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Overview of SWP Calculator: Systematic Withdrawal Plan Calculator

A Systematic Withdrawal Plan (SWP) is not the same as a bank fixed deposit, from which you withdraw the same amount each month without incurring any interest. Withdrawals from an SWP mutual fund will reduce the main balance. In a mutual fund scheme, for instance, say you’ve put up Rs. 70,000 and want to withdraw Rs. 15,000 every month in withdrawals. In other words, the principal amount decreases whenever you take money out. The scheme requires a return on the remaining principal at the end of the following month to make up for this reduction. [B-01] Why is it helpful to use an SWP calculator? To participate in the systematic withdrawal plan, an investor must make an initial investment and then make regular withdrawals from their account. The investment will continue to earn interest even after a withdrawal is made. It takes work to figure out how much money will be withdrawn each month or how much will have grown over time. The SWP calculator on Groww can assist with these intricate calculations. Use the Systematic Withdrawal Plan Calculator to quickly and accurately determine the total amount you will have accumulated after several months of withdrawals. In addition, using calculators has made investing in mutual funds much more effortless. A Guide to Using the SWP Employing an SWP calculator will streamline this process considerably. Provided below is a detailed explanation of how to use the SWP calculator found here: Enter the total investment amount Enter the pre-month withdrawal Enter the estimated rate of return Enter the period Click calculate. The results will be shown in seconds. Calculating the sum of withdrawals and their value is a breeze with the SWP calculator. For whom is an SWP most appropriate? To receive a steady flow of income, SWPs are an excellent option for everybody. For those who are soon to retire, this is the best option. Upon retirement, they will receive a sizable lump sum and a regular income to cover their expenses. Anyone with a steady income stream, such as business owners or freelancers, can benefit from an SWP investment. Even if you plan to take a lengthy trip and depend on a steady paycheck while away, an SWP can guarantee you will continue to get your money each month. SWP Highlights Bonuses from tax indexation: Because of the long-term nature of an SWP, investors who withdraw after the first year are not subject to taxes. Gains that are consistent and substantial: When you make a fixed deposit, you put down cash for a certain period in exchange for a certain rate of return. In SWP, however, your returns will steadily increase over time. There is a possibility that you will receive a higher return than fixed deposits from your mutual fund investment. SIP Investments: If you currently receive a regular income, you may reinvest the profits from your SWP mutual fund units. Funds from SWP can be reinvested in a separate SIP monthly or quarterly. Put another way, if you invest a lump sum in an SWP scheme, you can immediately begin investing in a second scheme without making any more contributions from your regular income. Gains from inflation: Your bank’s fixed deposit will pay out the same amount each year, regardless of the inflation rate. In contrast, an SWP will produce returns that are consistent with inflation. Investing in a fund prioritising equity and related assets increases your potential for outperformance despite inflation. SWPs allow regular withdrawals of a set amount to reduce exposure to market fluctuations. There is less chance of losing your investment in SWPs because you can withdraw money at set periods. Minimum balance: With only Rs. 25,000 (about $3,500) in your mutual fund, you can open an SWP account. This is a one-time payment required before beginning the plan, but it is not locked in and can be withdrawn in increments at any time. In what ways may you benefit from using an SWP calculator? Senior citizens and people who have retired are two of the demographics most likely to participate in this scheme. A regular monetary donation every month ought to be made to such individuals. In the same way that a pension can provide this benefit, so can an SWP, either in addition to or as a substitute for the pension. Using a simplified systematic withdrawal plan calculator makes it simple to take advantage of the numerous benefits offered by this technique. There is a guarantee of monthly returns, and a return on investment is produced through a systematic withdrawal strategy. Using this tool, you can quickly and accurately calculate both factors. Determining the amount to be withdrawn monthly and the value at maturity are straightforward processes. Again, you can get it in a hurry if you look for it online. Using our SWP return calculator does not require any specialised knowledge or abilities on your part. Users need only enter their variables into the proper fields, and the results will be quickly created for them. [B-02] Conclusion The SWP is designed for individuals looking for regular monthly income from a mutual fund who cannot compromise with the liquidity provided by debt funds. There are, of course, certain risks associated with it. Returns may not always be consistent, and there is a chance that you might get returns slightly lower than the market average over a long-term period. Though this is the case with most, if not all, other instruments, an SWP offers a degree of security provided by the maturity value to which your capital is guaranteed to return. For more information, visit Piramal Finance.
08-11-2023
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Personal Loan

