FINANCE

10 Clever Personal Finance Rules that will help u save more. 1) Rule of 72 2) 100- Age Rule 3) 50-30-20 Rule 4) 1st Week Rule 5) 6X Emergency Fund 6) 20X Term insurance 7) 40% EMI Rule 8) 2X Savings Rule 9) 3*3*3 Plan 10) 25X Retirement Rule.   1. Rule of 72  Always wondering when your money will double ?  This Rule will Help ! Simply Divide 72 by your expected Rate of return. Ex - if a bond is Giving 10% returns,  Divide 72 by 10 = 7.2 Years Note - This rule provides close but not exact outcome.  2.100 - Age Rule Worried about asset allocation ? i.e. how much should you invest in Equity vs Fixed income ? -Simply Subtract your age from 100 and that is your allocation to equity Eg - If your age is 25, 100 - 25 = 75 Thus 75% of your investments should be in equities 3. 50-30-20 Rule Struggling with budgeting ?  Divide your income like this : ➡️50% Spend on needs (bills, education, transport, food etc) ➡️30% on wants (Holidays, Movies, restaurants etc) ➡️20% S...

💰 Don't let Advance Tax penalties eat into your profits! Avoid these common oversights to stay ahead of the game. 🗓️✅ 💼 Salaried Folks: Job switchers may have additional tax liability from previous employer's salary. Interest income, share/MF sale proceeds, capital gains, and gifts can add to your tax burden. 🧓 Senior Citizens: Business income, even if you're retired, can attract Advance Tax. 🏭 Small Businesses: Non-audited businesses with tax liability should still pay Advance Tax. 🏘️ Housewives: Income from trading, small professions, or gifts can trigger Advance Tax. 👨‍👩‍👧‍👦 Young Adults: Asset transfers for tax benefits may require Advance Tax on the generated income. 💡 Remember, timely payment of Advance Tax saves you from hefty penalties. Calculate your liability and stay compliant. 🧮✅ 💰 Every penny saved is a penny earned. Don't let Advance Tax oversights erode your financial well-being. 🔒✅

Unclaimed amount of ₹1,45,762 Cr is lying idle due to lack of nominee update. PF : ₹58,000 Cr LIC : ₹21,500 Cr Mutual Funds : ₹24,000 Cr Bank Deposits : ₹42,262 Cr Let's utilise this weekend to check & update nominees for the sake of family. The Reserve Bank of India launched the UDGAM Portal (Unclaimed Deposits : Gateway to Access information) on 18th August 2023 for General Public. You can check if your grand father has left something for you in the bank.  share to spread the message. . https://udgam.rbi.org.in/unclaimed-deposits/#/login

Why you have not received ITR Refund till now? Some of the ITR filing cases go for scrutiny by the Income Tax Department to ensure accuracy and compliance. If your return has gone for scrutiny, then the ITR refund will take time to be credited to the account. July 31 was the deadline to file an Income Tax Return for employed taxpayers and almost everyone has filed it within the deadline and is now waiting for the refund. While some have got their ITR refund credited to their accounts, others still have not got it. There could be several possible reasons why the ITR refund has not yet been credited to their account. It's of paramount importance to investigate these possibilities to determine the cause of the delay and take appropriate action. First, you need to keep track of any communication from the IT Department and respond promptly if they request additional information or verification. Apart from this, there are a few other reasons why you might not have received your ITR refun...

(After doing this you might come to know whether it is pending due to any specific reason or specific action pending from your side) Step 1 Login to Income Tax portal and Go to My Profile > My Bank Accounts Check whether bank account is Validated and if Validated then Nominate it for Refund If Bank account not added then add Bank Account or Error in validation then revalidate it with correct data Without bank validation refund will not be credited to your account If it shows validation failed then kindly update KYC data in bank and then again add that bank account with correct details if Bank account is validated then you can go to step 2 Step 2 Check whether PAN and Aadhaar were linked, without linking of PAN and Aadhaar ITR will not get processed, if linked go to step 3 Step 3 Check whether ITR processing get completed or not Refund will be issued by CPC once processing of ITR is completed, if your ITR is processed then go to step 4 to check Refund Status Step 4 Check Refund Statu...

