Monday, December 26, 2011

Online Electricity bill payment in Odisha

Now you can pay your Electricity Bill Online in Odisha.


Steps to Pay Electricity bill Online in Odisha:


1. Open the OrissaOnline website.
http://orissaonline.gov.in/Site/Index.aspx


2. Existing Users login to the website. New users register by clicking on the Register link.

3. Once you login, you can see the list of Online Services available.

Click on either Option 1 or 2 based on your area Division (This information is available in your Electricity Bill).


4. Now, Enter your Area Code and Consumer Number (both the information are available in your electricity bill). Then press search button. It will list all the details like ConsumerID, Name and address. Press Proceed to make the payment.



Thursday, December 15, 2011

Instruction Manual for Investing

This article is a part of [Personal Finance Tips to master your own Finances]

Let’s open the manual:

Every gadget you buy in the market comes with an instruction manual or user’s manual. But your salary, savings...retirement don’t come with an instruction manual. So we don’t know how to handle these and we end up mishandling. The result is poor investment choices and unhappy retirement. This article is an effort to draft an instruction manual for our investments.

Investment forms an integral part of our work life, with many wanting to save and invest to meet our long-term financial needs. We would all agree that just living from paycheque to paycheque would leave us in a bad financial state making us incapable of meeting our family’s financial commitments and our expenses after retirement.

Don’t Fly Blind: Have a Financial Plan:

It is vital to chalk out a financial plan at the very beginning of our career. This plan would tell us how much we should save and invest. This plan also ensures that our long-term financial needs are met. It may prove difficult and sometimes costly in the long run if we chalk out a financial plan on our own. So it is better to engage a professional financial planner, who would be in the right position to advice us on the investments to meet our long-term objectives in life.

Generally investment advisors or financial planners ensure that we invest in the right type of investments that are relatively safe and tax efficient. They ensure that our investments do not divert away from the set financial goal. The advisors or planners who charge a fee, can be expected to act in the best interest of us; their clients. But we will not be in a position to trust those who live out of the commissions earned from selling insurance policies or mutual funds or stock broking.

However, it is best for you also to be cautious and not allowed to be fooled by flattery. Since it is your money you need to be cautious and vigilant.

Do control what you can:

The first thing that we can control is unnecessary expense on investment. It is in our interest to try to minimize or avoid investment expenses like entry load, exit load, fund management fees, commissions for buying and selling stocks, account maintenance fees, allocation charges, administration charges, surrender charges, and other overheads. Small drops make a mighty ocean. Similarly these small amounts of cost cutting will definitely pay us in the long run.

The second control is over the diversification of your investment. You also need to ensure that at all times your investments are done over a wider variety of assets. This will ensure that you do not suffer large losses in one type of investment. The losses in one would then be offset by the gains in the other and you will be financially safe at all times.

The third control is the maintenance of our asset allocation to reach our financial goal. We need to keep a check over the asset allocation or ratio of equity to debt and to other things in your portfolio with the help of a professional financial planner. This will help us ensure that we are not taking more risk than what we want or can possibly handle.

Do pay as little attention as possible to the financial media:

It is best not to be influenced too much by the media to buy and sell investments. Investing is not a competitive sport. Buying and selling stock frantically by being influenced by the media is counter productive to your financial objectives.

It is best to understand that our conscious investment is for long-term wealth appreciation. So we should not be distracted by the investment shows that run 24 hrs a day, investment column they publish 365 days a year. Media doesn’t understand your requirements. So it is difficult to get a customized solution for your personal finance.

Don’t fall into "Invest and Ignore":

We have invested your precious savings, so do not be careless and sleep over it. Though our investment advisor would make sure that our investment grows, it is better that we too are vigilant and keep track of market conditions. It is our precious savings that we have invested. So if we lose it, we would be losing not only money but also our peace of mind.

Don’t fall into "HNI Trap":

Being a high net worth person exposes us to being influenced to invest in dubious projects that may bring down your financial status. This is true because the financial industry are on the look out for people that have a lot of money and are of a high status. They try to influence them to invest in dubious projects appealing to their status and vanity.

Being a HNI doesn’t mean that you need a completely different set of investments. They try to pack something and will say “This is a HNI product”, just to massage your ego and get business. Many HNIs would be lot richer, if they could have bypassed their private banking department and just invested in an index and a very few diversified equity funds.

A final thought:

The instructions in the user’s manual need to be used to get the maximum benefit and long life of the gadget. Similarly, having read the set of instructions to make wise investment decisions, it is up to you to follow them strictly or leave it and go back to your routine life.

If you decide to follow these instructions, you will definitely see a lot of positive changes and financial prosperity in the long run. So today is going to be the first day for rest of your life.

The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Founder and Director of Holistic Investment Planners, a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in.

Ultra Low cost tablet AAKASH is now available online for purchase

The much awaited Ultra Low cost tablet AAKASH is now available online for purchase in India. It will be very much useful for students. It will help to access internet and work with documents like word, excel, power point,   pdf files etc. Also, it will support multimedia files like Images, audio files and Video files. Students will be able to watch Youtube videos in the device and learn from video tutorials.

It will cost Rs 2,500. To get your AAKASH Tablet, Order Online at http://www.aakashtablet.com/
You will get the delivery in one week time and you have to pay the cash on delivery.

So, why delay? Book as soon as possible.

Tuesday, December 13, 2011

The 10 Financial Doctrines of Wise Retirement Planning

This article is a part of [Personal Finance Tips to master your own Finances]

Let’s begin on planning finance for retirement:

It is usual for many of us to aspire for a financially secure and happy retired life. However being financially prepared to meet the demands of retired life by saving and investing requires considering and following the 10 doctrines of wise retirement planning.

