Category: Economy Review

Indians have become bolder with their investments: What about you?

Indians have become bolder with their investments What about you -chakreview

Indians are now ready to take risks as they have become more responsive to the varied options available. The investors’ risk appetite has been constantly increasing. The most preferred route that investors are taking is that of Mutual Funds through SIP (Systematic Investment Plans). Consequently, equity mutual funds are getting very high inflows at present. Slowly and gradually, investors are becoming more and more conscious of the fact that bank fixed deposits and saving accounts give them only moderate returns as compared to other alternatives which are capable of churning better returns.

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Review: IT Job Market in India

IT sector academic qualifications

The IT Sector in the country is likely to remain stable till 2020 if the analysis of World Economic Forum is taken into consideration. Although demand for traditional IT professionals is on a decline, attractive employment trends are expected for the upcoming and emerging fields of Data Analytics and Cloud Computing. Though, globally around 5.1 million jobs are on the verge of being lost during the period 2015-20, the demand for new trends in IT like mobile internet etc. would remain stable for the same period. This kind of stability is expected because of the increased demand of the digital technologies in today’s times. It is reported that in India, the traditional IT jobs will decline at the rate of 0.38% annually during 2015-2020, whereas growth in the mobility segment is expected at 1.15% during the same 5 year period. As per the report, “Strong employment growth in the computer and mathematical jobs family, covering both traditional IT work and disruptive digital technology, will be driven by trends beyond technology”.

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Tax Saving Tips for Salaried Employees in India

Tax Saving Tips for Salaried Employees in India -

Salaried employees tend to make investments near the end of every financial year in order to minimize taxes. However, there are other options available as well that can be helpful in saving tax. Enlisted below are some useful tax saving tips for salaried employees in India that you may find helpful:
Restructuring salary:
Though it is not an always available option, however, if your organization permits, it is one of the best ways to save tax. You just need to restructure a few components to bring down your tax liability. For instance: include transport, medical, education and other such allowances as a part of your salary and then to reduce tax, produce bills of actual expenses incurred for the respective allowances; opt for food coupons instead of lunch allowance as food coupons are exempt from tax up to Rs. 50 per meal; to decrease prerequisite taxation, opt for company car rather than making use of your own; etc.

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Tax saving under 80c: Best 80c Investment options

Every earning individual is concerned about tax payment and tax savings. When you go seeking advice on how to save tax, people often throw suggestions that leave you baffled and confused. This chaos may lead you to make poor decisions and end up regretting. Thus, it is vital for you to gather trusted information regarding different investment options that one can consider to save tax. Some of these effective solutions are available under Section 80 C. The Section 80C has now replaced the previously existing Section 88 and has been effective since April, 2006. Discussed below are some of the best investment options under Section 80C that can be used for tax saving purposes:

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Best Tax Saving Investment Schemes in India

Best Tax Saving Investment Schemes in India -

Tax saving with investment – every individual who pays tax have interest in this topic. If you are one of them, you will glad to know that there are multiple options available forthe same. Knowing about your options is quite essential for making right tax saving decisions and not get stuck with multiple advices from everyone at the end moment.So, discussed below are some such best tax saving investment schemes in India from which you can draw such benefits:

Public Provident Fund
It is one of the best investment schemes in India that can be used for saving tax. It may not promise very high returns but it offers liquidity by way of withdrawals and loans; flexibility of investment and comes with a tax-free status. Investing in Public Provident Funds becomes an even more attractive option as the interest rate has been linked to bond yields in the secondary market. Also, it is expected that the Public Provident Fund will encounter a hike marginally in the year 2014-15. PPF requires a minimum investment of
Best Tax Saving Investment Schemes in India –
Best Tax Saving Investment Schemes in India –
INR 500 a year and a maximum investment of INR 1 Lac a year. Investing in PPF is the best option for elf-employed professionals, risk-averse investor and individu

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How to save Tax under different Sections?

If you are looking forward to some information on how to save tax under different section of the Income Tax law, you have come to the right place. Enlisted and discussed below are some of the income tax deductions list that you may find helpful:
Section 80C:
Under this section, deductions can be made in terms of different expenditures, investments and payments. The total deduction limit under the Section 80C is INR 1.5 Lacs. A few deductions that can be made to save tax as per this section include:
Life Insurance Premium(s) for self, spouse or child. It can also be for any member of the family in case of HUF.
Contribution to Employee’s Provident Fund Scheme, Recognized Provident Fund, Public Provident Fund for resident individual, Unit Linked Insurance Plan of LIC Mutual Fund and National Housing Scheme set deposit scheme/Pension fund.
Subscription to notified saving certificate and notified securities or deposit schemes.
Investment by resident individuals in Senior Citizens Savings Scheme 2005 for a 5 year period.

