Tag Archives: income
Savings and Investments; Two Sides of a Coin
Masters of illusions can make you see one thing as another until you figure out the trick. Savings and investments could look like the same thing, but that’s the illusion. Here’s the example of a couple who didn’t know the difference. Raman is a Government employee, drawing a modest salary. He leads a financially disciplined… Read More »
When is the best time to take a life insurance policy?
Most youngsters ignore life insurance mainly because of they feel, it’s not required for them. They take life insurance simply for the sake of tax deductions, and often feel neglect its benefits thinking it’s not for them. It’s quite natural for them to feel so, especially if they are away from familial responsibilities. But remember,… Read More »
Understand your credit profile!
When you apply for a loan, banks judge your ability to repay the loan on numerous counts including your age, income, job stability and your credit report, which is a reflection of your true credit worth. You need to understand why this is the case so that you prepare yourself to submit a good application… Read More »
Credit – Benefits vs. Cost ?!
Polonius, a character in Shakespeare’s play “Hamlet” advises his son, “Neither a lender nor a borrower be”. With due respect to Polonius and his genius, credit has become a part and parcel of our life. While most of us cannot be lenders, we are bound to be borrowers because of the system we live with.
5 points to consider before buying a home!
With SBI doing away with teaser loan and RBI increasing policy rates, home loan has become once again more expensive for Indian borrowers. The home loan rates since then have been raised to at least 9.5% offered by SBI and few NBFCs such as Indiabulls finance. Other banks and NBFCs may charge even higher. We… Read More »
Budgeting your EMI in your income
A long term loan like a home loan is a debt that is part of your budget every month. If you invest too much into it, there might not be adequate funds to manage a huge list of other expenses that will tend to accumulate with time. For eg. You need to make allowances for… Read More »
Budget 2010 – Forget inflation, increase income!
The key element of the budget that creates an income of almost Rs.10,000 crores for the Government and increases inflation in a big way is the introduction of Customs duty on crude and introduction of excise duty of Re.1/liter on petrol. This announcement in fact lead to heated objections in the Parliament and the budget… Read More »
“Income” according to tax laws!
A ready reckoner on how the taxman computes your income. This article tries to give an insight into what constitutes income and what does not according to the IT department.