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Any gain or loss arising from sale of ELSS funds held for a period of more than 12 months prior to their sale is considered as long-term capital gain (LTCG) or long-term capital loss (LTCL).

How does ELSS taxation change if primary holder dies?

2 min read . 28 Apr 2024

One should not dip into the retirement corpus for any reason, especially to meet discretionary expenses.

Target net savings of 35% of pay for a corpus of ₹5 crore by age of 60

2 min read . 17 Apr 2024

The maximum deduction is restricted to the amount of LTCG earned from sale of original property.

LTCG deduction available if the gains are used to buy properties

1 min read . 16 Apr 2024

Regular reviews and updates to the succession plan are essential to adapt to changing circumstances and dynamics within the family and the business.

What should be done for smooth transition of family business?

1 min read . 30 Jan 2024

Rule 12 of the Income Tax Rules, 1962, prescribes the applicability of appropriate income tax return forms for an individual depending upon the type of income and other criteria.

Is TDS necessary on advance paid to NRIs?

2 min read . 22 Jan 2024

Additionally, expenses related to physiotherapy and attendant care may also be claimed as medical expenses. (iStockphoto)

Can I claim tax benefit on medical costs?

2 min read . 21 Jan 2024

Top Mutual Funds for 2024 Retirement Plan : Equity mutual funds offer a better way of investing as they are full-time managed by professionals and the portfolios are well diversified. (iStockphoto)

Which mutual funds in 2024 will help me meet my retirement, other goals?

1 min read . 10 Jan 2024

Apart from long-term chronic diseases that develop with age, young individuals have significant incidence of severe illness and death due to infectious diseases and cancer. ( iStockphoto)

Should I buy double accidental death insurance or a life cover?

2 min read . 04 Jan 2024

The Employee Provident Fund (EPF) Act and Scheme does not impose any restriction with regard to the timeline till which a member may keep EPF membership and thus remain invested in the Fund. (Pixabay)

What is the taxation on withdrawal of PF?

2 min read . 24 Dec 2023

The builder-buyer agreement typically allows the inclusion of heirs, executors, and administrators of the allottee or purchaser.

Can a nominee be included in a builder-buyer agreement?

1 min read . 20 Dec 2023

Being late on credit card bill payments or missing a payment is one of the biggest contributors to a bad credit score.

How can I maintain a good credit score?

2 min read . 17 Dec 2023

The mandate to submit an FIR depends on multiple factors related to the accident. (iStockphoto)

How do you claim insurance if FIR is pending after accident?

2 min read . 14 Dec 2023

The excess amount over the face value represents expenses incurred for earning the interest income and therefore can be claimed as a deduction. (istockphoto)

How is the profit on my bond sale taxed?

2 min read . 10 Dec 2023

One should consider the specific health needs of the family members.

Should I opt for deductibles to reduce insurance premium?

2 min read . 07 Dec 2023

A resident individual is permitted to gift money to non-resident Indians (NRIs) or persons of Indian origin (PIOs) by remitting it in their NRO accounts.

Is there any way to gift money to a non-resident Indian friend?

1 min read . 06 Dec 2023

While it is good to start with index funds, as you gain confidence, creating a blend of index and actively managed funds can help to generate better returns in the long term. (iStockphoto)

Will index funds give me better returns?

1 min read . 04 Dec 2023

Your vehicle’s damages would fall under OD coverage, which provides financial protection against accidents, fire, theft, natural disasters, and negligence.

How does third-party car insurance help?

2 min read . 03 Dec 2023

Documents such as registered gift deed, copy of bank statements showing the transfers, etc. may be maintained for income-tax purposes.

What is the taxation on any gift via cash transfer to a relative?

2 min read . 30 Nov 2023

A lease is governed by the provisions of Transfer of Property Act, 1882, and the interest in the subject property is transferred by the transferor, therein called the lessor, to the transferee, therein referred to the lessee. (iStockphoto)

How is property leased out with a leave and licence agreement?

1 min read . 28 Nov 2023

Indian citizens have many options for investing abroad. For one, they can put their money in mutual funds that invest outside of India.

How do you invest in GIFT City ETFs?

1 min read . 27 Nov 2023