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SEBI has proposed that all the expenses that include brokerage, transaction cost, cost of investment to be brought within the total expense ratio limit. The proposal also suggests removal of additional expense on exit load

Mutual funds total expense ratio: SEBI proposes uniformity across schemes 

SEBI has proposed that all the expenses that include brokerage, transaction cost, cost of investment to be brought within the total expense ratio limit. The proposal also suggests removal of additional expense on exit load

Investing in mutual funds may soon get simpler and cheaper with SEBI's new proposal.&nbsp; In a consultation paper, the capital markets regulator has proposed a uniform total expense ratio (TER) across mutual funds schemes. This move is aimed to bring in transparency in the costs charged to the unitholders. Total expense ratio is a percentage of the corpus that an asset management company charges for expenses including administrative and management. Currently, SEBI allows the mutual fund companies to charge the unitholders 4 additional types of expenses in addition to the specified TER limits. This includes transaction costs, brokerage, additional TER for distributor commission for inflows from B-30 (cities that are beyond top 30) cities, GST and exit load expense.
In the consultation paper SEBI said, "TER reflects the maximum expense ratio that an investor may have to pay and hence it should be inclusive of all the expenses permitted to be charged to an investor and the investor should not be charged any amount over and above the prescribed TER limits".&nbsp;
Hence, SEBI has proposed that all expenses should be brought within the TER limit. The limits on the TER will be kept at the AMC level but will include all the expenses including GST on management fees, brokerage and transaction costs, B-30 incentives etc. The market regulator has also proposed to remove the provision that enables AMC to charge an additional expense of 5 basis points for schemes having provision of exit load.&nbsp;&nbsp;
SEBI has also suggested that the additional commission to distributors may continue for inflows from B-30 cities. But only for inflows from new investors and capped at Rs 2000. The regulator wants the AMCs to design their distribution commission policy in a way that would promote more inflows from B-30 cities. &nbsp; In order to protect small AMCs, SEBI has proposed that all the expenses of regular and direct plans will be uniform except the distribution commission. SEBI has sought comments and suggestions on the proposal till June 1.
&nbsp;
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The finance ministry circular says that payments made abroad by debit cards were already covered under Liberalised Remittance Scheme but expenditures by credit cards were not accounted for, which has led to some individuals exceeding the limit of $25

20% TCS on credit card spending abroad: Finance Ministry clarifies – Here’s all you need to know

The finance ministry circular says that payments made abroad by debit cards were already covered under Liberalised Remittance Scheme but expenditures by credit cards were not accounted for, which has led to some individuals exceeding the limit of $250,000

The finance ministry has issued a clarification explaining the changes in the Liberalised Remittance Scheme (LRS). This is a scheme that enables Indian residents to remit funds abroad for specific and permitted purposes.
In a recent change, the finance ministry amended the rules under the Foreign Exchange Management Act (FEMA) to bring international credit card spending under the LRS. This essentially means credit card spending in foreign currency will now be a part of the LRS limit of $250,000. This was not the case earlier as credit card transactions abroad were exempt from LRS. The exemption has now been taken away. Moreover, spending by international credit cards will attract tax collected at source of 20%. These new rules will be applicated July 1st 2023.
 Here are the key highlights of the finance ministry&rsquo;s circular.
The circular explains that all resident individual including minors are allowed to freely remit up to $250,000 per financial year for any current or capital account transaction that is permitted. Highlighting the data, the circular shows the amount that has been remitted in the past few years:
FY 2020-21: $12.68 billion FY 2021-22: $19.61 billion FY 2022-23: $24 billion (of this, overseas travel accounted for more than half)
&nbsp;
Why was this change required? While abroad, a person could use international debt or credit cards for current account transactions. However, payments made by debit cards were already covered under LRS but expenditures by credit cards were not accounted for under the specified LRS limit which has led to some exceeding the limit of $250,000. Data also shows that international credit cards are being issued with higher limits. In fact, RBI had highlighted this issue to the government on multiple occasions.
How will this change help? 1. Differential treatment between debit and credit cards will be removed 2. Equity in the treatment of modes of drawal of foreign exchange 3. Total expenditure under LRS will be captured properly for prudent forex management 4. By-passing of LRS limits will stop
Other important clarifications 1. The circular also clarifies that TCS of 5% will be levied on expenses exceeding ₹7 lakh towards medical treatment and education. 2. Other expenses, including investments in real estate, foreign tours and travels would attract 20%.
3. LRS does not cover business visits of employees, subject to verification of the transactions. &nbsp; 4. For those availing loans for overseas education, a lower TCS rate of 0.5% would be levied above the ₹7 lakh threshold.

