Author Archives: Phyllis Carpenter

India’s Push to Achieve Better Data Governance

Since the launch of the Digital India Program, the country has witnessed tremendous growth in digital infrastructure and initiatives in innovating e-governance policies that can lead to digital empowerment of citizens. Affordable access to the internet and an encouraging regulatory system has made India the country with the second-largest internet users in the world and has powered its digital economy.

Governance

The rapid technological advances have led to large volumes of data being generated by various activities, thus, increasing the dependence of business on data-decision making. However, this fuels the question of personal data protection, a key issue facing the policymakers. India is proposing a ‘fourth way’ to regulate personal data distinct from the approaches of China, European Union, the United States through India’s draft Personal Data Protection (PDP) Bill that is due to be passed by end of the year.

The Data Governance framework constitutes of three major players – Data Fiduciaries (DF) those who control the means of processing personal data, Data Processors (DP) who process data on behalf of DFs and Data Principal those whose personal data is processed. DFs and DPs share a fiduciary relationship and it is their duty to protect the rights of Data Principal. The PDP Bill contains a number of other checks and balances that ensures the interests of the Data Principal such as the processing of data in a fair and reasonable manner.

The Bill also provides the appointment of a Data Protection Authority (DPA) that consists of a chairperson and six members, with knowledge of at least 10 years in the field of data protection and information technology. The DPA is empowered to draft specific regulations for all data fiduciaries across different sectors, supervise and monitor data fiduciaries, assess compliance with the Bill and initiate enforcement actions, and receive, handle and redress complaints from data principals.

Read More:- Financial Planning Decisions Every Woman Must Make

A brief summary of the draft bill: 

  • A single law that governs both private and public entities,
  • Sensitive personal data includes financial data, passwords such as bank account or credit card or debit card or other payment instrument details, physical, physiological and mental health conditions, sexual orientation, medical records and history and biometric information,
  • Mandatory storage of a copy; critical personal data is stored only in the country,
  • Cross border data is permitted if it is approved by the regulator or the government,
  • Data breached must be reported to the regulator and regulator will decide if the individual will be notified based on the severity,
  • Imprisonment up to five years for certain kind of offences.

Most technology giants thrive on data generated by their users and as the Indian business tycoon Mukesh Ambani said ‘Data is the new oil’; we will need to watch and see how the bill creates the legal regime of how data is used, shared and stored in India.

Financial Planning Decisions Every Woman Must Make

Today, the progress women have shown in various spheres of life has been nothing short of phenomenal. From heading top MNCs globally to representing the country in Olympics, women are leaving no stone unturned to make their mark in the world. However, when it comes to managing finances, women continue to remain largely dependent on their spouse or father. They need to break away from this age-old practice and start taking control of their finances.

Financial Planning

Sharing with you some of the decisions that women must take in order to be more financially independent:

Be financially confident

One of the reasons why we continue to be dependent on others for managing finances is because of our unwillingness to familiarize ourselves with financial terms and decision-making process. What we do not realize is, financial independence is not just about saving or earning money, it also empowers us to utilize it wisely.

Start reading about financial planning and then have an open conversation with your parent, partner, or even a financial advisor about how you wish to kick-start your investment and savings journey. I would recommend you to make smaller investment first and gradually increase it once you become more comfortable with managing it on your own. Slowly take charge of your money.

Maintain emergency fund

An emergency fund assists in tackling financial emergencies such as sudden job loss, accident or severe illness, wherein your regular income inflow stops temporarily. You may choose to maintain a separate emergency fund, or consider having one with your spouse. In case of latter, ensure both of you contribute to this fund every month. Ideally, your emergency corpus should be at least 3-6 times your monthly expenses.

You can consider parking your emergency fund in high yielding savings accounts offering interest rates up to 7.25%, since these provide highest form of liquidity along with minimal risk.

Invest instead of merely saving

Understand the difference between saving and investing, and how important the latter is to achieve various financial goals. Instead of merely keeping your hard earned money idle in your bank account, consider investing this in various investment instruments. Avoid restricting your investment to safer investment options and instead, go ahead and explore other investment avenues such as mutual funds.

Read More:- Indian Insurance Industry: Mega Trends to Watch Out For

Prioritize financial goals

Identify and prioritize specific financial goals, in order to make investments according to your investment horizon and risk appetite. Make sure each of your investment has a specific financial goal.

