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Finance

5 Things to Look for in a Trading App for Faster Stock Research

online-stock-trading

The participation of people in the stock markets are increasing rapidly in India. In the past few years brokers across India have reported a surge in account openings. Today many budding traders and investors are looking to make a career in the stock markets.

But as new entrants in the markets, not all will have the knowhow and access to relevant information. HNI investors, stock market professionals and Fund houses have an array of resources and access to information available to them through which they trade in the markets.

But a young investor with a small capital, will need to do his own research and avail information from the exchange websites of NSE and BSE. To make lives easier for such investors, today many Trading applications are available. They also provide detailed information and data which if interpreted correctly can be quite valuable for trading in the stock markets.

With a variety of stock trading apps available on both the Apple App Store and Google Playstore, here are top 5 features you should look for in a trading app!

  1. Ease of Use

A basic requirement for any software or application would be its ease of use and the quality of its user interface. An app may have all the features in the world, but if the user experience and accessibility is not simple enough, then the app becomes worthless.

According to the founder of Zerodha, Mr. Nitin Kamath, one of the reasons how his broking company became the largest in India was because of his trading app Kite. He goes on to say that while founding Zerodha, he noticed how all his competition’s software’s were very complicated to use and looked obsolete. He then emphasized on creating an App which anyone could use and hired students from engineering colleges for this purpose.

By just creating a simple user interface and then adding features, Zerodha has become one of the most successful start-ups of India.

  1. Charting Tools

As a trader, be it for stocks, commodities or currencies, the most important feature would be an intuitive charting software. In Technical Analysis, charts refer to a series of prices of an underlying asset displayed on a graph. Traders, analyse such price charts with an attempt to predict the future price movements.

Before the dawn of the internet, traders used to manually enter data and draw charts over varying time frames. But today, charting has become much more detailed. With the help of AI and Data analytics, traders can not only view stock prices, but also overlay a lot more technical indicators over the price of the underlying.

Most traders would prefer apps which have an easy to use and comprehensive charting software with the ability to add many indicators and calculations.

  1. Fundamental Data

The above feature would benefit short term traders the most. But there should also be a feature which should benefit the long term investor in you. So a trading app should contain informative data for fundamental analysis.

These include key data such as information about the company’s management, shareholding pattern, Financial results and Algorithmic calculations of important accounting ratios such as PE Ratio, Profitability ratios and liquidity ratios.

  1. Scans

Every trader and investor has a unique strategy which they use for most of their trades. Someone could be a Price Action trader whereas another could rely on the RSI and a combination of other technical indicators.


But for anyone, finding stocks which satisfies their strategy could be quite cumbersome as there are over 6000 stocks listed on the exchanges in India. In such a case, Apps should provide a variety of scans, which anyone can enter and narrow down on the stocks which meet the requirements of the trader.

For example, let’s say Rakesh is a day trader who relies on candlestick patterns and the RSI to make positions in a stock.

In order to find which stock is showing a positive candlestick pattern and at the same time has a positive divergence or strength in the RSI, he would have to individually look at the charts of every stock. But with the help of a scanner, a list of stocks which meet his criteria will be easily available for him to trade on the go.

  1. Instant Stock Based News

News and information play a significant role in the financial markets. News is what drives people’s sentiments in the market. Any positive or negative event can be good for one company and the same could be bad for another. But to know what event has occurred when and where is what makes news so relevant.

For instance, let’s take the example of a recent deal between Reliance Industries and Google. Media outlets reported that Google was in talks to buy a stake in Reliance’s Jio platform. The deal was announced later, but the stock price of Reliance had already shot up by 5% in anticipation of the news.

So an essential feature of a trading app would be to have access to instant news that may impact the overall stock markets or any individual company.

Author’s Bio

Raghav Agarwal is a graduate in Business Administration. With a keen interest in the world of financial markets, he loves to read and write about various financial instruments. Currently he is working with Elearnmarkets.com as a member of the Knowledge team.