A look at the 10 doctrines to wise retirement planning:


1) Provide for contingenciesh:

Most of us tend to underestimate our retirement needs. Provision for medical emergencies with inadequacy of medical insurance in old age requires financial provision. Lack of government social security schemes and retirement benefits to self-employed and private sector employees creates requirement for more provision for contingencies after retirement.

2) Think that you will live long:

This is true with increased life expectancy. Now you will have more years of life after retirement. Thanks to medical advancements. So it is better to plan for the additional years and avoid living frugally in old age.

3) Plan that you will retire early:

It is wise to provide for contingencies arising that require you to retire early. You could suffer ill health, lose your job, or need to care for a sick or elderly member of the family. Women may have to opt voluntarily to look after the family needs. All this requires more savings for retirement needs.

4) Beat the inflation before it beats you:

Inflation affects the personal finance needs of the working class, but pay rises could help them resolve it to a certain extent. However the retired have to save more to reduce the impact of inflation. Investing in modes that give you extra returns could help greatly.
Investors come to me and say “I would like to accumulate 2 crores and retire”. But when we really work out the inflation adjusted retirement corpus, the 2 crores would not be sufficient for him to have comfortable retirement. 2 crores may feed you enough in the first year after your retirement. The returns from the same 2 crores will not be sufficient for you take care of all your needs on the 10th year after your retirement because of the skyrocketing inflation figures.

5) Provision for increased medical expenses after retirement:

Most of us underestimate medical expenses after retirement, with these expenses being inevitable in old age. Hence more provision for medical insurance helps. A consideration of your family’s general health, family history of certain genetic disorders, and the class of hospital you get treated would help in proper estimation for medical insurance.

6) Provide for your spouse and dependents who may outlive you:

It is inevitable that this need should not be overlooked. Your spouse and dependents need to live a secure financial life after your lifetime. Taking up insurance policies during your working life and well thought out retirement planning will take care of your dependents and spouse financially.

7) Realize you need to be vigilant about sources of retirement income:

Sometimes we may be ignorant of benefits on retirement like provident fund, gratuity and other benefits. In India the lack of social security schemes after retirement makes it necessary to invest more in good income generating sources for steady flow of retirement income. The advice of investment consultants, along with financial education and information contributes to good financial standing after retirement.

8) Educate yourself about retirement savings plan management:

When the majority is relying on the pension schemes in the form of ulips offered by various public and private insurance companies, as a smart investor you need to understand the hidden charges of these pension policies. These policies are all heavily front loaded.
So you need to evaluate various investment options available for retirement. You need to accumulate sufficient knowledge in this regard. In addition learning to keep track of them with professional help makes these saving plans work for you.

9) Plan for an income for life:

Your retirement plans need to be financial plans to make income last you a lifetime. Pensions or annuities providing best income need to be safeguarded, as withdrawing large sums from them could end you in financial insufficiency in the final years of your life.

10) Take professional investment advice that works:

Many do realize the importance of financial advice from professional financial advisors, but in practice seek it from family, friends and colleagues. A right financial advisor could give you good investment advice to have financially secured retirement ife.

A final note:
I am sure you want to emerge financially secure for your retired life and will follow these 10 financial tenets to wise retirement planning.

The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Founder and Director of Holistic Investment Planners a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in.

Tuesday, November 29, 2011

Ads in WordPress Blog

Earlier you were not allowed to put Advertisements in your WordPress blog. If you wanted to put ads in your Wordpress blog, then there is a good news for you. Now you can put Advertisements - read the Official News from Wordpress here:
http://en.blog.wordpress.com/2011/11/29/wordads/

Sunday, October 30, 2011

What are the top performing ad units in Google Adsense

The Ad performance depends on many factors in a website. The factors are Position of the Ad, Dimension of the Ad, Background/foreground Colors etc.

With respect to dimension, below four categories are known to be the best performing Google Ads.

1. 336x280 Unit:


2. 300x250 Unit:


3. 728x90 Unit:

Image truncated. Click on the image to see actual size.[This is just an image, no an Ad]

4. 160x600 Unit:


Use the high performing Google Ads in your website and increase your revenue. You can suuggest the Ad units that performs best in tour website.

Thursday, October 27, 2011

KBC 5 Jackpot Question for Today -27-10-2011


This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 27-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

Mukesh and Anil are the sons of which of these businessmen?

A: Jamsetji Tata
B: R P Goenka
C: Ghanshyam Das Birla
D: Dhirubhai Ambani


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 28th-Oct-2011 8:30PM IST.

Wednesday, October 26, 2011

KBC 5 Jackpot Question for Today -26-10-2011


This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 26-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

Pallu is a part of which of these women's garments?

A: Skirt
B: Kurta
C: Sari
D: Salwar


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 27th-Oct-2011 8:30PM IST.

Tuesday, October 25, 2011

KBC 5 Jackpot Question for Today -25-10-2011


This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 25-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

In the 'Golmaal' series of films, what can the character of Tushar Kapoor not do?

A: Fight
B: Dance
C: Speak
D: Walk


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 26th-Oct-2011 8:30PM IST.

Monday, October 24, 2011

KBC 5 Jackpot Question for Today -24-10-2011


This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 24-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

Which city and its surrounding areas comprise the NCR of India?

A: Chennai
B: Nagpur
C: Chandigarh
D: New Delhi


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 25th-Oct-2011 8:30PM IST.