Women are usually inclined towards safer investment options such as Fixed Deposits, PPFs or NSCs etc. On the contrary, I would recommend you to consider investing in equity-linked mutual funds as well. ELSS not only helps save tax, they outscore other investment options when it comes to returns, lock-in period and taxability of gains. Also, consider making separate investment for each goal. Debt fund is good option for short term goals (less than 3yrs). Opt for balanced fund for goals that are 3-5years away and invest in equities only for long-term goals that are at least 5years away.

Save enough for your retirement

Do not deprioritize retirement just because you have a support system as this may prove to be grave financial mistake later on. Start planning for your retirement as soon as you have a steady job as this would give you more time to grow your money through the power of compounding. Remember that delaying retirement investment for later time may cost you more.

Purchase adequate term and health insurance

A vital step towards protecting your family from the uncertainty of future is to purchase adequate term as well health insurance. Term insurance protects your family financially in case of your untimely demise, by providing an assured sum to them, at lower cost. Opt for term insurance amounting to at least 10-15 times your current annual income.

Given the rising cost of healthcare in India, relying on your savings or employer’s health policy would be a big mistake. Hence, it is important for you to have a health insurance policy in place. You can either choose one that is specially designed for women or buy a regular health cover with maternal and child care benefits. Choose for a family floater plan if you have dependent family members.

Indian Insurance Industry: Mega Trends to Watch Out For

Indian Insurance There is no path more hazardous than the one taken in attempting to predict what the future entails. Given that the world we live in is in continuous flux and every industry faces uncertainties, this is more true today than ever before. Who would have thought even a year ago about de-globalization in a world that was being rapidly globalized over the past few decades?

Indian Insurance

The world may still be flat, but it is not immune to the socio-political and technology changes which will either raise new walls or pull down the existing ones. The implications of these changes on jobs, productivity and economies in general are unknown today. Despite the challenges of predicting the future, I take solace in the fact that over the ages, human ingenuity has made life better for society-at-large.

A business like insurance will not be immune from some of the mega-trends that stare at us today. I consciously use the word mega-trends for events that I believe are going to be irreversible in the coming years. The primary one among these is ‘digital’ which will manifest itself in multiple ways for customers, distributors and the back-office operations of insurers.

Insurers can tap in to open ecosystems

Always-on, mobile devices allow for context-aware, personalized interaction models where insurers can reach out to consumers like never before. Insurers can get deep insights into customer behavior, based on internal and external data sets. Machine learning technologies will allow for intelligent, predictive and learning capabilities to offer virtual advice and automate decision-making processes such as underwriting.

Biometric identification can help prevent fraud and secure customers’ personal data without compromising customer experience. Insurers can tap in to open ecosystems of developers to create value-adding solutions like never before. In a world of hyper-connectivity, insurers can build digital ecosystems for different product categories.

Product-centric and channel marketing-driven

The traditional insurance model was largely product-centric and channel marketing-driven. The new age model will turn this on its head with the customer at the center and a suite of digital technologies, services and ecosystems to tap the customer. If incumbents are unable or unwilling to change their business models, they will cede space to new participants. Nothing prevents search engines or e-commerce platforms with hordes of customer information from disrupting the insurance sector. An equivalent of the ‘Banks vs. Wallets’ battle, while unimaginable today, could emerge in the insurance sector too.

One often-asked question is whether digital will make the existing distribution channels redundant? I, for one, believe in the contrary. Technology is rapidly equipping distributors to become more productive, and thereby to improve their returns on effort. An agent equipped with greater knowledge of the customer and supported by a digital virtual assistant is likely to be more successful. There is still some time for robo-advisory and other such platforms to scale up, both in terms of reach and domain knowledge, for them to make a difference to consumers in the next few years.

The digital push post-demonetization is leading to a migration of more customers into the formal banking system. Bancassurance, with greater insight into the consumer purchase pattern and real time connectivity, can help nudge the customer to purchase a variety of insurance solutions. Micro-segmentation and a targeted approach, backed by analytics, will help improve conversion ratios and reduce customer dissonance. Open architecture ecosystems in bancassurance will push insurers to improve customer value propositions and service standards. A greater presence of banks in the hinterland will help increase the penetration of insurance across the length & breadth of the country at lower fixed costs.

Read More- Here is how the new Income Tax rules affect you?

