JavaTechies / Personal Finance

Recently, eligible spends for Leave Travel Concession (LTC) have widened. The government announced a LTC Scheme, whereby salaried individuals can avail exemption when they buy specified goods and services, including new life insurance policies. This exemption can be claimed for deemed LTC fare and is applicable till March 31, 2021. So, when you buy a new life insurance policy, you can now get tax* benefits under the LTC scheme on your life insurance policy. You don't know about - LTC Cash Voucher Scheme : link

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   

Hello Readers, Here, I able to collected short note about personal financial budget 2017-2018 year. 1) Income Tax rate cut to 5 % in the income slab between Rs 2.5 lakh and Rs 5 lakh from 10% Effect on Tax Payer : Positive. This will reduce the tax liability of all tax payers across slabs. The percentage reduction of tax liability will be greater for tax payers in the lower slabs. 2) Rebate under Section 87A reduced from Rs.5,000 to Rs.2,500 and the applicable limit has been reduced from taxable income of Rs.5 lakh to Rs.3.50 lakh. Please refer below illustration to understand the effect of both the above changes: 3) 10% surcharge on individual income above Rs 50 lakh and upto Rs 1 crore to make up for Rs 15,000 cr loss of due to cut in personal I-T rate. The existing surcharge of 15% for total income above Rs 1 crore remains unchanged. Effect on Tax Payer :Negative. This will increase the tax liability of tax payers with total income more than Rs.50 lakh and upto ...

Myth & Fact all about Mutual Fund Myth : Mutual funds are stock market investments  Fact : Mutual funds are diversified investments that invest across stocks, bonds, money market instruments and combination of these. Mutual  Myth: One can only invest large sum in mutual funds  Fact : An investor can start mutual fund investment via Systematic Investment Plan (SIP) mode and invest regularly with amount as small as ` 1000. Myth: SIP gives positive returns  Fact: Mutual fund SIPs are subject to market risks and there are no guaranteed returns in these tools Myth: SIPs are beneficial for short-term  Fact: There are different mutual fund options for short-term and long-term goals. SIPs have historically given better returns when invested for long-term. Myth : Net Asset Value (NAV) is the performance indicator of a mutual fund.  Fact : NAV is only the price per unit of your invested fund. The decision to select a mutual fund sho...

Hello Cassandra Developer,           Today, we will talk about how does indexes work into Cassandra, mainly about SASI. Motivation factor : It's help you to fulltext search  It's can be get by secondary index on cassandra columns it's help you to get unpredicate search query on cassandra data model  How does it work (SSTable - secondary indexes):   Maintain complete indexes data into single SSTable( kind of concurrent thread safe map collection in java) Since it's single SSTable, it has memory issue and need good RAM when huge data. it's called as "Classic C* Indexes" Support few basic comparison operation ("="). It's based on SSTable format. Support into Cassandra older version (less than 3.3) SSTable need to play with memory & disk operation for indexes data. How does it work (SASI): Maintain the Token tree base format - (B tree collection concept in java) It's create the different separate SASI fo...

Cassandra, it's not new now, mostly all developer should know it somehow or might read some where. if you are not part of this big data column base database development usage then grab it and learn it for your next scaling problem at data level, what you are or you would face in project work :) this help you !!! Today, let's me give you detail about cassandra materialised view (new feature in 3.0 cassandra) and how it's work. Also, how it's defer than apply index on column in your single data model table. Real life issue with cassandra : Data model best practice  suggest you to make read faster, use query base data model, do not worry about write or duplicate of data at the cassandra level, it can be handle by your application But, it's not easy to handle this at application level when we simple change one or few row and it's effect to update many data model even if it's part of one entities or one record object. What was solution pre cassa...

February 23, 2017 3 Mistakes to Avoid When You’re Challenging the Status Quo You have a great idea that will improve operations, but it goes against the way things are done. Now the challenge is to break through the bureaucracy to get your idea implemented. When you’re taking the role of rebel at work, there are a few pitfalls to avoid: Going solo.  It’s tempting to think you can do it all on your own. But you can’t. Temper your ego and collaborate with others to advance your idea. Bringing in fresh perspectives will only help. Flunking the pitch.  When you’re ready to share the idea, keep your pitch short — no more than 15 minutes — and leave lots of time for discussion and questions. Engagement is the first step to buy-in. Giving up too soon.  Set small goals and appreciate the small wins along the way. When you hit a setback, reflect on your positive progress to help you stay the course. Copy right by  Harvard Busi...

February 22, 2017 Build Your Own Personal Board of Directors If you’re looking to rise through your organization’s ranks, but aren’t sure how, consider creating a personal board of directors. This informal group comprises six to eight people who can help with your professional development.  There are three types of people you should include.  First, you need fans — people who support you and will deliver tough feedback with kindness and good intent.  Second, recruit potential sponsors — senior leaders who can advocate for you when it’s time for a promotion.  Third, include at least one critic. These people may be the toughest to approach, but they can be the most valuable.  Look for people who have deep-seated perceptions of you and are likely to block you from advancing. If you enlist their help, you may be able to shift the relationship into a positive one and use their criticism to grow. copy right by  Harvard Business ...

