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An investor has posted his investment journey on social media platform X (formerly known as Twitter), claiming that he grew his portfolio from ₹5 lakh to ₹1.30 crore over a period of seven years. Identified only as “R”, with the handle @AlphaWizarDD on X, the investor said his investing journey began in 2018-19, with ₹5…
Jan Suraaj Party founder and now MLA from Bihar’s Bankipur, Prashant Kishor declared a net worth of around ₹198 crore when he filed his nomination for the bypolls that took place on 30 July. The former election strategist contested and won an election for the first time. As her his election affidavit, Kishor declared movable…
A ₹1 crore life insurance claim took a legal turn after Tata AIA rejected a widow’s claim, alleging that the policyholder withheld some information in the declaration form. The dispute eventually reached the Telangana State Consumer Commission, which examined whether the insurer had enough evidence to justify denying the death benefit. Telangana State Consumer Disputes…
The income tax department announced on Saturday, August 15, that declarations under the Foreign Assets of Small Taxpayers-Disclosure Scheme (FAST-DS) will open tomorrow and can be filed until the end of December. Notifying the rules of the tax compliance scheme, the Central Board of Direct Taxes (CBDT) said that it “enables eligible taxpayers to declare…
The 8th Central Pay Commission (8th CPC) has plans to interact with employee and pensioner associations, federations, unions of central government, UT employees and other stakeholders across the country, as part of its consultation stage. The panel’s decisions are expected to benefit more than 1 crore people, including around 50 lakh central government employees and…
The Dearness Allowance (DA) is an important component of the salary of central government employees and pensioners. It is revised periodically by the government to compensate for changes in the cost of living, with inflation data playing a key role in determining the revised rate. The central government generally revises the Dearness Allowance (DA) twice…
A ₹5 lakh savings corpus can provide an individual with more than just a financial cushion. It can be the starting point of a well-thought-out investment journey. All it takes is proper planning and long-term vision. Still, with options ranging from fixed deposits, mutual funds, gold, bonds, and equities, deciding where to put the funds…
A large chunk of Prashant Kishor’s financial portfolio is parked in fixed deposits, much more than what he has invested in equities. FDs offer the comfort of predictable returns and relatively low risk, but also mean a bigger tax bill as interest income accumulates. So, how much could this FD-heavy strategy cost him in taxes?…
The concept of financial freedom is often associated only with allocating substantial funds and building a large savings corpus. This, along with investing regularly and becoming debt free are considered financial success. Still, true financial independence also means ensuring that an unexpected event does not derail the financial goals you have worked hard to achieve…
The Reserve Bank of India (RBI) has proposed a new methodology for calculating the Marginal Cost of Funds Based Lending Rate (MCLR), under which banks would use a three-month moving average of their marginal cost of domestic deposits and borrowings. The proposal is part of the draft Reserve Bank of India (Interest Rates on Loans…