The Art of Money by KG

The National Pension System (NPS) was launched on 1st January, 2004 with the objective of providing retirement income to all the citizens.  Main aim of NPS is to bring reforms in the field of Pension for the citizens of India by encouraging people to save for the retirement. NPS offers following important features to help subscriber save for retirement: ·          The subscriber will be allotted a unique Permanent Retirement Account Number (PRAN). This unique account number will remain the same for the rest of subscriber's life. This unique PRAN can be used from any location in India. PRAN will provide access to two personal accounts: ·          Tier I Account: This is a non-withdrawable account meant for savings for retirement. ·          Tier II Account: This is simply a voluntary savings facility. The subscriber is free to withdraw savings from this account whenever subscriber wishes. No tax benefit is available on this account. Process to open N

Dear Friends, In this season of Income Tax Return (ITR), I am here to share with you some tax saving options. As per the Income Tax act, you can invest upto Rs. 1.5 lakh for the Financial year 2016-17 and can claim tax rebate on the same. There are various instruments in which you can invest as per you risk profile, age and time horizon of investment. Unlike previous years when interest rates were set for the full year, the government will from now on set them every quarter, based on the previous 3-month yields on Government-Securities or G-Sec. My thinking is you should not invest randomly at the last moment just for the sake of Tax saving , Rather you should plan it logically at the start of Financial year and invest properly. This will have 3 benefits: a)      When you plan and invest there is very less chance of you getting trapped in some unwanted tax saving instruments for long term. b)     You save tax. c)      This will help you to save and grow your money f