When the entire country is locked down to prevent the spread of coronavirus, it is obvious that many people will struggle with cashflows. While the salaried people may have nothing to worry about in the very short term, it can start becoming a problem for them too if we don’t’ manage to control the spread of the virus and the lockdown is extended. However, it is the … [Read more...] about Covid-19 scare: RBI offers 3-month moratorium on EMIs and Credit Card Payments
Who is NRI as per FEMA and Income Tax Act? (Latest Rules)
Moving abroad for employment or planning to shift back to India permanently? How will your income be taxed? Can you continue holding NRE deposit and continue to get tax-free interest? Well, everything begins with finding out whether you qualify as an NRI or a resident. And this may not always be easy. To add to the confusion, the definition of Non-resident is different under … [Read more...] about Who is NRI as per FEMA and Income Tax Act? (Latest Rules)
Market Crash: Use Tax Loss Harvesting to Reduce your Tax Liability
The current market crash has been very painful. Equity portfolios have taken deep cuts. During such times when we are so occupied with limiting losses in our equity portfolios, we might lose out on peculiar tax-saving opportunities that these times may throw up. I am talking about tax-loss harvesting, where you can use losses from one capital asset to set off capital … [Read more...] about Market Crash: Use Tax Loss Harvesting to Reduce your Tax Liability
Market Crash: How could we have reduced the pain?
The last few weeks have been terrible for equity investors. And we don’t know if it will get worse. The market correction has been savage. And nothing has been spared. The best of blue chips have been battered. So have mid and small caps. Global equities have been trashed too. It is not just the quantum of correction but also the pace of it, that has most investors … [Read more...] about Market Crash: How could we have reduced the pain?
LIC SIIP Plan (852): Regular Premium ULIP from LIC: Should you invest?
LIC has launched two new ULIPs in March 2020, LIC Nivesh Plus (Plan 849) and LIC SIIP (LIC Systematic Investment Insurance Plan, Plan 852). LIC Nivesh Plus is a single premium ULIP and I reviewed the plan earlier in this post. On the other hand, LIC SIIP plan, it is a regular premium plan. As I see, the nomenclature has been chosen to ride the popularity of ULIPs. Though … [Read more...] about LIC SIIP Plan (852): Regular Premium ULIP from LIC: Should you invest?
LIC Nivesh Plus (849): A New ULIP from LIC: Review
LIC has launched two new Unit-Linked Insurance Plans (ULIPs) in March 2020, LIC Nivesh Plus (Plan 849) and LIC SIIP (LIC Systematic Investment Insurance Plan, Plan 852). LIC is a behemoth in traditional life insurance plans and has not been very active in the unit-linked products space. The private insurers have been super-active in the ULIP space and have shown a fair … [Read more...] about LIC Nivesh Plus (849): A New ULIP from LIC: Review
Your Parents’ Retirement Corpus is not your Investment Project
It is good that you want to assist your parents in their money decisions. At the same time, you need to be cautious while handling their investments. What if the investments go wrong? You may say that even if these investments were to go wrong, you will be around to take care of them. Yes, that’s your duty. However, your parents may not want to depend on you financially. In … [Read more...] about Your Parents’ Retirement Corpus is not your Investment Project
You can take this Tax Benefit even under the New Tax Regime
The Union Budget 2020 gave a choice of tax regime to the taxpayers. Continue with the old tax regime and keep taking tax deductions. OROpt for the new tax regime (lower taxes) but don’t take tax deductions As a taxpayer, you can calculate tax liability under both the regimes and opt for the one with a lower tax liability. Under the new tax regime, all the common … [Read more...] about You can take this Tax Benefit even under the New Tax Regime
Mutual Funds: With Tax on Dividends, The Choice between Growth and Dividend?
The Union Budget 2020 changed the way how dividends from mutual funds will be taxed. The following are the changes. Till FY 2020, dividend from mutual funds was exempt from tax in the hands of the investor. However, before paying the dividend to you, AMCs used to deduct Dividend Distribution Tax (DDT) before paying such dividend to you. The effective impact of DDT was 11.46% … [Read more...] about Mutual Funds: With Tax on Dividends, The Choice between Growth and Dividend?
Budget 2020: New Tax Slabs, Tax on Dividend, Employer Contribution to NPS/EPF And Some Mess for NRIs
The Finance Minister presented the Union Budget 2020 on February 1, 2020. Here are the key hNew Taxighlights of the Union Budget from personal tax perspective. There have been quite a few changes this time around. Therefore, I have divided the post into 5 broad sections. Change in Income Tax SlabsChange in Mutual Fund Taxation (includes dividend taxation and … [Read more...] about Budget 2020: New Tax Slabs, Tax on Dividend, Employer Contribution to NPS/EPF And Some Mess for NRIs
