I worked for an Australian firm in that country from June 2012 to May 2022 and was thereafter transferred to its India office. The company has now decided to pay me some salary arrears. Will this amount be taxable in India? —Name withheld on request How your income will be taxed in India … Read more
On 22 August, the finance ministry, in consultation with the Reserve Bank of India, took a significant step pertaining to the operationalization of a new overseas investment regime. This article covers the provisions of the new overseas investment framework. As per exchange control regulations, a resident individual may remit abroad up to $250,000 per financial … Read more
Come April, and Bharat Bond ETF– 2023, among the first in the Bharat Bond series to be launched by Edelweiss MF, will hit maturity. At its launch in 2019, the Bharat Bond ETF–April 2023 had provided for a pre-tax portfolio yield of 6.83% in its presentation (or rather 6.8295%, if we deduct the expense ratio … Read more
Edelweiss Mutual Fund (MF) has launched the fourth tranche of its very popular Bharat Bond ETF (exchange -traded fund). The new fund offer (NFO), Bharat Bond ETF – April 2033, is open for subscription till 8 December. The ETF will passively invest in the constituents of the Nifty Bharat Bond Index–April 2033 that consists of … Read more
NEW DELHI: ICICI Lombard General Insurance is entering into a bancassurance tie-up with AU Small Finance Bank. The partnership will provide the bank’s diverse customers access to the Non-life insurer’s portfolio and enhance penetration across India. AU Small Finance Bank has been expanding its distribution footprints across India and this tie-up aims to enrich its … Read more
One of the most crucial financial tasks that one should never ignore is saving for your child’s future as soon as conceivable. Higher education typically entails high costs and the requirement for an education loan, which is why parents typically choose this approach. A student may apply for such a loan at a public or … Read more
After the decision was authorised and made public on December 1, 2015, the Department of Posts (DoP), which is under the direction of the Ministry of Communications, discontinued issuing National Savings Certificates (IX Issue) on December 20, 2015. DoP said in a notification dated 30.11.2022 said that earlier closing of any discontinued scheme account/certificate including … Read more
Mint caught up with Shridatta Bhandwaldar, who oversees more than ₹50,000 crore of equity assets as head-equity at Canara Robeco Mutual Fund (MF), for his views on what the Fed move means for the equity markets. Canara Robeco is the 16th largest fund house in the MF industry and its schemes have been doing well … Read more
Today, non-resident Indians (NRIs) are facing the most uncertainty ever since the 2008 crisis, especially with the evergreen tech sector also being under pressure. Coupled with the recent fall in global equity and fixed-income markets, it is only prudent that NRIs look for safer investment options. NRIs are well-positioned to benefit from the interest rate … Read more
My last year’s income from pension was ₹5,31,910 and the interest from bank accounts was ₹2,16,883. As for exemptions under the income-tax Act, I am eligible for the following deductions: ₹3 lakh exempt limit for senior citizens, ₹1.5 lakh for investing in public provident fund (PPF), ₹50,000 for mediclaim, and ₹50,000 under Section 80TTB, besides … Read more
Mumbai-based DCB Bank has brought in an opportunity for senior citizens enabling them to attractive returns in their golden years on fixed deposits (FDs). The bank is offering interest rates as high as 8.25% to elderlies who are 60 years of age and above. Apart from attractive interest rates, the bank has also announced a … Read more
State Bank of India’s (SBI) home loan offer during this festive season will end in less than two months. The festive offer which began on October 4, is scheduled to end on January 31, 2023. Under this offer, SBI is giving concessions ranging from 15 basis points to 30 basis points. The home loan interest … Read more