Responsive & Mobile Design

Technology has come a long way over the last decade and impacted our lives in all the ways possible. Impact of such advancements may be experienced across plethora of subjects. Evolution of Technology has lead to drastic advancements in the fields of Communication, Entertainment, Lifestyle, Health, Education, Travel and Science to name a few. In Financial Services domain too Technology has contributed immensely. Taking cue from the same, SmartOwner is one such organization which has made the best possible use of…Continue Reading >

Responsive & Mobile Design

Equity Linked Savings Scheme (ELSS) is Tax Saving Mutual Fund Investment Scheme. The investment in the scheme is eligible for Income Tax Deduction U/S 80C up to the maximum limit of Rs 1,50,000/-. However, the maximum limit is inclusive of other investment schemes eligible for deduction under Section 80C. ELSS has the shortest lock in period of 3 years among other tax saving investment plans. The returns on the ELSS are market linked which is moderately volatile, but investment over…Continue Reading >

Responsive & Mobile Design

Cryptocurrency is the new craze among millennials as digitization is impacting our lives in every which way possible. Eventually leading to advent of virtual currency which is regarded to be the substitute of fiat currency (Dollars, Euro, INR, etc). However, the Virtual Currency has created a lot of buzz and concerns at the same time as dealing in digital currency which is decentralized raises regulatory issues. The peer to peer based nature of transactions eliminates middlemen but also creates probability…Continue Reading >

Responsive & Mobile Design

Government has revised the interest rates on popular Small Savings Schemes for the 4th Quarter of the Current Financial Year 2017-18. Last Year, Government had decided to align the small savings interest rates with the relevant market rates of Government Securities. The rates are now recalibrated every quarter in order to maintain it at par with the current market rates. The interest rates on Small Savings Schemes are slightly higher as compared to rates offered by Banks. The Central Bank…Continue Reading >

Responsive & Mobile Design

Inflation rose sharply as per the latest data released for the previous month. The spike is attributed to the rise in food and crude fuel prices. The data quashes any hope of repo rate cut when the RBI meets to discuss the monetary policy in the coming month, on the contrary RBI may contemplate hiking the rate. Introduction of GST may have some impact on the economy as Business houses are still in the initial phases of implementation. However, the…Continue Reading >

Responsive & Mobile Design

Gratuity is provided to Employees in recognition of their service rendered to the Organization. The minimum tenure of service to be eligible for Gratuity is 5 years (4 years and 240 days). In my earlier post I have discussed about the Gratuity Act, 1972 and the salient features of the act. Here I would discuss the calculation of Gratuity and Tax Liability on the same. Refer to the link shared below. Gratuity Act 1972 HOW DOES IT WORK? Every employer…Continue Reading >

Responsive & Mobile Design

Gratuity is a benefit extended to the Employees in gratitude of the service rendered to the Organization/Employer. Gratuity like other Statutory Benefits like Provident Fund and Pension Fund is received by the employee at the end of their employment tenure. However in the Appointment Letter, Annual Increment letter you will find CTC includes the Gratuity as well. In fact, while arriving at Cost to Company (CTC) for an employee, the gratuity is calculated as 4.83% of the Salary. Thus it…Continue Reading >

Responsive & Mobile Design

Capital Gain Capital Gain is the appreciation in value of the asset over a period of time when compared to the purchase price. The Gain is realized only at the time when the asset is sold. Any Profit or Gain arising out of transfer of capital asset held in form of investment (including real estate or stocks) is known as Capital Gain. The gain or profit is charged to Capital Gains Tax in the year the sale of asset is…Continue Reading >

Responsive & Mobile Design

Xiaomi (Mi) has announced their latest Budget end smartphone in India, earlier today. The phone is latest to join the strong budget line up for Xiaomi. Recently, Xiaomi had launched a camera centric budget phone the Redmi Y1/Lite starting from Rs 6,999/-. Mi is known for launching value for money devices in the budget segment which has helped it gain the top position in terms of market share in India. Mi India aims to expand their base even further with…Continue Reading >

Responsive & Mobile Design

Subscribers to Employees’ Provident Fund (EPF) have the option to lodge complaint pertaining to their PF account through the Online Grievance Management portal for prompt action. Subscriber may easily register their complain online and monitor the status on the portal. The process to register the grievance is very simple and easy. However, for registration of any grievance, Subscriber is required to provide their respective valid Unique Account Number (UAN). The portal provides direct platform to the Subscribers to raise their…Continue Reading >