Browsing: time

[ad_1] As gilt funds have started looking attractive, investors are gradually betting on them for higher long-term returns. In the six months to June this year, these funds have reported net inflows of Rs 5,530 crore as compared with net outflows of Rs 1,254 crore during the same period last year. Gilt funds are a type of debt mutual fund schemes that invest in government securities issued by the central and state governments of varying maturities. They do not have credit risk but carry interest rate risks. Yields on the longer end are attractive for long-term allocators and investors with…

[ad_1] Income Tax Refund issue time/timeline AY 2023-24: Many taxpayers, who have already filed their returns, are wondering when would they get their refunds (if any) from the Income Tax Department. Some have also been asking this question to the Income Tax Department on social media. The tax-filing system has become faster than it was a few years back. It now just takes a few weeks for the complete processing of returns and issuance of refunds. In my case, I got the refund in 26 days and much before the due date, i.e. July 31, 2023. I filed ITR on…

[ad_1] Talking about the steps taken by the Central Government for Middle-Class taxpayers in the last 9 years, Finance Minister Nirmala Sitharaman on Friday (July 14) said the tax-free income limit under New Tax Scheme has been increased to Rs 7.27 lakh. In Budget 2023, the FM announced that income up to Rs 7 lakh will become tax-free under the New Regime. However, concerns were raised as to what will happen to taxpayers who were earning marginally over Rs 7 lakh. FM Sitharaman said the Government looked into such concerns and now income up to Rs 7.27 lakh under the…

[ad_1] The National Company Law Tribunal (NCLT) has granted approval for the demerger of Jio Financial Services (JFS). The record date for the demerger is set as July 20, 2023, and the listing of the new entity is expected to occur within the next 2-3 months. The effective date of the scheme is July 1, 2023. Under the deal contours: Share Swap: The share swap ratio is 1:1. Every RIL shareholder will receive one share of Reliance Strategic Investments Ltd (RSIL), with a face value of Rs 10. RSIL will subsequently be renamed as JFS. Adjusted Shares Outstanding: Considering the…

[ad_1] Income Tax Return revision time limit and rules 2023: As the Income Tax Return (ITR) filing for AY 2023-24 has started, many taxpayers are wondering whether they can revise the returns filed in AY 2022-23 now. Here’s a quick look at whether it is possible. According to experts at Taxmann, Section 139(5) of the Income Tax Act 1961 allows a taxpayer to file a revised return of income if he discovers any omission or error in the original return. However, the revised return can be filed three months before the relevant assessment year end or before the completion of…

[ad_1] The world of stock markets, with its promise of wealth and prosperity, has unfortunately been marred by several notorious scams throughout history. These fraudulent activities have shaken investor confidence, caused financial turmoil, and resulted in substantial losses. Here are six biggest stock market scams that shook the financial system. Harshad Mehta Scam (1992) The Harshad Mehta scam, an infamous securities scam in India, involved stockbroker Harshad Mehta manipulating the stock market through “circular trading.” He exploited loopholes in the banking system to manipulate stock prices. However, the scam was eventually exposed, leading to a market crash and significant losses…

[ad_1] In today’s uncertain times, individuals naturally strive to grow their savings, meet financial goals, and secure their future. As a result, they seek investment opportunities that offer high tax-free returns with minimal risk. Among the array of options available, Guaranteed Return Plans stand out for their exceptional benefits, providing a stable and assured income with minimal risk. To top that, the impressive guaranteed return of up to 7.5% definitely tips the scale in its favour. However, timing is crucial in capitalizing on this opportunity as the current favourable returns may not be around forever. India, known as one of…

[ad_1] Post Office Fixed Deposit/Time Deposit Interest Rate July-September 2023: The Post Office Fixed Deposit interest rates for the July-September quarter of FY 2023-24 will be announced today (June 30). Post Office Fixed Deposit account holders are hoping for a further hike in the interest rate. However, another hike is less likely as the Post Office Fixed Deposit interest rates for various tenors increased by up to 0.5% in the last quarter. In the April-June quarter of FY 2023-24, the Post Office Fixed Deposit interest rate was increased up to 7.7% (check rates below for the April-June quarter). The Post…

[ad_1] Markets regulator Sebi on Wednesday approved various proposals, including reducing the time period for the listing of shares in a public issue, mandating additional disclosure requirements for foreign portfolio investors and introducing board nomination rights for unitholders of InvITs and REITs. These were among the seven proposals approved by Sebi’s board during its meeting. The board has cleared reducing the time period for the listing of shares in public issues from the existing 6 days to 3 days from the date of issue closure (T Day). “The revised timeline of T+3 days shall be made applicable in two phases…

[ad_1] Gold prices hit their lowest levels in over two months this week. At the time of writing on Wednesday (11.50 am), the price of 24-carat gold across cities was around Rs 6093 per gram while the 22-carat gold was priced around Rs 5585/gram. Early this month, 24 Gold prices had hit an all-time high of Rs 61,490 per 10 grams. Gold prices are, however, expected to recover in months to come. As yellow metal remains one of the favourite investment options among Indians, this article takes a look into how much time gold takes to beat inflation. Any investment…