Anjali, a 38-year-old chartered accountant in Mumbai, sold a flat she had inherited from her grandmother. A week later her tax consultant called to discuss "long-term capital gains". Suddenly it mattered: how much tax did she owe, could she reinvest to save, and what records did she need? Her experience captures why understanding what is capital gain has become essential financial knowledge for anyone owning property, equity or gold.
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Have you ever found yourself juggling multiple expenses at once? For instance, a sudden medical bill pops up right when you were already budgeting for a big home renovation project.
Purchasing a house is one of the most important events in one's life. Mr. Rohit Bawa wanted to move from his rented home to a house of his own. But he did not have the required funds for paying the down payment for a home loan. So, he considered getting personal loans for a down payment on a house.
Rahul had taken a personal loan two years ago to fund a family emergency. He paid his EMIs diligently for 18 months. Then came an unexpected job loss. Struggling to keep up, he called his lender and asked: “Can I just settle the loan?” The lender said yes - for a reduced amount. Rahul thought he had dodged a bullet.
Two people borrow money. Same amount, same month. One loses their house when they cannot repay their debts. The other gets collection calls.
Sometimes life does not wait for your savings to catch up. A medical emergency crops up mid-month, the car needs urgent repairs right before a road trip, or a once-in-a-lifetime holiday deal expires tomorrow.
Priya is 38 and sitting at her dining table on a Saturday morning with two school fee invoices and a calculator in front of her. The family moved cities last year, which means her elder son is starting Class 5 at a new tier-1 CBSE school.
Karan is 29 and just got his admission letter for a 15-month weekend Executive MBA at a tier-1 business school. The first instalment of Rs 4 Lakh is due in seven days. His bank's education loan team has quoted a three-to-four week timeline, an employer NOC, and a co-applicant requirement that the part-time format makes awkward. Karan has Rs 1.5 Lakh in savings. His next salary credit cannot bridge the rest.