Updates March 31 is also last date for investments in Non-equity oriented Mutual funds (i.e. where <=35% of a MF proceeds are invested in Indian equity shares) who want to avail concessional tax treatment on LTCG. June 30 is last date for PAN-Aadhaar linking September 30 is last date for Nomination for Demat and trading … Continue reading Compliances & options to be made during March 2023
Category: Personal Finance
Income Tax Proposals – Budget 2023
Individuals: No changes in old tax regime Changes in New tax regime: Income tax slabs were changed (see below table). Limit for 100% Rebate on Income tax is enhanced from 5 lac to 7 lac. Standard deduction for salary (50K) and family pension (15K) can be claimed henceforth. Scope of assesses eligible for new tax … Continue reading Income Tax Proposals – Budget 2023
FEMA rules on transactions in Agricultural land by NRI/OCI
Acquisition- With respect to agricultural land/plantation property/farm house in India, NRI or OCI can neither acquire from anyone (even jointly or in the name of other person by transferring money to him) nor receive by way of gift. However, he can acquire by inheritance from a) Indian resident or b) resident outside India who acquired … Continue reading FEMA rules on transactions in Agricultural land by NRI/OCI
All about Sovereign Gold Bonds
SGBs are bonds issued by RBI on behalf of GOI. Here are few key features of SGBs: Who can Invest: Resident individuals, HUFs, Trusts, Universities and Charitable Institutions (max limit is up to 4 kgs per financial year in case of Individuals/HUFs and 20kg per FY in case of others). SGBs will be issued in … Continue reading All about Sovereign Gold Bonds
Do you consider ‘Yield to Call’ while investing in bonds/debentures?
You might hear Yield to Maturity (YTM), which is annual pre-tax rate of return (IRR) one would receive on a bond if it is held till its maturity (of course assuming Issuer of bond does not default on its obligations). Yield to Call (YTC) is slight variation of YTM, which is applicable in case of callable … Continue reading Do you consider ‘Yield to Call’ while investing in bonds/debentures?
Single Premium Life Insurance Policy – Tax Considerations
1) Section 80C deduction is available only in the year of payment. In other words, one can't claim deduction across policy term similar to regular premium insurance policy. (Max limit under 80C is Rs. 1.5 lakh which includes insurance premium among other investment/saving avenues) 2) Where premium is more than 10%* of sum assured, a) … Continue reading Single Premium Life Insurance Policy – Tax Considerations