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  • Importance of Savings & Wise Spending

    Financial management may not require a degree, but it does demand discipline and effort to reach financial goals at various phases of life. Financial planning becomes a habit after a while. Its goals include estimating capital requirements, formulating financial strategies, and maximising the use of limited financial resources. Developing a financial planning habit might be challenging. When it comes to finances, you're in a bind and don't know where to start. Here are some golden guidelines for financial planning. Early Starting- Financial planning and creating a savings habit are two of the most common mistakes people make when they begin their careers. Getting started early in life is essential. It doesn't matter how little you save; it will give you an advantage. In the long run, the force of compounding will work in your favour, and your savings may rise at an exponential rate. Start saving early and don't put it off. Spend your money wisely- It is important to keep track of your spending. It is an indication that you are overspending if you find yourself short of money before the end of the month. When it comes to conserving money, unexpected expenses are the biggest problem. Try putting together a monthly budget and see how it goes. You won't be able to keep track of your wasteful spending unless you create a budget. A budget sets you on a path of financial discipline and shows you how much money you have coming in and how that money is spent. Managing your extra funds in a responsible manner- Whether or not you are able to achieve your professional and life's financial goals depends on how you handle excess income. Not having a strategy increases your risk of going over your budget. To become financially independent, this money might be put to good use Everything is going to get more expensive as inflation continues to rise. Inflation can't be compensated for if you don't put money into investments. Otherwise, you may not be able to retire the way you want to. Protect yourself from potential dangers- Insurance protects you and your loved ones from financial ruin in the event of a medical emergency or other unforeseen circumstances. Make sure you have appropriate life insurance for yourself and your loved ones by purchasing a term insurance policy. Also, make sure your entire family has health insurance. It is possible to protect your family's financial security and long-term goals by paying a minimal payment toward these risk insurance policies. Investing Portfolio Creation- The first step to financial independence is to build an investing portfolio. One of the most important aspects of building an investment portfolio entails diversifying your investments across multiple asset types. It's called asset allocation. There's a fine line to walk when it comes to investing in equity. To meet your investment objectives, you must diversify the sums allocated to each asset class.

  • 5 More Tax Saving Hacks other than 80C

    National Pension Scheme (NPS)-80CCD(1B) If you are or plan to open an account in the NPS or National Pension System, Section 80CCD(IB) helps in saving money on taxes. This is yet another way to reduce your taxable income by investing in a tax-saving scheme up to a maximum of Rs 1.5 lakh per year. Except for members of the armed forces, all private and public sector employees are eligible for the NPS, a social security programme run by the federal government. Additional deductions of up to Rs 50,000 are available to taxpayers who are either employed or self-employed. The deduction under Section 80CCD(1B) is in addition to the deduction available under Section 80CCD(1), i.e. Section 80C, despite the fact that the same amount cannot be claimed under both sections. Rent Paying - Section 80GG The House Rent Allowance (HRA) is a tax break for salaried employees who live in rented housing and are able to use it to reduce their tax burden. Those who are self-employed or salaried but do not receive HRA as part of their pay but instead pay rent can take advantage of tax breaks under Section 80GG. Rent paid by these taxpayers is deductible from their taxable income. The portion of a worker's salary that is designated as HRA is deducted from the worker's taxable salary under the income tax act. However, if an employee does not live in a rental property, HRA is completely taxed. Premium of Health Insurance-Section 80D You need health insurance for everyone in your family, whether it's through an individual plan or a Family Floater. Tax breaks are used by the government to encourage people to purchase health insurance. Even if you pay a premium for your parents, you can claim the deduction. Under Section 80D of the Indian Income Tax Act, health insurance premiums and health care expenses can be deducted from taxable income for tax purposes. You, your spouse, and your dependent children are eligible for a tax deduction of up to Rs 25,000 per financial year under this section. If a senior citizen's medical insurance premium is paid, they are eligible for an additional deduction of Rs 25,000. If both the individual taxpayer and the parent are over the age of 60, they can each claim a deduction of up to Rs 1 lakh. Interest Payment of Home Loan-Section 24 Section 80C allows for a deduction of up to Rs 1.5 lakh for the principal portion of an in-home loan EMI, while Section 24 allows for a deduction of up to Rs 2 lakh for the interest portion. Section 24 of the tax code allows taxpayers who have mortgages to deduct the interest they pay on those housing loans. Only if the home is occupied within five years of the loan's closing date can the tax benefit be claimed. Repayment of Education Loan - Section 80E The use of student loans to help pay for college has become quite common in recent years. When used to further one's education, student loan interest can be deducted from one's taxable income. Section 80E of the tax code allows students who have borrowed money for college to deduct the interest they pay. Depending on who is responsible for paying the student's education loan, this benefit is available to either parent or student. To get this, you'll need to take out a loan from an institution, not a friend or family member.