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Finance

Download Now HDFC RTGS Form

hdfc-rtgs-form

HDFC RTGS Form is used for sending the amount overhead of Rs 2 lakh through any HDFC Bank Account. HDFC NEFT Form is used for sending money lower than Rs 2 lakh through any HDFC Bank Account. You are required to fill the RTGS Form / NEFT Form for sending money. Now you can Download HDFC RTGS Form / NEFT within here for sending of money in India. Instapdf is the top place to download HDFC Bank RTGS Form, HDFC NEFT challan document.

Similarly, you can download the HDFC Bank RTGS form / NEFT Pdf file, HDFC Bank RTGS/NEFT Challan print out, challan document. This site similarly giving Application for RTGS Transfer of HDFC Bank /HDFC Bank Actual Time Gross Payment Apps etc.

HDFC RTGS System and HDFC NEFT System

Bank provides RTGS (Real Time Gross Settlement System) & NEFT (National Electronic Fund Transfer System) which permits a well-organized, safe, cost-effective, and consistent system of allocation of money from bank to bank in addition to from remitter’s account in a specific bank to the recipient’s account in alternative bank transversely the nation.

  • HDFC RTGS Timings: Time for allocation money over RTGS is Monday to Friday: 10 AM To 3:30 PM and Saturday (apart from 2nd and 4th): 10 AM To 3:30 PM.
  • HDFC NEFT Timings: Time for allocation money over NEFT is Monday to Friday: 10 AM To 4:30 PM and Saturday (apart from 2nd and 4th): 10 AM To 4:30 PM.

HDFC RTGS Form Requirements

In command to simplify an RTGS approach of allocation, one requests to refill the RTGS procedure of the bank after which the dealings are to be originated. HDFC is one of the foremost banks in the nation and has a moderately simpler submission procedure for its RTGS built dealings. The HDFC Bank RTGS Form entails the subsequent material from your finish:

Recipient Details

  • Name of the recipient
  • Account number of the recipient
  • Address of the recipient
  • Branch name and address of the recipient bank
  • Bank IFSC code of the recipient
  • The money you wish to send through RTGS.

Specifics refer to you

  • Name of the aspirant
  • Account number of the aspirant
  • The cash deposit by the aspirant
  • Contact specifics of the aspirant – Mobile number and email address
  • If the aspirant is a non-HDFC client, they essential to give their address.

Further Details

  • Name and code of the division from which your famine to pledge the course.
  • Date of procedure start
  • Time of procedure start

When you completely provide all this information, you may require to place your sign at the top of the form. The bank would then give the receiving print of the submission document. The HDFC Bank RTGS Forms ruins the similar for equally HDFC and non-HDFC clienteles. You can use the HDFC RTGS form for the NEFT document too. You have to assign your cheque end to end through the application document and the name of the recipient ought to be “HDFC Bank Ltd – RTGS”. If you have any worries concerning slightly of the arenas, you can contract out to any HDFC bank staff and they must be clever to aid you over.

Charges for HDFC Bank RTGS & NEFT 

The charges of RTGS and NEFT in HDFC Bank are mentioned under the table:

You can do NEFT AND RTGS through HDFC Bank mobile application. The best disperse in Online NEFT is It is free of charges.

  Amount of RTGS   Transaction Service Charges (Exclusive of GST)  
  Rs.2 lakhs and up to Rs.5 lakhs  Rs 15  
  Above Rs.5 lakhs  Rs 15  
  Amount of NEFT   Transaction Service Charges (Exclusive of GST)  
  Up to Rs.10,000/-  Rs 2   
  Rs. 10,001 and up to Rs. 1lakh  Rs 2   
  Rs. 100001 to Rs 200000  Rs 10  
  Rs 200000  Rs 10  
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Finance

What Does Public Liability Insurance Actually Cover?

