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Elections 2026Personal Finance / The Economic Times
New rules under the Income Tax Act 2025 are set to curb tax evasion by limiting cash transactions. Individuals cannot receive over Rs 2 lakh in cash from one person daily. Loans, deposits, and repayments exceeding Rs 20,000 must be cashless.
Income Tax Return (ITR) filing for the assessment year 2026-2027 sees a significant update with a new 'Other Income' column under the Exempt Income Schedule. This allows taxpayers to voluntarily disclose non-taxable receipts that don't fit specific categories, like rural agricultural land sales or gifts from relatives. Experts advise this proactive reporting to prevent potential tax notices and mismatches with departmental records, especially for substantial transactions.
Senior citizens can now secure a steady income with the Senior Citizens' Savings Scheme (SCSS), which offers an attractive 8.2% interest rate. To generate approximately Rs 50,000 quarterly, an investment of around Rs 24.40 lakh is required.
Learn how to calculate the monthly investment needed to build a Rs 1 crore corpus using Excels PMT function or a manual formula. The guide explains assumptions, calculation steps, and how changing returns, goals or timelines affects required investments for better financial planning.
EPFO: The EPF 2026 Scheme largely retains existing EPF contribution rules, with both employees and employers continuing to contribute 12% of wages, subject to the statutory wage ceiling. It also preserves the VPF framework, allowing employees to make higher voluntary contributions without requiring employers to match them, while offering flexibility to discontinue them later.
A total of 12 equity mutual funds delivered an XIRR of over 15% on SIP investments over the last three years, according to an ETMutualFunds analysis of 255 schemes. Midcap and small-cap funds dominated the list, while just two funds posted negative SIP returns during the period.
The Odisha High Court has ordered the state government to release pending salary for an employee denied wages for over three years due to a stalled disciplinary case. The court emphasized the right to livelihood under Article 21, stating that withholding salary infringes upon basic human dignity. This landmark ruling ensures the employee receives dues, while the disciplinary proceedings continue separately.
The 8th Pay Commission is actively consulting stakeholders across India, recently holding discussions in Bhubaneswar and planning for Kolkata. Notably, the commission intends to conduct firsthand inspections of Indian Railways' operations, including track maintenance, signal work, and train control, to better understand employee working conditions and risks before salary revisions. Railway technical supervisors are advocating for broader operational inspections to ensure a comprehensive review.
Gold prices saw a slight dip today, July 6, 2026, Check 22k jewellery rates at major retailers like Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers, and Joyalukkas. Consumers are advised to check the latest rates before purchasing.
The Employees' Pension Scheme (EPS), 2026 has replaced EPS-1995 and the Employees' Family Pension Scheme, 1971 under the Social Security Code, 2020. Despite the new scheme, the minimum monthly EPS pension remains unchanged at Rs 1,000, the same as since September 1, 2014.
Nearing retirement and confused between bank FDs and SWPs for monthly income? An expert suggests a balanced approach. Instead of picking just one, combine safe instruments like FDs for immediate expenses with hybrid or equity funds for growth.
A Chennai resident successfully reclaimed his Section 54 tax exemption after a three-year construction delay on his new home, initially denied by the tax department. The Income Tax Appellate Tribunal (ITAT) ruled in his favour, citing the COVID-19 pandemic as an extraordinary circumstance beyond his control. The tribunal emphasized a liberal interpretation of the beneficial provision, allowing the exemption despite minor delays in finalising construction.
Sovereign Gold Bond (SGB) 2020-21 Series-IX investors can now redeem their bonds prematurely from July 4, 2026. The Reserve Bank of India has fixed the premature redemption price at Rs 14,366 per unit, reflecting a significant 190.22% return on the initial investment.
AlphaGrep Mutual Fund has launched its first fund, the AlphaGrep Multi Asset Allocation Fund, employing a unique algorithm-driven approach. This open-ended scheme dynamically allocates capital across equities, fixed income, and commodities, aiming for better risk-adjusted returns with minimal human bias. Experts weigh in on the merits of algorithmic versus traditional multi-asset strategies, highlighting the importance of a long track record and individual investor control over asset allocation.
Several organisations representing central government employees and pensioners have urged the 8th Pay Commission to revise HRA, transport allowance, family unit norms and dearness allowance.