Centre has amended the Liberalised Remittance Scheme rule by which prior permission from RBI has to be taken for any spending over $2,50,000 via international credit cards. Till now, credit card spending was not counted as part of the LRS ceiling

Govt imposes 20% TCS on international credit card spending

Centre has amended the Liberalised Remittance Scheme rule by which prior permission from RBI has to be taken for any spending over $2,50,000 via international credit cards. Till now, credit card spending was not counted as part of the LRS ceiling

Government has hiked the Tax Collected at Source (TCS) on international credit card spending from 5% to 20%. The government in a notification announced that any spending via international credit cards outside India will come under the Liberalised Remittance Scheme (LRS).
The central government has amended the Foreign Exchange Management Act, thus bringing the credit card spending under the LRS. This amended rule would be applicable from 1st July 2023. Earlier, only debit cards, forex cards and bank transfers were alone included under the LRS and not credit cards.&nbsp;
While this move is expected to help the government in keeping track of overseas spending, it has received huge backlash on social media. Tax experts have raised their concerns over the hike in TCS as this would affect a lot of business travelers who spend on behalf of the company. Tax expert Ajay Rotti took to twitter and said that the proposed TCS is not a good idea from the perspective of ease of business.
Ajay Rotti @ajayrotti &nbsp; Dear @nsitharaman - TCS on international use of credit cards is not something you should go ahead with. It impacts a lot of business travelers who spend on behalf of the company. It serves no purpose with TCS on the employees name and it can't be on company name!&nbsp;
TCS is being introduced for collection of data on transactions and not as a tax. Banks can be asked to share data of Credit card transactions. TCS as proposed is not a good idea from the perspective of "ease of business"
While this move is introduced to increase RBI's hold on foreign remittances, experts believe that this 20% TCS rule would lead to high cash flow issues from High net-worth individuals.

In a notification dated 16th May, the Central Board of Direct Taxes has announced that TDS will not be applicable on the interest earned through the Mahila Samman Savings scheme

Mahila Samman Savings Scheme: TDS to not apply on interest earned, says CBDT

In a notification dated 16th May, the Central Board of Direct Taxes has announced that TDS will not be applicable on the interest earned through the Mahila Samman Savings scheme

Interest earned from Mahila Samman Certificate scheme will not attract TDS and the interest income will be taxed in the hands of the recipient as per the eligible tax slab, as per a CBDT notification.
The Central Board of Direct Taxes (CBDT) on May 16 notified the Tax Deducted at Source (TDS) provision for the post office savings scheme, under which an account can be opened in the name of a girl or woman.
The scheme which was launched in the current fiscal, provides an annual interest of 7.5 per cent interest and maximum limit for deposit is Rs 2 lakh. The deposit shall mature on completion of two years.
Nangia Andersen India, Partner, Neeraj Agarwala said the CBDT notification clarifies that TDS on interest earned on the Mahila Samman Saving Certificate (MSSC) is not applicable if such interest does not exceed Rs 40,000 in a financial year.
"At 7.5 per cent interest, the MSSC scheme will give a return of Rs 15,000 in one year and Rs 32,000 in two years. It can be said that no TDS will be applicable since the interest accrued in a financial year will be less than Rs 40,000," Agarwala said.

