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Just a disclaimer here – “I am not a proponent of taking out loan in any form or for any purpose”. But the purpose of this article is to give some light to the readers on how tax deductions that come with education loan repayments, which makes these loans somewhat attractive. Higher studies are an …
It is usual for parents to invest in their minor kid’s name, whether it is through a fixed deposit (FD), stocks, an insurance policy, or the Sukanya Samriddhi Scheme for a female child, etc. But what if any of these assets generate income, such as interest on a fixed-term deposit? So, let’s quickly look at the tax consequences for …
National Pension System (NPS) provides Systematic Lump-sum Withdrawal (SLW) to its subscribers. In this blog-post, we will see what this SLW facility is, and is it beneficial for retirees to withdraw from NPS through SLW. What is this SLW facility? As we all know, when an NPS subscriber achieves retirement or the age of 60, …
Many individuals believe that transactions between spouses are tax-free. But the truth is bit more complex. While certain measures exist to avoid the application of taxes on asset transfers between spouses, there are also laws in place to discourage the abuse of these exceptions for tax evasion. Individuals must understand both sides of the income tax equation …
Most young people may be faced with a familiar dilemma – should they consume now and save later, or should they begin saving now? The alternatives and opportunity to spend are many for today’s youthful population. There is absolutely nothing wrong with spending some of what you make; nevertheless, you must also do one thing …
Rich Dad, Poor Dad, published by Robert Kiyosaki in 1997, combines autobiography and personal advice to illustrate how to become financially independent and prosperous. Robert Kiyosaki is a businessman and investor with a net worth of more than $100 million. His ‘Rich Dad’ brand has released over 15 financial self-help books, with over 26 million copies …
A financial windfall is any unexpected, abrupt inflow of money that exceeds your typical income. A windfall is any quantity of money that you did not expect to get. Unexpected wealth will surely have an influence on your lifestyle and objectives. Windfalls might help you pay bills or acquire assets, but they can also offer …