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Mutual Funds

SIP Calculator: To Calculate Your Mutual Funds Return

Mutual funds wanted their investors to have an investment plan which was maintained in an organised manner. Hence, they came up with systematic investment plans (SIP). You have to invest a certain sum within defined time intervals. SIP investments are easy to use and perfect for risk-averse investors. No extra charges are charged; it does not come with the stress of share market volatility. The plan can also be discontinued any time the investor wants to. With the help of a mutual fund SIP calculator, you can also know the amount you will receive on maturity. SIP is available to all types of investors. You can start with an amount as low as Rs.500. However, you must make regular payments. You can have weekly, monthly, quarterly, or annual payment due dates based on your chosen plan. The SIP return calculator considers the principal amount and the number of installments you have paid. You can find the SIP calculator easily available online for free. Benefits Of the SIP Return Calculator Here are some of how SIP calculators are extremely useful for you as an investor: Simplicity: The SIP calculators are very easy to use. You just have to find one online, put in the required inputs, and you will be presented with the return result quickly. After knowing your return from SIP, you can move forward to planning the other investments required to meet your financial goals. Less Information Required: To calculate your return through the SIP calculator, you just need to put in the amount along with the frequency of payment and the rate of return. The calculator will give you your return based on that. Free Of Cost And No Confusion: You can use these mutual funds SIP calculators for free. Also, if you are a new investor, these calculators will not confuse you as they require direct inputs and give direct results. Quick Results: SIP return calculators do not take time to function the equation and give you an immediate answer. You will get your results within a few seconds only. How the SIP Return Calculator Works The mutual fund SIP calculator works very simply. Inputs Required You have to pay the amount in installments. A SIP investment can start with any amount equivalent to Rs.500 or more. However, Rs.1,000 is the minimum required investment amount in other investments. The total number of installments. A SIP starts with a minimum period of 6 months and can be extended to a long period. Long periods give higher returns, so you can choose the tenure according to your requirements. When you choose your SIP plan, you will learn about the return you will receive on it. So, the last input for the SIP calculator would be the rate of return on your SIP investment. SIP return calculators can also help you determine the amount and number of installments required if you know the total amount of money you want from the investment after a stipulated period. Another thing that you should note is that the resultant figure from an advanced SIP calculator takes the expected inflation rate or capital gains tax into account. Formula Used In Mutual Fund SIP Calculator FV= P x {[(1+r) n -1] /r} x (1+r), where, FV is the future value of your investment. P is the amount you pay at respective intervals. r is the rate of return in periodic terms. n is the total number of payments you have made throughout the tenure. Even though it is not required for you to know this formula, it helps in building investor confidence. If you know about the inputs and the workings of the formula, you will be satisfied with the SIP calculator's result. SIP Calculator- A Practical Example Question Suppose you invest Rs.1,000 monthly for a year (12 months). Calculate the amount that you will be receiving on maturity. The rate of return on your SIP investment is 12%. Solution FV= P x {[(1+r) n -1] /r} x (1+r), where, P= Rs.1,000 r = 12%/12= 1%= 0.01 n= 12 So, FV= 1,000 x {[(1+0.01)12 -1]/0.01} x (1+0.01) = 1,000 x [(1.1268-1)/0.01] x 1.01 = Rs.12,809 approximately. Note: These figures are just an example. Market interest rates keep changing with time and inflation. How Can You Invest In SIP Online The steps to invest in SIP online are: Keep the Required Documents Ready: To get started, you would require your PAN card, address proof, a cheque, and a passport-size photo. Although your Aadhaar card is not essential, you can use it to simplify the process. A good internet connection will be beneficial. Complete Your KYC: As an investor, you must provide the basic information required and comply with the KYC norms. This can be done online, saving time. Use The SIP Calculator: If you want to choose a plan based on the return, use the SIP return calculator to learn about it and then choose the plan. Start Investing: After calculating your return, start with your first installment payment, and your SIP tenure will begin. [B-02] Final Words A safe investment like a SIP can be very beneficial because you can estimate your return. However, make sure that your payments are made on time. Your SIP will be canceled if you do not pay 3 installments at a stretch. Use a SIP calculator to determine how much you can earn if you invest today!