In this episode of Invest Smart, Editorji's Avni Raja speaks to Harsh Roongta about the pros and cons of both debt mutual funds and fixed deposits, which one might fit better into your portfolio and what factors should you consider 

Invest Smart: Fixed deposits Vs debt mutual funds

In this episode of Invest Smart, Editorji's Avni Raja speaks to Harsh Roongta about the pros and cons of both debt mutual funds and FDs, which one might fit better into your portfolio and what factors should you consider which choosing which one to opt for.&nbsp;

Ever since the taxation structure of debt mutual funds was changed where the tax benefits were taken away, there has been a relook at the category. There is a perception that debt mutual funds and fixed deposits are the same because you pay tax as per you income tax slab. However, there still remain some significant differences between the two investment avenues with debt mutual funds working out to be more beneficial that fixed deposits in certain aspects.&nbsp;
Another factor to consider is the growth versus dividend options of debt mutual funds.&nbsp; Harsh Roongta, Fee Only Investment Advisers LLP, explains the concept of growth vs dividend option of debt mutual funds using the the analogy of a 100,000-litre water tank representing one's mutual fund investment and 6,000 litres of water supplied annually by the municipal autho&shy;rities as the income generated by the fund.
One could either have the 6,000 litres of municipal water delivered directly home, which would be akin to the fund&rsquo;s dividend option. Alternatively, one could add the 6,000 litres to the tank (similar to the growth option) and then withdraw from it. The tank would now contain 106,000 litres. When in future he withdraws 6,000 litres from the tank, 94.34 per cent (100,000/106,000) would be his own water while 5.66 per cent (6,000/106,000) would be municipal water.
On choosing the dividend option, one would need to pay tax immediately on the 6,000 litres of municipal water delivered home.
But in the growth option, withdrawing 6,000 litres from the tank that contains a mix of one's own and municipal water, only 340 litres (or 5.66 per cent of 6,000 litres) would be municipal water on which one would have to pay tax. The remaining 5,660 litres (94.34 per cent of 6,000 litres) would be one's own water on which they would not have to pay tax. This means one would pay tax on only a fraction of the water consumed, even though the amount consumed would be the same as in the dividend option. The amount of water remaining in the tank would also be the same at 100,000 litres.
"The structural benefit of a growth scheme &mdash; of tax being charged on a lower amount &mdash; persists. This will allow investors to benefit from lower tax payments indefinitely, as long as the withdrawals are equal to or less than the income added during the year.", says Roongta.&nbsp;
Fee Only Investment Advisers LLP is a SEBI registered Investment advisory firm.&nbsp;

After the new taxation laws for the funds that went into effect on April 1, High Net Worth Individuals are choosing bank Fixed Deposits over debt mutual funds

HNIs preferring FDs over debt mutual funds: report

After the new taxation laws for the funds that went into effect on April 1, High Net Worth Individuals are choosing bank Fixed Deposits over debt mutual funds

With the debt mutual fund schemes now under the tax ambit, the attractiveness of the product has reduced as High Net worth Individuals (HNIs) are favouring bank fixed deposits (FDs) over such funds, according to a report by Motilal Oswal Financial Services on Thursday.
In addition, interest rates on bank deposits have increased significantly over the past one year. This led to HNIs getting inclined towards bank fixed deposits over debt mutual funds, Nitin Aggarwal, Head of BFSI Research at Motilal Oswal Institutional Equities, said.
Although HNIs comprehend the advantages of mutual funds over other financial products, past problems in the sector still concern them.
The report is based on the inputs of large mutual fund distributors, having an asset under management (AUM) in excess of Rs 1,000 crore, and institutional sales representatives. Going by the report, HNIs have also been preferring PMS (Portfolio Management Schemes) and AIFs (Alternative Investment Funds) as they find mutual fund products commoditised.
When it comes to systematic investment plans (SIPs), HNI customers have failed to maintain higher ticket SIPs as the returns through the route over the past three years have been minimal. This led to the HNI segment experiencing lower renewal rates of SIPs. &nbsp;HNIs are preferring bank FDs over the debt mutual fund following the new taxation rules for the funds that kicked in from April 1. &nbsp;
Under the new rule, investment in debt mutual funds that are bought on or after April 1, 2023, will be taxed as short-term capital gains at applicable tax rates. That is, capital gains from debt funds, international funds and gold exchange traded funds (ETFs), irrespective of their holding period, will be taxed at an individual's relevant applicable tax rate. &nbsp;Debt mutual funds held for more than three years will no longer enjoy indexation benefits and additionally, existing LTCG (Long-Term Capital Gain) benefits will continue for investments made on or before March 31, 2023.
Indexation takes into account the inflation during the holding period of a mutual fund unit and consequently increases the purchase price of the asset and this reduces the tax.&nbsp;

Equity mutual fund inflows fell to a 4 month low in April. Meanwhile, SIP inflows stood at ₹ 13,727.63 crore in April. In March the SIP inflow was at ₹ 14,276.06 crore.

