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This Week in Finance: TDS on Rent, Foreign Transfers & Insurance Mis-selling | CS Soumya Jain

Stay updated with the latest financial news in this week's "Weekly Economic Insights" with CS Soumya Jain! Discover how changes in TDS rules, rising concerns over insurance mis-selling, and tax notices for foreign transfers could impact your personal finances. In this week's episode of "Weekly Economic Insights," we explore critical updates that could shape your financial decisions. Learn how these developments and market trends are designed to enhance your financial well-being. Don’t miss our 'Expert's Take' segment, where Nisha Sanghavi, Director and Co-Founder at ProMore Fintech, shares insights on the alarming rise in life insurance mis-selling as reported by IRDAI. Understand the impact of these unfair practices and what you can do to protect yourself. This week's highlights include: -Life Insurance Mis-selling Concerns: Expert Nisha Sanghavi discusses the rising cases of mis-selling in the insurance sector, with 20% of complaints for life insurers linked to unfair practices. Learn how this issue is catching policymakers' attention. -New TDS Rules on House Rent Payments: Starting October 1, 2024, the TDS on house rent payments over ₹50,000 will drop from 5% to 2%. Discover how this change could ease financial pressure on tenants. -Tax Notices for High-Value Foreign Transactions: Be aware of potential tax notices if you’ve sent over ₹6 lakh abroad for education, family support, or investments, and learn how to stay compliant. -IRDAI’s New Guidelines to Protect Policyholders: Explore the new measures introduced by IRDAI to enhance transparency, reduce mis-selling, and improve service efficiencies in the insurance sector. -Withdraw EPS Pensions From Any Bank Starting 2025: Understand how the new system will benefit pensioners by allowing withdrawals from any bank in India, enhancing convenience and mobility. -SEBI Report on IPO Share Sales: Discover the key findings from SEBI's study on IPO share sales, revealing that 54% of IPO shares are sold within days of listing, and understand what it means for investors. -India's Forex Reserves Hit Record High: India’s forex reserves have reached a new record of USD 681.69 billion, providing a positive outlook for economic stability and investor confidence. Whether you’re a seasoned investor or just starting to navigate the complexities of personal finance, these insights are essential for making informed decisions. Timestamps: 00:00 - Welcome to Weekly Economic Insights 00:14 - Life Insurance Mis-selling Concerns 04:13 - New IRDAI Guidelines Aim to Protect Policyholders' Interests 05:14 - Withdraw EPS Pensions From Any Bank Starting 2025 05:54 - New TDS on House Rent 06:50 - Tax Notices for Spending ₹6 Lakhs on Foreign Transactions 07:57 - SEBI Report Reveals 54% of IPO Shares Sold Within Days of Listing 08:58 - India's Forex Reserves Hit Record High 09:53 - SEBI Chairperson on ₹250 SIP Make sure to hit like, leave a comment with your thoughts, and share it with your friends. Don't forget to subscribe for more weekly economic insights! Follow us on social media LinkedIn:   / 1financehq   Twitter:   / 1financehq   Instagram:   / 1financehq   YouTube:    / @1financehq   About 1 Finance At 1 Finance, we are reimagining the landscape of personal finance advisory in India. We are dedicated to delivering holistic financial planning tailored to your individual needs and life aspirations. It's this distinctive approach that sets us apart. Through the expertise of our qualified financial advisors, we guide you towards tranquillity by offering hyper-personalised and unbiased advice, empowering you to attain a state of financial well-being. Financial well-being can be defined as a state of being wherein a person can fully meet current and ongoing financial obligations, can feel secure in their financial future, and is able to make choices that allow enjoyment of life. We are financial products agnostic, ensuring we are 100% unbiased, with no commission focus, and a commitment to no spam. 1 Finance is based in Mumbai and is backed and mentored by marquee investor Marwadi Chandarana Group — a pioneering force in India’s financial services sector that also powers successful operations in the fields of education and alternative energy. The Marwadi Chandarana Group also comprises Marwadi University, Marwadi Financial Services, Pixon, and Marwadi Chandarana Intermediaries Brokers Private Limited (MCIBPL). *Disclaimer: Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL and certification from National Institute of Securities Markets (NISM) in no way guarantee performance of the intermediary or provide any assurance of returns to investors.