It is no brainer that rental payment is a recurring expense. So, it is wise to use your credit card for this expense. Right? Typically, any payment made through a card could be seen as the money on credit. Therefore, one may avoid it as much as one can. But as they say that the…
Since personal loans are unsecured, banks are supposed to exercise due diligence before disbursing loan money to borrowers. Banks typically check the salary slips and the employment history of applicants to determine their creditworthiness. They also check whether the loan amount can be repaid easily in view of the salary indicated on the salary slips….
Citigroup has become a latest entrant to join the competitive luxury credit card market with its new Strata Elite Card. This latest offering is the bank’s attempt to grab a piece of the high-fee, high-rewards credit card market that is currently dominated by American Express’ Platinum Card and JPMorgan Chase’s Sapphire Reserve Card. Strata Elite:…
During the previous financial year, my wife had an emergency caesarean delivery, and the baby was admitted to NICU for 5 days. A bill of ₹74,505 was generated, of which ₹62,833 was approved by the employer. At the time, the hospital had applied for the renewal of income tax exemption status under section 17(2) of…
But tragedies don’t always make global headlines, do they? Sometimes, they strike quietly, in the form of a sole breadwinner’s untimely death, setting the entire household’s standard of living backwards. India has made commendable progress in lifting millions out of poverty. As per the UNDP Multidimensional Poverty Index, India pulled 415 million people out of…
These bonds, named after Section 54EC of the Income Tax Act, 1961, are issued by government-approved entities such as Power Finance Corporation Limited (PFC), Indian Railways Finance Corporation Limited (IRFC), and Rural Electrification Corporation (REC). However, with a fixed return of 5.25% and a five-year lock-in, are they the best use of your money? If…
If you are a mutual fund investor, you must be aware that one of the most feasible and preferred routes of investing is systematic investment plan or SIP. This offers an array of benefits, for obvious reasons. First, it allows the investors to make the most of rupee cost averaging. Under the rupee cost averaging,…
The income tax return (ITR) filing deadline on September 15 is drawing closer. Taxpayers are supposed to access necessary information through a multitude of documents, including Form-16, 26AS and Annual Information Statement (AIS). While 26AS includes information related to TDS (tax deducted at source) and TCS (tax collected at source), all other details pertaining to…
We buy insurance to protect our finances against unforeseen life events such as hospitalisation or a death in the family. However, it’s a reality that insurers reject claims. Policyholders have the option to escalate the issue to the insurance ombudsman or approach consumer courts, which can be both expensive and long-drawn. To ensure faster resolution,…
India’s gig economy has seen a sharp rise over the past five years. According to various news reports, there are approximately 12 million gig workers as of FY 2024–25, up from 7.7 million in 2020–21, now comprising over 2% of the total workforce. This growth—at a compound annual rate of about 17% and a 38%…