08-11-2023

Other

Debenture: Basics, Features, Types and Advantages

What is a debenture? A debenture is a long-term loan (usually more than 10 years) that a company or government issues to the public to fund the capital requirements of the organisation. Once you buy a debenture from a company, you become a creditor, and the company is obligated to pay you the principal and the promised interest rate. [B-01] Debenture Highlights: Once you buy a debenture, you will receive the promised interest rate and the principal amount on maturity. Coupon rates on debentures can be fixed or floating. In the case of floating rates, the interest rate of the debenture will reset at regular intervals. If you buy a debenture from a reputed and creditworthy issuer, your money is secured, and you can also enjoy higher interest rates than bank FDs. In the event of liquidation of the company (the company going bankrupt), debenture holders will be paid before preferred shareholders and equity shareholders. So you can consider your money safer than investments made by the organisation’s preferred and equity shareholders. As there is no collateral to back debentures, the rate offered is slightly high, which will help tackle the ever-increasing inflation rate and preserve your capital. Features of Debentures Debentures have the following features: Credit rating. There is no collateral to safeguard your investment in debentures. The interest rate offered by the debenture issuer depends on its creditworthiness (denoted by a credit rating). If the issuer’s financials are sound, the rate offered on debentures will be lower as the risk is lower. Interest Rate: The coupon rate is the interest the issuer offers on debentures. The rate can be either fixed or floating. If the rate is fixed, you will receive a fixed interest rate on your principal amount at regular intervals. In the case of a floating coupon rate, the base rate is tied to a benchmark like LIBOR or MIBOR, and when the benchmark changes, the coupon rate also changes. Maturity Date: Debentures are not perpetual like equity or preferred shares—they have a maturity date. On the day of maturity, the principal and accrued interest are paid to the debenture holder by the issuing company. Convertibility of Debenture: Some businesses issue debentures, which can be converted (convertible debentures) into shares after a certain period. This makes it easier for investors to gain business ownership and enjoy financial gains when revenue increases. The issuer benefits from low-cost borrowing because convertible debentures have a lower interest rate than non convertible debentures. Sinking Fund: Debentures are obligations that companies need to obey. On the day of maturity, the debenture issuer will have to pay the whole principal amount along with accrued interest. Organisations create a fund to pay the debenture holders to avoid the sudden cash requirement. Slowly, they set aside a portion of their profit to pay the debenture holders. Liquidity: Debentures are liquid. Like shares, they trade in the capital market, and the price of the debentures changes as per demand. If the market interest rate increases, the price of debentures in the market falls, and vice versa. Types of Debentures There are eight major types of debentures, based on four different categorisations: Based on convertibility: Convertible debentures Convertible debentures can be converted into equity shares of the issuing company at a fixed rate. If you notice that the company’s share price is going up drastically, you can convert your debentures, get equity shares, and enjoy the rising price. The convert option is an advantage you are receiving, so the interest rate offered for a convertible debenture is less than for a non-convertible debenture. Non convertible debentures Non convertible debentures are traditional debentures that cannot be converted into stock by the issuing business. So, to make up for the fact that investors can’t turn it into cash, it pays a higher interest rate than convertible debentures. Based on security: Secured debenture A debenture is secured if it is issued against a firm’s assets. If the business defaults or lacks the resources to repay the loan, it might reimburse the money by selling the related asset(s). Creating a sinking fund to pay debentures on maturity reduces the risk of default and makes it secure. Unsecured debentures Unsecured debentures are debentures that are given out by a company without any claim on its assets. Based on tenure: Redeemable Debentures Redeemable debentures are debentures that the issuing company can redeem after a specified period. The debenture issuer will generally redeem a debenture when the rate offered in the debenture is higher than the market rate. The issuer will redeem your debenture and then issue new debentures at a lower market rate. Irredeemable debentures Irredeemable debentures cannot be redeemed or repaid while the corporation is still in operation. So as a debenture holder, you are safe, as you can enjoy the coupon payments for longer. Based on registration: Registered Debentures Registered debentures are debentures in which all information about their holders, such as names, addresses, etc., is kept in a separate register at the company’s headquarters. So, a proper name transfer is required to sell your debenture. Bearer Debentures These debentures are transferred through simple delivery, preserving no specific record in the business register. So, you can just sell it to any person, and no documentation is required. Advantages of debentures Debentures have various advantages for investors and the company. Non-dilution of ownership Compared to businesses that issue share capital, where control is diminished because of the shareholder’s voting rights, holders of debentures do not have any voting rights. Therefore, you will not be able to participate in the company’s decision-making. More affordable source Debentures are a more cost-effective mode of debt for the company as the costs of listing and flotation are lower than those of equity capital. Advantages to investors: Fixed income Investors receive a fixed annual income regardless of whether the firm is profitable. A corporation is required to pay interest on the issued debentures. So you will have a steady income. With equity owners, the dividend is entirely based on the revenue generated. If there is no profit, the company is not obligated to pay dividends to equity shareholders. Secured Investment In case of liquidation, the claim of the debenture holder comes before equity and preferred shareholders, which makes debentures more secure. Inflation-protected return Inflation-protected debentures secure your money from rising inflation rates. The coupon rate is tied to an inflation index, so whenever inflation increases, the coupon rate also increases. [B-02] Final thoughts Debentures are unsecured bonds that enterprises and governments commonly issue. Compared to secured bonds, secured by collateral, unsecured bonds are riskier as they do not provide any asset backup if the issuer defaults; they rely only on the business’s reputation and creditworthiness. At Piramal Finance, you will find authentic and personalised information on financial products and services, including various loans and financial calculators.