Mid-cap mutual funds have seen a strong rally, leading to investor anxiety about current valuations. While these companies offer potential for future growth, they also carry significant risks, including corporate governance issues. Investors with high risk tolerance and a long-term horizon (7-10 years) are advised to proceed with caution, focusing on regular investments rather than quick gains. Several mid-cap funds are highlighted for their recent performance.
Indian banks are significantly reducing their reliance on short-term debt sales, known as certificates of deposit (CDs). This shift is driven by the Reserve Bank of India's initiative to attract foreign-currency deposits, offering a cheaper and more stable funding alternative. Lenders anticipate this trend to continue, impacting CD rates and strengthening their balance sheets with more durable capital.
Bank holiday today: Banks will remain closed in select states on July 6, due to regional observances, while they will function as usual in the rest of the country. Here's a look at where banks are closed today and the reason behind the holidays.
Welcome to TrendMap, your guide to the performance of different investment segments. In this edition, we present a 10-year performance tracker of various factor-based investment strategies. The annual returns are ranked for 6 key NSE Factor indices, with a broad-based index, Nifty 500, thrown in for comparison. This map shows that no single-factor strategy consistently outperforms, making a strong case for diversification. By Sameer Bhardwaj.
If you are confused by personal finance terms, jargon and calculations, heres a series to simplify and deconstruct these for you. In the 110th part of this series, Riju Mehta lists the legal certificates that are crucial for home ownership.
An investment must first stand up as an investment, and be a tax-saver only by accident. However, this problem has now solved itself. The new tax regime, now the default and chosen by close to three in four taxpayers, has done away with such deductions. Where there is no Section 80C to chase, there is no reason to go shopping for the bad product in March.
Strong revenue growth, rising data demand and a landmark Jio IPO signal a favourable sector outlook.
In the United States, those graduating in the 21st century especially have been seeking to return to the homes of their boomer parents. In India, in contrast, living with parents has remained a default option for young adults until they get married or move to another city for a joban arrangement that isendorsed by tradition.
Foreign universities are now opening campuses in India, offering Indian students a chance to earn international degrees without leaving the country. This influx is driven by India's large student market and policy changes. While offering a more affordable global education, these campuses present fewer course options and facilities compared to their parent institutions abroad.
With tech employees holding up to 80% of their net worth in a single stock, advisers say not selling is a real danger.
Miscounted days in India, missed NRO interest and TDS mismatches can invite notices from a data-savvy tax department.
Many Indians stretch finances for dream homes, but hefty home loans lead to years of uncomfortable choices. Borrowers face lifestyle compression, career stagnation, and deferred savings, impacting family life and personal well-being. Experts urge homebuyers to prioritize true affordability over aspirations, stressing that a loan should enhance life, not dictate it, by considering future uncertainties and maintaining financial flexibility.
Investors have a busy week ahead with six new mutual funds launching. Mirae Asset, NJ Mutual Fund, Edelweiss, and AlphaGrep are introducing a mix of passive and actively managed schemes. These new offerings aim to broaden investment choices, with subscription periods starting as early as July 6th and minimum investments as low as Rs 500. Explore these new avenues for your portfolio.
Quant Mutual Fund expects Indian equities to consolidate after the recent rally but believes micro-, small- and mid-cap stocks will drive alpha. It remains bullish on energy, infrastructure, select financials, telecom and pharma while advocating active portfolio management over passive investing.
Senior citizens can now secure fixed deposit interest rates up to 8.3% for a three-year term with select small finance banks, offering a lucrative opportunity for savings. While deposits are insured up to Rs 5 lakh, experts advise caution. TDS is deducted if FD interest exceeds Rs 1 lakh annually, but eligible individuals can avoid this by submitting Form 15H.
Eleven equity mutual funds generated over 25% returns in the past three months, led by small-cap schemes. JM Small Cap Fund topped the list with a 35.02% gain. Experts advise investors to prioritise risk profile and goals over past performance.
Despite recent underperformance, experts continue recommending Parag Parikh Flexi Cap Fund for its consistent long-term, risk-adjusted returns and disciplined large-cap bias. They advise investors to evaluate funds over complete market cycles instead of chasing short-term performance or recent category leaders.
Choosing mutual funds solely on past returns can be misleading. ETMutualFunds shortlisted 10 funds across five equity categories using rolling returns, consistency, downside risk, outperformance and asset size, helping investors align investments with their goals, risk appetite and time horizon.
