Many of us just go on saving and don’t even consider whether it is creating trouble for us or savings for us in real.

Here are the few financial trouble indicators, which, if, are there in your life then it is high alert for you:

1) High EMI on depreciating assets

2) Less savings despite high income

3) working for 3-5 years, but still have no asset

BEWARE of these few indicators and correct your financial life before it become trouble for you.

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Here is the financial planning suggesstions especially for women:

For teenagers, Sachayika Scheme for women is best as you can invest in it from your pocket money also.

2) TWENTY (20’s)
For women in twenty’s health insurance and equity mutual funds are best as at this age they can take risk in investments.

3) THIRTIES (30’s)
When you reach your thirties term insurance plans, mutual funds, tax plans, real estate and investment in gold are best options.

4) FORTIES (40’s)
Retirement plan is best for the women in forties.

5) FIFTIES (50’s)
As age grows dependencies also increases, so now one should invest in less risky funds.

6) SIXTIES […] Read more

Consequences of Delay in Filing Income Tax Return

1) Loss, other than from house property, cannot be carried forward.

2) Levy of Interest under Section 234A.

3) Penalty of Rs 5,000 under section 271F can be levied.

4) Exemptions/deductions under sections 10A, 10B, 80-IA, 80-IAB, 80-IB, 80-IC, 80-ID and 80-IE are not availabe.

5) Belated return cannot be revised under section 139(5).

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Why to file income tax returns?

Here are the reasons why should you file your income tax returns?

-> If you fail to file income tax return then there may be a penalty imposed by income tax department.

-> You don’t get the benefit of carry forward of lossed

-> If a refund is due after adjustment of prepaid taxes or TDS, then you have to file income tax return.

-> It is very much required, if need any loan from bank.

-> Creates your financial history with Income Tax Department.

-> It is required if visa for foreign country is required.

-> Income tax return is a proof of your financial life […] Read more

Reasons to Invest in Mutual Funds

Mutual fund is a pool of money. It is managed by a professional investor. People purchase mutual funds because of diversification, professional management and convenience. Here are few reasons why people invest in mutual funds:

1. New/more types of funds

2. Few or no sales charges

3. Some performed better than common stock

4. Widespread marketing

5. Selection is easier

6. Dispense profits to investors

7. Investors expect dividend income

8. Investors expect price appreciation

9. Affordability

10. Professional Management

11. Transparency

12. Liquidity


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