"Sharp MCLR Cut brings relief to the home loan borrowers" read one of the news posts. On top of it, the senior management of the banks appealed existing home loan borrowers to shift to MCLR to take advantage of MCLR cut. I received large no of queries on my blog on how to take benefit of MCLR cut. In certain cases, wherein i suggested the readers that they will not be benefited immediately, i received some angry reactions :). The readers thought that i am trying to mislead them. But once they approached the bank and clarified the points shared by me, their apprehensions were gone :). Let me ... Read More
Mobile Wallets – Is Your Transaction Reported Twice to Income Tax
Demonetization proved to be a boom for mobile wallets. Cashless is the new buzzword in India. It will not be an exaggeration that mobile wallets are one of the synonyms to become Cashless. In my post, Cashless Payments - 15 ways to become a cashless person i shared that mobile wallets are one of the convenient ways to go cashless. To be very honest with the readers, till date i have not come across a single post discussing mobile wallets and income tax angle. Though it might not be relevant in all the cases that we will discuss later in the post. I thought of sharing my views on the same ... Read More
5 Habits That May Put Taxpayer On Income Tax Radar
As a taxpayer to be on an income tax radar is the last thing that I expect in my life :). It is not the case that I am not paying my taxes honestly or has something to hide. To be fair and logical as a taxpayer, even though my slate is clean still, it is practically impossible for a taxpayer to explain each and every financial detail/transaction. To err is human and sometimes it is unintentional. Before I proceed, let me clarify that all the details shared in this post are based on my personal understanding of the subject. It is my own interpretation that may or may not be right. Therefore, I ... Read More
Important Points Related to Sale and Purchase of Property by NRIs
I receive a lot of queries on my blog from NRIs related to sale and purchase of property. I answer each and every query. The reason why I receive more queries from NRIs is because the rules and regulations are more complicated compared to resident Indian. There are multiple permutation and combination involved. Most of the times queries from NRIs provide me an idea for a new post on the blog :). Thanks for posting your queries. In this post, i will share important points related to sale and purchase of property by NRIs. The sale and purchase of property by NRIs is regulated under the FEMA ... Read More
To Buy Insurance or Not – The Probability of an Event Can Help To Decide
Recently I was booking an air ticket for myself. My wife insisted me to buy insurance cover for travel. I politely refused and here comes the googly. She told me "You only keep suggesting everyone buy insurance". Ohh God!! I was trapped :). I replied that if start buying each and every insurance cover under the sun then my entire income will go towards payment of insurance premium. I covered this point briefly in the post, Critical Illness Plan - Do I need it? Normally the financial planners suggest that insurance should be need based. The biggest problem is how to arrive at logical and ... Read More
Demonetization Scheme – How It Will Impact The Gold Price
Post Demonetization Scheme the maximum rumor mongering is related to the fate of Property and Gold Price. The reason being that these 2 were the most popular avenues to park the black money :). There was strong rumor that Govt is planning to limit the Gold holding per person. Later govt clarified that there is no such plan to limit the gold holding. Based on my understanding I can assure the readers that if you are holding legitimate gold then you need not worry. The only concern of gold investors is on Gold Price. Even if you are not a hardcore gold investor, financial planners always suggest ... Read More
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