The FinTech Hub
Source: Live Mint The recently announced budget introduced significant personal finance changes impacting taxpayers and investors. One of the key updates involved Unit Linked Insurance Plans (ULIPs). It has been clarified by the Finance Ministry that if the annual premium exceeds ₹2.5 lakhs the redemption becomes subject to capital gains tax. ULIPs that are held for…
Source: Live Mint In addition to lowering income tax payable by individuals, Budget 2025 gave citizens relief by raising the threshold for tax deducted at source (TDS) and removing conditions on declaring a second house as self-occupied for tax purposes. The changes on TDS will benefit senior citizens as the paperwork they need to complete…
Source: Live Mint This is the time of the year when employees are busy submitting investment proofs to their employers. Essentially, investments are meant to be declared to the respective employers during the year and one must submit the proof of investment in order for the employer to deduct TDS (tax deducted at source) accordingly. Meanwhile,…
Source: Live Mint My sister and I inherited a property from our mother in in 2020. I’m a US citizen with an Overseas Citizenship of India (OCI) card, while my sister lives in India. Both of us are now selling the property to an Indian. The buyer has requested my PAN details to deduct TDS….
Source: Live Mint Here’s everything you need to know about it. Investments LRS allows Indians to invest in listed foreign securities – both equity and debt. You can invest in mutual funds, exchange traded funds (ETFs), venture funds, and real estate (with some caveats). You can also invest in listed debt securities such as bonds,…
Source: Live Mint The Bombay High Court has recently held that employees cannot be penalised for employer’s failure to deposit tax deducted (TDS) from salary. “The object and purpose behind the provision is to the effect that when an obligation to deposit the tax as in the present case, is on the employer and if the…
