Mandatory linking of Aadhaar with Mutual Funds

As per the recent amendments to Prevention of Money-laundering (Maintenance of Records) Rules, 2005, it is mandatory for investors to link their Aadhaar with their Mutual Fund folio(s) on or before March 31, 2018, failing which investors will be unable to carry out any transactions in the folio. In this regard, the Aadhaar can be updated by your…

Income Tax Exemption Updates : For FY: 2016-17

80 C : Max limit  : 150000/- MF-ELSS, Pension Plans, Life Insurance, PF, PPF etc 80CCD : 50000/- NPS 80CCG : 25000/- or 50%  of your investment which ever is less  80D : 25000/-  Mediclaim Policy for self spouse, children  80D : 30000/- for dependent parents u/s-80D.  Medical reimbursement :- 15000/- US 17(2) 80DDB : Medical expense occurred…

Iron Rules of Money

Don’t leave home without these. No matter who you are, how much you earn, or how you invest, a few truths apply to you and your money. Spending money to show people how much money you have is the surest way to have less money. Singer Rihanna earns tens of millions of dollars, but found herself…

What is FATCA ? (Foreign Account Tax Compliance Act)

On July 9, 2015, U.S. Ambassador to India Richard Verma and Indian Revenue Secretary Shaktikanta Das signed an agreement to implement the Foreign Account Tax Compliance Act (FATCA). The agreement is designed to increase transparency between the two nations on tax matters. The agreement takes effect September 30 and underscores growing international cooperation to end…