Saket Kumar Singh (FinWealth)

Ther are certain deadlines proposed by  the law makers which is to be considered to avoid pain in 2018. 1. PAN AND AADHAR LINKING the due date to link your aadhar with your pan card is now 31st december 2017 which was earlier before july 2017.This has been done due to falling difficulties in linking process. 2. PROVIDING AADHAR TO FINANCIAL INSTITUTIONS Government has asked banks, financial institutions, and intermediaries to ensure that all their customers are know-your-customer (KYC) compliant which, as per new rules, requires verification of their Aadhaar. An amendment has been made in the Prevention of Money Laundering Rules (Maintenance and Records), 2005 to this effect.   The due date is 31st december 2017 3. AADHAR LINKING WITH MOBILE NUMBERS. The department of telecommunications (DoT), after the Supreme Court judgment on February 6, 2017, has asked telecom operators to re-verify all the existing mobile subscribers (pre-paid and post-paid) via Aadhaar-based e-KYC.

• We believe that slowdown in growth (aftermath of demonetization) and expected soft inflation could probably leave room for rate cuts by the RBI, which could augur well for duration strategies in 2017.  • There were credit concerns on individual companies during 2016, however, improving credit ratio seems to indicate that we broadly appear to be in a credit upgrade cycle, though it could take time for credit cycle to pick up. Anticipated fall in the lending rates post the currency swap exercise (increase in bank deposits) would help to bring down cost of capital for Indian companies, which in turn may bode well for the improvement of the credit environment and thus benefit accrual strategies. The liquidity in the banking system has improved post demonetisation which would henceforth result in lower deposit and lending rates. • Given the cash rich nature of our economy, we could see some slowdown in the overall economic activity thereby weighing on the GDP growth.  • The trad

B anks are now cutting savings interests rates as money is with them without any hassel to attract the depositors. Since October 2011, most banks barring few private banks were offering interest rate of 4 percent in these savings accounts. However, recently, banks have started reducing interest rate on savings account. The first salvo was fired by none other than the country's largest bank. On 31st July, 2017, State Bank of India slashed its interest rate on savings account deposits by 50 basis points to 3.5 per on balance of Rs 1 crore and below. Subsequently, eleven more banks have reduced the savings bank account interest rate and more could be expected to follow soon. Here are some of the banks that have reduced rates from the earlier rate of 4 percent for most deposits .  As the case depicts the situation that it is not worthy to keep the money idle with the savings account instead parking with some prudent options keeping aside the 6 months household expens

GST implementation has already been in place on july 1st 2017 and here comes the deadline to file the returns. Every registered tax payer has to file gstr1,2&3 returns before the deadline but apart from that for the month of july and august two separate returns have been introduced in order to report consolidated information to the government whose last date was 20th august for the month of july and 20th september for the month of august. Recently it has been announced that due to certain reasons such as flood in certain areas as well as network issues with softwares, the due date of filing gstr3b return postponed till 25th of august for the month of july. This step is remarkable from the taxpayers point of view as most of the businesses are to be ready for this. Apart from these two extra returns for these two months ,each one us have to file Gstr 1,2 &3 for the month of july and august in the month of september itself. Gstin portal have been well modified and arranged

It may be observed by most of the individual in our country who are less inclined towards taking insurance policy at the time they are bachelor. insurance may be from past years has been termed or considered as the risk covering tool for dependent but this myth should be out from the mind of the individual earning for his/her own. it may a possibility that why should one take insurance when  he or she is unmarried but it may happen if their parents needs that more than they do, or may be in case of independent parents when their expense may increase by the time when you are not there to support. Insurance should not only be considered as the risk transfer or risk covering instrument while it should be a important part of ones financial plan and it is advisable by most of the financial advisors apart from health insurance and mutual funds. working couples even needs a policy as their expenses are to be covered when both are earning and savings are taken care of mutually but for u