Important Things to Take Care of When Applying Personal Loan for Marriage

It is known that Indian weddings are elaborate affairs that last for many days and include numerous parties. In addition to the rituals practised for generations, it is common to practice making the celebration more memorable by singing, dancing, decorating, and throwing expensive parties. The preparation of a wedding is an expensive endeavour that, even though it may seem exciting and engaging, may occasionally go over the pre-determined budget, which is something for which one may need more preparation. A personal loan for marriage may be useful in this scenario. [B-01] What are Marriage Loans? A marriage loan sometimes referred to as a wedding loan, is a kind of personal loan for marriage that may be used to pay for a person’s wedding expenditures or the wedding costs of one’s children. You can use the money any way you see fit, whether for a down payment on a home, a honeymoon, or even some new kitchen equipment for when you are ultimately married. Before requesting a loan for your wedding, you should consider the following five considerations. Maintain a reasonable budget for your circumstances and stay away from needless debt Although it is legally possible to utilise the whole amount of a personal loan for marriage, it is not suggested that you do so. You should thoroughly analyse the wedding budget to have a better understanding of your genuine financial requirements as well as the charges involved. If you borrow more money than you need, it might hurt your current financial condition and leave you stuck in a never-ending cycle of monthly EMI payments. By utilising our online calculator, you may determine whether you are eligible for a personal loan for marriage and how much money you can borrow. If you know this information, you can properly budget your loan. If you want to qualify for a greater loan, consider paying off your current commitments or enlisting the assistance of a creditworthy and financially stable member of your family or a close friend. To improve your chances of obtaining a loan, you must devise a strategy for your EMIS When determining whether or not to grant an application for a personal loan, lenders will often base their decision on whether or not a borrower’s total EMI payments (across all loans) would exceed about 60%-70% of the borrower’s monthly income. The lender will most likely turn down the application for a joint loan if it is for an excessive amount. Get a personal loan for marriage? Utilise an EMI calculator to work out how much your monthly payments will be. Make sure that the sum of all of your monthly debt payments is at most thirty per cent of your gross income before you apply for a personal loan. Check your credit rating before you fill out the application When applying for a personal loan for marriage, you typically need a credit score of at least 750 to be authorised. You may be eligible for a marriage loan with favourable interest rates and repayment conditions if you have a good credit score and a low debt-to-income ratio. If your credit score is low, it is not a smart idea to apply for a personal loan before first taking the required measures to boost it. This decision might end up costing you more money in the long run. If you request a personal loan for marriage and are denied, it will negatively influence your credit score and future borrowing possibilities. This may be avoided by maintaining a good payment history. Examine the expenses that come with going through the foreclosure process. Before applying for a marriage loan, prospective borrowers should be well-versed on the interest rates, fees, and penalties that may apply to their situation. Processing fees, late payment or default fees, prepayment fees, and other penalties are examples of some of these charges. In addition to this, check to determine whether there are prepayment penalties. Much like those taken out from the great majority of other financial institutions, personal loans taken out via Fullerton India are not eligible for a partial return. Get to Know the Facts Before you apply for a personal loan, make sure you thoroughly prepare yourself by researching the organisation and the role. Choose a loan source that has been investigated, has a solid reputation, and has standards tailored to your specific circumstances. Before you sign the loan agreement, you must ensure that you have carefully looked through all of the terms and circumstances of the loan, including the interest rate, the duration of the loan, the date on which payments are due, and any other pertinent information. What You Need to Do to Get a Loan for Your Wedding When applying for a marriage loan, you must provide the lender with the same documentation as when applying for a personal loan for marriage. These are essential prerequisites for obtaining a loan for a wedding. Both a certificate of residency and a PAN card are required. A piece of paper attesting to your legal right to reside in the region, which must specify your current address (Aadhaar, Driving license, passport, Utility bills) Proof of Financial Gains Documentation (Form 16 or Pay Stubs from the Past Three Months). Statement from the bank covering the preceding half-year Documentation about employment, including a residential address The provision of tax returns, profit and loss statements, and other financial documents is obligatory for specialists who operate independently. [B-02] Conclusion Marriage, in many respects, marks the beginning of a lifelong journey for contentment, fulfilment, and satisfaction in one’s relationships and companionship. It is essential to strike a balance between spending money on celebrations and putting money away to prevent ever experiencing a sense of financial instability after the wedding. You can ask for help from Piramal Housing to know more about marriage loans and how it works. In addition to that, please double-check that you had paid back the personal loan for marriage before the day it was due. Make it a priority to pay your EMIS bill on time and in full to avoid falling behind on payments, paying additional penalties, and seeing a reduction in your credit score.
08-11-2023
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Other

