After having identified your sources of income, you need to select the right income tax form. Forms have been categorized on the basis of streams of income. The income tax website clearly specifies which form to pick, depending on your stream of income. For .e.g. if you are a salaried individual and have only salary… Read More »
Home-loan disbursements have picked up as interest rates are under check. RBI is also taking steps to bring in the revival in the real estate sector. RBI has already stated that the current customers should be offered an alternative between continuing with their old home loan rates or move to new rates decided by the… Read More »
The sum assured for ULIP products have been enhancedto 10x of the premium amount from the current 5x for individuals below 45 years and for those above 45 years, it has been increased to 7x. This will ensure that individuals get a fair amount of insurance coverage, the basic objective for which this product is… Read More »
If the gross receipts are less that Rs 1.5 L the assessee has to maintain his accounts which enables the Income Tax official to compute the taxable income. In the case of the gross receipts exceeding Rs 1.5L, the assessee has to maintain books of accounting like the cash book, journal, ledger, copies of bills… Read More »
If securities are sold on the exchange within a period of one year of purchase, it is short-term in nature. Short-term capital gains are taxed at 15%. Short-term capital loss can be set off against short-term capital gain & long-term capital gains.
Income tax authorities allow you to self assess your income and accordingly pay taxes. Many people tend to believe that his/her income tax return is a drop in the ocean for the income tax authorities and hence not declaring income or understating income may well be worth because it saves you a few bucks. Deliberately… Read More »
Our investments are heavily affected by inflation. Assume you have opened a bank deposit offering you 6% interest for one year. Now while closing the deposit account, if the inflation is 8%, you actually end up losing 2% (8-6). It means your investment has lost its value. In order to protect the value of your… Read More »
Making a Will is one of the most important and integral part of Personal Financial Planning. Normally, all of us avoid making it. A Will enables each one of us to distribute our property and assets in the manner we wish to distribute it. A Will may also reduce the risks of undue litigation, delays,… Read More »
SIP (Systematic Investment Plan) is one of the most effective ways of investing in equity markets. In SIP, you invest a certain amount each month into the equity mutual fund of your choice. This amount can be as low as Rs 100. This amount is either directly debited from your bank account or you have… Read More »
Having discipline is extremely important. You have to have discipline in the way one spends and controlling one’s expenditures. It is the key to reduce liabilities and debts and save more. As per a famous trading and investing legend- One must not spend time looking for the Holy Grail of investments or trading systems. It… Read More »