08-11-2023

Banking

Everything You Need to Know About Corporate Banking

Business banking has many features. Corporate banking is a part of it. This service is only offered for the corporate. It provides cash, credit, net banking, and related services. The other name for it is “institutional banking.” Universal banks are the leading corporate banks currently working in the market. Read on to learn more about it. [B-01] What is corporate banking? It is one of the many branches of banks. Their main work is to give loans to firms in the finance, public, and private sectors. It falls under the branch of investment banking. The working model of such banks is the same as regular banks. Services like net banking, credit, and managing finances are also provided. The only difference is that ordinary banks give loans to small firms and individuals, while corporate banks offer services to big firms. Services offered by corporate banking Treasury Service: Usually, firms manage the working capital. So they use treasury services. These MNCs help in the exchange of money. It has great value for firms. Credit: Clients get credit-related products, like loans, etc. Here, normal banks get the largest share of profits from credit services. Because lending to corporate clients has a risk factor attached to it. Thus, the interest rate is higher than others. Fixed asset requirement financing: Various firms invest money in the market. Such as an IT company that produces heavy machines and is in the transportation sector. They need fixed assets to function. Corporate banks provide loans per the firm’s needs. They also help with lease agreements for buying machines, etc. Commercial Services: Corporate banking offers many services. These include knowing the actual asset, portfolio management, etc. They help you learn about leverage with an equity and debt plan. You get a few more things, like underwriters for IPOs (initial public offerings), managing assets, etc. Employer Service: These banks offer various facilities as employer services. This includes selecting plans after one retires, health care plans, helping with payroll, etc. Corporate Banking’s Characteristics Clientele: Their main clients are firms that are small to mid-size and also large giants of the market. Liability: Every company under the law is considered a single legal entity. Hence, a corporate account’s assets are the firm’s property and not those of any single board member. This gives little help to corporate accounts. Also, no one from the board of directors can use this money for their reasons as it is the firm’s asset. Authority: Only after the board permits opening the firm’s corporate banking account can it be done. The treasurer of the firm is the one who opens the tab. He can do that only after a formal notice or if it has been decided by official voting. Bankers: Corporate banks need a team of experts who are the best in their field. That is the reason that they offer good money to them. Credit rating: The corporate account is part of the company’s credit history. This affects the interest rate for the loans extended to the firm, the firm’s share prices, and its market value. Corporate Banking Trends In a growing market, firms tend to lean on bank loans. It’s the cheapest way to finance a business. Unlike regular banks, corporate banks sometimes give out loans by merging with other lenders to reduce the exposure of a single party. The size of the corporate banking client is directly related to how easily they get credit solutions. This means the larger the firm’s size, the easier it is to get into corporate banking credit solutions. In mature markets, the firms tend to have a termed-out debt. Short-term debts are made into long-term debts without taking on any extra debt. Corporate banking vs. private banking They mainly differ because both banks have different types of clients. The private bank provides loans to high-net-worth and very high-net-worth individuals. Private banks provide credit services, including estate planning, asset management, concierge service, and tax preparation. There are very few commonalities between private banks and corporate banks. There are times when corporate bankers tend to cross-sell their banking services to the senior manager of a critical client. Corporate banking vs. investment banking Investment banking is also another name for corporate banking. Several points exist between the two that are the same, and they are sometimes seen working as a part of the broader capital market. Recuring relationship management is the main focus for corporate banks. But then, investment banks are more about finding new ideas and providing corporate finance advisory services. The difference between corporate banking and debt capital market (DCM) Debt capital market and corporate banking Both bodies have credit. [B-02] Conclusion Finally, a corporate bank is a financial institution that provides a variety of services to businesses. It offers credit, treasury services, net banking, employer, commercial, and many more. It has certain features. They are clients, liabilities, credit rating authorities, and a few others. It falls under the category of investment banking. It needs to work side by side with many other bodies of banking. If you need help with finances, you can always take the help of experts such as Piramal Finance to guide you through your personal finance woes.

