Greeting To Our Readers!
We are in the last month of the year 2021. In the next few days we will be celebrating the new year, and with the new year will come new resolutions, financial planning, financial investment, vacation planning, and many more.
Well, before we enter 2022, there are still a few things that you must know!
Yes! In December 2021, there are several money matters for which the rules will change. Here are some key regulatory and operational changes that are likely to affect your financial life.
31st December 2021- Last Date To File ITR……
The deadline to file your income tax returns for the assessment year 2021-22 (the financial year 2020-21) is December 31, 2021. But it is better to start now if you haven’t filed the income tax returns till now.
Do get your ITR filed before 31st December 2021.
Term Insurance Premiums May Rise From December…….
Term Insurance Premiums are likely to see a spike again in December 2021. his time, the jump is likely to be between 25-45 percent on the back of rising reinsurance rates in the global market, say, industry watchers.
It is a must to know, that the country enjoyed low term insurance rates for the last 10 years. However, this time, the rates might spike.
If talk about the reason then it's none other than the pandemic-driven higher death rate. So basically, if you need additional term insurance cover, you should not delay the purchase any further.
EMI Purchases Via SBI Credit Cards Got Expensive………
SBI Cards & Payment Services Private Limited announced that they will charge flat processing fees of Rs 99 plus taxes on all equated monthly installment (EMI) transactions. The new rule got effective from December 1st, 2021.
The company will charge the processing fees for all EMI transactions done at retail outlets and e-commerce websites such as Amazon and Flipkart. These charges are over and above the interest charges for converting the purchase into EMIs.
SBI customers were informed about the new rule by email.
SEBI Introduces Potential Risk Class Matrix For Debt Fund Investors……
To further empower debt fund investors, the Securities Exchange Board of India (SEBI) has come out with a mechanism that defines the maximum quantum of risk a scheme can take.
Effective from December 1, all existing and new debt schemes will be classified in terms of a Potential Risk Class Matrix (PRCM), comprising parameters based on maximum interest rate risk (measured by the Macaulay Duration (MD) of the scheme) and maximum credit risk (measured by Credit Risk Value (CRV) of the scheme).
Keep reading our article and stay updated with the latest news about Mutual Funds!
For any kind of query, you can contact us at Shri Ashutosh Securities Pvt Ltd., we are here to help you in any way possible.
Happy Investing!
(Mutual Fund investments are subject to market risk Illustrations are for example only, there is no guarantee of returns. Past performance is not an indicator/guarantee to future returns).