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      Kisan Vikas Patra (KVP): Features, Benefits & Drawbacks

      Saturday, April 15th, 2017 Amritesh 2 responses

      Kisan Vikas Patra (KVP) scheme was re-launched by the Government very recently (2014). The scheme is mainly targeted at the group who does not have means or access to other financial investment options. The features offered is mostly similar to other Savings Scheme offered by the Government but with some tweaks in the rate of interest, tenure and some other features. The Investment doubles on completion of tenure. Although it does not provide any Income Tax deduction and even the interest earned is Taxable. It may be an Investment option for individuals who are looking at secured returns on Investment and people looking beyond National Savings Certificate (NSC) and Public Provident Fund (PPF). Please read the comparison in the link…

      Tax Saving Investment Options For The Financial Year 2017-18

      Sunday, April 9th, 2017 Amritesh no responses

      The New Financial Year is here and I’m pretty sure that most of you have started with your investment/tax planning for the year. The Investment Schemes discussed here can provide you with maximum tax saving Under Section 80 (C) of Rs 1,50,000/-. Please refer to the links shared below to read in details about the schemes and benefits offered. I will be discussing the some of the notable investment options available under various Sections in my upcoming post for the Financial Year 2017-18. However, in this article I will restrict only to investment options which offer decent returns under section 80C. Do subscribe to my Wealthtech Speaks Blog and Youtube Channel for more updates. The Investment schemes “Header” are hyperlinked…

      National Savings Certificate (NSC), Equity Linked Savings Scheme (ELSS), Public Provident Fund (PPF): Choose The Best

      Friday, April 7th, 2017 Amritesh 2 responses

      FEATURES NSC ELSS PPF Tax Benefit U/S 80C Up to Rs 1.5 lacs       Up to Rs 1.5 lacs Up to Rs 1.5 lacs Minimum Contribution Rs 100 Rs 500 Rs 500 Return on Investment 7.6% Variable 7.6% p.a Tenure 5 3 years 15 years Tax on Return Taxable Tax Free Tax Free Maximum Contribution Limit No Limit No Limit Rs 1.5 lacs Tax on Interest/Return Taxable Exempted Exempted Risk Nil Moderate Nil In the above chart you will see the comparison between National Savings Certificate (NSC), Public Provident Fund (PPF) and Equity Linked Saving Scheme (ELSS). But I will also discuss some more points about the respective investment options so that you can chose the best investment for yourself. Also…

      National Pension Scheme (NPS) : All Citizen Model (Series-1)

      Wednesday, April 5th, 2017 Amritesh 3 responses

      National Pension Scheme (NPS) was introduced by the Government of India in 2004. The scheme is aimed at the providing financial security to individuals post retirement. The Scheme has been opened for all the citizens since 2009. The scheme is designed to maintain a balance between return and risk, so that Individuals are protected from adverse market scenarios and also are able maximize their investment. I have posted about the National Pension Scheme (NPS) in a nutshell previously. You may visit the link below to find out more: EPS vs NPS vs APY: Comparison National Pension Scheme National Pension Scheme (NPS): Benefits and Drawbacks (Series-2) In this post, I will discuss about the National Pension Scheme (All Citizen Model) in…

      Tax Saver Term Deposits: All You Need To Know

      Wednesday, March 29th, 2017 Amritesh no responses

      Tax Saver Term Deposit is the Fixed Deposit Scheme which is eligible for Tax Deductions Under Section 80C up to maximum limit of Rs 1,50,000/- . The minimum lock in period for the investment is 5 years. The e-Term Deposits makes it possible for the investors to make online investment, thus any individual using internet banking can make the investment from the comforts of his/her home. Features of the Term Deposits Maturity period for the Investment is 5 years. Maximum Tax Deduction available is Rs 1,50,000/- which is inclusive of all other investments U/S 80C. Return on Term Deposit is not tax free, implying that investment in scheme is eligible for Deduction, but the interest earned on the investment is…

      Applicability of Tax on Retirement Benefits

      Sunday, September 4th, 2016 Amritesh no responses

      Employees receive monetary benefits at the time of retirement. Such benefits are taxable under the head, “Salaries” as it is profits paid in lieu of salary. Certain tax exemption wholly or partially is also granted on such benefits under the Income Tax Act, 1961. Tax exemption is available U/S 10 of the Income Tax Act. The exemption granted may be wholly or partially depending on the nature of benefit. These tax exemptions are provided on retirement benefits to reduce the financial burden. Furthermore, these financial benefits are for Individuals to sustain themselves and lead a comfortable life when they are no longer employed.   Employees’ Provident Fund (EPF)   Employees’ Provident Fund (EPF) is the lumpsum benefit paid to the…

      Life Insurance Plan: Why is it not a good investment option?

      Tuesday, August 16th, 2016 Amritesh no responses

      In the past, I have highlighted the fact that Life Insurance plans are not the best investment option. However, Many Investors still prefer investing in Traditional Life Insurance Plans primarily due to the endowment/money back (Maturity cum Death Benefit) nature of the plans. It is the guaranteed maturity benefits and low risk involved which makes it popular investment product. Life Insurance as the name suggests is primarily designed to provide insured’s dependents with a financial protection incase of unfortunate event of former’s death. Traditional Insurance Plans provide death benefits as well as maturity proceeds on successful completion of tenure (subject to one occurring earlier) and hence are also known as Assurance Plans. In my opinion Pure Insurance policies like Term…

      BFSI Website – Which One is the Best?

      Sunday, July 17th, 2016 Amritesh one response

      The internet has made the world a smaller place. Most of us spend time on social media platforms and mobile apps. Calling, messaging, viewing content and shopping everything is done online.  Like every other product, even the BFSI sector has extended their services online. While banks were the first movers, insurance is not behind. The financial sector does not only provide services online but they have also optimised their websites and communication to cater to the needs of their audience. One such company is EdelweissTokio Life, they recently launched their new website. The news was trending on twitter at number one position.  The new website was appreciated by most people online.This instigated me to go and check out their website.…

      Exide Life Income Advantage Plan: Save, Earn and Be Insured

      Thursday, June 9th, 2016 Amritesh no responses

      Exide Life Income Advantage Plan is a customizable savings plan which offers you with Guaranteed Income and Insurance cover under the same plan. The plan primarily aims at providing additional income option to meet future financial requirements. It is a Traditional Participating Insurance Plan which will provide you with regular payouts in the latter half of the policy tenure while you need to pay the premium only during the 1st half of the policy tenure.It is an ideal plan for individuals who are looking for an Insurance cover along with an additional income to meet future goals such as Child Education expenses or to take better care of your loved ones. The Cost of Living is always on the rise…

      Annuity Plans: Is It A Good Investment Option?

      Sunday, June 5th, 2016 Amritesh no responses

      Annuity Plans is a financial product offered by the Insurance Companies in India which provides regular income to the Annuitant (Annuity Purchaser) on payment a certain sum upfront (either in lumpsum or in installments). It is primarily a pension plan which ensures that Individual don’t run out of financial resources post their retirement and also provides additional cover just in case they outlive their savings.Annuity Plans aim at providing financial security when the earning potential has shrunk and one needs resources to sustain themselves and their dependents. Hence, Insurance Companies offer Annuity Plans which provide periodic payments which is a kind of pension/income to meet one’s expenses. However, despite the plan sounding so good theoretically it is not the same…