Your Aadhaar card is gaining greater and greater prominence in your everyday life. You need Aadhaar card to open bank accounts and make mutual fund investments. You need Aadhaar card to file your income tax returns. You need Aadhaar card to take benefit of various Government Schemes (say LPG subsidy). Therefore, it is critical to keep the information in your Aadhaar card … [Read more...] about How to Update Information in your Aadhaar Card?
In October 2017, SEBI announced multiple mutual fund categories and announced that each fund house could have just one fund in each category of fund scheme. An important announcement: www.PersonalFinancePlan.in has been chosen as one of the Top 25 blogs for mutual fund blogs by FeedSpot, a RSS reader Though such rankings shall always be taken with a pinch of salt, it is … [Read more...] about Categorization of Mutual Fund Schemes by SEBI
In this post, I will discuss an aspect of NPS about which I have received quite a few queries. What to do if you have two NPS accounts? Based on the number of queries that I receive on the issue, having two NPS accounts is not very uncommon. They got one through their employer. Subsequently, when they read about exclusive tax benefit of Rs 50,000 for investment in NPS Tier-I … [Read more...] about What to do if you have two NPS accounts? How to close the second NPS account?
When you are starting your professional career, the excitement of getting the first salary credited to your bank account is palpable. However, the difference between expected credit and actual credit can many times leave you puzzled. The difference is due to income tax. It is correct that you cannot save taxes beyond a point. However, by planning your taxes properly, you can … [Read more...] about Primer: Income Tax Calculations for Beginners
In an earlier post, I had shown how to purchase mutual funds units and create SIPs on MF Utility online portal. Once you have set up a SIP on MF Utility, it is possible that you may want to cancel the SIP for any reason. How do you do that? How to stop SIP on MF Utility website? Frankly, under MF Utility, the procedure for cancellation of SIP is quite confusing and is not … [Read more...] about How to stop SIP on MF Utility website?
Quite a few readers have approached me to ask the best way to invest in direct plans of mutual funds schemes. I also wrote a post on direct plan platforms that are presently available (do not claim it to be a holistic list). Many want to know the best direct plan platform. Frankly, I do not know the answer myself. Read: List of Online Direct Plan Platforms in India Since most … [Read more...] about The Paranoia surrounding Online Mutual Fund Direct Plan Platforms
In an earlier post, I had discussed how you can open NPS account online using your Aadhaar card. In this post, we will look at how you can contribute your NPS account online. If you have opened your NPS account through a bank or any other Point of Presence (PoP), you can simply make a contribution online from the net-banking portal. Alternatively, if you have opened through a … [Read more...] about How to invest in NPS account online?
Are you struggling to get a loan because of a poor credit score? Well, you are not alone. A large number of people have to go through a tough time trying to get a loan without a good credit score. Many people give up when they find out that their score is below-average. However, truth is that you can always improve your score, no matter how bad it is. If you want to improve … [Read more...] about How to improve your Credit Score?
LIC has come out with a new packaging. The reason I say this is that the product is not too different from older ones but comes with a new name. The plan was launched early September 2017 and will be available for 270 days from the date of launch. Why? I have no clue. In my opinion, it is a marketing gimmick. Scarcity may shore up demand. As I have mentioned before, I have … [Read more...] about Stay away from LIC Jeevan Utkarsh
Now, you need to link your Aadhaar Card to your Mutual fund investments. Surely, there are multiple ways of doing this. You can submit physical forms along with your Aadhaar proof at Registrar & Transfer Agent offices (CAMS, Karvy etc). You can also submit forms at AMC offices. If such forms are not already available, then these forms will be made available in a few … [Read more...] about How to Link (update) your Aadhaar Number to Mutual Fund Investments Online?