Equity mutual fund inflows drop 68% in April; lowest in four months

Equity mutual fund inflows fell to a 4 month low in April. Meanwhile, SIP inflows stood at ₹ 13,727.63 crore in April. In March the SIP inflow was at ₹ 14,276.06 crore.

According to data released by the Association of Mutual Funds in India the net investments in equity and equity-linked schemes have declined more than 68% month on month to ₹ 6,480.3 crore. This is the lowest inflows recorded in four months.&nbsp;
The drop in mutual fund investment is despite the rise in benchmark indices. The S&amp;P BSE sensex rose 3.6% while the NSE Nifty rose 4.06% in April.&nbsp;
However, investments in small and mid cap funds continued in April, registering inflows for 26 months in a row. The small cap funds saw an inflow of ₹ 2,182.44 crore, followed by mid-cap that recorded an inflow of &nbsp;₹ 1,790.98 crore. Meanwhile, the large cap funds received the lowest inflow of ₹ 52.63 crore.&nbsp;
All equity fund categories received inflows except for focused funds in April. The funds witnessed an outflow of ₹ 130.91 crore in April 2023. Meanwhile, the liquid funds registered inflows in April after 4 months of consecutive outflows. The money market fund saw an inflow of ₹ 13,960.96 crore in April. In March the fund registered an outflow of ₹ 11,421.7 crore.
SIP inflows stood at ₹ 13,727.63 crore in April. In March the SIP inflow was at ₹ 14,276.06 crore. The number of SIP accounts as of 30th April went up to 6.42 crore compared to 6.36 crore as of March 31.
"I am quite confident that we will regain the Rs 14,000 crore number in May," AMFI Chief Executive Officer NS Venkatesh said in a press conference call. The SIP numbers are showing a "promising and upward" trend for the new financial year, he added.&nbsp;

A new report by CAMS has revealed that millennials have shown more interest in investing through mutual funds in the last 5 financial years

Millennials drawn to mutual funds as an investment option: CAMS report

A new report by CAMS has revealed that millennials have shown more interest in investing through mutual funds in the last 5 financial years

A new report by Computer Age Management Services (CAMS) has revealed that 54% of first-time mutual funds investors over the last five financial years have been millennials. A total of 84.8 lakh new millennial investors have joined the mutual funds serviced by CAMS.
CAMS released the report, 'The emerging force of the millennial investor is here to stay &amp; grow&rsquo; at the 17th CII Mutual Fund Summit held in Mumbai. The report includes actionable insights for asset managers, intermediaries, advisors and service partners, covering several key areas.
"The addition of millennials who formed 54% of the new investor base into mutual funds has been possible on the back of five key drivers- massive awareness campaigns, conducive market conditions, digital access, simplified KYC and concerted intermediation and advisory. AMCs, Intermediaries, Advisors and CAMS have the responsibility to give these investors a superior experience as they traverse the journey", said Managing Director of CAMS Anuj Kumar&nbsp;
CAMS released the report based on data from the mutual funds serviced by CAMS which account for 69% of the Indian mutual funds industry. As per the data a total of 1.57 crore new investors entered CAMS serviced Funds during FY19-FY23. Out of this, 54% that is 84.8 lakh were millennials. Of these 84.8 lakh, nearly 26% are women.
About 33 lakh have invested in more than one fund house over the last five years. The report also, mentioned that 85% of the new millennial entrants came from urban locations. The gross inflow across the five years were over ₹ 1,00,000 crore. Out of this, over ₹ 65,000 crore was into equity schemes.&nbsp;

On this episode of Invest Smart, Editorji's Avni Raja speaks to Founder, Finsafe India, Mrin Agarwal about the National Pension Scheme (NPS), how it works and whether it could be a good fit for your retirement portfolio. 

