Tax setback for debt mutual funds: What investors can do now?
On Friday, the government amended the mutual fund rules in Finance Bill 2023, wherein debt mutual fund investors will no longer receive a tax benefit on long-term capital gains after April 1. The change in the tax treatment on debt mutual funds comes into effect after the Lok Sabha passed the Finance Bill 2023 on…
Read article
RBI directions to Banks: Govt. accounts reporting window of March 31 shall be kept open till 12 noon on April 1
RBI on Tuesday notified that all government transactions done by agency banks for 2022-23 must be accounted for within the same financial year. All agency banks should keep their designated branches open for over the counter transactions related to government transactions upto the normal working hours on March 31, 2023, said RBI. It further said…
Read article
Bank depositors must know these DICGC claim settlement rules
The depositors of all Banks including branches of foreign banks functioning in India, local area banks and regional rural banks, and all State, Central, and Primary cooperative banks,(also called urban cooperative banks) are protected under the deposit insurance scheme of DICGC. The DICGC insures principal and interest up to a maximum amount of five lakhs.…
Read article
Forex arbitrage and Interest arbitrage explained
When an entity taking advantage of two or more markets of a price difference goes for simultaneous purchase and sale of a financial instrument on different markets. This is called Arbitrage. The trader involved in arbitrage makes a profit from the difference in prices at different markets. In our previous article ‘WHY ARBITRAGE FUNDS RANK…
Read article
Why arbitrage funds rank high when it comes to safety?
Who can assure you of the guaranteed return on your investment in the equity market? Undisputable, no expert investor in the equity market can guarantee that you will make a profit from every transaction you enter into. Therefore, those investors who do not want to take the risk go for investing in arbitrage funds which…
‘AIS for taxpayers’ app launched for all your tax related needs
The AIS app is a free mobile application, launched by the income tax department and is meant to provide a comprehensive view of the Annual Information Statement (AIS). It offers a collection of information about a taxpayer. The information provided by the ASI includes interest, dividend, mutual fund transactions, securities transactions, foreign remittance information, and…
Read article