Personal Finance News
Practical news and updates on money management — from tax-saving strategies and insurance changes to loan rate adjustments and credit card offers. This section focuses on what directly impacts your wallet: new government schemes, changes in income tax rules, bank interest rate revisions, and tips on budgeting and building wealth. Whether you are planning for your first investment or optimising an existing financial plan, the updates here help you make smarter everyday money decisions.
Businessman gets ₹23L via RTGS, bank freezes his account over income mismatch; HC rules in his favour — here's why
A businessman received ₹23 lakh via RTGS but had his account frozen by the bank due to an income mismatch. The Allahabad High Court ruled in his favor, ordering the bank to pay ₹50,000 in compensation. Here's what happened.
Why risk is becoming more distributed across India’s lending ecosystem
India’s lending ecosystem is becoming more interconnected as banks, NBFCs and fintechs take on specialised roles. This shift is distributing lending risk while making data sharing, technology and coordination increasingly important.
EPF inoperative accounts: When does your balance stop earning interest? EPFO explains 4 key cases
EPFO has clarified when an EPF account becomes inoperative and stops earning interest. Here are four retirement‑age examples, key rules and practical steps members should know to manage old balances.
Selling your old phone, furniture or jewellery? Know when you have to pay tax and what counts as ‘personal effects’
Profits from selling an asset is generally subject to income tax, but there are certain exceptions which are categorised as ‘personal effects’ by the income tax department. Here's when you have to pay tax and when the sale of an item is exempt from tax.
Turning 60? These financial benefits can cushion your retirement
Senior citizens in India get higher interest rates, tax concessions and discounts on travel and utilities—but with retirement largely self-funded, building a sufficient corpus remains crucial.
Can a govt employee switch pension scheme after accepting retirement benefits? SC clarifies
The Supreme Court ruled that a retired employee cannot switch pension schemes after accepting benefits. This arose from a case where a retired professor sought GPF coverage after being under CPF. Details of the full case here.
8th Pay Commission: Can government amend ToR to cover pension revision for pre-2026 retirees?
The 8th Pay Commission’s Terms of Reference could be amended to include pension revision for retirees who retired before 1 January 2026. While the Centre has yet to announce any change, historical precedents show that the ToRs of earlier Pay Commissions have been amended and improved when required.
Joint FCNR (B) accounts for NRIs: Eligibility, mode of operations and key rules explained
NRIs are permitted to open and maintain FCNR(B) accounts jointly with eligible resident relatives, subject to certain conditions.
Doctor today, lawyer tomorrow: How do you save for your child’s education when they keep changing dreams?
In 2026, planning for a child's education fund is complex due to shifting career paths. Experts advise creating flexible investment structures.
ITR filed successfully? Here are 8 income tax notices the department may send and what to do about them
Income Tax Returns (ITRs) are essential for lenders to assess borrowers' financial stability. Taxpayers should monitor communications from the Income Tax Department post-deadline for any discrepancies in filings. While minor errors can be resolved, serious issues may lead to scrutiny.
Consistency beats quick fixes — 5 simple habits to build a bulletproof credit score
Credit score assessment relies heavily on four pillars: your track record of repaying debts, the proportion of available funds you currently use, the longevity of your active accounts, and the frequency of your recent loan applications.
Claiming both HRA exemption and home loan interest deduction: Know when it is allowed — and when it's not
Claiming HRA along with home loan benefits is allowed in certain situations, but mismatches in rent, property status, or loan details can attract tax notices. Here’s what taxpayers should know about location rules, eligibility, and documentation. 
How to find the best mortgage: Compare home loan rates of leading Indian banks
State-backed lenders often provide competitive interest terms based on loan brackets. Bank of Maharashtra offers interest rates ranging from 7.00% to 9.90%, while the rates at Central Bank of India range between 7.00% and 9.15%.
Want free airport lounge access without spending more? 5 credit cards travellers can consider in August this year
Credit cards now offer valuable perks like complimentary airport lounge access, which is becoming harder to obtain for free due to banks tightening policies. However, some cards still provide unlimited access without spending thresholds. Check details
Filing ITR by 31 August? Know the right forms for taxpayers with business or professional income
With the 31 August ITR deadline approaching, business and professional taxpayers need to know which return applies to them and which supporting tax forms may be relevant. From ITR-3 and ITR-4 to TDS and audit-related forms, here’s what to check before filing.
Section 54F tax exemption with 2 houses? Steps to claim benefit after share sale explained
Section 54F exemption: Explore steps to claim tax benefit following share sale in case of 2 houses. Chartered accountant Mahesh Nyak answered how one can claim exemption through HUF transfer.
₹70,000 crore and growing: India’s family office assets set to rise 1.5x in three years — where are wealthy investing?
India's family office ecosystem is poised for significant growth, with assets estimated at ₹70,000 crore in 2024 and projected to grow 1.5 times in three years. Here's a list of investment avenues that are gaining traction among the country's richest families.
