Monday, July 28, 2014

Think debt consolidation when drowning in debt

debt-consolidation-when-drowning-in-debt
Are you drowning in debt?
Plenty of attractive goods and services in the market
+ Smart bankers ready to finance your dreams and aspirations
= Rapidly multiplying debts and EMI obligations

And before you realize, many small bills add up to a hefty amount that threaten to take away most of your salary... every month.

If your debt problems are yet to achieve serious proportions...
If you haven't still crossed that all-important point of no return...
...  there is a remedy to solve all your debt worries.

Friday, July 25, 2014

Brilliant Tax Planning with House Property income

tax-on-income-from-propety
Tax on Property Income
Income Tax Act divides your income into five different heads. One of them is ‘income from house property’. It is the rent earned on the property(s) owned by you. Good news! You don't have to pay tax on the entire rental income, but only on a part of the same.

But before we get into that... the word 'house' is a misnomer as "property" covered under ‘income from house property’ comprises any building (house, office building, godown, factory, hall, shop, auditorium, etc.) and / or any land attached to the building (e.g. compound, garage, garden, car parking space, playground, gymkhana, etc.).


Thursday, July 24, 2014

Loan against Gold is a smart idea

jewellery-gold-loan
Use your gold jewellery in emergency
Loan against gold ornaments / jewellery is any day a better alternative than personal loans or credit cards. The obvious reason is the interest cost (and in the bargain you would also save on the paperwork and your precious time).

Personal loans and credit cards can cause extensive damage to your finances with interest charges being normally around 18-36% per annum. The cost of gold loans, on the other hand, would be comparatively much more palatable at around 15-20% p.a.

Tuesday, July 22, 2014

Blunders in filing Income Tax returns can invite I.T. Notice

correct-filing-of-income-tax-returns
IT Return : File it Right
The unpleasant and repulsive annual ritual of filing Income Tax returns is upon us. With July 31st, the last date of filing tax returns, approaching fast many of us must be experiencing elevated blood pressure levels and sleepless nights.

Howsoever obnoxious the task may be, we have to make sure that we avoid repeating the blunders commonly made by many taxpayers. I am sure you don't want to receive the Income Tax notice and go through the whole rigmarole again.


Monday, July 21, 2014

Blind faith in Fixed Deposits is destroying wealth

say-no-to-fixed-deposits
Say No to Fixed Deposits...
As per a recent newspaper report, 116 of the 526 co-operative banks in Maharashtra are in serious trouble. 22% distressed banks is no small number. Of these 106 are facing liquidation and 10 are under RBI-appointed administrators. As such, crores of rupees of fixed and savings account deposits, belonging to thousands of ordinary account holders, are facing grave threat.

Friday, July 18, 2014

Do your Tax Planning NOW

tax-planning-in-advance
Tax Planning...Earlier the Better
The budget for the current financial year has been announced. You are now aware of the new tax provisions. Since there have been many changes, you need to revise your tax planning strategy accordingly.

Oh, I guess I made a wrong statement... few people do an intelligent tax planning.

Most people rush to complete their tax saving formalities at the year end, when their employers fix a deadline to furnish the proof of their investments.


Thursday, July 17, 2014

Early Diwali for new home loan borrowers

home-loan-gets-cheaper
Coming soon...Cheaper home loans
Its going to be early Diwali for people looking to have their "own" roof over their head. Living in one's own dream house is undeniably one of the most cherished feelings. And Modi Govt. is working towards making this dream come true for the millions of aam aadmis, aurats and their bachhe.

Pursuant to the announcement made by the Finance Minister to encourage affordable housing, RBI has notified certain measures that would enable banks to reduce the interest rates on home loans, particularly in the small / mid-category.

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