08-11-2023

General Insurance

Why Everyone Needs a Life Insurance Policy

We must often ask why everyone should have life insurance plans. We prefer to secure most things differently. We check and re-check that we have our keys, wallets, and mobile phones. We check that lights and electrical devices are switched off. When you shop, you check the expiration date, returns, and refunds. You only pay if you are satisfied with the whole process. We even have vehicle and property insurance. But we don’t always believe in health and life insurance. [B-01] What is Life Insurance? It’s a legal agreement between the insurance company and the policyholder. The policyholder must pay premiums for a fixed number of years. This amount is given at the end of the process in a lump sum. One of the main reasons for life insurance is financial security. On the policyholder’s death, the money goes to the family. This can help in tough times. Seven Reasons Why Everyone Should Have Life Insurance 1. To provide financial security for loved ones: The goal of the head of a family is stability. You want to provide financial security for loved ones. But we cannot predict what will happen next in our lives. How do we assure consistency and stability? How do we do this, especially when it comes to money? Life insurance is the way to do this. It is a vital step to safeguard our family. Life insurance is a way to protect your loved ones financially. It will allow the family to continue even if anything bad happens to the breadwinner. 2. Financial assistance: Life is sometimes uncertain. It throws hindrances in our way. It’s hard to avoid them. It is essential to have financial support to at least minimize the load. This is also required for the end of work and old age. It creates freedom. It reduces dependence on others. It helps with unfavorable events. Financial relief becomes helpful when the obstacles are many and the help is limited. Every bit matters, so keep that in mind. 3. Expression of love: Life insurance is not for the individual who earns it but for those who rely on them. It is never about the breadwinner. It’s what they leave behind. It is essential to have life insurance since it provides financial security. It gives peace of mind. This feeling of relaxation is due to a secure future. It is the assurance that the family’s requirements will not be at risk because of financial stresses. 4. Purchases time and choices: Life insurance plans may be seen as a purchase of time if the earning member is no longer there. When a family member dies, you may not have people around to advise you on what to do. They may not be able to help you make the appropriate choice. When you’re emotionally unstable, you frequently make decisions that aren’t beneficial in the long run. You feel compelled to do them due to a lack of alternatives. You may consider a ready but low-paying job. This may include a bond for two or more years. The children might be enrolled in a school with lower costs and educational standards. In situations like these, life insurance can help the client buy time and explore options. 5. Aids in tax reduction: Life insurance also helps in tax reduction. Regardless of the size of the death benefit, the individual who receives it does not pay any taxes. Furthermore, if the individual is still alive, life insurance may help save taxes at the end of the fiscal year. In the case of inheritance, you have to pay taxes for the money or property given to you. With life insurance, you do not do this. So, life insurance is highly beneficial to the individual. This long-term investment should be obtained without hesitation. 6. Makes retirement easier: We’ve been talking about what happens if the earning member passes away. But life insurance is also valuable when the person is alive. Life insurance makes retirement easier. When the life insurance reaches maturity, the person receives the total amount. Thus, they keep a large sum for themselves, which will eventually benefit them after retirement. The adage “Money saved is money earned” applies well here. The insurance does make retirement easy and steady. The retiree does not feel financially insecure or reliant on anybody. 7. Peace of mind: A person with life insurance knows that they and their family are prepared for the worst-case scenario. Nobody knows what will happen to someone. Therefore, it is best to be prepared. And, of course, if you don’t have life insurance, it’s better late than never. Purchase life insurance, and you will get a prize. Peace of mind is a gift, and not everyone has the opportunity to enjoy it. Sleep better at night, knowing everything is in order, and everyone is ready if something unexpected occurs. Even if no one wants such moments, it is always a good idea to be prepared for them. [B-02] Conclusion Life insurance is essential, and one should always consider it and have it done for the upheavals and challenges that life brings.It is a critical step in ensuring the family’s financial stability in the future. With all of life’s hazards, having protection is always a smart idea. There are four fundamental reasons why everyone should buy and keep at least one form of life insurance coverage throughout their lives. If you need more guidance and assistance with your choice of insurance coverage, visit Piramal Finance. This online platform is what you need to learn everything about relevant financial products and developments. Check out their blogs to learn more about financial matters, such as personal loans, credit cards, and financial management.

08-11-2023

Other

Guide on Compound Interest and How to Use Compound Interest Calculator?

Do you want to calculate your interest savings? Use a compound interest calculator. You get complete details about interest and the principal amount in moments. Compound interest calculates the principal deposited amount and the overall interest on the total previous savings. Compounding is the best way to increase your wealth. [B-01] Let’s make it simple to understand. Let’s say you have INR 100 in your savings. Now, the compound interest is 10% per annum. You want to save money for 5 years. Since we follow a compound interest, you will have INR 157 total. But if we had followed simple interest, the total value would be INR 140. So, in compound interest, in the first year, you have INR 109. Now, your principal amount becomes INR 109. So, the next year, that total value is INR 119. This process goes on until the fifth year. That’s how your wealth increases exponentially. You get big results with a high initial principal amount and long tenure. Significance of Compound Interest Compound interest earned on a savings account helps build a nest egg faster than simple interest. Like the snowball effect, your savings continue to grow over time. You can measure it and know what amount you will have five years later. It becomes a kind of loop that grows your investment at a reasonable rate. The highlighting factor is that you don’t need to invest additional capital. This investment cycle has the potential to grow on its own. Therefore, many people are talking about the power of compound interest on the internet. Compound interest is no less than an economic phenomenon and an intelligent way to build up your finances and practically achieve all your financial objectives. Benefits of compound interest-based investments Try to invest regularly in small amounts. You can accumulate a large amount over time by investing in small amounts. When you make a compound interest investment, you prefer to keep the tenure longer, as compounding works well for the longer term. The quicker the frequency of investment, the larger the interest earned. Make sure you put your investment in a scheme where you get higher returns, like a mutual fund investment or SIP investment. Compound interest manual formula There are a few formulas that you can use to calculate Compound interest; however, the following is a common and also an easy one: A = P (1 + r / 100)n t Each letter in the compound interest formula represents a pre-set value. These values are as follows: A: Total amount you get at the end of the period P: Principal amount in which you invest initially R: Annual interest rate N: Number of times the interest compounds year on year T: Time over which the interest accumulates Excel Formula FV- Future Value Rate- Interest rate n- number of times interest calculation takes place PMT- Any additional money if you are adding PV- Initial Deposits take place if any Type- Either number 1 or 0 0 means payments are due at the end of the period 1 means payment is due from starting Compound Interest Calculator: How Does it Work? The formula for calculating compound interest is FV = PV (1 + r / n)n t Where P = Principal Amount A = Compound Interest R/r = Rate of interest N/n = Number of times interest compounds in a year T/t = Number of years For instance, if you plan to invest Rs 10,000 for ten years at a 5% interest rate. Based on the formula, Rs 500 is the interest amount. P = INR 10,000 r = 0.05 n = 1 t = 10 A = 10000 (1 + 0.05/1)10 = INR 16,288.95 So, the total interest you earned would be INR 6,288.95. Difference between Simple interest and Compound interest There are two types of interest – simple interest and compound interest. Here’s a fundamental difference between the two for your knowledge. Simple InterestCompound InterestHere, you only earn your interest on the principal amount.In this case, you make interest on the principal amount and previous interest earned. It is getting interest on interest.The primary investment remains the same. The primary investment changes after every compounding cycle. The formula to calculate simple interest is SI = (P x T x R)/100The procedure to calculate compound interest is CI = P (1+r/n)nt Top Factors that Will Impact Your Compound Interest Returns Time: time is the first and foremost factor affecting your investment growth. The more time you give to your investment, the better. So, if you want to grow your wealth, go for a longer tenure. Interest rate: Choose an investment scheme where you are getting a higher interest rate on investments. Principal Amount: The higher the principal amount, the bigger the investment. Steps to use the Compound Interest Calculator Firstly, use the slider to use the compound interest calculator. Choose the compounding frequency per your convenience: daily, weekly, monthly, quarterly, annually, and semi-annually. Then share the principal amount. Once you share the required details, the calculator will display the results. Benefits of a Compound Interest Calculator With a single click on the online compound interest calculator, you can figure out compound interest. A compound interest calculator will be a great financial tool for understanding how to grow money faster. Shares accurate results Using the compound interest calculator, you can easily find compounding and deposit intervals. The compound interest calculator is easy to use; only you are required to share the beginning amount, tenure, and interest rate offered by the financial institution. You will get results right away. [B-02] Final Thoughts Overall, compounding is no less a power everyone should know about. It will help you streamline your financial goals and facilitate achieving them. A compound interest calculation is needed when you are willing to apply for a long-term loan. It is a foundational concept that works best for accumulating wealth.

