If you are a HDFC credit card holder and use it to load funds from it to the bank’s PayZapp wallet, be prepared to pay charges from August 1. If a user adds money to her/his PayZapp wallet through credit card, then she/he will have to pay 1.5% of the amount transferred as fee plus…
The DSP TIGER Fund was a standout performer in 2007, drawing huge inflows. Infrastructure saw a massive rally from 2003 to 2007, and the DSP TIGER Fund, launched in June 2004, capitalized on this trend. TIGER stands for the ‘the infrastructure, economic reforms and growth’ fund. What later happened to the DSP TIGER Fund is…
Submitting your Income Tax Return (ITR) in India is not only a legal requirement but also provides various benefits for taxpayers. Here’s an overview of some major advantages: Steps for online registration on the e-filing portal The deadline for filing ITRs for the financial year 2023-24 (AY 2024-25) is quickly approaching. Taxpayers must take note…
India is known for its diverse culture, which includes a strong tradition of joint families. Further, the joint family concept in India is not limited to living together in a family house, it extends to many more things including owning properties jointly, conducting family businesses jointly in an all-inclusive manner, etc. Like the head and…
I-T rules require all taxpayers who hold foreign assets to declare them under Schedule FA. These include stock options, foreign stocks, bonds, bank accounts and other financial instruments. Even taxpayers whose income is below the ₹2.5-lakh tax exemption limit but own foreign assets must file an ITR to declare these assets. Also read | Income…
Specific incomes are generally not included while filing the ITR due to ignorance or oversight, not deliberately. This article deals with the incomes omitted that are to be included in the ITR. Saving Bank account and Fixed Deposit interest While filing the ITR, salaried people generally disclose their salary income only or provide form No….
Can the capital gains from the plot of a land sale be re-invested to purchase a plot of land or commercial property for tax exemption? Exemption from capital gains on the sale of any asset can be claimed only if the asset sold is a long-term capital asset. The period prescribed for this purpose is…
For quite some time now, the Reserve Bank of India (RBI) has been collaborating with various countries to link Unified Payments Interface (UPI) with the respective fast payment systems (FPSs) of other countries. Since this multilateral approach is likely to give impetus to expanding the international reach of Indian payment systems, RBI has joined the Project…
Filing your income tax return can be a highly stressful task this year. Waiting until the last minute only adds unnecessary worry that you can easily avoid. With deadlines approaching, now is the critical time to do so if you haven’t organised your paperwork yet. However, be cautious of common mistakes, which can lead to…
HDFC Bank will conduct a system upgrade on July 13, 2024. The bank is transferring its Core Banking System (CBS) to a new engineered platform to enhance customer experience for its large customer base of 93 million individuals and businesses nationwide. “This migration aims to improve performance speed, increase capacity to manage high traffic volumes,…
