I took a two-year leave from my job to travel and pursue my interests. Last year, my mutual fund redemption income was ₹5.1 lakh; all these were long-term holdings. The approximate long-term capital gain was ₹2 lakh. Will any tax be payable this year and if so, how will it be calculated? —Name withheld on … Read more
Sending your child abroad for higher education is not an easy task as it costs a lot. Nowadays, affordable options like Ukraine, Russia and China are in the spotlight due to geopolitical reasons. Studying in the US and UK has always been expensive, and other popular destinations like Canada, New Zealand and Australia are increasing … Read more
Let’s face it: You’re not going to work forever. At some point, the daily grind will become exhausting and you’ll need more time for health and family. With life expectancy increasing, you could easily live to be 90, which means 30 years without a paycheck. Now, factor in inflation, which could triple your current expenses. … Read more
Dr. Sarvepalli Radhakrishnan, former President of India and one of the country’s most revered educators, once said, “True teachers are those who help us to think for ourselves.” Teachers’ Day On September 5, Dr. Radhakrishnan’s birthday, it’s important to recognize that every person we meet has something to teach us. The real question is: do … Read more
In a market dominated by non-banking financial institutions, a government bond issued by an Adani group entity is the first by a non-lending company since 2016, when the National Highways Authority of India made an issue. A government bond issue occurs when a company offers them to retail or individual investors. The Adani Group has … Read more
Although this may sound appealing, the program has undergone quite a few changes recently.Mint Provides an overview of the pros and cons of Portugal’s Golden Visa program. The application process Until recently, real estate investment was a popular option for people seeking a Portugal Golden Visa. However, as of October 2023, real estate investments are … Read more
The growing influence of finance Influencersor “fin-fluencers,” on social media has sparked a lively debate about their role in shaping young people’s investment decisions. In a thought-provoking episode of “The ALT View” presented by StockGro, students from IIM Bangalore discussed this emerging phenomenon and its implications with industry experts Ajay Lakhotia, CEO and Founder of … Read more
My son lives in the US, while I live in Pune. My son owns two properties in Pune. Can I pay municipal taxes on his behalf for those properties? —Name withheld on request I assume that your son is a non-resident as he resides in the US. Under the Foreign Exchange Management Act (FEMA) rules, … Read more
The price of luxury and lifestyle For Prateek and Neha, a luxury car like their Mercedes Benz A-Class, which costs 43,000 euros, is a feasible purchase in Luxembourg, far from the high prices ₹55 lakh price for a similar model in Bengaluru. “I would not easily buy a luxury car in India with a higher … Read more
The salary is taxable on the basis of “due” or “receipt”, whichever is earlier. Since he retired in February 2024, the entitlement of the leave was due to him from February 2024 onwards. While section 10(10AA) of the Income Tax Act, 1961 provides an exemption for “payment” for entitlement of leave received, one should read … Read more