08-11-2023

Tax Savings

All You Need To Know About New Taxability Of Dividend Income

As a taxpayer, you should be well aware of the tax on dividends. But if you are not, do not worry. We have got you covered! The dividend income taxability was tax-exempt under the hands of the shareholder. This was so because the respective firms had already paid dividend distribution tax. Since 1st April 2020, this exemption has been removed. The Finance Act 2020 has moved the responsibility of paying tax on dividend to the hands of the shareholders. Now, the treatment will depend on the shareholder. Let’s say you are a trader and have received a dividend on a particular share. It should be shown under “Income from business or profession”. But, if you are an investor, the dividend received should be shown under “Income from other sources.” [B-01] Types Of Dividends Before we dive deep into the taxability of dividend income, let us understand the classification of dividend income: Based On Time Interim Dividend Final Dividend. Based On Source Received from investment in shares of a domestic company Received from investment in shares of a foreign company Received from investment in equity mutual funds Received from investment in debt mutual funds Tax Deducted At Source (TDS) On Dividend Income The tax on dividends is due from investors now. The Finance Act 2020 has levied TDS on investors’ dividend income from their money invested in firms or mutual funds. If you have a dividend income of more than Rs. 5,000, the TDS payable will be 10%. This tax paid will be taken as a credit from your ITR filing from your total tax liability. For example, you got a total of Rs. 7,000 as dividend income from the firm. Now, you will have to pay a 10% tax on dividends. But, this will not be deducted during your ITR filing. The company will deduct Rs. 700 (10% of Rs. 7,000) from your total dividend, and you will get Rs. 6,300. For NRIs, the tax deducted at the source rate is 20%, which depends on the double taxation avoidance agreement (DTAA). If the NRI wants to avail of the tax rate deduction due to their country’s treaty rate, they have to submit documents such as Form 10F, a tax residency certificate and so on. If these documents are not submitted, there will be no deduction in the tax rate. When Is Tax On Dividend Income Charged? The final dividend is taxable in the year in which the firm gave it. In the case of interim dividends, the tax is reduced on a receipt basis. Expenses Deducted From Dividend Income This is divided into two categories: When The Dividend Income Is Treated As Business Income: The taxpayer recognises the dividend as an income from a business or profession. They can make deductions from expenses that they incurred to earn this income. These expenses could be loan interest, collection charges and so on. When The Dividend Income Is Treated As Income From Other Sources: The taxpayer recognises the dividend income as income from other sources. They can only make deductions of interest expense that they incurred to earn this dividend. It can only be deducted up to 20% of the total dividend earned. No other expense can be deducted. When Does A Resident Have To Submit Form 15G Or 15H? If a resident’s annual income is below the exemption limit, they will have to submit Form 15G. This must be given to the company or the mutual fund that is paying them a dividend. In the case of a senior citizen whose taxable payable is zero, Form 15H is to be given to the firm or mutual fund. The dividend declaration is given via mail by the firm or mutual fund. They need Form 15G or 15H from the firm to pay them dividends without tax deducting. Advance Tax Levied On Dividend Income Assume your total tax liability exceeds Rs.10,000 in a financial year. Advance tax provisions will apply to you for that respective financial year. If you do not pay the advance tax or pay short of the total amount, you will be charged interest and a penalty. Tax On Dividend From Foreign Countries Tax on dividends from foreign countries will come under the head “Income from other sources.” This income will be taxed at the tax slab under which the taxpayer falls. So, if you fall under the tax slab of 30%, foreign countries’ dividend tax will be deducted at the same rate. You will only be allowed to deduct up to 20% of your dividend income as interest expense. If you do not submit your PAN card, the firm giving out a dividend will cut tax on dividends at a rate of 20%. Relief From Double Tax On Dividends Assume you receive dividend income from shares of a foreign company. This dividend tax is deducted in the foreign company’s home country. The same happens in India. On this, you can claim relief from the double tax paid. The double taxation avoidance agreement can receive this relief. This is possible if the Government of India is present in a foreign company’s home country. It can also be done through Section 91 in the absence of such agreements. [B-02] Final Words Taxpayers should always be aware of their tax liability. The Government brought down the payable tax rate on dividend to 7.5%. This happened during the pandemic. This article should help you know more about the tax on dividend. It will help you understand the new laws regarding the taxability of dividend income. Like this article? Visit Piramal Finance to read more such ones.

