It is necessary for people to file ITR even if tax liability is zero? The answer is No. A person whose taxable income is below a limit, can avoid income tax return filing. Such people can file IT returns voluntarily. What is the limit below which, filing ITR becomes a voluntary requirement? When taxable income…
Mostly it is the business men who become richer than others. But how can a salaried person become rich? Smart business men tend to become rich more frequently than salaried people. Yes, the keyword to become rich is “smart”. One need to handle ones paycheck (income) smartly. Smart and rich business men tend to handle their…
GOI has announced a pension scheme called “Pradhan Mantri Vaya Vandana Yojana (PMVVY)” for retired people above 60 years of age. PMVVY scheme was made available for sale since 4th-May’2017. It will remain available for sale only till 31st-Mar’2020. Only LIC of India has the sole right to operate PMVVY. One can buy online the…
In this article we will try to discuss all about investment. We will not focus on jargons. Instead, we will try to answer simple questions related to investment. But before that, lets brush-up an important basic about investment. There is a concept in investment, which categorise “all investors” into 2 types. Owners & Lenders As…
Let me give you the answer straight away. There is no way one can build or improve credit score without debt. Though there is a small compromise possible. But I will disclose it at the end of this article. But before that allow me to share my concept about “credit score” first. I know, you started to…
Why it is essential to plan a home purchase? Home is one among the biggest personal purchases one makes in a lifetime. Hence it is only prudent to plan it immaculately before committing any cost. Why immaculate planning is necessary? Because we are dealing with a lot of money here. In this article we will…
What is the effective income tax paid on the salary that we earn? Whenever this question is posed on people their answer is, “as per our tax slab”. But when the question becomes more specific, people start to falter. Why? Because they have never done this calculation themselves. If you also subconsciously desired to get…
Advance tax payment is not only applicable to the rich Bollywood stars and Businessmen. Even a salaried person may require to pay advance tax. How a salaried person can pay advance tax? This is what we will see in this article. But before that, lets understand the conditions under which a salaried person may be…
What is BHIM UPI? BHIM stands for “Bharat Interface for Money”. How BHIM UPI works? UPI stands for “Unified Payment Interface”. BHIM UPI is a revolutionary payment system started by Government of India. BHIM UPI is basically a Mobile APP which can be used to send and received payment in seconds. Why its is revolutionary? Because of three…
We can derive some important investment answers using excel. In this blog post we see some of the most common investment questions being answered effortlessly using excel. Generally we do very lengthy calculation in excel to arrive at a particular answer. But why to do those lengthy calculations when excel has some inbuilt formulas which…
Financial planning for doctors is essential, why? We know that good doctors earn lot of money. So does it mean that all good doctors are rich? Not necessarily. Doctor is a professions which is a combination of personal skill and knowledge. A perfect balance of both makes a doctor good or average. Any work which…
The concept of pay yourself first has tremendous powers of making one financially independent. How? At least, it builds a strong foundation for it. “Pay yourself first” was a phrase which was first used in a book called The Richest Man in Babylon. But this simple statement has been converted into a profound personal finance rule…
