The Economic Times

ETMutualFunds presents recommended mutual fund portfolios for May 2026. These portfolios cater to conservative, moderate, and aggressive investors. They are designed for SIP investments across various amounts. The selection methodology considers rolling returns, consistency, downside risk, outperformance, and asset size for equity, debt, and hybrid funds. This guide helps investors build portfolios for long-term goals.

A Mumbai man faced a tax notice for using Rs 13 lakh cash to pay his credit card bill. He explained the cash as gifts from his wife, father, and mother. The Income Tax Appellate Tribunal Mumbai accepted his explanation for a significant portion of the amount. The tribunal ruled in his favor, partially deleting the unexplained cash addition.

Banks across numerous Indian states will be closed on Friday, May 1, 2026, due to a confluence of holidays. These include Maharashtra Day, Buddha Purnima, May Day (Labour Day), and the birth anniversary of Pandit Raghunath Murmu. While some holidays are state-specific, others are observed more widely, impacting banking operations in many regions.

Salaried employees need to collect Form 123 from employers by April 30, 2026. This form details perquisites like meal card benefits. It is crucial for filing Income Tax Returns for Assessment Year 2026-27. Employers must issue this statement for employees earning over Rs 1.5 lakh annually. This ensures accurate reporting of all benefits received.

Union Mutual Fund has launched its Arthaya Equity Long Short Fund under the new SEBI SIF framework. This strategy aims to generate returns across market cycles by combining long equity positions with selective short exposure, bridging the gap between traditional and alternative investment products.

Gold prices saw a slight dip on April 30, 2026, across major jewellery brands. However, retail rates from the India Bullion and Jewellers Association showed a modest rise for gold and silver. This movement occurred amidst ongoing global geopolitical factors influencing the precious metal markets. Consumers observed varied price points for different gold purities.

NPS charges: PFRDA has issued new clarifications on National Pension System charges. Annual Maintenance Charges for Tier II NPS accounts will now match Tier I accounts. Dormant accounts will incur a 10% AMC charge.

Wipro's share buy-back offers Rs 250 per share, a premium over market price. New tax rules effective April 1, 2026, treat buy-back proceeds as capital gains. This makes tendering shares more tax-efficient for both promoters and non-promoters compared to selling on the open market.

Indian Exchange Traded Funds experienced unprecedented net inflows of over Rs 1.8 lakh crore in FY26. Commodity ETFs, specifically Gold and Silver, drew more investor interest than equity ETFs. This marks a significant shift, with over half of all ETF inflows directed towards these precious metals. This trend indicates investors are diversifying their portfolios using the ETF structure.

A 55-year-old investor targeting Rs 5 crore from a Rs 70 lakh corpus may fall short with a 10% step-up SIP, experts caution. Even with 1314% returns, projections remain below target. Increasing SIP contributions and timely portfolio derisking are critical to improving outcomes and protecting gains near retirement.

An employee fired for Rs 2 lakh embezzlement has won a significant victory in the Supreme Court. The apex court ruled that the employer's inquiry was flawed as it lacked witnesses. Consequently, the employee's dismissal and recovery order were set aside. The employer now has the option to conduct a fresh inquiry within six months.

The Employees Provident Fund Organisation is introducing E-PRAAPTI, a new digital portal. This platform will assist members in finding, tracking, and linking their old or inactive EPF accounts. The portal uses Aadhaar-based authentication for secure access. It aims to benefit employees who worked before the UAN system. This initiative will streamline the process of managing past EPF accounts.

A long family land dispute spanning over 20 years concluded with the Bombay High Court ruling in favor of an adopted son. The court rejected a brother's claim of tenancy over his deceased sister's agricultural lands. The High Court clarified that a brother cultivating his sister's land is considered a family member, not a deemed tenant.

During salary hikes, investors should consider increasing SIPs to beat inflation, boost wealth, and match goals. Step-up SIPs help automate growth, but regular reviews ensure affordability, flexibility, and proper portfolio balance.

Zerodha Fund House CEO Vishal Jain advocates for low-cost index funds and ETFs as the core of long-term portfolios, emphasizing asset allocation for broad exposure and simplicity. He believes passive products offer transparency and cost-effectiveness, making them ideal building blocks for investors navigating uncertain markets.

The Reserve Bank of India has set the premature redemption price for Sovereign Gold Bond 2019-20 Series-VI. Investors can redeem these bonds from April 30, 2026. The redemption value is fixed at Rs 14,931 per unit. This represents a significant return on the initial investment. SGBs are government securities offering an alternative to physical gold.

Short duration mutual funds offer investment opportunities for one to three years. These funds invest in instruments like treasury bills and corporate bonds. They provide a moderate risk profile, less than long-term funds but more than liquid options. Investors seeking stability for short-term goals can consider these schemes.

NRIs must update their Indian bank accounts to NRE or NRO status to comply with FEMA regulations. Failing to do so can result in significant penalties and operational issues. Understanding the differences between NRE and NRO accounts is crucial for managing finances effectively abroad.