08-11-2023

Electronics

Hammer Headphones: Are They Worth the Hype?

Hammer headphones are some of the most popular and effective wireless earbuds in the market today, praised by customers and users alike for their versatility and high quality. Hammer Wireless Earbuds are the current rave of the audiophile community, with some also claiming that the hammer headphones when compared to other models on the market, make your favourite songs sound better than ever. The company offers several different styles of headphones and earbuds, including wireless options, over-ear models, and in-ear versions that are all designed to fit any activity or budget. Here, we’ve made a comparison among Hammer’s three main products- The Hammer Bluetooth Calling Smartwatch, the Hammer Wireless Earbuds, and the Hammer Headphones. [B-01] The Hammer Bluetooth Calling Smartwatch The Hammer Bluetooth Calling Smartwatch is a new product released by Hammer that has been getting a lot of attention lately. The watch has just as many features as any other smartwatch and is priced at about half of what you would expect to pay for an Apple Watch or Samsung Galaxy Watch. Other features include a heart rate monitor, fitness tracker, and 7-day battery life with up to 10 hours of talk time. It has a 1.3 display with Gorilla Glass, an IP67 waterproof rating, and a 3D pedometer for tracking your steps. It also comes with sensors such as a heart rate monitor and oxygen sensor. The Hammer Bluetooth Calling Smartwatch does come in two colours: black and white. For some people, this watch will be worth the hype because of its reasonable price point and because it can do so much more than most other smartwatches in the market. The Hammer Wireless Earbuds When people talk about Hammer headphones, they often mention how amazingly clear and crisp their sound is. In our testing process for the Hammer Wireless Earbuds, we found that to be true for both the bass tones and the higher register notes. The Hammer Wireless Earbuds come with three different sizes of foam inserts that are designed to provide a personalised fit. We found them to be comfortable and stable when we wore them during workouts or while just walking around. You can get up to 8 hours of playtime on one charge (with the volume set at 50%). The Hammer Headphones Many people are wondering whether Hammer is worth the hype. With so many different brands and models of headphones to choose from, it’s important to be sure that you’re buying a quality product. First off, they’re affordable. With prices starting at just INR 999, they have something to offer those looking for a new pair of earbuds. Hammer Wireless Earbuds also come in many different colours, which may seem like an insignificant detail, but it’s one thing that sets them apart from other brands that only offer black-and-white options. One downside, though, is that they don’t last very long. If you use your hammer headphones daily, chances are that they’ll stop working after about six months. Another problem with hammer headphones is that even after being charged fully, their battery life doesn’t last very long. While these are not high-end headphones, to begin with, the sound quality isn’t anything special. Some users even found it muffled when compared to competing products. There are a lot of options in this range, and it can be difficult to decide which one is best. Hammer has great reviews, but other brands like Klipsch also have many satisfied customers. Hammer’s price point might make them an attractive choice for someone who wants high-quality sound but doesn’t want to break the bank. Hammer also has a lifetime warranty on their products, especially their Hammer Bluetooth Calling Smartwatch. They’re available in both black and silver colour schemes, so there’s something for everyone! The unique curved shape makes these earbuds more comfortable than some others. The cord length is also perfect for any use case, from working out to just relaxing at home. Hammer’s Reputation as a Brand Being a relatively new brand, the Hammer Wireless Earbuds have already become quite popular. If you’re looking for a pair of high-quality earbuds that won’t break the bank, these might be perfect for you. The most noticeable thing about these Hammer Wireless Earbuds is their sound quality. With bass that is deep and rich, Hammer has created a pair of earbuds that any audiophile will love. The sound is accurate and detailed without being overly warm or tinny. The balance between treble and bass is also great, with a frequency range from 20 Hz to 20 kHz. Common Problems with Hammer Headphones There are a few common complaints about Hammer products: First, some people have said that Bluetooth connectivity is not very good with Hammer Wireless Earbuds and the Hammer Bluetooth Calling Smartwatch, and you may need to constantly switch out your connection to get a clear signal. Second, many people find the battery life of these products to be too short – even though they take only an hour or two to charge fully. Finally, some people have mentioned problems with their Hammer Bluetooth Calling Smartwatch breaking after just a few months of use. However, despite these drawbacks, it seems like the pros outweigh the cons for this brand. They are also affordable compared to other brands, so if you’re on a budget and still seek good quality, Hammer Wireless Earbuds and headphones might be right for you! [B-02] Conclusion If you want to find a good deal on quality headphones or a Hammer Bluetooth Calling Smartwatch, then Piramal Finance might be able to help. The finance company offers personal loans for a variety of purposes, including buying new earphones. It’s easy enough to apply for a loan online, even if you’ve never done it before. Just fill out an application with your contact information, employment history, and bank account details. You’ll also need to provide some details about your proposed purchase—like how much you plan to spend and what brand you want—so that Piramal can give you an estimate of what your monthly payments will be.