Thursday, October 20, 2011

KBC 5 Jackpot Question for Today -20-10-2011


This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 20-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

What term is used for a run scored in Cricket, other than from a hit with the bat?

A: Extra
B: Perk
C: Tip
D: Plus


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 21st-Oct-2011 8:30PM IST.

Wednesday, October 19, 2011

How to check that my number is on DND

If you want to activate DND(Do Not Disturb) service which is a good initiative by Telecom Regulatory Authority of India (TRAI) to keep you away from Spam SMS or Promotional calls, follow these steps.

But if you receive Spam SMS or Promotional calls even after you register for DND, difinitely you can check you phone number if it is there in the DND database or not. If it is not there, you will have to register again for DND.

How to check that my number is on DND:

1. Open the National Do Not Call Registry by clicking on below URL: http://ndncregistry.gov.in/ndncregistry/index.jsp

2. Click on DND Registration Check Button

3. Search Screen will appear. Enter your phone number and press Search.

4. If your number is registered for DND, you will get below message.
"This Number is Registered in NDNC Registry Database"

If not yet registered for DND, you will get below message.
"This Number is not Registered in NDNC Registry Database"

Post a comment if you found this article useful. Let us know if you have any issues.

KBC 5 Jackpot Question for Today -19-10-2011


This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 19-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

What is the 350-year old Taj Mahal?

A: A Palace
B: A Crown
C: A Mausoleum
D: A Hotel


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 20th-Oct-2011 8:30PM IST.

Tuesday, October 18, 2011

KBC 5 Jackpot Question for Today -18-10-2011


This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 18-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

In the film "Mr. India", Mogambo was looking for a formula to enable what?

A: Immortality
B: Influenza
C: Invisibility
D: Intelligence


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 19th-Oct-2011 8:30PM IST.

Monday, October 17, 2011

KBC 5 Jackpot Question for Today -17-10-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 17-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

Nabh and Gagan are synonyms of which Hindi word?

A: Aasmaan
B: Samudra
C: Surya
D: Prithvi


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 18th-Oct-2011 8:30PM IST.

Saturday, October 15, 2011

Really Tough Movie Quiz on ibnlive

Participate in Movie Quiz (Bollywood and Hollywood) in CNN-IBN News Channel to win cool goodies.


Participate on Really Tough Movie Quiz on ibnlive

Thursday, October 13, 2011

KBC 5 Jackpot Question for Today -13-10-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 13-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

Which Of these states does not have any port?

A: Tamil Nadu
B: Andhra Pradesh
C: Maharashtra
D: Uttarakhand


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 14th-Oct-2011 8:30PM IST.

Wednesday, October 12, 2011

KBC 5 Jackpot Question for Today -12-10-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 12-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

If you take a loan from a bank, then what would you pay every month towards its repayment?

A: PMO
B: BMI
C: CPM
D: EMI


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 13th-Oct-2011 8:30PM IST.

Answer:

D: EMI

Tuesday, October 11, 2011

KBC 5 Jackpot Question for Today -11-10-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 11-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

According to a Hindi proverb, 'Gehun ke Saath ____ Bhi Pista Hai'?

A: Ganwar
B: Ghoda
C: Ghun
D: Ghayal


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 12th-Oct-2011 8:30PM IST.

Answer:

C: Ghun

Monday, October 10, 2011

KBC 5 Jackpot Question for Today -10-10-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 10-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

In the film "Lage Raho Munna Bhai", what is RJ Jhanvi's Signature greeting, "Good morning, ________"?

A: Dilli
B: Mumbai
C: Sydney
D: India


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 11th-Oct-2011 8:30PM IST.

Answer:

B: Mumbai

Thursday, October 6, 2011

KBC 5 Jackpot Question for Today -06-10-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 06-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

Which Indian town faced the tragedy of a gas leak at the union carbide factory in 1984?

A: Bhopal
B: Raipur
C: Gwalior
D: Jaipur


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 7th-Oct-2011 8:30PM IST.

Answer:

A: Bhopal

Wednesday, October 5, 2011

KBC 5 Jackpot Question for Today -05-10-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 05-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

In a game of football, which of these determine victory or defeat?

A: Runs
B: Points
C: Sets
D: Goals


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 6th-Oct-2011 8:30PM IST.

Answer:

D: Goals

Tuesday, October 4, 2011

Big Boss Season 5 Contestants Welcome Video

Bigg Boss 5 - House inmate No. 1, Shakti Kapoor


Bigg Boss 5 - House inmate No. 2, Pooja Bedi


Bigg Boss 5 - House inmate No. 3, Shonali Nagrani


Bigg Boss 5 - House inmate No. 4, Nihita Biswas


Bigg Boss 5 - House inmate No. 5, Shradha Sharma


Bigg Boss 5 - House inmate No. 6, Mandeep Belvi


Bigg Boss 5 - House inmate No. 7, Raageshwari


Bigg Boss 5 - House inmate No. 8, Vida Samadzai


Bigg Boss 5 - House inmate No. 9, Mahek Chahal


Bigg Boss 5 - House inmate No. 10, Sonika Kaliraman


Bigg Boss 5 - House inmate No. 11, Pooja Missra


Bigg Boss 5 - House inmate No. 12, Gulabo Sapera


Bigg Boss 5 - House inmate No. 13, Laxmi Narayan Tripathi

Big Boss Season 5 Contestants Photos

Here are the 14 Contestansts of Big Boss Season 5.

