As of now, if you have taken a home loan, the interest payments up to Rs. 1.5 lakh and up to Rs. 1 lakh towards principal repayment are eligible for tax benefit. But this is set to end once the new code comes into effect. So if you have paid Rs 3 lakhs as interest… Read More »
Simply put, tax evasion occurs when any trust, individual, or firm, seeks to avoid paying taxes by illegal and unfair means, by, for example, deliberately hiding income from the tax authorities to reduce the liability of tax. People have been known to submit dishonest reports, including declaring less gains, profits, or income than what was… Read More »
For Saurav, today was a bit unnerving. He had received a call from his cousin Abhay in Ahmedabad and for once he was unable to make a quick decision. However, a thought struck him as he reviewed his financial assets. After all, NRIs were preferred borrowers in India…
ULIPs basically work like a mutual fund with a life cover thrown in. They invest the premium in market-linked instruments like stocks, corporate bonds and government securities. Investments in ULIPs attract tax benefits under Section 80C. The returns and the lock-in period depend on the plan chosen.
The exemption of customs duty on gold ores and concentrates for its manufacture will show a definite reduction in the cost of gold production which will be highly beneficial to the manufacturers. Gold bars other than tola bars will have a rise in price. The cost of export of plain gold and silver jewelry is… Read More »
As you plan for retirement, your portfolio should consist of a range of instruments (equities, mutual funds, bonds, debentures, property, gold) depending upon your objectives and risk profile. Remember that the older you are when you start to save towards retirement, the harder it becomes. Also, with falling interest rates and increasing volatility in the… Read More »
If one if not a person who can extensively devote hours to stocks, he should try to stick to the blue chips. These are companies that have been in existence for a long time, have posted positive numbers every time, mutual funds hold investments in them and are market leaders. These stocks may seem to… Read More »
Usually companies hedge funds to safeguard against currency fluctuation. If this is done in the right way the company makes a Forex gain but in case of wrong bets it incurs Forex loss. Forex gain or loss can also happen when companies borrow in foreign currency. If you are shareholder and see a Forex loss… Read More »
The basic excise duty has been increased from 8% to 10%. This will have a compounding effect on almost all goods. By the time this article is written, there is some news that the petrol prices will be increased by about Rs.2.85/liter. Car makers have told that they will be increasing the prices after the… Read More »
The major cause of celebration was that people earlier in the 30% slab (those currently earning between 5-8 lakhs) have now been shifted to the 20% rate of income tax and those in the 3-5 lakh group have shifted to a lower 10% rate of income tax. Add to this the deduction of Rs 20000… Read More »