Mutual fund investments are becoming popular among most of the individual specially in the working or salaried segments in the form of SIP or systematic investment plan. There are common myths or we can say that rumours about the MUTUAL FUND SIP , which are being clarified below:- 1. GAME OF RICH PEOPLE: mutual funds does not show partiality among the investors income group , any body with a minimum of RS. 500 can enter into the mutual fund SIP in any scheme and get benefited from its performance. 2. NOT TO INVEST WHEN MARKET IS HIGH:  it is nothing to do with the market movements when its come on MUTUAL FUND SIP as its the averaging cocept which nullify the risk of high and low market . mutual fund sip is meant for the long run which itself faces all the turmoils and flourish situations during its lifetime 3. CANT BE STOP WHEN STARTED: mutual fund sip can be stopped and redeemed any point of time during the investment period, need only the request letter from the investor

Retirement planning is a prudent planning in every individual life but we come to decide for the same when we are near to our retirements. so pity of those who ignored the time factor in their lives and started saving for their family and self at the time when it is to withdraw the savings. it's true saying that, whatever we sow, we will get the same in return along with interest. many factors impacts the time factor of investments when we talk about retirement planning. Out of which inflation and interest rate factor is of prime importance which goes on eating our savings worth so, if we not start early savings as well as appropriate avenue to plan the retirement then we will loose the potential of our hard earned money to generate interest for us. posted by, saket kumar singh (Founder) Lakshya wealth services

Market have shown its potential over the long run and investors on the other hand have made their fullest out of the bullish nature and averaging concept. It seems very awkward when someone asks me, WHY WE SHOULD TAKE RISK or WHAT WILL I GET FOR SUCH LONG TIME OF INVESTING. i really feel sorry for them as they may not be the beneficiary of what others are getting . it is the the power of mutual fund SIP and lumpsum for a long time period which on the basis of their averaging and variabilty features hgot the investers the real worth of their investments. when we talk about sip, it means a part of our hard earned money invested periodically on the market and accumulates its earnings to secure our future financial needs. As we know that most of the time due to rumours or any political instability , stock market declined or crashed affecting which investors pulled out their earnings with a loss from the market without giving it a chance to recapitalize and saying "what the f---

Recently in a meet with the director of Estpro academy, dwarka more which is in the education field to provide finance tutorials to undergraduates and graduates for their career growth. Estpro academy work towards capital market and money market certification programs which is offered by NSE and BSE

The S&P BSE SENSEX has risen by 5,500 points in the last six-and-a-half month. The Sensex and Nifty, India's benchmark indices have risen by 20% since the beginning of the year; globally no other markets have risen as high as Indian markets.  the market trend is volatile and has got equal opportunity to scale new heights or to dip down. Vibrant macro-economic data, stable and reform oriented political landscape indicate an upward trend for the market. India's macroeconomic indicators are supporting markets high growth. Like, GDP is growing at 7.1% for FY 2016-17, inflation is falling, and a fiscal deficit is in check. Indian economy is the fastest economy in the world with 7% + GDP growth rate. Last Financial Year (2016-17), the government has achieved the fiscal deficits target of 3.5%, For 2017-18, the government aims to further bring down at 3.2%. Retail inflation has fallen to 1.54% in June 2017.The implementation of GST will add value to reforms process and likely

we have a seen a steady growth specially in our stock market. Since last 6 months BSE exchange stood 5500 points more to boost the sentiments and the indian stock indices rose to about 20% from the starting of the year which itself is highest in the world. If we talk about the fiscal deficit then in last financial year ,it was around 3.5 which is expected to brought down to 3.2 in coming financial year end which will further supports the sentiments of the stocks. Retail inflation came to 1.54% and foreign funds are coming to indian economy with a view to grow along with the domestic economic growth. Investors are having strong belief in the macro as well as political factors of the country which makes india safer and best place to invest in. If we talk about mutual fund sip , it has always been a wise decision to remain invested till our goal for investing has not been achieved. Averaging nature of mutual fund SIP makes it a better and prudent TARIKA to invested in. posted

1. Interest on locker fixed deposits It is a common practice for banks, particularly public sector banks, to make it mandatory for customers hiring safe deposit lockers from them, to place fixed deposits linked to these lockers. That is, a customer wanting to hire a safe deposit locker in the bank's vault not only has to pay annual rent for the locker but also place a fixed deposit with the bank. This fixed deposit is linked to the locker.  The minimum fixed deposit amount for this purpose varies from bank to bank but is normally not a large amount - mostly less than Rs 50,000. The FD is kept as a security deposit for the locker. The interest earned on the FD may be used to fund the rent payment for the locker or credited to the person's savings account with the bank or reinvested with the FD itself (in case of cumulative FDs).  The FD tenure is normally several years as the deposit has to be kept with the bank as long as the locker is being used. As the principal amo

