Money

Saving should be approached with a specific goal and a predetermined target amount in mind. This strategy facilitates the accumulation of the necessary funds to achieve particular financial objectives, such as financing a child’s education or preparing for retirement. It is essential to adopt the principle of “Income minus Savings equals Expenses,” rather than the

The Union Budget 2024, presented in July this year, introduced some major changes to the tax rules for mutual fund investments, impacting both short-term and long-term capital gains. Investors selling mutual fund units within a year will now face a higher tax rate on their profits. For those holding investments for over a year, the

Student credit cards, as the name suggests, are specifically designed to cater to the financial needs of college students. Student credit cards come with some basic features like rewards, cash back, discounts and also an interest-free period, to attract students. Usually available as entry-level or secured credit cards, these cards are great for helping students

The biggest threat to your money is inflation, as it not only impacts the current value of your money but also diminishes the worth of your future savings across various asset classes. What inflation does is when you eventually realize or redeem your savings across assets years later, you find that their value is significantly

Senior citizens often have specific financial goals when they consider investing in mutual funds. They look for options that not only protect their capital but also provide a steady income, easy access to funds (liquidity), and tax advantages. Among the various tax-saving mutual fund schemes, the Equity Linked Savings Scheme (ELSS) stands out. ELSS mutual

NPS Guidelines: The Department of Pension and Pensioners’ Welfare (DoPPW), under the Ministry of Personnel, Public Grievances and Pensions, has issued guidelines regarding entitlement for central government staff choosing voluntary retirement under the National Pension System (NPS). According to an Office Memorandum, dated October 11, the department has notified the Central Civil Services (Implementation of

The Income Tax Department has revised its guidelines for compounding offences under the Income Tax Act, 1961. Compounding of offences allows individuals who have committed a tax-related default to acknowledge their mistake and apply to the tax authority for a resolution. If accepted, the authority may drop the case, often in exchange for a reduced

The Indian government has issued important new guidelines regarding the distribution of family pensions to ensure fair settlement between two wives of a deceased government servant or pensioner. This clarification comes under the Central Civil Services (Pension) Rules, 2021, and addresses complex issues surrounding legal marriages and pension eligibility. Key points from the guidelines: The