Knowledge

There are many good child plans available in the market. Many of these plans will lure you by saying “invest Rs. 5,000 per month for next 20 years and get 1.5 crores or 2 crores after 20 years. Start planning for your child now.” These plans are not wrong by their logic and calculations. But...

Endowment policy is basically a life insurance contract between the insurer and the insured whereby the policyholder pays premium and in return covers his risks. Premium for endowment policy is higher in comparison to traditional whole life policies and term insurance plans. An assured sum is paid either on a fixed date to the insured...

When we talk about Income tax on the Gifts received, few questions that comes to our mind are about the rules which can make us exempt from such tax liability. ave you ever thought about the taxes you have to pay, when someone deposits some money in your bank account? How many of us think about the taxes we have...

An unaware person is more susceptible to be lured by financial advisors/ agents false statements. The extremely sugar coated and promising statements of financial advisors are sufficient enough to induce a person to invest in inappropriate products. These products can be a life insurance policy, mutual funds, ULIPS or may be something else. Through this...

Applicable rates of Income Tax Rates for Individuals, Hindu Undivided Family (HUF), Body of Individuals (BOI) and Association of Persons (AOP) in India is as under: Assessment Year 2016-17, Relevant to Financial Year 2015-16  For Individuals below 60 years age (including Woman Assessees): Income Tax Rate Upto 250,000 Nil 250,001 to   500,000 10% of the...

In the last quarter of financial year, every one rushes to save tax and this is the time when the highest NAV guarantee plans are offered in the market to take care of your investments and tax savings. Have you ever thought that why do companies pick this slot of year. There is a human...

In last one year, Government has taken various initiatives on the front of personal finance. Naming few such initiatives like Universal Account Number (UAN), Sukanaya Samriddhi Scheme, Mudra Bank, Pradhan Mantri Jeevan Jyoti Bima, Pradhan Mantri Suraksha Bima, Atal Pension Yojna, Gold Monetisation Scheme, Tax rebate on contribution to National Pension Scheme and on… and now their is a focus on simplifying the tax...

I have actually seen people making faces while paying taxes. I still remember a businessman who approached me many years ago and said “I don’t want to pay tax, please draft my financial statements accordingly.” He also wanted all the bills to be arranged to support his windrow dressed financial statements. There is also a large...

After a big success of UAN, Pradhan Mantri Jan Dhan Yojna, Sukanya Samriddhi Scheme, Mudra scheme, PM Narendra Modi is now heading towards newer milestones by launching schemes for financial security of the people. As on May 09, 2015, they launched a Life Insurance scheme and Accidental insurance scheme. The Life Insurance Scheme namely, Pradhan Mantri Jeevan Jyoti Bima Yojana...

There are many people in India, who have to go through a tedious procedure of depositing their income tax on their own. It is for those people who consider it a big task that they really need to understand the system of e-payment of income tax. See Income Tax slabs for AY 2015-16 See Income Tax slabs for...