An additional opportunity will be to leverage the ‘India Stack’ architecture which enables insurers to on-board customers in a paperless fashion. Insurance today is largely seen to be lagging behind other consumer-driven sectors in ‘ease of purchase’ parameters; re-engineering of the policy issuance value chain will create a huge dif­ference in customer experience.

In several other industries, regulations have lagged behind technological innovation, causing friction between corporations and regulators. The insurance industry and the regulator need to learn from other indus­tries to minimize such friction.

Insurance sector is in a unique position

Another mega-trend is ‘ageing’ which is slowly but surely driving up the dependency ratio. In simple terms, the population of the elderly will increase not just in absolute terms over the next two to three decades but also as a percentage of the overall pop­ulation. In a society that still has substan­tial savings in physical assets or in short du­ration, open-ended financial assets, the opportunity for ‘value migration’ both from physical and short duration financial assets is tremendous.

With greater inter-state mi­gration within the country for job opportu­nities, emergence of nuclear families and limited social security instruments, the ‘pro­tection gap’ in India is amongst the highest in the world. The insurance sector is in a unique position to offer disciplined savings vehicles for the long-term and protection against either the risk of dying early, or liv­ing longer through a suite of product offer­ings. Historically, built on the edifice of a tax saving platform, the sector needs to be­come an integral part of any financial plan­ning exercise.

Indian Insurance 0

There are a few other areas that insurance sector management teams would need to stay sharply focused on. Attracting and re­taining talent is one of these. Insurers who offer superior employee value propositions will enjoy greater loyalty in an era where the workforce is younger; geographically mobile; technologically skilled; demands more flexibility such as work-from-home; strives for work-life balance; expects greater learning opportunities; and is more aware of what competitors, both within and out­side the sector, have to offer them as a val­ue proposition. The human resource prac­tices of insurers would need to be grounded in this new reality.

Very soon, most insurers will also deal with a more diverse set of shareholders, either due to a listing process or an accelerating wave of mergers and acquisitions that the industry is witnessing. Greater public scruti­ny and demanding shareholders pushing for sustainable and profitable business models will help create greater transparen­cy for the sector & push insurers towards higher efficiencies and superior customer service standards.

Over the next couple of years, GST will be another discontinuity that the country will face. Applicability of different tax slabs can significantly change the affordability and thereby influence the growth of different product categories.

The challenges posed by the above changes are not insurmountable; the opportunities to grow and become more efficient are humongous. However, the sector can ill-afford uncertainties like the ones it faced in the earlier part of this decade. It is only with great effort that a renewed model of sus­tainable growth has re-emerged for the sec­tor; for the fruits of this model to be reaped, all stakeholders need to work to­gether in tandem.

Here is how the new Income Tax rules affect you?

With the new economic year, new changes in income tax are going to have a definitive impact on individual portfolios. This time around, it is important for all professionals to gear up and plan investments accordingly so that they can have maximum benefits once the changes implemented in taxation. First and foremost individuals need to get accustomed to the new rules and regulations, implemented from April 1, 2018.

Income Tax

In the personal income tax bracket, there is no change in the tax ceiling but in case of corporates, where profit doesn’t exceed Rs 250 crore, the new tax rate is 25%. There is a surcharge of 10% of income tax in case net income is between Rs 50 lakh and Rs 1 crore whereas it is 15% in case net income exceeds Rs 1 crore, subject to marginal relief. The education cess of 4% is applicable instead of 3% and definitely, this is going to increase the burden on middle-class taxpayers.

The senior citizens (age of 60 and above) now face an additional deduction of Rs 40,000 on interest from bank deposits. No TDS will be counted till the amount remains within Rs 50,000. Meanwhile, they are also going to get a higher exemption for medical insurance and medical related expenses of Rs 50,000 which was Rs 30,000 earlier.

See More- 10 Types of Financial Services Offered in India’s

In case of treatment of specified diseases, the deduction limit in case of medical expenditure has been increased to Rs 1 lakh under section 80DB. For women who have just started working, they can definitely ask her employer to reduce the contribution to EPF (Employee Provident Fund) to 8% during the first 3 years of employment which is otherwise 12% of basic. No doubt, this will be a win-win situation in net profit.

Investors with a long-term capital gain via indirect equity mutual funds are now scheduled to pay 10% plus surcharge as LTCG. Anyhow, this is subject to a relaxation of Rs 1 lakh per year per person and the value to calculate purchase price will be 31 January 2018 (the Budget announcement date). Interestingly, from now on, non-employee subscribers also have the benefit of tax-free withdrawal from NPS (National Pension System) from April 1.