Illustration I: Suppose hypothetically that the rate of CGST is 10% and that of SGST is 10%. When a wholesale dealer of steel in Uttar Pradesh supplies steel bars and rods to a construction company which is also located within the same State for, say Rs. 100, the dealer would charge CGST of Rs. 10 and SGST of Rs. 10 in addition to the basic price of the goods. He would be required to deposit the CGST component i n t o a C e n t r a l G o v e r n m e n t a c c o u n t w h i l e the SGST portion into the account of the concerned State Government. Of course, he need not actually pay Rs. 20 (Rs. 10 + Rs. 10) in cash as he would be entitled to setoff this liability against the CGST or SGST paid on his purchases (say, inputs). But for paying CGST he would be allowed to use only the credit of CGST paid on his purchases while for SGST he can utilize the credit of SGST alone. In other words, CGST credit cannot, in general, be used for payment of SGST. Nor can SGST credit be used for payment

Step 1: Get multiple copies of death certificate This is the first and most crucial step since the death certificate will be required at all the financial institutions where you want to close accounts, transfer assets or investments, make a claim, or even sell the deceased’s assets. Remember to take adequate number of copies and get them attested, if required,” says Jayant Pai, Head, Marketing, PPFAS. “In case the death is in abnormal circumstances, obtain the relevant coroner’s report, autopsy report and a letter from the police station,” he adds. Every death needs to be reported and registered within 21 days in the prescribed reporting forms. If the parent passes away at the hospital, you will have to fill a form with details like the deceased’s name, age, father or mother’s name, address, etc. This is forwarded to the registration centre/zonal office of the local municipal body, from where the death certificate is issued in the specified time. For multiple copies, downl

With the enforcement of GST( goods and service tax) on 1st july 2017, most of the things came under the purview of tax laws except alcohal,petrolium which were come under the tax bracket later on after the panel decision of GST council. GST is enforced keepig in view the well being of farmers who is not compulsorily required to enroll for the online system and the raw materials are kept free from tax. some of the tractor parts are also kept at 5% slab which will further ease the operation of farming. With the new reform in tax structure many big taxations of sales tax, excise and other duties will be abolished and people of middle class and lower income group will get benefited whereas the higher class group would have to loose their wallet size. under goods & service tax hotels and restaurants having turnover less than 50 lakhs are kept under the bracket of 5% and more than this 12% tax will be levied, hotel rooms upto 1000 RS, will be free from any burden but hotels rangi

Mutual fund always been a wise decision to invest while planning for long term as well as short term goals. mutual fund sip or mutual fund lumpsum investments always been preferred as it contains the basic feature of liquidity and reliability which is the most sought benefit by the investors as a whole. most of us worry about the plans and the company/AMC which offers that plan that which fund to invest and how to choose best performing mutual fund for us. Below mentioned points can help you out while finding the answers of your question. 1. Define your objective: Defining objective means to be aware about your own need and preferences that why you need an investment, what type of goal you want that investment to relate with and are you planned enough mentally to stick to your objective. 2. Assess your risk taking capability: As we all know mutual fund invest in securities or stocks which are to be traded in the capital or money market which have some risks associated with

Being financial sound is not only the thing which will sure everything for your coming future when it termed for your family and dependants. we all know that the situation which are prevailing today and the investments which we are doing today may or may not appropriate. At this stage, the decision and reviewing the mutual fund and other investment options is comes in picture Mutual funds in todays scenario placed itself as a better option to multiply our wealth in the form of mutual fund sip, mutual fund lumpsum investment and mutual fund diversification. In real sense mutual fund sip provides an option to invest smaller amount at a periodic interval into a pool of fund which is to be managed by certain fund managers in order to generate a handsome return so as to fulfill your dreams for which you have started the mutual fund sip. Most of the investors believes that money invested in banks and fixed deposits of banks are the only way to keep their money or wealth safe but, it i

