Every month your employer will deduct tax from salary and deposit it to the government account based on your IT declaration submitted to them. While calculating tax, your employer consider those declared investments and expenses that are specifically either tax exempted or on which deductions are allowed under IT Act. At the beginning of the year or while joining the company … [Read more...] about IT declaration – Proofs to be submitted to your employer
How to choose an investment option for your future
You can start investing to secure your financial future. This can be done by formulating your own plan of investment and familiarizing yourself with the options available. Today, through this article we will show you how one can choose the best investment option for his or her future. In the initial step of investing you should know your financial goals first. If you have … [Read more...] about How to choose an investment option for your future
How to set financial goals for your future
Goals are incredibly important. To achieve financial success you need to set your own financial goals first and then take time to work towards them. The most important step towards achieving financial goal is to translate financial needs into your own term. Unless we commit ourselves and preserve to achieve our financial goals, they don’t occur in reality. To set goals … [Read more...] about How to set financial goals for your future
5 factors to consider while choosing life insurance policy
Accident and illness happens in life. Having insurance policy for your life and health is one of the best ways to make sure that you and your family members are secured for future financial risk. If you want to build a financial portfolio for secured future then insurance policy is a must to include in it. However, the key issue is getting the right insurance policy based on … [Read more...] about 5 factors to consider while choosing life insurance policy
What is electronic fund transfer in India
Electronic fund transfer means you are transferring money from your bank account to someone else bank account electronically. Earlier we use to visit a branch for sending money, depositing cash or cheques. Now those days are gone. Today, we are talking about NEFT, RTGS and IMPS which enable us to exchange funds between friends, family members over internet. Let us understand … [Read more...] about What is electronic fund transfer in India
5 best accounting software for small businesses in India
Best accounting software keeps your financial data organized and provides more accurate information anytime when you need it. In India we have many accounting software for business use. For small business, it’s not required to have a complex ERP package. The thing that is required to know is how your money has been spent and how much revenue you have generated for a … [Read more...] about 5 best accounting software for small businesses in India
8 things one should understand before applying for a home loan
Most of the home loan applicants come to know about the requirements and terms after applying for it. Let us look at some of the most important terms that the applicant should know before applying for a home loan. In this article we have tried to clear some of your doubts on various terms that are used in home loan. Principal Amount It’s the home loan amount which bank … [Read more...] about 8 things one should understand before applying for a home loan
Partnership firm or private limited company – which one is better to start with
If you have more than two persons to start an organization then you can select either of the two form of business i.e. partnership firm or private limited company. If you are alone and do not have any one to join in then go for sole proprietorship business which does not require any registration to start. With more than one person, you can go for either of the two. To get … [Read more...] about Partnership firm or private limited company – which one is better to start with
Fixed or Floating interest rate – Which one to select for your home loan
Interest rate is the most critical part of your home loan as it determines the cost of borrowing. While taking home loan, you may required to decide between fixed and floating interest rate that your bank offer. You need to do proper homework before rushing into bank for a home loan. Choosing the best option out of these two is always a complex matter. Let us discuss both … [Read more...] about Fixed or Floating interest rate – Which one to select for your home loan
Prepayment of your home loan – To prepay or not to prepay
In India, home loan is usually the biggest debt that a common man takes on during his/her lifetime. When you pay off your home loan either entirely or in part before the defined due date, it will be called as prepayment. By choosing the option of periodic prepayment you can reduce your principal amount by which your interest amount on home loan will also reduces resulting … [Read more...] about Prepayment of your home loan – To prepay or not to prepay