Page 19 - Personal Finance

Waiting for your IT refund? Here's a step-by-step guide for you

Track your ITR refund online with ease, know where to check, what each status means, and what to do if there's a delay

Hit by falling FD rates? Consider these funds with 3-year horizon

Hit by falling FD rates? Consider these funds with 3-year horizon

ICAI notifies norms to cap individual tax audits by CAs to 60 annually

ICAI President Charanjot Singh Nanda on Wednesday said capping the number of tax audits that can be done by an individual chartered accountant to 60 annually will help strengthen the regulatory framework and enhance focus on auditing work. The Institute of Chartered Accountants of India (ICAI), which has more than four lakh members, has notified the norms for capping the number of individual tax audits and these will come into effect from April 1 next year. The limit of 60 will be the aggregate limit in respect of all tax audits signed by a member (chartered accountant), both in his individual capacity and as a partner of a firm(s). Further, a partner of a firm cannot sign any tax audit report on behalf of any other partner. There will also be certain relaxations to the limit. At a briefing in the national capital on Wednesday, Nanda said the move will strengthen the regulatory framework and help increase the focus of chartered accountants on tax audits. The norms in this regard h

Sending money abroad: Choose platform that discloses exchange rates, fees

For the same amount remitted, compare how much the recipient will get across different service providers

Secure your EPF, mutual funds & bank savings: Here's how to add a nominee

Your pension, mutual funds and savings must go to your heirs without hassle

Multi-factor funds: Opt for quant model-run fund to eliminate manager risk

Be mindful that these funds do not have a track record, and changing market conditions can render a model obsolete

Bitcoin rally: Cap crypto exposure at 2-5% of portfolio to manage risk

Be mindful of hacking risk and lack of regulatory clarity in India vis-a-vis these assets

Fake messages about PM-Kisan seek to defraud farmers; govt issues advisory

Falling for social media messages could result in loss of financial information, it says

Use a revised or updated income tax return to correct bogus deductions

Once scrutiny, surveys, or raids begin, correction options are no longer available

Investors filing tax using LRS route must disclose foreign assets, income

Misreporting may invite penalty as high as Rs 10 lakh, can go up to 200 per cent of the tax due

Home insurance: Ensure policy covers calamities, pays reconstruction cost

Disclose all extensions, additional structures at the time of purchase

Debt funds: Keep bulk of portfolio in short to medium-duration funds

India's 10-year benchmark bond yield, which fell to 6.13 per cent on June 6, closed at 6.31 per cent on July 15

UPI-PayNow: Step-by-step guide to instant India-Singapore remittances

NPCI expands UPI-PayNow linkage, making India-Singapore money transfers faster, cheaper and seamless for users. Here's how to use the service step by step.

HRA exemption glitch in ITR utility: What salaried taxpayers must do

'Taxpayers must calculate exemption based on residence, not workplace, to avoid notices' says experts.

Flexicap funds: Freedom to shift across market caps helps mitigate risks

Flexicap funds suit investors who prefer to delegate market-cap allocation decisions to a professional

Understand the legal and financial implications before gifting property

A registered gift deed transfers property ownership permanently and cannot be revoked unilaterally, unless specifically stated-donors and donees must plan with caution

How tax changes have transformed debt MF landscape, altered investor choice

Fund houses have launched debt-arbitrage FoFs to attract investors in higher tax brackets

ITR forms explained: ITR-1 to ITR-5 & what’s new this year?

It’s income tax filing season, and let’s be honest, it can get pretty confusing trying to figure out which ITR form applies to you. Add to that a bunch of new updates from the Income Tax Department

Avoiding fraudulent loan apps: RBI listing, ratings & reviews key to safety

Loans from registered NBFCs or banks come with a key fact statement (KFS), a sanction letter, and a loan agreement detailing all costs

Arbitrage funds: Low-risk, tax-efficient option, enter with 6-month horizon

Arbitrage funds have become increasingly popular due to their low-risk nature and tax efficiency. With a 6-month investment horizon, these funds offer strong post-tax returns