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From July 2019, RBI stopped levying charges on transactions through NEFT and RTGS.

New RTGS timings from 1 December. Check details here

1 min read . 07:26 AM IST Edited By Sangeeta Ojha

The round-the-clock RTGS facility will be made effective from December 2020
From July 2019, RBI stopped levying charges on transactions through NEFT and RTGS

In view of the ongoing pandemic and the vulnerability of elderly population to coronavirus, EPFO has extended the time limit, says govt

EPFO extends deadline for submission of Life Certificate to 28 Feb, 2021

2 min read . 28 Nov 2020 Edited By J. Jagannath

35 lakh pensioners with EPFO will benefit from this move, says Ministry of Labour & Employment

Any number of accounts can be opened under the KVP scheme.

Double your money in 10 years with this small savings scheme

1 min read . 28 Nov 2020 Avneet Kaur

Currently, KVP offers an interest rate of 6.9% compounded annually.

For total income of more than ₹50 lakh, marginal relief applies in such a manner that the net amount payable as income tax and surcharge shall not exceed the total amount payable as income tax on total income of ₹50 lakh by more than the amount of income that exceeds ₹50 lakh.

Is your total income ₹51 lakh? You pay tax only on ₹50 lakh. Here's how

1 min read . 28 Nov 2020 Edited By Avneet Kaur

If your taxable income is above ₹50 lakh, your marginal tax rate is not just 30%. When you include surcharge and cess, it can shoot up drastically.

CoinSwitch Kuber is the app-only platform which receives all its traffic via mobile devices. (Reuters)

CoinSwitch Kuber allows to gift bitcoin to your friends and family

1 min read . 28 Nov 2020 Avneet Kaur

CoinSwitch Kuber, a cryptocurrency investment platform has recently revamped the design of its Android app for enhanced navigation and introduced new features like gift cards.

EPFO allows subscribers to withdraw money from Employees’ Provident Fund for specific purposes. (Priyanka Parashar/Mint)

Withdrawn money from EPF account? You need to report it in your IT returns

2 min read . 27 Nov 2020 Renu Yadav

Withdrawal of provident fund money for those facing financial stress due to covid-19 is also allowed. An employee can withdraw 75% of outstanding balance in the PF account or three months’ basic plus dearness allowance, whichever is lower, under this relief

Bank FDs is a good option for people with low-risk profile,

These banks are offering up to 7% on bank FDs. Are they worth the risk?

2 min read . 28 Nov 2020 Abhinav Kaul

It is often suggested that investors should look at the overall health of a financial institution before parking their money. However, it will be difficult for a lay investor to check the credentials of a bank

The extra return that fund managers are able to get in large-cap mutual funds is coming down, but is still quite good in other categories of funds. Don’t look at one-year returns, but at least five-year returns to see the extra return over the benchmark. Photo: iStock

In mutual funds, the word 'best' is a complete myth

1 min read . 27 Nov 2020 Sanchari Ghosh

Investment depends on various factors - one's age, profile, financial needs or financial goals and the initial amount for investment.

a senior citizen enjoys relief from payment of advance tax. Photo: Aniruddha Chowdhury/Mint

All about income tax benefits for senior and very senior citizens for AY 2020-21

2 min read . 27 Nov 2020 Avneet Kaur

The exemption limit available to a resident senior citizen is ₹3 lakh ( ₹2.50 lakh for non-senior citizens)
A very senior citizen is granted a higher exemption limit of ₹5 lakh

There is no harm in filing the ITR as it may come handy while making visa application or for applying for home loan. Filing of your ITR helps you keep your records straight. Photo: Pradeep Gaur/Mint

Should you file ITR for income below basic exemption limit?

1 min read . 27 Nov 2020 Edited By Avneet Kaur

Income Tax Act allows a basic exemption limit of ₹2.50 lakh for taxpayers who are below sixty years of age. For those between 60 years and 80 years the applicable basic exemption limit is ₹3 lakh and those over 80 years it is ₹5 lakh.

Small-cap schemes can be considered for the long term, subject to your risk profile (Mint)

Buy a fund with diversified strategy instead of a sectoral scheme

2 min read . 27 Nov 2020 Surya Bhatia

It’s better to let the fund manager take a call on which sector or market segment is worth buying or selling

Experts suggest a cautious approach while investing in closed-end schemes, particularly when valuations are stretched (Mint)

IDFC MF fumbles, asks for rollover for Opportunity Fund

2 min read . 27 Nov 2020 Neil Borate

Experts advise caution when investing in closed-end funds, especially when valuations are stretched

Photo: Mint

NRIs working from India need to keep tax implications in mind

4 min read . 27 Nov 2020 Neil Borate

Your residential status can affect the amount of tax you need to pay in India on salary and investments
You may also have to figure out if your foreign employer credits your salary in a foreign or Indian bank account

Franklin’s plea seeks a stay on redemptions till the Supreme Court decides on the merits of the case or until a unitholders’ meeting is held. Photo: Mint

Franklin plea shows it’s willing to take unitholders’ approval

2 min read . 27 Nov 2020 Neil Borate

The Franklin Templeton plea proposes an electronic vote to be held from 30 November to 2 December in its annexure

The Indian Railways can use automatic railway track cleaning systems, the Internet of Things (IoT) with multiple sensors to monitor employees and tracks, drones to monitor and scan tracks for faults and pilferage, and prevent potential derailments. Photo: Mint

Rlys launches new online facility for employees for PF advance, balance check

1 min read . 26 Nov 2020 Edited By Aparna Banerjea

Railway Board Chairman launched PF Advance module, which enables Railway employees to check their PF balance and apply for PF advance online
HRMS will have a big impact on the functioning of all the employees and will make them more tech savvy, the ministry stated

Zerodha’s co-founder Nikhil Kamath

Zerodha co-founder’s hedge fund clocks 40% return in first year of launch

2 min read . 26 Nov 2020 Neil Borate

The fund’s active hedging strategy when the markets corrected in February and March helped it notch up this year’s high return. Over the longer term, Kamath is targeting a 15% CAGR

Banks have parked ₹6.1 lakh crore of excess cash with the central bank at the reverse repo rate of 3.35% (Bloomberg)

Short-term rates crash in India with funds overflowing with cash

2 min read . 26 Nov 2020 Subhadip Sircar , Bloomberg

RBI governor Shaktikanta Das has pledged to stay accommodative well into 2021 as he tries to dig the economy out of an unprecedented technical recession

For your SIPs, split the amount you have to invest in the following manner: 20% each in Kotak Standard Multicap and Mirae Asset India Large Cap, 10% in UTI Nifty Next 50. (iStockphoto)

Ask Mint Money

Split your emergency corpus between FDs and liquid funds

3 min read . 26 Nov 2020

I have investments in Franklin Templeton Ultra Short Bond Fund and Franklin Templeton Short Term Income, which were shut down in April

Like buying any other property, one has to ensure that the title of the property is clear.

Evaluate these pros and cons before buying a plot

4 min read . 26 Nov 2020 Renu Yadav

Post pandemic, the preferences of homebuyers are changing

People are generally under the impression that the due date is also the last date beyond which you can not submit your ITR, which is not correct. Photo: Pradeep Gaur/Mint

What if you don't file your ITR by December 31? All you want to know

4 min read . 26 Nov 2020 Balwant Jain

In case you fail to submit your current ITR by 31st December 2020, you can still do so by 31st March 2021 but you lose your right to carry forward any losses to set off against the income of subsequent years.

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Split your emergency corpus between FDs and liquid funds

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