JavaTechies / Personal Finance

The Central Government amended the Payment of Gratuity Act of 1972 under the 7th Central Pay Commission roll out in 2017. Under the amendment, the ceiling on tax free gratuity was doubled to Rs20 lakhs from Rs10 lakhs earlier. Most people are not aware of the element of gratuity in their salary irrespective of being a government employee or working in private sector. Under the Payment of Gratuity Act of 1972, you are eligible to receive gratuity if you have rendered continuous services for a minimum of five years. This Act is applicable to employees of factories, railways, oilfields, ports, mines, plantations and any establishment that has 10 or more employees. It is not compulsory for establishments or organisations to pay gratuity if they do not fall under the Gratuity Act. If such an employer, still chooses to pay gratuity, the amount paid is tax free. However, the calculation is slightly different in such cases. We shall explore the calculation in detail, later in the articl...

"A smooth sea never made a skilled sailor." - Franklin D. Roosevelt   HDFC Equity Fund has launched 24 years ago on 1 st  January 1995. From an initial corpus (AUM) of ~ Rs. 52 crores in Jan’ 95, HDFC Equity Fund has grown from strength to strength and has an AUM of ~ Rs. 23,500 crores as on June 30, 2019. The Fund has stood the test of time over the last 24 years in which the market witnessed series of domestic and global events such as Asian Currency Crisis, Kargil War, Dot Com Bubble, Global Financial Crisis and multiple state and central elections resulting in market volatility. While such events and market volatility would have given cold feet to an ordinary equity investor, an investment through Systematic Investment Plan (SIP) would have helped those investors who would have continued with their SIP regardless of market volatility. Below table gives investment summary of SIP of Rs. 10,000 per month since the inception of the fund: SIP per Month Total Inve...

Wish you happy Christmas & New Year 2019 in little advance. This year is little busy with many professional & personal work so first post i was able to publish on JAN 2018 and this is late post on today. Now start your 2 nd  innings care free, your retirement corpus is 100% tax free. The Government on December 6, 2018 has approved tax exemption limit for Lump sum (one-time) withdrawal from NPS corpus at the time of retirement from the present 40% to 60%. At the time of retirement, a NPS subscriber can withdraw 60% of the accumulated corpus through lump-sum mode and remaining 40% has to be compulsory annuitized. Now, with this change entire 100% (60% lump-sum withdrawal and 40% annuity) in NPS will be tax free.

Wish you happy new year 2018. Let's start year with understanding the your tax saving investment base on your age group. and here is interest chart for those investment components . Source : ICICIIDirect. 

Mutual Fund Model Portfolio 2017 Courtesy : IIFL    

Why FMP and Debt Fund Better Than Fixed Deposit ?  Courtesy by : IIFL