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First, let us understand the tax rules for selling short term and long term investments. Short-term capital gains (STCG) on assets held for less than a year are taxed at 20% and long-term capital gains (LTCG) on assets held for over a year are taxed at 12.5% beyond ₹1.25 lakh. By selling loss-making investments before…
Several surveys over the years have consistently shown that a significant portion of Indians don’t have an emergency fund. This lack of financial knowledge and contingency funds has resulted in most remaining vulnerable to financial difficulties such as medical emergencies, sudden layoffs and unexpected expenses. One such survey, conducted recently by Finology Ventures, found that…
HDFC’s SmartBuy and Axis Bank’s GrabDeals have long dominated the space. Now, ICICI Bank is upping the ante with iShop, its new rewards platform that levels the playing field. From February, ICICI Bank introduced accelerated rewards—6X on flights, 12X on hotels, and 6X on vouchers—making all its credit cards more rewarding. The exact return varies…
I have incorporated an IT company abroad. I want to transfer money to my own account abroad and give a loan to my company outside India. Can I avoid TCS by doing this? -Name withheld on request. Tax collected at source (TCS) is applicable on all remittances made under the Liberalised Remittance Scheme (LRS), as…
Despite boasting a thriving ecosystem of new-age technology companies (NATCs) across diverse sectors such as technology, renewable energy, and artificial intelligence, many face significant challenges in accessing domestic capital markets, which limits their potential to scale and compete globally. Reflecting on report’s findings, reminds us of Sebi’s 2019 redesigning of institutional trading platform into the…
I have an apartment that I want to sell. If I sell it before 31 March this year, will I have to pay the entire capital gains tax as advance tax by 31 March? My reservation is that the seller will pay me in 2 instalments so I will not have enough money to pay…
The next step is the online registration process–uploading the documents and submitting the application and Aadhaar authentication through OTP. However, the process may not be as simple as it sounds. GST (goods and services tax) officers often ask for additional allied registrations, such as shops and establishment licences, MSME Udyam certificates and no-objection certificates (NOC),…
Many people spend their lives chasing wealth, believing it to be the ultimate measure of success. Yet, despite amassing fortunes, they find themselves unfulfilled. Is money really the key to happiness, or is there something more? Money as a measure of success In today’s world, success is often equated with wealth and material possessions. While…
MUMBAI : Traditional insurance policies have a fixed maturity period. Until these policies mature, policyholders cannot withdraw funds. However, if you are facing a temporary cash crunch and don’t want to surrender your policy, a loan against it can be an option. Here is a look at how it works and why policyholders must be…
Pre-closing a personal loan from any bank is a good financial decision, but one must be cautious while doing so by keeping certain important points in mind. Firstly, a personal loan is a very risky line of credit that borrowers avail. This is risky because it comes with the potential of higher repayment terms, interest…