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A bank’s refusal or delay in returning money from a matured fixed deposit can leave depositors in a difficult position. A recent Kerala High Court ruling has highlighted that banks handling public funds have a responsibility to make timely payments to depositors. The case involved a Thrissur depositor whose ₹5 lakh fixed deposit matured in…
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has upheld an income tax demand and penalty under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, after an Indian taxpayer failed to disclose a foreign bank account and shares held in a UAE-based company. About the Case Ashok…
Wealth management is often reduced to simply choosing the right financial products for a portfolio and tracking short-term returns. But, true advisory extends far deeper into family governance, legacy stewardship and long-term values. This core philosophy took centre stage in the latest episode of Let’s Mint Money, brought to you by Waterfield Advisors and Mint,…
The Employees’ Provident Fund Organisation (EPFO) has issued 1,49,806 pension payment orders for higher contributions to retired applicants in line following the November 2022 Supreme Court order, PTI reported. This was shared by Shobha Karandlaje, Minister of State (MoS) for the Ministry of Labour and Employment, in a written reply to Lok Sabha this week….
The Delhi High Court has reduced the interim maintenance for a wife. This concerns a matrimonial dispute between Ashutosh Rai Asthana and Yamita Rai Asthana. The couple married on 2 November 1995 and had two children. Following marital differences, the wife filed for maintenance in 2021. The Family Court initially granted her ₹25,000 monthly interim…
Retail investors are flocking to corporate bonds but relying too heavily on credit ratings. Experts say ratings miss default, liquidity and price risks.
If you have a bank account you haven’t used in years, it may be the right time to check its status. This is because the Reserve Bank of India (RBI) regularly advises bank account holders via text messages, emails, and official press releases to monitor their unused bank accounts and ensure they remain active and…
Delayed possession is one of the most common grievances faced by homebuyers, often forcing them to wait years beyond the promised delivery date. This may become a financial burden for the homebuyer, especially if they are paying home loan EMIs while continuing to live in a rented house and paying rent. If such a thing…
When a company deducts money from an employee’s salary towards the Employee’s Provident Fund (EPF) and adds the matching employer contribution, the amount must be deposited with EPFO by the 15th of every month. EPF is a government-backed savings scheme, in which both employee and employer contribute 12% each of the employee’s basic salary and…
Many non-resident Indians (NRIs) continue to invest in Indian equities and mutual funds to maintain exposure to the country’s relatively diversified market, with representation across FMCG, information technology, automobiles, oil and gas, financial services and pharmaceuticals. NRIs and overseas citizens of India (OCIs) are allowed to invest in Indian securities, though the process comes with…