Neil Borate
@neilborate.bsky.social
Personal Finance Editor, Mint (Livemint.com)
What is life like in Nordic countries? My colleague Shipra Singh spoke to an NRI family. After 31.4% social security & 25% tax on bal (comes to 17.15%), they have 51% to spend/save. In return free healthcare & education. Recently bought house in India for retirement
www.livemint.com/money/person...
www.livemint.com/money/person...
February 18, 2025 at 1:12 AM
What is life like in Nordic countries? My colleague Shipra Singh spoke to an NRI family. After 31.4% social security & 25% tax on bal (comes to 17.15%), they have 51% to spend/save. In return free healthcare & education. Recently bought house in India for retirement
www.livemint.com/money/person...
www.livemint.com/money/person...
At lower levels of income (below 24 lakh) there is no TAX advantage in equity. So in FIRE/retirement you can take up to 24 LPA in FD or bond interest & park rest in equity. Story by @PosteAnil www.livemint.com/money/person...
PS: I recorded a video about this already
PS: I recorded a video about this already
February 10, 2025 at 3:01 AM
At lower levels of income (below 24 lakh) there is no TAX advantage in equity. So in FIRE/retirement you can take up to 24 LPA in FD or bond interest & park rest in equity. Story by @PosteAnil www.livemint.com/money/person...
PS: I recorded a video about this already
PS: I recorded a video about this already
Small credit card issues can snowball. If you refuse to pay the disputed amt, bank adds interest. Credit score goes for a toss.
A better approach? Pay & file complaint. For their part, banks must not sacrifice service for growth.
www.livemint.com/money/person...
A better approach? Pay & file complaint. For their part, banks must not sacrifice service for growth.
www.livemint.com/money/person...
February 4, 2025 at 9:01 AM
Small credit card issues can snowball. If you refuse to pay the disputed amt, bank adds interest. Credit score goes for a toss.
A better approach? Pay & file complaint. For their part, banks must not sacrifice service for growth.
www.livemint.com/money/person...
A better approach? Pay & file complaint. For their part, banks must not sacrifice service for growth.
www.livemint.com/money/person...
What happens if income > 12 lakh by 1 rupee?
Ans: Tax from 4 lakh. But, you get marginal relief (see table).
Good? Sort of, but tax eats your additional income 100%.
Claiming standard deduction? Zone from 12.75 to 13.5 lakh.
www.livemint.com/money/person...
Ans: Tax from 4 lakh. But, you get marginal relief (see table).
Good? Sort of, but tax eats your additional income 100%.
Claiming standard deduction? Zone from 12.75 to 13.5 lakh.
www.livemint.com/money/person...
February 3, 2025 at 4:00 AM
What happens if income > 12 lakh by 1 rupee?
Ans: Tax from 4 lakh. But, you get marginal relief (see table).
Good? Sort of, but tax eats your additional income 100%.
Claiming standard deduction? Zone from 12.75 to 13.5 lakh.
www.livemint.com/money/person...
Ans: Tax from 4 lakh. But, you get marginal relief (see table).
Good? Sort of, but tax eats your additional income 100%.
Claiming standard deduction? Zone from 12.75 to 13.5 lakh.
www.livemint.com/money/person...
Section 54F is a powerful tool to reduce capital gains tax on land, MFs, shares etc. It comes with some conditions though.
By gifting shares, land etc to your family you can utilize it to the fullest.
Shipra Singh explains how.
www.livemint.com/money/person...
By gifting shares, land etc to your family you can utilize it to the fullest.
Shipra Singh explains how.
www.livemint.com/money/person...
January 27, 2025 at 2:40 AM
Section 54F is a powerful tool to reduce capital gains tax on land, MFs, shares etc. It comes with some conditions though.
By gifting shares, land etc to your family you can utilize it to the fullest.
Shipra Singh explains how.
www.livemint.com/money/person...
By gifting shares, land etc to your family you can utilize it to the fullest.
Shipra Singh explains how.
www.livemint.com/money/person...
You can spend money from somebody else's account! BHIM has enabled UPI Circle. My colleague Anil Poste tried it.
You pre-authorize another user to spend from your account via UPI and voila! Employers, kids of elderly parents, many use cases. www.livemint.com/money/person...
