She got married a month ago. And she is proud of the fact that she took care of a part of her wedding expenses with her investments in debt mutual funds. Apurva Bhosale, a 27-year-old IT professional from Pune, started investing in mutual funds like most others: via tax saving or ELSS mutual funds. Bhosale’s brother asked her to meet Deepali Sen, Founder, Srujan Financial Advisers LLP, a Mumbai-based wealth management firm, to finalise her tax-saving investment. Bhosale met Sen in 2016. She remembers talking to Sen about her investments in LIC and bank fixed deposit. “Why should I take extra risk when I am getting guaranteed returns in LIC and fixed deposit,” Bhosale remembers asking Sen. Sen remembers telling Bhosale about the impact of inflation on her money and how it would lose value over time if she stuck to traditional investments. Deepali Sen asked Bhosale to invest in ELSS to save taxes under Section 80C of the Income Tax Act, and Bhosale made her first … [Read more...] about How a 27-year-old IT professional from Pune financed her wedding with tax saving
Municipal bond funds tax free
For long, the Union Budget was more about which goods became costlier and which ones dearer, depending on the tax changes the government of the day would bring about in order to mop up the revenue required for a financial year. Even since GST rollout, merging various levies into one single tax, the Union Budget ceased to have any say on the indirect tax regime, barring import duty. The Budget now is all about direct taxes, which mainly include income tax and its variance. Here is a lowdown on the taxes that you will get to hear in the Budget speech: What is direct tax in Budget?Direct tax is charged on income, salary or profits of an individual or corporates. In the case of direct tax, the burden can’t be shifted by the taxpayer to someone else. These are largely taxes on income or wealth. Income-tax, corporation tax, property tax, inheritance tax and gift tax are examples of direct tax. What is indirect tax?Indirect tax is a levy where the incidence and impact of taxation … [Read more...] about Budget and taxes: How they pinch you?
Ain’t Them Bodies Saints: David Lowery’s crime drama stars Casey Affleck and Rooney Mara. When the couple are caught for illegal activities, Bob takes the blame and goes to prison. Four years later, he breaks out and promises to reunite with his family but there are three bounty hunters on his trail. … [Read more...] about Kanopy: The free streaming service with amazing movie collection
NEW DELHI: Budget 2020 is expected to give a renewed push to disinvestment and asset monetisation as the government strives for capital creation and investment promotion in the economy by augmenting non-tax revenue. A top official told ET that the budget is likely to relax long-term capital gains tax and dividend distribution tax norms, besides setting a clear road map for the government to sell or significantly cut its stake in select PSUs and giving the proceeds to other shareholders for funding their capex. “The focus will be to create more space for private sector through disinvestment and asset monetisation,” the official said. Finance minister Nirmala Sitharaman will present the Union Budget on February 1. “Disinvestment proceeds from listed PSUs with other stakeholders cannot be sent to the Consolidated Fund of India. This money should go back to them to help fund their expansion plans,” the official explained. NITI Aayog had proposed disinvestment … [Read more...] about Budget 2020: Renewed push likely to asset monetisation, disinvestment
International Monetary Fund on Tuesday urged policymakers to keep a close eye on financial vulnerabilities such as rising debt levels that could pose medium-term risks to the global economy and said further monetary easing was not the answer.The global lender's most recent economic outlook forecasts a slight rebound of global economic activity this year and next, albeit to a lower level than previously forecast, after global monetary easing helped shore up growth in 2019. The IMF said that global growth would have been 0.5 percentage point lower without last year's actions, the largest combined number of policy rate cuts in advanced and emerging-market economies since the 2008 global financial crisis.But further easing of global financial conditions at this point in the economic cycle and rising financial vulnerabilities could threaten growth in the medium term, Tobias Adrian, director of the IMF's monetary and capital markets department, and Fabio Natalucci, his deputy, wrote in a … [Read more...] about IMF sees medium-term risks to global economy