Financial Planning

Investment limit on infrastructure bonds may rise to Rs 50,000 NEW DELHI: The government is considering more than doubling the investment limit in infrastructure bonds eligible for tax rebates as part of a strategy to provide a funding boost to a vital sector while having a beneficial effect across the economy. Officials told ET the finance ministry's department of economic affairs, as part of its suggestions for the 2012-13 budget, had proposed raising the investment limit in these bonds to Rs 50,000 from Rs 20,000 now. The revenue department is expected to take a final decision after weighing expected economic gains against short-term revenue losses. Source :- Economic Times http://articles.economictimes.indiatimes.com/2012-01-27/news/30670455_1_tax-free-bonds-infrastructure-bonds-investment-limit - Manan Mankad Read Personal Financial Article on : www.mananmankad.blogspot.com follow us on twitter : www.twitter.com/mananmankad Like us on Fac...

PPF Eligibility- Individuals, individuals on behalf of minor  Min- Rs 500 per annum in multiples of 5 Rs 1,00,000/- per annum (wef from : 1 st Dec,2011) Duration- 15 years, can be extended for one or more blocks of 5 years. Account can be discontinued but the repayment of subscription and interest will happen only  after 15 years. Rate of Interest – 8.6% pa, credited in the account on the 31st of march and calculated on the minimum balance between 5th Day and the end of the month. Loans – During the third to sixth year the account holder can avail the facility of loan of an amount not exceeding 25% of the balance standing to his credit at the end of the second financial year immediately preceding the year of loan application. The principal amount of loan under the PPF scheme is required to be paid either in lump sum or in monthly installments within a period of 36 months. After the principal amount is repaid the interest is to be paid in not more...

Financial Planning Awareness: Rising Interest Rate…How It Impact on your budget : RBI is constantly raising interest rate since a year. Inflation has become so scary for middle class people, and if one is paying a housi...

RBI is constantly raising interest rate since a year. Inflation has become so scary for middle class people, and if one is paying a housing loan EMI under a floating rate, the EMI’s are going up too creating a picture scarier. Some suggestions to cope up with this issue are:- As Festival seasons are around like Diwali & Christmas thereafter, look at your family budgets and actual expenses occurred or going to occur, cut down on unnecessary expenses, this is the right time to write your expenses and record it on daily basis. There are so many offers and discounts offered by Consumer good companies and electronic companies this festive season. (If not necessary) Try to get out of this mouth watering offers on LED’s & changing your old car to the newer one as it will increase the burden on your Monthly Budget by paying an EMI towards it. Pay by Cash / Cheque or by Debit Cards Instead of Credit Cards, this will automatically limit your expenses ...

Spending Money (Everyone’s Favorite Activity)   STOP SPENDING MONEY –  We will here talk about spending money….Spending that too when we don’t have to….we are talking about the psychology of managing money/cash, and the amount of cash spending started by India’s youth now a days. We actually don’t realize that spending cash i.e. purchasing products or services are purchased under different reasons, most of the time whatever things/products or services we buy….its just because of our feeling (a feel good factor within us). This type of feeling & satisfaction on spending, leads to short fall of CASH. Sometime spending too much on unnecessary products & services don’t allow us to pay off our debt…or in other words “we don’t get debt free”. We all have rainy days; a lot of people among us feel so empty and feels low self-esteem because sometime we spend a lot on unnecessary things. Once we truly follow this and understand the emotions ...

Check your Employees Provident Fund (EPF) Balance Online  http://epfoservices.in/epfo/member_balance/member_balance_office_select.php For transferring the Provident Fund account of a member from one establishment to another establishment covered under the act / scheme http://www.epfindia.com/downloads_forms.htm m2(money.manage) manan mankad