Income Tax Dept flags ₹2.33 crore cash deposit; why taxpayers need a clear trail for large cash withdrawals
The ITAT deleted a ₹2.33 crore tax addition after finding that Bhupendra Flour Mills had recorded earlier cash withdrawals of ₹2.325 crore and the Income Tax Department could not prove the money was used elsewhere. 
₹51 lakh gone in a ‘digital arrest’ scam: How fraudsters targeted a retired income tax officer
A retired income tax officer was defrauded of ₹51 lakh by fraudsters impersonating police from Lucknow, who claimed he was under investigation for money laundering. Here's what happened.
₹51 lakh gone in ‘digital arrest’ scam: How fraudsters targeted retired income tax officer
A retired income tax officer was defrauded of ₹51 lakh by fraudsters impersonating police from Lucknow, who claimed he was under investigation for money laundering. Here's what happened.
ITAT deletes ₹25 lakh tax addition over alleged flat cash payment; says taxpayer must get a chance to challenge evidence
The Mumbai ITAT deleted a ₹25 lakh tax addition imposed on a flat buyer over an alleged cash payment, saying the taxpayer was not given the statements relied upon by the tax department or an opportunity to cross-examine the builder’s partners.
Delhi Lakshmi Yojana: Eligible women to receive pension letters from Aug 26 — here’s when ₹2,500 aid will be credited
Starting August 26, eligible women in Delhi will receive pension letters under the Delhi Lakshmi Yojana, which offers ₹2,500 monthly assistance. Here's when the aid will be credited.
Delhi Lakshmi Yojana: Eligible women to receive pension letters from 26 August — here’s when ₹2,500 aid will be credited
Starting from 26 August, eligible women in Delhi will receive pension letters under the Delhi Lakshmi Yojana, which provides ₹2,500 per month. Here's when the aid will be credited.
Taxpayer builds new house before selling old property, faces Section 54 dispute; ITAT Delhi quashes tax notice
A Delhi taxpayer faced denial of Section 54 exemption after constructing a new house before selling his old property for ₹53 lakh. ITAT Delhi quashed the reassessment after ruling that the Income Tax Department’s Section 148 notice was issued after the permissible limitation period.
ITR filing 2026: What happens if you miss the August 31 deadline and who gets more time?
The income tax return filing deadline for ITR-3, ITR-4, ITR-5, and ITR-7 is August 31, 2026. Missing this deadline incurs penalties, but options like belated returns exist until December 31, 2026. Here's who gets more time to file.
Flexi-cap funds with highest and lowest large-cap stock allocation: What the data shows
Flexi-cap funds can vary sharply in their large-cap exposure despite having the flexibility to invest across market segments. Some of the biggest funds have a strong large-cap tilt, while others take a more diversified approach—creating an important distinction for investors to examine.
Building a new house before selling the old one: Does Section 54 tax exemption apply? Rules explained
Starting construction before selling your old house does not automatically rule out the Section 54 exemption. Find out when the exemption can apply, the three-year completion rule, CGAS requirements, key risks and documents taxpayers should maintain.
SBI slashes bulk fixed deposit rates: Will the latest changes affect your personal savings? Check here
SBI has reduced rates on domestic bulk term deposits by up to 25 basis points for select maturities.
Madhya Pradesh Ladli Behna Scheme: CM Mohan Yadav disbursed ₹1500 monthly installment; did you receive?—how to check
Madhya Pradesh CM Mohan Yadav transferred ₹1,750 to over 1.25 crore beneficiaries under the Ladli Behna scheme, including a ₹250 Raksha Bandhan gift, to promote women's financial independence. He emphasised the importance of women’s roles in family and society at a state-level event in Maihar.
SBI cash withdrawal charges: Digital transactions now count for 4 BSBD free withdrawals; pay ₹15 + GST after
State Bank of India has updated service charges for Basic Savings Bank Deposit accounts, effective October 1, 2026. 
SBI cash withdrawal charges: Bank changes BSBD free transaction rule; check what changed, ₹15 fee and when it kicks in
State Bank of India has updated service charges for Basic Savings Bank Deposit accounts, effective October 1, 2026. 
Investor vs trader: How stock market income is taxed, which ITR form to file and key conditions explained
Stock market investors and traders are taxed differently based on the nature of their activities. Both may also have to file different ITR forms. Here are the key rules, classification factors and common filing mistakes to know.
Form 146 for foreign remittances: Who needs a CA certificate and how taxpayers can file it — step-by-step guide
Form 146 is a CA-certified document for certain taxable foreign remittances. It helps determine the taxability and TDS applicable to overseas payments above the prescribed threshold. Here’s when it is required, who files it and how taxpayers can use it.
Career pivots are costly. How should parents plan for them?
While children tend to change interests and, in turn, career paths, the financial challenge of planning ahead remains: how do parents engineer an education fund that is flexible enough to accommodate possible changes in plans?
Earning ₹2 lakh a month, but still feel broke? Run this 20-minute money audit, suggests investment adviser
High earners often feel financially stretched. Investment adviser Abhijit Kumar suggests a five-step financial audit to track spending and savings. 
