Under what circumstances a tenant whose landlord is a non-resident Indian (NRI) can apply for a reduction in tax deducted at source (TDS) on rent and what are the documents needed to support the application? Tax must be deducted at the rate of 30% (plus applicable surcharge and cess) on the rent payable to an…
Why is Pushpa locked away in a red sandalwood shipping container for 40 days with just a book (instead of Duolingo) in Japan? Why do Japanese goons have guns? Was that first fight at Yokohama port only staged so that Pushpa could say, ‘I’ve gone international’? Why is there no connection to Japan with the…
Understanding the MTF In an MTF arrangement, the broker essentially provides a loan to purchase securities. The investor pays an initial margin, a percentage of the transaction value, while the broker finances the remainder. The broker holds the units as security and charges interest. Taxability of MTF transaction gains The nature of tax treatment depends…
Physically-backed gold exchange-traded funds (ETFs) reported a net loss globally for the first time in seven months during November, the World Gold Council (WGC) said. However, Indian gold ETFs recorded inflows for the eighth consecutive month, attracting $175 million in November. This was likely driven by rising equity market volatility and general bullish sentiment towards…
The world is bullish on India, the country’s top economist, currently Executive Director of the International Monetary Fund (IMF) has said, noting that India’s public digital infrastructure and inclusive growth is not only being talked about but also applauded by the International community. “I think the Indian economy has been growing overall very well. Post-COVID,…
The Employee Provident Fund Organisation (EPFO) allows individuals to only have one Universal Account Number (UAN). Think of UAN as an umbrella account that can house multiple member IDs. When you switch jobs, your member ID changes but your UAN remains the same. However, in some cases, you may be allotted a new UAN despite…
In case you fall short of money and urgently need it, one of the most feasible options is to raise a personal loan. There could be numerous reasons for raising it. For instance, you need some money to go on a vacation abroad, or you need it to consolidate your existing loans, or for renovating the…
It is sometimes overwhelming to read credit card statements especially when it relates to the minimum balance you owe. Let’s break it down so you can understand what it is, how it works, and what it can do to your pocket. What are credit cards? Banks and other financial institutions issue credit cards, which are…
Personal loans provide ready access to money, but with responsibilities and downsides. Knowing when to seek a personal loan is the secret to sound financial decisions. Here are closer looks at when it makes sense to take out a personal loan. Understanding personal loans A personal loan allows you to borrow a specific amount of…
Knowing your CIBIL score is the first step towards understanding your financial health. An OTP was earlier required to check your CIBIL score. However, recent changes have enabled you to view your score using only your PAN card. Let’s take you through this easy and effective procedure. What is CIBIL score? A CIBIL score is…