This exemption is currently not available to non-employee subscribers. On Single premium health insurance policies, the deduction is to be allowed on a proportionate basis for which the number of years for which health insurance is covered or provided.

One must not forget that 10% tax will be levied on dividend income from equity mutual funds. This 10% tax is referred to as Dividend Distribution Tax. In case anyone fails to file Income Tax, he will need to pay Rs 500 as penalty per day instead of Rs 100. The penalty of non-adhering to the notice has increased to whopping Rs 1000.

10 Types of Financial Services Offered in India’s

India’s diverse and comprehensive financial services industry is growing rapidly, owing to demand drivers (higher disposable incomes, customized financial solutions, etc.) and supply drivers (new service providers in existing markets, new financial solutions and products, etc.). The Indian financial services industry comprises several key subsegments.

India’s

 

These include, but are not limited to- mutual funds, pension funds, insurance companies, stock-brokers, wealth managers, financial advisory companies, and commercial banks- ranging from small domestic players to large multinational companies. The services are provided to a diverse client base- including individuals, private businesses and public organizations.

10 Types of Financial Services:

  1. Banking
  2. Professional Advisory
  3. Wealth Management
  4. Mutual Funds
  5. Insurance
  6. Stock Market
  7. Treasury/Debt Instruments
  8. Tax/Audit Consulting
  9. Capital Restructuring
  10. Portfolio Management

These financial services are explained below:

1. Banking

The banking industry is the backbone of India’s financial services industry. The country has several public sector (27), private sector (21), foreign (49), regional rural (56) and urban/rural cooperative (95,000+) banks. The financial services offered in this segment include:

  • Individual Banking (checking accounts, savings accounts, debit/credit cards, etc.)
  • Business Banking (merchant services, checking accounts and savings accounts for businesses, treasury services, etc.)
  • Loans (business loans, personal loans, home loans, automobile loans, working-capital loans, etc.)

The banking sector is regulated by the Reserve Bank of India (RBI), which monitors and maintains the segment’s liquidity, capitalization, and financial health.

2. Professional Advisory

India has a strong presence of professional financial advisory service providers, which offer individuals and businesses a wide portfolio of services, including investment due diligence, M&A advisory, valuation, real-estate consulting, risk consulting, taxation consulting. These offerings are made by a range of providers, including individual domestic consultants to large multi-national organizations.

Read More- 15 Marketing Strategies That Inspire Strategic Thinkers

3. Wealth Management 

Financial services offered within this segment include managing and investing customers’ wealth across various financial instruments- including debt, equity, mutual funds, insurance products, derivatives, structured products, commodities, and real estate, based on the clients’ financial goals, risk profile and time horizons.

4. Mutual Funds

Mutual fund service providers offer professional investment services across funds that are composed of different asset classes, primarily debt and equity-linked assets. The buy-in for mutual fund solutions is generally lower compared to the stock market and debt products.

These products are very popular in India as they generally have lower risks, tax benefits, stable returns and properties of diversification. The mutual funds segment has witnessed double-digit growth in assets under management over the last five years, owing to its popularity as a low-risk wealth multiplier.

5. Insurance 

Financial services offerings in this segment are primarily offered across two categories:

  • General Insurance (automotive, home, medical, fire, travel, etc.)
  • Life Insurance (term-life, money-back, unit-linked, pension plans, etc.)

Insurance solutions enable individuals and organizations to safeguard against unforeseen circumstances and accidents. Payouts for these products vary across the nature of the product, time horizons, customer risk assessment, premiums, and several other key qualitative and quantitative aspects.

In India, there is a strong presence of insurance providers across life insurance (24) and general insurance (39) categories. The insurance market is regulated by the Insurance Regulatory and Development Authority of India (IRDAI).

6. Stock Market

The stock market segment includes investment solutions for customers in Indian stock markets (National Stock Exchange and Bombay Stock Exchange), across various equity-linked products. The returns for customers are based on capital appreciation – growth in the value of the equity solution and/or dividends – and payouts made by companies to its investors.

7. Treasury/Debt Instruments 

Services offered in this segment include investments into government and private organization bonds (debt). The issuer of the bonds (borrower) offers fixed payments (interest) and principal repayment to the investor at the end of the investment period. The types of instruments in this segment include listed bonds, non-convertible debentures, capital-gain bonds, GoI savings bonds, tax-free bonds, etc.