  1. Bigg Boss 5 - House inmate No. 1, Shakti Kapoor
  2. Bigg Boss 5 - House inmate No. 2, Pooja Bedi
  3. Bigg Boss 5 - House inmate No. 3, Shonali Nagrani
  4. Bigg Boss 5 - House inmate No. 4, Nihita Biswas
  5. Bigg Boss 5 - House inmate No. 5, Shradha Sharma
  6. Bigg Boss 5 - House inmate No. 6, Mandeep Belvi
  7. Bigg Boss 5 - House inmate No. 7, Raageshwari
  8. Bigg Boss 5 - House inmate No. 8, Vida Samadzai
  9. Bigg Boss 5 - House inmate No. 9, Mahek Chahal
  10. Bigg Boss 5 - House inmate No. 10, Sonika Kaliraman
  11. Bigg Boss 5 - House inmate No. 11, Pooja Missra
  12. Bigg Boss 5 - House inmate No. 12, Gulabo Sapera
  13. Bigg Boss 5 - House inmate No. 13, Laxmi Narayan Tripathi
  14. Bigg Boss 5 - House inmate No. 14, Juhi Parmar
Shakti Kapoor

Pooja Bedi

Shonali Nagrani

Nihita Biswas
Shradha Sharma
Mandeep Belvi
Raageshwari
Vida Samadzai
Mahek Chahal
Sonika Kaliraman
Pooja Missra
Gulabo Sapera
Laxmi Narayan Tripathi
Juhi Parmar

KBC 5 Jackpot Question for Today -04-10-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 04-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

Which of these would usually glow in the dark?

A: Silver
B: Aluminium
C: Radium
D: Gold


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 5th-Oct-2011 8:30PM IST.

Answer:

C: Radium

Monday, October 3, 2011

KBC 5 Jackpot Question for Today -03-10-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 03-10-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

Which of these Hindi is used to describe a hunger strike?

A: Annagiri
B: Annaprashan
C: Annakut
D: Anshan


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 4th-Oct-2011 8:30PM IST.

Answer:

D: Anshan

Thursday, September 29, 2011

KBC 5 Jackpot Question for Today - 29-09-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 29-09-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

Which of these phrases would you use while asking someone to sit down?

A: Shab Ba-Khair
B: Tashreef rakhiye
C: Nosh Farmaiyye
D: Kushaamdid


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 30th-Sep-2011 8:30PM IST.

Answer:

B: Tashreef rakhiye

Wednesday, September 28, 2011

KBC 5 Ghar Baithe Jeeto Jackpot Question of the Day - 2011

This page will contain all the Ghar Baithe Jeeto Jackpot Question asked in KBC 5 (Kaun Banega Crorepati 2011.

Send your answers to KBC 5 on time to win Rs. 1 lakh.


ALL you wanted to know about Company Deposits

This article is a part of [Personal Finance Tips to master your own Finances]

Company Deposits are simply nothing but fixed deposits in companies that earn a fixed rate of return over a period of time. Company deposits are really down-to-earth products. The influential advantage of the company deposits is its plain simplicity. Company deposit is understood even by the most novices among the investors community.

Have you ever wondered the logic behind why pure vanilla flavored ice cream sells more than any other flavor? Similar logic is just as true when it comes to the company deposits vis-a-vis many other modern investment options.

With the meltdown of NBFCs almost a decade ago, company deposit market had a major slow down, but volumes still remain significant and there are loyal investors who prefer company deposits to other investment products.

Advantages of Company deposits:

* Assured return.
* Higher interest when compared to bank deposits.
* Low risk when compared to stock market investments.
* Service at your doorstep.
* Lock in period in most of the cases is 6 months only.
* If the interest income is less than Rs.5000 in one financial year, then NO TDS.

Risk in Company Deposits:

Company deposits are basically unsecured. That is if the company defaults in repaying the interest or principal, the investor will not be able to recover his capital. As a company deposit holder, you don’t have any lien on any asset of the company, in case it goes into financial difficulties. This makes the company deposits a risky investment option.

Identifying Risky Company Deposits:

One of the important tasks in investment planning in company deposits is to identify the risky company deposits and avoiding them. If you find any of the below symptoms in any of the company deposit scheme, then it is better to avoid such company deposit schemes.

* Poor credit ratings like A or lesser ratings.
* Companies making losses.
* Companies that skip dividends.
* Companies that offer higher than 3% to 4% of bank deposit rates.

Checklist for choosing right company deposits:

There are some good investment options in company deposits. Also there are some bad investment options. If you know how to select the right company deposit then company deposits can be really an interesting investment option in your portfolio.

* You need to ignore all the unrated companies and need to choose companies with the rating of AA or higher.
* Choose the company with better reputation within a given rating grade. If you read business papers and magazines periodically, it is not difficult for you to check the credentials of the company.
* Take the help of the qualified financial advisor in choosing the right company deposit. But mind you, there are very few reputed and qualified financial advisers.
* Company deposits need to be spread over a large number of companies in different industries. By this, you can diversify your risk. Irrespective of the rating and reputation of the company, don’t invest all your investments in a single company deposit scheme.
* You need to check on the servicing level and standard of the company. You need to ignore companies that don’t care or care little about issues like sending interest warrants and principal cheques.
* After investing in a company deposit, you need to constantly track the company’s credit rating. The times are uncertain and downgrades are rampant.
* Check the company’s balance sheet for its asset back up, profitability, reserves, existing borrowings and loans.

Every investment has its distinct features and benefits. Likewise each investor has specific risk taking ability and personal needs. Professional investment planning needs matching of the product benefits and features with the financial objectives of the investors. So one need to weigh the various alternative investment options like bank deposits, debt funds vis-a-vis company deposits before making a choice.

