LIC has recently launched a new moneyback plan: LIC Bima Shree (Plan 848). The plan is quite similar to LIC Jeevan Shiromani, that was launched a few months back. There are only a few differences (or those that I could see). LIC Jeevan Shiromani has an inbuilt critical illness plan. LIC Bima Shree does not have it. With LIC Bima Shree, you can purchase critical illness … [Read more...] about LIC Bima Shree (Plan no. 848): Middle class’s LIC Jeevan Shiromani
The process of setting up SIPs at MF Utility just got simpler. MFU has introduced an online PayEezz registration feature “ePayEezz”. Not only can this feature do away with the need for physical forms but also reduce the registration time from a few weeks to a couple of days. What is PayEezz? PayEezz is one-time ECS/NACH mandate form that you give to MF Utility. With this … [Read more...] about MF Utility: How to set up PayEezz mandate online (ePayEezz feature)
If I were to ask you to add 17 five times, you would swiftly do the calculations in your head and give me the answer “85”. It is easy to add or multiply smaller numbers. 17+17 = 34 + 17 =51 + 17 =68 + 17 =85 However, if I were to ask you to, “What is 17 raised to the power 5?”, would you be able to answer this question without a calculator or at least pen or paper? As a … [Read more...] about Don’t let the numbers fool you
Many financial advisors ask clients/friends/family to purchase health insurance plans at an early age. The reason is that you are able to lock-in your health conditions. Any illness that happens after your initial purchase of plan does not affect your insurance premium. Therefore, purchasing health coverage at a younger age may help keep your premiums low at an old … [Read more...] about How Health Insurance Companies can easily trick customers?
We have already seen how to link your Aadhaar number to your Mutual fund investments. If you have not linked Aadhaar number to MF investments yet, you can go through this post and update your Aadhaar number in your MF investments within a few minutes. Read: How to link Aadhaar number to your MF investments? However, there is one problem. The linking does not happen … [Read more...] about How to check your Mutual Fund-Aadhaar Card linking status?
There are not many things I dislike more than policy flip-flops. You cannot make a decision if the Government, bureaucracy or the regulator is trigger happy. Something similar has happened to policy on NRIs holding PPF accounts. Add to that, incompetence and non-customer-centric outlook of many bankers, the misery of an honest taxpayer and investor can only compound. In its … [Read more...] about NRIs need not close their PPF account, atleast for now
Budget 2018 introduced Dividend Distribution tax on dividend from equity mutual funds. In one of my earlier posts, I had highlighted how mutual fund houses are misguiding investors and convincing investors to invest in dividend plans of mutual fund schemes. Dividend schemes never made for a good choice in case of equity funds. In this post, we will look at the reasons. … [Read more...] about Do not invest in Dividend Schemes from Equity Mutual Funds
Budget 2018 proposed long-term capital gains tax on equity investments. The very next day, the insurance companies were out with advertising campaigns highlighting the tax advantage of ULIPs over mutual funds. Well, mutual funds and ULIPs compete for investor money. And it is not unfair on the part of insurance companies to highlight any demonstrable advantage that they may … [Read more...] about After tax on LTCG, are ULIPs better than Equity Mutual Funds?
Long-Term Capital Gains on sale on equity mutual funds and listed shares was proposed in Budget 2018. I have discussed the proposal in an earlier post. In this post, let’s look at the actual impact (in numbers) because of the introduction of tax on long-term capital gains. LTCG on sale of equity shares/equity mutual funds From FY2019, the long-term capital gains (holding … [Read more...] about Impact of Tax on Long Term Capital Gains on Returns: Explained with Examples
Here are the key highlights of Budget 2018: Income Tax Slab rates have not been changed (Income Tax slabs for FY2018-2019) Income Tax Slab rates remain the same as for FY2017-2018. Introduction of Standard Deduction of Rs 40,000 (Good) This replaces medical reimbursement and travel/conveyance allowance. At present, you can get medical benefits reimbursed from … [Read more...] about Budget 2018: Key Highlights and the Income Tax Slab Rates for FY2018-2019