Know How To Plan Your Budget & Benefits Of Financial Planning

Do you want to learn about mutual funds? In this article, you will get all the information you need about mutual funds and how to invest in SIP. A mutual fund gives you a detailed financial plan according to your current financial situation. It states your financial objectives and the plans to achieve those objectives. Here, you will learn how to create a budget and financial plan through mutual funds. You will also learn how to invest in SIP. [B-01] What is a budget? A budget is a financial record that helps you prepare for future savings and spending. It also states any addition to projected income and expenses. You can plan your budget by: Calculating your net income Listing monthly expenses Labeling fixed and variable expenses Determining the average monthly cost for each expense Making adjustments What is financial planning? Financial planning involves evaluating your current financial situation and building a financial plan to achieve your short- and long-term financial goals. With careful financial planning, you can overcome any unforeseen circumstances. The loss of a family member, job loss, or a serious illness, are some examples of unforeseen tragedies, that can be mitigated with careful financial preparation. Some ways by which you can create a sound financial plan include investing in mutual funds and SIPs. Benefits of Investing in SIP Here are the advantages of investing in SIPs: Achieving Financial Goals Everyone has monetary aspirations. For some, it could be living on their own, while for others, it could be travelling abroad. If you don’t have a long-term financial strategy, you won’t be able to achieve these goals. Using mutual funds, you can achieve your financial goals sooner. If you have a financial plan that is unique to your needs, you may be better prepared financially for the future. Helps Prepare for Emergencies It is impossible to predict losses. Thus, you must put your health ahead of the financial stability of your mutual funds. However, securing the necessary support can be challenging, without a secure financial footing. Hence, many people have had to borrow loans from banks to get by. When a mutual funds financial plan is put into action, a fixed amount of money is set aside every month. They are a highly recommended component of any sound financial strategy. Improved Financial Understanding There are times when you need money urgently. In such cases, having a sound financial strategy is helpful. Your existing financial situation will be under your control when you have a mutual funds financial plan in place. This helps you take advantage of opportunities as they arise. It also helps you be prepared for any emergency. If you earn a raise or bonus, you can put that money to good use. Improved Standard of Living A budget is more than just a way to save money. If it is well-planned, it can help you expand your wealth. Budgeting can help you bring in additional income to support your loved ones. Even a modest increase in income can have a positive impact on the quality of life. You can use the money to settle any debts without having to forego necessities. It can ensure that your needs are met even if you incur unexpected costs. Financial security Every person strives to achieve financial stability. Unlike employees, business owners and freelancers do not receive regular paychecks. Instead, every cent they earn from their businesses is what they take home. This can make it tough to provide for your family’s basic needs. With the help of a mutual funds financial plan, you can protect your finances. When your business is booming, a financial plan can help you keep your finances in order. You can use the invested sum to cover your family’s costs in leaner business months. Financial Independence As children, we are taught to save money by putting it in a piggy bank. Most adults, however, fail to save or invest money the right way. These can act as obstacles to achieving your goals and exploring new possibilities. When you have a mutual fund financial plan, you can stop worrying about your finances. You no longer need to worry about your current financial situation when making life-altering decisions. It can also aid in debt relief and ultimately lead to financial freedom. Early Retirement Most Indians wish they could retire early. After working for 30 or more years, they want to seek retirement. However, many are forced to stay on the job until they reach retirement age due to a lack of financial stability. With careful planning, however, you can amass sufficient wealth. This will help to maintain your current standard of living well into retirement and beyond that. You can also invest in SIP and mutual funds to secure your finances. [B-02] In conclusion The purpose of this article is to give an understanding of mutual funds and how to invest in SIP. Whether an investment is the best choice for you or not should be determined carefully. For more finance-related articles, visit the Piramal Finance website.
08-11-2023
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Personal Loan

