To align with the objectives of the ‘Beti Bachao Beti Padhao’ campaign, Prime Minister Narendra Modi launched the Sukanya Samriddhi Yojana (SSY). It is a government-backed small savings scheme that enables parents to secure the financial future of their daughters. You may open an account with an authorized private or
The Government of India has proposed to exempt senior citizens having only pension and interest incomes from filing income tax returns (ITRs). However, the newly added Section 194P of the Income Tax Act, 1961 requires banks to deduct taxes on senior citizens aged over 75 years earning pension and interest
Although there are several precious metals, gold is one of the most preferred metals in the country. For Indians, gold has more than just an investment value, and traditionally, most people bought this precious metal in the physical form, such as jewellery , coins, or bullion.ve Investing in gold is
You must invest your money to ensure a stable financial future. You may choose from different types of financial instruments to put your money in. An investment portfolio is the collection of various products like stocks, mutual funds, bonds, fixed deposits, cash, and other assets. Read on to know everything
Albert Einstein said, ‘Compound interest is the eighth wonder of the world. He who understands it, earns it, he who doesn't, pays it.’ So, the compounding effect on a regular investment of a small amount over the long term can help you to accumulate a large corpus. Often, many individuals
Portfolio diversification across different financial products helps mitigate investment risks. You may invest in different asset classes, such as debt, equity, gold, real estate, and others. Furthermore, you may pick from different products within the various asset classes. If you invest in equities, choosing shares of different companies with varying
Equity-Linked Savings Scheme (ELSS) is an open-ended diversified equity mutual fund plan that provides the opportunity to earn higher returns on your investment along with tax benefits. Read on to know more about this scheme. What is ELSS?ELSS includes diversified equity funds that invest most of the corpus in
Indian taxpayers may miscalculate their taxes and end up paying more money than they owe to the Income Tax Department. Luckily, if you overpay your taxes, you are eligible for an income tax refund. When that money hits your bank account, it is an exhilarating feeling. You can choose to
The Employees’ Provident Fund (EPF), commonly known as Provident Fund (PF) is an investment cum savings option that eligible companies offer to their employees as a retirement scheme. The employees invest 12% of their basic pay in the EPF each month, and the employers contribute the same amount to the
