Wealth of Wisdom - WOW

2021-04-02 09:53:45 Imagine you are a deer.
You have essentially only four things to do during the day:
sleep,
eat,
avoid being eaten and
socialise (by which I mean mark a territory, pursue a member of the opposite sex, nurse a fawn, whatever).
There is no real need to do much else.
Now imagine you are a human being.
Even if you only count the basic things, you have rather more than four things to do:
sleep,
eat,
cook,
dress,
keep house,
travel,
wash,
shop,
work ...
the list is virtually endless.
Deer should therefore have more free time than human beings, yet it is people, not deer, who find the time to read, write, invent, sing and surf the net.
Where does all this free time come from?
It comes from EXCHANGE and SPECIALISATION and from the resulting division of labour. A deer
must gather its own food.
A human being gets somebody else to do it for him, while he or she is doing something for them – and both win time that way.
SO LET'S SHARE KNOWLEDGE & GROW TOGETHER
Have a great Financial Year ahead
Regards,
Srikanth Matrubai
Srikavi Wealth Open / Comment

2021-04-01 18:22:50 FY21, the best year for Indices in last 10 years

In FY21
Nifty +71%
Sensex +68%
Nifty Bank +74%
Smallcap +126%
Midcap +102%
Nifty Metal +150%

In FY21

5 Nifty Stocks up >200%
15 Nifty Stocks up >100%
37 Nifty Stocks up >50% Open / Comment

2021-04-01 16:45:45 Open / Comment

2021-04-01 12:43:17 WEALTH WISDOM

Wealth is everywhere.
Open your eyes to the money-making and money-saving opportunities around you

#WealthArchitect
#Wealthyhabits Open / Comment

2021-04-01 12:43:12 Photo from SRIKANTH MATRUBAI Open / Comment

2021-04-01 12:42:03 It is new financial year starting,



It is April Fools day as well,



Whatever you focus grows in life.



If you focus on growth it will grow,



If you focus on your pains in life, for sure the pains will keep increasing from one form to other forms.



Yesterday there was news from finance ministry that Interest rates have been reduced for

PPF from 7.1% to 6.4%,
Bank deposits rates from 5.5% to 4.4%,
Senior citizens savings scheme reduced from 7.4% to 6.5%
Sukanya Samriti scheme reduced from 7.6% to 6.9%


It was immediately withdrawn today early morning that “Order issued oversight” has been withdrawn.



Point to note here is that this existing rates will continue for just one more quarter.



Reason for extension may be known to many and that this change is also imminent.



Why the interest rates is being revised every quarter now ?

Interest rate provided depends on the prevailing inflation rates and bank rates set by RBI.

At present the inflation rates are around 4-5% and bank rates also reduced to less than 5%.



In this scenario, Government cannot provide higher interest rates.

Look at asset allocation across Mutual funds, Equities, Gold etc from investment point of view for better returns in this financial year. Open / Comment

2021-04-01 11:42:54 *What an irony ? A New Financial Year starts on "April Fool's Day"...*
Effectively, most of the investors are actually fooled by Low Yield, Illiquid, Wasteful Investment and Insurance Products.
So let's resolve that we would not get fooled this year...rather we would FOOL our ignorance and financial illiteracy this year. Let's resolve to be bold and decisive and pledge not to buy, subscribe for any product/services which is not beneficial for us.
....Have a Solid rewarding financial year ahead. Open / Comment

2021-04-01 11:41:42 *April Fool* ... _Here is brilliant idea to fool onself_
Tell yourself that inadequate life, mediclaim or personal accident insurance is not a problem at all. Kuch nahi hota hai yaar, agale mahine dekh lenge. Take it lightly yet enjoy life Happy New Financial Year.

#DontRetireRich Open / Comment

2021-04-01 10:05:13 *FIVE TAX RULES THAT WILL COME INTO EFFECT FROM 1ST APRIL 2021*

Union Finance Minister Nirmala Sitharaman presenting Union Budget 2021 had announced a slew of changes in the income tax rules. These changes are set to come into effect from 1 April 2021. According to the new rules, senior citizens of the age 75 and above with income from pension and interest from fixed deposit in the same bank would be exempted from filing ITR from April 1. Besides, the Finance Minister proposed higher TDS (tax deducted at source) for those who are not filing their ITR and announced to tax people contributing above ₹2.5 lakh annually to the EPF account.

Let's take a look at 5 income tax changes that will come into effect from 1 April:

*1) PF tax rules:* Interest on annual employee contributions to provident fund over ₹2.5 lakh would be taxed from 1 April 2021. The govt said that the move is aimed at taxing high-value depositors in the Employee Provident Fund (EPF). Finance Minister Nirmala Sitharaman said the EPF is aimed at the welfare of workers and any person earning less than ₹2 lakh per month will not be affected by the proposal.

*2) TDS:* In order to make more people file income tax returns (ITR), the finance minister has proposed higher TDS (tax deducted at source) or TCS (tax collected at source) rates in budget 2021. The budget has proposed the insertion of new Sections 206AB and 206CCA in the Income Tax Act as a special provision for the deduction of higher rates of TDS and TCS, respectively for the non-filers of an income tax return.

*3) Senior citizens above 75 years exempted from filing ITR:* To ease the compliance burden on senior citizens, finance minister Nirmala Sitharaman, while presenting Budget 2021, had exempted individuals above 75 years from filing income tax returns (ITR). The exemption will be available to only those senior citizens who have no other income but depend on pension and interest income from the bank hosting the pension account.

*4) Pre-filled ITR forms:* Individual taxpayers will be given pre-filled Income Tax Returns (ITR). In order to ease compliance for the taxpayer, details of salary income, tax payments, TDS, etc. already come pre-filled in income tax returns. To further ease filing of returns, details of capital gains from listed securities, dividend income, and interest from banks, post office, etc. will also be pre-filled. The move is aimed at easing the filing of returns.

*5) LTC*: The central government in Budget 2021 has proposed to provide tax exemption to cash allowance in lieu of Leave Travel Concession (LTC). The scheme was announced by the government last year for individuals who were unable to claim their LTC tax benefit due to covid-related restrictions on travelling. Open / Comment

2021-04-01 05:36:34 Photo from SRIKANTH MATRUBAI Open / Comment