Invest Smart: National Pension Scheme (NPS) - Here's all you need to know

On this episode of Invest Smart, Editorji's Avni Raja speaks to Founder, Finsafe India, Mrin Agarwal about the National Pension Scheme (NPS), how it works and whether it could be a good fit for your retirement portfolio.&nbsp;

Retirement planning is perhaps one of the most important financial goals. And ofcourse, the earlier you start the better. While there are various way to plan for your retirement, the National Pension Scheme or NPS is a great option to add to your retirement portfolio.&nbsp; Mrin Agarwal, Founder, Finsafe India explains some of the benefits of the NPS.&nbsp;
<ol>
<li>It's a flexibe product, offering a range of investment options.&nbsp;</li>
<li>Subscribers can switch investment options or fund managers &nbsp; &nbsp; &nbsp; &nbsp;</li>
<li>If offers tax benefits under section 80CCD</li>
<li>The cost of investment is very low at 0.05%&nbsp;</li>
</ol>
&nbsp;

Personal Finance

The government had clarified that TCS will not be applicable on spending up to Rs 7 lakh, excluding tour packages. The TCS for medical and education expenses remain at 5%

Credit card forex payment: The what, why and how of 20% TCS on foreign transactions

The government had clarified that TCS will not be applicable on spending up to Rs 7 lakh, excluding tour packages. The TCS for medical and education expenses remain at 5%

In a recent change, the finance ministry amended the rules under the Foreign Exchange Management Act (FEMA) to bring international credit card spending under the LRS or Liberalised Remittance Scheme. This essentially means credit card spending abroad will now be a part of the LRS limit of $250,000. Moreover, tax collected at source for transactions under the LRS was also increased from 5% to 20%. These new rules will be applicable from July 1st 2023. &nbsp; Any transaction that goes over the $250,000 limit, would need an approval from the Reserve Bank of India. Earlier, only payments via debit card, bank transfer and forex cards were under LRS. Now foreign spending via credit card is also included under the scheme. &nbsp; This decision to increase the tax on the credit card spending received a lot of backlash.
Following this, the government clarified that the TCS will be applicable only for payments that go over Rs 7 lakh per financial year.
Government's Rationale&nbsp; The government&rsquo;s rationale for this move is that while payments made by debit cards were already covered under the LRS, expenditures by credit cards were not accounted for, which has led to some exceeding the $250,000 limit and bypassing the LRS rules. This move, the govt says, will remove the differential treatment between debit and credit cards and the total expenditure under LRS will be properly captured.
Here are five scenarios and the impact that this change will have:
<ul>
<li>Any spending of up to Rs 6 lakh outside India (other that buying a tour package) Impact: In this case, no TCS will be applicable. </li>
<li>Spending of Rs 8 lakh outside India for medical expenses Impact: TCS of 5% the amount that is above Rs 7 lakh &ndash; Rs 5,000 in this case. </li>
<li>Spending of Rs 8 lakh outside India for education Impact: 1) In case of an education loan: TCS of 0.5% would apply. 2) Without an education loan: TCS of 5% would apply. </li>
<li>Spending of Rs 8 lakh for any expenditure abroad (excluding taking a tour package) Impact: TCS of 20% would apply on the amount that is above Rs 7 lakh. Hence, you will have to pay Rs 20,000 as TCS in this case. </li>
<li>For any travel package irrespective of the cost of the package Impact: 20% TCS will apply.</li>
</ul>
Who gets the TCS?&nbsp; The tax collected at source goes to any authorised dealer. In case of spending via credit cards it goes to the bank. &nbsp; TCS refund A user can get back the tax collected at source while filing for Income Tax returns. As per the government notification, you can deduct the TCS from the tax you would be paying for that financial year or get a refund in case you don&rsquo;t come under the tax paying ambit.
What would be the implications? Many tax experts believe that the increase in the TCS will create a crunch in the cash flow and influence the spending pattern. The government included credit cards under the LRS to keep a track of the overseas expenses. However, many experts feel that this could have been done even without increasing the TCS rate.
Meanwhile, the All-India Association of Authorized Money Changers &amp; Money Transfer Agents have asked the government for specific clarification regarding small value transactions involving Foreign Currency Cash, Wire Transfers through Banks, Prepaid Forex Cards, and other International payment options widely used by individuals during overseas trips for leisure or employment.&nbsp;

Editorji brings you the upcoming June deadlines you need to be aware about

From PAN-Aadhaar linking to bank locker rules: list of personal finance deadlines you can’t miss in June