How to get Original RC/License document from PMC RTO office ? coming soon :) 

Equities over medium to long term is a wealth creating asset. However, it is the nature of the equities to move up and down over the short-term. Trying to time the market over the short-term is extremely challenging. One solution is to maintain a long-term horizon and ignore the short-term fluctuations. On the other hand, SIP (Systematic Investment Plan) helps take advantage of ups & downs in market and mitigate risk arising from market volatility, provided the SIP is continued over long periods of time. There are abundant stories highlighting the importance of long term investing and the importance of averaging through SIP investing. But, nothing can tell it better than the numbers do. Consider this, SIP of Rs 3000 per month in HDFC Top 200 Fund since inception (Oct 11, 1996) has created wealth to the tune of Rs ~82 lakhs as on Dec 30, 2016, despite the fact that the journey was bestrew with many global/local events like tech bubble, Asian crisis, Pokhran blast, Lehman crisis...

1. Select Challan 280 Go to the tax information network of the Income Tax Department and select Challan 280. Click here to go to the government website and pay your tax 2.Enter Personal Info For individuals paying tax, select  . Please choose the Assessment Year correctly  . Choose   if you are paying taxes after the Financial Year has ended. View mandatory fields to be filled in Note:  Choose "(100) ADVANCE TAX" if you are paying taxes during the financial year. Choose "(400) TAX ON REGULAR ASSESSMENT" if you get a demand notice from the Tax Department. 3.Double check info You will be redirected to the net banking page. Double check the information entered here and enter the income tax amount to be paid in the income tax field. Tip:  You can leave surcharge, education cess, interest and penalty blank. 4. Check Receipt (Challan 280) This is your Challan 280. You will be able to see details about your payment on...

Hello Friends, I got time to write this page after long time. Here, How would you have 83945 RS on your taxes ?       1) Equity Linked Savings Schemes (ELSS) ELSS the tax saving investment with shortest lock-in period and the potential of higher returns. Equity linked savings scheme or ELSS, as they are popularly known, are diversified equity mutual fund schemes that provides capital appreciation and also qualifies for tax saving. Amongst other tax saving instruments u/s 80C, ELSS not only has the potential to deliver higher returns but also has the shortest lock-in period of three years. Key Features : Type of Scheme: Equity-oriented Scheme Asset Allocation: 80-100% equities Scheme Objective: Capital Appreciation Tax Benefits : Investment up to a maximum of ` 1,50,000 is eligible for deduction under section 80 C. You can save a maximum of ` 46,350/- (depending on your income-tax slab) In addition to saving tax, the investor...

Dear PF Friends, Good Afternoon, If you are in touch with news paper or latest news then you'd heard about UAN. Don't worry if you don't know ..even i was not aware about this two day before ..of course it was launched on 17th OCT by new government and it's from EPFO.  EPFO has launched an Universal Account Number (UAN) based Member Portal to provide a number of facilities to its members through a single window •  Activate your registration to avail various facilities such as UAN card download, member passbook, updation of KYC information etc. •  As of now, only active members (contribution received through ECR for the wage month October 2013 onwards) would be able to register themselves. •  For registration, obtain UAN from your employer alongwith your member ID. •  Your mobile number would be required to activate registration.   Let's find out, wheter your employer has processed and enrolled UAN for you. here is clue, you can check ...

Today, I would like to give you a DIWALI gift. this gift is not physical gift and it could help you to buy medical insurance that would be proper,sufficient & could be best fit to your requirement So, Let us discuss few check list that would help you to find best or suitable medical insurance for you and it's as following . Don't buy too low or too high medical insurance. Your Medical insurance should cover few regular charges. Your Medical insurance should extendable and customization in future. Your Medical insurance should renewal and eligible even older age. Don't only depend on your company's medical insurance, you must have your personal one too. You should have maximum medical insurance if possible  Don't go with only bigger and credited company only, if any small or new company approve by IRDA and you are getting good medical insurance with lower premium then please go ahead. Bonus point : In this technology world, you'd able ...

Dear friends, Today, I would like to teach you how to access and get balance of your provident fund account ? Firstly, you have to register your self with one of the following valid ID proof. PAN Card AADHAR ID Bank Account Number Voting ID Driving License Number Passport Number  Ration card number and also you have to give valid and your personal mobile number for same registration too. Please follow this link for EPF registration link Once you have done the registration successfully, you are ready to access your EPF balance information. Please login with your above given valid ID proof and mobile using this link  If you have logged in successfully then you'd able to see home page of EPF. Please follow below steps to download your EPF balance passbook as PDF file. Click to "Download E Passbook" tab  Click to "Download E Passbook" first link in that tab Select State (mostly company's registered state or HQ...