Top Performing NPS Schemes 2023 | Best NPS Fund Managers
ReLakhs By Sreekanth
by Sreekanth Reddy
6M ago
The Government of India rolled out the National Pension Scheme (NPS) for all the citizens of India way back on 1st May 2009, and for corporate sector from December 2011. Since then, NPS has become one of the most popular investment and tax saving options in India. The numbers speak for themselves – The Total assets under management (AUM) with NPS is now at Rs. 8.82 Lakh crore with Y-o-Y growth of 23.45%. The number of subscribers under various schemes under the National Pension System (NPS) rose to 624.81 lakh as at March 4th 2023 from 508.47 Lakh in March 2022 sh ..read more
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How to save Capital Gains Tax on Sale of Gold?
ReLakhs By Sreekanth
by Sreekanth Reddy
6M ago
Gold is not only used for ornamental purposes in India but continues to be one of the most popular forms of investment options with Indian households. As per the RBI data, savings in the form of gold and silver ornaments has increased drastically from Rs 38,446 crore in 2020-21 to Rs 59,675 crore in 2021-22. Gold is also seen as an asset for security to be liquidated in times of any emergency or financial trouble, or to fund any other need that may arise through a gold loan. But at the time of selling the gold, one must keep in mind the tax implications. In particular, sale of g ..read more
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Latest Post Office Small Saving Schemes Interest rates Oct – Dec 2023 | Q3 of FY 2023-24
ReLakhs By Sreekanth
by Sreekanth Reddy
6M ago
The National Savings Schemes (NSSs) are one of the very popular saving schemes in India. These are regulated by the Ministry of Finance. They offer complete security of investment combined with attractive returns. These schemes also act as instruments of financial inclusion especially in the geographically inaccessible areas due to their implementation primarily through the Post Offices, which have reach far and wide. Indian households’ savings in Post office time deposits and PPF (Public Provident Fund) have been increasing steadily since 2011. Below table give us an idea on th ..read more
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A comprehensive list of the most common MONEY mistakes!
ReLakhs By Sreekanth
by Sreekanth Reddy
6M ago
I have been into Financial Planning and blogging for the last 13 years. In this journey, I am lucky enough to meet lot of investors, my clients, friends, well-wishers and relatives. I have observed that each individual’s/family’s financial situations, financial behavior and attitude towards investments risk are very unique and different to each other. May be this is the reason why I have always believed that there is no ‘‘one-size-fits-all” financial plan/investment plan.  That is why it is called as PERSONAL Finance. It is your finances. In all these years, I have observed (obs ..read more
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What are Specified Mutual Fund Schemes? | Meaning & Tax Treatment
ReLakhs By Sreekanth
by Sreekanth Reddy
6M ago
One of the major amendments implemented as per the Finance Bill 2023 is to curtail LTCG (Long Term Capital Gain) benefits by deeming the gains arising from ‘specified mutual funds’ as short-term capital gains (STCG).  What are these Specified Mutual Fund Schemes as per the Income Tax Act? What is the major amendment with respect to the taxation of the gains arising out a specified mutual fund for Financial Year 2023-24 (AY 2024-25)? What are Specified Mutual Fund Schemes as per the Income Tax Act? A mutual fund by whatever name called, where not more than 35% of its total procee ..read more
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NPS Income Tax Benefits FY 2023-24 | Under Old & New Tax Regimes
ReLakhs By Sreekanth
by Sreekanth Reddy
6M ago
The Government of India rolled out the National Pension Scheme (NPS) for all the citizens of India way back on May 1, 2009 and for corporate sector from December, 2011. Since then, NPS has become one of the most popular investment and tax saving options in India. The numbers speak for themselves – The Total assets under management (AUM) with NPS is now at Rs. 8.82 Lakh crore with Y-o-Y growth of 23.45%. The number of subscribers under various schemes under the National Pension System (NPS) rose to 624.81 lakh as at March 4th 2023 from 508.47 Lakh in March 2022 sho ..read more
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Latest BDA E-auction Sep-Oct 2023 | Property Auction Details & Online Procedure
ReLakhs By Sreekanth
by Sreekanth Reddy
6M ago
Bangalore Development Authority (BDA) has come up with new notification for e-auction of residential sites. The last BDA e-Auction was happened during Feb-March 2023. Bidding / e-auctioning can be a hassle-free way to own a property, especially if want to avoid any sort of black money in real estate transactions. Before discussing the details about the Latest BDA E-auction Sep-Oct 2023, we need to understand the difference between BDA e-auction and BDA Allotment Difference between BDA Allotment and Auction BDA has so far formed more than 60 layouts in Bangalore. Bangalore BDA maintains a senio ..read more
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Latest Court Judgements on Women’s Property Rights
ReLakhs By Sreekanth
by Sreekanth Reddy
7M ago
In the recent past, the Supreme Court has been regularly taking a gender-neutral stance on division of property ownership rights between daughters and sons. The judiciary is steadily working to make the ‘succession law’ more accommodating to women.  The Supreme Court and some Hight Courts have recently given some landmark judgments on Women’s Property Rights. These judgements give us valuable insights on; Whether children from invalid marriages can inherit ancestral property. If a Homemaker (Wife) has equal share in Husband’s property Property rights of daughters and daughters-in-law in ..read more
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Know different types of Bonuses under Life Insurance Policies
ReLakhs By Sreekanth
by Sreekanth Reddy
7M ago
Have you ever wondered what are Participating and non-participating Life insurance plans? You might have noticed these terminologies being used in a life insurance policy advertisement (or) product sales brochure. For example, the below picture is an advertisement of an insurance plan called Nav Jeevan offered by the LIC. You can observe that this plan is a non-linked and PARTICIPATING life insurance plan. Participating life insurance plan Similarly, some of the life insurance plans can be non-participating ones, like the one shown below. Non-participating life insurance plan So, what is the d ..read more
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Understanding the concept of Nominee, Legal Heir & Beneficiary | Meaning & Differences
ReLakhs By Sreekanth
by Sreekanth Reddy
7M ago
No human gets to predict when or how they will meet their maker in the end, which is why ensuring the care and protection of our loved ones is one of the most important decisions we must make and execute before a tragedy befalls us. So, what should you do for the smooth transfer of your assets to your beloved one? In order to transmit your financial assets to your loved ones smoothly, you may nominate your intended beneficiaries as nominees and to avoid confusion, the best thing is to make a Will and state the name of your legal heirs or anyone as beneficiaries for every asset in a clear manne ..read more
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