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For risk-averse investors who want to invest for their retirement, Public Provident Fund (PPF) seems to be a good choice. But considering there is a limit on the maximum amount that you can deposit in your PPF account every year, and that inflation will certainly undo part of your wealth creation effort, you need other options to augment your savings. What are the other options to earn ...
From Rat Race To Financial Freedom...
Tag :Employee Provident Fund
  February 23, 2014, 4:23 pm
First time individual home-buyers can get tax deduction on interest of home loan, under newly inserted section 80EE of the Income Tax Act, applicable for assessment year 2014-15. This is in addition to tax rebate on interest payment of home loan, under section 24. Eligibility for rebate under Section 80EE This rebate on home loan interest is applicable only for home loans satisfying the ...
From Rat Race To Financial Freedom...
Tag :Income Tax
  February 16, 2014, 5:00 pm
In the last post, we studied about the tax implications of HRA under Section 10. But this section is applicable only if the individual qualifies for HRA as per the company policies. But what if your employer does not give you HRA or you are self employed? In that case, Section 10 is not applicable for you. You can still save taxes using Section 80GG of the IT Act. Conditions of ...
From Rat Race To Financial Freedom...
Tag :Income Tax
  February 9, 2014, 8:04 am
In the absence of sufficient knowledge of key tax exemption opportunities like House rent allowance (HRA), we may end up losing out on valuable saving and investing opportunities. So, let us learn about HRA and how it helps us get tax exemption. What is House Rent Allowance (HRA) House Rent Allowance is an allowance given by an employer to an employee. The sole purpose of this is to meet ...
From Rat Race To Financial Freedom...
Tag :Income Tax
  February 2, 2014, 11:20 am
Tax free bonds have emerged as highly popular investment option among investors due to the taxation benefit that they offer. These bonds, generally issued by government backed entities, are exempt from taxation on the interest income received from such instruments under the Income Tax Act, 1961. What are Bonds? Bonds form the part of "Debt" as an asset class. This implies that the investor...
From Rat Race To Financial Freedom...
Tag :Debt
  January 25, 2014, 4:06 pm
Understanding that the Dividends paid to you are not "actually" tax free and attract hidden taxes, you can take much more informed decisions when it comes to investing for Dividend based Income. Let us understand what is Dividend Distribution Tax (DDT) and how does this understanding can help us...Read on.. What is Dividend Distribution Tax? Section 10(34) of the Income Tax Act, 1961 ...
From Rat Race To Financial Freedom...
Tag :Mutual Funds
  January 19, 2014, 1:31 pm
We recently had a wonderful and interactive workshop on Financial Freedom last Sunday (12th Jan 2014). This was organised by Sartrac Global in Faridabad (NCR). During my interaction with the audience, i realised that most of us tend to miss out on these 4 vital things in our lives..and of course, we do so at our own peril.... Just if someone could point us towards these things, life can take ...
From Rat Race To Financial Freedom...
Tag :Dreams
  January 16, 2014, 9:08 am
IRDA has formally launching the Insurance Repository System (IRS) and you can now demat your insurance policies. Here's what you should know about this new concept. READ ON.. What is an insurance repository It is a facility that allows you to hold insurance plans in the demat form. As is the case with shares and bonds, which can be held in a demat account with a depository, you can keep ...
From Rat Race To Financial Freedom...
Tag :Life Insurance
  January 11, 2014, 2:01 pm
Last time, we met a Marketing Director from Dubai, UAE : Ms Rita Cooper who is on the journey towards financial freedom now. The response to that post was overwhelming. You can read more about her journey and experience till now by clicking here. In continuation with our effort to interlock you with some common men and women who have been seeking financial freedom, today, it is a chance to ...
From Rat Race To Financial Freedom...
Tag :Dreams
  January 4, 2014, 5:05 pm
As 2013 comes to an end, it is the right time to look back at how great the year 2013 was. Many of us only look forward to new goals for the new year but fail to give a pat on our backs for the hard work and rewards that we did achieve in the year that is passing by. Here is what i have found works out the best. List down some of your biggest accomplishments in the year going by ie 2013...
From Rat Race To Financial Freedom...
Tag :Goals
  December 30, 2013, 9:25 pm
A thematic fund is a specialized mutual fund - one where the fund's objective is to deliver optimal returns by investing in stocks which qualify to belong within the particular theme that is considered. The theme could vary from multi-sector, international exposure, commodity exposure etc...read on... Unlike a sector fund, theme funds have a broader spectrum to operate in. Theme based funds...
From Rat Race To Financial Freedom...
Tag :Portfolio
  December 29, 2013, 5:58 pm
Ignorance of law is never an excuse, especially if it relates to financial ignorance. Are you wary of getting a notice from IT Dept even if you are not deliberately avoiding taxes? There are high chances, if you do not know the tax laws. But you can take certain fundamental precautions to avoid the same...read on... Background In recent months, thousands of taxpayers have been served ...
From Rat Race To Financial Freedom...
Tag :Income Tax Returns
  December 21, 2013, 4:37 pm
As you become wealthy, you must get smarter about saving taxes. If you are married, having an HUF or a Hindu Undivided Family can be a real boon. It is a safe and easy way to save tax. Lets see what an HUF is, how to make use of it and who it helps you to save tax....READ ON.. What is an HUF? An HUF, or a Hindu Undivided Family, is a separate tax entity in addition to individual persons ...