  • Verification of Aadhar Card

    Aadhaar is used to verify a person's identity, whether they're working for a small business or renting from you. In some cases, a document has been forged and used to make a fraudulent claim. The Aadhaar number is a 12-digit random number provided by the UIDAI to Indian citizens who have completed the Authority's verification process. The Aadhaar number can be obtained by anyone, regardless of age or gender, who is a citizen of India. Enrollment requires only the most basic of demographic and biometric data from those who wish to participate, and this information is provided at no charge. Due to the uniqueness provided by demographic and biometric de-duplication, only one Aadhaar can be generated for each person who applies for Aadhaar. The Aadhaar number can be verified online and at a low cost. As a primary identifier, it can be used to roll out various government welfare schemes and programmes for efficient service delivery, thereby promoting transparency and good governance. It is unique and robust. For the first time, a state-of-the-art digital and online ID is being provided free of charge to people at such a large scale, and this could have a significant impact on how services are delivered. How do you know if an Aadhaar card is authentic? "Aadhaar" is verifiable both online and offline, according to the Unique Identification Authority of India (UIDAI), which has stated this: You can verify your Aadhaar number online by visiting and entering your Aadhaar number, as well as your gender, state, and the last three digits of your phone number. QR codes on Aadhaar cards, letters, and documents contain demographic information (Name, Gender, Date of Birth, and Address) as well as a photograph of the Aadhaar number holder. These QR codes are used in offline mode. Digitally signed by UIDAI, the QR code contains information that cannot be altered, even if an Aadhaar card is photo-shopped with another person's photograph. In the Play Store and App Store, the "Aadhaar QR scanner" app can read the QR code.

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  • Long Term Capital Gains Calculator |

    Featured Stories Mar 1 2 min Featured International Funds available for investment amid Ukraine-Russia war The financial markets throughout the world have been rattled by the Ukraine-Russia situation. With most international mutual funds no... Feb 19 3 min Income Tax Reasons for the IT Department's notice In the event that a person engages in high-value cash transactions, the Income Tax Department is likely to issue a notice. These include... Feb 17 3 min Provident Fund NFT platforms in India and abroad Our perceptions of the world around us are increasingly being transformed by the blockchain sector. The digital mantle has now been taken... Feb 15 2 min Investments Valentine's Day Investment strategies for Couples Even though February it is the shortest month of the year, the amount of love that is shared at this time is the greatest. Valentine's... Feb 10 2 min Banking RBI Monetary Policy Meeting 2022 announcements RBI Governor Shaktikanta Das said on Thursday that the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has held the... Jan 28 0 min Income Tax Tax Exemption on Interest on Education Loan Tax Exemption on Interest on Education Loan Jan 26 0 min Featured Adani Wilmar Limited IPO Jan 21 2 min Saving Schemes Do Extra 50,000 Tax Saving Through National Pension Scheme (NPS) One of the most appealing aspects of NPS retirement planning is that you may save for your post-retirement years while simultaneously... Jan 15 3 min Featured Buy Now Pay Later - Now For Your Hospital/ Health Bills Digitalized Health EMI Network Card introduced by Bajaj Finance Ltd. - the investing and lending arm of Bajaj Finserv is a gamechanger in... Jan 14 0 min Investments Manmohan Singh v. Satoshi Nakamoto - Nifty 50 v. Bitcoin - Who won? Jan 13 0 min Investments India's First Silver ETF - Explained Jan 11 2 min Featured Sovereign Gold Bonds Series 9- How To Invest The ninth tranche of the Sovereign Gold Bond Scheme (SGB) 2021-22 will be available for subscription from January 10, 2022, for a... Jan 10 2 min Investments All Details About Sovereign Gold Bonds Scheme 2021-22 The Reserve Bank of India (RBI) announced on Friday that the issue price for the next tranche of the Sovereign Gold Bond Scheme 2021-22,... Jan 7 2 min Featured Private banks paying 6.5% on Savings Accounts. Since the interest rates on fixed deposits have fallen, more individuals are placing their money in savings accounts since the rates... Dec 29, 2021 2 min Loans How Personal Loan Will Affect Your Credit Score What impact may a Personal Loan have on your credit score? A personal loan is a type of credit. A Personal Loan can affect your credit... Dec 21, 2021 3 min Income Tax House Rent Allowance - Tax Exemption - Simplified Many salaried workers receive HRA, or House Rent Allowance, which is included in their income. However, did you know that if you live in... Dec 21, 2021 2 min Income Tax Everything about Electric Vehicle's Tax Benefits in India Electric vehicles are not only cost-effective, but they also come with tax benefits in India. Due to the fact that non-electric... Dec 21, 2021 2 min Featured EPFO Subscribers must add a nominee by December 31. EPF members have been requested to add a nominee by December 31 in order to continue receiving a slew of perks from the provident fund... Dec 21, 2021 3 min General From January 1, 2022, RBI's rules for online debit and credit cards will change. Making payments through the internet has become the new standard. People prefer to make online payments rather than carry cash in their... Dec 20, 2021 2 min Featured Calculation of Family pension and Death Gratuity if a Government Employee dies within Penalty Period In an office memorandum dated December 9, 2021, the Department of Pension & Pensioners' Welfare spelled out procedures for calculating... 2 min Importance of Savings & Wise Spending 3 min 5 More Tax Saving Hacks other than 80C 2 min Verification of Aadhar Card 3 min P2P Lending - Explained 1 2 3 4 5 What Will You Like To Explore Today Out of gallery PERSONAL FINANCE TOOLS Credit Card Interest Rate Convertor Car Loan Calculator Fixed Deposit Future Value Calculator Home Loan Calculator