08-11-2023

Home

Buy Home Theaters And Sound Bars Online At Best Prices

You may have already spent a lot of money on a high-quality TV and a streaming device so you can watch Netflix. However, regardless of how large or expensive the screen is, the TV speakers are likely to be subpar. Adding a soundbar or home theatre to your great screen will make your viewing experience much better. The sound effects are audible, the dialogue is clearer, and you might hear subtle changes in the sound for the first time in your favourite movies. Are you having trouble deciding which sound bar will serve your needs the best? We’ve got you covered. The best home theatres are listed here for your convenience. [B-01] 1. JBL BAR 9.1 by Harman JBL is a leader in making different kinds of music systems because they are always coming up with new ideas and following market trends. JBL’s BAR 9.1 is a big plus because it adds to their successful line of home theatre products. Its high price tag is understandable, given the superb quality of the many individual parts that go into it. The system has an in-built Dolby Atmos system, which produces a 3D sound field and powerful bass and sound levels. Price: INR 99,999 Pros: In-built Dolby Atmos to change the way sound comes out. The Dolby Atmos technology is a high-end feature that makes it work with Ultra HD 4K. It comes with two speakers that are truly wireless and can be put anywhere for a great movie experience. This home theatre’s Bluetooth system has been improved so that it can connect to more devices and work better. Cons: Prices are a little too high. Some things can be done to improve customer service. 2. Denon DHT-S316 Dolby Digital, DTS Encoding, and Denon’s superb Dialogue Enhancement System are all available in the DHT-S316, making it the only product you’ll need. Since the two-way subwoofer is a wireless component of the system, you may set it wherever you like in the room to best suit your needs. The least amount of sound distortion is guaranteed when using an HDMI cable to make the connection. Price: INR 34,900 Pros: No matter how loud you set the volume, the Denon Dialogue Enhancer system makes the dialogue in movies and TV shows sound better. It also has an optical output and an HDMI cable for connecting to other devices. Dolby Digital software and DTS Decoding are built to give you an unbeatable musical experience. It works with a wide range of devices, including TVs, computers, tablets, and even smartphones. Cons: Not using external speakers to add more output channels. The customer may have trouble finding an authorised service centre. 3. Sony HT-Z9F 5.1Ch Dolby Atmos Sony, a household name in technology, has also transformed the sound industry. Sony makes home theatre systems for every budget. Also among 2022’s top home theatre systems is the Sony HT Z95. A 5.1 speaker system is included, which is more than adequate for a family room. Every component, including the wireless subwoofer and the Dolby Atmos decoder, works together to produce an exceptional surround sound experience. Price: INR 86,990 Pros: The home theatre is powerful and has a sleek design that goes well with the rest of the room. It works with 4K video because it has high-resolution sound. With a Dolby Atmos Surround system and a wireless subwoofer, it can give you a real movie theatre experience. It supports Google Chromecast, Amazon Alexa, and Google Assistant. Cons: Prices are a little too high. The wireless subwoofer’s sound quality can be improved. 4. boAt AAVANTE Soundbar For a theatre-quality listening experience at home, the boAt AAVANTE bar 1700D includes a 60 W wired subwoofer that is compatible with Dolby Audio. This is an excellent option for a home theatre system because it is compatible with TVs, mobile devices, and tablets. Price: INR 9,499 Pros: The bass is deep and clear. Even at louder volumes, the woofer’s bass output remains consistent and powerful. Stylish design The volume level is suitable for a room with 100 people or so. The remote itself has nearly all of the necessary controls. Cons: Very often, when the volume is turned down, you won’t be able to hear the song because of the bass’s weight. 5. JBL Cinema SB120 The booming bass of the JBL Cinema SB120 comes from 110 watts of power from two full-range drivers and a hidden subwoofer. The powerful low frequencies come from the subwoofer that is in-built. You don’t need to put another box and wires all over your living room. Price: INR 10,399 Pros: Highly polished audio quality Makes watching TV way more fun than it already is. Super thin and simple to install. There are more than one ways to connect. Cons: There isn’t a 3.5-mm audio jack. There is no specialised screen for this. Weak stereo visuals. 6. ZEBRONICS Zeb-Juke Soundbar This sound system includes a Dolby 5.1, 225 W soundbar, 150 W subwoofer, as well as two wireless 75W satellites. Dolby Audio is used to ensure a high-quality audio experience. Price: INR 16,999 Pros: Two HDMI outputs with support for 4K high dynamic range Quick and simple installation with no special tools required. 5.0 Bluetooth Cons: There is more to be desired, as the overall sound output is very bass-heavy. 7. Yamaha YAS-109 Soundbar Featuring in-built subwoofers and DTS Virtual:X technology, the Yamaha Soundbar can simulate a 5.1-channel surround sound environment. It works well with Alexa voice control, so you can easily use voice commands to control it. Price: INR 19,990 Pros: There are EQ settings already programmed in. Effectiveness in terms of latency. Cons: Irregular and unimpressive surround sound. Lack of Atmos support. [B-02] Conclusion A high-quality sound bar can do wonders for your home theatre. It’s a must-have for any home theatre setup. You’ll adore your home theatre system’s surround sound if you invest in a reputable brand, such as the ones we’ve mentioned. We hope that this post was useful and that it will be simple for you to select the best home theatre and soundbar for your needs. Read more related blogs on the Piramal Finance website, or explore our financial products and services, such as personal loans, credit cards, and financial calculators.