Anytime soon the employees would be handed Form 16 by their employers. Form 16 is a summary of the total amount (basic salary and other allowances) paid to the employee and the taxes deducted in the previous year i.e. the financial year 2016-17. This document will help an employee file the income tax return by 31st July, 2017. But, what if an employee had switched jobs in the last FY and has more than one Form 16 from all employers or only from the current employer but not from other employer previous employers. Here's a step-wise approach to consolidate the numbers, under various circumstances. When an employee has more than one Form 16, then tax computation should be made after considering every Form 16 document. As an employee one has to prepare a revised statement of income and revised tax liability to make sure that the tax is calculated as per the correct slab. ·          First, consolidate salary earned from all the employers for the financial year.  ·          Se

Each one of us have plans to create a healthy corpus for future by saving or investing today. But the main thing is WHERE TO invest then the answer comes out to be mutual funds. it is well known that for creating a long term wealth the equity portion of mutual funds plays a crucial role specifically when we are risk taker and seeking tax benefit as well. if we work out in such a way to invest in a SIP of around 38,000/ month then within a time span of 10 years we can become a crorepati @15% approx. which is not a big issue if we are in equity. Apart from the money to be invested we must have to be cautious about the diversification as the equity market is highly exposed to risk as well so parking your fund in different schemes or parting the total amount in the SIP of small amount and in to different funds including different sectors as when any specific sector or scheme will fall our overall portfolio will not fall. Start sip today... Posted by, saket kumar singh (Founder)

The transactions recognised by SEBI will be out of the ambit of the new rule introduced this year in the budget that provides for the imposition of capital gains tax if securities transaction tax has not been paid. The final notification of the rule, which is in the works, will ensure that genuine investments such as employee stock options and off-market strategic acquisitions do not face tax. To shield exemptions for genuine cases in which STT could not have been paid, it was provided that the government would notify situations in which the rule would not apply. But CBDT issued draft notifications specifying situations in which it would apply. Though the first and third provisions addressed key concerns, the second one on listed stocks not purchased over the exchange left the issue open-ended. 

As we all know the economic condition and yelling demand of output despite of sufficient input. most of the industry including IT and Telecom gives an unkind reminder to review your finances and plan in advance to sure easy going life standard during such crisis, 1. put an emergency fund apart Doing this will first of all safeguard you for the unseen and unwanted hazardous situation as well to feel relax for your own and your dependants security. Getting out the crisis may take few months or year so during your job you have to cut some block for these reuirements. All of us will think now that how much should be our emergency fund then answer is , the household expenses for atleast 6 months. you have to cut down your discretionery expenses to create a buffer for this. Park you funds in liquid fund for this need, 2. put your household budget with you consider the recent layoffs a wake up call and put a household budget in place. preparing such budget is not just accounting yo

This seems that the expectation of government to have each individual have their own house by 2022 will become real. The new rule according to which allowing the members of EPFO or the contributories to withdraw  their accumulations upto 90 percent to purchase their own house. According to which the member can make payments and EMI payments for their house from their accumultion provided the member should be registered with the housing society which has itself to be registered and having atleast 10 members constituting the registered society. an employee alloted the PF number have been considered as the member of EPFO. The new rules will be in addition to the existing rules for withdrawl of PF by the employees to fund their home buyings.He can withdraw funds in their individual capacity if he does not want to be a member of a housing society, provided all the requisite documents are in place. since the previous rule prevails, he can still withdraw in his individual capacity to pur

There is an expectation that the budget for the next financial year could find its presence by early january 2018 as signalled by NITI AYOG in a move to either make the financial year from april-march to january - december. Prime minister view was to change the financial year to jan-dec from current april-march as previous is adopted already by world bank as well as more than 150 countries around the world. Early budget will make the department to efficiently allocate and plan the budget for the defined sectors and for efficient implementation of plan for the whole financial year. By, saket kumar singh(Founder) Lakshya wealth services www.lakshyawealth.com like us us on facebook Follow us on linkedin & twitter

Everyone knows about the economical factors which directly or indirectly impacts the kitty of individual investors. when we talk about fixed income category , only one things strikes our mind first which fixed deposits or F.D with banks. Are we unware of the fact that other choices also exists in the market but the thing is we want to play safe, DOES IT SOUNDS GOOD. if yes then simply go for the same and wipe out the expectations of returns from your mind because as economy grows fixed income returns or interests will go down gradually. As a result of this boost SBI recently slashed their term deposit rates to 50 basis points which caused the 3 or more years rates to persist at 6.25 to 6.5, which is again a negative for our savings as inflation is near about what we earn out of our deposits. It is really good to see our economy in a growing phase and no question against its growth story in coming financial years but despite of having these changes we afraid of investing in other a