I’m a Taxpayer who falls under 30% Income Tax Bracket & upto 28% GST on Purchases And I Commit to Never Take Benefit of Free Electricity, Free Public Transport, Subsidised LPG and Other Such Schemes Those are Meant for Poor & should not be Exploited by People who are Privileged I’m absolutely against Freebies for Political gains, regardless of any Political Party in India But there are majority of people, who needs many such schemes. For me and many others ₹1000 could be a price of Coffee & One Time Meal But for Millions of others in India earning between ₹10,000-₹30,000 Per Month and having to manage family, bills, medicines etc Even ₹1000 can make a lot of difference As a Taxpayer, If you ask me I do feel exploited at times like many others who pay their taxes honestly (Income Tax & GST) both We don’t really get social security benefits, great roads, infrastructure, better quality of living, healthcare, education etc despite being Taxed like 1st World Countries Things...

Financial Plans don't have to be Complex. Here is a Simple Financial Plan-    🏥Buy Health Insurance- all family members (min 5L)  🛡️Buy Term Insurance- Earning members (20xAnnual Income)  🦺Create an Emergency Fund- 6 months  💰Save minimum 30% of your Income 📈Invest 70% of your Savings into Equity Instruments - Index Funds/Large cap etc. 📰Invest the rest into Debt Funds/Bonds/SGBs 🏖️Invest at least 15% of your savings in a Retirement Plan. 💵Choose Low-cost Investments, wherever possible *Note- Financial planning is a personalized process that should consider individual goals, income, expenses, and risk tolerance. It's beneficial to review and adjust your financial plan periodically to accommodate changing circumstances and financial goals.

Indians love gold. In fact Indian households have more gold than Central banks of the biggest economies. But did you know that we are still price takers in the global gold market? To solve this, SEBI is planning to introduce electronic gold receipts (EGRs). What are EGRs? When you deposit your money in a bank, your balance will show the amount of money in your bank account. It is your money and the balance is proof that the bank is holding this amount for you. Similarly, EGR is a certificate that says you own 10g of gold. You are not physically holding the gold but there is a vault manager who is taking care of it. These receipts are available in demat form and can be traded just like stocks. How do you get these EGRs? You can either buy these receipts from the exchange Or You can deposit your gold at a SEBI-registered vault manager (Maybe a bank). Against 20g of gold, they give you 2 electronic receipts of 10g gold. What is the advantage of these receipts? 1) Makes selling...

To avail tax exemption under Income Tax Act 80G, you will have to upload the donation receipt certificate issued by the concerned organization while filing the income tax return. Without this, tax exemption will not be available. If you donate to any charitable institution or religious institution and non-governmental organizations, then you can take advantage of tax exemption under Income Tax Act 80G. For this, you will have to upload the donation receipt certificate issued by the concerned institution while filing income tax return. Without this, tax exemption will not be available. It is also worth noting that 50 to 100 percent tax exemption can be availed according to the categories of entities. Have to give 10BE certificate As per the Income Tax rules, any charitable or religious institution or NGO has to report the donations received during the entire financial year to the Income Tax Department. Also, the person making the donation has to issue a Form 10BE certificate. With this,...

ONDC seem Biggest Threat for Swiggy/Zomato Price of McDonald’s Burger 🍔 • Swiggy/Zomato - ₹282.5 • ONDC - ₹109.4 Over 60% Savings for Users This is UPI Moment for India’s E-Commerce 🚀 Let’s decode this Commission (18-24%) is the Biggest Head for Restaurants,  They also pay Platform Fee & Taxes This eventually increases the overall cost for users, also less profit margin for Restaurants While ONDC is Building a Sustainable Ecosystem Restaurants just pay 2-4% commission, Delivery cost to be paid by Users Read More on this - https://inc42.com/features/restaurants-have-ondcs-back-to-end-swiggyzomato-duopoly-will-they-succeed/ To be clear & Takeaways • There’s no separate app for ONDC, you can’t find directly on the App Store • ONDC is an Ecosystem, currently you can use Paytm & a few other integrated apps • ONDC is still in Beta and available in selected cities Restaurants can offer better pricing to users because they save aggregator (...

