Here is a round-up of various developments leading up to Diwali, from festive shopping offers, loans, cybersecurity, crypto gifts, and debt to gift taxation, curated for you.
Ahead of one of India’s most important holidays, the festival of Diwali, we carried a series of articles covering various topics related to the festivities. As revelers gear up for Diwali—shopkeepers, e-commerce companies, and banks unleashed a deals bonanza, from mega retail discounts and low-interest loans to freebies, to attract consumers. However, reckless spending, unwanted debt, and unsafe transactions could jeopardize your budget and financial security if not taken care of.
Here is a list of various Diwali-centric stories that could help you navigate the pitfalls while doing Diwali shopping.
Banks Slash Home Loan Rates
Home loans look tempting as banks continue to cut their interest rates on such borrowings, but before you sign up for a home loan, it is vital to understand the finer details of processing fees, interest rates, etc. Read More.
Significance Of Muhurat Trading Diwali
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) carry out Muhurat Trading during the Laxmi Puja ceremony every Diwali. This annual ritual is considered auspicious as it is believed to bring wealth and good luck all year round. Read More.
Gifting Cryptos, Non-Fungible Tokens This Diwali Will Attract Tax
Gift tax provisions will apply if you are gifting cryptocurrency, non-fungible tokens (NFT), or any crypto-related assets unless received from specified relatives. Digital tax laws would also apply if the gift is sold. Read More.
Diwali Bonus, Cashbacks, And Free Coupons Could Attract Tax
Gifts received from relatives are tax-free, but bonuses from an employer, cashbacks, gift coupons from businesses, etc., are taxable. Read More.
Be Wary Of Suspicious Smartphone Apps This Diwali
As more people use mobile phones for online shopping, it is imperative to understand the security threats on the internet to ensure a safe shopping experience. Pune-based cybersecurity firm Quick Heal says cyber-attacks typically rise during the festive season. Read More.
Check Details Before Opting For Buy Now Pay Later (BNPL) Plans
Buy Now Pay Later offers can provide one with easy access to credit. That said, one should always check for hidden charges and late fees before availing of them. Read More.
Gifting Stocks This Diwali? Know The Process, Taxation
You can gift any listed stocks in both online and offline modes. You will need a delivery instruction slip (DIS), the know-how of your broker’s back office system terminal, ID, etc., to complete the process. Read More.