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How can you avoid getting into a financial mess?
There are a few
basic rules that one must adhere to if one wants to steer clear of financial problems. A brief discussion with our own
financial experts got us these guidelines that one ought to follow in order to avoid getting into a financial mess.. more
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Common
investment mistakes to be avoided
Never trust an
unknown stockbroker who might call and make tall promises about doubling your money in record time. While they might end up
with fat commissions for investing your money... more >> |
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Deductions in the case of handicapped persons
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Sec.80 U and Sec. 80 DD of the Income Tax Act certain deductions are available to the physically handicapped .
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Basics of income
tax
The Indian Income
Tax Act is probably the world's most frequently amended one. more>> |
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Who should file income
tax?
With effect from
1-8-1998 persons fulfilling any one of the six conditions are required to file a return of income in Form No. 2C. more>> |
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Income tax- residence
types
The taxability of
an income depends on the person's residential status. more>> |
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Planning your income
tax
In India's legal
quagmire, you may very easily get confused and end up paying more than you have actually bargained for. more>> |
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Rates for income tax
The rates of
income tax applicable under the Finance Act, 1999 for the financial year 1999-2000 i.e., assessment year 2000-2001 in the
case of an individual are given below: more>> |
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Life
insurance
A life cover is a
must. But how much should you insure yourself for, to take care of your family's needs if you were to die tomorrow? more >> |
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Medical
insurance
Unlike many of the
life insurance plans, medical insurance will not fetch you the insured sum with bonus and additions. more>> |
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Home
insurance
Breaking into
homes and de-camping with jewellery takes place everyday and the newspapers are full of such news. more>> |
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Golden rules
to avoid the debt trap
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take a debt where the monthly repayment is more than 50% of your take-home salary. more>> |
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Happy
shopping and happy negotiation
The first question
you have to answer is how much debt can you incur. A simple thumb-rule: lenders consider you a credit risk, only if you
have less than 50% of your disposable income tied up in fixed outflows like debt repayments. more>> |
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Other tax
concessions
Look here for tips
on other tax concessions. more>> |
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Rent-free
accommodation
This is another
major tool for tax reduction, especially for senior executives. more>> |
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Leave travel assistance,Transport & Motor car allowance
Reimbursement of
leave travel expenses incurred by you and your family on travel to any place in India is exempt to the extent of the
actual amount spent on travel. more>> |
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Stock options
& Medical Allowances
| These are
shares alloted to an employee by his employer either free or at a nominal price. more>> |
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Public provident
fund
When it rains it
pours. So why don't you make sure that it pours. Earn a better rate of interest than what the bank has been paying you. Go
ahead and try the Public Provident Fund (PPF). Get clever and save on income tax! more>> |  |
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NRI Tax
Who is a resident
of India?A person who meets either of the following Basic conditions is considered a resident:The person should have been
in India for 182 days or more during the previous yearORShould have been in India for 60 days or more during the previous
year. more>> |
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