As per many High Court Judgements, & CBDT Instruction No 1916 Married Women – 500 grams Unmarried Women – 250 grams Male Member – 100 grams For example, in a family consisting of a Father, Mother, Married Son & his Wife and unmarried Daughter, total 5 members can hold 2 Married Women – 500 *2 = 1000 gms 2 Male Member – 100*2 = 200 gms 1 Unmarried Women = 250*1 = 250 gms Total = 1450 gms of Gold Jewellery The CBDT guidelines in Instruction No 1916 define the limits for Search operation and seizure and not for assessment, however, various High Court rulings considering Indian Traditions and Customs are of the opinion that such holding found in possession will not be questioned for its source and acquisition.  The quantities specified in the instruction are to be treated as reasonable and therefore explained and should not be the subject matter of additions during assessments As per Hindu Tradition, gol...

ఆంధ్రప్రదేశ్ లో డేటా కోసం వెతుకుతున్న వివిధ పార్టీల మిత్రులకు ఈ తీగ !!  మీరు యుద్దాలు చేసుకోవాలంటే మొత్తం డేటా ఒక్క చోట దొరకదు కనుక , రక రకాల రంగాల్లో డేటా సౌర్సులు ఇక్కడ తీసుకోండి. 1.  హౌసింగ్ డేటా ఇక్కడ చూసుకోవాలి. http://dashboard.mohua.gov.in/ http://pmay-urban.gov.in/ 2. తరువాతి ప్రధాన రంగం పవర్ సెక్ట్రారు. ఇక్కడ జనరేషన్, డైలీ డేటా చూడవచ్చు. దానికి సంబంధించిన కొల్ డేటా కూడా ఇక్కడ చూడవచ్చు. https://npp.gov.in/dashBoard/cp-map-dashboard కోల్ డేటా: https://npp.gov.in/publishedReports 3.వాహన రిజిస్ట్రేషన్ లు, ఏ జిల్లా లో ఎక్కువ డబ్బులు వస్తున్నాయి, ఏ ఆర్టి వో లో ఎక్కువ డబ్బులు వస్తున్నాయి, వంటి నెలవారీ డేటా కోసం వాహాన్ డ్యాష్ బోర్డు చూడండి. ఇక్కడ తెలంగాణ తప్ప మొత్తం డేటా చూడచ్చు. https://vahan.parivahan.gov.in/vahan4dashboard/ 4.ఇక్కడ రైల్వే కు సంభందించిన డేటా ఇక్కడ చూడవచ్చు. పెద్దగా ఉపయోగం లేకపోయినప్పటికీ, స్టార్ట్ అప్ ఐడియాలు కు బాగా పనికి వస్తుంది. https://raildrishti.indianrailways.gov.in/raildrishti/mobilesite/ReservedPassenger1.jsp?period=Y&type=P 5.గాలి మోటార్లు ...

• Income Tax takes 0-30% & Surcharge So if you Earn around ₹50 Lakhs Annually, which is certainly a good income in India Government takes away roughly ₹10 Lakh as Income Tax as Per New Tax Regime (Subjected to your CTC Breakup) Now you’re left with some ₹40 Lakhs But this is just start of Taxation • When you buy a Car🚗 -Pay upto 28% GST on Purchase -Registration & Road Tax upto 18% - Additional Cess, Toll -GST on Insurance, Parts, Loan Fee etc too • When you buy a Home 🏠 - Pay Upto 8% Stamp Duty Registration - GST upto 18% on Loan Processing Fee & Foreclosure • When you Get Medical/Health Insurance 😷 - Pay 18% GST on Insurance Premiums • When you Invest your Hard Earned Money (Already Taxed) - Pay LTCG, STCG, STT, TDS etc on Gains We pay GST on everything from Food, LPG, Travel, Electronics, Medical Supplies, Stationary, Books etc Income Tax with GST is a Painful Combination for Citizens We pay Taxes like First World Countries & still struggle for Good Pu...

