Each one of us has financial needs and goals. Once the goals are identified, we need to set goal values (targets). This means that we should be in a position to convert the needs / goals into financial terms. To do this, we should be aware of and understand the most important aspect of ‘Financial […]
Archives for June 2015
New ITR Forms AY 2015-16 : Which ITR form should you file?
New ITR forms AY 2015-16 are now available on Income Tax Department’s website. You can now file/e-file your Income Tax Returns for the Assessment Year 2015-16 or Financial Year 2014-15. In addition to ITR-1, ITR-2 & ITR-4s, a new form ITR-2A has been introduced. It is an extended version of ITR1 and a trimmed version […]
Understanding your Form 16 & other Tax related forms (Form 16A & Form 26AS)
If you are a salaried person, I am sure you would have received your Form 16 by now. This document is issued by the employers every year. It is very important to understand the details given in Form 16. Understanding the content of Form-16 helps you file your I-T returns easily. So, what is Form […]
How to claim Insurance Benefits under PMJJBY & PMSBY Govt Insurance Schemes?
The central government has recently launched two special insurance schemes – PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) & PMSBY (Pradhan Mantri Suraksha Bima Yojana). It has been estimated that around 10 crore people have already subscribed to these Social Security Schemes. PMJJBY is a Life Insurance coverage plan (like a Term plan). This plan […]
EPF Partial Withdrawals / Advances : Details, Rules & Guidelines
TDS (Tax Deducted at Source) is applicable on pre-mature EPF (Employees Provident Fund) withdrawals of Rs 50,000 or more with effective from June 1st, 2015. Also, EPF withdrawals are liable to income tax if withdrawn before five years of service. You are actually allowed to withdraw (legally) only if it has been more than two […]
Life Insurance & Married Women’s Property Act (MWP Act) – Details & Benefits
We buy Life insurance cover to protect ourselves and our family members in case of any unfortunate event. We are also aware that an individual needs to buy adequate Term Plan if his family members are dependent on him / her. Let’s consider a scenario – Mr. Agarwal is a businessman and borrows some capital […]