8. Tax/Audit Consulting

This segment includes a large portfolio of financial services within the tax and auditing domain. This services domain can be segmented based on individual and business clients. They include:

  • Tax – Individual (determining tax liability, filing tax-returns, tax-savings advisory, etc.)
  • Tax – Business (determining tax liability, transfer pricing analysis and structuring, GST registrations, tax compliance advisory, etc.)

In the auditing segment, service providers offer solutions including statutory audits, internal audits, service tax audits, tax audits, process/transaction audits, risk audits, stock audits, etc. These services are essential to ensure the smooth operation of business entities from a qualitative and quantitative perspective, as well as to mitigate risk. You can read more about taxation in India.

9. Capital Restructuring

These services are offered primarily to organizations and involve the restructuring of capital structure (debt and equity) to bolster profitability or respond to crises such as bankruptcy, volatile markets, liquidity crunch or hostile takeovers. The types of financial solutions in this segment typically include structured transactions, lender negotiations, accelerated M&A and capital raising.

10. Portfolio Management

This segment includes a highly specialized and customized range of solutions that enables clients to reach their financial goals through portfolio managers who analyze and optimize investments for clients across a wide range of assets (debt, equity, insurance, real estate, etc.). These services are broadly targeted at HNIs and are discretionary (investment only at the discretion of fund manager with no client intervention) and non-discretionary (decisions made with client intervention).

How to Use Surveys to Land More Business Leads

Surveys Listening to what your customers have to say and providing what they want is fundamental to the success of your business. Unfortunately, many companies make the mistake of deciding that they know better than their customers. How, though, can a modern business stay in touch with customers? With their opinions, concerns, and demands?

That’s where surveys come in.

Today’s technology makes it easy for businesses to design, create and distribute customer surveys.

This post will cover three ways that surveys can be used to help you drum up more leads for your business at different stages of the customer journey.

We will cover:

  • Engaging an audience.
  • Qualifying leads.
  • Securing repeat business.

Let’s go over some of the different ways you can use surveys to help you land more leads for your business.

How to use surveys to engage your audience

There are a variety of ways that you can use a survey to engage your audience. Buzzfeed is probably the best example of a company that has popularized the use of surveys. Their site is full of fun and entertaining quiz-style surveys that have broad appeal.

Surveys

Quizzes work brilliantly for social media marketing. They attract the attention of social network users and bring them to Buzzfeed’s site. They then keep those users there and get them engaged with the brand.

The data generated through these kinds of quizzes could be useful for any firm that wants to use them, though I doubt this is the case with the kind of quizzes that Buzzfeed run.

A quiz, or in our case a survey, can also be used for market research. For example, you could run a survey to your email list or website visitors to:

  • Identify what topics customers want to see covered on the brand’s blog.
  • Gather opinion on a broader aspect of the firm’s industry or niche.

With cold leads, you want to keep your survey short because people are unlikely to want to answer a lot of questions. You can run a longer survey with warm leads or people who are engaged with your business.

Regardless of how many questions you set, make sure to check the completion rate and optimize the survey if appropriate.

Learn More- Economic Survey has estimated 2019-20

How to use a survey to qualify a lead

Surveys can play an important role in qualifying leads and subsequently generating a sale. At Accelerate Agency, the firm I co-founded with my partner, we use surveys to help us secure clients. We send a survey to every company who sends us an inquiry.

Based on our experience we learned the importance of keeping the survey short and focused. The surveys that we run have just 15 questions. We ask a mix of qualifying questions, but also questions that provide insight into their needs and how they measure them. Below are some examples of the kind of questions that we ask companies that want to work with us:

  • Have you worked with an SEO agency before?
  • Do you have an existing relationship with an SEO agency?
  • What is your monthly budget for SEO and digital marketing services?
  • What KPIs do you use to measure the success of your digital marketing?

The information that we gain from these surveys is invaluable when preparing for a sales meeting. It ensures that the pitch we provide aligns with the needs of the customer. It also means that we know we’re a good fit for the customer.

We send surveys to every prospective client who contacts us. We also have a survey embedded in the website to qualify online inquiries. These surveys are useful for qualifying leads.

It’s also possible to use a survey to segment qualified leads onto your email list. This requires setting questions that bucket people into different groups based on their answers. This approach is useful for warming leads because you can send people targeted messages based on their pain points.