Looking for stock tips? Here’s a good one: don’t ask an economist.
An IIM professor explains why trying to pick individual winning stocks is a losing game, and why discipline and diversification are the real keys to long-term wealth.
Business cycle funds: the next big category or another investment promise?
In business cycle funds, the real work for investors isn't picking the category but picking the manager they trust to deliver on that category.
Landlord lost ₹2.71 lakh TDS credit after SBI error; ITAT says tax department must give full credit
SBI mistakenly reported ₹4.06 lakh TDS against one landlord’s PAN on jointly owned property, leaving ₹2.71 lakh of credit disputed. ITAT Agra ruled that the landlord should receive the full TDS credit after the other co-owners did not claim their share.
Business income above ₹1 crore? You must make this disclosure in your ITR before August 31 deadline
Taxpayers with business income over ₹1 crore must report assets and liabilities in Schedule AL when filing ITR. Details here.
PLFS July 2026: Unemployment falls to 5.1%, rural employment rises and female participation jumps; check 3 major trends
India’s labour market improved in July 2026, with overall labour force participation rising to 55.4% and unemployment falling to 5.1%, driven largely by rural India. Female labour force participation also jumped sharply, but urban female unemployment rose to 8.8%, highlighting a mixed jobs picture.
Property dealer deposits ₹54 lakh cash, faces tax demand: Why Delhi ITAT ruled the money was not his taxable income
A Delhi ITAT ruling has come to the aid of a property dealer after it deleted a ₹54 lakh tax addition, finding that the cash deposited in his bank account belonged to property buyers. 
Sold agricultural land in your hometown? Check if you need to pay capital gains tax on the sale s
Selling agricultural land impacts tax obligations, depending on location. Rural land is exempt from capital gains tax, while urban land incurs tax. All FAQs answered here.
Sold agricultural land in your hometown? Check if you must pay capital gains tax on the sale
Selling agricultural land impacts tax obligations, depending on location. Rural land is exempt from capital gains tax, while urban land incurs tax. All FAQs answered here.
Sold agricultural land in your hometown? Check if you need to pay capital gains tax on the sale proceeds
Selling agricultural land impacts tax obligations, depending on location. Rural land is exempt from capital gains tax, while urban land incurs tax. All FAQs answered here.
When it comes to investing, risk is loud. Opportunity is quiet.
Why humans overestimate downside and underestimate potential upside.
Flexi-cap funds received 3x more inflows than multi-caps in FY26 despite similar returns: What should investors do?
Flexi-cap and multi-cap funds both invest across large-, mid- and small-caps, but their mandates differ. Despite similar returns, FY26 saw a sharp divergence in inflows. What is driving investor preference, and should investors rethink their multi-cap holdings?
Trump used direct indexing to save on taxes. What is the strategy, how does it work and should you follow it too?
In 2025, Trump's direct indexing strategy garnered attention for its trading efficiency and tax savings. 
Insurance industry grew 9% in FY26, health and motor fastest growing segments, finds BCG report
India's general insurance industry grew 9% in FY26 to ₹336,000 crore, with health and motor being the fastest growing segments due to pick up from GST rate rationalisation, according to a BCG report.
EPFO's insurance scheme explained: Here's how members can file EDLI claims, avail up to ₹7 lakh benefit at no extra cost
The EPFO's Employees Deposit Linked Insurance Scheme (EDLI) offers insurance for members and ensures that their families receive financial payout in case of death. Here's how to claim up to ₹7 lakh benefit at no additional cost… 
Delhi Lakshmi Yojana: ₹2,500 aid cannot be spent on tobacco, gambling and...; here's what’s banned?
The Delhi Lakshmi Yojana provides ₹2,500 monthly to eligible women from low-income families, effective August 1. Beneficiaries face strict eligibility checks and spending restrictions.
Frequently Asked Questions
How much of my income should I save and invest?
A widely recommended starting point is the 50-30-20 rule: 50% for needs (rent, food, EMIs), 30% for wants (dining, travel, entertainment), and 20% for savings and investments. If you can push investments to 30-40% of income, you will reach financial goals much faster. The exact ratio depends on your income level, fixed obligations, and goals. The most important thing is to automate your savings on salary day so you invest before you spend.
Should I pay off debt or invest first?
It depends on the interest rate. High-interest debt like credit card balances (30-40% APR) or personal loans (12-18%) should be paid off aggressively before investing, because no investment reliably returns more than these rates. For lower-rate debt like home loans (8-9%), it often makes sense to invest simultaneously — especially in equity, which historically returns 10-12% over the long term. Always maintain an emergency fund regardless.
What insurance coverage do I actually need?
At minimum, you need a term life insurance policy (10-15x your annual income, pure term plan, not endowment or ULIP) and a health insurance policy (Rs 5-10 lakh base cover, preferably with a super top-up). If you have dependents, life insurance is non-negotiable. Health insurance is essential for everyone — a single hospitalisation can wipe out years of savings. Avoid mixing insurance with investment; keep them separate for better value.