How You Can Benefit By Using A Personal Loan EMI Calculator Online

A personal loan is a common source of credit. Such loans allow people to quickly and easily access cash in times of need. Like any financial decision, applying for a personal loan requires considerable thought and analysis. Some factors to keep in mind include the loan’s maturity, repayment capacity, interest rate, and so on. You should thus, use a personal loan EMI calculator online before applying for a personal loan. [B-01] Benefits of a Personal Loan EMI Calculator Online Here are the advantages of using a personal loan EMI calculator: Saves Time The purpose of the personal loan EMI calculator online is to help borrowers better plan their monthly finances in light of the loan’s recurring monthly payments. Using an EMI calculator to determine your personal loan payments might help you save time and effort. Do you want to get in touch with several loan companies to compare rates and fees to choose which best suits your needs? No, not. The primary purpose of a personal loan is to cover unexpected expenses. For this reason, every second is of the utmost importance. Personal loan calculators are easily accessible online or in print form. Use this calculator on your smartphone, visit the website of your favourite lending institution, and scroll down to the EMI calculation section. Personal loan EMI calculator online requires neither a lightning-fast connection nor any special financial understanding to determine your monthly instalment amount. Accuracy Nowadays, most individuals rely on calculators to determine any numerical value. The same principles are used in determining EMI. There is a high possibility of erroneous results when using the mathematical method for estimating EMI. In contrast, the results from a personal loan EMI calculator online are reliable and error-free. An amortisation schedule is provided to easily determine your EMI monthly without recalculating. Picking a Bank or Other Lender You may also use a personal loan EMI calculator online to shop for the best interest rates. Different institutions offer different terms. Borrowers may construct a list of minimum and maximum repayment durations offered by different lending institutions and interest rate bands offered by each. Evaluate loan providers by looking at various variables, such as interest rates, loan amounts, and repayment schedules. Once you have the amortisation plan, you should verify its accuracy with the lender to whom you will be making additional payments after the loan period has ended. In other words, the personal loan EMI calculator online is useful for determining which bank is the best option for our needs. Improved planning for the future What would you do if you borrowed money from a loved one to get you out of financial trouble but then ended yourself in default? How disheartened would you feel at that moment? Using an EMI calculator for a personal loan may help you avoid the difficulties above. Loan borrowers and applicants may plan using an EMI calculator to determine their payments. It enables you to make your EMI payments on the scheduled date and aids in your financial planning. As a result, it is safe to claim that using a personal loan EMI calculator online is an effective means of establishing or enhancing a good credit history. Think about your financial situation You may have felt the effects of the financial crisis, but you may need to know how much money you need to get by. Visit the monthly payment calculator for a personal loan if you need help. You might utilise an EMI calculator to determine what is feasible for your budget. Remember that there is a price tag associated with borrowing money. The financial institution must be paid for the interest and other fees incurred. A personal loan EMI calculator online is a web-based tool that helps borrowers determine how much of a loan they can manage while still meeting their needs. Maximum capacity Do you know that the interest you pay directly results from the period over which the loan must be repaid? The longer a debt is outstanding, the more interest will accumulate. Your loan’s monthly instalment (EMI) may seem more manageable if you extend its term, but in the long run, you’ll pay more in interest because of the extra time you spent paying it off. Personal loan EMI calculators show you the interest burden for several loan terms, allowing you to choose the most suitable repayment period. Therefore, it is highly recommended that you use an EMI calculator for personal loans before applying for one. Free Contrary to the general rule that “you never get something for nothing,” the use of a personal loan EMI calculator does not cost anything. This calculator requires nothing more than a smartphone, laptop, and standard internet connection. Sit back in the plush chair and pick the most suitable loan company, loan amount, and payback term using our handy calculator. Using an EMI Calculator The following data is required for the personal loan EMI calculator online: The sum you’re hoping to get via a private loan. This sum will serve as the basis of your loan from the bank. Current lending interest rate, as set by the lender. It represents the share of the loan’s principal you’ll fund the bank with. The period during which the loan account will be accessible. Within this period, you must repay any personal debts you have taken out. [B-02] Final thoughts If you are contemplating acquiring a personal loan, use an EMI calculator to see how much you need to repay. As a result, getting a personal loan is no longer difficult. Entering your data and selecting the loan that best suits your needs are the only steps required to get a loan. To learn more about the personal loan calculator EMI, consider reading more finance-related articles on the Piramal Finance website.
08-11-2023
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How To?

