Select your interest and accelerate your financial growth.
How is CIBIL score calculated?
Owning a house in Mumbai is a dream come true for many. Seema is on her way to realize her dream – she is planning to buy a house. She has decided to avail of a home loan to help her make her dream into a reality. So she decided to browse the internet to check the essential documents she would need to furnish for processing her loan application. One of the things that caught her attention was a credit score. She discovered that the chances of her loan application being successful depended on her TransUnion CIBIL Score, popularly called...more
ELSS versus FDs: What’s the better investment option for you
Megha has always listened to her father. After her BCom and MBA, she got a job in a multinational corporation. When she got her first salary after deductions credited to her bank account, her father sat her down and explained she must save right. In FDs and RDs, just like he did. If you want, you can even inquire about how to open a PPF account with your bank. But Megha had other ideas. She had heard her colleagues speak about Mutual Funds and ELSS and Stocks. “No way!” Said her father. “Anything related to the stock market is risky!...more
How does income tax work for senior and super senior citizens?
Mr. Dubash, was born on 28th March 1955, making him a Senior Citizen of almost 64 years old, his mother has just turned the ripe old age of 84. Since his mother was born on 28th Feb 1935, according to Indian income tax laws she qualifies as a Super Senior Citizen. Initially, Mr. Dubash was under the impression, that the income tax computation for both him and his mother would be the same. Let’s find out if Mr.Dubash’s assumption is correct. Source of Income: For senior and super senior citizens, income sources include: • Pension • Rental Income • Interest...more
What is Investment Banking and Know its Advantages
Investment banking: demystifying the jargon in the corridors of corporate finance. Arti Samant, whose Kitchen Accessories Company is becoming a name to reckon with in the startup circles, feels overwhelmed to figure out how to keep control on her finances. She started selling aprons and chef hats and gloves as a hobby but it soon became famous after celebrities who shopped there featured her on their social media. Orders started pouring in and the income, it grew exponentially. She even hired senior management teams to streamline business flow and finances. Arti is ambitious. She didn’t want to stop there. “How...more
Everything you need to know about portfolio management
When Aditya started working he was very excited about his salary and would dream of how to spend it, what he would buy, who he would treat, where he would travel. He was however a responsible son and also gave his parents money for monthly expenses. Saving however, was the farthest from his mind. Whatever deductions his company made towards his tax liabilities and the mandatory saving schemes such as PF, PPF, insurance policies, Aditya was ok with it. Once his salary package grew, he even made some small investments in SIPs. Whenever he got a bonus, he also invested...more
What are depository participants? Here’s all you need to know
Sheena was pouring over her father’s investment paperwork and it wasn’t easy. Her father is set in his ways of doing things and a firm believer in tradition. “These papers are in a mess! How do I make him understand?” She kept thinking this over-and-over while she kept trying to make sense of it all. Finally, she decided, and went to her father with a proposition. “Dad, I think you really need to organise your investments.” Her father looked at her the same way all Dads look at their daughters, “why on earth would I want to ‘organise’ my investments?...more
How to save income tax
Beware the ides of March,” the soothsayer warned Julius Caesar before his gory assassination. This was what Viral Patel was thinking about when the month approached. Well, nothing so gory could have happened to him, but it was a time to be wary nevertheless. Because it was a time when he had to ponder about how to save tax and make those investments before the month was out. The tax authorities in their infinite wisdom had told us how to save income tax in India, and Viral had better grasp at that straw before was too late. Under section 80C...more
How to make sure you don’t face tax cuts in your salary?
Rahul Mehta is works as a senior associate with an IT firm. He earns an annual salary of ₹800,000 and often finds himself in a tough spot come tax-filing season. When the tax season finally comes around, he is confused about the right tax-saving investment instruments and end up making investments that don’t add any real value. But if Rahul planned his taxes in advance, he would have reaped enormous benefits. Unlike Rahul, his friend Anand, went about planning taxes in such a way that he didn’t face any tax cuts from his salary. Here’s what he does. Anand claims...more
Tax saving advantages while investing in an ELSS
Rhea has just graduated from college and started working in a consulting firm. She believes in being financially disciplined and wants to start saving early on. As she was going through various options to invest, she came across Equity Linked Savings Scheme (ELSS) and decided to invest in it as it was one of the best tax saving option. Let us find out what are the distinct features of ELSS which made Rhea choose it. One of the most popular investment options to help efficient tax planning is a tax saving mutual fund, otherwise known as ELSS. Majority of the...more
Want a stable investment? Know why PPF is a good option
32-year old Sandhya was spending a long-overdue weekend break, after a hectic 2-weeks at office. She was leisurely checking her WhatsApp and Facebook messages, when suddenly a notification alert from her bank, grabbed her attention. It read something like: “Enjoy life after retirement with PPF. Visit the app to open an account today!” For a second Sandhya thought of ignoring it, but it struck her, retirement age is slowly creeping up. She, just like youngsters her age, preferred new investment avenues like mutual funds. In fact, she already had a few in her account. Sandhya thought “Maybe it is a...more
