What Is Form 16?
Form 16 is the most important document for which any salaried individual waits for. This document is issued by the employer mostly till 31st May for previous financial year. Being a valuable document for return filing for any salaried individual, It is very easy to understand and this article will give you insights on the same. What is Form 16? Form 16 is nothing but TDS Certificate...
8 Life Events Where Financial Planning is Mandatory
Financial planning is an important task in the management of your finances. It is not just limited to the norm of planning the strategies and ways to invest your money into the various business ventures or funds or insurance schemes by various companies, but it also includes the planning to put every single penny of your income and savings into something very beneficial. A financial planner...
Financial Planning – Tips For Every Generation
Financial planning is relevant as well as vital for all the age groups. So, whether you hire a professional to do it for you or you prefer to do it yourself, we are giving you the tips for financial planning for every generation. This will either help you talk to your financial planner or will help you determine the investment strategy if you are going to do it yourselves. The ones in...
Things To Know Before Starting An SIP
SIP i.e. Systematic Investment Plan is a great way to make more money in the long term and short term period. Many people start the SIP to fulfill their future goals, like buying a big house, going on a vacation abroad, saving for retirement or buying a luxury car, etc. There are many other reasons to starting a SIP. However, before starting a SIP you should know the essential things about it...
Top 6 things to avoid while investing in ELSS funds
An open-ended scheme, whereby funds have no restrictions on the number of shares issued and capital is allocated in a diversified way leads to mitigate the loss. ELSS funds are considered to be a good option to invest as money is diversified and it is also one of the “best tax savers”. ELSS is popularly captivating it’s a share in the current market, in terms of onboarding the investors...
Things to Know Before You Submit Investment Proofs for Tax Saving
The closing of 2nd quarter of the financial year is in the vicinity and tax season for employees is about to start. Knowing the tax rules, exemptions, and a variety of ways to save tax is important to plan tax saving. In India, employers deduct tax from the salary of employees on monthly basis and deposit the same with govt every month. This requires calculating the taxable salary of each...
9 Reasons to Buy Life Insurance Now
Someone once asked me, ‘Did you get sold to insurance or did you buy insurance?’. At first I was confused, how can someone get sold to insurance? But after few minutes I understood what he meant. Almost everyone gets sold to insurance. How? Well an insurance agent comes and sells a policy to you, that you do not even require and you are so fascinated with the features of the...
Tax Saving Strategies for Senior Citizen
As per the income tax act, a person attaining age 60 or more in a financial year even for a day becomes a senior citizen. Income tax gives relief to senior citizens in the form of a higher tax exemption limit. If a senior citizen is aged 60 or above but less than age 80, his income of Rs.3 Lacs p.a. is tax-exempt. If a senior citizen is above age 80 then his income up to Rs.5 Lacs is exempt...
Creating Wealth By Doing SIP – Power Of Compounding
Kanika is a 27-year-old, HR Manager in a bank, and is living with her husband Suresh, who is 31 years old, and her newborn baby girl Alia. Kanika wants to make sure that Alia’s future is not compromised on, as she has big plans for her. So she wants to start planning for it now. She approaches her adviser and gives him the relevant details of her plan. After much analysis, he tells Kanika,...