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Few Things To Know About Financial Year End

What is financial year end? In India, the government’s financial year runs from 1 April to 31 March. It is abbreviated as FY17. Companies following the Indian Depositary Receipt (IDR) are given freedom to choose their financial year. For example, Standard Charterer’s IDR follows the UK calendar despite being listed in India. Companies following Indian fiscal year get to know their economical health on 31 March of every Indian financial or fiscal year. The current fiscal year was adopted by the colonial British government in 1867 to align India’s financial year with that of the British Empire. Prior to 1867, India followed a fiscal year that ran from 1 May to 30 April. A fiscal year (or financial year, or sometimes budget year) is the period used by governments for accounting an...

Retirement Planning – Not Something That You Defer

Retirement – will mostly happen someday or the other.  But have we done our work on that? Can we do anything to increase the retirement incomes & savings? Yes, we can!  No matter where we are on the road to retirement, we have three tools at our disposal:  Save More Increase your savings rate. Save more while you can. Keep increasing the savings basis your increase in income.  It will surely show you the results in the future.  Time Is Precious – Use It Wisely The new workforce generation may think they have a long time to save for retirement, but, as an old adage says “The early bird always catches the worm”, starting to save late wastes one of the most important assets, ie, time. Time helps investments do their work by compounding returns & growing the wealth. With changes in hea...

This Holi, Add Right Colours To Your Wealth!

This Holi, Add Right Colours To Your Wealth And here comes the most awaited day of the year. It’s Holi! So, what plans do you have for celebrating this festival of colours? Are you ready with the set of different colours, sweets and other things that you would require to play Holi safely? Of course, you would be, as you waited for a complete year to celebrate this day. Holi is considered the festival that brings colours to the life. But do you know you can add those brightening and lovely colours to your investments as well? Let’s have a look which colours you can add to your .This Holi, don’t just add colour to your life. Take a step ahead and add some vibrant colours to your financial portfolio. Similarly, if we want our investment portfolio to paint a happy picture, we must give it a go...

The Master Key For Your Financial Plan: Womens Day Special!

We all look up to strong, independent women. But how do we become one ourselves? Its easy to give in to feelings of self-doubt and back down from challenges. But that’s certainly not what being a strong woman is all about.We all know we’re different from men in some fundamental ways. But is this true when it comes to financial planning? In a word, yes. In the financial world, we often find ourselves in very different circumstances than our male counterparts. Everyone wants financial security. Yet we often face financial headwinds that can affect our ability to achieve it. CHALLENGES FACED BY WOMEN IN FINANCIAL PLANNING: Financially speaking,  women have longer life expectancies. Women live an average of 4.8 years longer than men. A longer life expectancy presents several financial challeng...

Stay Aware Of these New Charges Levied on Cash Transactions

The intent being made clear to promote the usage of a digital platform Pan India with cashless transactions earlier today the banks have come to consensus in order to put a ceiling for third party cash transactions at Rs. 25,000 per day. The decision was made to discourage customers not to engage in cash transactions. After four free cash transactions that include cash deposits and withdrawals every month this charge would be levied and also become applicable on both a savings as well as a salary account starting March While cash handling charges would be discontinued for the third party cash transactions that have been capped up to a limit. Up to a period of one month people can withdraw or deposit up to Rs. 2 lakh from their savings or salary accounts through their home branch. If the am...

Have You Started Your Financial Planning?

We all have dreams, be it owning a car, a house, child attending a prestigious college or building a healthy retirement corpus. But we seldom pen down these goals and work towards a plan for achieving them. These can be termed as your life goals. And that is where the importance of a financial plan comes into the picture.  Financial planning is a process of determining your financial goals with the help of  available resources in a period of time. Financial planning involves wealth management , tax planning , estate planning, retirement planning ,investment planning , insurance planning and cash flow planning.   Need For Financial Plan : A financial plan Helps you to make the right investment decisions which helps you to grow your money A financial plan gives you a clear picture of how muc...

