What is Allowance in Income Tax and its Types?

As a novice taxpayer, understanding what the connection between your salary and allowances is essential. An allowance is a part of your salary structure that the employer pays at regular intervals. These allowances are added to your salary and taxed under the salaries as per the Income Tax Act guidelines. Tax-free allowances in salary are …

Planning for Retirement

“Retirement” .Do we need to think about it at all? If no, then perhaps now is the time to stop giving a cold shoulder to it. Being ignorant does not help carve a secure future. Though we are young and quite able at this stage in our lives. But do we think of times when …

Tips to Consider before Lending Money to Friends

Lending money to friends becomes a difficult choice at times. Money has the tendency to create rifts between closely bonded people. Yet money is a topic that becomes unavoidable. Lending and borrowing between friends can lead to sequences of debts, debt traps, uninvited apprehension and animosity. Situations where the money is borrowed, and half-returned, partially …

Setting Personal Budgets

In our lives today, it seems that we are constantly in our running shoes, because all we do is race to fulfilling our duties, necessities and obligations. Expenses are never-ending. How we wished that we could count the expenses on our fingers, but unfortunately we cannot. It has become extremely necessary to have a budget …

Learn Income Tax Return Filing For Any Income in India

If handling finances wasn’t enough, we have taxes in place too to give us gripping nightmares. However tax payment and filing income tax returns are both crucial for achieving a financial stability in life. ITR filing is mandatory is a person’s gross total pay exceeds 2.5 lakhs. The basic motive for filling income tax return …

How Net Banking Can Save Time?

Let’s first have a conversation on what net banking is. In the simple words, we can monitor our bank account online and even carry out transactions with net banking. This electronic payment system frees us of the task of physically going to a bank. We can carry out multiple transactions on the bank/financial institution’s website …

How to Repair Your Credit Score?

Before conversing about fixing damages to the credit score. Let us talk about a good credit score. We often ignore credit score while applying for loans, and many of us unaware of the low score, until the lender rejects our application and informs us. We should not turn a deaf ear towards our credit score; …

How to Handle Finances Right After Marriage?

Youngsters before marriage find themselves perplexed when finances are being spoken of. There is an absence of savings or a very much required emergency fund. Since their money management habits are haywire,it becomes essential that they get improved and systematic after marriage. If the financial loopholes are not taken care of , then these become …