Meghna Maiti

To avoid late fees, you need to file your Income Tax Return (ITR) for FY 2023-24 (AY 2024-25) by July 31, 2024. If you file after this date, you will have to pay interest under Section 234A and a penalty under Section 234F. However, if you miss the initial deadline, you can still file a belated return before December 31, 2024.

For property investors, especially Non-Resident Indians (NRIs), the Indian real estate market is still a top favorite. Irrespective of where they live, the experience of buying property in India is truly remarkable for the NRIs. As per Foreign Exchange Management Act (FEMA) regulations, they can purchase or own property in India. Working overseas typically brings in a handsome salary, with a large portion often left for investments. NRIs are often confused about a good investment option for them. There are several reasons why a NRI might want to invest back home. While a lot of them want to finally come back and settle in India post-retirement, or after working for a few years. Even if they have no plan to return right now, they keep this investment as a contingency fund in case of unforeseen circumstances. Some NRIs may also wish to invest in India for their families back home. Moreover, investing domestically aids in diversifying and growing your financial assets.

When travelling abroad, there are several ways one can carry money. While one can convert cash into the currency of the country, one can also use credit or debi

Gold has given almost 12 per cent CAGR return and in 2024, gold surged 18 per cent between February 14 and April 12, rising around Rs 20,000 and hitting new all-time highs of around Rs 74000/10 gm on escalating Middle East tensions, Chinese gold rush, record purchases by central banks, concerns over sticky inflation, soaring U.S. government debt, and continued fiat debasement. From the last 20 days, prices have corrected almost five per cent towards Rs 71,000 on profit booking, rising bets of delayed rate cuts, and de-escalating geopolitical tensions.

Parijat Roy, 45, a private sector employee, lives in Kolkata, with his wife and his 70-year-old mother. Apart from the house they live in, they own four more apartments in the same city. While they like living in a house with a bigger space, they have rented out the four other apartments, which give them a steady income for themselves and their family. Now, as Roy is ageing, he is faced with a dilemma: would it be wiser to persist with rental earnings, or they should consolidate their properties by selling them off one after the other and investing the process in mutual funds? “I need to talk to some experts and find out whether selling them off would yield higher returns, even after factoring in the

Want to buy gold on Akshaya Tritiya? Instamart, Blinkit, and other quick commerce platforms will deliver it for you within ten minutes. More details are here.

According to a survey by LocalCircles, the premium for 52 per cent of health insurance policyholders was increased by over 25 per cent over the past year. The survey gathered responses from 11,000 people in 324 districts in India. This is important for those getting a new

In Mumbai, a bustling metropolis known for its congested streets and chaotic traffic, the municipal authorities embarked on an ambitious project to enhance traffic management using cutting-edge technology. As part of this initiative, they introduced automated traffic enforcement systems at major intersections and thoroughfares across the city.

According to the Supreme Court's (SC) recent ruling, under the Income Tax Act, the interest-free or concessional loans provided by banks to their employees will be taxable. Such loans will come as ‘perquisites' or fringe benefits. The SC has said that these loans are considered ‘exclusive advantages' received due to the nature of the employment. The SC ruling comes as a response to a case brought by staff unions and officers' associations of various banks. They challenged the legality of Section 12(2)(viii) of the Income Tax Act and Rule 3(7)(i) of the Income Tax Rules. Employers are required to deduct tax on the value of these perquisites, which fall under the 'salary' head. Failure to do so can result in penalties imposed by the Income Tax department. According to the Income Tax Act of 1961, employer-provided interest-free loans are classified as non-monetary benefits. Additionally, it is classified as salary and is subject to taxation.

The Reserve Bank of India (RBI) on May 8 issued a notice to specific non-bank financial companies (NBFCS), instructing them to strictly abide by the rules of the Income Tax rules on cash disbursal. This move comes weeks after the regulator imposed restrictions on IIFL Finance's gold loans business for breaking this rule, among others.