Guru Gyaan

Tips that new generation can follow to cut down on debt burden

High interest debts are the worst debts, clearing them should be the first priority. Generally credit card loans, or personal loans carry heavy interest rate, therefore, targeting them first will make sense. Today’s generation is all about the so called ‘SWAG’ lifestyle, where patience is minimum and hustle-bustle is maximum. This swag lifestyle can make

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Why you must focus on investing as much as possible for the longer term

Many millennials ask if they will ever be rich with those small shots of investment every month. Be it a recurring deposit or a systematic investment plan in an equity mutual fund, most financial planners advise investments in a disciplined manner to achieve seemingly unachievable goals depending on the time on hand and the risk

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Is the Sukanya Samriddhi Yojana Better than PPF?

Thinking of investing in the PPF and fixed deposits for your little daughter’s education or marriage? The Sukanya Samriddhi Yojana (SSY) could be a better alternative. The scheme, which was launched in January as part of the Prime Minister’s Beti Bachao Beti Padhao initiative, was already eligible for deduction under Section 80C. The Budget has

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Borrowers Beware, as The Bank is Always Right!!!!

The RBI guidelines on defaulters now allow banks to classify any defaulting borrower as non-cooperative and then a wilful defaulter With sweeping regulations being made by the Reserve Bank of India (RBI) on recovery of loans and non-performing assets (NPAs), the new mantra now seems to be “the Bank is always right”. Gone are the

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What if a Cheque Bounces? Here’s a Guide to the Legal Recourse Available to You

Bounced cheques are one of the most common offences plaguing the financial world. According to the Supreme Court, there are over 40 lakh such pending cases in the country. A cheque can be dishonoured for various reasons, the most common being insufficient funds in the account of the person drawing the cheque, and a mismatch of signatures with the bank records. But what do you do if you land a

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How home loan borrower can benefit from tax deduction

The Income Tax Act provides a separate head for tax of ‘Income from House Property’ under Section 22 to Section 27. Interest paid or payable on money borrowed for the purchase, construction, repair, or reconstruction of a house is allowed as a deduction. In case of a self-occupied property treated as such, the maximum deduction

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