  • Mutual Funds |

    Mutual Funds Mutual Funds is Sahi (Correct) - we simplify them so that investing in them becomes as easy as making Dahi (Curd) 1 Mutual Fund Explained 2 Describe your image 8 Describe your image 1 Mutual Fund Explained 1/8 2 min What are the best ELSS mutual fund investment strategies? An ELSS, or equity-linked savings strategy, has the lowest lock-in time of all the alternatives accessible to an investor. Although the... 3 min SIP or Lumpsum: Which investment method to choose? Investing comes with a variety of options. One can pick how to invest in mutual funds in addition to which schemes to invest in. 2 min Mutual fund advisors are recommending investing in Emerging Market Funds What do you mean by Emerging Markets? Emerging markets are those that are rapidly expanding in size and scope, with the potential to be... 1 min SIP Payment to be Easier with UPI Autopay Investors can suspend, amend, or cancel the mandate at any moment using the application of their choice. IDFC Mutual Fund has introduced... 2 min Systematic Transfer Plan (STP) STP is a method in which an investor transfers a defined amount of money from the Source scheme to the Target scheme (usually from a debt... 0 min Difference Between SIP And STP? Difference Between A SIP And STP? 0 min Motilal Oswal S&P BSE Low Volatility ETF Motilal Oswal S&P BSE Low Volatility ETF 0 min Can minors invest in Mutual Funds? Can minors invest in Mutual Funds? 4 min IPO vs NFO What is an initial public offering (IPO)? An initial public offering (IPO) is a procedure by which a firm seeks funding from investors in... 2 min International Funds available for investment amid Ukraine-Russia war The financial markets throughout the world have been rattled by the Ukraine-Russia situation. With most international mutual funds no... 3 min Debt Funds investments for Long-Term Objectives Debt funds are typically used to support short-term aims, but what about long-term objectives? For those who want to invest for the long... 0 min All you need to know about SBI MultiCap Fund SBI MultiCap Fund 3 min NFT platforms in India and abroad Our perceptions of the world around us are increasingly being transformed by the blockchain sector. The digital mantle has now been taken... 2 min Valentine's Day Investment strategies for Couples Even though February it is the shortest month of the year, the amount of love that is shared at this time is the greatest. Valentine's... 2 min Gold ETF vs Gold Mutual Funds Gold has been a popular investment choice across the world. Many people's investing portfolios include it by default. It is not only a... 2 min Contra Mutual Fund-Mutual Fund that invests in underdogs Contra Fund- In a contra fund, the manager mostly invests in the stock of firms that aren't doing well right now. Stocks are expected to... 1 min Know This Before You Invest in International Mutual Funds What is an International Equity Fund, and how does it work? An International Equities Fund is a mutual fund that invests primarily (more... 0 min India's First Silver ETF - Explained 1 min Factors to be considered before investing in Silver ETFs On January 13, 2022, three fund houses plan to launch two silver ETFs and three silver ETF fund of funds (FoF). Each of Aditya Birla Sun... 1 min India's First Auto ETF Launched By Nippon India Mutual Fund The asset manager of Nippon India Mutual Fund (NIMF), Nippon Life India Asset Management Limited, has announced the introduction of... 2 min Effect of GST on Investments There are now many tax brackets in place in the country, and the goal of the GST is to eliminate them and replace them with a single flat... 1 min ICICI Prudential Passive Multi-Asset Fund of Funds NFO The ICICI Prudential Passive Multi-Asset Fund of Funds has been introduced by ICICI Prudential Mutual Fund. The product, according to... 4 min Fund of Funds - Explained An F0F provides you with the ease and benefits of investing in numerous funds in one transaction. A mutual fund that invests in other... 1 min HSBC Mutual Fund Acquires L&T Mutual Fund - What Will Happen To Investors L&T Mutual Fund investors do not need to be concerned sinc