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Personal Finance News

How are succession and legal heir certificates different from each other?

3 Feb 2025, 06:09 PM IST

If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 36th part of this series, Riju Mehta explains the difference between succession certificate and legal heir certificate.

Budget 2025 could start implementing Direct tax code by cutting tax rates, removing exemptions, lay out road map

30 Jan 2025, 12:18 PM IST

Direct Tax code Uion Budget 2025: The news report indicates that the government can bring a new income tax bill in the Budget 2025 session of the Parliament. The new income tax bill is supposed to streamline the current income tax laws, making it easier for lay persons to read and understand.

What does EBITDA mean? How is it calculated?

27 Jan 2025, 06:30 AM IST

If you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 35th part of this series, Riju Mehta explains what the financial acronym, EBITDA, means.

Income tax payers wishlist for Budget 2025: More benefits in new tax regime, higher HRA, other reliefs in old tax regime

21 Jan 2025, 03:40 PM IST

Union Budget 2025: With the Budget scheduled to be released on Feb 1, 2025 and the new tax regime being the focus of the government, major changes in the old tax regime are unlikely. However, if the old tax regime continues for a few years as an alternate regime, a few important changes that have been on the taxpayers' wishlist for a few years, could be addressed.

Will Budget 2025 replace Income Tax Act with new Direct Tax code? Here’s what experts say

20 Jan 2025, 12:01 PM IST

Direct Tax Code vs Income Tax Act: The finance minister is all set to present Budget 2025 on February 1, 2025. There are speculations that the gover

Meticulous budgeting, side hustles: How to manage your money as an international student?

20 Jan 2025, 06:30 AM IST

Students studying abroad should consider their allowance as a fixed amount, from which they need to make judicious allocations for all their essential and discretionary expenses. Having an additional source of income via side hustles can help them further increase the amount of money they have available. Read on to learn how international students can manage their funds effectively.

Retirement should not be compromise, allocate your retirement funds to small joys that light up your everyday lives

20 Jan 2025, 06:30 AM IST

Retirement does not mean that people endure sub-par lives, making martyrs of themselves. It could truly translate to times when they could exercise their choices freely, and allocate financial resources to things that matter the most to them—not in the distant future, but in their present everyday lives.

TCS on sending money abroad is 20% in many cases: Will Budget 2025 reduce this to 5%?

16 Jan 2025, 01:03 PM IST

Reduce TCS on LRS in Budget 2025: Following the amendments made in the Income Tax Act, TCS on sending money abroad in specified cases attracts tax at 20%. There is a need to rationalise the TCS rate where the government collects the revenue while ensuring that there is not too much burden on the common man.

Tax break on buying EV: Will govt bring this interest deduction on buying electric vehicles back in Budget 2025?

15 Jan 2025, 11:41 AM IST

The push towards a greener future and comparatively lower cost of running and maintenance has led to a surge in the usage of EVs, which has seen an increase on a year-on-year basis. Governments worldwide are incentivizing this shift through various tax benefits and deductions.

Dividends are taxed at nearly 50%: Will Budget 2025 reduce income tax rate on dividends?

14 Jan 2025, 12:23 PM IST

Income tax on dividends: The current income tax rules make dividends to be taxed at nearly 50%. The income tax rates are higher than what is levied

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