Valentines Day Special

Valentine’s Day is probably celebrated almost everywhere in the world today. This is a day which is celebrated not only by couples but anyone who is in love , who has feelings , who cares and who has a rich bonding with anything and everything . It can be a bond shared between a dog and his master or a bond between a toy and a child . Love is also another name of care, because when we care we protect them , when we protect we invest time in them. So what are your plans for this Valentines Day? What has your girlfriend demanded this time? Oh! Your wife must be expecting a diamond ring isn’t it? Valentine’s Day is one of those golden opportunity days each year where a little effort goes a long way. So why not make these efforts from day one . Here are few tips to make this day a Hassel free ...

Avoid These Mistakes To Help Money Grow Through SIP

Consistency, Perseverance and Patience are the three main objectives of investing in mutual funds – growing money through SIP. Systematic Investment Plan – Investing small amounts on a regular basis i.e. every week or every month. Instead of investing a lump-sum amount one can opt for SIP as another way of investing their amount and build wealth gradually Most people think mutual fund investment is one-time activity which is a wrong notion. Usually mutual fund investment (SIP) are made with a long term purpose in mind. In most cases, investors choose fund on the basis of risk profile, returns and tenure requirement. Investors have to assess the details, else there is a great chance of losing the capital invested into market. Mistakes that the investors should avoid while doing ...

Highlights of Budget 2017

Here are the key Features of Budget 2017-2018,  Total Budget of ₹ 21.47 Lakhs crores for 2017-2018  Micro-irrigation fund with Rs 5000 crore corpus  Prime Minister Gram Sadak Yojan – Rs19,000 crore allocated; along with states, Rs27,000 crore     will be spent in FY18  Pradhan Mantri Awas Yojana: Rs23,000 crore allocated  Fiscal Deficit pegged at 3.2% for the financial year 2017-18 and 3% for financial year 2018-2019  Cash transactions above 3 lakhs is not allowed  Transparency in political party funding – A political party cannot receive a sum exceeding Rs        2000 from an unknown source. They can receive money only through cheques, digital modes or    RBI El  The limit on donations to charitable institutions cut to Rs 2000.  Not many changes to excise duties since GST w...

Tips To Steer Through Budget 2017

The Finance Ministry is all set to present the Annual Budget on 1st February 2017. Everyone is eagerly awaiting the Finance Ministers speech and there has been a lot of speculations regarding the outcome of that speech. Demonetisation had caused Nifty to sink to 7900 points but the market has recovered since then. The fate of this recovery will again depend on the result of the budget. There is an expectation of a positive impact to counter the negative effect of demonetisation. Many investors alter their portfolio by speculating on what may be the possible outcome of the Finance ministers plan. This is not a wise thing to do as the fundamentals of financial planning and investing – Stick to a log-term plan. Since there are many speculations it is not a good decision to change positions in...

New Job? Things You Need To Know About Saving Tax And Investing Your Money

One of the most elated aspects of your first job is living life on your own money but fresher’s need to realise the importance of financial viability and the tips and tricks to handle  your money through saving and investing. Well, first of all you won’t be having too much tax deduction depending on your salary if being fresher. Also you can produce rental receipts and exempt your most of your tax once produced to your HR. There are several other investment options which you can perform to save tax namely PPF, ELSS and NSC can be used as a tax saving investment by people looking for fixed and secured returns. An investor who is also looking for creation of wealth can opt for mutual fund schemes that invest in the equity and equity related instruments. ELSS schemes are ideal in such cases. ...

Why Should You Insure?

To insure is to protect or secure oneself from a possible contingency. The future is very unpredictable and unless you have a time machine or you can foretell future events like Nostradamus you cannot know what will happen tomorrow. The upcoming event may either be beneficial or it may unfavourable. While the favourable circumstances are always welcome, we cannot skip or escape the unfavourable event as there is no way to prognosticate its occurrence. The best thing we can do is be prepared for such loss bearing circumstances – Insure yourself. Insuring is the second step in the achievement financial self-sufficiency after saving – We save for a possible contingency. The money saved is used when the contingency arises. The concept of using one’s own money that was saved to cover a possible...

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