🔸New (Revised) vs Old Tax Regime - Which one to chose??  Wondering which would be more beneficial for you - New or Old?? 🤔 Let's answer that in a Simple, Easy to Understand way!!  NO Jargon, NO Complex Excel sheets👇 🔹 For Income up to 7 Lakhs - If Deductions + Exemptions > 200,000 : Old Regime  - If Deductions + Exemptions < 200,000 : New Regime 🔹 For Income up to 8 Lakhs - If Deductions + Exemptions > 212,500 : Old Regime - If Deductions + Exemptions < 212,500 : New Regime 🔹 For Income up to 9 Lakhs - If Deductions + Exemptions > 262,500 : Old Regime - If Deductions + Exemptions < 262,500 : New Regime 🔹For Income up to 10 Lakhs - If Deductions + Exemptions > 300,000 : Old Regime - If Deductions + Exemptions < 300,000 : New Regime 🔹For Income up to 11 Lakhs - If Deductions + Exemptions > 325,000 : Old Regime - If Deductions + Exemptions < 325,000 : New Regime 🔹For Income up to 12 Lakhs - If Deductions + Exemptions > 350,000 : Old...

Suppose, You are working with Company "A" and were employed there at the start of the financial year 2022-2023 drawing a salary of Rs. 40k per month (4.8 Lakhs per annum). For ease of understanding, let's assume you have no other income/deductions disclosed to your employer. The employer deducted no TDS on Rs. 4.8L since, there is no tax on 4.8L as you are eligible for rebate under section 87A for total income upto Rs. 5 Lakh. Till September, You were working with Company 'A' and has drawn a salary of Rs. 2.4 Lakhs till date.  From 1st October, You are joining Company 'B' who have offered you an annual package of 8 Lakhs per annum. So, from September to March, Salary Payable for 6 months comes to Rs. 4 Lakhs.  Company "B" did not deduct any TDS as the taxable salary is below 5 Lakhs here. But, You will say company "B" should have deducted TDS here but let me tell you why did Company "B" did not deduct TDS? Reasons 1. Most peop...

LIC వంటి ప్రభుత్వ రంగ ఇన్సూరెన్స్ కంపెనీలు మాత్రమే కాకుండా ప్రైవేటు రంగ ఇన్సూరెన్స్ కంపెనీలు ప్రజల (తమ కస్టమర్స్) వద్ద నుండి ఇన్సూరెన్స్ ప్రీమియం రూపంలో డబ్బులు సేకరించి ఆ డబ్బును డెట్ మరియు ఈక్విటీ మార్కెట్లో పెట్టుబడి పెడతాయి. తమ వద్దనున్న నగదును మార్కెట్లో పెట్టుబడులు పెట్టడానికి ఫండ్ మేనేజర్లు ఉంటారు. వీరికి ఈ ఇన్సూరెన్స్ కంపెనీలు సంవత్సరానికి లక్షలాది రూపాయలు వేతనం చెల్లిస్తారు. కొన్ని ఫండ్స్ మేనేజర్స్ సగటున 10 వేల కోట్ల ఫండ్స్ కూడా మేనేజ్ చేస్తూ ఉంటారు. బ్యాంకులు ఎలాగైతే ప్రజల వద్ద నుండి సేకరించిన డిపాజిట్ డబ్బులను ఇతరులకు రుణాలు ఇవ్వడం ద్వారా వడ్డీ ఆదాయాన్ని పొంది, ఆ వడ్డీలో కొంత మొత్తం డిపాజిట్ దార్లకు చెల్లిస్తాయో ఇన్సూరెన్స్ కంపెనీలు కూడా ప్రజలు (కస్టమర్స్) కట్టిన ప్రీమియంల డబ్బులను ఇతర ఫైనాన్షియల్ ఇన్స్ట్రుమెంట్స్ లలో పెట్టుబడి పెట్టి లాభాలను ఆర్జించి, అందులో తమ నిర్వహణ ఖర్చులు, ప్రాఫిట్ మార్జిన్ పోను మిగిలిన మొత్తాన్ని తమ కస్టమర్స్ కి చెల్లిస్తాయి. LIC మునిగి పోతుందా ? LIC మొత్తం assets సుమారు గా 42 లక్షల కోట్లు . అందులో ఈక్విటీ లో invest చేసింది 10.27 లక్షల కోట్లు . 202...

