Are you aware about your liability to pay Wealth Tax?!

The word “Wealth Tax” itself is self explanatory, it is the tax imposed on the net wealth of an individual. However understanding the meaning to wealth in context of Wealth Tax is very important. Wealth is the monetary value i.e. the market value on the date of tax assessment of all the assets owned by an individual, HUF or company. Every individual and HUF whose net wealth as on March 31 exceeds Rs 30 lacs is required to pay wealth tax @1% of the amount that exceeds Rs30 lacs. Wealth tax is another type of direct tax by which tax is imposed on individuals falling under its purview. It is an annual tax like income tax.

   

Financial guardian for your child- A must in today’s uncertain times!!

Nobody likes to consider their mortality, but having dependents especially minor children makes you think about the future. Most of us hold a life insurance policy which would take care of our dependents incase of any unfortunate event. One can only wish that whatever is left behind should be used in the best way to fulfil his dependents goals. However once the person is gone he/she will not be aware of how this money will be used for the betterment of their dependents especially their minor children. If either of the parents survives there is less to worry about,

   

The twenty’s- Right time to start financial planning!!

‘22-24’ – That age of a person often characterized by ambition and enthusiasm; when one just out of the world of education focuses on the riches of investments and sets the primary goal of reaping maximum profits.

Though not wrong, it is still vital for one to realize that he is earning with a purpose. Earning extra notes maybe significant for the wallet, but it does not outweigh the importance of lifetime planning. Lack of awareness clubbed with ignorance is the cause of inappropriate decision-making regarding finances resulting incrisis.

   

Lighten up your financial side this Diwali !!

Diwali is just round the corner and we all have our plans to celebrate it. In India, Diwali is the most awaited festival of the year.  It’s the time for shopping, getting that yearly bonus, celebrating, etc.  However in this celebration, one’s financial planning goes for a toss. One may lose control on their expenditure which will indirectly affect their future financial freedom.  If a few financial planning  tips are followed during the season , you will ensure you have a stress- free year ahead.

We at Fpguru.com will enlighten you on how to spend your each day of Diwali keeping your finances in mind.

   

Ensure your child understands the value of money!!

Children being the most innocent beings of all are quick to copy and emulate everything that adults do. It is very simple to mold them into following bad habits as well as the good ones. All it takes is a little discipline on part of the parents. So let us look at simple habits that you can follow and hence instill in your child to make him financially responsible from the very beginning.

   

Page 1 of 19