To understand how a home loan works one needs to understand what a rest means. A rest is the interval at which the remainder of the loan amount is recalculated as you repay the loan. This is relevant only in the case of a reducing balance loan as opposed to a flat rate interest loan.… Read More »
Its financial year end and the Budget bandwagon is rolling full steam. Every newspaper and magazine keeps publishing reports and reports and reports and reports! Some great, some not so great, but, one thing is common; most of the terminology is not common for the common man. So let’s try to understand some of the… Read More »
Leave Travel Allowance (LTA) is granted by the employers to the employees as part of the remuneration to provide for travel expenses incurred during the year. Leave Travel Allowance also covers such expenses of the spouse, children as well as dependent parents and siblings. However, there is a restriction. The allowance is restricted to two… Read More »
Choosing between the fixed interest and floating interest home loans is one of the biggest challenges facing the prospective home buyer. There are advantages and disadvantages in both variants which needs careful scrutiny as a home loan is along term commitment and the actual money paid back over the entire tenure could vary drastically. Such… Read More »
The Union Finance Minister Mr. Pranab Mukherjee presented the Union Budget 2012-13 and has given a marginal benefit on the much awaited income tax slabs for common people. The biggest beneficiaries would be people having income between 800,001 to 999,999 per annum. They move from the 30% slab to the 20% slab! Personal Income Tax… Read More »
To begin with why do you need flexible repayment options? The biggest advantage is that choosing the right flexible repayment option would reduce your EMI load! Moreover, it could help you avoid getting that adverse ‘defaulter’ tag. Remember, if you had borrowed from a bank even a single default could deface your credit report and… Read More »
Liquid funds invest in money market instruments. Money market is a market for short term borrowing and lending. This market deals with debt instruments such as certificate of deposits, commercial paper and treasury bills.
Budget in India always tries to encourage the women by giving tax exemptions and other benefits. The tax exemption limits have generally been higher than that for men or senior citizens. The allocations for women welfare and child healthcare has been comparable with other developing countries but there has always been room for more innovative… Read More »
What Pranab has in store for Small and Medium Enterprises – The Young ones of Indian Industry SMEs (Small and Medium Enterprises) and the Entrepreneurs had many reasons to smile after Mr. FM finished his budget speech. According to experts, these sectors are highly vulnerable to the unexpected changes in the market conditions and need… Read More »
I Must Be Cruel Only To Be Kind – Pranab The finance minister quoted Shakespeare’s Hamlet before starting the second part of his Budget speech. A long monotonous speech had a humorous pause albeit a very small one. To quote him “The life of a Finance Minister is not easy. Various players, including policy makers,… Read More »