Use a survey to assess customer satisfaction and secure repeat business

For businesses of all shapes and sizes, the post-purchase process is both an opportunity to increase profits and improve customer service. Exit surveys are a common way to assess customer satisfaction.

Sent after purchase, they let you ask customers to feedback on their experience with you. These surveys provide an opportunity for you to gain valuable input on your service.

You can use an exit survey to gain insights on the areas of your business that you could improve upon. This can range from the on-site experience of an e-commerce store for example, through to the quality of the product or service that you provided.

Information like this is invaluable when conducting a review of your business, or as a means of benchmarking your service against competitors. If the aim of the exit survey is solely to generate customer insights then your exit survey should be delivered after the customer has received the product or service that they purchased. If you send your exit survey too soon then you will miss out on valuable insights regarding the product or service.

Using an exit survey in this way creates a good overall impression of your brand. In turn, that might make them more likely to give you repeat business so long as you maintain the relationship with them.

On the other hand, you can also use an exit survey to upsell customers. If you decide to use an exit survey to sell to a customer then you should send the survey within a maximum of two weeks of purchase. This is the sweet spot where your customer is most likely to continue to be in the buying mood.

Post-purchase Customer Satisfaction Score (CSAT) surveys can also help you in other ways. You can use an exit survey to ask for recommendations from your customer. This is often combined with an offer of in-store credit for recommendations or a discount for the person who is being referred and the individual making the referral.

It is worth keeping in mind that you can and should incorporate the survey feedback you receive to tweak your marketing and promotional material. That may mean adapting sales copy to incorporate the terms and language as your customers in your sales copy. Or it might mean changing the focus of the service slightly so it aligns better with the pain points of your customers.

Conclusion

Surveys are a useful marketing tool that can help you engage customers and turn warm leads into customers. In this guide I’ve revealed different strategies for utilizing surveys that you can apply to engage customers at all levels of the customer journey.

These strategies are certainly effective as we’ve implemented strategies like these for clients at our company to help them increase engagement on their site. In addition to this, we apply these strategies at Accelerate Agency to generate more leads for our own business.

Hopefully, your head is now full of ideas of different ways you can apply these tactics to your business, whatever it happens to be. If you have any questions about anything covered in this post please let me know in the comments below.

Economic Survey has estimated 2019-20

Economic Survey

Investment rate should pick up in FY20 on higher credit growth and improved demand, the Survey, projecting the state of the economy and outlining the challenges facing it, is believed to have said

Economic Survey

The Economic Survey for 2018-19, tabled in Parliament on Thursday, is said to have estimated the gross domestic product (GDP) growth for 2019-20 at 7 percent, mainly on a stable macroeconomic situation in the country. Television reports say that the Survey has attributed an economic slowdown in the January-March quarter partly to election-related uncertainty.

learn More- Budget 2019: Income tax changes you can expect

Investment rate should pick up in FY20 on higher credit growth and improved demand, the Survey, projecting the state of the economy and outlining the challenges facing it, is believed to have said. A decline in the banking sector’s non-performing assets (NPAs) should help push the capital expenditure cycle, making case for an accommodative monetary policy to help cut real lending rates, according to TV reports citing the Economic Survey authored by Chief Economic Advisor Krishnamurthy Subramanian

Economic Survey 2019 sees lower global growth and increased uncertainty over trade tensions affecting India’s exports, and lower global oil prices boosting consumption, Reuters said citing sources. The Survey is also believed to have estimated that India will need to grow at 8 percent annually to become a $5-trillion economy by FY25.

The Economic Survey of India 2018 was tabled in the Parliament on 29th January 2018 by Finance minister Arun Jaitley. Economic Survey is a document which is presented in the Parliament prior to the Budget every year.

The document outlines major economic indicators, flagship programs, happenings, challenges and policies of the previous 12 months; it also communicates future economic indicators and much more. The Economic Survey of India 2018, prepared by Arvind Subramanian the Chief Economic Adviser to the Government of India had bright pink cover to send the message of empowerment of women.

Budget 2019: Income tax changes you can expect

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According to economists, the authorities could increase this limit further to incentivise buying housing properties for fostering demand in the industry. Someone can claim this deduction from the year in the building of the home is completed. More tax advantages towards healthcare Income tax exemption limit Tax-free bonds may witness a comeback Higher income tax deduction One of the key aims of the authorities in the budget will be to enhance infrastructure jobs as it holds key to boosting job growth and pushing up demand.

