Money Saving Tips

Quote Aadhaar instead of PAN https://www.fundstiger.com/quote-aadhaar-instead-pan/ The government has allowed quoting of Aadhaar in place of PAN card under the Income Tax Act. People who don’t have a PAN will be able to quote Aadhaar instead while filing their income tax returns, as announced in the Budget. Under the Income Tax Act Aadhaar will be accepted interchangeably with PAN. A number of changes have been announced in rules related to the Unique Identity Number (UID) also known as Aadhaar number and the PAN or Permanent Account Number. While the government has allowed quoting of Aadhaar in place of PAN under the Income Tax Act, it has also announced grant of Aadhaar to NRIs on arrival without a waiting period. Meanwhile, the Income Tax Department has set a September 30 as the last date for assesses to link the two “unless specifically exempted”. Of the over 41 crore PANs issued, 22 crore have been linked to Aadhaar. Here are some important things to know about the latest ...

How to Fight the Month-End Money Crunch? https://www.fundstiger.com/month-end-money-crunch/ Running out of money by month-end is a common phenomenon . In order to get out of the financial crisis faced during the end of the month, you need to have a budget. A fixed budget will help you reconcile your income with expenses. Not having a budget will let your spends get out of hands, leaving little or no money at month-end. To get rid of this problem, you need to prepare a budget, differentiating essential spends like paying bills, EMIs, flooding expenses, house rent from discretionary ones like dining out, watching a movie etc. Once you provide for all essential expenses, you can know how much you are left with for discretionary expenses. This will help you bring discipline in your spending habit. Worth mentioning here is that you need to put 20-30% of your income every month in an emergency fund, which you should not use other than in an emergency. Financial planners say you need ...

Business Fraud https://www.fundstiger.com/business-fraud/ Business fraud consists of dishonest and illegal activities perpetrated by individuals or companies in order to provide an advantageous financial outcome to those persons or establishments. Also known as corporate fraud, these schemes often appear under the guise of legitimate business practices. An array of crimes falls under business fraud, including the following: 1. Charity Fraud Using deception to get money from individuals believing they are making donations to legitimate charity organizations, especially charities representing victims of natural disasters shortly after the incident occurs. 2. Internet auction fraud A fraudulent transaction or exchange that occurs in the context of an online auction site is called Internet auction fraud 3. Non-Delivery of Merchandise Fraud occurring when a payment is sent but the goods and services ordered are never received. 4. Non-payment of Funds Fraud occurring when...

Pan-Aadhaar Linking Deadline https://www.fundstiger.com/pan-aadhaar-link-deadline/ The government will invalidate all PAN cards that are not linked to Aadhaar by September 1. At the moment 180 out of the existing 400 million PAN cards are not linked to Aadhaar. To validate and continue using the existing PAN cards, citizens will have to link them to Aadhaar. Or else, they will be permitted to use Aadhaar instead for filing returns and while making other high-value transactions, specified under the Income Tax Act. Those who cite an Aadhaar number, which is not already linked to a PAN number, for tax returns and other specified transactions after September 1, will get a fresh one from the Income Tax Department. This is how the Aadhaar-PAN linkage, proposed in the Finance Bill, 2019 will be rolled out. The Budget fine print also reveals the amended I-T Act would put the onus on the person receiving any document relating to specified high-value transactions or tax returns, to ens...

Post Retirement Investing Tips https://www.fundstiger.com/post-retirement-investing-tips/ Saving money to fund a comfortable retirement is perhaps the biggest reason people invest. As such, finding the right balance between risk and investment return is key to a successful retirement savings strategy. Here are a few tips for ensuring you make the smartest possible decisions with your retirement savings: 1.Keep Some Safe Investments You always want to keep a portion of your retirement investments in safe alternatives. The primary goal of any safe investment is to protect what you have rather than generate a high level of current income. All retirees have some a reserve account (an emergency fund). This account should not be included as an asset available to produce retirement income. It is there as a safety net; something to turn to for unforeseen expenses that may come up in retirement. Also, if you are not sure what to do with your money, park it in a safe invest...

https://www.fundstiger.com/budget-2019-banking-sectors/ Finance minister Nirmala Sitharaman in the Union Budget for the fiscal year 2019- 2020 on Friday proposed various measures for the financial markets, such as recapitalisation of PSU banks and easing liquidity concerns of the non-banking financial companies. The government has also taken some measures to enhance participation in the capital markets. Here are the key announcements for the financial and capital market in the Budget 2019. 1. PSU Bank recapitalization The government will inject Rs 70,000 crore into state-run lenders massive bank recapitalisation plan aimed at tackling a record bad debt troubles and revive credit growth. 2. MPS (Minimum Public Shareholding) The finance minister proposed to increase minimum public shareholding for listed companies to 35 percent from the current 25 percent. This means, the promoters can’t hold more than 65 percent from the current limit of 75 percent. However, this is just...

Union Budget 2019 – Highlights https://www.fundstiger.com/union-budget-2019-highlights/ Taking a pragmatic approach, Finance Minister Nirmala Sitharaman announced no changes in personal income tax rates but levied additional surcharge on the super-rich. She also sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles. Among key announcements, Finance Minister said digital payments will get cheaper, government will launch an ATM-like One Nation One Card for pan-India travel and a new model rental laws will be unveiled to boost affordable housing. Here are the key Highlights from the Finance Minister’s speech Taxes No change in personal income tax rates Increase in cess on fuel by 1 rupee, petrol & diesel to get costlier; while Customs duty on gold and precious items increased 3% surcharge hike on an income of Rs 2 crore; 7% on Rs 5 crore and above. Corporate tax with turnover of up to Rs 400 crore slashed to 25 ...