A Delhi landlord, busy caring for his ailing father, missed the deadline to e-verify his income tax return, leading to a denied Rs 17 lakh refund. The Income Tax Appellate Tribunal (ITAT) Delhi intervened, ruling that withholding the refund on a technicality would amount to unjust enrichment. The tribunal emphasized that tax can only be collected by law, allowing the landlord to claim his rightful refund.
A father cannot legally sign away his daughter's rightful share in ancestral property to his son, the Andhra Pradesh High Court has ruled. Under Mitakshara Hindu law, daughters hold an independent interest in coparcenary property, which a father cannot relinquish. This ruling clarifies that such deeds only affect the father's personal share, not other co-sharers' rights. Self-acquired property, however, remains at the owner's disposal.
Husband worked in Oman and could not talk with late wife; Wife committed suicide by saying refusal to speak to her over the phone caused her severe mental distress; Indian Trial Court convicts him for cruelty under Section 498A and 304B for dowry death and sentences 3 years jail with Rs 10,000 fine; Supreme Court gives him relief from jail by cancelling all the criminal charges
Gold prices have seen a notable recovery this week, with both gold and silver rates climbing according to the India Bullion and Jewellers Association (IBJA). This upward trend follows a dip experienced last week. 22k gold jewellery rates at leading brands such as Tanishq, Malabar Gold & Diamonds, Kalyan Jewellers and Joyalukkas also rose.
Gold and silver prices have seen a significant dip on the MCX, prompting questions for investors. Experts attribute the fall to a strong dollar, potential Fed rate hikes, and profit-booking. While a recovery is possible with macro triggers, analysts suggest a cautious approach. New investors might find opportunities to accumulate, while existing holders are advised to view this as a consolidation phase, potentially rebalancing their portfolios.
Navigating bank operations on Saturdays can be tricky due to varying regional holidays. Remember, banks observe closures on Sundays and the second/fourth Saturdays, but remain open on others unless a specific holiday is declared. While digital banking offers convenience, certain essential services still necessitate a branch visit.
Years of diligent wealth building can be lost to forgotten investments. Life's changes often lead to unclaimed bank deposits, insurance, shares, and mutual funds. Fortunately, the government's Unclaimed Assets Portal offers a single search point. While it helps locate these assets, remember it's a search tool, not a claim settlement system. Recovering your money requires a separate process with the relevant institution, even if funds were transferred to government-managed accounts.
The Wealth Company Asset Management, part of Pantomath Group, has appointed Unmesh Kulkarni as its Managing Director. With 29 years of experience in wealth management and capital markets, Kulkarni previously co-founded Merrill Lynch and Julius Baer's wealth management arms in India.
Paytm's European arm, Paytm Europe Payments, has secured a crucial payment institution license from Luxembourg's financial regulator, effective July 2, 2026. This approval allows the company to offer a range of payment services, including fund transfers and credit line-backed transactions. The move follows a significant investment by its parent company, One 97 Communications, to bolster the European entity's capital and support its business expansion.
Six small cap mutual funds delivered over 15% returns in the past six months, led by Bank of India Small Cap Fund with a 21.04% gain. Other performers include TRUSTMF, JM, Motilal Oswal, Union, and ITI funds, reflecting strong momentum in the small cap segment.
Delhi High Court ruled that tenants overstaying their lease must pay increased rent as per the agreement, even if they temporarily requested more time to vacate. The court emphasized that continued possession triggers the rent escalation clause automatically. This applies even to unregistered lease deeds, as the obligation matures upon expiry of the initial term. Landlords can pursue legal action for unpaid rent and eviction.
The EPFO's unified member portal is now live after an upgrade, bringing a new look and significant changes. Key services like UAN activation and direct allotment have moved to the UMANG app, utilizing Aadhaar-based Face Authentication. While UAN retrieval is simplified on the portal, death claim filing remains accessible. This update aims for faster, more secure services for all users.
Following his tryst with debt, the man recovered and developed his own theory for financial freedom, in which he stresses on incrementally building savings and paying off debts in a systematic way. Ramsey has also made this into a formalized series of 7 Baby Steps. He strongly advocates that if one can regulate the person in their mirror (themselves), they would win with money.
Eleven equity mutual funds turned investors lumpsum investments into more than four times their original value over the past seven years, led by small-cap schemes. Quant Small Cap Fund topped the list, while mid-cap, flexi-cap and ELSS funds also delivered strong long-term wealth creation, according to ETMutualFunds' analysis.

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