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MICRO Blog
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EPF Contributions Above Rs.2.5 Lakh: Why That "Taxable Account" Never Really Goes Away
If you're a high-saver relying partly on EPF/VPF to build a large, tax-free retirement corpus, there's a rule that quietly changes the math. The Rule, in Brief Since FY 2021-22, interest on an employee's own contribution to EPF/VPF is tax-free only up to Rs.2.5 lakh per financial year. Contribute more than that in a year, and the interest earned on the excess is taxable in your hands as "Income from Other Sources," with TDS deducted at source. This only applies to the employe
Aug 172 min read
New SEBI guidelines for demat and mutual fund nomination process
Nominations in mutual funds makes transmission easy for the heirs in the event of the unitholder’s death. Existing regulatory guidelines make it mandatory for new folios/accounts opened by an individual in a single name to make a nomination. In case investors do not wish to nominate, they can explicitly opt out and need to confirm […]
Jun 4, 20252 min read
Understanding the new bank nomination rules
As per the recent Banking Laws Amendment Bill passed in both the houses, an individual can appoint up to 4 nominees for their bank accounts or fixed deposits. This is a remarkable change from the previous single nominee system. The earlier rule created problems in efficient transfer of assets, in the event of nominee pre-deceasing […]
Apr 1, 20252 min read
Why it is imperative for a Woman to write her Will?
Women have come a long way battling gender and social biases to establish their unique identity in their own right. Be it working in the corporate world, turning entrepreneurs, inheriting family businesses, making investment decisions, etc. In present times, it is hence all the more critical for women to write their own Will. Estate planning […]
Apr 16, 20242 min read
Avoid setting the wrong expectations with children about your legacy
Recently, a retiree approached me for investment consultation. The first thing she casually asked is if some money should be gifted to her 23-year old son out of the retirement benefits received. Her son had recently started his career in an IT company. This is not a standalone case. It is natural for parents to […]
Nov 29, 20224 min read
The new SEBI rule on nominations in mutual funds – What you need to know
SEBI has directed all mutual fund houses to either get investors, both new and existing, to nominate or specify in a given format that they don’t want to nominate. From August 1 2022 onwards, any new investor planning to invest in mutual funds shall have the choice to provide nomination or to opt out of nomination […]
Jul 11, 20221 min read
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