Navigating the maze of personal finance
As Indians we are perpetually attracted to gold. Traditionally it is bought either in the form of jewellery or in form of gold coins and is considered safe haven for money to be utilized in times of need. To quench this thirst, Indian government has come up with sovereign gold bonds which allows not only … Read more
Both Sukanya Samriddhi Yojana (SSY) and Public Provident Fund (PPF) are saving instruments that provide deductions under section 80C of the Income Tax Act. But like other investors you might have the question – Should I invest in SSY or PPF? The first thing that you need to keep in mind is that the purpose … Read more
What is it? It is a 15 year account designed as an instrument of long term savings. It helps to inculcate a habit of savings and build a retirement corpus. PPF is easy to open and operate and transferable between different banks, branches or post office. The maturity proceeds are tax free. Who can open … Read more
There is a perpetual dilemma with those servicing a home loan; whether to prepay or not. I was once in the same category. So I have created an excel calculator to show the impact that prepayment can have on: savings on the interest payment and the income tax deductions. The file has 3 main sections: … Read more