Complete guide on how to open online trading account

Since the beginning of the century, financial markets have changed significantly. Electronic trading replaced open outcry trading and ushered in an era of transparency. When transparency increased, both domestic and foreign institutions began operating in India. New investors entered the market as a result of this. Most brokers now offer an online option for opening trading accounts, which has led to internet trading being popular among young people. There are many trading platforms where anyone can get his trading account. [B-01] What is the need for the trading account? A trader needs an online trading account to trade shares, securities, commodities, and any other financial underlying asset on the stock market. Neither you nor the broker acting on your behalf can make the trade without a trading account. List of Documents Needed to Open an Account for Trading There is some documentation you should have on hand before you start opening a trading account. All traders must submit these documents, even though the procedure for unlocking a trading account is essentially the same for all DPs/depository participants. Document needed for income proof: An ITR copy or income tax return is required or, Copy of the yearly statement of accounts or the net worth attested by a CA or, Form 16 or the current month’s salary slip or, Bank statement for the last six months. Identity proof: A Pan Card with an appropriate photo is mandatory when you open a trading account. Aadhar cards, voter cards, licenses, passports, and government-issued ID cards with one legally acceptable photo are all acceptable for identity proof. Residential proof: You can use any of the following as address proof: voter identification, an Aadhar card, an energy or gas bill, a phone bill, or a residence certificate from a Member of the Legislative Assembly or Member of Parliament. How do you open a trading account? You must first participate in actual trading before incorporating your trading knowledge. You must visit or associate with a depository participant cum stockbroking firm to open a trading and Demat account. When you register for an online trading account, you may become paperless. Step One: The first and most important thing you need to do is choose a reliable stockbroker who can meet all your trading requirements. Ask the broker if they provide all the required trading services you require. Always remember that in the trading industry, time is money. Make sure the broker’s trading platform is simple to use on both their website and if they have one, their mobile app. Step two: After finding the right stockbroker, check their brokerage rates and compare them with other firms. Each stockbroking firm has different brokerage rates and processing charges. Before opening a trading account, ensure you get all the information you require regarding the account opening charges for trading accounts and other fees if any. Step three: Fill out the forms for a trading account, a Demat account, and KYC after choosing a stockbroker. Here’s how to fill out the form if you’re starting a trading account online. Open the application page, Then you should enter your name, PAN information, phone number, email address, home address, bank account information, etc. Upload all required documents, including identity proof, address proof, a bank copy, a cancelled cheque, a photo, and income proof. Create a short video of yourself, then upload it to prove your identity. Finally, you should e-sign the document and finish the form filling. Step four: The stockbroker will double-check your details after you’ve completed the form. You will receive your login information for your trading and Demat account once your information and supporting documents have been confirmed. You can now start your trading journey. After depositing a certain amount from your bank account to the trading account, you can purchase or sell any share on the market. You can look at the live market share prices, create a watchlist, buy shares of the top companies, and do a lot more. Here are some frequently asked questions about your trading account Can anyone open a Demat account jointly? It is possible to open an online trading account in the names of both joint holders. The number of holders in such a shared trading account is limited. There can only be one primary account holder and two joint account holders, for a total of three account holders. Is trading online secure? It is secure to deal with an online trading account, thanks to various advanced security and verification systems. All brokerage firms now use the CDSL-generated T-PIN-based authentication mechanism. T-PIN is a one-time user-generated PIN that can be used to place orders through CDSL’s Demat accounts after being confirmed. If your broker opens your CDSL account, you can file a lawsuit against this facility. Does a Demat account require nomination? According to SEBI regulations, a nomination form must be submitted along with each application for a Demat account. A written declaration must be provided by someone other than the person who wants to submit a nomination. Can I buy and sell shares without opening a trading account? Each buyer and seller must have a trading and Demat account to trade on the stock exchange. These two accounts are linked to each other. The shares are moved to the Demat account and kept electronically when you trade. [B-02] Final thought: Now you can understand how to open a Demat and trading account. Thank you for taking the initiative to open a Demat and trading account. This step is crucial for your financial stability. Before you start trading, It is a good idea to review the fundamentals of stock selection and how to build a diversified portfolio. If you’re confused, you can take advice from knowledgeable businesses like Piramal Finance. In these fields, Piramal Finance is a reputable company. They can advise you on stock market trading. They can even suggest which stock is best for you.
08-11-2023
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Other

Which is better: A new home or a Resale home

Buying a home is still a dream for many and while fulfilling that dream, certain doubts visit the way. You might want to buy a house, but might not be able to figure out whether to buy a new house or a resale home. Want to know whether to take a home loan for this or not? Well, this article will cover all these things for you and will help you reach a decision. In this article, we will learn about new homes and resale homes, their pros and cons, and which one you should prefer between them. [B-01] NEW HOME: Pros and Cons: Buying a new home is a good preference for many just because of the simple reason – it’s a fresh start. You can buy a new property using home loans, or use the money you have been saving for a long time. New homes give you the sense of being the creator of your own home. Let us discuss the pros of New homes: Diversity of choices: One of the best things about a new home is that there is an availability of choices. You have plenty of options while constructing your new home. You can optimize your needs and explore your creativity as much as you want. You can paint your bedroom magenta, have extra space in your washroom and choose a view for your glass window. This is a very big advantage as everything is set up according to what you feel is right. A sense of newness: All your fixtures, fittings, and other accessories are new and furnished in a new home. This gives you a complete sense of entering into a new zone. In case you have taken a home loan to build your house, it gives you a sense of accomplishment and tells you that your decision was worth it. When you build your own house, you have your favourite colour walls, your favourite view from the window, and new fixtures which impact your quality of life as well. Latest technology: Your new house is built with the best of technological force which gives it a nice finishing touch. Besides that, all your appliances are new as well which is another advantage of having a new house. No extra expenditure: After you build a new house of your choice and requirements, there is no extra expenditure because nothing is there to be fixed. Since everything is new and furnished, there are very less chances that you require extra money to fix anything. Cons of a new home: Speaking of cons of a new home, there are very few disadvantages and mostly depend on an individual level. Making it up on time: Maybe due to some reasons, say you have extra expenses – then it might get tough for you to manage money at the right time. This might spell trouble but it’s an imaginary situation and depends highly on an individual level. Difficulty repaying home loan: In case you have taken a home loan from the bank to build your house, you might face difficulty while repaying your loan. This is another situation and again depends on the individual. Construction delay: In some cases, due to episodes of recurring bad weather, a disaster or simple construction problems, work might get delayed. This often doesn’t happen and is generally not a thing to be concerned about. RESALE HOME: Pros and Cons: It is a very viable option for people who are facing the problem of unavailability of land for constructing a new home or lack of space for a new residential project. In certain cases, a resale home seems to be economical and meets your needs exactly the way you wanted. Pros of a resale home: No chance of project delay: There isn’t any chance of project delay in a resale home as everything is readily made. You just have to purchase the property, fix things if they are not in good condition and live in it. You have options: You have the option to choose whether to go for the property or not. In case you don’t like the property, you have the option to say “no” to it and look for another. In case, you like it and it seems to fit your preference, you simply purchase it. No construction worries: As a resale property is already built, you don’t have to get into the mess of construction. All the construction tension and management are not there in buying a resale home. You simply buy it, curate it and start living in it. Cons of a resale home: Sometimes Unfixable: Some resale homes have a lot of things that are not done properly. So, you have to invest a huge amount of money to change all of those things and make them fit you, which is a big disadvantage. Old fixtures and Accessories: You are now in a house where all your accessories, fixtures, and fittings are already being used. So, there are chances that these things will create problems for you in the long run. Home loan issue: Like in new homes as well, you might face difficulties in repaying your loan in case you have an increased financial burden. [B-02] Conclusion: Both homes have their pros and cons, but in the case of a new home, the pros are way more than the cons. You should prefer a new home over a resale home in case you have the scope to do so. You should take a home loan in which the interest rate is minimal and is easily payable. If you ever consider taking up a home loan or a personal loan, you should visit Piramal Finance. They have a variety of services and content on home loans, personal loans, investments, financing, etc.
08-11-2023
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Tax