Now the investors in the capital market are free to invest in mutual funds more conveniently with the new regime passed by the regulator SEBI under which every individual having their e-wallet can invest upto 50000/mutual fund/ financial year through their e-money. But one more thing to add is the money in wallet should be loaded through cash, net banking or debit card for the purchase of mutual funds, no money is permitted to purchase the units of mutual fund routed via credit card, promotional schemes and cashback schemes. E-wallet companies are directed not to offer any schemes or cashback to invest via their route. this move really empower the mobile users to park their household savings into capital markets to plan their investments in prudent manner. posted by, saket kumar singh(Founder) Lakshya wealth srvices like us on facebook ,twitter ,linked in, google + visit: www.lakshyawealth.com

we all worry about the tax implications on house property, find below the five key points which is to be kept in mind while considering house tax or property tax. NO.1. Rent and other income from any flat , building and land comes under the head of "income from house property" and to be taxed but land which is unused and still for construction will not comes under this head NO.2 The assessee must be the owner of such property and it must not be used for the purpose of business and profession carried by him NO.3 Income chargeable is computed after standard deductions, 30% of annual net value of the property NO.4  The property which is used for self or is self occupied does not constitute any tax liabilty. so, the owner need not to worry for the same while filing the taxes. NO.5 INCOME FORM HOUSE PROPERTY IS TAXABLE ON THE ANNUAL VALUE IF IT CROSSES THE STANDARD VALUE AND IS COMPUTED ON YEAR ON YEAR. BY, saket kumar singh (Founder) Lakshya Wealth Services

In recent years we have seen inflation or food related items have not been witnessed a pace in rising prices, as we are not taking it indirectly. Invisible inflation doesnot shows its impact directly whereas it reflects its impact by the means of related goods and via our lifestyle means. in our early 20s to 30s ,we exibit a turning change in the lifestyle which comes out to be our preferences and choices, likes and dislikes, premium and inferior. all these things works together to hit our finances. few years back, if a normal earning family plans to go out on dinner and they usually do it twice or thrice a month, they use to spend around 4000-6000, but the same scenario in today's time lets the time gap be 4 years, it costs around 10000-12000. have we witnessed these change, A BIG NO. Because as the time passes, some of us changed our preferences from public transport to cabs, searching for new destinations every week for party and outings and all. Have we looked into the

NCFM certification program , an initiative program run by NSE ,india's biggest stock exchange having daily turnover more than 2 lakhs crore , is now been popular not only for its curriculum but also for the importance it carries in todays market scenario. These certification are about 30 in numbers offered online by national stock exchange and each program has its own importance in the financial service industry. any person who is willing make their career in financial service industry or to start their own service business in financial market , requires to get certified some of the modules. Few of the modules such as mutual fund module, derivative module etc. are made compulsory by stock exchange to get certified before using their window to carry financial market business. most of the finance and banking companies started to prefer candidates having certification in NCFM/ NISM modules. this not only makes this certification important but also a requirement in career enhancem

its very urgent and important to know about the changes in the registration of NISM exam. With effect from april 09th 2017, all the aspirants seeking the certification required to update their aadhar number on the portal and have to upload the scanned copy of same on the portal, failing to which no certification will be provided. National institute of securities market announced recently that if someone without updating their aadhar enrolls for a module his enrollment would be accepted and he can appear for the exam too but the certification will not be provided for the said exam. In addition to the pan scan copy upload on the NISM portal , every one should be manadatorily upload their aadhar card also from now. candidates who have enrolled for the certification and their exam date is nearby can update by visiting the edit profile page on nism portal and the updation will be processed in the time frame of 3 working days. so, get ready for the change and support our governement in

In our earlier blogs , i have discussed a lot about the national stock exchange examination and its importance in career line of every finance aspirants and professional as well. Before coming to the tips, just understand what is national stock exchange certification in financial markets is. It is termed as NCFM in short and demanded by most of the financial company to their applicants and their employees to clear the levels as it will provide the road view of financial industry and its operations. NCFM exam has its three levels 1. Beginner 2. Intermediate 3. Advanced . All the  levels having different certification validity in which most are having the validity of 3 years from the date of passing the examination. When you create your id on nse website and register for a module , you will get the study material on your mail to study. Follow these tips to check before your exam. 1. Revise the overview of each chapter one day prior and on the day of exam 2. Collect your pho

