Many direct taxation rules lack clarity and the rulings on these also differ from case to case

I-T laws that complicate your life

Business Standard

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

Case study

Budget: Rs 2.5 crore to Rs 3 crore Business Standard brings you a snapshot of average current rates and unit sizes in localities that offer property in a price range of Rs 2.5 crore to Rs 3 crore. If you are looking at buying real estate and your budget falls within this range, an idea about prevailing rates would come in handy

Realty check

Today, Rakesh Jain, chief executive officer, Reliance General Insurance, answers your questionsA recent blood and thyroid test revealed that I am a borderline case for hyperthyroidism and blood sugar. My doctor says both are curable. Will I be rejected by a general insurer if I want to buy health insurance?When you fill in proposal form please declare the diseases/conditions you have been diagnosed with. Depending upon an individual company's underwriting norms, they may accept your proposal or ask for certain medical reports and then decide.There was a theft in my house, also the last day of my householder's policy. I could only inform my insurer the next day. Will my policy be treated as expired? I still have no clarity from my insurer on this. Any loss taking place within the policy period, including the start and end date, is covered under the householder's policy. However, the policy places a responsibility on the insured to inform the insurance company about the loss immediately.

General Insurance: Rakesh Jain

A job abroad could be reason to celebrate. But you need to look beyond the offer letter and job profile. Income tax could lower your foreign pay substantially. But the impact could be mitigated by planning your travel to and from India. Keep track of your travel dates. The Income Tax (I-T) Act, 1961, helps.Plan your journey to India in such a way that you become a non-resident Indian (NRI) in the year you left the country. If your total stay in India is less than 182 days a year, you are an NRI. Or you pay tax on your foreign salary. In the year of return, the threshold for residency is 60 days and a look-back period of 365 days in the immediately preceding four tax years.Residential statusYour residential status is determined on the basis of physical presence in India during a tax year - between April 1 and March 31. Depending on your India stay in a tax year, you may be classified an ordinary resident or not ordinary resident (or non-resident).To qualify as  an NRI, you must have sta

Time your travel to and from India

Markets are expected to rise another 20% in the next couple of years and, thus, waiting could make sense

Hold on to Ulips for 1-2 years to maximise returns

Analysis of parameters like sector position, financial performance and debt should always be followed

Back to basics for stock selection

Additional units when the market falls help increase returns

Don't skip the SIP

The proposed restructuring process could be long drawn

CIL shares likely to see volatility

Apart from being cheaper and convenient, many online policies offer benefits that are not available in offline products

Dial 'e' for e-insurance

As investors brace for the announcement of election results, the Volatility Index is surging. Here's how to negotiate the turbulence

What should you do on May 16?

With a rich melange of variegated economic drivers, Karnal is now a focal point for most major developers in the Delhi-NCR region

Affordable housing with a blend of Punjab, Haryana

Sorting infra mess will require a pragmatic approach by the Centre and states. It could take longer than the market expects

Fundamentals, not hype, will drive stocks after May 16

RBI's move to allow children above 10 years of age to operate savings bank accounts can help inculcate a sense of financial independence

It's never too early to learn about money management

As the NSEL fraud and the Saradha scam show, whether it is the retail investor or HNI, both get sucked into apparently better-paying schemes

Rs 18,000 cr and counting

These schemes give higher returns than savings bank accounts and more flexibility than fixed deposits

Stay nimble, choose debt funds over FDs

It is the only way to ensure that there is a dispute-free passage of wealth to the rightful heirs

Where there is a will, there is an easy way out

Finally, retail investors are seeing some action in the stock market. With the BSE Sensex at about 22,500, many are sitting on gains in their portfolios.Mutual fund houses are trying to attract these investors with new fund offerings (NFOs) in equities. Between January and May, fund houses launched 22 NFOs, the most since 2010. By comparison, fund houses launched a total of 18 schemes in 2013 and just eight in 2012.While the launches might reflect the renewed interest of fund houses, the question is should you invest in these? Gaurav Roy, co-founder and chief financial officer, Bigdecisions, feels reasons to invest in an NFO should be compelling. "For instance, if the fund is investing into an asset class or a market or sector in which you don't have exposure, or if there is a completing new category," he says.From the perspective of a fund house, new launches could be targeted towards sectors in which it does not have presence, says Tanwir Alam, founder and managing director of Fincar

Avoid similar NFOs

With the Sensex returning 15% over the past year, it may make sense to play it safe till things are clearer on a number of fronts

Financial planning for a volatile 2014

File a complaint, place newspaper announcements and approach the authority concerned for a duplicate

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