If you’re a business, sole trader or are working as a contractor and have heard you need some kind of public liability insurance, despite hearing something about its importance, you might not actually know what it actually entails. In essence, public liability insurance is a means for people to cover damage to property or an injury that they cause while at work. This could mean that you’re covered for repair to the property that was damaged, medical bills if a person was injured, or legal fees should the case go to court. There are many more nuances related to public liability insurance, so in this article we take a look at what these policies specifically cover.

What public liability insurance does cover?

Even if you don’t like the look of a public liability insurance quote you’ve researched, without it you may have to contend with some very serious financial implications down the road. These implications occur because public liability insurance isn’t actually required by law in Australia, meaning there are many instances where people are not adequately protected. Perhaps the most basic aspect of public liability insurance is covering damage to property. Insurance in this case will cover the costs related to repairs or replacements of items that are accidentally damaged, which could be either big or small. Public liability also covers injuries due to an individual’s actions in the workplace, whether it be their own or someone else’s. The costs covered here will be related to things like medical bills and rehabilitation costs, although each case will be different. Legal costs are also covered by public liability in the event that you have to contend with a liability claim. It’s important to know that even if their claim doesn’t hold up in court, you may still need to pay the cost of the case out of your own pocket.

What doesn’t public liability insurance cover?

Public liability covers a lot, but it doesn’t cover everything. For example, while a liability claim might be successful, it may still not cover extra costs, including things like punitive damages, taxes and fines. Public liability insurance also doesn’t cover instances where property under the control of your business is damaged or when the property of employees is damaged. In the case of injuries to you or your staff, as these are not third parties, workers compensation insurance will instead need to be pursed. Although it should be obvious, any illegal or deliberately targeted behaviour that results in damage to property or injury to people will not be covered. There are a few other exceptions to the rule that are also not commonly considered, such as asbestos, pollution, aircraft products and any product recalls, although these things are quite uncommon for most workplaces.

Public liability insurance is valued for a reason There is a reason that many employers require contractors to have liability insurance cover – this form of insurance provides excellent peace of mind to both employer and employee, ensuring that any issues that occur in the workplace create a financial burden. After all, it only takes one small unforeseen accident to cause a smaller workplace to fold, and this can make the small cost of entry seem like a relative bargain in comparison!

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Finance

Know the Benefits of Transferring a Home Loan

When you transfer your outstanding balance amount from your current lender to a new lending institution, it is known as a balance transfer. In this case, the new lender will pay off the outstanding amount to your current lender who transfers all loan-related documents to the former. You then pay the loan EMI to your new lender according to their interest rates and terms and conditions. Furthermore, there are several benefits that one can avail by opting for home loan transfer. Some of them have been mentioned below –

  • Lower interest rates –

If you are currently paying the home loan at a significantly high interest rate, then you can consider transferring your outstanding home loan balance to a new lender who is offering better interest rates. It will help in reducing the repayment burden for you.

Furthermore, opting for home loan transfer at a reduced interest rate will enable you to save a substantial amount in the long run.

  • Better service terms

Besides the reduced interest rate, the home loan balance refinance will also enable you to enjoy better service terms offered by the new lending institution. For instance, you can avail shortened tenor, better customer service, nominal foreclosure and prepayment charges when you switch your home loan.

  • Top up loans

One can also avail other facilities like top up loans when refinancing their outstanding loan amount. A top up loan is an additional funding option that one can avail on top of their home loan without meeting any eligibility criteria for submitting any documents. It has no end-use restriction and can, therefore, be used to achieve a host of financing needs like education fees, medical expenses, weddings and so on.

Some lending institutions also provide pre-approved offers to borrowers which makes the loan application quick and hassle-free. Such offers can be availed on multiple financial products like loan against property, home loans etc. You can check your pre-approved offers by entering your name and contact information.

When to Opt for a Home Loan Balance Transfer?

You need to know the right time to switch your home loan balance to make the most of the benefits.

