When errors crop up due to lack of awareness you could end up evading tax unknowingly! That could turn out to be a costly mistake somewhere down the road! So be wise, get your tax facts right! Here is a quick sample checklist for you!
At the end of it, this whole thing about keeping children out of money matters was probably a wrong idea. Children have to be introduced to money and how it works. Children should be allowed to take money decisions, make mistakes and learn from them when we can still hold their hands.
According to the recent reports, RBI has cleared the fact that NRIs are not eligible for subsidies on interest for home loans upto Rs.10 Lakhs. Usually, banks provide to borrowers a subsidy of 1% for home loans upto Rs.10 lakhs. But this decision is not going to benefit NRIs and staff working in banks. This… Read More »
With the hike in RBIs lending rates to bank of 25% i.e.0.25% in key rates, it is expected to see the hike in the rates at which loans are lent to corporates and individuals. Since the cost of acquiring funds by the banks go up, this will be passed on to borrowers who will have… Read More »
For most middle and upper-middle class families, a house is the most expensive asset owned by them. The asset also has emotional value and therefore families should perform meticulous research before buying the same. The following is a set of must-dos before buying a house.
High on risk and high on return are Equity funds. Also known as Growth Schemes, the aim of these schemes is to provide capital appreciation over medium to long term. These schemes normally invest a major part of their fund in equities and are willing to bear short-term decline in value for possible future appreciation.
The triple tragedy of the earthquake, tsunami and nuclear disaster in Japan has not only shaken the world’s third largest economy, but also brought tremors to the global economy. As per, economist Robert Shiller, the Japanese quake and the tsunami could reach a global scale and this can be seen from the fact that the… Read More »
Liquid funds are a very popular choice if the investment is for a small duration. These funds invest in very short-term securities such as commercial papers, short-term treasury papers and bank deposits. They are not affected by interest rates fluctuations. So, if Mr A holds on till the maturity of the product, then he would… Read More »
The Income Tax Act treats HRA and home loan deductions under separate sections independently. The two are not interconnected to each other. HRA is dealt with in section 10(13A) Rule 2A while home loans are entitled for tax benefits under section 80C (tax benefit on principal repayment) and Section 24 (tax benefit on interest payment)… Read More »
As a senior citizen, while safety of capital is of paramount importance, don’t forget to take into account the tax factor. Taxes can actually erode the value of your returns. Also another black hole to watch out for is inflation. Many seniors opt for the security of assured returns and end up finding that the… Read More »