Are you prepared for a poor salary increment?

Are you prepared for a poor salary increment?

For most, appraisal season brings along a sense of nervous optimism. This year, hiring and staffing managers are expecting poor appraisals for employees in several sectors including IT, telecom, real estate and startups, due to micro- and macroeconomic factors. Further, employers are under extreme pressure to retain the best in the firm with adequate growth in their appraisals, considering the future prospects of the business. This means that there might not be enough to go around, and your salary hike could turn out to be disappointing. While you can’t do…

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NPS for tax savings & good retirement planning

NPS for tax savings & good retirement planning

The national pension scheme is a great way to plan retirement as tough partial withdrawal norms help save the final corpus The national pension scheme (NPS), as it is popularly referred to, is a government-backed retirement scheme, which is available to all Indians, aged 18 to 60. NPS has two separate schemes under its general plan, which is open to the general public across the country. The two schemes are named tier I and tier II schemes. While the tier I scheme is a mandatory plan. Only on possession of…

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Contingency Fund is critical for Every Salaried Individual

Contingency Fund is critical for Every Salaried Individual

Losing job is a reality, have a Contingency fund to keep you afloat Nishant Mongia, a 40-year-old software professional, woke up to a call on a Monday morning from his office telling him he was out of a job. Mongia, the only bread earner in his family, had no clue what to do as he had not made provision for a contingency fund.   With permanent jobs becoming a myth, this is a situation many people fear. Most experts say keeping an ‘Emergency Fund’ or a ‘Contingency Fund’ is the…

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Income Tax Exemptions – The layman’s look up

Income Tax Exemptions – The layman’s look up

Talking about Tax Exemptions, the Salaried individual would have heard lot of jargon from the HR or finance personnel in the company regarding elements in the pay structure which are exempt from tax. Well, if you really want to know what these exemptions are all about, and the effect it has on your taxable salary read on….   What are Tax exemptions really? Tax exemptions are monetary exemptions. It reduces the total taxable salary. An item from the income that is exempt from tax or not taxable has a tax…

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E-filing your returns: Here’s a quick guide as the July 31 Income-Tax filing deadline nears

E-filing your returns: Here’s a quick guide as the July 31 Income-Tax filing deadline nears

Get setup quickly and easily for E-filing of Income Taxes Anyone earning Rs 5 lakhs or above can log onto http://incometaxindiaefiling.gov.in/ and create an account using their PAN number. Once this is done, the person has to login to his or her account to proceed to file for tax returns. It is best to read the instructions provided before filling up the forms and filing for tax returns. Step 1: The first step is to choose the correct income tax return (ITR) form. It is ITR-1 for all salaried individuals….

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First Salary – Pay, Perks and Provident Fund

First Salary – Pay, Perks and Provident Fund

Just like every other year the work-force will have new entrants this year too. The first salary is sacred and sentimental to many and marks the beginning of adult life. Graduates and Post Graduates from many educational institutions get placed in companies across India through the campus recruitment process which, for most parents and students is the ‘be all and end all’ of their education. For many it’s the placement or job guarantee offered seems to be the very purpose of education. Perspectives and opinions aside, most graduates entering the…

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