  • The main objective of a home loan balance transfer is to reduce the interest rate on home loan as well as save a substantial amount. Consequently, you should only switch when there is a significant difference in the interest rate being asked by your current and new lender. You can also use a home loan balance transfer calculator to compute the reduction in your EMI amount.
  •  If you have just availed a home loan and are therefore still in the initial years of your repayment period, you can carry out a home loan balance transfer. Since at this stage, the interest component in your EMIs is higher than the principal amount you will be able to avail the benefits of reduced interest rates. On the other hand, if there are only a few years left in your repayment period, there is no point undertaking home loan refinance as at this stage.

Home Loan Balance Transfer Procedure

You can follow the steps to apply for home loan balance transfer –

Step 1: Make an application to your current lender, informing them that you want to transfer your home loan balance. You may need to pay a foreclosure fee.

Step 2: Collect all your documents along with the NOC or no objection certificate from your lender. Additionally, you also need to know what a home loan NOC and why you should get it.

Step 3: Submit the essential documents to your new lending institution.

Step 5: You will receive a confirmation message from your old lender regarding the closure of your loan account.

Step 6: Once you receive the confirmation, you need to pay all the requisite fees to your new lender along with the EMI.

Documentation

Given below are the documents that you need to submit during home loan transfer –

  • KYC documents
  • NOC
  • Property documents
  • For salaried employees – salary slip, Form 16 and account statement for the previous 6 months
  • For self-employed individuals – income tax returns for last year, balance sheet and profit and loss statement, business registration certificate.

You must also go through the eligibility criteria specified by your new lender to ensure that you are eligible for a loan balance transfer. Even though this may vary for lender to lender, there are some standard requirements you must meet. Such as, there must be no history of defaulting on your payments and your property must be ready to occupy or already occupied. Other than that, you must carry out a cost benefit analysis while opting for a home loan transfer facility.

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Finance

Online Payday Lenders

Payday Loans

The main things you need to know about online payday lenders

The interest rates on payday loans are often quite high but it is important to know that you should always compare them with your credit card’s interest rate. Also, make sure that you get a good interest rate because it will save you a lot of money.

How do payday loans work?

Payday lenders like to get money from you via their loans. You pay the loan by cash or debit card, usually you can get a loan up to three months at a time, but you can pay as little as one day for the loan. 

When you apply for the loan, you will usually be asked to pay an upfront deposit of the money in advance. The amount of the loan, in most cases, is usually in pounds sterling. You can get a payday loan at any bank branch or online service, but the most popular online service that allows you to pay your loans by bank card is EasyPay.

Frequently asked questions

1. What kind of fees does the Online Payday Lender charges?

The Online payday lender charges some fees like the interest rate, fee and the withdrawal fee. The interest rate for the loan is very variable and you should be able to read a table with the interest rates for each online payday lender to know their fees.

2. What are the benefits of an Online Payday Lender?

Online payday lenders provide more flexibility in your ability to pay your bills online. They have more options to pay your bill online and they are more convenient to use. You can even use them on your mobile phone if your phone offers an internet access feature.

Let us get down to the hard truth

The Best Online Payday Loan: Payday Cash

Payday Cash is an online payday loan website, which helps borrowers who want to get loans from their lenders. It’s not just a payday loan website. It’s also a platform for the borrowers to apply to payday loan agencies that are available in their city or state. It’s just a platform, but it’s a good one. There are more than 600 online payday lenders in the world, and they provide a great service, with the cheapest interest rates among them.

Payday Cash provides the best service to the online payday lenders. You can get a loan through their platform, from a financial institution in your own country. You have the choice of the following types of online payday loans: Payday Loans of all types – You can apply for payday loans with all types of loans. If you want to make a short term loan, this is the easiest way to get one.

Further information

Payday lenders are often portrayed as greedy and unscrupulous people who prey on poor people. However, these are not true people. As a small business owner who has always been a part of the world of business, I have been dealing with these payday lenders for the last 12 years. I know exactly how these guys work, how much they have to offer and how they go about their business. 

