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Union Budget 2015 – A Review

Personal Finance

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March 3, 2015

Union Budget 2015– “Good days are coming” this was main slogan given by BJP government before coming in to power. Every citizen of India believed in this dream and voted for BJP, but it seems we have to wait for good days. Union Budget 2015 was big disappointment from good day’s point of view.

Let’s Review Union Budget 2015-16 & its impact on you in detail.

Union Budget 2015 – Review

For Individual Tax Payer:-

Tax Rate (Slab) remains unchanged for individual tax payer for FY15-16.
80 C limit remains unchanged -1.5 lac.
Wealth Tax is abolished. Separate 2% additional surcharge being levied on income exceeding 1 Cr.
As medical expense are increasing section 80D exemption limit of 15000 Rs/- is enhanced to 20,000 Rs/-. For senior citizen this limit will be 30,000 Rs/-.
It is proposed to increase 80DDB limit to Rs. 80,000 for very senior citizen.
Section 80DD and section 80U is proposed to be amended, new limit applicable for 80DD is 75,000 Rs/- and for 80U it is 1.25 lakh.
Additional deduction of 50,000 Rs/-for contribution to NPS under section 80CCD
Section 80 G is amended and it is proposed to provide 100% deduction for donation towards Swachh Bharat Kosh and Clean Ganga Fund.
Sukanya Samriddhi Account is now fully exempted from income tax, this includes payments to the beneficiaries including interest payment.

For Individual Buyers:-

Service Tax is hiked to 14% from 12.36%. Changes are also made for custom duty & excise duty. Custom duty is reduced on 22 different items.

Following thing will become costlier after budget.

Cigarettes, chewing tobacco, Gutkha and Pan masala
Telephone and Mobile Bills
Food and Hotel Bill
Tution Fees
Gym and Beauty Treatment
Car Maintenance
Courier & packaging
Taxi Services
Business class air travel
Cement and raw material for real estate
Visit to amusement park
ATM , Demand Draft and Loan processing charge
Life Insurance premium

Following thing will become Cheaper after budget.

Locally made mobile phone
LED and LCD panels
Computer Tablets
Solar Energy equipment
Microwave Ovens & Refrigerator
Package food and vegetable
Lather Footwear

Most-liked about Budget 2015:

Proposal to reduce corporate tax from 30% to 25% over the next four years.
Pradhan Mantri Suraksha Bima Yojna to cover accidental death risk of 2 Lakh for a premium of just 12 Rs/- per year.
Wealth-tax is replaced with additional surcharge of 2% for super rich.
10 year imprisonment for offence related to black money & evasion of tax.

Most-disliked about Budget 2015:

No revision for income tax slab
Service tax hiked from 12.36% to 14%.
For Gold Import duty stays at 10%.
Implementation of GST is delayed for 1 year.

Do share your views on Union budget 2015-16.

Union Budget 2015-16 – Key Highlights

Personal Finance

Shitanshu Kapadia

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February 28, 2015

1

Union budget 2015-16 is announced by finance minister Arun Jaitley today.Expectation from budget was very high, but budget seems to be highly disappointing. No major tax reform and relief. GST is delayed by one more year. Let’s look at Key Highlights of Union Budget 2015-16.

Key Highlights -Union Budget 2015-16

No change in tax slabs or tax limit
Exemption limit for transport allowance is enhanced to 1600 Rs/- from 800 Rs/- per month.
Service Tax rate hiked to 14% from 12.36%
Health Insurance premium exemption limit enhanced from 150000 Rs/- to 25000 Rs/-. For senior citizen this limit is enhanced to 30,000 Rs/-.
Senior citizens above the age of 80 years, not covered by health insurance, to be allowed deduction of 30000 Rs/- towards medical expenditures.
Service-tax exemption on Varishtha Bima Yojana.
Sukanya Samriddhi account is under EEE category. Payment to beneficiaries including interest payment is exempted from tax.
Wealth tax is abolished. 2% surcharge on super rich.
Deduction limit of 60,000 Rs/- on certain specified disease is now enhanced to 80,000 Rs/- for senior citizen.
Additional deduction of 50,000 Rs/- for contribution to NPS under 80CCD.
Imprisonment in case you do not file income tax return or you have filed income tax return with incomplete details.
Tax free Infrastructure bonds are back, these money will be used for road, rails and irrigation projects.
GST to be implemented from next financial year.
GAAR is differed by 2 years.
Imprisonment for 10 years for non disclosure of black money.
PAN number is mandatory for any transaction above 1 Lac.
Central Excise duty increased to 12.5%.
New National Insurance scheme Pradhan Mantri Suraksha Bima Yojana is introduced, offering coverage of 2 Lac rupees for just premium of Rs.12 per year.
Individual will not have to pay tax up to 4,44,200 Rs/-

Positive and Negatives of Budget 2015

What is your take on this budget. Do share your views!

