Budget 2020 – Important Changes that you should know
Budget 2020, most people looking forward to this event. Prior to this event, most people are dreaming just like every year that Government will increase the 80c limit. In addition, People are also expecting the Government to increase income tax slabs, expecting indexation benefit for equity investment. But the above changes not there in this Budget. Finally, The Government in its budget of 2020 has introduced a new tax regime. However, the old tax regime will remain and taxpayers have the option to select any one tax regime. What is the new income tax regime in the Budget 2020?… A …
Cash Flow Statement – What is its importance in your Financial Planning?
Cash Flow Statement is an important part of the “Financial Planning“, in your Financial Goals journey. All of us will be having some “Financial Goals” in our life. In addition, a few goals are house buying, retirement planning or financial freedom planning, child higher education and child marriage, etc. However, You may be having a few extra financial goals apart from the above goals. Before understanding the Cash Flow Statement, I advise you to understand What are the different ways to achieve a Financial Goal. Click this link to read about How to achieve a Financial Goal.’ Now, after reading …
DTAA-What are its benefits to Non Resident Indians?
DTAA full form is the Double Taxation Avoidance Agreement. Which is useful to Non-Resident Indians. The taxation for you will be different if you move from India to some other country. Most of the time, an NRI will have income in Foreign countries and in India as well. But most countries will charge on the global income. As a result of this, you have to pay tax in both countries. To avoid a double tax burden, DTAA will help you in lowering your tax burden. NRI’s will be having different types of income in India like rental, Interest on Bank …
Pay Zero Tax – On your white money-Here is the way…
Pay Zero Tax on your white money is the headline for this article. You may be surprised by seeing this headline and you may be thinking that I am joking. But, It is true. You can pay zero tax on your income completely. First, Let’s Understand the different categories of people who are earning money. There is a four-category type of people who are earning money. Salaried Employees Business People Self Employed Professionals Read this article that How Cost Inflation Index will help you in Paying less Tax? Also, read the article that What are the benefits of filing Income …
Term Life Insurance Premium – Why it is not good to pay till 85 years?
Term Life Insurance Premium nowadays most people are thinking to pay till 85 years of age. I really appreciate the persons who are taking this insurance instead of traditional Endowment or Money back policies. Read this article, Why you should not buy the Unit Linked Insurance Plan for tax-free maturity purpose?… Most Investment Advisers like me advise our clients to take the term insurance till age 55 or 60. In addition, We sometimes recommend once you accumulate your targetted corpus stop paying term life insurance. So, sometimes no need for premiums till 55 years also. Now, Let’s understand with calculations …
Health Insurance Claim- Do You know can’t be rejected after 8 years?
Health Insurance Claim can not be rejected after 8 years. Yes, What you read above is right. As per IRDAI guidelines, Health Insurance Companies can not reject claims after years. If it becomes a law, then it will be a big advantage for many of us. Read the article about Arogya Sanjeevani Policy. Click this link to read. Also, read this article about health insurance. Many people are not buying insurance policy health or life, thinking that there is no guarantee that the insurance will pay the claim, when it is needed. In addition, In spite of the client has …
Net Asset Value (NAV)- What is the Definition and How to Calculate in MF?
Net Asset Value word is a very common word in MF (Mutual Fund) Account Statement. If you are a Mutual Fund Investor, then You may have seen or heard about it more frequently. In addition, NAV is the short form of Net Asset Value in the Mutual Fund Industry. Do read these articles about What is a Mutual Fund. Click this link to read. and also read the article What expense ratio in Mutual funds. Click this link to read. And also read the article about types of debt mutual funds. Click this link to read. What is the Definition …
Expense Ratio – What it is in Mutual Funds?
Expense ratio in Mutual Funds can decrease your returns. It is a common word in the Mutual Fund monthly Fact sheet when you are reading about funds information. In addition, You may have noticed that this ratio is not the same for all the funds. This ratio may be between 0.35% to 2.5% depending on the category and type of funds. In addition, If the fund category same, this ratio may be different from one mutual fund to another. This ratio exists in NPS, ULips also. But in this article, I will explain about mutual fund expense ratio for simplicity …
Arogya Sanjeevani Policy – What are its Features and Benefits?
Arogya Sanjeevani Standard Health Insurance Policy is announced by IRDAI. You may be getting a headache in understanding the features and benefits of the health insurance products available in the market. then, This Standard health insurance policy will be a solution for you. In addition, this product is labeled as “Arogya Sanjeevani Policy <Name of the Insurer>. For example, If Star Health is offering this Policy, then it called an Arogya Sanjeevani Policy Star Health. This product is not company-specific. In addition, this policy features and benefits are universal and standardized. As a result of this, you can easily understand …
CII – What it is? and How to calculate tax with it?
CII full form is the Cost Inflation Index. We can calculate the capital gain tax on real estate, gold, and debt mutual fund with CII. can you guess these numbers 100,105,109? Here, I am not asking you to do any calculations. The above numbers belong to the CII table. In addition, the above numbers belong to the Cost Inflation Index for the financial year 2001-2002, 2002-2003, and 2003-2004 respectively. Moreover, When you sell, these numbers will help you in not paying higher taxes on your real estate, gold, and debt mutual funds, Now, Let’s learn that How we can save …
