An employer pays HRA to the employee to provide for his rented accommodation. (Photo: iStock)

How to calculate HRA? Income tax benefits explained

1 min read . 12:57 PM IST Staff Writer

House rent allowance or HRA is a key component of your salary
You can pay rent to your parents and claim HRA exemption

From this month, auto-debit of APY contributions, stopped till June 30 in the wake of COVID-19 outbreak, has also resumed. (Photo: iStock)

Atal Pension Yojana: You can now change contribution anytime

1 min read . 11:45 AM IST Staff Writer

PFRDA has asked banks to process requests for change in contribution amount anytime during the year
Earlier, Atal Pension Yojana subscribers were allowed to make the change only once in April

Gratuity is a lump sum amount paid by an employer to its employee when she leaves the company after completing a minimum of five years. (Photo: iStock)

Gratuity: Eligibility, how to calculate, income tax exemption and other details

2 min read . 08:45 AM IST Avneet Kaur

Employers not covered under the Payment of Gratuity Act 1972 Act can also pay gratuity to their employees
Gratuity received by a government employee is fully exempt

Photo: iStock

Here’s how students can ease their education loan worries

5 min read . 12 Jul 2020 Disha Sanghvi

For students and recent graduates, repayment of their education loans has become a big problem
Due to the pandemic, RBI announced a moratorium for all term loans, incl education loans, If a relative has a home loan, it could be a good idea to take a top-up on it, use it to repay the education loan

Photo: Reuters (REUTERS)

Ask Mint Money

Exemption for LTA will not be available if you opt for the new tax regime

2 min read . 12 Jul 2020 Parizad Sirwalla

Accumulated PF balance due and payable to the employee i.e. balance to his credit on the date of cessation of his employment, is exempt from tax if he has rendered continuous service for a period of five years or more

Photo: iStock

Moratorium on education loan comes at a cost

1 min read . 12 Jul 2020 Tinesh Bhasin

A moratorium is a period during which the borrower doesn’t need to repay the loan

Photo: AFP (AFP)

What a personal loan costs you

1 min read . 12 Jul 2020 Livemint

Here are some personal loan rates and other costs of the top private and public sector banks in India

Representational image (Photo: Mint)

CBDT tool for banks to ascertain TDS applicability rates on cash withdrawals

1 min read . 12 Jul 2020 Edited By J. Jagannath

Now, the bank/post office has to only enter the PAN of the person who is withdrawing cash for ascertaining the applicable rate of TDS
In case of non-filer of ITR, TDS is deductible at the rate 2% if cash withdrawal exceeds ₹20 lakh and at the rate of 5% if it exceeds ₹1 crore

Currently gold is hovering around ₹49,000 levels in the futures market. (REUTERS)

Gold prices up 25% this year. Should you invest in multi-asset mutual funds?

2 min read . 12 Jul 2020 Avneet Kaur

Multi asset allocation mutual fund is an open ended hybrid fund investing in the three different asset classes with a minimum allocation of at least 10%
The gold allocation in portfolio of multi asset allocation funds ranges between 10% and 28%.

While the policy features and wordings of Corona Kavach are the same across insurers, there’s a stark difference in the premiums. Photo: PTI

Compare the premiums of Corona Kavach policy

5 min read . 11 Jul 2020 Disha Sanghvi

Corona Kavach policy will pay for PPEs, gloves, masks and other similar expenses related to covid-19 treatment

Just like you pay your utility bills through auto debit instructions, you will be able to invest in NPS once the SIP facility is launched.

Soon, you can invest in NPS through SIP facility

1 min read . 11 Jul 2020 Avneet Kaur

SIP in NPS will work just like SIP in mutual funds
SIP in mutual funds is a great way to invest for retail investors

Public sector banks (MINT_PRINT)

Bank FD laddering: How to avoid premature withdrawal from fixed deposits

2 min read . 11 Jul 2020 Avneet Kaur

Bank FD Laddering is a better way to manage liquidity
It also averages out your interest income

Up to 9% interest on fixed deposits (FDs) offered by select small finance banks. (Mint)

These banks offer up to 9% interest on fixed deposits (FDs). Check details

3 min read . 10 Jul 2020 Written By Sangeeta Ojha

The interest rates offered by small finance banks are certainly lucrative, as compared to other top lenders
Always compare the interest rates offered by various banks before investing your money

Gold bonds: Price has been fixed at ₹4,852 per gram

Gold prices up 25% this year. Govt's gold bond closes for subscription today

1 min read . 10 Jul 2020 Edited By Surajit Dasgupta

The issuance date of this tranche of gold bonds has been fixed on July 14
Gold prices have rallied over 25% so far in futures market this year

Photo: Bloomberg.

What does Paytm’s acquisition mean for Raheja QBE’s policyholders?

2 min read . 10 Jul 2020 Disha Sanghvi

Paytm already has a broker license and has been selling insurance products through its platform for a while.
Insurance is a highly regulated industry and there are regulations put in place by Irdai to protect consumer interest.

Photo: Mint (Mint)

Power Point

Active fund management is still relevant albeit for a different reason

3 min read . 09 Jul 2020 Nithin Sasikumar

Active funds need to focus on their ability to drive social change, besides giving alpha

Photo: Mint (Mint)

Ask Mint Money

You can withdraw previous PF corpus if current employer doesn’t support it

1 min read . 09 Jul 2020 Surya Bhatia

Any income accrued over and above is taxable as income from other sources in the year of accrual

Photo: iStock

Beware of card cloning devices when using your ATM card

2 min read . 09 Jul 2020 Nilanjana Chakraborty

Cloning, also known as skimming, refers to the copying of credit or debit card information using software or an electronic device, in order to gain unauthorized access to your account.

The GIC has proposed different rates per day for NABH-accredited hospitals and non-NABH-accredited hospitals based on the severity of the case. Photo: ANI

Hospitals show resistance to standard rates for covid-19 treatment

5 min read . 09 Jul 2020 Disha Sanghvi

The General Insurance Council (GIC) has published a schedule of rates for the treatment of covid-19
Hospitals say the package rates are very low and won't cover the cost of treatment

Excess cash with banks averaged Rs39,700 crore ($6.2 billion) last week, compared to a peak of more than 5 trillion rupees in March, according to Bloomberg Intelligence India Banking Liquidity Index. Photo: Hemant Mishra/Mint

How much tax do you pay on your investment?

1 min read . 08 Jul 2020 Livemint

The Budget 2020 has not made too many changes to taxes, except the abolition of DDT. Here is a look at the various taxes that apply to some of these instruments under categories

Money

Exemption for LTA will not be available if you opt for the new tax regime

Active fund management is still relevant albeit for a different reason

You can withdraw previous PF corpus if current employer doesn’t support it

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