Any parent would be worried about how the various needs for his children would be met. The list too is long; that by itself is a cause of worry. This article will look at some of the common needs for children and ways to achieve them thorough financial planning.
Under the earlier scheme, borrowers were charged fixed interest rate of 8.5 per cent for Year 2 and Year 3 for loan amount less than Rs 50 lakh (Rs 5 million) and a rate of 9 per cent for first three years for loan amount of greater than Rs 50 lakh. Year 4 onward the interest rate was fixed at PLR minus 2.75 basis points.
Under the earlier scheme, borrowers were charged fixed interest rate of 8.5 per cent for Year 2 and Year 3 for loan amount less than Rs 50 lakh (Rs 5 million) and a rate of 9 per cent for first three years for loan amount of greater than Rs 50 lakh. Year 4 onward the interest rate was fixed at PLR minus 2.75 basis points.
Sebi has done a good job on regulating mutual funds so Sebi's move to regulate ULIPs may be a blessing in disguise for ULIP investors.
From April 1, 2010, interest on all savings bank account deposits is being calculated on a daily basis, thereby earning account holdres higher interest income.
Do remember that though the banks insist that all co-owners of the property should also be co-applicants in a joint home loan, the reverse need not be true.
Here is a checklist of what you should consider when opting for a loan.
Before getting a housing loan take stock of your finances and assess your loan repayment capacity. Then shop for the best offers available. You can also approach a financial counsellor for optimum allocation and utilization of your money.
Good control over your personal finances will help you achieve the goals you have set for yourself and cope with changes in your life. How can you achieve that? The answer is having your own personalised budget.
The last few months have been action packed for insurance companies having a ULIP (unit-linked insurance plan) product in their portfolio. This, primarily on account of a cap levied by Insurance Regulatory and Development Authority on the total expenses that can be charged by insurance companies on such products with effect from October 1, 2009.
Is it ok to make tax planning investments at the end of the year? This article will address this question.
Your financial plan will set objectives for you based on your aspirations, your lifestyle, your age group, size of family, etc.
So for the time being, consumers need not worry about their EMIs on home loans, auto loans etc. going up. However, as April progresses the scenario could change.
When errors crop up due to lack of awareness you could end up evading tax unknowingly. That could turn out to be a costly mistake somewhere down the road. So be wise, get your tax facts right. Here is a quick sample checklist for you.
Tax incentives are given to encourage savings / investments. Savings form part of your overall financial plan which in effect means tax planning is a subset of financial planning. Your financial plan will set objectives for you based on your aspirations, your life style, your age group, size of family, et cetera.
Familiarise yourself with Transfer of Property Act. The rights and duties you have are outlined in the Transfer of Property Act.
As a follow on to all the articles written about Budget 2009-10, here's a review of what took place, what is still taking place and what has not taken place.
r the people in the Rs 5-8 lakh bracket, it would be advisable to invest in infrastructure bonds if the period of investment is 3 years, but not for five years and for those in the Rs 1.6-5 lakh bracket, it would be an absolute no-no to invest in Infrastructure Bonds for tax-saving purpose.
A back of the napkin calculation will tell us that people having a taxable income of Rs 500,000 will be paying a tax of Rs 34,000 in 2010-11 as against Rs 54,000 in 2009-2010. A saving of 37.04%!
With the tax planning and investment season coming to an end this month, many are running around to get the best of the plans available in the market. Most of the limit available under Section 80C would have been over by now. Are there other ways to get tax benefits from taking up useful investments/expenses? Yes, there is always the health insurance plans.
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