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Math of Income Tax: How it is calculated?

Calculating tax is not exactly as tough as it may sound to you. You just need to move step by step. But before you go on to calculate tax, you first need to understand ‘income.’ An individual’s income can be broadly divided under 5 different categories, namely the salary income, income from house property, professional/ …

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What Actions to take if Builder Delays Possession of your Home?

What Actions to take if Builder Delays Possession of your Home -

First and foremost, you have the right to file a consumer complaint on the grounds of deficiency in service as has been defined in the(CPA) Consumer Protection Act (1986) against the builder. The written complaint is to be filed prior to the setup of the appropriate consumer redressal forum under the CPA. A home buyer can claim for their losses even if the possession has been delayed by a day. When a legal action is taken against the builder, the developer comes under trouble as the buyer can claim money required to purchase an alternate accommodation in the respective area or they can even claim the money they have deposited with the builder.

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What are the Hidden Costs in Buying House in India ?

When you are planning to buy a house, you consider all the essential costs. You look forward to affordable home prices, good housing loans and low mortgage rates, etc. However, there are some hidden costs involved in the process as well. The price that builders advertise or tell you is only fixed base price, but there are lot of things apart from this that you have to inoccur, which increase your house cosrt by 20-30%. It is important for a buyer to have information about these costs, too, so that they prepare their budget accordingly and have a clear idea about what the total costs will come out to be. So, enlisted below are the hidden costs that are usually involved in house buying:

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10 Things you should consider while Buying a House for the First Time in India

Buying your own home for the first time can be quite a tiring and overwhelming experience of your life. It is quite a landmark in your independent life to actually own a house. Thus, you would want to be very careful and cautious while taking such a big decision. You will have to overthink and analyze various aspects. So if you are planning to buy a house in India for the first time, here are 10 things you need to check that may help you in making a better and informed decision:

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Now Check your Loan eligibility before applying through CIBIL Score !

Now Check your Loan eligibility before applying through CIBIL Score !

CIBIL stands or Credit Information Bureau (India) Ltd. It is the first credit information company in the country that gathers and maintains the individual’s as well as commercial entities’ records of payments related to credit cards and loans. This information is basically presented to CIBIL on a monthly basis by banks and other lenders.

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Time has come to Scrap Current Income Tax System and find alternatives

As per the taxation system in India, an assessee whose total salary is more than the maximum exemption limit is chargeable to income tax according to the rate(s) mentioned in the Finance Act. An assessee can be either an individual, Association of persons, Hindu Undivided Family, Body of Individuals, firm, company, local authority or any artificial judicial person not belonging to any of these categories.According to the data of 2011-12, there are a total of 3.10 crore individual assesses, 12.29 lacs firms, 4.96 companies, 1.19 lacs trusts, 7.61 lacs Hindu Undivided Family assesses and 95.84 other assesses. Roughly 89% of the tax payers belong to the INR 0 to 5 lacs slab, nearly 5.5% of them belong to the INR 5 to 10 lacs slab and about 1.3% of the tax payers are from the slab of above INR 20 lacs. Also, as per the recent records, only 5% people, who are mostly salaried, pay their income tax.

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Understanding Income TAX, Provident Fund and Gratuity

Understanding Income TAX, Provident Fund and Gratuity -

Next, let us understand what Provident Fund is. It is basically a fund that has been constitutes of the contributions made an employee throughout the time he or she was working along with an equal contribution made by the employer. Only employees with a basic salary of up to INR 6,500 have to make the contribution while the employers with basic salary above this amount are presented with the option of becoming the member of PF

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How to Save Money Using Free Discount Coupons Websites Online?

How to Save Money Using Free Discount Coupons Websites Online -

In the case of online shopping, which has become the latest trend with its increasing popularity day by day, bargaining is not possible. And wait, that does not mean you got to pay the MRP! Online coupons come to your rescue here, by giving you great choices and bargain margins.

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The Truth of High Property Rates in Delhi-NCR and Mumbai !

The Truth of High Property Rates in Delhi-NCR and Mumbai -

During the last few years, most cities have witnessed a huge increase in property rates. The main property markets are Mumbai, Delhi, NCR, Chennai, Bangalore and Pune which had a great increase in price of properties. During the last few months, the property rates of these cities increased except Mumbai and Hyderabad. Real Estate in India is currently under tremendous disputing phase with macro economic problems such as poor liquidity, rise in cost of construction, high land prices, delay in projects, higher interest rates, etc.

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