Lied in your tax return? You are liable, not your ITR preparer and here's how to save yourself

THE ECONOMIC TIMES Tue, Jul 31, 2018 | 06:31 AM IST ET Wealth Newsletter

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Lied in your tax return? You are liable, not your ITR preparer and here's how to save yourself Thousands of taxpayers file faulty tax returns. For that, the taxpayer is liable, not the ITR preparer. 7 ITR filing 'clever' moves that the tax department will spot easily One might find it easy to get away with small changes in declaring facts or hiding minor details while filing ITR but these acts must be avoided. Seven small steps that can help you save lakhs in 10 years From cutting down on caffeine to being more energy efficient, here are some cost-cutting measures that can help you accumulate a tidy sum. Inside PayPal's second coming in India It may not be right to see PayPal's charge with the same lenses as India's freshly minted payments firms. Airtel manages to hold on in the face of Jio's onslaught It is important for incumbents to focus on implementing the right subscriber-retention strategies instead of matching Jio's price points. Rising fuel costs end three-year dream run for airlines A falling rupee has added to their woes, and the going will get even tougher. From our Partners FAQs About Recurring Deposits: Everything you need to know Unlike Fixed Deposit, you can deposit a fixed sum with your Bank or Post Office for a pre-defined term every month. From our Partners Healthcare rates could be 20% lower than CGHS under Modicare The National Health Protection Scheme (NHPS), more commonly known as 'Modicare', is set to provide common treatments such as C-section, knee replacement, and coronary bypass surgery at rates that are 15-20% less than what's offered by the Central Government Health Scheme (CGHS). 5 mid and small cap stocks you can consider buying now The recent bloodbath in mid- and small-cap stocks can be attributed to forced selling by mutual funds following the recategorisation exercise. Auto and ancillary sector prospects are bright: Here are 8 stocks to buy now Government thrust on infrastructure spending, pick up in economic activity and enhanced rural income have improved the sector's prospects. Top Mutual Funds SCHEME NAME RATING 1 M(%) 6 M(%) 1 YR(%) 3 YRS(%) JM Core 11 Direct Plan-Growth 8.94 3.37 11.72 17.00 JM Core 11 Fund-Growth 8.86 2.95 10.82 15.39 Axis Bluechip Fund Direct Plan-Growth 5.16 11.62 23.27 14.31 ICICI Prudential Nifty Next 50 Index Direct-Growth 4.68 -3.32 6.77 13.86 IDBI Nifty Junior Index Fund Direct-Growth 4.61 -3.61 6.09 13.55 FeaturedDSP BlackRock Focus Direct Plan-Growth ★★★★★ 6.25 -0.34 7.52 9.77 Start SIP Balanced advantage versus balanced mutual funds: Which is better? What you need to focus on is if there is any merit in the 'advantage' tag and if these are better options than normal balanced funds. 10 career lessons from the game of poker Whatever the situation or the lay of cards, there is always a good move to be played by you. Here are some good moves for your career.

Financial Calculators New LTCG tax calculator: Plan, compute your tax Use this tool to calculate long-term capital gains (LTCG) and the corresponding LTCG tax for listed shares and units of equity-oriented mutual funds. Tax Impact Calculator This tax calculator will help you estimate your tax liability. Just input your personal income details and know how much you would be liable to pay.

Consumption stocks are likely to gain from GST rate cut Of the 50-odd items that are under 28% tax slab, 19 will see a cut in taxes. Tax rates on select items from other slabs of 18% and 12% have also been lowered. Equity MFs can help ensure your investment income beats inflation after retirement: View Retirement takes place on an appointed day, but retired life can last decades. Confusing the two could lead to financial problems in old age. How to ensure safety of financial data on digital platforms These simple measures can ensure that you do not become a victim of fraud, even as you continue to enjoy the benefits of digital transactions. Credit card lost, misused? Here's how to claim compensation The cardholder should notify the bank about the loss and block the card's usage to ensure that diligent action to minimise loss has been taken. Financial planning skills are best learnt from parents, not at school The responsibility of nurturing the right attitudes about money which play a key role as an adult, lies primarily with parents and not the school. Realty Hotspot Series: What makes Bellary Road, Bengaluru an attractive residential destination In this week's realty hotspot series we turn the spotlight on Bellary Road Bengaluru which is well connected to the rest of the city. Why debt-to-income ratio is as important as credit score while taking loans While the credit score mentions how the earlier loans were serviced, it says nothing about the ability to service more loans. We need to educate people about benefits of insurance: G Murlidhar, Kotak Mahindra Life Insurance "We are focusing on protection products, both in the group and individual segments. These accounts for 22% of our total premiums," says Murlidhar. How to invest in ELSS to save tax ​An essential requirement for investing in mutual funds is KYC compliance by providing proof of address and identity which is mandatory for ELSS too. SBI Magnum Multicap Fund: Dependable flexi-cap offering Rather than being driven by a single fund manager, a team of in-house analysts contributes the best picks within each sector under the fund's coverage. Family Finance: Why Iyer needs to increase his equity investment Deepak Iyer is an IT professional and stays in Pune with his wife and son. With a high realty skew, they will now need to invest in equity to reach their goals. Stock pick of the week: Why analysts are bullish on SRF A sharp cut in valuations, capex aimed at cutting costs and improving prospects of its nylon fabric business have made SRF analysts' top pick. MF Portfolio Doctor: Why Jain's ambitious goals are within easy reach The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and recommends corrective measures. Startup Squats offers tailor-made fitness solutions Squats, a Pune-based health and wellness startup founded by Jitendra Chouksey, is fast becoming fitness enthusiasts' favourite go-to place. Alternative investment returns monitor: For the week ending July 25, 2018 Here's a weekly tracker of returns from Alternative investments but don't compare these with returns from traditional investments.

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