Friday, March 27, 2015

Liberalised Remittance Scheme : Your gateway to global investment

Once upon a time it was impossible to make investments outside India. In fact, the access to foreign currency was so restricted that even the routine expenses abroad were a huge challenge.

The scenario transformed drastically in 2004 with the announcement of Liberalised Remittance Scheme (LRS) by the Reserve Bank of India.

Under LRS, we are allowed to remit foreign currency outside India, up to a specified limit, for any permitted Capital and / or Current Account transactions.

Wednesday, March 25, 2015

Exclusions in health insurance often cause conflicts

Not all treatments are payable by insurance companies under a health insurance policy.

Not all people are fully aware of these exceptions, which in insurance parlance are called "exclusions".

This lack of awareness and communication routinely results in disputes and disagreements with the insurance company.

Monday, March 23, 2015

Numerology for best investments with maximum returns

Many people have belief in the mystical power of numbers. Hence, they choose to have their "lucky" number for their homes, cars, etc. In fact, so deep is their faith in numerology, that they even juggle with the letters in their name to make it "numerologically" lucky.

We, financial planners, too believe in the power of numbers; but with a difference.

Instead of MYSTICAL, our faith lies in the MATHEMATICAL power of numbers.

Friday, March 20, 2015

Is your leave encashment taxable or not?

Unutilized earned leave encashed by the Central / State Government employees, at the time of their retirement, is "entirely exempt" from tax.

Unfortunately, the non-Government employees are deprived of this bonanza. Only a part amount of their leave encashment is tax-free; with tax payable on the balance portion. (Why this discrimination?)

Moreover, the wording of the relevant tax law [Sec 10(10AA)] is somewhat ambivalent and contentious, leading to many disputes.

Wednesday, March 18, 2015

Serious online NEFT money transfer error

Transferring funds electronically has become quite common. In fact, with RBI working towards a cheque-less banking system, in due course of time most money transfers would happen online.

As you would be aware, RBI offers you two modes for Inter-bank transfer using the Internet viz. National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS).

While the usual precautions to be observed when doing online transactions are widely circulated and known, there is one issue that very people are aware of.

Monday, March 16, 2015

Warren Buffett's letter to shareholders is truly invaluable

Warren Buffett's letter every year to his shareholders, as part of the annual accounts of his company Berkshire Hathaway Inc., is most eagerly awaited by investors across the world.

Apart from presenting the performance and numbers of the various companies that form part of the sprawling Berkshire conglomerate, Warren Buffett infuses it with most invaluable financial wisdom.

It is a misconception that his advice is relevant for equity investors only. No.

Friday, March 13, 2015

Devils in the Union Budget 2015-16's fine print

Union Budgets presented by the Finance Ministers every year typically contain numerous proposals. 

While a few of the prominent announcements get extensively discussed and debated, many are overlooked and often go practically unnoticed... till the tax notice hits you.

So what devils lie in the details of this year's Union Budget?

Recent Money Making Ideas...

Sharing is Caring...

Share Button

More Personal Finance Tips on...

Don't bother to come back. We'll send you regular updates... FREE

Subscribe via Email