The best payday lenders are really not greedy or unscrupulous at all. They are honest people who are willing to take your money with no strings attached. The truth is they all make money from the interest they charge the borrower. In fact, many of these lenders even allow the borrower to choose the interest rate that they charge. 

The interest rate they charge is set by their own rules. So, when you decide to pay your payday loan online, you know the right interest rate is set for you. Here’s the list of payday lenders you’ll find in the list below. The list of Online payday lenders are different depending on which country you’re in.

Something one must learn about Online Payday Lenders

1. Online Payday Lenders Offer a Discount Of Up To 85% And If you are not a financial expert yet, you can use a coupon and save up to 85%. 

2. They are not illegal, but you have to pay the interest charges upfront and they will only let you use your loan until the interest is paid back. This is different from most payday loans that you can borrow from your bank or a friend. So, I would highly recommend you to use a credit card for online payday loans because you will pay the interest only once and it’s cheaper. 

3. The interest rate on payday loans is high, especially on a weekly loan, because the lender does not give you the opportunity to pay the interest back. 

4. Most online payday loans will give you interest that is a higher than 6%. In the above cases, the lender is not going to make the interest of a week. 

5. Some payday loan lenders offer the advantage of cash back if you use their online service. 

6. Payday loan providers will not disclose the amount of the loan to you.

What everyone has to know about Online Payday Lenders

Do the research before you make a decision. Don’t just pick a payday loan because it looks like the best thing out there, but do your research to know how the service works and if the loan is suitable for you.

Do take the time to make a review before you sign up, and make sure you do it right. Read the website and understand everything you are getting yourself into. If you can’t afford to pay the loan back, you should at least pay it back as fast as possible.

Never ever get a loan for a month in advance. This may seem obvious, but the more you delay getting a loan, the more likely you are to end up in a mess.

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Finance

How To Get Instant Loans: A Brief Overview

Instant Loans, I am sure by the name itself you can very well understand what I am talking about it is the payday loans or the cash loans which is most easily available to those who are in immediate need of cash and has a regular source of income to make them competent enough to be eligible for the loans.

It is the primary aid in case of shortfall of cash; hence it provides liquidity in the market. If you are suffering from any cash shortfall, it is the best-suited option for you. Herein, borrowing money is a good solution to fill in the need of your money and you will be free from the worry of late payment of bills, or bounced checks, etc. One can overlook the drawbacks, as long as it can pay the installments of the loan. It is even helpful in the case of overcoming. When you need to obtain emergency funds for unexpected expenses or pending bills, it is preferable to avail the cash loans.

The instant loans come with a handful of advantages out of which some have been listed below;

·         These loans are often granted based on the salary or the income of the employee, and to your surprise, the same is not required to be approved by the employer. Hence when employees are willing to take the loan, no consent of the employer is required.

·         No relevance is given to the debt status of the borrower; all the lender wants to inquire is about the current status.

·         The repayment is flexible due to the technical advancements and digital trends, and can also be linked to your salary account or the business account wherein the amount is being debited at the pre-decided date.

Basis of granting loans

·         The amount of loan is being decided by the lender, according to the business or the salary of the borrower.

·         The loan can be insured both by the borrower and the lender; however the same has to be decided by them. It is according to their wish, the loan should be insured or not.

Documents required for applying for an instant cash loan

  • A copy of id card of the borrower which may be in the form of passport or license etc.
  • TAN Number.
  • Completed application form, which is being provided by the lender, and the borrower is required to fill in all the particulars containing the correct details and has to self attest the same taking the responsibility of putting in the right facts in the form.

Alternatives to the Instant Cash Loans

There are various other options from where you can get personal loans such as the YeLo app. You can get instant loans approved using the YeLo app which is available on mobile devices. The YeLo App Walkthrough is provided on the Recharge channel on YouTube where Govind explains the YeLo app and guides that how to get your loans approved through YeLo App.

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BusinessFinance

What is the GST Registration Process and What are It’s Requirements?

