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How to transfer balance from EPF to NPS – Should you transfer?

Last updated : 14th March, 2017 PFRDA has now notified the procedures (on 6th March 2017) through which EPF members can transfer their PF balance to NPS (New Pension System). In Budget 2016, one of the proposals  was to provide one time portability or transfer option from EPF to NPS. In this post, we will focus on procedures to transfer balance from EPF to NPS, current hurdles and whether it makes sesnse to transfer?  Requirements and Process for transferring EPF to NPS You need to have a NPS Tier 1 Account. You can open NPS account through employer, banks/entities registered as PoPs, ... Read More »

[How to] Invest in Mutual funds in India – online / offline options

Last updated : 15th March, 2017 Mutual funds are one of the best options for Retail investors to invest their money in different asset classes. It gives benefit of professional management of your money, offers liquidity, allow diversification and tax benefits. A.   Quick overview of process to Invest in Mutual funds 1) Submit KYC Form – KYC is must for the first time investors and need to be done ONLY ONCE and valid for all Mutual fund houses. You need to submit KYC form along with the Proof of ID & Address. You can submit it to your nearest ... Read More »

Cost Inflation Index for Capital Gain – Base changed in Budget 2017

Last updated : 16th February, 2017 In Budget 2017, the base for Cost Inflation Index is changed. lets see what the change is and how it wil impact the investors. Currently, for cost inflation index, the base year is 1981. which means if you have any property acquired before 1981, you need to get the fair market value in 1981 and then apply indexation. Now, with the proposed changed, the base year will become 2001. This means, if you have any property acquired before 2001, you need to get the fair market value in 2001 and then apply indexation. In ... Read More »

CKYC –  (Central Know Your Customer) mandatory for new Mutual fund investors

Last updated : 11th February, 2017 From Feb 1, 2017, new investors in mutual funds will have to do CYKC (Central Know Your Customer) before investing. The CKYC will replace the existing KYC.   What is CKYC? Central KYC Registry, or CKYCR, is the new central KYC process that will replace the multiple KYC process exists for various financial transactions, such as opening bank accounts, buying life insurance, and investing in mutual funds. The government has authorised the Central Registry of Securitisation and Asset Reconstruction and Security Interest of India (CERSAI) to manage the CKYC Registry process. What is the ... Read More »

[How to ] check and respond Income Tax Notice for large Cash deposit

Last updated : 11th February, 2017 Income Tax department has launched “Operation Clean Money / Swachh Dhan Abhiyan initiative., to investigate the large cash deposits made after demonitization. They are sending notices to more than 18 lakh people. If you have deposited large cash after demonitoization, the chances are that you will or may already have got a notice from Income Tax. You need to respond within 10 days of getting the message. If you have made large deposit, but have not received any message yet, please check your e-filing account to see if there is any notice for you.  You ... Read More »

Pradhan Mantri Awas Yojana 2017 – New Home Loan Intetest Subsidy

Last updated : 4th January, 2017  Prime Minister Modi has now enhanced the scope and benefit under Pradhan Mantri Awas Yojana (PMAY) in 2017. This is done to boost the affordable housing and middle income category of the housing sector. The scheme was initially launched in June 2015 to provide ‘Housing for All by 2022’, offered beneficiaries an interest subsidy at the rate of 6.5% for a loan amount of up to Rs 6 lakh. Now the scope and benefit of this scheme is now enhanced as follows: In Urban Areas – Loans of up to Rs 9 lakh taken ... Read More »

BHIM App – How to Setup, Use, Transfer Money – Step by step guide

Last updated : 2nd January, 2017 Prime Minister Narendra Modi launched BHIM app on last Friday for promoting cashless transactions. BHIM (Bharat Interface for Money) is a mobile payment app and an aggregator for all UPI Based services offered by banks.  BHIM is a digital payments solution app based on Unified Payments Interface (UPI) from the National Payments Corporation of India (NPCI). It is not a mobile wallet like Paytm or Mobikwik as you can send money to anyone with or without BHIM App as long as they have bank account. It uses UPI through which all the major banks ... Read More »

Pradhan Mantri Garib Kalyan Yojana (PMGKY) 2016 – Undisclosed Income declaration deposit scheme

Last updated : 24th December, 2016 Pradhan Mantri Garib Kalyan Yojana (PMGKY) – Undisclosed Income declaration deposit scheme Government has brought in second income disclosure income called Pradhan Mantri Garib Kalyan Yojana. The new IDS has been notified along with other provisions of the Taxation Laws (Second Amendment) Act, 2016, on 16th December and has come into effect from 17th December, 2016. You can declare your unaccounted income under this scheme from 17th December 2016 to 31st March, 2017.  Key Features of Pradhan Mantri Garib Kalyan Yojana People can declare their undisclosed or black money under PMGKY Scheme till 31st March, ... Read More »

How to convert black money into white money

Last updated : 20th November, 2016 Government has banned Rs 500 / Rs 1000 notes to tackle the problem of black money, corruption, fake currency. Many people are now searching for ” How to convert black money into white money”. It is one of the leading search term on Google. I do not encourage black money or methods mentioned below to convert black money to white money. Now people may be reaching you to get their black money converted or giving you lucrative offers. The intention of this post is to raise awareness that some of these methods are common ... Read More »

How to withdraw PPF from another bank branch

Last updated : 5th November, 2016 Can I withdraw PPF from any SBI branch?  Do you want to withdraw PPF without visiting the home branch where you opened your PPF account? Have you moved from that city?  Lot of members have sent my enquiries as to how to withdraw PPF from other SBI branch. In this post, I will share details about PPF withdrawal from any branch without visiting the base or home branch. Step by step guide for PPF withdrawl Download Form C for PPF withdrawal  –   ppf-withdrawal-form-c Get following documents – Proof of ID and address (Aadhar, Passport, ... Read More »

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