80 C : Max limit : 150000/- MF-ELSS, Pension Plans, Life Insurance, PF, PPF etc 80CCD : 50000/- NPS 80CCG : 25000/- or 50% of your investment which ever is less 80D : 25000/- Mediclaim Policy for self spouse, children 80D : 30000/- for dependent parents u/s-80D. Medical reimbursement :- 15000/- US 17(2) 80DDB : Medical expense occurred…
Don’t leave home without these. No matter who you are, how much you earn, or how you invest, a few truths apply to you and your money. Spending money to show people how much money you have is the surest way to have less money. Singer Rihanna earns tens of millions of dollars, but found herself…
On July 9, 2015, U.S. Ambassador to India Richard Verma and Indian Revenue Secretary Shaktikanta Das signed an agreement to implement the Foreign Account Tax Compliance Act (FATCA). The agreement is designed to increase transparency between the two nations on tax matters. The agreement takes effect September 30 and underscores growing international cooperation to end…
Not many of you may be aware that now you can only partially withdraw the accumulated provident fund corpus before retirement. According to a new rule notified by Ministry of Labour and Employment on February 10, if a person after being unemployed for two months or more, wishes to withdraw money from the EPF account,…
I regularly receive requests to help share with you what I do to save money. It’s natural for me to save because I’ve actually worked too hard to reach where I am today. But I’ve realized that it’s okay to spend money in order to create memories (for example, all the traveling we do). I…
We all have a plan ‘A’ for life, and maybe even a plan ‘B’. But knowing what your “Plan Z”, or last resort option, can help motivate you to go after what you really want from life. Visualizing the negatives gives you a stronger appreciation for what you already have, such as loved ones, good…
Significant Future Income Increases is Unlikely. Get the most for your money. Accumulate few small savings over an extended period of time. Implementing this approach does not require you to sacrifice a particular activity or your quality of life, but it can maximize the cost-benefit of each. More importantly, it gives you greater piece…
Retirement planning is one of the most important goals in the life of an individual. Typically, individuals prepare during their 30 years of working age acquiring knowledge, skill and sufficient income in order to live a good life post-retirement. The post-retirement life is expected to be as long, with increase in life expectancy and hence…
Definition : The shares trading below their intrinsic value are considered value stocks and can be considered good investments. Investment Guru Benjamin Graham and Warren Buffett pioneered this concept. Value stocks may not be confused with penny stocks which trade at below par prices. Explanation : A value investor seeks under valued stocks ie stocks…
Reliance Mutual Fund recently got the government nod to launch a pension plan. This is the third such plan from a fund house. The first two — from UTI MF and Franklin Templeton MF — were launched 15 years ago. The fund house’s plan is the first to offer an aggressive equity option to investors.…
As on December 31, 2014 Reliance Tax Saver Fund stood at number one position under the equity tax planning category. Its Net Assets stood at Rs. 3618.07 crore. For a time period of one year the fund has given a substantial 86.49%, while for a time period of three years the fund has given a…
Definition : Securities Transaction Tax (STT) refers to the tax levied on transaction (purchase or sale) of securities listed on the Indian stock exchanges. Such securities include equity shares, derivatives and equity-oriented mutual fund units. The rate is specified by the Central Government from time to time. STT is not applicable for any off-market transactions.…
A true investing pro knows you’re in charge of your own money and treats you like a partner, not a transaction. Choose an advisor who’s smarter than you but doesn’t act like it. An advisor should explain every detail in plain English / language until you get it – no matter how long it takes…
It’s been a long time since I’ve been debt free, but I can still remember exactly what it felt like. I can picture all the uncomfortable details of the way I used to struggle; the empty bank account, the awkward moments, the feelings of despair…. And honestly, one particularly awkward conversations and phone call with…
