood movie, you are the hero: Ananth Narayan G
The regulator’s whole-time member’s candid remarks came in an address to the mutual fund industry at Moneycontrol’s MF Summit.
BUSINESS
SEBI comes to the rescue, eases transmission of investments to family members after an investor’s demise
Once the joint holder or the nominee or a family member reports an investor’s demise to a SEBI-regulated entity, the same will be updated across all such entities. A SEBI circular formalising this change is set to take effect from January 1, 2024.
BUSINESS
Failed to disclose your foreign assets in your IT returns? The tax department will come calling | Simply Save
If you are a tax resident of India and have foreign assets, remember to disclose them in your income tax returns. Recently, a taxpayer learnt this the hard way after a penalty of Rs 30 lakh was imposed on her for failure to do so. In a conversation with Moneycontrol, Preeti Sharma, Partner, Global Employer Services at BDO India talks about how to disclose your foreign assets and how to rectify past non-reporting or misreporting of such assets.
TRENDS
World Financial Planning Day: Overseas travel, FIRE high on priority list, say advisors
After the pandemic, many Indians are looking forward to early retirement and, unsurprisingly, the frequency of overseas travel has increased.
TRENDS
Is it safe to donate money on crowdfunding platforms?
Crowdfunding platforms such as Ketto, ImpactGuru and Milaap are helping those in need to raise funds for various causes by spreading the word on social media. They will run a background check and call for documentary evidence to ascertain the genuineness of your case.
BUSINESS
Does your health insurance policy cover OPD expenses? Here’s what to look for
OPD expenses broadly fall under three categories – doctor consultations, diagnostic tests and medicines. Not all health insurance products cover expenses related to all three. Read the fine print before zeroing down on the right policy for yourself
BUSINESS
Tax on ESOPs - How NRIs can navigate the rule book
Indian multinationals such as Infosys and Wipro are known for granting ESOPs (employee stock ownership plans) to their employees. If you work at any of their overseas offices, the taxation of your ESOPs will depend on the tax rules of India, the country where these companies are based, and of the country where you reside.
BUSINESS
Buying health insurance? Here are 5 things to check in a policy document before you do
Health insurance: Did you know that many insurance policies allow you the benefit of a complimentary health check-up once a year? Read on to learn about this and much more.
BUSINESS
Sept 30 MF nomination deadline nears, over 25 lakh PAN holders yet to update details
Failure to update nomination on time will result in your MF folios getting frozen for all debit transactions. That is, you will not be able to redeem / make withdrawals from any of these investments. You can, however, continue investing in your existing folios.
BUSINESS
How Stable Money is shining the spotlight on fixed deposits | Simply Save
If you thought investing in fixed deposits (FDs) was boring, think again. Today, many online investment platforms offer FDs for investment. One such platform is Stable Money which began offering FDs to its customers, beginning last month. In a conversation with Moneycontrol, Saurabh Jain, Co-Founder, Stable Money talks about FDs as an investment avenue. Listen in
BUSINESS
In health insurance, don’t use restoration benefit as a substitute for higher sum insured
Restoration benefit helps enhance your insurance cover but it comes with conditions, different for different insurers and policies. You may not be able to utilize it for certain claims or may be able to do so only after some time has elapsed. Be sure to read the fine print.
BUSINESS
Inflation has deflated people's aspirations, shows BankBazaar study
While fewer people took out a loan in 2023 (compared to the year prior) to buy a house or for education, more availed of credit in order to meet medical and other exigencies.
BUSINESS
How cumulative bonus can help increase your health cover without paying additional premium
A cumulative bonus is a reward that your health insurer offers you for every year of no claims, which comes in the form of a hike in your original base sum assured.
BUSINESS
Should you take an accidental death benefit rider with your life insurance policy?
You can top up your base term plan with an accidental death benefit rider for higher protection at a small additional cost. While this rider is no substitute for a comprehensive term plan, it can be a low-cost way of boosting your life cover.
BUSINESS
Marriott Bonvoy HDFC Bank Credit Card: A Moneycontrol Review
Marriott Bonvoy and HDFC Bank have launched India’s first co-branded hotel credit card. For those who like staying mainly at Marriott hotels, this card is a good thing. But keep in mind that it also aims to convert travellers into Marriott hotel loyalists.
BUSINESS
Has FundsIndia’s pivot brought mutual fund distributors back into the limelight?
Taking a leaf out of the insurance business playbook, the company plans to scale its distributor-led model for better client connect and higher returns, while helping them with research and other operational support.
BUSINESS
Got a job with a start-up? Here are some personal finance matters that you must deal with | Simply Save
If you are taking up a job with a start-up, make sure you have your personal finances in order. How much do you plan to save? Do you have an emergency corpus and what about health and life insurance? In a conversation with Moneycontrol, Santosh Joseph, CEO and Founder, Germinate Investor Services, lists out some important personal finance matters to deal with. Listen in
BUSINESS
Can Shriram Mutual Fund rise from its comatose state and be counted?
With assets of just Rs 284 crore, Shriram Mutual Fund is India’s smallest fund house. Yet it is one of India’s oldest fund houses and the first fund house to ever get listed on the stock exchange. The fund house is now waking up, but it’s a long walk ahead
BUSINESS
RBI’s UDGAM portal for finding unclaimed bank deposits goes live
Seven banks, including SBI, PNB, Dhanlaxmi Bank, and DBS Bank India, will be part of the first phase. The portal cannot, however, be used to search for inoperative bank accounts.