Small errors in EPF joining or exit dates can cause major financial problems. These mistakes can delay fund withdrawals and even impact your pension eligibility. Employees must regularly check their records. Correcting these dates is now easier, but prompt action is crucial to avoid future complications. Ignoring these details can create significant roadblocks when accessing your hard-earned money.

Dubai has removed the minimum property purchase value for sole owners seeking a two-year real estate investor residency visa. For jointly owned properties, each investor now needs a minimum share of Dirham 4 lakh. This change significantly eases previous requirements for property investors.

The 8th Pay Commission has extended the deadline for memorandum submission to May 31, 2026, a month after the NC-JCM requested the extension. While the new date accommodates many employee and pensioner groups, the commission will only accept online submissions via a specified link, rejecting all physical copies, PDFs, and emails.

ICICI Bank now allows users to authorize UPI payments up to Rs 5,000 using fingerprint or face recognition on its iMobile app. This feature eliminates the need for a UPI PIN for smaller transactions, enhancing speed and security. The biometric option is available on the latest app versions for Android and iOS.

Mutual fund calculators help investors estimate returns, plan investments, and achieve financial goals through tools like SIP, step-up SIP, SWP, lumpsum, and index calculators. They simplify decisions, improve clarity on growth, and enable disciplined, goal-based financial planning with realistic assumptions.

HRERA, in its April 7 order, ruled in favour of two allottees who had lodged a complaint against M/s KNS Infracon Pvt Ltd and its associate developer in the Capital Gateway project. They had booked a 2,675 sq ft flat each, paid over Rs 1.8 crore.

Vested Finance has transitioned to the IFSCA GAP framework, enabling Indian investors to access US stocks through GIFT City. This move introduces an Indian regulatory layer, ensuring client fund segregation and structured onboarding, enhancing safety and clarity for cross-border investing.

Gold prices experienced a dip on April 29, 2026, as per rates updated by major jewellery brands like Kalyan Jewellers, Joyalukkas, and Malabar Gold & Diamonds. Retail gold rates on IBJA also showed a minor decline, reflecting global market influences on precious metal prices.

Members no longer need to fill any lengthy physical forms, or pay an office visit anymore. All they need to update EPF KYC online is their Aadhaar details and internet. Heres a look at a simple step-by-step guide for updating EPF KYC online and avoiding claim rejection.

FCNR interest remains exempt from tax as long as the depositor qualifies as an NRI or resident but RNOR under Section 10(15)(iv)(fa) of the Act. Once the individual becomes a resident and Ordinarily Resident (ROR), the FCNR interest becomes taxable in India from that date, even if the deposit was opened earlier, Sehgal explains.

A one-time amnesty scheme, the FAST-DS, has been introduced to help Indian residents and NRIs resolve past non-compliance with reporting foreign assets, including ESOPs. This scheme aims to reduce penalties and litigation under the Black Money Act, offering relief for inadvertent reporting errors and missed disclosures.

Banking sector mutual funds held up to 9% of their assets in cash as of March 31, 2026, signalling a cautious stance amid market conditions. Groww Banking & Financial Services Fund topped the list, followed by Taurus, LIC MF, Baroda BNP Paribas, and Mahindra Manulife funds with notable cash allocations.

A recent analysis revealed that thirteen equity mutual funds have delivered over 20% CAGR in both the last three and five years. Among these top performers, seven were midcap funds, four were smallcap funds, one was a multicap fund, and one was a large and midcap fund. These funds represent strong historical performance in the Indian mutual fund market.

Central government employees' representatives met with the 8th Pay Commission, requesting a deadline extension for memorandum submissions to May 31, 2026. Key discussions included the revival of the Old Pension Scheme and proposals for separate meeting times for various employee bodies. The NC-JCM also urged the commission to visit industries like Railways and Defence to assess working conditions.

A Lok Adalat will be held at Surajpur Court in Noida on May 9, 2026. This event offers a chance to quickly settle pending UP police traffic challans and various other cases. Citizens can resolve matters like motor accident claims, matrimonial disputes, and civil cases through mutual consent.

ICICI Prudential Mutual Fund has announced changes in fund managers for two schemes effective May 1, with S Naren exiting both. The Passive Multi Asset FoF and Global Advantage FoF will see revised management structures. The update comes amid ongoing reshuffles within the fund houses portfolio management teams.

A 33-year-old investor's ambitious 14% CAGR target with mutual funds was deemed unrealistic by a financial planner. The expert advised aligning expectations with historical equity returns of 11-13% and suggested consolidating the portfolio for better impact and avoiding over-diversification.

Two significant changes to income tax refund rules are effective from April 1, 2026, impacting Tax Year 2026-27. The Finance Act 2026 clarifies interest computation for past tax years and allows tax refunds to be set off against demands under either the old or new Income Tax Acts, simplifying processes for taxpayers.