The Economic Times

The government is planning a new pension scheme under the EPFO 3.0 framework. This new plan aims to provide retirement benefits to workers in both formal and unorganised sectors. Members will build a retirement corpus through regular contributions invested in government-backed assets.

HSBC Bank's IFSC unit offers Non-Resident Indians significant leverage on FCNR(B) deposits. This strategy allows investors to borrow up to nineteen times their initial deposit amount. The potential for amplified returns arises from the spread between deposit earnings and borrowing costs. However, this leverage strategy carries risks if borrowing costs exceed deposit interest rates. FCNR(B) deposits also offer protection against Indian Rupee depreciation for investors.

Gold rate: Gold rates remained largely steady across major Indian jewelry brands today. Find the latest 24k, 22k, 20k, 18k and 14k gold and 999-purity silver jewellery indicative rates provided by the India Bullion and Jewellers Association (IBJA) today.

Central government employees anticipate significant salary raises from pay commissions. However, gross salary increases may lag behind basic pay hikes. This difference arises from various allowances that do not always scale proportionally. Historical data shows gross salary hikes have been lower than basic pay increases. The 8th Pay Commission's projections suggest similar trends for future salary revisions.

Students, salaried individuals, and pensioners can file ITR-1 for AY 2026-2027. The deadline for filing this income tax return is July 31, 2026. This simplified form is for resident individuals with income up to fifty lakh rupees. It covers income from salary, one house property, and other specified sources. Taxpayers must log in to the e-filing portal and follow the guided steps.

New income tax rules aim to reduce penalties for ordinary citizens. Minor foreign asset non-disclosures will not face prosecution from October 2024. Prosecution provisions are softened with reduced jail terms and graded punishments. Several penalties are converted into fixed fees to reduce litigation and bring certainty. Penalty proceedings will merge with assessment proceedings from April 2026.

The Reserve Bank of India has set the premature redemption price for SGB 2021-22 Series-IV. Investors can redeem these bonds prematurely from July 20, 2026, after five years. Tax rules apply to capital gains on premature redemption of these bonds.

Taxpayers using the presumptive taxation scheme must select the correct Income Tax Return form. Generally, ITR-4 is suitable for individuals and HUFs with income up to fifty lakh rupees. However, certain conditions like foreign income or losses necessitate filing ITR-3. Essential documents include PAN, Aadhaar, bank details, and tax payment proofs. Ensuring an active PAN and validated bank account is crucial for filing.

Under the new labour code, employers must pay salaries by the seventh day of the following month. Daily wage workers must be paid at the end of each workday. Employees who leave a job are entitled to receive their final dues within two working days. The code applies to all employees, regardless of salary, and introduces the role of an inspector-cum-facilitator to help resolve wage-related complaints and claims.

Largecap mutual funds' cash holdings fell to a one-year low of 2.2% in June, reflecting higher equity deployment and fund managers' confidence in select opportunities. Experts caution this is not a buy signal, advising investors to continue SIPs and focus on long-term goals, as lower cash may increase volatility during market corrections.

The Delhi High Court has canceled a government tender for passport and visa services abroad. This decision came after losing bidders argued the selection process lacked fairness. Authorities must now seek fresh bids for services in four countries. Passport and visa services in Australia have already been suspended due to this dispute. The government has appealed the High Court's ruling to the Supreme Court.

Elevated inflation persists due to West Asian tensions and a weak monsoon outlook. The Reserve Bank of India maintains its policy rate, diverging from global peers. Governor Malhotra stated that domestic inflation pass-through has remained limited so far. India's economic fundamentals remain strong despite geopolitical uncertainties and growth forecasts. Policymakers will monitor inflationary pressures before considering any monetary policy adjustments.

The ideal mix depends on each investors financial goals, risk appetite and time horizon, making asset allocation unique to every individual. In this weeks TrendMap, ET Wealth compares seven asset combinations. Portfolios with gold have delivered a notable return boost in recent years. By Sameer Bhardwaj.

It is relatively easier to reliably buy or sell property in the United States, compared to the process in India, which can be fraught with delays and in some cases instances of fraud and malpractice. The liabilities and penalties for such instances are clearly stated and implementable in the US.

India's virtual digital asset taxation remains among the world's toughest. Investors face a flat thirty percent tax on gains and one percent TDS. Specific provisions govern the taxation of cryptocurrencies and non-fungible tokens. Airdrops and staking rewards are taxed as income upon receipt. Non-disclosure of overseas holdings can invite severe penalties and prosecution.

Report even exempt equity gains under Section 112A, and file losses on time to carry them forward.

Key features such as the 12% contribution rate for employers and employees as well as the Rs.15,000 statutory wage ceilingremain unchanged, but the formalisation of revised provisions will trigger new operational obligations.

Global exposure, including oil & gold ETFs, and hedge against rupee depreciation are key draws of GIFT City ULIPs; but the market is nascent and experts caution against mixing insurance with investments.

Hybrid long-short funds rival debt, arbitrage and hybrid funds, but look beyond the label.

As NSE and Jio Platforms head for blockbuster IPOs, ET Wealth speaks to five early investors. Their journeys reveal the rewardsand the risks.

In this edition of Know Your Fund Manager, Satish Donadapati, Fund Manager ETF at Kotak AMC, shares his journey from an Army upbringing to managing passive funds. He discusses his career path, transition into portfolio management, and current responsibility of overseeing 19 ETFs and 23 Index Funds with a combined AUM of Rs 20,440 crore, while highlighting his investing philosophy.

Mutual funds bought select small-cap stocks in June, with Acme Solar Holdings, Craftsman Automation, Pine Labs, Sterlite Technologies and RBL Bank among the top picks, according to Dolat Capital.