You pre-authorize another user to spend from your account via UPI and voila! Employers, kids of elderly parents, many use cases. www.livemint.com/money/person...
January 23, 2025 at 3:10 AM
You can spend money from somebody else's account! BHIM has enabled UPI Circle. My colleague Anil Poste tried it.
You pre-authorize another user to spend from your account via UPI and voila! Employers, kids of elderly parents, many use cases. www.livemint.com/money/person...
You pre-authorize another user to spend from your account via UPI and voila! Employers, kids of elderly parents, many use cases. www.livemint.com/money/person...
People ask why kids aren't taught financial literacy. You can start at home with a kids' bank account. Let them manage it & learn to save and spend wisely.
www.livemint.com/money/person...
www.livemint.com/money/person...
January 22, 2025 at 1:13 AM
People ask why kids aren't taught financial literacy. You can start at home with a kids' bank account. Let them manage it & learn to save and spend wisely.
www.livemint.com/money/person...
www.livemint.com/money/person...
Today my colleague Shipra Singh explains the tax problem in India
1) Growing pendency of appeals even as interest piles up on you.
2) Threat of attachment while appeal is pending.
3) Deposit of 20% of disputed amt to get a stay
All these should be fixed www.livemint.com/money/budget...
1) Growing pendency of appeals even as interest piles up on you.
2) Threat of attachment while appeal is pending.
3) Deposit of 20% of disputed amt to get a stay
All these should be fixed www.livemint.com/money/budget...
January 21, 2025 at 12:32 AM
Today my colleague Shipra Singh explains the tax problem in India
1) Growing pendency of appeals even as interest piles up on you.
2) Threat of attachment while appeal is pending.
3) Deposit of 20% of disputed amt to get a stay
All these should be fixed www.livemint.com/money/budget...
1) Growing pendency of appeals even as interest piles up on you.
2) Threat of attachment while appeal is pending.
3) Deposit of 20% of disputed amt to get a stay
All these should be fixed www.livemint.com/money/budget...
India is an expensive market. Diversify globally through the US via ETFs.
The MF route is mostly blocked. So here's how to do it via foreign brokerages.
Many Indian fintechs have opened pipelines & negotiated favorable exchange rate spreads. www.livemint.com/money/person...
The MF route is mostly blocked. So here's how to do it via foreign brokerages.
Many Indian fintechs have opened pipelines & negotiated favorable exchange rate spreads. www.livemint.com/money/person...
January 20, 2025 at 12:53 AM
India is an expensive market. Diversify globally through the US via ETFs.
The MF route is mostly blocked. So here's how to do it via foreign brokerages.
Many Indian fintechs have opened pipelines & negotiated favorable exchange rate spreads. www.livemint.com/money/person...
The MF route is mostly blocked. So here's how to do it via foreign brokerages.
Many Indian fintechs have opened pipelines & negotiated favorable exchange rate spreads. www.livemint.com/money/person...
A farmer does F&O, makes losses & gets 69 cr tax bill! Why? He didn't report it in the ITR. In F&O, turnover not profit goes to IT Dept. This led to a notice he didn't see & ex parte assessment. Now wants to appeal but must deposit 20% of amount, which he doesn't have. Story by Shipra Sorout.
January 17, 2025 at 8:57 AM
A farmer does F&O, makes losses & gets 69 cr tax bill! Why? He didn't report it in the ITR. In F&O, turnover not profit goes to IT Dept. This led to a notice he didn't see & ex parte assessment. Now wants to appeal but must deposit 20% of amount, which he doesn't have. Story by Shipra Sorout.
Today Sashind Ningthoukhongjam covers some FAQs we got on HUF & tax planning.
www.livemint.com/money/person...
www.livemint.com/money/person...
January 15, 2025 at 2:59 AM
Today Sashind Ningthoukhongjam covers some FAQs we got on HUF & tax planning.
www.livemint.com/money/person...
www.livemint.com/money/person...
Going for holidays off season can save money. Today we document one such story (3.42 lakh for a 12 night Europe trip for the couple). They however did miss their flight in Istanbul & faced an ordeal. Part and parcel of travel. www.livemint.com/money/person...
