If you invest in debt mutual funds, the recent developments in late March 2023 would have come as a shock to you, even requiring you to relook at your financial plan. What Has Changed? The taxation of debt mutual funds will change, starting April 1, 2023. For the debt mutual fund investments made until March… Continue Reading
While trying to figure out a good home loan product for a client, I stumbled upon these revised interest rates on SBI home loan website. You can read the SBI campaign offer document here. There are a few points that stand out in this interest rate chart. #1 SBI Has Reduced Home Loan Interest Rate… Continue Reading
This may sound strange, but this may indeed be true for many taxpayers. Why? Because the Union Budget 2023 has incentivized the New Tax regime in a big way by reducing the tax rates in the various income slabs. And the New Tax regime does NOT give you any tax benefits for tax-saving investments. No… Continue Reading
Online and digital payments have become increasingly popular in India with the rise of credit cards, debit cards, and UPI. UPI has revolutionized payments in the country and has surpassed credit and debit cards in popularity due to its ease and convenience. To protect yourself, it is important to take steps to secure both your… Continue Reading
With loans, the compounding works in the reverse. If you miss an EMI installment, the overdue amount (which includes the principal) gets added to the principal. And you must pay interest on the overdue interest too. Interest on interest. Sounds like compounding, doesn’t it? Just that it is now working against you. After you default… Continue Reading
The Budget 2023 made multiple announcements that had a direct impact on the middle-class taxpayers. While the most prominent was about the fresh incentives for the New Tax regime, there were quite a few other small yet important takeaways from the budget. One such takeaway was in the form of clarification about disallowing double deduction… Continue Reading
This sounds a bit strange since we usually associate credit cards with overspending and incurring unnecessary debt, which leads to financial strain and difficulty in managing finances. Then, how do credit cards figure here? Well, credit cards can be quite useful if you use them wisely and responsibly. Let’s first look at a question to… Continue Reading
The Finance Minister presented the Union Budget 2023 today. In the past, taxpayers have had big expectations from the Union Budgets but the budget announcement turned out to be a damp squib. Yes, there are always policy changes but not many seem to affect the salaried class directly. The Union Budget 2023 is an exception.… Continue Reading
We have looked at “Buy vs Rent” for a house. In this post, let’s extend this argument to a car. Wait, what, a car? Yes, instead of buying a car, you can rent a car. You buy a new car on loan. You pay EMIs for 3-5 years and for insurance and maintenance every year.… Continue Reading
The Union Budget 2023 is round the corner. Are you ready with your wish list? What do you want from this budget? Lower taxes? Higher tax deductions? Additional tax exemptions? The Budget announcements may not meet all your demands/wishes since the Government must strike the right balance between populism, targeted incentives, and tax collections. Still,… Continue Reading