Error-free tax return, luxury concierge firms: Top personal finance stories
This week we report about common mistakes people make in their tax filing and how India's richest use personalised concierge services
 "Error-free tax return, luxury concierge firms: Top personal finance stories")
Filing income tax returns (ITR) accurately and promptly is crucial to avoid penalties and scrutiny from the tax authorities. Common mistakes include missing deadlines, incorrect details, choosing the wrong ITR form, and not reporting all incomes. Read this article by Bindisha Sarang to learn how to avoid these errors and have a hassle-free tax filing experience.
The second article by, Namrata Kohli, discusses the rise of luxury concierge services in India, driven by a shift towards experiential luxury among high-net-worth individuals. These services offer personalised assistance for various needs, from exclusive travel to event planning.
After the massive run-up in mid- and small-cap funds in the recent past, investor portfolios have got skewed towards these segments. To rebalance them, there is a need to invest in large-cap funds. If you are looking for a fund from this category, go through Morningstar’s review of ICICI Prudential Blue-chip Fund.
If you live in a metro city and wish to be treated in one of its better hospitals, you must buy a health insurance plan with a (minimum) sum insured of Rs 10 lakh. Look up Policybazaar.com’s table on the options available to a 30-year-old for prices ranging from Rs 6,700 to around Rs 15,000.
Number of the week
The assets under management (AUM) of active and passive equity schemes crossed Rs 30 trillion in June, according to a report by Motilal Oswal Financial Services.
According to the report, the 8.7 per cent month-on-month rise in AUM was fuelled by a rise in market indices and a jump in fresh inflows.
Equity AUM now accounts for nearly half of the industry’s total capitalisation, which stood at Rs 61.2 trillion at end of June.
Last month, new capital inflows into equity funds grew 17 per cent month-on-month to a record Rs 40,608 crore, supported by Rs 14,370 crore gathered through 11 new fund offers during the month.