Keeping aside income-tax benefits, selling property under an HUF structure may be cumbersome because the consent of all members of the family is required.
Taxation works differently for individuals, companies, firms and other entities. One such entity is a Hindu Undivided Family (HUF), which has its separate tax liabilities and exemptions.
Before applying for a scholarship, it’s important to build a strong profile, do in-depth research on options available for scholarship, apply early and search for alternative options to get the scholarship. Most importantly, do not make fake or inflated claims while applying for one.
From selecting a suitable destination and university to funding your overseas studies through investments, scholarships and education loans, Moneycontrol’s one-stop guide has all bases covered.
Aside from health issues, you may also face a toxic work culture later that forces you to retire sooner than planned. A sound financial plan will help you cope with the sudden loss of income that follows.
Fees for the first couple of years, petty cash to take you through a year’s expenses….there is only so much you can plan before you fly overseas for higher studies. But expenses will crop up once you begin your course. Here’s how to manage your money then
Although direct investments are available thanks to the internet revolution and mutual funds offering direct plans, these are not meant for everyone. It’s better to have the support of an investment advisor, despite the fee.
Relying too much on elders for financial advice could mean investing more than what’s needed in tax-saving schemes even though they may not suit our financial plan. Such biases could impart a false sense of financial security.
Not having adequate cover during your life’s journey to achieve your financial goals is akin to doing a trapeze act without a safety net. Unfortunately, people realise this only when it’s too late.
Tax planning for individuals may get a boost as the government prepares to share the income and tax liability data of individuals with tax and investment planning portals on a real-time basis. But first, there might be a privacy hurdle to cross.
The cost of education rises by a larger margin than what the published centralised inflation numbers tell you. What makes it worse are the many hidden charges that can push the education budget up further.
First, estimate your expenses after some thorough research. Then budget for them before departure. You will need to factor in pre-departure expenses, external coaching fees, deposit for rented accommodation and other costs.
Employees contributing over Rs 2.5 lakh to their EPF account will feel the pinch of tax on interest on the excess amount this year, as the rules will be implemented when EPFO credits interest for FY 2021-22.
Know the corpus you need for overseas education and start saving regularly for the same.
Your financial goals could be immediate, medium-term or long-term. A single portfolio for all your goals might end up compromising some of them, especially if you have to make a large withdrawal.
The decision to invest in single or joint portfolios can be made based on individual preferences, risk profiles and tax considerations which also determine the asset allocation and choice of asset classes.
The perpetual debate is rekindled in the wake of better regulations and low-interest rates, but it should be a financially driven decision rather than an emotional one.
Before relocating to a new city, make a budget sheet, consider major expense heads, arrange the necessary funds and plan for intangible expenses as well
Most investors focus more on getting higher returns. But when you are just starting, 'saving more' is a lot more important than higher returns
Where there is a Will, it is easier for legal heirs to claim money lying with mutual funds that was left behind. But in the absence of a Will and Nominee, complications arise and paperwork mounts
Estate planning is often left for the last minute, kept secret even from beneficiaries, and not given priority. Such mistakes can be harmful.
Students pursuing studies abroad could be in for tough times as rupee depreciation vis-à-vis the US dollar is likely to push up their overall cost of education, especially living expenses
Planning a vacation at the last moment can make your holiday costly. A little bit of control on your budget and smart planning, like visiting an offbeat destination, can lower your travel costs significantly
Those who had taken a home loan as far back as 2015 or 2016 would have benefited from falling interest rates. But those who bought properties—and took loans to refinance them—when interest rates had bottomed out during the Covid-19 lockdowns will feel the pinch
Gold prices may not have stuck to the script of going up despite the Russia-Ukraine conflict. But gold is not to be used to generate returns. It is a hedge against inflation and uncertainty. And it’s best to invest in it, paperless.