Income Tax Notices – Actions to be Taken
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Do You Really Need Insurance? This Will Help You Decide!
As soon as we get a good job, a spouse, maybe children, a house and we are settled in life. The first recommendation from the corporate people, elders and the agents we get is to buy insurance. But, do you really need insurance. What if there are certain reasons because of which it’s a waste of money for you to buy insurance. What if you personally don’t want to but you should in order to take...
Why To Invest For Long Term?
Sarita a 29 year old, holding her newborn baby girl in her arms, looking at that sweet innocent face, she decides she wants to give her baby girl the best, put her in one of the best schools, send her abroad for her higher education, give her a grand wedding, etc. These are good dreams, no? But is it enough to only dream? Sarita has big dreams for her child, but those dreams have costs. It is...
Best Term Insurance Plan in 2016
A well-chosen insurance policy is indispensable for financial health as well as mental peace. A good policy serves three different purposes. It protects the policy holders and their families from the effects of unforeseen circumstances. It serves as a medium for long-term investment. It also serves as an instrument for saving income tax. What is Term Insurance? In recent years, term...
The story behind Taxation on EPF
The budget, 2016 has brought a ray of hope for a better India tomorrow. This years budget has focused on major factors like agriculture, rural development, infrastructure and social security. Agriculture is the backbone of our country and its needs have to be looked after. One of the many good initiatives taken by the Govt. towards rural development is 100% village electrification. Roads and...
Cost of delay in Retirement Planning
The best time to plant a tree was 20 years ago. The second best time is now.” – Chinese Proverb Right time to start retirement planning is NOW! Ideally the day when you start earning we should start saving for retirement. But it rarely happens. Many time we get retirement planning advice but very few people implement the advice immediately. Delays in implementing the retirement plan is...
Hindu Undivided Family
The concept of Hindu Undivided Family, commonly known as HUF, was derived from the ancient hindu laws. An HUF can be formed with the oldest male member and his wife and children and their spouses. HUF is treated as a separate entity all together, and enjoys the same tax benefits as any other individual taxpayer. As the name states, ‘Hindu Undivided Family’, one may think, this is...