GST-Registration

India in 2017 made a major indirect tax change, as goods and services tax was introduced. It subsumed almost every other indirect tax out there (except a few). It has since then brought many bigger taxation changes and the processes have changed a lot as well. one of the biggest benefits scored out of this new tax is removing the cascade effect of taxation on the goods and services provided. Also, GST has embraced digital use, as everything related to it is completed online through GST portals. Many steps are included for a business owner bog or small, and the first step is theGST registration process.

GST registration

GST registration is a  step that is compulsory for all those business owners who have a turnover of 40 lakhs  (2019 April onwards)or more. In hills states the minimum limit is of 10 lakhs. If the business turnover is 40 lakhs or above then it is counted as a taxable entity and thus requires registration.

As mentioned above, registration for GST is compulsory for business owners. If one fails to do so and continues doing business then it is seen as a tax offense. For those stricter actions are taken and the business is also heavily penalized.

All those needs to get themselves registered for the GST are listed below:

  • Resident/ non-resident taxable person
  • Businesses with 40 lakhs or more as turnover
  • Those who are taxed previously under excise, service taxes and VAT
  • Input service distributor and agents of supplier
  • E-commerce aggregator supplier
  • Taxable people under reverse charge mechanism
  • Those who supply database retrieval and access services and online information

Requirements

As GST registration is a governmental process, there is a certain list of documents that are mandatory and need to be uploaded during the procedure. The compulsory documents for registration are:

  • Aadhaar card
  • PAN card
  • Address proof of business
  • Business registration proof/ incorporation certificate
  • Promoters or directors photographs along with identity and address proof
  • Canceled cheque or bank account statement
  • Letter of authorization
  • Digital signature

The entire GST registration process has many steps and takes some time. one should keep the documents and their scanned soft copy ready, as they are to be uploaded at varied stages of registration.

If one does not register for the GST, they are tagged as tax evaders and will be penalized. the penalty of tax evasions and making genuine errors in the form of short payments is 10% of the pending tax amount. The minimum value of the penalty is fixed at 10,000 INR.

Process of registration

The process that one needs to follow for online registration for GST are:

  1. Visit the GST portal and click on the register menu of taxpayers (normal).
  2. Part A
  3. Then click on new registration and click on (I am a taxpayer).
  4. Choose the district and state from the drop-down menu.
  5. Now enter the business’s name and PAN number.
  6. Then entire the mobile number and emails for receiving OTPs and finally click on proceed.
  7. Now check the email address and mobile number for OTP and then enter them in the given box and click on proceed.
  8. After this, your mobile number and the Email id will receive a TRN number which should be noted down.
  9. After this go to the GST portal, choose the TRN ( temporary reference number) option and enter the code and the captcha. And click on proceed.
  10. After this again an OTP will be sent which needs to enter. Click on proceed.
  11. After this, the application status will be mentioned in the drafts. Click on the edit option.
  12. Part B (fill in various details and submit documents)
  13. Photos
  14. Business address proof
  15. Taxpayer constitution
  16. Bank account details
  17. Authorization form
  18. Now got to the verification page and click on the declaration and submit the form. Submission can be done through:
  19. EVC (OTP on mobile number)
  20. DSC for companies
  21. E-sign (OTP on aadhaar mobile number)
  22. After successful submission, A reference number or ARN  will be sent to registered number and email.

One can use the ARN nimber to check the application status on the GST portal itself.

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BusinessFinance

Leading Multinational companies in India

leading-multinational-company in india

Many top-notch and prestigious multinational companies reside in India. India is one of the most competitive nations across the world and aims to attract a few of the most leading multinational companies. Along with being potentially fit for attracting popular organizations, India has an impressive workforce. Hence, the capable and upcoming citizens of India are a boon to our country today. Multinational corporations have undeniably had an influential impact on the Indian economy. Multinational companies are thus playing a crucial role in promoting maximum efficiency of resources, enhancing the technology, enhancing the Indian economy, and decreasing unemployment. With that said, here are the top 10 multinational corporations in India.