08-11-2023

Wedding

Why Invest In Buying Wedding Sherwani?

A wedding is one of the most important days of anyone’s life. Be it the bride or the groom, the seven vows are something that will change their lives forever. A wedding is a special occasion for everyone, and when it comes to the brides, they remain very excited about the wedding dress. But have you ever thought about what goes in a groom’s mind? Of course, it is the tried and tested sherwani. Well, just like the bride, grooms are also worried about their wedding sherwani, as they too want to look the best on their special day. But more than the wedding sherwani itself, they are more concerned about the decision to buy a wedding sherwani or possibly rent it out. [B-01] A stylish ethnic dress for guys is the sherwani. The main feature of a sherwani is a fitting long coat that is complimented by a dhoti, pajamas, or churidar. For occasions like weddings, engagements, festivals, etc., Indian men wear their finest. The exquisite fitting of the sherwani and the spellbinding embroidery in the most enticing colour combinations make a man look impeccably smart. This is one of the most elegant dresses available for men and therefore the price is usually steep. Simple sherwanis are affordable, but more elaborate ones for weddings and engagement ceremonies can be a bit expensive. The truth is, just like brides, grooms also want to own an elegant sherwani that they can cherish their entire life. Before getting into why to invest in a wedding sherwani, let’s see what factors determine the sherwani’s price. Factors Responsible for Wedding Sherwani Price Material The material is the primary factor in determining the cost of a sherwani. Sherwanis are made of a variety of fabrics, although they are solely used as a base. The price of a sherwani is ultimately determined by the style, cut, and level of craftsmanship. However, keep in mind that on your wedding day, a low-quality fabric will seem cheap and entirely odd. No matter how much embroidery is on a sherwani, it would not be appropriate if the cloth is of low quality. Design The design and level of craftsmanship decide the fate of a sherwani. Therefore, this factor accounts for a sizable portion of the overall cost. There are many different styles available, and as the groom, you should choose the one that makes you appear no less than regal. If you want something straightforward, get a printed or sparsely embroidered sherwani with some chickenkari embroidery. This pattern will look elegant on dupion or synthetic cotton cloth. Style The sherwani is the pinnacle of male Indian fashion, but the look has changed over time. Many fashion designers have developed their own interpretations of the sherwani and altered the style to establish their distinctive looks. The shape and style are significant factors that contribute to the sherwani pricing, in addition to the fabric and design. Sherwanis are typically worn with churidar pants or dhotis and some Kundan pearl jewellery to look suave. A big shawl can be slung over the shoulder. Fit The worst decision you can make is to select a sherwani that does not exactly fit you. Try out the designs that are tailored to your body type when you visit the store. You can appear shorter and thicker than you actually are if your clothing is poorly suited. If you are really thin, for instance, you might want to get a sherwani with thick shoulders to make you appear well-built. A sherwani that does not suit you well might also make you uncomfortable. Nothing is more crucial than your comfort on your wedding day. It is only then can you pay attention to the rites and participate in the revelry. Colour Try to bring your fiancé along with you when you go wedding shopping. Before going to the store to get the wedding sherwani, discuss with your wife the colour of the wedding lehenga. Make sure the colour of her outfit doesn’t conflict with your sherwani. You ought to appear harmonious with one another. Your wedding attire should match the bride’s attire so that you both seem like a match made in heaven. In those stunning wedding pictures that will last a lifetime, horribly clashing colours in your wedding attire might make you both seem uneasy! Why Buy a Wedding Sherwani? Sherwani is a symbol of grace and respect. An exceptional designer’s embroidery and rich fabric will make it the groom’s preferred pick. Men cannot deny the allure of wearing a sherwani since it is a symbol of Indian culture. Large parties, socializing, and meeting all of your loved ones are all part of the wedding proceedings. It is the ideal setting to highlight your most admirable qualities. Moreover, the traditional kurta pajama can become a little too basic and monotonous, while the formal Western attire might make you appear too solemn. Sherwanis might really make a difference for you in this situation. They are constructed with luxurious materials and ornaments that capture the occasion’s atmosphere. Setting a budget for your wedding suit is crucial since it will help you balance all the other wedding-related costs. So, decide on your wedding dress after you have a clear idea of how much you can spend. [B-02] Conclusion You want to look your best on your wedding day by donning the finest designer sherwani as the groom-to-be. Guys, it’s time to invest in stylish wedding sherwanis while the ladies are busy getting dressed up in sarees and lehengas. These stunning outfits will transform you with their distinctive colour schemes, materials, textures, designs, and cuts. Don’t compromise on your wedding day. Invest in life-long memories with great and elegant outfits. Read more related blogs on the Piramal Finance website to explore our financial products and services, especially those on personal loans, credit cards, and financial calculators.

08-11-2023