Editorji brings you the upcoming June deadlines you need to be aware about

Almost first half of 2023 is over as the sixth month of the year- June has begun. The month of June comes with a lot of personal finance deadlines.&nbsp; Editorji brings you the upcoming deadlines you need to be aware of:
1. First on our list is PAN-Aadhaar linking deadline. After giving a series of extensions, the Income Tax Department has set June 2023 as the final deadline for seeding the two important documents. 2. Update your Aadhaar- Talking about Aadhaar, the Unique Identification Authority of India (UIDAI) announced free updates for Aadhaar documents in March so that individuals could update any information on their Aadhaar card, e.g address, etc. However, this free service is only available till June 14.&nbsp; After June 14, changes in such updates will charge a fee of ₹50 for document updates. To update Aadhaar documents, you can use the myAadhaar portal. 3. &nbsp;Bank locker rules: Reserve Bank of India (RBI) has set new rules for safe deposit lockers require customers to sign a new agreement with their banks. The RBI expects banks to achieve 50% enrollment by June 30, and 75% enrollment by September 30. As this deadline holds near, you may also be asked to renew your contract. 4. Higher EPS pension deadline The Employees' Provident Fund Organisation (EPFO) has extended the date for filing applications to opt for a higher pension. This is the second time the EPFO has extended the deadline. If you want to opt for a higher pension, you have time till 26 June 2023 to do the same.&nbsp; 5. SBI WECARE FD Scheme: The scheme, which aims to ensure sufficient income for senior citizens aged 60 and above has extended the deadline to June 30, 2023. Under the 'WECARE'&nbsp;scheme, senior citizens get an additional premium of 50 basis points (bps) over and above the existing premium of 50 bps for the public. 6. SBI Amrit Kalash: SBI's Amrit Kalash Special FD also reaches its last date on June 30. This Fixed Deposit tenure spans 400 days. The interest rates for the general public and senior citizens are 7.10 percent and 7.60 percent, respectively. 7. Indian Bank special FD: Indian Bank introduced a unique Fixed Deposit scheme known as "IND SUPER 400 DAYS." Prospective investors have until June 30 to capitalize on this opportunity. The bank is offering an interest rate of 7.25 percent for the general public, 7.75 percent for senior citizens, and 8 percent for super seniors. 8. Last on our list is Mutual fund investing for minors. Securities Exchange Board of India (SEBI) introduced a set of rules relating to buying mutual fund units in the name of minor children through guardians. The new will come into effect from June 15, 2023.

On this episode of Invest Smart, Editorji's Avni Raja speaks to cybercrime investigator Ritesh Bhatia about the recent spike in financial cyber crimes, how to protect your money from such scams and what you can do if you've been the victime of a cybe

Invest Smart: How to protect your money from financial cyber-scams 

On this episode of Invest Smart, Editorji's Avni Raja speaks to cybercrime investigator Ritesh Bhatia about the recent spike in financial cyber crimes, how to protect your money from such scams and what you can do if you've been the victime of a cyber-scam. 

On this episode of Invest Smart, Editorji's Avni Raja speaks to cybercrime investigator Ritesh Bhatia about the recent spike in financial cyber crimes, how to protect your money from such scams and what you can do if you've been the victime of a cyber-scam.&nbsp;

While the rise in digital transactions has a lot of benefits, it makes us much more vulnerable to online fraud. There has been a massive spike in the number of financial cyber scams
There has been a huge evolution in the kind of online financial scams that we&rsquo;ve seen. And over time, its become more and more sophisticated making it that much more difficult but not impossible to spot. Especially now with the rise of artificial intelligence, its given a whole new dimension to the kind of scams that cyber criminals can do.
So the big question is, how do we keep ourselves and our money safe?
Distrust everything in cyberspace, no matter how genuine it seems and then verify, says cybercrime investigator Ritesh Bhatia. If you've been the victim of a financial cybercrime, then you must submit a complaint. Here are the steps to follow:
<ol>
<li>Avoid reporting &amp; blocking a number immediately: When you report a number on whatsapp, you lose the messages and the evidence gets erased. Instead, block the suspicious number first.</li>
<li>Take screenshots of all the communication with that number.</li>
<li>Once you&rsquo;ve submitted a complaint, then report number.</li>
<li>Call 1930 as soon as possible, ideally within 30 to 60 minutes of discovering you've been defrauded.</li>
<li>Log on to cybercrime.gov.in &amp; submit complaint&nbsp; First 30-60 minutes most important</li>
<li>You will receive a call from local police station&nbsp; Visit police station, submit complaint&nbsp;</li>
</ol>
The first 30 to 60 minutes is extremely crucial. If you reach out for help during this time, there is a good chance that you might be able to get your money back, Bhatia says. | While financial institutions, regulatory bodies are all trying to ramp up cyber security, it is also just as important that we do our bit in protecting our hard-earned money from such scams.