Key Highlights -Union Budget 2015-16

ZIPSIP – Mutual Fund Investment Platform – Review

Mutual Funds

Shitanshu Kapadia

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February 28, 2015

9

ZIPSIP – Mutual Fund Investment Platform – Review

ZIPSIP is Mutual Fund Investment Platform by Aditya Birla Money – My universe. This platform helps you to make easy investment in mutual funds. ZIPSIP is for new investor who is eager to invest money in mutual funds but don’t know where to start from. Let’s review what is ZIPSIP and how it can help you?

What is ZIPSIP?

ZIPSIP is easy way to create mutual fund portfolio. You just need to do few clicks and system will generate mutual fund portfolio based on your risk profile. ZIPSIP is claimed to be backed by expert professionals.

How ZIPSIP works?

Visit Aditya Birla Money- ZIPSIP website.
Provide following information
Your age group
How much money you can invest per month?
Your current status like single, married or nearing retirement
When it comes to investment you are beginner, proficient or expert
You would like you investment to earn
- Low Risk Consistent return
- Moderate Risk, Moderate return
- High Risk, High Return
What action you will take If you face loss in money invested by you?
- Sell part of your investment
- Hold in order to get better return
- Buy More

Once you submit all information given above system will find out best mutual funds based on your risk profile.

You can save your plan by providing your email id, name and phone number.

What is Unique about ZIPSIP?

ZIPSIP is fast, effortless and paperless.
ZIPSIP provide suggestion about mutual funds instantly. You need not to spend number of hours to find out best mutual funds for investment.
ZIPSIP is free of cost
This service is backed by experts and mutual fund portfolio is suggested based on their experience and expertise.

I should use ZIPSIP?

ZIPSIP is very good tool for new investors. This tool helps in selecting mutual funds, however there are few shortcomings. Minimum amount of investment using this tool is 2500 Rs/-. Investors are not allowed to shift from low to medium to high risk appetite.

ZIPSIP allows mutual fund investment only as per output by tool. You cannot select and invest in any other mutual funds. No research paper or supporting document provided for selection of mutual funds.

Looking at shortcomings in this tool, this tool is recommended only for first time or new investor, however you can use this tool to quickly find mutual funds that are appropriate for you. It is highly recommended to carryout research before making investment in any mutual fund.

Do you use ZIPSIP for making investment in mutual fund?

Do share your experience with us.

7 Best Mobile Apps for Business

Business Ideas

Shitanshu Kapadia

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February 27, 2015

0

Business demands extensive capital, manpower, skill, resources, and knowledge. Apart from this you also need good computing power and a business app to enhance the efficacy of your business. Multiple smartphone apps are available in the market today I will provide you information about the 7 best apps for business.

7 Best Mobile Apps for Business

Microsoft 365 (Office)

Microsoft 365 (Office) is an office application app from Microsoft. This app allows you to open Word, excel, and PowerPoint documents on the go.

This app automatically optimizes documents based on your mobile screen layout. This app also allows you to edit these documents. The beauty of this tool is although you are editing on mobile formatting and content remains intact. You must download and use this app for business.

Cisco Webex

The Cisco Webex app allows you to conduct online meetings or presentations with your client on the move. Webex allows presentation/screen sharing, and voice and video conference facilities. You can also make multiparty video calls using this tool. Cisco Webex is a licensed product and you need to spend a few dollars for the same.

One Note or Ever Note

One Note or Ever Note is a very good note-taking business tool. This tool allows you to keep all data a single place be it handwritten notes, photos, videos, web articles, or anything else. This tool works with multiple devices. It also keeps all data in sync. It comes with powerful search and tagging functionality. You should use this app for business.

Business Calendar

Business Calendar is a free business app that keeps track of all your important meetings and appointments. It also allows you to add a favorite bar for easy access. You can scroll and view daily and monthly calendar views. A search facility and color coding facility are available with this tool.

Google Drive

Google Drive is a business app for taking backups of your important data. Google by default provides 15 GB of space to end users. This limit can be further enhanced to 30 GB. You can store your all important documents, photos, and videos with Google Drive.

Card Scanner

Card Scanner is a wonderful business app. This app comes with an OCR facility. Take Snap a photo of a business card using your mobile camera and this app will read and extract details from this snap. This app also supports multiple languages.

ZOHO CRM

The CRM app by ZOHO helps you to access customer information available on the CRM portal of ZOHO. This tool offers complete customer relationship management. You can manage end-to-end customer details from this tool like sales, marketing, customer support inventory activity, etc.

Hope these tools will help you to enhance the productivity of your business.

Do share your views on the above!