To get the best out of the tax savings, it is good to let the partner with the higher pay make a higher contribution towards the home loan resulting in a better tax benefit collectively. In any case as both Niranjan and Chitra are earning, other expenses can be managed with the income of the… Read More »
While mediclaim or health insurance policy is an indemnity policy i.e., it reimburses your actual medical expenses, critical illness policy is a defined benefit plan i.e., it gives you a lump sum on diagnosis of any of the pre-specified critical illnesses irrespective of your medical expenses.
Once you develop an investment plan you have got to stick to it. Asset classes, especially equities can move wildly based on political, global and other news. Having discipline while investing will benefit. It also means staying away from a potential investment when the risk / reward are unfavorable. It is the deciding factor between… Read More »
Typically interest rate on the education loan starts accumulating as soon as the course is over. Since interest during the moratorium period will be paid by the government, EMI for the borrower is set to fall. This will reduce pressure on his/her cash flows. This is a proposal which has been submitted to the Planning… Read More »
EPF and PPF are cases of classic asset class mismatch – they are savings tools which are implemented for the long term. So technically they are not ideal investment avenues. However as a salaried person, one does not have an option not to invest in EPF. One could make withdrawals for suitable alternative investments if… Read More »
Driving the most luxurious car has been made possible by the stiff competition in the automobile industry in India, with overseas players gathering the same momentum as the domestic participants. Every other day, we have been hearing about some new launches, some low cost cars – all customized in a manner such that the common… Read More »
Blue chip stocks are stocks of companies which are well-established companies and have stable earnings and no extensive liabilities. They can be income or growth stocks. They have a track record of paying regular dividends. They are relative safe and stability.
Prime lending Rate is the benchmark interest rate on the basis of which financial institutions decide the interest rates on the various loan products. For example, a bank might say a loan interest rate will always be 0.5% above the PLR. So this means if the PLR increases or decreases by a certain amount, the… Read More »
It is always important for you to understand your goals as well as your risk appetite. Don’t be taken in by the high returns offered by equities or gold if your goal is short term (within 2-3 years of investment), or if you cannot withstand the volatility of these assets. Similarly, just because income funds… Read More »
In a situation where you think that you forgot or did not have the proper documents to show the investments made, a Revised Return of Income needs to be submitted. Also, the actual claim for the tax refund needs to be done using Form 30. The Income tax department has recently started an initiative where… Read More »