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      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…

      Immediate Annuity Plan Can Help You Retire Rich!!!!!

      Thursday, April 21st, 2016 Amritesh no responses

      Being financially independence is a dream for most individuals.To lead a comfortable life post retirement is on everyone’s wish list. A smart way to ensure a regular income flow even after retirement is by opting for an immediate annuity plan. The amount you withdraw is tax deferred. One such immediate annuity plan that provides more benefits and options is EdelweissTokio Life – Immediate Annuity Plan. It provides various annuity options like;1.) Life Annuity with Return of Purchase Price (ROP): a.) Survival Benefit: Annuitant receives annuity payout at a constant rate throughout the lifetime b.) Death Benefit: Purchase Price will be payable to the nominee/legal heir 2.) Life Annuity:a.) Survival Benefit: Annuitant receives annuity payout at a constant rate throughout the lifetime.b.) Death Benefit: Nil 3.) Life Annuity Certain…

      Kushal Tradelink Equity: Potential Investment Option for Retail Investors

      Monday, April 11th, 2016 Amritesh one response

      Investing in Stock Market in never an easy thing to do as you have so many stocks across sectors and it is very difficult to ascertain as to how the stock will perform over a period of time. Today I will review Kushal Tradelink, a BSE Small Cap Stock which seems to be an interesting pick and Individuals may have a serious look at it as it has been doing really well over the past few months and the fundamentals also look very promising. Thereby, Retail investors may look to invest in the stock and make decent returns.The company is currently listed in BSE Index and is in process to be listed in NSE very soon.In this post, I will…

      Sector Mutual Funds: Top Performers

      Thursday, April 7th, 2016 Amritesh 3 responses

      Sector Funds is a type of mutual funds wherein the investment is concentrated in specific sector. As I have discussed previously, Sector Fund involves more risk when compared to Equity Mutual Fund as diversification of fund is restricted. Sector Fund is a decent investment option provided you have fair knowledge about the stock market and performance of sector specific funds. Sector Fund is meant for aggressive investors who are willing to take additional risk and are unperturbed by volatility of fund. Click to Read More About Sector Funds: An InsightFactors in favor of Sector Mutual Funds:Sector Fund may be a good investment option when the equity market is under performing, however some of the sectors are doing well during the…

      Sector Mutual Funds: An Insight

      Tuesday, March 29th, 2016 Amritesh no responses

      Sector Funds is mutual funds that invests in shares of companies operating in specific sectors and thus are known as Sector Funds. The fund is diversified into specific sector and its close substitutes or alternatives. The objective of the fund is to reap benefits out of potential growth in specified industry. Sector Funds are impacted more by performance of the concerned sector rather than the overall market sentiments. For instance, Banking Sector Funds will comprise of investments in Banking Stocks, while IT fund will comprise of investment in IT and Technology related entities.Click to Read More About the Top Performing Sector Mutual FundsImportant Aspects of Sector Funds:-Sector Funds offer minimal diversification of funds and is primarily concentrated on specific sector.It…

      Small Savings Schemes Rates Unchanged for Last Quarter (January-March) Of Financial Year 2016-17: Interest Rates Unchanged

      Monday, March 21st, 2016 Amritesh no responses

      Government has revised the interest rates on popular Small Savings Schemes toeing in line with the decision taken last month (February,’16) to review the interest rates on quarterly basis (instead of annual cycle) from the new Financial Year (April,’16). The decision has been taken to align the small savings interest rates with the relevant market rates of relevant Government Securities. The rates will now be reset every quarter in order to align them with the current market rates. The interest rates on Small Savings Schemes are much higher as compared to rates offered by Banks. The Central Bank (RBI) has been clamoring for revision in rates as it is leading to distortion in rate structure. Government is trying to provide…