P Chadha

How to Reactivate Dormant or Inactive Bank Accounts [2018]

reactivate dormant bank accounts

How many bank accounts do you hold? 2? 3? 4?

How about that one account that you opened while in college and haven't bothered to check again? Has it been two years since you withdrew from or deposited money in that account?

You may be surprised to find that you are not able to transact in that account anymore. This is because that account of yours is now designated as a dormant.

Fortunately, it's quite straightforward to get these accounts back in active state. This post covers dormant accounts in detail as well as lists steps to reactivate them...

SBI Gold Deposit & Monetization Scheme [2018-19]

sbi gold monetization

Gold is considered to be a safe investment. And since centuries, Indians have kept a significant portion of their wealth in this form.

But inherently, Gold is an unproductive asset. Even if it's bought as an investment, it typically sits at home or in a bank locker and doesn't earn any return as such.

Now, is there a way to make it more productive? Is there a way to grow your precious yellow metal? Something similar to a fixed deposit?

The good news is that there is indeed an option. And you can grow your asset by making use of Gold Deposit Scheme by SBI.

In this post, we will look at details of this scheme...

55 Income Tax Exemptions & Deductions for Salaried [For FY 2018-19]

income tax exemptions and deductions

Are you paying too much tax?

Do you know that you can get a significant reduction in your tax liabilities if you take advantage of all the deductions and exemptions that are available?

The key question is, have you taken advantage of them all and maximized your tax savings? Yes, no, maybe?

If your answer is no or maybe, this guide should help you. It is a comprehensive list of all the tax exemptions and deductions that you can legally make use of in FY 2017-18 (AY 2018-19).

Let's look at each of them one by one...

How to Open & Invest in a SBI PPF Account Online

sbi ppf account

Outside FDs, PPF is probably the most popular investment vehicle for saving taxes.

But, till recently, it wasn't that convenient to make use of this vehicle. You could only open an account up in a post office and had to visit physically to deposit money in it.

Fortunately, things have changed and now many top banks now offer easy and convenient PPF investments.

And amongst these banks, State Bank of India is probably the most popular choice. It's the one with the highest reach and was the first bank to be approved to open up PPFs on the Government's behalf, back in 2011.

In this guide, I will walk you through the exact process of opening and operating your PPF in any SBI branch. I will also cover what to do if you already have an PPF in a post office...

How much Pension will you get with EPS (with EPS Calculator)

calculate eps

You see a regular contribution from your employer towards EPS every month. And you have been told that this is a mandatory contribution towards your retirement pension.

But, have you ever wondered... what's the exact benefit of this deduction and how much EPS amount you will get when you finally retire?

Not many know their potential EPS payouts. And to be honest, EPS is not that straightforward to calculate as it's driven by a number of rules that have changed quite a bit over the years.

In this post, I will try and demystify these rules and resultant calculations.

I have also created what I believe is the most comprehensive EPS calculator available right now anywhere and you can use this calculator to help you estimate your pension amount quite easily.

So, let's get going...

How to pay Income Tax Online in <15 minutes [2018]

pay income tax online

Have you ever wondered...

...if you can pay your income tax through your debit card or netbanking?

Now if your only income is salary, you probably don't need to worry about it. Your company will deduct and deposit TDS automatically on your behalf.

But, if you are a freelancer or otherwise have a substantive income from sources other than your salary, you may have additional tax liabilities. In fact, you may be liable to pay advance taxes even before the year ends.

There are a ton of questions on this subject and in this guide, I will try and cover all of those in detail....

How to eFile Income Tax Return through NetBanking [<15 minutes]

eFile income tax return through netbanking

Filing income tax returns is an annual chore...

But, fortunately, it gets easier each year.

Unlike years past, where filing through your CA was probably the easiest option, you can now go to the tax department's website or a tax aggregator and complete your filing without stepping out of your home.

If you are submitting your returns yourself, nothing beats the convenience of being able to efile through your net banking account.

Yes, your netbanking account can be used to efile your taxes. And the whole process takes less than a few minutes.​

In this post, I will do a quick walkthrough of this process...​

Cost Inflation Index (CII) Chart for long term Capital Gains [FY 2018-19]

Cost Inflation Index

Money loses its value over time because of inflation...

...And when it comes to sales of your long term capital gains, your real profit may actually be much lower because of the rise in prices over time.

The Income Tax department recognizes this and issues an annual Cost Inflation Index (CII) that allows you to index your cost of acquisition to take inflation into account.

This indexed cost is then used to calculate your long term capital gains and the resultant tax on same.

In this post, I will share the complete cost inflation index chart that's updated till AY 2018-19 plus a Capital Gains Tax calculator for you to easily compute your tax liabilities...

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