From Rat Race To Financial Freedom...
Tag :HUF
  December 15, 2013, 6:21 pm
To my NRI friends who earn money in more than one country, this post was long awaited. See how you can avoid double taxation. Read on. Background It is not unusual for a business or individual who is resident in one country to make a taxable gain (earnings, profits) in another. This person may find that he is obliged by domestic laws to pay tax on that gain locally and pay again in the ...
From Rat Race To Financial Freedom...
Tag :Income Tax Returns
  December 8, 2013, 9:03 pm
A penny saved is a dollar earned. This is how important saving a few extra rupees can be in your life. One of the prudent ways to save money is to be smart about avoiding taxes. With the right professional guidance, you can legitimately avoid paying tax on the income earned on your investments. On popular demand, this post describes some smart ways to avoid taxes and hence increase your ...
From Rat Race To Financial Freedom...
Tag :Tax Rebate
  December 1, 2013, 4:29 pm
Every penny earned as interest on your Fixed or Recurring Deposit is taxable. Most banks will pay quarterly interest on your Fixed Deposits. This interest will keep compounding. An interesting situation arises when you get into a multi year Fixed Deposit. In such cases, you really should understand what are the options to pay taxes - should you pay the interest accrued in every financial year...
From Rat Race To Financial Freedom...
Tag :Income Tax
  November 23, 2013, 8:11 pm
Fixed Deposits and Recurring Deposits are two most commonly leveraged debt based investments used by 90% of the investors in India and abroad. Off late, many of my followers have asked me various questions pertaining to the benefits of investing in either of them and what they should choose and why. So, this post is for all of them. What is a Fixed Deposit (FD) A fixed deposit (FD) is ...
From Rat Race To Financial Freedom...
Tag :
  November 16, 2013, 3:46 pm
I have experienced, as many of you would have, the painful months / years it used to take to move our EPF (Employee Provident Fund) account balance from one company to other, while keeping our fingers crossed during this long journey of money transfer. The complex forms, unsure claim settlement, a balance statement which was delayed by at least 2 years - all these are things of the past !!  ...
From Rat Race To Financial Freedom...
Tag :
  November 10, 2013, 4:09 pm
Last time, we met a CA from Bangalore, India who is on the journey towards financial freedom now - Mr. Sailesh Damani, The response to that post was overwhelming. In continuation with our effort to interlock you with some common men and women who have been seeking financial freedom, today, it is a chance to meet a Marketing Director from Dubai, UAE : Ms Rita Cooper. I have tried to mentor ...
From Rat Race To Financial Freedom...
Tag :
  November 7, 2013, 3:52 pm
REITs (Real Estate investment Trusts) first originated in the United States. REITs were created in order to give all investors the opportunity to invest in large-scale, diversified portfolios of income-producing real estate in the same way they typically invest in other asset classes – through the purchase and sale of liquid securities. See whats happening in India on the REIT front now a ...
From Rat Race To Financial Freedom...
Tag :Portfolio
  November 2, 2013, 4:23 pm
The debate about physical gold versus gold exchange-traded funds, or ETFs, was settled in favour of the latter a long time ago. Now, e-gold, another product that gives exposure to the gold market, is laying claim to the crown. But before you take a plunge with your investments, make sure you understand the pros and cons about each one of them. What is e-Gold? E-gold, an electronic ...
From Rat Race To Financial Freedom...
Tag :Mutual Funds
  October 27, 2013, 7:06 pm
As i go about living my dream of transforming lives of thousands of people by enabling them to plan their financials well, many of the non resident Indians (NRIs) have come back and sought more details on the investment options available to them. Through this post, i am trying to list down the investment avenues available for NRIs. As i have been advising throughout all my interactions, no ...
From Rat Race To Financial Freedom...
Tag :
  October 23, 2013, 2:59 pm
Well, it has been almost 6 months since so many of the financial freedom seekers have connected with me one-one over telephone and email, and shared their life's situations, dreams and also their financial portfolios. I have tried to mentor them to build a financial freedom plan of their life. This monthly track-able plan, once executed, has the potential to bring them out of the rat race and...
From Rat Race To Financial Freedom...
Tag :Rat Race
  October 20, 2013, 12:08 pm
The Economic times, one of the most sought after financial newspapers in India, was kind enough to honor me with the "Financial Wizard of the week" for giving a "seemingly" wise solution to one of their reader's financial situation.... read on... This was published in the recent edition of the "ET Wealth" magazine published by "The Economic Times" for the week October 14 to 20th, 2013.  ...
From Rat Race To Financial Freedom...
Tag :Book
  October 17, 2013, 6:40 pm
It does not happen by fluke. With more than 100+ Reviews on the Freedom Portal and 30+ reviews on Flipkart, an average rating of 4.8 stars out of 5, thousands of followers, being ranked in Top 5 and Top 10 in India for almost 3 months at a stretch now - all this does not happen just by chance...and there are lot of life lessons i have learnt during this 5 month journey of my book. Want to ...
From Rat Race To Financial Freedom...
Tag :Financial Freedom
  October 9, 2013, 8:27 am
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