Since the real-estate industry has been affected negatively because of a demand slowdown, the government could offer more tax benefits to buyers and provide a much-needed increase to the industry. But, people should notice that such a movement is unlikely given the economic delinquencies which need to be tackled by the authorities. While the government may not honour all their requests, it is very likely to take particular steps to facilitate taxation on the middle-income group.

Economists imply that not many changes will be introduced in tax given the current financial situation. Greater deduction on home loans The tool will help the authorities raise capital through government entities for infrastructure projects. Such bonds are known as’tax-free’ as the interest earned on them isn’t taxable. The limit could be increased from the present Rs 25,000, related to individuals aged below 60 years, under Section 80(D).

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The concession could also be raised under Section 80(D) for individuals over age 60 years. The present limit of exemption for individuals over 60 years is Rs 50,000. Individuals exempting a increase in exemption limit may end up being disappointed however, the government could cheer them up by introducing greater deductions under many sections of the Income Tax Act. In such a scenario, it wouldn’t be a surprise when tax-free bonds witness a comeback. The income tax deduction permitted under Section 80(C), now at Rs 1.5 lakh, might be raised to Rs two lakhs or above.

Learn More- A touch of realty: What can we expect from Budget 2019?

 

They have demanded the government to increase the overall tax exemption threshold or present tax breaks to reduce strain in their home expenses. Since a full tax rebate up to Rs 5 lakh was released under Section 87A at the interim budget, it’s not likely that there will any other change in the exemption. But citizens and many industry bodies want the government to boost the tax exemption threshold from the existing Rs 2.5 lakh to at least Rs 3 lakhs.

But, tax experts said the government may present some sops to improve demand and speed up economic growth. Having said that, here are a Couple of likely income tax changes which could be announced by Nirmala Sitharaman: Considering that the government would like to grow the nation’s tax base, such a move is highly improbable. There are high chances that the government will boost deduction under tax saving instruments offered in healthcare.

Industry bodies have already asked the government to boost tax saving under Section 80(D) of the Income Tax Act. Many are hopeful that the government would make amends to increase the limitation but it would cause a reduction in the current tax base as more individuals will be exempted from paying income tax. The majority of the requirements which have been suggested in the run-up to July 5 pertain to reduce taxation, especially those belonging to the middle-income group.

property Portal In India

You’ll also have to worry about the amount of attention your website will receive. Often times, when you receive services your account is seen as just another in the pile of customers.

Do chandigarh real estate need HDTV? A flat panel LCD TV with EDTV is more affordable, but it can not display high-definition signals . The price gap between flat panel HD-ready LCDs and ED-ready LCDs is low, so you are better off buying a set that is HD-ready . In fact , most experts say there’s little reason to get a LCD television. These lower resolution LCD TVs won’t have the ability to accept high-definition signals , so the picture will not look any better than regular analog TV. And little HD-ready LCD TVs are available for $500 or less, which is cheap enough that there really isn’t much to”save” on a non-HD LCD TV.

Maybe all he wants is a source of sex. Maybe he wants is someone to do things and at the same time make him feel like he’s needed.

Don’t just watch monies. You will need to watch other markets also . The markets, such as Property In chandigarh stocks , commodities, and currencies are linked in more ways than one. The other markets are led by some of the markets. Knowing which markets are which are followers and, leaders is important, so you will need to do your own research.

You’ll want to invest in a pair of soccer shoes that fits well, is designed for your particular skill level and accommodates the field type and weather conditions in because so much of the game depends on your feet. You will want to do your homework first and then invest in the best soccer shoes for your game and you.

With the recession that’s happening part time job for realtors is becoming a real need with many. With mortgages foreclosing it appears that available signs are popping up like mushrooms. With nobody interested in buying because they can’t afford to purchase. While real estate is now a part of the net and tool to assist.

We all have dreamed of becoming wealthy and there is. It’s important to know that many individuals have a mindset that has helped them obtain great wealth. The person will have goals and they’re ready to work at there targets until they are achieved by them. They will have a positive outlook on any circumstance and will look as half full. They don’t listen.

Contact is one of those classic methods of selling endeavor, in any sort. The private and most simple method since it involves going around, knocking at doors, staying for a little chat and introducing yourself and largely your merchandise. Leave contact information and follow up them .