How Bloggers Can Pay Income Tax Online in India

Today’s hectic lifestyle is a hallmark of the twenty-first century. It is easy to lose sight of our most important civic duty, filing taxes. It is true as we have to be on the go all the time to meet other responsibilities. For example, jobs, household duties, movies or exploring new restaurants. You can file your tax returns online in this digital era. The days of waiting in line and taking time out of a hectic schedule to pay your taxes in person are over. Electronic filing and e-payment of income taxes have simplified the procedure. So now, you have no justification for not paying your tax. [B-01] Here, we’ll go over the steps for Indian bloggers to file and pay income tax online. How Can Bloggers Pay Income Tax Online in India? If you are a blogger, follow these steps to pay income tax online: Visit www.incometaxindia.gov.in. You’ll see a link labelled “e-Pay taxes” after logging in. You’ll be taken to the National Securities Depository Ltd when you click that link. You can pick challan no /ITNS 280 followed by (0021) Income tax (other than corporations). Fill in information like your name, address, e-mail, PAN and phone number. Pick the assessment year that corresponds with the payment you’re making. In the assessment year, you can choose “(300) Self-Assessment Tax” as the “method of payment”. Select the desired banking option from the drop-down menu. The next step is to input the “tax payable amount.” When you make a payment, a challan will pop up on your screen. It will have your CIN and payment details, as well as the name of the bank you used to make the transaction. You’ve now successfully paid your taxes as a blogger. Is Blogging Income a Business Income or Professional Income? Some level of experience is always required while writing a blog. A doctor is ideal for writing on the topic of medicine and health care. Articles on tax and accounting are within the purview of a Chartered Accountant. An athlete has the ability to articulate complex ideas in detail, such as in sporting events. Thus, providing an excellent blog necessitates some amount of professional talent and experience. In light of this, we believe that blog income should be reported as business income. Tax Implication for Bloggers It is obvious that blog income cannot be reported under one of the five income categories in the Income Tax Act. So, the revenue will be treated as if it were obtained through a business or profession. Income from Business/Profession The Income Tax Act states that taxpayers pay taxes on net profits or losses from their businesses. Allowed Expenses for Bloggers Blog income will be taxable as company income, allowing certain costs to be deducted. After deducting these costs, the remaining income will be subject to taxation. Some examples of acceptable outlays are as follows: Hosting fees for a domain Rent Payments for essentials like water, gas, electricity and telephone Staff compensation Freelance payments Convenience charges Costs incurred for the generation of any other form of income Legitimate costs are those that directly contribute to making money. To generate income, the company’s spending must serve a useful purpose. To back up claims of money spent, the blogger must keep all relevant bills and receipts. Depreciation for Bloggers The blogger must invest in tools essential to the success of his enterprise. It is not possible to write off capital expenditures in the year they are incurred. For example computers, furniture and office equipment. Assets’ prices should be amortised over their expected useful lives. Depreciation is the spreading out of an asset’s initial cost over its useful lifetime. Net income might include depreciation costs, which can be subtracted from revenue. Investments for Bloggers Bloggers can reduce their taxable income by investing their money in tax-deferred vehicles. Tax relief can be obtained by making these investments, thanks to Section 80C of the Income Tax Act. The Income Tax Act limits the deduction amount that can be claimed for investments. You’ll need a few documents to file your salary-based income tax return online. Documents required for e-filing taxes are: : PAN Card Aadhaar Number Form 16 Statement of gross pay, net pay, standard deductions, as well as any allowances or bonuses. Form 26AS Housing rental payments in the event of an HRA allowance. In India, figuring out the HRA amount you are eligible for is as simple as using an HRA calculator. In addition, you’ll need the following documents to seek deduction while filling out your ITR online: Certificates of deposit from your checking and savings accounts. Proof of house property income Proof of capital gains income from the sale of assets Proof of payment for loans Proof of any tax-deductible investments Importance of Filing Income Tax Returns Filing tax returns is a legal need for all citizens with income above the threshold in India. It is irrelevant whether you file your income tax return manually or electronically. Filing tax returns is required for individuals whose income is taxable. Income tax returns are typically due at the end of July (31st) each year. Penalties will be imposed for failure to meet this deadline. It is crucial to submit IT returns on time, since a late payment may affect your eligibility for a visa or a loan. It’s also possible that someone will file a suit against you. A conviction for tax evasion in India carries a sentence of at least three years and a maximum of seven years in prison. Avoid these problems by making timely tax payments. Easy and convenient, e-filing your tax return and even making TDS payments online is now possible. [B-02] Conclusion Bloggers also have to pay taxes. This article highlighted every step to pay income tax online as a blogger. Income tax e-payment is necessary, and putting it off until the last minute will only stress you out in the long run. Thus, gather all your documents, and finish this process as quickly as possible. Want a quick personal loan? Apply for a personal loan with Piramal Finance and get instant approval.
08-11-2023
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GST