1. Microsoft:
Founded by Bill Gates, Microsoft is one of the leading multinational companies in the world today. The headquarters of Microsoft is situated in Washington. This company has a value of 750.6 billion dollars and continues to lead its way to the top. The company is popularly known for its operating systems, Internet Explorer, software products, and edge-web browsers. 

2. Coca-cola:
Founded by John Stith Pemberton, Coca-Cola is one of the maximally consumed non-alcoholic drinks. Coca-Cola provides a wide range of soft beverages such as Sprite, Limca, Thus-up, Georgia Tea, Minute-maid juice, etc. this company was established in 1886. The headquarters of Coca-Cola is situated in Kolkata, India.

3. Nestle:
Henri Nestle founded nestle in the year 1912. This leading company has a global presence and is known explicitly for its transnational beverages and goods. Few of the most popular Indian Nestle products include KitKat, Maggie, Bar One, and Milkmaid. The headquarters of Nestle is situated in Vevey, Switzerland. 

4. Apple Inc:
Founded by none other than Steve Jobs, Apple is one of the most widely known companies in the world. Along with having a value of about 926.9 billion dollars, this company has set a high mark in the business industry. Few of their products are iPad, iPhone, AirPods, AppleWatch, and MacBook. 

5. International Business Machines Corporation:
IBM is yet another brilliant I.T. company that has a global presence. This company was founded by Charles Ranlett Flint in the year 1992 and had a value of about 132.3 billion dollars. The headquarters of IBM is situated in Bangalore, India. This company specializes in business consultancy, computer hardware, storage solutions, etc. 

6. Sony Corporation:
Akio Morita and Masaru Ibuka founded Sony Corporation in the year 1994. This Japanese company has grown as a pioneer in the electronics and entertainment industry. Thus, this company, in a nutshell, aims to design a few of the most innovative and insightful entertainment units.

7. TATA Group:
TATA group is an established company founded by Jamsetji Tata in the year 1868. TATA Group consists of about 100 countries operating independently under a network of services like TATA Global beverages, Tata Teleservices, Tata Chemicals, Tata Steel, Tata Communications, and Tata consultancy services.

8. Google:
Google is a popularly known company founded by Larry Page and Sergey Brin in the year 1998. This American-based company provides a network of services like Google Sheets, Google docs, cloud storage, social networks platforms, Google slides, etc. 

9. Infosys:
Infosys is one of the prominent companies in India. This company was founded by N.R. Narayana Murty and established in the year 1981. This multinational company has offices in Middle East Asia, USA, Europe, China, and Japan. The headquarters of Infosys is situated in Bangalore, India. This company has a net worth of 10.93 billion. 

10. Aditya Birla Group:
Aditya Birla Group is another leading company founded by Shet Shiv Narayan Birla in the year 1857. This multinational conglomerate has hired about 120,000 employees worldwide and has offices in nearly 35 countries. The headquarters of Aditya Birla Group is situated in Mumbai, Delhi. 

About Tofler:
Tofler is a leading market research-based website that aims to provide its customers with deep insights for making informed decisions. This company aims to provide detailed descriptions based on your business to help you save your money and time. The chief purpose of Tofler is to make your life a bit easier and to help in expanding your business potentially.

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Finance

Life Insurance for Children

Should you purchase life insurance for your children? Well, it’s a tricky question because typically life insurance is to protect investments and those making a salary. Your children are probably doing neither at this time. Whole life insurance protection can be a good option if you understand it.

People typically give their kids life insurance to lock in premiums, cover funeral expenses for the tragedy of an early death and allow for parents to build up a savings stockpile for college. Whole life insurance gives out a death benefit, or parents can add in a child rider.

Child Rider in the Sky

Child riders can be added to your own life insurance, and it provides another death benefit. Plus, for many people, the cash value can build up over time as long as you pay the premiums. The premiums don’t increase as the benefits do, so you’ll be paying the same price no matter what. Plus, the coverage can double the year that your child becomes an adult. In addition, when your child becomes an adult and starts his or her own journey on the life insurance track, they often get the option to continue paying the child premium with their adult life insurance. This ensures that your child will be able to afford and qualify for life insurance.

