PMVVY ( 2020-202- Features and Benefits 2020-2023
PMVVY full form is Pradhan Mantri Vaya Vandana Yojana. Now, this scheme has come up with new features and benefits for 2020-2023. In addition, it has 5 changes when compared earlier PMVVY. Pradhan Mantri Vaya Vandana Yojana Features and Benefits are… You should have a minimum of 60 years’ age to buy this scheme. But there no upper age limit is set in this scheme. So, anyone who is more than 60 years of age can buy this scheme. In addition, the monthly pension is 7.4% for Financial Year 2020-2021. The policy term or the pension period is 10 …
Power of Compounding – Why it is not there in (Mutual Funds), Stock market?
The power of compounding exists in Mutual funds and in Stock Market is most people believe. But actually, this compounding interest benefit is not there in mutual funds. In addition, Many investors believing this wrong assumption and investing blindly in mutual funds, stock market. In this article, I will showcase why there is no Power of Compound interest in the stock market and equity mutual funds. What is Compounding Interest.?… Compounding interest means that you are getting interest on interest. Let’s say you have invested in Bank Fd Rs.1,00,000, the bank promised you to pay 6% compound interest every …
Pradhan Mantri Awas Yojana (PMAY) 2020-2021-Who is eligible?
Pradhan Mantri Awas Yojana has been extended till 31st, March 2021 for the CLSS category. While at the same time for EWS/LIG category this has been extended till 31st, March 2022. Now, Let’s see who is eligible under PMAY Scheme?… Pradhan Mantri Awas Yojana ( PMAY) Schemes are… CLSS MIG – I CLSS MIG – II EWS/LIG ( EWS – economically weaker section, LIG- Low-income group). Eligibility for PMAY for 2020… There are three categories in this scheme. Let’s know in detail about each category. EWS/LIG Scheme Category… You and your family members should not have any pucca house in …
6 Steps – In Financial Planning Explained
6 Steps are there in the Financial Planning process. Sebi Registered Investment Advisers will tfollow this entire process for their clients. Individual Clients also can follow this process without the help of Investment Advisor guidance. 6 steps in the Financial Planning process are… Financial Planning Board has designed these steps for Certified Financial Planners. Every Planner (Investment Adviser) should learn and follow these steps for serving his clients in a better way. 1. Establishing Client Planner Relationship 2. Gathering Data 3. Analyzing the Data 4. Developing the Plan 5. Implementing the Plan 6. Monitor the Plan. Step 1) Client Planner …
Virtue – Why you should do for your self first?
Virtue, Many of us may have thought about it at least once in our life. You may have heard that Virtue should be done only after you have enough money for your future. Case Study of a Family Who is giving Virtue… Recently, I have given “Financial Planning” to a Doctor’s Family. In addition, the doctor is a Housewife, aged 30 years, earning Rs.80,000 per month, her husband is not doing any work and staying at home and looking after the two children. They are spending Rs.50,000 as monthly household expenses, Rs.15,000 as children schooling expenses per month. How much …
Sovereign Gold Bond Scheme FY 2020-2021 – A complete Guide
Sovereign Gold Bond Scheme is announced by the Government of India for FY 2020-2021. In addition, these bonds will be issued in 6 tranches from April 2020 to September 2020. Sovereign Gold Bond Scheme FY 2020-2021 – Complete Calander Details… I told you already that these bonds will be issued in 6 tranches. Who will Sell These Bonds?… All Scheduled Commercial Banks (except Small Finance Banks, Payment Banks), Stock exchanges Bombay Stock Exchange, National Stock Exchange, Designated Post Offices, and Stock Holding Corporation of India can sell these Sovereign Gold Bonds. What are the features of this Sovereign Gold …
Mutual Fund Taxation – AY Year 2021-2022 ( FY 2020-2021)
Mutual Fund Taxation some changes took place in budget 2020. Here in this article, I will explain taxation for FY 2020-2021, ay 2021-2022. The taxation of mutual funds will depend on 3 factors. 3 Factors that will decide Mutual Fund TAxation are… 1) Resident Status of You i.e Resident or Non-Resident ( NRI)… The tax that you have to pay will be different if you are resident Indian, the tax treatment will be different and if you are an NRI, your tax will be different from Resident Indian. 2) The tax also depends on the types of mutual funds …
Force Majeure Clause-What it is in Life Insurance In India?
Force Majeure is a contract clause means that will remove the LIABILITY due to catastrophic events such as natural disasters or war in Life Insurance in India. What is Force Majeure? Now, many countries are under lockdown worldwide due to fear of Pandemic Virus COVID-19 ( Corona Virus). Though the death rate due to this virus is low, this is spreading easily and fast from human to human. In addition, People do not when this lockdown will be over and when the vaccine for this virus will come. Mean While there is a high chance that people across the …
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 …