Complete Guide to File GST Return Online

What is GST Return? This is an official government document that includes payments, GST invoices, and receipts for a duration. All business owners are required to specify transactions relating to their business. This is how the authorities will determine the tax amount. Today, you can file GST online from the comfort of your home. The GSTIN details that are essential include: Total purchases Total sales Input Tax Credit Output GST [B-01] 10 Types of GST Returns There are different GST return types that regular taxpayers need to pay. Let us have a closer look at them. GSTR – 1: This includes services and taxable goods details. GSTR – 2: This includes information on inward supplies and ITC claims. GSTR – 3: This includes details on monthly returns relating to inward & outward supplies. Also, it has the total tax payable information. GSTR – 4: This includes information relating to quarterly return filing. GSTR – 5: This has information relating to GST return filing for NRIs. GSTR – 6: This has the form for service distributors. GSTR – 7: This has the form that allows return filing for TDS. GSTR – 8: This includes supply information for e-commerce. GSTR – 9: This is the form for filing annual returns. GSTR – 10: This has the information to file annual returns for compounding taxable individuals. The Complete Guide to Filing GST Returns Online All suppliers, manufacturers, and consumers need to file tax returns. Today, filing tax returns has gotten easier. You can complete the entire process online. An individual can file a GST return through the official GST portal. Below are the steps you need to follow for filing the GST returns online. Step 1: You first need to visit the official website of the GST portal. Here is the link: www.gst.gov.in. Step 2: You will be issued a 15-digit GST identification number. This will be depending on your PAN number as well as your state code. Step 3: The next step is to upload the invoices on the portal. You will get an invoice reference number. Step 4: Once you upload the invoice, you will have to file the monthly return, inward return, and outward return. Make sure to avoid any errors. In case of mistakes, you can correct them and refile them. Step 5: Now you need to file the outward supply returns through the information section. Step 6: The outward supply details will be available in GSTR-2A. Step 7: The recipient will now have to verify the details. In case of any changes, they will edit the information and file notes. Step 8: The recipient also has to verify the inward supply details. Step 9: Now the supplier can choose to reject or accept the changes in the information. How To Check The Status of GST Returns? You can now check the status of GST Returns online on the official website. There are a total of 3 ways you can check your status. We will have a look at each one of them in detail. Method 1: Checking status through the ARN option. Follow the steps below to track your GST Return status using the ARN option. Step 1: Log into the official GST portal using your credentials. Step 2: You will find a ‘Services’ option on the top menu. Click on that. Step 3: Under the ‘Returns’ tab, choose ‘Track Return Status’. Step 4: Choose the ARN option. Step 5: Put your ARN in the field. Step 6: Hit the ‘Search’ tab. You will find the status of your GST Return on the screen. Method 2: Checking status through the Return Filing Period Option. Follow the steps below to track your GST Return using Return Filing Period. Step 1:Log into the official GST portal and enter your valid credentials. Step 2: You will see a ‘Services’ option on the top menu. Select the option. Step 3: Under the ‘Returns’ option choose ‘Track Return Status’. Step 4: Choose the ‘Return Filing Period’ option. Step 5: You will be redirected to a new page. Here you need to choose the return filing period and financial year. Step 6: Hit the ‘Search’ tab. You will find the status of your GST Return on the screen. Method 3: Checking status through the Status option. Follow the steps below to track your GST Return using the Status option. Step 1: Log into the official GST portal. Enter your credentials. Step 2: Choose the ‘Services’ option from the menu. Step 3: Select the ‘Track Return Status’ under the ‘Returns’ tab. Step 4: Choose the ‘Status’ option. Step 5: Now you need to choose the Status of Return from the drop-down menu. Step 6: Finally, hit the ‘Search’ tab. You will see the GST Return details on the screen. [B-02] The Bottom Line This is how you can file GST returns online. Make sure you pay them on time. Failure to pay can lead to a penalty. The late fee is Rs. 200 per day. But this fee is subject to change. Now that you know how to file GST returns online, you can do it the next time. If you love finance-related articles, visit the Piramal Finance website. They have interesting write-ups in the finance sector.
08-11-2023
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How To?

