The More You Learn, The More You Earn
In the past few years, the Government of India has launched several pension schemes targeting the Indian population employed in unorganized sectors such as small traders, masons, painters, carpenters, plumbers, etc. and senior citizens. The main motto behind the Government Pension Scheme is to financially safeguard the post-retirement life of the people who are not covered under the EPF Continue Reading
NEFT, RTGS and IMPS are three ways to transfer money from one account to another. Each of the payment modes has some limitations in terms of timings, value or charges. Let’s understand the meaning of all three payment modes and see the differences between NEFT, RTGS and IMPS. What is NEFT? NEFT stands for National Electronic Funds Transfer where one-to-one money gets transferred. There is Continue Reading
Let’s start the discussion on investment decision in LIC policy is good or bad by taking an example of Jeevan Anand (815), the most famous policy of LIC and compare the return of the Policy which is insurance and investment mixed policy with LIC’s eTerm insurance plus PPF. You will get tax benefits under section 80C for both the options. The details pertaining to Jeevan Anand (815) are as Continue Reading
LIC is going to launch its Online Term Insurance Plan “LIC Tech-Term (No. 854)” on 12th July 2019. This new plan is a non-linked and non-participating term insurance plan. LIC already have few term insurance plans in its portfolio namely LIC e-Term – Pure Online term plan, LIC Amulya Jeevan – II, LIC New Jeevan Mangal, LIC Anmol Jeevan – II and LIC Bhagya Lakshmi. The new term plans comes Continue Reading
Interim Budget 2019 which came in February 2019 had given lots of tax sops thus there was no such expectation related to relaxation of income tax slab, tax rates or any more deduction from Nirmala Sitharaman maiden Budget.Below are the Income Tax Slab, Income Tax Rates and Tax-Credit applicable for Assessment Year 2020-21 i.e. Financial Year 2019-20.Income Tax Slab for AY 2020-21 Continue Reading
Section 80EEA Budget 2019 proposes the insertion of section 80EEA to increase the benefit of Tax Deduction on the interest paid towards home loan up to ₹ 45 lakhs for affordable housing. The additional tax deduction of ₹1.50 lakhs is for the home loan taken up to 31st March 2020. The cumulative benefit would be ₹ 7 lakhs for 15 years loan.Affordable Housing means a dwelling unit with Continue Reading
Buying Gold for investment purpose is not considered a good strategy because neither does the Gold gives handsome returns nor the dividend as equity investment gives. Warren Buffet has termed Investment in Gold is “Stupidity”. However, each time when the gold prices surges and market plunges, there is a talk about “hedging portfolio through Gold”.Most of the financial planner suggests Continue Reading