The report, released by PMS Bazaar, compared the performance of 335 PMF funds with 388 regular mutual funds, spread across varied time frames such as 1, 3, 5 and 10 years.
In a consultation paper released on February 2, SEBI suggests that nomination be made optional for jointly-held mutual fund folios and demat accounts.
Paytm Money is one of the biggest online platforms where investors can buy not just mutual funds, but also invest in equities and the National Pension System as well.
Emphasis on the underserved segments presents a powerful opportunity to secure individuals against the risks of mortality, morbidity, longevity, and financial volatility through long term products, says RM Vishakha, MD and CEO, IndiaFirst Life Insurance .
Sitharaman was responding to a question on stability in the capital gains tax regime amid a rally in the Indian equities markets over the past three years, in a post-Budget interview with Network 18 with Editor-in-Chief Rahul Joshi.
Infrastructure, tourism, defence, consumption and railways are among the key sectors that stand to benefit from the announcements made on February 1, fund honchos say.
Individual tax payers had many expectations from the budget, such as relief in increase in standard deduction, incentives in purchasing electric vehicles, enhanced deductions for health insurance premium, HRA higher deduction for other tier 1 cities, increase in deduction for NPS employer contribution, etc. Some announcements on such deductions/ exemptions and improvements in administrative processes would have offered respite to taxpayers.
ITR filing: The deadline for filing tax returns using ITR-2 and ITR-3 for the FY 2023-24 (AY 2024-25) is July 31, 2024, for most taxpayers. However, individuals who are subjected to income tax audit and have income from business or profession have an extended deadline until October 31.
Experts believe that this could accelerate the infra development activities in the absence of much private capex spending. The Government increased capex outlay to 3.3% of GDP for FY 2023–24, nearly trebling its expenditure in 2019–20
The government’s role in creating a resilient financial ecosystem is crucial for sustainable growth. Additional reforms in the insurance industry are eagerly awaited, as insurance is the business of doing good for the larger society for a better tomorrow.
Budget 2024 kept income tax rates and slabs constant. Also, new and old tax regimes continue to co-exist. The choice between the two would depend on the difference that your tax deductions and exemptions make to your taxable income.
Budget 2024 has laid the foundation for the post-election budget and displayed conviction towards policy continuity, calling the next five years of unprecedented development and golden moments.
From withdrawal of disputed tax demands to proposing a housing scheme for the middle and lower income groups, Budget 2024 had some positives for the common man.
Petty tax disputes involving an amount of up to Rs 10,000 for five years between 2010-11 and 2014-15 will be withdrawn; more than 2 crore disputes concerning tax demands of up to Rs 25,000 will be waived.
The Budget has been neutral for equity markets. But the fixed income market has reacted positively. Falling yields would help the Financials sector and the focus on rural as well middle income housing would help the Housing sector.
The Rs 1 lakh crore corpus with 50-year interest-free loans for tech-driven growth presents a unique opportunity for lenders. This can fuel innovation and accelerate their reach, potentially increasing competition in the lending space.
Several add-on motor insurance covers have been launched by general insurance companies, which offer protection to not just electric vehicle batteries, but even charging equipment, which is in use at public charging points.
The interim Budget 2024 has given a clear signal to bond markets that interest rates will head down. Besides investing in debt mutual funds, you should also try and pre-pay your home loans
Debt fund managers feel that through the Interim Budget 2024, the government has given positive signals for both long duration bond funds such as government securities (GSecs) as also for equity funds in general.
Typically, no major tax measures are announced in a vote-on-account. Despite this, however, individuals and tax experts were expecting some tax sops to be announced in the backdrop of upcoming elections.
Interim Budget 2024: Hike in the TCS (tax collected at source) rate on foreign remittances from 5 percent to 20 percent announced in the last budget is set to be formally incorporated into the Income Tax Act.
Interim Budget 2024: The government has decided to not to tinker with the existing direct and indirect taxation rates.
FM Sitharaman chose to maintain the status quo in the income-tax rates and slabs, refraining from introducing any alterations in either the old I-T regime or the new I-T regime.
Taxation experts were hoping that the government in Interim Budget 2024 would rationalize and streamline the capital gains structure, which is different for different assets such as equity, debt and real estate.
A higher proportion of leave travel allowance is granted with salary increase but the tax benefit is restricted to domestic travel. With enhanced tourism infrastructure, taxpayers can utilise this benefit while travelling within the country.