January 14, 2025 at 4:34 AM
Going for holidays off season can save money. Today we document one such story (3.42 lakh for a 12 night Europe trip for the couple). They however did miss their flight in Istanbul & faced an ordeal. Part and parcel of travel. www.livemint.com/money/person...
Want to retire in Thailand or work from Thailand? There are special visas.
Anyone with a job in India or steady income can get the digital nomad visa.
You just need to show Rs 12.39 lakh in the bank.
www.livemint.com/money/thaila...
Anyone with a job in India or steady income can get the digital nomad visa.
You just need to show Rs 12.39 lakh in the bank.
www.livemint.com/money/thaila...
January 13, 2025 at 2:39 AM
Want to retire in Thailand or work from Thailand? There are special visas.
Anyone with a job in India or steady income can get the digital nomad visa.
You just need to show Rs 12.39 lakh in the bank.
www.livemint.com/money/thaila...
Anyone with a job in India or steady income can get the digital nomad visa.
You just need to show Rs 12.39 lakh in the bank.
www.livemint.com/money/thaila...
A decode by of the various types of financial professionals in India. Post Sebi reforms RIA has gotten slightly easier, and I hope will finally see some growth.
January 10, 2025 at 4:53 AM
A decode by of the various types of financial professionals in India. Post Sebi reforms RIA has gotten slightly easier, and I hope will finally see some growth.
Tourists & NRIs visiting India can use UPI through a wallet!
NRIs with Indian bank accounts already had access to UPI. But this is additional. No need to carry cash around.
If you have friends or relatives visiting from abroad, do get this set up.
www.livemint.com/money/touris...
NRIs with Indian bank accounts already had access to UPI. But this is additional. No need to carry cash around.
If you have friends or relatives visiting from abroad, do get this set up.
www.livemint.com/money/touris...
January 9, 2025 at 3:22 AM
Tourists & NRIs visiting India can use UPI through a wallet!
NRIs with Indian bank accounts already had access to UPI. But this is additional. No need to carry cash around.
If you have friends or relatives visiting from abroad, do get this set up.
www.livemint.com/money/touris...
NRIs with Indian bank accounts already had access to UPI. But this is additional. No need to carry cash around.
If you have friends or relatives visiting from abroad, do get this set up.
www.livemint.com/money/touris...
Prashant Jain is mostly in large caps and very cautious on future returns after the bull run of the past few years. He runs the 3P Investment Managers AIF.
www.livemint.com/money/person...
www.livemint.com/money/person...
January 8, 2025 at 3:33 AM
Prashant Jain is mostly in large caps and very cautious on future returns after the bull run of the past few years. He runs the 3P Investment Managers AIF.
www.livemint.com/money/person...
www.livemint.com/money/person...
Normally, home loan interest deduction is capped at 2 lakh. BUT
1) You can carry it forward to future yrs
2) Add it to cost of acquisition & reduce capital gains. In old & new regime!
CA Gautam Nayak points out in this column.
www.livemint.com/money/person...
1) You can carry it forward to future yrs
2) Add it to cost of acquisition & reduce capital gains. In old & new regime!
CA Gautam Nayak points out in this column.
www.livemint.com/money/person...
January 4, 2025 at 10:24 AM
Normally, home loan interest deduction is capped at 2 lakh. BUT
1) You can carry it forward to future yrs
2) Add it to cost of acquisition & reduce capital gains. In old & new regime!
CA Gautam Nayak points out in this column.
www.livemint.com/money/person...
1) You can carry it forward to future yrs
2) Add it to cost of acquisition & reduce capital gains. In old & new regime!
CA Gautam Nayak points out in this column.
www.livemint.com/money/person...
Why diamonds are not forever. Lessons from two decades of zero returns. www.livemint.com/money/person...
January 2, 2025 at 3:46 AM
Why diamonds are not forever. Lessons from two decades of zero returns. www.livemint.com/money/person...
A new breed of intermediary as emerged - credit card consultant!
A new term - return on spending (RoS). Strange as it sounds, a high spender can max out rewards by card companies & get a 10-20% ROS.
www.livemint.com/money/person...
