The NAVs of four of the six closed schemes of Franklin Templeton Mutual Fund shot up on Wednesday following large inflows of interest payments and repayments. The huge upmove has helped shore up the long-term performance of the six funds. The Franklin Short Term Income Plan was the biggest gainer, with a 6.64% rise in the NAV on Wednesday. The fund, which now has the largest AUM among the six closed schemes, has risen 21.5% in the past one year. The Franklin Dynamic Accrual Fund jumped 4.05% (18.48% in past one year) while the Franklin Low Duration Fund saw a…
Author: Miley Selena
From the month of October, i.e. tomorrow, a few rule changes will come into effect that can have an impact on your money matters. Here is a look at the four personal finance-related changes that come into play from October 1. Auto-debit of recurring payments from debit/credit card may fail: October 1 onwards, as mandated by the Reserve Bank of India (RBI), banks and other financial institutions will have to ask customers to provide additional factor authentication if the auto-debit mandate for the payment is above Rs 5,000. With effect from October 1, 2021, under the new additional factor authentication…
The deadline for making demat and trading accounts know-your-customer (KYC)-compliant has been extended by another three months. The Securities and Exchange Board of India (Sebi) has extended the deadline for making demat and trading accounts KYC-compliant to December 31, 2021, from September 30, 2021. As per a circular issued by the National Securities Depository Ltd (NSDL) on September 28, 2021, “Based on the representations received from Participants and as per discussion held with other MIIs and SEBI, it is decided to extend the abovementioned timeline for existing accounts by another three months i.e. December 31, 2021.” The original deadline was…
SynopsisThere is no denying the fact that most of the blue-chip companies have the backing of excellent performance due to which they have reached the top. However, when it comes to maintaining the top position, do they survive for a longer period?An average long-term equity investor is often advised to invest in at least a few blue-chip stocks to give a boost to his non-equity investment portfolio. Every new equity investor who wants to invest in direct equities is advised by experts to invest in a blue-chip company as they are ostensibly considered most safe and a good long-term prospect…
Cryptocurrency, or “crypto” or “tokens”, is all the rage right now. People are buying and using cryptos for varied purposes. Some mine it, that is earn cryptocurrency by solving cryptographic equations with the use of high-power computers, while some use it for buying goods and services, and some even invest in it with a view to earn profits on appreciation of these cryptos or a combination of all the options. Be that as it may, it is important to understand that there could be an “income” on such dealings, and this could be subject to tax. So, under what head…
10 value stocks worth investing in now Read more: EconomicTimes
There has been a steep 63% fall in the number of claims related to heart diseases in the past two years, as revealed by the General Insurance data. Compared with 7,360 claims in 2019-20, there were only 2,737 claims till August 2021. Women have shown a sharper fall in the number of claims at 63.8% compared with 62.4% for men. This aligns well with the findings of a recent survey by ICICI Lombard, which claims that nearly 87% women suffering from heart diseases are regular with their health check-ups compared with 74% men. The survey was conducted among 1,493 people…
To rationalise the tax treatment of employer’s contribution to various retirement funds (i.e., Employees’ Provident Fund (EPF), Superannuation Fund (SAF) and National Pension Scheme (NPS)), a new provision to tax such contributions above Rs 7.5 lakh in the employee’s hands was introduced with effect from financial year 2020-21. Further, any annual accretion on such excess contribution is also now taxable in the employee’s hands. This means that interest, dividend etc. received from the excess contributions will also be taxable in the hands of the employee. Prior to financial year 2020-21, only contributions exceeding Rs 1.5 lakh towards SAF were considered…
UPI stands for Unified Payment Interface (UPI). It allows transfer of money from one bank account to another instantly via one’s mobile phone. Payments can be made via app on mobile device only. Along with the online mode, UPI is also available for non-Internet based mobile devices (smartphone as well as basic phones) in the form of a dialling option, *99#, and is known as USSD 2.0. Here is a look at how you can use UPI without the Internet. What you need to use UPI Some of the commonly used apps offering payments via UPI method are BHIM, which…
Travel restrictions imposed across the country due to the Covid-19 pandemic made the government announce the LTC Cash Voucher scheme in October 2020. This scheme was meant for individuals having LTC/LTA in their salary package who would have been unable to travel and claim income tax exemption on travel tickets due to the pandemic induced lockdown. To enable such individuals to claim their LTC/LTA amount as tax-exempt, the government launched the LTC Cash Voucher scheme. As per the scheme, individuals could claim payment of LTA/LTC as tax-exempt on the basis of submission of bills of specified expenditure during a specified…