Besides giving good returns, small savings also offer a tax benefit says Arnav Pandya.
Getting or renewing health insurance when not young remains a problem, but there's some limited relief now.
Funds now offer themes that are based on quantitative models and profit-booking.
Taking health insurance is part of going abroad, but watch when you choose to make small claims, says Arnav Pandya.
At present, though the interest calculation is done on a monthly basis, the account holder is paid the amount either at the end of three or six months. And the balance considered while paying the interest is the lowest amount in the account between the tenth and the end of any month. The new guidelines for interest calculation on savings bank accounts will increase returns significantly for account holders.
Though gold ETFs are traded on stock exchanges, they are taxed at a higher rate.
Investment planning needs to be done at the beginning of the year.
With the financial year coming to an end, it's time to do that all important review. And there are a lot of things that need to be taken into consideration. The financial review will include investing in tax-saving instruments under different sections, tax implications of equity and debt instruments and even rejigging the portfolio to keep the asset allocation in line with pre-defined goals.
Investing in debt instruments requires careful attention.
Pension plans by mutual funds have a three-year lock-in like ELSS.
Besides portability, insurers are also planning to introduce longer- term medical insurance policies.
Some fund houses have modified the terms of their schemes. How does it impact you?
Tax-saving investments should be part of the overall portfolio, but if you haven't had the time till now, just concentrate on saving as much tax as possible, says Arnav Pandya.
In a balance sheet, it is important to look at some important numbers. Then compare these numbers with historical data. Accordingly, a clearer picture will emerge on how the company is progressing. Also, the balance sheet will talk about other important features like the company's assets like building and furniture, receivables and liabilities.
A proper mix of cover that gets tax advantage is essential to ensure that there is adequate insurance. But first, you need to identify the needs. And they will keep on changing, according to your age, dependents and other factors: Medical insurance premiums up to Rs 15,000 come under Section 80D. And life insurance premiums up to Rs l00,000 get benefits under Section 80C.
Calculating the percentage fall or gain is a wrong way of looking at numbers.
SIPs can give better returns in a volatile market because they gather more units over time, says Arnav Pandya.
The dividend yield for a stock iscalculated as the dividend per share of the company divided by the market price of the stock.
First, it is important to gauge the financial strength of the bank. Second, the period of the deposit is vital. Often, a higher rate of return is available for specific time maturities like 10 per cent for 360 days and so on. Third, the amount is important. In most cases, if the deposit is above Rs 15,00,000, the bank offers a higher than normal rate of interest. Fourth, since there can be a big difference in the various rates of interest being offered, read the fine print.
While banks may offer a good credit limit, look at your salary and needs before spending.
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