The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Founder and Director of Holistic Investment Planners a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in.

KBC 5 Jackpot Question for Today - 28-09-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 28-09-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

Which of these insects is known for producing lights?

A: Tilchatta
B: Jugnu
C: Tataiyya
D: Titli


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 29th-Sep-2011 8:30PM IST.

Answer:

B: Jugnu

Tuesday, September 27, 2011

Google Celebrates 13th Birthday with Party Doodle

Google Celebrates 13th Birthday with Party Doodle. Today's doodle is a little more elaborate than most previous birthday doodles.


Google is the dominant search engine is into many other services like web email provider (gmail), web documents, advertisements,maps, video (Youtube), social networking (Google Plus) etc. Google has it's own Internet Browser (Chrome) and mobile Operating System(Android).

Site Statstics/Page view or Site Hit Counter now available in blogger

A good news for Bloggers. We used to use third party Widgets or Hit Counters to show Site Statistics or Page Views in blogger. These Hit Counters are very much unreliable as sometimes they become unavailable thus not counting the Total Page View accurately.

We have a solution to this problem from blogger now. Blogger has introduced a new Widget called Blog's Stats. Using this widget, you can show total page view of your blog in your site. You can show All Time, last 30 Days or last 7 Days data. Also, you have different styles and animations.

To add blogger Blog's Stats to your blog, follow below steps:
1. Go to Design of your blog.
2. Click on "Add a Gadget" at the location you want Blog's Stats Widget
3. Click on Blog's Stats
4. Customize your view and Save.




Monday, September 26, 2011

KBC 5 Jackpot Question for Today - 26-09-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 26-09-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

With respect to income in India, what does the 'B' stands for in the abbreviation BPL?

A: Behind
B: Backward
C: Below
D: Beside


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 27th-Sep-2011 8:30PM IST.

Answer:

C: Below

Thursday, September 22, 2011

KBC 5 Jackpot Question for Today - 22-09-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Ghar Baithe Jeeto Jackpot Question for Today - 22-09-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

In which of these films does the lead hero play double roles?

A : Chandini chowk to china
B : Whats your rashee
C : Kites
D : Kaminey


Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 23rd-Sep-2011 8:30PM IST.

Answer:

D : Kaminey

All you wanted to know about Mediclaim Policy

This article is a part of [Personal Finance Tips to master your own Finances]

Health care costs are sky rocketing day by day. Therefore the need for having a mediclaim policy for you and your dependents has grown. Suppose you have to undergo some medical treatment or need to be hospitalized for certain reason, then a mediclaim policy will be of immense help to you in covering your health care expenses. The reason is Mediclaim offers protection in case of unexpected medical and health care emergencies.

Hospitalization expenses in case of illness, disease or accident will impose a heavy financial burden on individuals and families. This is where the mediclaim policy comes in handy. The mediclaim policy can reimburse the hospitalization expenses or can pay the hospital directly on behalf of you.

A mediclaim policy provides a health cover of certain amount of money. This amount depends on the amount that the insured person was insured for.

The mediclaim policy can be taken for an individual or for an entire family. Some insurance companies allow a discount on the premium if the policy is taken for a family.

Insurance companies have fixed some age limit for medical test. If the individual is below that age, then he or she need not undergo medical test for taking mediclaim policy. If the individual is above that age limit then he needs to go for medical test.

If any pre-existing disease has been found out in the medical test, then those diseases will not be covered under the mediclaim policy for a waiting period of a first few years.

If you have a mediclaim policy from your employer, that may not be sufficient. Employer may cover the employee and not necessarily his entire family members. And moreover these policies are not portable and cannot be individualized if you leave the job. Employer provided policies cannot be transferred to another employer in case you switch your job. Also employer provided policies will give you coverage as long as you are employed. Once you retire you may not be having coverage.

It is really unfortunate that only after your retirement you need health insurance at the most. If you plan to take a fresh policy after retirement, insurance company will not cover the pre-existing diseases at that point in time. Though your employer provides a health insurance policy it is better for you to take a separate health insurance policy at least with a small amount of coverage.

The coverage amount of the health insurance policy need to be decided based on your health consciousness, your family health history, and the class of hospital you choose for treatments.

If you are not health conscious or you don’t do regular exercises or you don’t follow proper diet or you frequently take outside food or don’t go for annual health check-ups then it is advisable to go for more sum insured coverage in your mediclaim policy.

If your family has got any adverse health history like heart disease, high blood pressure, stroke, diabetes, kidney disease, cancer, any form of paralysis, or any hereditary disorder then you need to choose higher coverage amount in your health insurance.

If you will be choosing high class hospitals for your treatment then you need to go for higher sum assured. If you will be choosing medium level or low level hospitals then you can choose the coverage amount accordingly.

Also you need to revise your health insurance coverage amount based on the changes in the above factors and the changes in the medical cost. Also the increase in the age needs to be considered for deciding the coverage amount.

The icing on the cake is you get tax benefit under section 80D for the mediclaim premium paid. For senior citizen the limit under this section is Rs.20000 and for others it is 15000.

Most people don’t think about health insurance very often. But it comes to mind first when a loved one is sick. Mediclaim policy is one of those things everyone knows he or she should take but usually puts off until a more opportune time. Living without a mediclaim policy is like going out on a rainy day without an umbrella or a raincoat.

If you have not covered adequately yourself and your dependents with mediclaim policy so far, then now is the right time to take action. The fact that you are reading this article shows you have decided to stop procrastinating, delaying and have answered the ancient question, “If not now, when?” with “NOW!”.