పరిస్తితులకు అనుగుణంగా మారడం!🪷    ఏదైనా గ్రామంలోకి వెళ్లి ఒక రైతుని ‘మీకు ఎదురవుతున్న ప్రధాన సమస్య ఏమిట’ని అడగండి. వ్యవసాయానికి కూలీలు దొరకడం లేదు అంటారు. పట్టణంలోకి వెళ్లి ఒక హోటల్ యజమానిని అడగండి.  కుక్స్, వెయిటర్స్, ఫ్రంట్ ఆఫీస్ పనులు చేయడానికి సరైన వ్యక్తులుదొరకడం లేదు అంటారు.  అసలు ఈశాన్య భారత దేశం వారు ఉండబట్టి సరిపోయింది. లేకపొతే పెద్ద క్రైసిస్ వచ్చివుండేది!" అని ఒక హోటల్ యజమాని అంటున్నాడు. భవన నిర్మాణ దారుణ్ని అడగండి. ‘ప్లంబర్లు, ఫిట్టర్లు మొదలైన వారు దొరకడం లేదు!’ అంటారు.మారిషస్ వాళ్ళకు అక్కడ ‘పురోహితుడు, కుక్ కావాలి, దొరకడం లేదు. సాయం చెయ్యండి!’ అని వారు అడుగుతున్నారు.  ఒక పక్క దేశంలో నిరుద్యోగ సమస్య తీవ్రంగా వుంది అంటున్నారు. మరోపక్క అన్ని రంగాల్లో సరైన నైపుణ్యం ఉన్న వ్యక్తులు దొరకడంలేదు అని ఆయా రంగాల్లో నిపుణులు చెబుతున్నారు.💐 ఈ వైరుధ్యాన్ని ఎలా అర్థం చేసుకోవాలి? హోటల్స్ లో దోశ మాస్టర్ కు ఇరవై ముప్పై వేలు ప్రారంభ జీతం వుంది. అదే ఇంజనీర్ లు పది వేల జీతానికి కూడా క్యూలో నిల్చుంటున్నారు.  సమస్య ఎక్కడ వుంది అంటే అందరికి వైట్ కాలర్ జాబ్ లే కావాలి....

Sukanya Samriddhi Yojana Features, Benefits and Interest Calculation Explained Sukanya Samriddhi Yojana (SSY) is a savings scheme launched back in 2015 as a part of Government initiative Beti Bachao, Beti Padhao campaign. This scheme enables guardians to open a savings account for their girl child with an authorized commercial bank or India Post branch. Current Interest Rate is 7.6% annually (as of Jan 2023), and is reviewed every quarter. You get Income Tax Benefits under Section 80C while saving in this scheme. Deposits in an account can be made till completion of 14 years, from the date of opening of the account. The account shall mature on completion of 21 years from the date of opening of the account. Partial Withdrawals are allowed for the purpose of higher education and marriage of the girl child. You can open a maximum of 2 accounts in a family. Monthly interest is calculated and compounding frequency is annual Interest Calculation in SSY: