Personal Finance Print News

Motor insurance: Here is how you can get Rs 15 lakh personal accident cover on buying car insurance

Buyers of new cars and two-wheelers will also now have to mandatorily purchase third-party insurance cover upfront for at least three and five years.

Mutual Funds: Index funds are also subject to equity market-related volatility

Equity index funds invest in stocks by typically replicating a benchmark equity index such as the S&P BSE Sensex, Nifty, etc. They buy all the stocks which are in the benchmark index in the same proportion or weight.

After paperless finance, it’s presence-less KYC now

Fintech is also experimenting with video KYC, wherein via a video app, you complete a liveness check (proof that you’re a living person) through a series of tasks, such as moving your eyes before the camera.

Interest rate bonanza! New, latest rates for PPF, FDs, small savings; here’s what risk-averse investors should do

Risk-averse investors can look at investing in these instruments with the government raising interest rates for small savings schemes.

Five steps to financing your child’s education abroad

To find out the size of corpus needed, add travel costs, living expenses to the tuition fees. Take into account inflation and rupee depreciation too

Giving credit to one who cannot repay will create misery for all, says head of capital markets of Home Credit BV

Home Credit India, a non-banking financial company, focuses on small-ticket loans for purchase of mobile phones, home appliances, etc., primarily to people with little or no credit history.

Mutual Funds: TER cut – Larger equity MF schemes to take big hit

Equity MF schemes with AUM above Rs 20 billion will have to reduce their TER by 15-70bps

National Pension System: PFRDA caps equity mutual funds investment by NPS

The PFRDA guideline on 5% cap on equity mutual fund investment by pension funds will be applicable to all NPS schemes—central and state governments, private sector, NPS Lite and Atal Pension Yojana.

Income Tax: Deduction on tuition fee allowed only if the institute is located in India

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Deduction for tuition fees paid is allowed under Section 80C only if tuition fees is paid to university, college or institution situated within India.

Home insurance scheme on lines of Ayushman Bharat, PMSBY needed to mitigate damage from natural catastrophe

An index-based policy can be announced which will compensate for the damage caused by the natural catastrophe where the triggers of the Nat-Cat event will be predefined.

Fixed income: Know how downgrades impact debt funds

If the downgrade is for short-term instruments, you need not worry too much as maturity of these instruments is one or two months away. If it is for long-term bonds, then check the percentage of your fund’s assets invested in the bonds.

Income Tax: Rental income taxed in hands of that co-owner who paid for property

Exemption from LTCG tax is provided to the taxpayer if he uses the LTCG to buy a property within two years from the date of transfer or construct a property within three years from the date of transfer.

Asset allocation key to handling market risks and volatility

Having a combination of liquid, multi-cap and large-cap portfolio over the investing horizon should be the approach to reap long-term returns.

Why most people still do not feel the need to buy insurance

Low density and penetration indicates that nothing significant has happened for Indians in insurance.

Six tips to reduce your two-wheeler insurance premium

You can go for a three-year policy and save on the insurance premium.

Debt outlook: Crude prices, rupee movements will determine bond yields

Investors need to have a longer time-frame as bond fund returns are not like fixed deposit returns and can remain highly volatile or even negative in a shorter time-frame

Art, wine & classic cars: Bet on these luxury assets

Art works top the Knight Frank Luxury Investment Index in 2018 followed by wine and classic cars

Mutual funds: Stick to SIPs even if market remains volatile

While market volatility remains the most important risk in equity investment either directly or through mutual funds, one should look at equity investments for the long term

Life insurance: You can buy reducing term insurance to cover your home loan

A life insurance policy is considered as a contract and all the terms and conditions at the time of purchase are considered sacrosanct.

Equity outlook: Rising crude prices, rupee depreciation are concerns in the near term

During the month of August, S&P BSE Sensex rose by 2.88% on total return basis. Mid-cap and small-cap indices which were under pressure for the past six months recovered well. S&P BSE Midcap index increased 5.62% while S&P BSE Smallcap index appreciated 3.84% in August.

Stock markets: Should you invest in a debt-free company? Here is the answer

Investors should not only look at whether a company is debt-free or debt-heavy but also other factors such as nature of the industry, business model and its potential to survive in the long run, financial history and earnings multiple

Income tax: You can buy second flat to get LTCG exemption on sale of old house

Form 31 is for withdrawal of PF upto a certain limit from contributions made in present job.

Three essential steps to ensure success of a well-written financial plan

It is an illusion that a well-written financial plan will automatically bring financial success. Investors, at times, underestimate the challenges they need to overcome when executing their plan.

Claiming insurance after Kerala floods? Here’s how to do it

It’s always better to register the claim immediately with whatever documentary evidence that can be provided to the insurers.

Incentivising ‘quality orders’ of CIT(A): Is it fair?

Quality orders as per CBDT Action Plan include cases where enhancement has been made by the CIT(A) or where the order under appeal has been strength-ened by the CIT(A) or penalty u/s 271(1) has been levied.

IRDAI recommends that individuals be allowed to shift from being insurance agents to insurance service providers

An Irdai panel has suggested that list of products to be sold via an insurance marketing firm should include group insurance products and combi-products

From opting for systematic withdrawal plan to buying health insurance; know how you can help your parents financially

From opting for systematic withdrawal plan to buying health insurance for your parents, work out a plan to help them.