A new term - return on spending (RoS). Strange as it sounds, a high spender can max out rewards by card companies & get a 10-20% ROS.
www.livemint.com/money/person...
December 31, 2024 at 3:41 AM
A new breed of intermediary as emerged - credit card consultant!
A new term - return on spending (RoS). Strange as it sounds, a high spender can max out rewards by card companies & get a 10-20% ROS.
www.livemint.com/money/person...
A new term - return on spending (RoS). Strange as it sounds, a high spender can max out rewards by card companies & get a 10-20% ROS.
www.livemint.com/money/person...
Is fitness your goal for the new year? We give you an overview of gym costs & offers.
Also, did you know? Many 5 star hotels also give you gym/swim membership or let you book hourly sessions on the go. eg: Hyatt or Lalit.
www.livemint.com/money/person...
Also, did you know? Many 5 star hotels also give you gym/swim membership or let you book hourly sessions on the go. eg: Hyatt or Lalit.
www.livemint.com/money/person...
December 30, 2024 at 2:51 AM
Is fitness your goal for the new year? We give you an overview of gym costs & offers.
Also, did you know? Many 5 star hotels also give you gym/swim membership or let you book hourly sessions on the go. eg: Hyatt or Lalit.
www.livemint.com/money/person...
Also, did you know? Many 5 star hotels also give you gym/swim membership or let you book hourly sessions on the go. eg: Hyatt or Lalit.
www.livemint.com/money/person...
Today we write about CFA v CFP - which certification is more useful in finance. Answer depends on the role you aspire for. CFA for research analysts, fund managers etc while CFP for wealth managers & financial planners. Would you agree?
www.livemint.com/money/person...
www.livemint.com/money/person...
December 27, 2024 at 3:54 AM
Today we write about CFA v CFP - which certification is more useful in finance. Answer depends on the role you aspire for. CFA for research analysts, fund managers etc while CFP for wealth managers & financial planners. Would you agree?
www.livemint.com/money/person...
www.livemint.com/money/person...
Our annual asset allocation quilt is out! As always, the message is diversification - spread your investments across asset classes.
December 26, 2024 at 6:43 AM
Our annual asset allocation quilt is out! As always, the message is diversification - spread your investments across asset classes.
A State Govt backed PSU defaulted on its debt! Today we unearth the story of AP Power Finance Corporation. After bifurcation some bonds were meant to be serviced by Andhra & some by Telangana.
December 25, 2024 at 2:56 AM
A State Govt backed PSU defaulted on its debt! Today we unearth the story of AP Power Finance Corporation. After bifurcation some bonds were meant to be serviced by Andhra & some by Telangana.
Sometimes banks don't issue credit cards to people who don't meet the salary criteria. eg: senior citizens.
Simple solution: Get the card against an FD.
www.livemint.com/money/person...
Simple solution: Get the card against an FD.
www.livemint.com/money/person...
December 24, 2024 at 7:17 AM
Sometimes banks don't issue credit cards to people who don't meet the salary criteria. eg: senior citizens.
Simple solution: Get the card against an FD.
www.livemint.com/money/person...
Simple solution: Get the card against an FD.
www.livemint.com/money/person...
Recently my colleague Anil Poste spoke to a broker who's sold all his property since his son is an NRI.
NRIs have:
1) Higher TDS. Rent at 30%. Sale at 12.5%. TDS on entire sale value, not just gain.
2) No indexation
3) Coming to India for repairs, maintenance etc
4) INR depreciation
NRIs have:
1) Higher TDS. Rent at 30%. Sale at 12.5%. TDS on entire sale value, not just gain.
2) No indexation
3) Coming to India for repairs, maintenance etc
4) INR depreciation
December 23, 2024 at 2:34 AM
Recently my colleague Anil Poste spoke to a broker who's sold all his property since his son is an NRI.
NRIs have:
1) Higher TDS. Rent at 30%. Sale at 12.5%. TDS on entire sale value, not just gain.
2) No indexation
3) Coming to India for repairs, maintenance etc
4) INR depreciation
NRIs have:
1) Higher TDS. Rent at 30%. Sale at 12.5%. TDS on entire sale value, not just gain.
2) No indexation
3) Coming to India for repairs, maintenance etc
4) INR depreciation