Guide On How To Do Stock Market Analysis And Tips To Invest In Stock Market

Investing in the stock market is not that simple. Before starting, you should analyse the market to understand the asset you are investing in. You should look for trends and the performance of the stocks, among other things. Knowing how to do analysis will help you make better stock market decisions. This guide will help you understand how to do your stock market analysis to obtain great results. [B-01] How to Do Stock Market Analysis? To invest in the market, you should do a strong fundamental analysis of the companies that you are planning to invest in. Stock market analysis is a multi-step process. It helps you cover all the basics that will help you make the best investment decisions and generate wealth. Here is how you can analyse the stock market. Analysing the Industry Analysing the industry that you want to invest in is a great way to start. A comparative study of companies in the industry will help you understand their trends. Further, it will help you understand how well the company is performing when compared with its competitors. Studying financial statements Studying financial statements will help you understand the company’s performance. There are publicly available statements such as cash-flow statements, balance sheets, income statements, etc. that will give you clarity about the financial well-being and performance of the company. These statements give you important information about their profit and sales. You can use all this information to decide on investing in the company. Research the company’s stock After understanding the industry and the company, you should take a closer look at its stock. The study of the price-equity ratio (P/E ratio) of the stock will tell you if it is undervalued or overvalued. A stock with a high P/E ratio is an overvalued stock, and one with a low P/E ratio is undervalued. Analysing the stock using its P/E ratio and historical data will tell you if it’s worth buying. It will also tell you a lot about how the company is performing in the market. Track news about the company Before making your investment decision, you should keep an eye on the news related to the company. Be mindful to read news from verified sources. Tracking news related to the company will not only help you gain information but also help in predicting the performance of the company. Analyse the Risk Stock markets are exposed to risk. Before making any investment, you should spend some time understanding the risks related to your investment. For this, you should first understand your risk appetite, which is simply how much risk you are willing to take with your investment. Before making a decision, you should study the size of the company. A small-cap company is riskier compared to a mid- or large-cap company. At the same time, consider how prone that company is to changes in government policies. Such an analysis of risk is key to making good investment decisions. Tips to Invest in the Stock Market Now that you have understood how to analyse the stock market, here are a few tips to keep handy when investing in the market. Understand the Basics of the Stock Market: This is a no-brainer. When investing, you should have a basic understanding of how the market functions and what drives it. Before investing, spend some time and probably some money learning its technicalities. Never enter the stock market without any prior knowledge. This will help you understand the key functions of the market. It will also reduce the risk of losing your investment. Create a Diversified Portfolio: While investing in the stock market, don’t invest all of your money in just one stock. Rather, invest in a range of companies. Diversifying your portfolio will greatly reduce the risk of loss that investing in one stock can cause. A good way to diversify your portfolio is by investing in mutual funds or exchange-traded funds (ETFs). Invest in companies with strong fundamentals: While investing, you should look into the fundamentals of a company. Companies with strong fundamentals offer greater liquidity. They can also provide good returns in the long term. Therefore, invest only in companies with strong fundamentals, those that can withstand fluctuations and volatility. Invest in businesses that you understand: It is recommended to invest in a company that you have an interest in learning about. What a company does can greatly benefit you in your investment journey. If you understand their products and services, you can easily understand the impact of policies and market conditions on their share price. Avoid buying based on suggestions: Do not rely on rumours and advice, even from your close friends and family, while investing in the stock market. As an investor, you should conduct proper due diligence. Always study the company before investing in its shares. Do not rely on word-of-mouth for your investment decisions. Be patient; invest for the long term: Getting returns in the stock market is a long game. Be patient and invest for the long term for better returns. Do not check your returns every day; let your investments work for you. However, keep a keen eye on the market. Use a reliable intermediary to invest through: Several official stock brokers can open Demat and trading accounts for you. To invest, you should use a reliable intermediary. While looking for an intermediary, you should choose someone experienced and credible, like Piramal Enterprises Limited, to trade in the market. [B-02] Conclusion This guide to stock market analysis will help you make better investment decisions and enter the market with the necessary knowledge required of an investor. For more stock market and personal finance knowledge, visit the Piramal Finance website and give your finance journey the knowledge it requires.
08-11-2023
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