There are many pension investment schemes in India that provide either a regular pension or attractive returns on your investment, post retirement. National Pension System - NPS is a government-backed retirement savings plan for any Indian citizen aged 18-60. There was time when banks discouraged people from enrolling in NPS as they received … [Read more...]
How to check EPF balance online, SMS enquiry, missed call, UAN mobile App
Employee Provident Fund(EPF) is a great scheme by Indian government to enforce discipline of investing. As a salaried employee, you are undoubtedly familiar with this low-risk retirement scheme. After all, a part of your monthly earnings (12% of your salary, DA, and regular allowances) is locked away before you spend it. Don't you want to know … [Read more...]
How to claim both HRA, home loans tax deductions with section 24 and 80C
The income tax year end is nearing. All individuals are busy planning how to minimize their taxes. One important component used by many salaried people is HRA and home loan deductions under section 80C,section 24. I have started getting many emails in this regard and hence thought will answer through a post than reply individually though I … [Read more...]
How Interest Rates Fluctuation Works and Affects an Economy
I just got a basic question from one of our readers by em-mail. Since this question has repeated a few times, here is a quick post on 'How Interest Rates Work and affect economy'. Just modified the question a bit. Usually the question is 'how does interest rates affect individuals, how interest rates affect stock returns, Should we monitor … [Read more...]
How to use Section 80GG of income tax to deduct rent paid – example & calculation
Most of us are confused when interpreting income tax laws. I often re-read some tax sections and interpret in a different way sometimes. One such section is section 80gg of Income Tax Act to deduct rent paid. I am writing this post in response to an email received from Mr. Sivaji from Pune and I quote. "Hi My friend tells me I … [Read more...]
Axis Long Term Equity Fund review -SIP, Returns, Invest Online,Risks, Application Form
Nobody likes sharing their hard earned money with the tax man. The Government legitimately allows residents to save tax by legitimate means and encourage savings. For tax saving purpose in India, one of the first mutual fund class to consider is the ELSS tax saving funds. Today, we'll review Axis Long Term Equity Fund which is among best ELSS … [Read more...]
DTAA – How Can NRIs benefit from the Double Taxation Avoidance Agreement?
US or for that matter any country never lets an opportunity slip to collect tax from citizens/residents. Have you ever wondered if you stay in US and earn income in India or elsewhere how you'll be taxed. You need to pay tax in both countries? Don't worry. If that is the case I might not well invest/save :) You have the DTAA - Double Taxation … [Read more...]
Top 5 best NRI Investment Options for Long & Short term in India
NRI deposits climbed to $6.97 billion in April-July 2015, from $4.71 billion a year ago, according to the RBI Bulletin for September 2015. Outstanding NRI deposits exceeded $120 billion. More and more Indians living abroad are turning homeward to park their surplus money. An NRI is spoilt for choices when it comes to NRI investment options in … [Read more...]
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