The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Founder and Director of Holistic Investment Planners a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in.

Wednesday, September 21, 2011

How to send Jackpot Question's Answer to KBC5

Here are all the methods by which you can send your Answer for Jackpot Question to KBC5.

For IDEA Subscribers:

Dial 55456 ’11′ for Option A
Dial 55456 ’12′ for Option B
Dial 55456 ’13′ for Option C
Dial 55456 ’14′ for Option D

For BSNL Landline Subscribers:

Dial 505 2525 ’11′ for Option A
Dial 505 2525 ’12′ for Option B
Dial 505 2525 ’13′ for Option C
Dial 505 2525 ’14′ for Option D

All other subscribers:

Send your answers by SMS to 5252525

BSNL mobile subscribers can send SMS to 52525
Similarly IDEA subscribers can SMS their answers to 554567

To answer Jackpot question by SMS, type ‘KBCQ’ answer (your option A/B/C/D) and send it to 5252525.
For example if your answer is option A, then SMS KBCQ A to 5252525.

KBC 5 Jackpot Question for Today - 21-09-2011

This is a part of [KBC 5 Ghar Baithe Jeeto Jackpot 2011 Questions]

Here is the Jackpot Question for Today - 21-09-2011 asked by Mr. Amitabh Bachchan in KBC 5 (Kaun Banega Crorepati 2011 shown in Sony Entertainment Television)

Question:

Which element is used in the glass tube of a clinical thermometer to measure temperature?


A. Iodine
B. Mercury
C. Platinum
D. Radium

Send your answer to KBC to win Rs. 1 Lakh. Lines are open till 22nd-Sep-2011 8:30PM IST.

Answer:

B. Mercury

Mutual Fund SIP: for Short term or Long term?

This article is a part of [Personal Finance Tips to master your own Finances]

It may look very strange when everyone is advocating Mutual Fund Sip for long term, what is the necessity for this debate on ‘Is Mutual Fund SIP for Short term or long term?’.

Theoretically doing a Mutual fund SIP for long term will work for investors. But for practical reasons we need to commit a Mutual Fund SIP for short term. That is we need to break that long term into many 6 months or 1 year periods and commit your Mutual Fund SIP for first 6 month or 1 year.

Then at the end of 6 month or 1 year renew your SIP for another 6 month or 1 year. You need to renew like this till you complete your predetermined long term period.

You may think it is an unnecessary paperwork and waste of time. But you will be completely convinced when you have finished reading this article.

Contribution towards Mutual Fund SIP Changes:

How much you are contributing towards Mutual Fund SIP changes over a period of time.

1. At the beginning of a career a person will be able to commit Mutual Fund SIP for small sum of amount. As he progresses in his career, he or she will be able to increase his contribution towards Mutual Fund SIP.
2. Similarly, when someone reaches a stage where he need to spend more on kid’s higher education, daughter’s wedding, buying a house or meeting a major financial commitment, it is difficult for him to continue the same amount of Mutual Fund SIP contribution.
3. So whenever you renew your Mutual Fund SIP at the end of 6 month or 1 year, you can look at your cash flow position and based on that you can renew the Mutual Fund SIP for the increased amount or the same amount or the reduced amount.

Portfolio Review:

Also it gives you a chance to review your portfolio with your advisor once in 6 months or 1 year.

1. The scheme which you have chosen for Mutual Fund SIP is performing well when compared to its peers or not? You need to review this periodically. The scheme may turn out to be a laggard.
2. The scheme may be performing well when you have chosen for doing SIP. But over a period of time, it could have derailed from its performance. This is something like our cricket players. They will be in a good form in the game for some period of time. Then they will lose their form after sometime. So you need to periodically check up whether the fund is performing NOW or not.
3. If you are committing a Mutual Fund SIP for 10 years, then the advisor may not be coming back to you whenever you call him for reviewing your portfolio. If you commit for 6 months or 1 year he or she will be definitely coming to you for renewing the Mutual Fund SIP. You can have a review with him or her at that time.

When you commit Mutual fund SIP for long term, generally we ignore to review it. It may generate poor returns. You can avoid this by periodic review.

Equity Exposure in Overall Portfolio:

How much equity exposure you can give to your overall portfolio can change the amount of Mutual Fund SIP in equity and debt.

1. As the age goes up, your ability to take risk comes down. So you need to change your equity mutual fund SIP contribution periodically.
2. How close or distant you are to achieve your financial goals will also decide your equity exposure. If you have got long period to achieve your financial goal then you can have more equity exposure. When you have short period to achieve your financial goal, then you need to reduce your equity exposure.
3. Rebalancing your portfolio based on your predetermined asset allocation will also decide your equity exposure.

All this can change your Mutual Fund SIP amount in equity funds.

So committing a Mutual Fund SIP for long term looks good on paper. For practical reasons we need to commit for short term and renew it at the end of every short term till achieving our financial goals.

In this regard, instead of committing a Mutual Fund SIP just like that, having a long term financial plan and committing Mutual Fund SIP based on that plan will be really fruitful. This will make a solid difference in achieving your financial goals.

The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Founder and Director of Holistic Investment Planners a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in.

Sunday, September 18, 2011

10 Things To Do Before You Retire

This article is a part of [Personal Finance Tips to master your own Finances]

Don’t put off today what you can’t afford to do tomorrow. In spite of the world wide pension crisis and a growing acceptance that we must plan and save for our retirement, the harsh reality is we are actually not saving enough. Research reports reveal that only 15% of the individuals are saving sufficiently for their retired life. Here are a few tips on things to do before you retire so that your retired life is more comfortable and enjoyable.