Patanjali Foods, ICICI Prudential AMC, IREDA, NMDC and Oil India saw the highest net selling by mutual funds among midcap stocks in June, according to a Motilal Oswal Financial Services report.

Six AMCs saw their AUM rise by over Rs 7,000 crore in June, according to ACE MF data. SBI Mutual Fund led the pack with an increase of Rs 14,192 crore, followed by Aditya Birla Sun Life, HDFC, Invesco, Nippon India and HSBC Mutual Fund.

Mutual funds completely exited nearly 25 stocks in June, according to Prime Database. Rossell Techsys saw the largest sell-off at Rs 94.34 crore, followed by Wim Plast, Paramount Communications, GOCL Corporation and Veranda Learning Solutions.

Daughter married and settled in USA lost partition case in HC for getting share in family lands in Bengaluru for this reason; Know more. Know why did she lose the case in Karnataka High Court. Also know what does Hindu law say.

Employee got Rs 65.21 lakh as VRS after company shut plant, but wrong ITR reporting led to tax dispute; ITAT Pune rules in his favour and gives him relief from tax. Know how this empoyee won the case in ITAT Pune.

HDFC Mutual Fund held top positions in ICICI Bank, HDFC Bank, Axis Bank, RIL and Eternal in June. Check the fund houses top 10 stock holdings and portfolio changes.

Mutual funds bought five midcap stocks, including Lenskart, Meesho, JSW Infrastructure, NHPC and Ajanta Pharma, in June. These stocks witnessed net purchases worth over Rs 10,000 crore during the month.

Seven mutual funds, including SBI, HDFC, Kotak and Quant Mutual Fund, trimmed holdings in 21 small-cap stocks in June. Check the complete list of stocks where fund houses reduced exposure.

Eight equity mutual funds, including Axis Greater China Equity FoF, Motilal Oswal Nasdaq 100 FOF and ICICI Pru Technology Fund, witnessed outflows exceeding Rs 220 crore in June

Property sellers may need to re-compute advance tax after the Cost Inflation Index release. This delay impacts individuals selling property acquired before July 23, 2024. Advance tax payments for the first quarter were due before the index was notified. Underestimating tax liability could lead to interest charges for deferred payments. Taxpayers can adjust subsequent installments or claim refunds if overpaid.

Samir Arora-backed Helios Mid Cap Fund added Groww parent Billionbrains Garage Ventures and four other stocks to its June portfolio, while raising exposure to Paytm and 29 other companies. The fund exited five stocks, trimmed its stake in Black Box and retained holdings in 32 stocks unchanged.

A recent ruling clarifies children's birthright in inherited property. Mitakshara Hindu law states self-acquired property does not grant automatic birthrights. The source of the father's title determines if property is ancestral or self-acquired. Children can still inherit self-acquired property through succession laws or a Will. This ruling impacts claims based solely on birthright in such cases.

Can the Income Tax Department tax you based only on papers found during a builder's search? A recent ITAT ruling explains when third-party documents are not enough and the important rights every property buyer should know.

Sebi now permits demat mutual fund investors to set up standing instructions for systematic plans. This facility, previously for statement of account holders, will be phased in. Unit-based SWPs and STPs will be covered by January 2027. Amount-based plans will follow by April 2027. Amfi also simplified mutual fund unit transmission procedures after a unit holder's death.

Gold rate today: Gold prices remained a key focus for consumers on Saturday, July 18, 2026. The India Bullion and Jewellers Association provided indicative rates for various gold and silver purities.

India's government is considering a small Merchant Discount Rate for large UPI retailers. This potential change aims to create a sustainable revenue model for payment providers. Large merchants with significant annual turnover would face this minor transaction fee. Peer-to-peer and small merchant transactions will remain free of any charges.

Some banks offer senior citizens fixed deposits with interest rates up to 8.05 percent. These deposits are available for a five-year term and up to Rs 3 crore. Banks deduct tax at source if FD interest exceeds Rs 1 lakh annually. Senior citizens can submit Form 15H to avoid TDS if their tax liability is zero. This form helps banks understand tax eligibility based on income and rebates.

Financial planning for retirement: Early retirement necessitates careful financial planning for extended periods. A Rs 1 crore corpus may prove insufficient for early retirees in India. Experts suggest a diversified investment strategy for long-term financial security. This approach balances regular income with growth to combat inflation. Strategic asset allocation and disciplined withdrawals are crucial for sustainable retirement.

Bank holiday today: Customers who had planned to visit their local bank branch for banking services such as cash deposits, cheque clearances, demand drafts or updating passbooks are left wondering if they should go to complete their tasks today.s.

Sebi has allowed SWP and STP standing instructions for mutual fund units held in demat form, simplifying investing. The rollout will occur in two phases, with unit-based transactions by January 2027 and amount-based transactions by April 2027 through depositories.

A fake Reserve Bank of India letter is misleading people about pending payments. It falsely claims a Rs 1 lakh payment is on hold due to transaction failure. Recipients are asked to pay Rs 7,500 as a refundable tax to release funds. The Press Information Bureau's Fact Check unit has flagged this letter as fake. The public is urged not to fall for such fraudulent schemes.

Fresh SIP options in international mutual funds have narrowed sharply, with only Baroda BNP Paribas Aqua FoF accepting new investments after multiple fund houses halted inflows due to SEBIs overseas investment limits. Investors are exploring LRS, GIFT City and global ETFs as alternatives.

AMFI has simplified mutual fund transmission procedures for deceased unit holders. New measures consider address and name mismatches for smoother claims. Asset Management Companies will now rely on updated address details supported by documentation. A harmonized framework for name and signature discrepancies is also introduced. These updated guidelines are effective immediately for all member AMCs.