Protecting Against Problems

If your child wants to get adult life insurance, then they can turn in the child policy and get the insurance’s cash value. Plus, parents can borrow against it as long as they keep up the premium payments. Sometimes having that financial buffer will make all the difference with the unpredictability of life right around the corner.

Having a Whole Life Insurance For Child policy also protects them from potentially being disqualified from other problems later in life. Once they have some form of insurance, they have the ability to get insurance, no matter what happens to them as an adult.

Don’t Sacrifice You For Your Child

Now, while giving life insurance to your kids is okay and has a lot of great pros, be sure not to forget about yourself. You as an adult are far more likely to have problems that require you to use a life insurance plan, and you need to make sure that you are ready. Only once your life insurance is taken care off, should you consider buying some for your kids. Then everyone can reap the benefits together.

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Finance

Medical Bill Income Tax Exemption and Steps to Claim It

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In the recent past, the number of health issues and their treatment costs has gone up by leaps and bounds all across. The main culprit for this includes poor lifestyle choices and changing food habits. As per a leading report, Indians pay around 78% of their medical costs out of their own pockets.

As a result, many companies in India pay their employees the medical allowance to cover up the costs. It is an allowance which is a fixed amount paid by some companies to employees on a monthly basis.

However, when it comes to saving some income tax, the medical allowance can’t be claimed as a cut from the taxable income. Medical allowance needs to be entirely taxable under the head ‘income from other sources’ in such cases.

For anyone who does not know how to calculate tax on income can take the help of the income tax calculator. It is an online tool that can help you know the taxable income at the click of a button. The income tax calculator is generally made available free of cost at many finance websites and apps.

Reimbursement of medical bills by the company

The Income Tax Act allows a series of deductions and exemptions. One of these exemptions is related to medical bills and similar costs incurred during the fiscal year.

All these costs/expenses include those incurred for self and family members/dependents treatments. The medical expenses’ reimbursement to salaried class employees by employers are not taken under the umbrella of the taxes.

However, to claim this exemption, the following conditions need to be fulfilled such as:

  • The medical expenses incurred on self, spouse, dependent parents, siblings and children can only be claimed for exemption
  • You can also relate these medical expenses with medicines brought from pharmacies or medical shops. It also includes treatments of a disease undertaken at a clinic, private and public hospital.
  • You need to submit these discussed medical bills only with your employer. You should always note that you can’t claim any reimbursement at the time of filing the Income Tax Return (ITR)
  • When it comes to claiming the income tax deduction for medical expenses in a year, there is a limit that you need to adhere to. You can claim tax exemption in lieu of medical bills along with transport allowances up to a deduction of Rs.40,000 per year.
  • For the financial year 2018-19, a standard deduction of up to Rs.40,000 has been proposed for pensioners and salaried professionals. The amount is in lieu of travel, medical costs reimbursement and any other proposed allowances.
  • A salaried employee working for a company either is eligible to receive a fixed medical allowance or is entitled a reimbursement by the company.

Read Also: Quick Insights on Calculating Income Tax on Your Interest Income

How to claim the benefits?

The only condition for claiming the deduction is to provide the certificate of the diseases that you or any other eligible members may suffer from. You can obtain the same from a specialist medical officer. He/she should be practicing at a private or public hospital from where you availed the medical services.

The medical specialist should also possess a degree in which he claims to have the specializations. The Medical Council of India must approve the degree.

However, the medical expenses’ deduction can’t be claimed if an insurance company does your reimbursement.

However, if the reimbursement done by the insurance agency is lower than the actual costs, you can claim a tax deduction for the remaining amount.

If you are a salaried employee and wish to claim income tax deductions, you are now aware of what you can claim and how. If you are still unsure, you can contact a known income tax expert to help you out. All the best!

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