Get Rid of All Your Debts:

If you are taking a housing loan, personal loan, car loan or any other loan make sure that you will be repaying them on or before your retirement. You need to choose the term of the loan in accordance with your retirement age. You can enjoy your retired life when you have 100% financial freedom, not when you have to repay your loans.

Protect Your Emergency fund:

Emergency expenses can happen any time. But the possibility goes up during the old age. So we need to enhance the emergency reserve year on year based on the inflation and change in your expense levels. Emergency fund will give you a sense of security and also you need not touch your other investments during emergency where you need to pay pre-closure penalty. Also don’t forget to refill the emergency fund once you met an expense out of emergency fund.

Establish a Retirement Budget:

You need to visualize your retired life well in advance and need to create a budget for your retirement. That is you will not be going to office. So the expenses on transport and clothes may come down. Also you will have more time to spend. You may need to spend more on leisure travel and health care.

Examine Your Cash Flow:

Take a close look at your cash inflow as well as outflow. Is there going to be any income after retirement? Like rent, royalty…. Would there be any unwanted outflow during retired life? Like paying life insurance, or SIP. At times during your beginning of the career , you could have taken a policy where you need to pay premium up to the age of 60. But now you may plan to retire at 55 itself. So you need to realign your existing policy and other investments in sync with your retirement age.

Grow Your Retirement Corpus:

Find out how much corpus you need to have when you retire so that you will be having complete financial freedom. A professional financial planner will of great assistance to you in this regard.

Develop a withdrawal strategy:

How are you planning to withdraw your cash outflow during retirement from the retirement corpus? Monthly, quarterly, half yearly or annually? Through Sytematic Withdrawal plan in mutual funds or by way of dividend or interest. All these will have a great impact on the corpus you need to accumulate. So you need to decide in advance.

Minimize taxes:

Your retirement corpus and retirement income need to be tax efficient. You need to pay taxes as and when the fixed deposits matures irrespective of that you withdraw interest or reinvest under a cumulative option. But you need to pay interest only when you withdraw from the mutual funds. Careful selection of investment vehicle can reduce your tax during the retired life.

Get Sufficient Mediclaim coverage:

The moment you retire, your employer will stop covering you under the group mediclaim. So you need to plan for your individual medical cover well in advance. At old age the medical expenses are inevitable. If you have not planned it properly the all your retirement plan will become a mess.

Consider Inflation adjusted annuities:

The monthly income you need when you retire is not going to be the same even after 5 years of your retirement. Inflation will increase your retirement expenses year after year. So year after year your retirement income needs to go up.

Oversee estate planning:

How your fixed assets and financial assets need to be distributed to your legal heirs? Create a WILL. You can avoid creating relationship problems to your next generation because of your left out wealth.

The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Founder and Director of Holistic Investment Planners a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in.

Thursday, September 15, 2011

All you wanted to know about Mutual fund ELSS

This article is a part of [Personal Finance Tips to master your own Finances]

There are so many tax saving investment options; how Mutual fund ELSS Schemes stand out from all other options?

A Mutual Fund ELSS is similar to diversified equity funds. That means the fund manager can invest in shares of various companies across various industries. The difference is ELSS has got the added tax benefit, something a diversified equity fund does not offer.

ELSS is part of the Section 80C instruments which are cumulatively eligible for a deduction from income up to Rs.1 Lakh. This gives the tax payers benefits from 10 per cent to 30 per cent (excluding the educational cess) based on their current tax slab.
The other tax saving investments like NSC, PPF will give only 8% return p.a whereas the Mutual Fund ELSS has got the potential to deliver more than 12% return p.a. Also the lock-in period in Mutual Fund ELSS is 3 years and with NSC it is 6 yrs lock-in and with PPF it is 15 years. Among the various tax saving investment option, Mutual fund ELSS has got the least lock-in period.

Ulips are also one of the tax saving investment options. But now everyone has realized that Ulips has got heavy front loaded charges. Moreover smart investors want to separate their insurance from their investments. They no longer see insurance as an investment; they see insurance as a protection plan. So the smart investors go only for pure term insurance and reject ulips.

This is how Mutual Fund ELSS stands out of the crowd.

Before deciding to go for Mutual fund ELSS, here are some points to ponder over. First check your overall portfolio. Does it need more equity exposure? If yes then you can go for ELSS; if no then you can go for PPF or NSC.

Second thing is to keep in mind, the equity investments are for long term, say 5 years or more. Though the lock-in period in ELSS is 3 years it is better to invest with a time horizon of 5 yrs or more.

Also investors need to keep in mind, SIP is the best form of investing in mutual funds and ELSS is not an exception. So doing an SIP in ELSS is a good strategy to be followed.

The poor performing ELSS has given around 10% annualized return in the last 5 years whereas the best performing ELSS has delivered around 25% annualized return in the last 5 years. So investors need to be careful in choosing the right ELSS scheme. Past performance, risk adjusted return, consistency are a few parameters to be evaluated in selecting a best performing ELSS scheme. Investors also can approach financial advisors for selecting the right scheme.

There are two groups of ELSS investors. Majority of investors belong to the first group. They will wake up late to these tax saving investments. For salaried individuals, it is typical that they will be informed by their accounts department somewhere around end of January to provide proof of tax saving investment immediately or else extra tax will be deducted from their February salary. At the neck of the moment, the choice ends up being guided by convenience alone. They tend to think about tax first and investments later. As long as something saves tax, its real benefits and features as an investment are paid less attention to. That means the investments will be chosen more for convenience than for suitability.

