A letter from an Indian housewife to the Finance Manager ahead of the budget. Dear FM, I would like to introduce myself as the Finance Manager of my household. As I read the newspapers every day, I see so many expectations from so many segments. You must surely be overwhelmed.
The government has been trying to make the tax laws simpler every year; however, there are numerous amendments required in the tax laws. The union budget for the FY 2013-14 will be presented before the Parliament on 28th February 2013 and the finance minister has promised many reforms expected to combat inflation along with stable… Read More »
Friends, relatives and colleagues often sign as guarantors for personal loans for applicants in order to help out in getting a loan on time. However many people do not completely realize the extent of responsibility that accompanies such an act. In fact the guarantor then becomes equally responsible for the repayment of the loan as… Read More »
Budget 2013 is less than a fortnight away and a nation awaits with bated breath wondering what is to come. Although political pundits will have us believe that this budget could see a positive windfall keeping in mind that the general elections are not far away, it is beyond anyone’s guess as to what is… Read More »
In most cases personal loans are opted for by individuals in order to meet emergency case requirements and also to make up some deficiency in other financial plans. People often apply for personal loans to multiple banks simultaneously for different reasons. There are a few pros and cons of such applications which the applicant needs to… Read More »
It is February again and like every year the lists come out with everyone’s expectations from the Finance Minister. It’s a different matter altogether that the expectations have not always been satisfied completely. But we still have hope and so this piece by a college student articulating his expectations from Budget 2013.
The Reserve Bank of India releasing its third quarter monetary policy has today announced a reduction in the repo rate and cash reserve ratio by 25 basis points. The new effective repo rate for the third quarter is now fixed at 7.25% while CRR rate has revised to 4%. This move is likely to… Read More »
Senior citizens. A lovely word coined by the government to describe elderly people of the country. Whether they get the respect needed to be given to a “Senior” is a matter of perpetual debate.
If you choose to use the capital gains from selling your house to buy a residential property, you will not be taxed and there is no tax liability from such a sale as stated under Section 54F of the Income Tax Act. You can also be exempted from tax if the long term capital gains… Read More »
Enough cannot be said about the importance of planning your savings and understanding tax components that you can utilise to maximize your income. One of the best ways to take the time to research and plan well in advance, is to start on this exercise right in the beginning of the financial year and not… Read More »