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Showing posts with label Money. Show all posts
Showing posts with label Money. Show all posts

Sunday, January 5, 2020

LTCG is taxable if sale consideration is higher than indexed cost of acquisition

Capital gains or loss is calculated as the difference between the sale consideration ( ₹25 lakh) and the indexed cost of acquisition (ICOA).In case your sale consideration is higher than the ICOA, there shall be a resultant LTCG
Source: LM

Follow these four steps to pick the right ETF for your portfolio

Identify the right index, evaluate the tracking error and liquidity, and review the ETFs periodically.Liquidity or the lack of it in an ETF can impact the efficiency with which periodic investments can be made
Source: LM

Opt for a paid personal accident cover built in with motor insurance for your drivers

Family floater plans allow coverage even for adopted children and your daughter would be covered under the plan till 23 or 25 years of age.You can alternatively opt for a standalone group personal accident cover, group health and life insurance plan
Source: LM

How to get hold of unclaimed bank deposits

Unclaimed money in dormant accounts is moved to RBI’s Depositors Education and Awareness Fund; reach out to your bank to claim the amount.An account is considered dormant or inoperative if there has been no transaction for two years
Source: LM

Opinion | Retail financial services in the next decade

Creative use of data streams open up new opportunities for tailoring products
Source: LM

Wednesday, January 1, 2020

How to shield yourself from slowdown: Start building a corpus early on

Couples should be ready for a job loss, especially if they work in the same industry, as both can get affected together.Mukherjee and Guha decided to cut down the initial costs of setting up a house after marriage by not redoing it from scratch and using appliances and furniture they already had
Source: LM

Don’t shop away your worries, instead tailor your life around a fixed budget

It’s easy to get tempted and take loans in tough situations, but remember that this can dent your money life.Shanbhag had to quit her job in a hurry even amid a slowdown. She rode out the tough phase by sticking to a budget and steering clear of loans
Source: LM

Which way will India’s growth, inflation, gold and Sensex move in 2020?

Here is what experts feel the way will India’s growth, inflation, gold and Sensex move in 2020
Source: LM

Avoid erosion of capital, mitigate market risks in your golden years

At the start of 2019, Salunkhe was worried because defaults and downgrades of companies affected some of his debt funds but his planner helped him rejig the portfolio
Source: LM

Plan your investment and insurance needs with an eye on retirement

Once children are in college or start their careers, retirement is the next major milestone for empty-nesters.Bakshi was hoping that rentals from his real estate investments would fund his retirement years, but is now rethinking his investments
Source: LM

How to shield yourself from slowdown: Never lose sight of long-term goals, cut your discretionary expenses

Individuals in the middle-aged group should look at increasing their current income through various channels.Kalsi is unsure about the kind of salary increment he will get this year and has postponed upgrading his car and has cancelled a foreign trip with his family
Source: LM

Sunday, December 29, 2019

You can carry forward net loss from any unlisted shares to 8 future tax years

The net loss (which cannot be adjusted in the same FY) can be carried forward for 8 future tax years (subject to prescribed conditions), which will be auto-populated under Schedule CFL.Reinvestment in gold shall not be eligible for exemption and require to discharge appropriate LTCG tax
Source: LM

Opinion | Scenarios when banks lend even if a property lacks occupancy certificate

Occupancy certificate isn’t needed when you apply for a home loan for a property that is under construction
Source: LM

Register for the bank’s locker wait list

Lockers are provided by banks on a first-come-first-serve basis, so if someone gives up the facility and your name is there on the wait list, you would become eligible for it.A bank may ask you to open a fixed deposit with it against the locker facility
Source: LM

You can get a cover even if your house is rented out

A few insurers now offer an all-risk policy for home insurance on the registered value of the house, including the cost of land.If your house left vacant for an extended period of time, you must inform the insurer
Source: LM

Sunday, December 15, 2019

Invest long-term gains from property sale in a residential house to save tax

A gift given to children shall not be taxable, both in her hands or her children’s hands as a gift received from specified relatives (including mothers and mothers-in-law) is not taxable, according to the Act
Source: LM

Diversify between NCDs and FDs for lower risk

If you are below the 20% tax bracket, you can consider buying NCDs to diversify your debt portfolio, but check the rating and limit your exposure.No matter how attractive an NCD may seem, don’t invest more than 5% in NCDs of a single company
Source: LM

Monday, December 9, 2019

Get SWP on your debt fund for better returns

A systematic withdrawal plan is more tax efficient than the dividend option of a debt mutual fund, and this helps boost your post-tax returns.SWP withdrawals are not dependent on the fund’s performance
Source: LM

Sunday, December 8, 2019

Rental income is taxable from the date of possession, even if registration isn’t done

From the rental income, only specified deductions are available such as payment towards municipal taxes, standard deduction of 30% of net rent, interest on housing loan, if any.As per the Income-tax Act, the buyer of an immovable property is required to deduct TDS at the time of making a payment to the seller
Source: LM

Is charge card a better pick than credit card?

While charge cards are superior in terms of credit limits and offerings, steer clear if you are not keen on paying high delinquency fee or annual charges.Charge cards are aimed at an elite user base and offer rewards and benefits that are premium and differentiated
Source: LM