Budget 2024 has increased the deduction allowed under Section 80CCD(2) to 14% from 10% of basic salary. Further, it has announced a new scheme for long-term savings for children.

The Indian government has removed the indexation benefit for calculating long-term capital gains (LTCG) on non-financial assets, including property, and lowered the LTCG tax rate to 12.5%. This change may negatively impact investors, especially those with shorter-term investments or have properties in high-investor activity markets like NCR and Mumbai.

In her Union Budget speech for 2024-25, Finance Minister Nirmala Sitharaman said, "NPS-Vatsalya, a plan for contribution by parents and guardians for minors will be started. On attaining the age of majority, the plan can be converted seamlessly into a normal NPS account."

According to SEBI chairperson Madhabi Puri Buch, an increasingly more number of people would be able to invest in mutual funds with the rollout of micro-sized SIPs.

While travelling can be great fun, travel insurance is also crucial for protecting against unexpected events like medical emergencies, trip cancellations, and lost baggage during travel. It ensures financial security and peace of mind, covering various contingencies and offering additional options for tailored coverage. Several reputable companies in India provide comprehensive policies catering to different travel needs.

PAN-Aadhaar Link: To link Aadhaar with a Permanent Account Number (PAN), taxpayers must have a valid PAN, Aadhaar number, and phone number. Taxpayers should note that they are charged ₹1,000 to link the two documents.

A demat account is used to keep company shares or other securities in digital format. The account is needed for trading in stocks and other securities. Keeping your personal details updated in the demat account is necessary for regulatory compliance.