There is another group of investors. Though this group is a very small group, it is a very smart group. They will not rush for tax saving scheme at the last minute. They will plan in advance. That means they will have more time to choose the right product. They will save tax as well as choose a good investment option. They will also check whether this particular tax saving scheme will suit their overall portfolio or not; will this tax saving investment is going to fit into their comprehensive financial plan. That means they will consciously choose an investment which saves tax as well as helps them in achieving their financial goals like children’s higher education, buying a house, retirement plans.

So…now just check up which group you are in.

The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Founder and Director of Holistic Investment Planners a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in.

Wednesday, August 24, 2011

How to move Gmail signature to top

If you have created a signature in Gmail, while sending a Reply to a email or while forwarding an email, you might face this issue. Your Gmail Signature will come at the bottom of the mail you are Replying or forwarding.

If you want to move Gmail signature to top, follow the below steps. It's very easy.


  • Select the Options Icon at the Top Right Corner in your Gmail page
  • Then Click on Labs
  • Now Press "Ctrl + F" to Search for "Signature tweaks" in Labs
  • Enable it by clicking the Radio button against Enable
  • Now hit the Save button at bottom of the page.
  • Now go to the Signature Editor in Options -> Mail Settings.
  • Add email delimiter (--) to your signature as it will not be automatically added
  • For example see below signature:


    That's all. You are done. If you want a nice Quote to add to your Signature, get is from here.

Tuesday, August 23, 2011

Eight Simple Ways to Plan your Taxes

This article is a part of [Personal Finance Tips to master your own Finances]

You have got only a few more months to complete this financial year. Very soon you will get a call from your company to submit the proofs for tax saving investments. So why don’t you spend some time on organizing your tax plan?

1) Proper Allocation of Annual compensation:

Restructuring your salary with some additional components can reduce your tax liability. This restructuring doesn’t require any additional cash outflow. The following components can be efficiently used to reduce your income tax liability.

  •  Transport allowance to the extend of Rs.800 is exempt
  •  Medical expenses which are reimbursed by the employer are exempt to the tune of Rs.15000
  •  Food coupons like sodexo or ticket restaurant are exempt from tax up to Rs.60000
  •  Individuals who are all living in a rented accommodation can include House Rent Allowance ( HRA ) as a part of their salary
  •  Leave Travel Allowance (LTA) can be part of your salary as this can be claimed twice in a block of 4 years.

2) Effective Utilization of Tax Exemption:

As far as possible utilize the maximum exemptions available under section 80 C, 80 CCF and 80 D. The maximum exemption available under section 80 C is Rs. 100000.

Under this section Rs.100000 investment or contribution can be made in PPF, NSC, Life insurance premium, 5 year FD with banks and Post offices, Mutual Fund ELSS, Principal Repayment of housing loan, and the tuition fees paid for children’s education.

Under Section 80 CCF, you can invest up to Rs.20000 in infrastructure bonds.

Under Sec 80 D, the premium paid towards the mediclaim policies are exempt. The maximum limit of exemption is Rs.15000 and for senior citizens the limit is Rs.20000 and for covering senior citizen parents there is an additional exemption to the extend of Rs.15000.


3) Properly Structure your Housing Loan:

The Principal repayment of a housing loan is eligible for a deduction up to Rs.100000. The interest paid on a housing loan is eligible for a deduction up to Rs.150000. If the housing loan is for a sizeable amount, then it is possible that the principal repayment and interest may exceed the specified tax exemption limit. To utilise the maximum tax benefit, an individual can consider going for a joint home loan with his/her spouse or parent or sibling. This will make sure that both the co-owners can claim tax deductions in the proportion of their holding in the loan.

4) Tax Plan in Sync with Overall Financial Plan:

You should not do your tax plan in isolation. You need to do it in sync with your overall financial plan. So a tax plan is not only to just save taxes and also it should assist you in achieving your other financial goals like children’s higher education, buying a home or retirement.

5) Avoid Last Minute Rush:

In fact the right time to do the tax plan is the beginning of the financial year. If you postpone your tax planning even now and do it in the last minute, then you will not be able to choose the right investment. In the last minute rush, you will be forced to choose a scheme which gives the proof immediately. Is the investment sound and profitable? Is there any other better options? You will not be able to choose the best scheme and you may settle with a mediocre one.

6) Invest Some Quality Time:

Before investing your money, you need to invest your time. You need to take some quality time to understand the various tax saving options and compare their benefits and limitations.

7) Check for Future Commitments:

Some tax saving options like NSC or ELSS need only onetime investment. Some other tax saving options like PPF, Ulips need periodical investments year after year. You need to be careful in choosing a tax saving scheme where you need to commit for periodical future payments. You need to check on a few things like; do you need such a future commitment? Will you be able to meet the future commitments at ease? The law may change and you may not get any tax exemption for your future payments. Would you consider the scheme irrespective of tax benefit for the future payments?

8) Changed Your Job; Redo your Tax Plan:

Did you switch your job in the middle of the financial year? Then you need to redo your tax plan with consolidating the income from both the companies. It is advisable to inform the new company about the income during the particular financial year from the old company. So that your new company will deduct the right amount of TDS. Otherwise you may need to pay extra tax at the end of the financial year.

Whenever you change your job, you need to have a sitting with your financial planner or tax advisor. So that the required changes in your tax plan can be done proactively.

With proper tax planning you can reduce your tax liability; save more; invest better and become wealthier.

The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Founder and Director of Holistic Investment Planners a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in.
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