Union budget presented by our respected finance minister mr. arun jaitely on 1st feb 2017 is unique as compared with all the three budgets presented in consecutive years. first time ever the railway budget getting abolished and merged with union budget, a single budget for economy. post demonetisation it was expected that budget will give some relevant news for the investors and the good news is that there is no bad news. overall budget provisions were more or less in sync with the stated objective of the government to move from reform to transform and create clean india. the month of january was in actual sense dominated by three big change: 1. what donald trum will do after getting the throne? 2. what would be the impact of demonetisation on quarterly results? 3. would there be changes capital gains tax for domestic and FPI's both. it is really surprising that the large cap nifty index rose by 4.6%, midcap index rose by 7.4% and small cap surpasses the record of large cap an

Our finance minister , Mr. arun jaitley , capped the cash transaction at Rs 3 lakh with the recommendation of special investigation team( SIT) in a line to curb the black money in the indian economy. the capping move also impacted the cash holding of an individuals which is banned over 15 lakhs to strengthen the cash reserves of banks which will further boost the lending capacity of banks at lesser rates. This move is a fairer move with respect to a fairer economy, as the main theme which comes out of all the decisions is to use online transactions and e-payments for all your purchasing and payments.

NCFM ADVANCED MODULE 1. investment analysis and portfolio management 2. technical analysis 3. fundamental analysis 4. wealth management 5. proficiency certification NCFM INDUSTRY MODULE 1. investment analysis and portfolio management 2. mutual fund distributors module

Visit us:  www.lakshyawealth.com We are now not in a time where opportunity knocks and we are supposed to respond accordingly. These days scenario is little bit changed where we have to respond in advance to let opportunity knock at our doorstep. Confusing but fact is this... Financial career and professional career is competitive and rewarding and everyone is running to get benefited so being equipped with ncfm modules will give an add on effect to ones resume and also on employers perspective. Grooming also plays a crucial role in career enhancement which includes a perfect theme which is TIPS TO MANAGE YOURSELF . everyone in this crowd tryin to stand unique to get recognised so not you. Share

the tax benefit of HRA is only available to salaried individual who has the HRA  component in their salary structure. HOW MUCH HRA IS EXEMPTED: 1.Actual HRA received 2. 50% of salary in metro and 40% in non metro 3. excess of rent paid over 10 % of annual salary

now at lakshya wealth services, one can join ncfm / nism training classes and personality grooming training at dwarka mor branch new delhi 110059

Retirement fund body Employees Provident Fund Organisation (EPFO) has allowed full and final  withdrawal  of  funds  by the subscribers from their pension  account without providing  Aadhaar  number.  "All those members filing claims for withdrawal of funds from their pension account would not be required to submit Aadhaar as mandated in an earlier order of the EPFO," a senior official said.  The members with less than 10 years of service can submit a full and final settlement claim through Form 10C to withdraw the amount accumulated in their pension account.  However, the official said that the members submitting claims for fixing their pensions using Form 10D would be required to submit Aadhaar number or enrolment slips.  Explaining about the reason for giving this breather to the members, the official said, "The requirement of submitting Aadhaar number under Form 10C claims led to issues in settlement of withdrawal cases. Thus, it is decided that obtaining Aadhaar sh

Recently , The central board of excise and customs (CBEC) launched a goods and services tax (GST) app on Thursday to facilitate a smooth transition to the new indirect tax regime for taxpayers.  From helping taxpayers in the migration to GST, providing toll free numbers and videos and reading material on GST to putting up draft laws and rules, the app called the CBEC GST app aims to help taxpayers and address their concerns about the new indirect tax regime.

Now we are planning to expand our financial reach to our coming generation, who would be future leaders in the financial industry. Hence for the same Lakshya Wealth have planned to introduce NCFM/NISM module preparation to make youngsters aware of its need and value in their coming future. we are just opening our first class from the month of march 2017 in dwarka mor new delhi. contact: 9818741814