Since Friday, shares of Adani Enterprises have increased by roughly 35%, while the total market value of Adani stocks has increased by 16%

Adani stock is up 5%, constant purchasing For the fourth day in a row

Since Friday, shares of Adani Enterprises have increased by roughly 35%, while the total market value of Adani stocks has increased by 16%

Three out of ten Adani stocks were locked in their respective 5% upper circuit limits on Wednesday. For the 4th day, many of the Adani group stocks saw the rally continue.&nbsp;
Adani Transmission, Adani Total Gas, and NTDV all saw 5% increase in share prices, while Adani Green and Adani Power saw a 4% increase on Wednesday morning. However, the group's flagship company Adani Enterprises and Adani Ports, saw some decline in their share prices.&nbsp;
Since Friday, shares of Adani Enterprises have increased by over 30%.&nbsp;
Since the report on the Hindenburg issue from the Supreme Court-appointed committee was made public and the last four trading sessions began, the combined market capitalization of Adani stocks has increased by around ₹2 lakh crore or 16% to ₹11 lakh crore.
The Supreme Court panel, led by former judge Justice AM Sapre, stated in its 173-page report, that there was no evidence of regulatory failure by capital markets regulator SEBI.&nbsp;

The last date for filing Income Tax returns for fiscal 2022-23 for people who do not need to get their accounts audited is July 31

ITR online filing: taxpayers can now file their returns for ITR forms ITR-1 & ITR-4 

The last date for filing Income Tax returns for fiscal 2022-23 for people who do not need to get their accounts audited is July 31

The Income Tax department has enabled online filing of income tax returns (ITRs) 1 and 4, filed by individuals, professionals and small businesses, for 2022-23 fiscal.
In a tweet, the income tax department said, the software/utilities for preparing other ITRs/ Forms will be enabled shortly.
"ITR 1 and 4 for A.Y. 2023-24 are enabled for filing in online mode at e-filing portal," the department said in reply to a tweet by an individual.
The last date for filing Income Tax returns for fiscal 2022-23 for people who do not need to get their accounts audited is July 31.
ITR-1 is filed by individuals, including salaried class and senior citizens.
ITR-2 is filed by businesses and professionals who have opted for presumptive taxation and those individuals whose annual income doesn't exceed Rs 50 lakh.

On this episode of Invest Smart, Editorji's Avni Raja speaks to Kalpesh Ashar, CFP, RIA about financial obstacles and how to overcome them. 

Invest Smart: How to overcome financial obstacles 

On this episode of Invest Smart, Editorji's Avni Raja speaks to Kalpesh Ashar, CFP, RIA about financial obstacles and how to overcome them.&nbsp;

Setting financial goals is perhaps one of the most crucial aspects of beginning your financial planning journey.
We often talk about creating financial goals and how to reach them. However, sometimes while trying to reach those goals, there could be some unexpected obstacles that could come in the way. It's important to know how to overcome such obstacles or even prevent them whenever possible.&nbsp;
Some obstacles that investors often have to deal with include overcoming a negative cash flow or the problems caused by investing in an illliquid asset.&nbsp; "The EMI of the loan for some people constitutes 60% of their total monthly income thus rendering them into a cash crunch at the end of each month", says Kalpesh Ashar, CFP &amp; RIA.&nbsp;&nbsp;
Another instance is the fallout of insurnace mis-selling. "There are many Individuals that are stuck in numerous &lsquo;investment cum insurance policies&rsquo; where more than 50% of their annual income is used in making the premium payments. Thus, leaving a sum of paltry cash in hand for them to live a comfortable life", Ashar points out.&nbsp;&nbsp;