Sanjay Matai, The Wealth Architects

The Most Authentic Guide on Personal Finance and Investments

Words of Wisdom : "If past history was all that is needed to play the game of money, the richest people would be librarians." ~ Warren Buffett

Can You Take A Home Loan And Also Claim Tax Exemption On LTCG?

Profit on the sale of a residential property — held for more than 2 years — is considered as Long Term Capital Gains for the income tax purposes.

You are liable to pay Long Term Capital Gains Tax on the same @20% with indexation benefit.

Indexation benefit allows you to adjust the original cost of property, for the inflation during the period you held the property. Hence, only the real appreciation in the price is taxed.

Mona Darling Dumps Lion. Invests In Sovereign Gold Bonds.

Lion, the much loved villain of the Indian movies who has built his empire smuggling gold, is very angry.

His 'favourite' Mona Darling has decided not to buy gold. Instead, she is investing in the Sovereign Gold Bonds. Lion is apprehensive that if more and more ladies decide to emulate Mona Darling and stop buying physical gold, his 'golden' empire will collapse.

Get Tax Exemption On Rent (Even If You Don't Get HRA)

Most people are aware that they can claim deduction in their income tax, for the House Rent Allowance (HRA) received by them from their employer.

See 'How to calculate your HRA tax benefit' for the calculations and other relevant details on the same.

However, what happens if you are staying in a rented accommodation (whether furnished or unfurnished), but your salary does not include any house rent allowance? Or, you are a self-employed person with no employer paying you any HRA?

Why The Power Of Compounding Fails With Most Investors

Compounding has made many millionaires

But very rarely do they get written about. Nobody is interested in the dull, monotonous and tedious stories.

Fun, excitement, drama... that’s what people like, and demand. Hence the media too seldom focuses its attention on those who made their millions in a simple and straightforward manner.

11 Common Mistakes In Filing The Income Tax Returns

Financial Year 2017-18 ended last week. In a few months from now, we will have to take up the (unpleasant) task of filing the Income Tax Returns for the same.

In this regards, you would save lots of time, effort and future questioning from the Income Tax Department, if you avoid the most obvious errors in Returns filing.

Listed below are some of the blunders often committed by people in this process.

Surprise! IRDAI Cuts Third Party Insurance Premium Rates

As you would be aware, Insurance Regulatory and Development Authority of India (IRDAI) has been repeatedly increasing the premium rates on the Third Party Liability Insurance for the last 4-5 years.

Not only that, on each occasion the increase has been quite sharp and steep.

Thankfully, and quite surprisingly, for the year 2018-19 IRDAI has announced a cut in the premium rates for certain categories of vehicles. And, for other categories too the increase is mainly nil to moderate.

Interest Rates On Small Savings Schemes Unchanged For Apr-Jun 2018

After slashing the interest rates on various Small Savings Schemes by 0.20% in the previous quarter Jan-Mar 2018, the Ministry of Finance has decided to maintain the same rates for the next quarter Apr-Jun 2018.

This announcement was made by the Department of Economic Affairs, Ministry of Finance vide its Office Memorandum — Revision of interest rates for Small Savings Schemes — dated Mar 28, 2018.

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Ignorance is like a SIGNED BLANK CHEQUE... anyone can MISUSE it.

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