I resigned in August 2024 and received leave encashment as part of my final settlement. While making the payment, the employer deducted tax on the full amount of leave encashment, contending that I had resigned and not retired. Is my employer right to deduct tax on leave encashment, as I understand this is exempt under…
A systematic investment plan (SIP) provided by mutual funds enables investors to contribute consistently and systematically to their financial objectives. By regularly making tiny, fixed-sum investments, investors can progressively accumulate wealth without requiring a sizable initial investment. Mutual funds offer a practical means of building a diverse portfolio by pooling funds to invest in various…
MFCentral (mfcentral.com), a mutual fund transactions platform jointly run by Computer Age Management Services Limited (CAMS) and KFin Technologies Limited (KFintech), has finally been converted into a separate joint-venture company. The platform, which has 2.5 million users, is run by registrar and transfer agents (RTAs) – Sebi-registered firms that provide services to mutual fund companies…
Before investing in a mutual fund scheme, it is common among investors to examine the past returns. More often than not, these returns are merely indicative, however, they are seen to be setting the tone of a scheme in the future. Here, we take a look at the returns delivered by flexi cap mutual funds in the…
Benchmark indices have fallen over 10 percent from their peak, retail investors have started feeling pangs of the market correction. This is enough to dissuade scores of retail investors from continuing to invest. Nifty has fallen over 10 per cent from its record high of 26,277, while the Sensex slid over 8,500 points from its peak….
A good credit score increases your chances of getting a loan or credit card approved, provided you fulfil the other eligibility criteria. However, the higher the credit score, the higher the negotiating power you have to get better terms from the bank. These include a higher loan amount, a lower interest rate, higher tenure, a…
State Bank of India (SBI) has raised the marginal cost of funds based lending rates, MCLR, with effect from Friday. The tenures for which the interest rates have risen are three months, six months and one year. The bank now charges 8.55 percent on its 3-month tenure instead of 8.5 percent, 8.9 percent instead of…
Your credit score is a report card of your credit history and creditworthiness. Banks and NBFCs consider 750 and above a good credit score for approving credit card and personal loan applications. However, a good credit score is just one of the factors considered for approving credit applications. Inspite of having a good credit score,…
My health insurance policy started on 29 June 2022. I went through a treatment for a disease in October 2016. The period between the last medication or treatment and the policy start date is over 56 months. Per regulations, pre-existing conditions are defined as those diagnosed within 36 months of the policy purchase date. I…
New Delhi-based Rahul Kumar’s 67-year-old father was diagnosed with liver cancer that needed an advanced palliative treatment called Transarterial Radioembolization (TARE). Kumar’s brother had a corporate policy with a private insurer. However, during pre-authorisation, the company refused to approve the claim, saying, “TARE is an advanced procedure which is not covered under the policy; hence…
