Apart from saving and providing your family during your job tenure, it is equally important to simultaneously plan for your retirement. Your main goal of retirement planning should be to receive income from various avenues be it pensions, PPFs etc. If planned wisely, you can get income in the form of rent, profits, dividend or… Read More »
If you are a self-employed of in a profession which does not enable you to invest into an Employee Provident Fund, then you must start and invest into Public Provident Funds. The benefits are many but tax benefits and guaranteed returns at 8% are at the top of the list. Not only will your retirement… Read More »
Unlike equity funds, where you get to choose between a dividend and a growth plan enabling you to not only get tax free dividends but also the entire amount to fund your priorities, your returns on debt funds may vary depending on your choice. Debt funds carry tax Your debt funds are bound to imply… Read More »
Earlier the KYC Know your customer) norms had to be complied by those investors who invest more than Rs 50,000 in Mutual Funds. But, w.e.f January 1, 2011, you will need to comply with the know-your-customer (KYC) norms before you invest in a mutual fund , irrespective of the amount. What is KYC? They are… Read More »
Most people assume that repaying or prepaying the home loan on their property is the most important aspect when it comes to loan repayment. But due to the extended tenure of the loan, say, 10-15 years, there is a possibility to forget the original property documents that you might have handed over to the bank… Read More »
You should inculcate the habit of visiting a financial planner as they can guide and advise you about your financial health. It will help to create a sense of disciplined savings pattern and make you watchful about your investments. Most people have the wrong notion that one must visit a financial planner only if you… Read More »
Is there any way you can cover your whole family under a single policy? Yes, opt for floater health insurance cover. It is a health insurance cover that provides cover to your entire family in case of any eventuality when the policy is in force. This policy covers medical expenses that you have to bear… Read More »
Repayment of the loan will begin 12 months after the completion of the course or 6 months after getting job whichever is earlier and it is to be paid in monthly installments which is typically for 60 months. If you are an NRI and want to send your child back to India for studies and… Read More »
What does it mean? It is calculated by dividing the company’s total liabilities by the total equity fund belonging to the shareholders. It reflects the proportion of equity and debt that the company has employed to finance its assets. Usually only long–term debts are considered when computing this ratio. If a company is having a… Read More »
According to the Income Tax Act, it is the interest component of any loan be it home loan, personal loan etc that has a tax deduction option and not the principle component. But for example, if you have borrowed an education loan for your family members then, as per Section 80E, an assessee can claim… Read More »