IRDAI, which is known as the Insurance Regulatory and Development Authority of India recently launched some big changes in the health insurance space. IRDAI is an autonomous and statutory body responsible for managing and regulating the insurance and reinsurance industry in India. The regulator has introduced several key rule changes to empower policyholders, including reducing…
A recent survey conducted by Axis Mutual Fund nationwide showed an increasing number of women assuming control of their financial futures. This shift is significant because historically, investment decisions were predominantly male-dominated. The survey’s findings indicate a rising trend towards greater financial independence among women. The survey also highlights that women prefer mutual funds, which…
Banks will remain closed for 12 days in July on account of various regional and national holidays. The Reserve Bank of India (RBI) has designated July 3, 6, 8, 9, 16, and 17 as bank holidays under the Negotiable Instruments Act. The Negotiable Instruments Act deals with the issuance of cheques and promissory notes. Transactions…
I am a retired foreign citizen with an OCI card and a tax resident of India, and have been filing annual returns, including foreign pensions credited to my Indian account, regularly. My wife, an Indian citizen and homemaker, has no income and is not a taxpayer. Can I transfer funds from abroad to her as…
Union Minister of Commerce and Industry Piyush Goyal. File | Photo Credit: PTI We are very confident that the Indian economy is poised for both healthy and organised growth and providing opportunities to lakhs of people across India, Union Minister Piyush Goyal said Healthy increase in the country’s exports, improvement in the current account deficit…
FPIs also invested ₹14,955 crore in the debt market in June. | Photo Credit: PTI After two months of net outflow, foreign investors turned buyers in June, infusing ₹26,565 crore in Indian equities, driven by political stability and a sharp rebound in markets. “Looking ahead, attention will gradually shift towards the Budget and Q1 FY25…
As Union Finance Minister Nirmala Sitharaman is all set to table the Budget 2024-25 in the third week of July, India’s real estate sector hopes for a series of reforms and incentives that can drive growth and address longstanding challenges. Expectations range from increased rebates on home loan interest rates, GST rate reductions, single-window clearance…
The finance ministry plans to impose higher taxes on futures & options (F&O) transactions in the upcoming Union Budget, as per recent reports. Proposed changes include reclassifying these transactions as ‘speculative income’ from ‘non-speculative business income’ and potentially introducing TDS on them. This news has unsettled the trader community. Let us understand why. Derivatives are…
The finance ministry plans to impose higher taxes on futures & options (F&O) transactions in the upcoming Union Budget, as per recent reports. Proposed changes include reclassifying these transactions as ‘speculative income’ from ‘non-speculative business income’ and potentially introducing TDS on them. This news has unsettled the trader community. Let us understand why. Derivatives are…
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