EPFO to rethink equity play after cold debut

The Employee Provident Fund (EPF) has traditionally been the only tool for most Indians, especially the salaried class, to save for their retirement corpus. This year's Union Budget had proposed to tax EPF returns, and make it compulsory to buy an annuity with a part of the corpus. The decision was later withdrawn, after opposition from various quarters.The government has now proposed to pay interest on inoperative accounts, almost 60 per cent of the total number. When employees change jobs, they usually either withdraw their EPF accounts or simply ignore these, if the balance is not much. Also, the income tax applicable on withdrawal before five years could be a reason why employees don't withdraw the money. Now, however, it is possible to access EPF accounts online and also transfer it when you change jobs. Besides, last month, the government changed the EPF guidelines to ban withdrawing the corpus before 58 years. Let us see how EPF works: Applicable to:Legally, any employee who has

All you need to know about the Employee Provident Fund

Business Standard

New motor premia in FY17

Rise in third-party premium and service tax will lead to an increase of 25-40% in total premium

Returns on investments received by a housewife will be taxed; parent or spouse gifting an asset will usually need to pay tax and a minor's income is clubbed with parents', with some exceptions

Hoodwinking taxman using family is difficult

Financial planning in new year: Start it now

Don't tinker with your long-term investment plan. But it is always better to make some critical changes, based on new tax laws and instruments

Consumer demand to get a boost

RBI Policy: Borrowers should expect only 25 basis point reduction within a month

Home loans to get cheaper over next three to six months

Severance pay is not taxable

A recent high court judgement classifies such income as capital receipt

I have two credit cards and the billing cycle is the same for both. Due to this, I sometimes find it difficult to fully pay the amounts. May I ask a bank to change my billing cycle?For all credit cards, the billing cycle is monthly in nature and there's a gap of two-three weeks between billing and payment due dates. Generally, banks allow a change in billing cycle at least once in the lifetime of a credit card. However, billing dates are necessarily once a month when the card payments must be made. Since you have two cards, you will  have two payment dates each month, on which you will need to pay.I have two credit cards. I want to transfer the balance to one and surrender the other. But, my bank is not permitting me to do so. What can I do?You have not mentioned whether both cards have been issued by the same bank or are from two different banks and which bank is not permitting you to do this. If they are from the same bank, both accounts are linked and treated as one in bank's record

Debt Counselling: Sanjay Agarwal

Filing income-tax returns gets more complicated

Those with annual income of more than Rs 50 lakh will have to furnish a lot of additional details

New order in the IPO market

Rishi Gupta

With e-commerce, payments banks and general insurance companies entering the market, investors will have to work on their understanding of these sectors

Click on graphic

Business Standard analyses one family's finances and suggests a way forward

Case study

Realty check

Business Standard brings you a snapshot of average current rates and unit sizes in localities that offer property in the price range of Rs 50 lakh to Rs 1 crore. If you are looking at buying real estate, an idea about prevailing rates would come in handy

New method of calculating the benchmark has already led to a reduction and now Reserve Bank of India's move will first spur a deposit rate cut

Sharp cuts in lending rates to take some more time

Banks will introduce hybrid home loans with stiff penalty on prepayment and shifting

MCLR may not help retail borrowers too much

When banks and NBFCs start cutting lending rates, share prices will gain

Rates slated to come down

I am a senior citizen and always get the higher interest rate for fixed deposits. Now, I want to invest in a fixed deposit jointly with my minor granddaughter. Will I still get the higher rate of interest for this FD?The interest on fixed deposits (FDs)  is offered on the basis of the primary account holder, i.e., FD can earn higher interest rate in case the primary/first holder is a senior citizen. In an FD opened in the name of a minor, the account gets opened in 'self or minor operated by guardian' mode and therefore cannot have a joint account holder. Hence, the differential rate of interest offered to senior citizens will not be applicable on this FD.I am due to retire in five years and my son has just started working. If we take a joint home loan, will we get a longer tenure? After my retirement, can he continue paying the Equated Monthly Instalments out of his salary and claim the tax benefits?Some lenders do offer a longer tenure in this scenario, with a flexible repayment plan

Banking: Rajiv Anand

Pune has become renowned for its strongly-entrenched information technology (IT) culture, and this has led to the rapid growth of IT-centric precincts in and around the city, with a direct correlation to demand for real estate. The Hinjewadi IT Park has been a particularly strong growth generator for certain precincts. While Aundh was the first area to gain significantly from the IT boom in Pune, its development potential diminished rapidly under the onslaught of a relentless spate of projects. Prices also stopped appreciating. Soon, the limelight shifted and neighbouring Wakad has become one of the new high-interest investment locations for mid-income housing on the city's western periphery.Located in the highly-developed PCMC area, Wakad has a host of positive market drivers to keep its real estate market vibrant. With proximity to the Mumbai-Pune Expressway and the thriving IT hub of Hinjewadi, as well as accessibility from the PCMC industrial area, Wakad now attracts end users in t

Has good civic infrastructure, connectivity to industrial pockets

Ramachandran had booked a duplex apartment in a building to be constructed by Atul Realty at Belapur in Navi Mumbai. The total cost was Rs 13.06 lakh payable in instalments.Ramachandran paid in instalment. The total amount paid till March 12, 1996, was Rs 12.08 lakh. On December 12, 1997, the builder said his booking would be shifted to some other project. Ramachandran objected to this. The builder promised to refund the amount with interest at 24 per cent a year, in case the project was abandoned for any reason.Since the builder defaulted, and neither gave possession or refunded the money, Ramachandran filed a complaint before the Maharashtra State Commission against Atul Realty and its directors, Atul and Rakesh Agarwal. He claimed a refund of Rs 12.08 lakh along with interest at 24 per cent a year and Rs 2 lakh as damages for severe hardship caused to him.Atul Realty contested and explained the building could not be constructed as the plot on which it was to be built was allotted by

Compensation for frivolous appeals

Current investment driven by hope of future change

Strong FDI flows need stability

Image via Shutterstock

Use the right measure of return

The metrics will change depending on the nature of investment

Hope for debt-heavy companies

For existing investors, it is a good time to take a re-look at your portfolio; new ones need to be more careful

Page 18 - Investment