The Mercado

  In an auto sweep bank account there is a threshold limit, if your balance crosses that limit then the extra amount will be debited from ur ac and it will be credited to a new TDR or STDR (fixed deposit account). But subsequently, if u need money then this fixed deposit amount will be automatically available and u can withdraw the amount. Example as per SBI: if ur ac balance crosses 35K (threshold) then an amount above 25K (resultant) will make a TDR/STDR. Suppose, if the balance is 40 K then one TDR will be created of Rs 15K and the remaining amount of 25K will be available in a savings account. Now don't put pressure on your mind. Just go to your bank the next day and get it enabled. Only, If you are a guy who likes to keep their 90% money in a bank account. This could be a good option for you.

  1.  TDS REFUND  Even if your income is not taxable, tax may be deducted from salary, FD, or any other source. For instance, if your overall income is less than 2.5 lakhs but you received Rs. 1 lakh from an FD in the bank, the bank should withhold 10% tax on this. In such a case, the tax deducted by submitting an ITR can be reimbursed. In layman language, an individual needs to file a tax return to claim any TDS deducted at the source.   2.  GETTING A  VISA   Popular for  punjabi and south guys. If you guys want to go to abroad for business or jobs start filing returns. The inclusion of proof of ITR in a visa application lessens the likelihood of the application being rejected or marked problematic. The tax return demonstrates that the individual is a responsible citizen. These days, due to increased security concerns, several nations require ITR for visas. For example, when applying for a Schengen Visa, you must submit the returns filed in the p...

 It's very simple to get your TDS money back which was deducted by the person who has made your lumpsum payment against the freelance service you provided.  Freelance service could be your retainers period in the company. The retainership period is the period at which you haven't got the name tag of the "employee" in your company. Or it could be individual rendering services to any company or any person legally where TDS is deducted against your payment. You don't have to hire a CA to do such tiny work. Just go to any accountant nearby and get your TDS refund from Government.  You can do it by yourself but you need to see videos and learn the concepts, believe me, you don't have to do it coz a normal accountant will not take much amount to get this done.  So if you ask me is it important to file a return for that, then the answer is, "yes". And trust me IT return filings are beneficial for you in many ways. We will discuss the benefit of filing retu...

 1. What Type of investment policies are more popular in life insurance companies?  The answer to it I leave it upon you. You go and search and find the best deal in investment plans. All those who invest in LIC are true social activist in India. it is because of these people Lakhs of LIC agents are able to earn the bread for their families. I salute all the LIC policy holders for your selfless donation towards the betterment of LIC agents. I will give you a real example, I know of a guy who didn’t do well in their studies. But he has his own Mercedes Benz, and  he travels to the USA and Europe . He must be  earning 3–4 lakhs per month  and do I need to tell from where?? Obviously as LIC agent. If you aren't a maths hater then I will ask you to take up a calculator and try to sum up all the amount you pay as a premium and what you get back after maturity. You will be happy to see such a large amount you will be getting after your premium paying years. ...

  “The biggest mistake that people make is that they don’t plan” Financial planning is one key to a peaceful life. Even if one is new to earning a stable income, fix  a ratio of needs (rent, electricity, water, petrol, essentials, etc), wants (clothing, travel, other luxuries), and investment. 2. “Ideally don’t take a loan or if you do then it should be less” If an education loan is taken, do it in your name and not in your parents. It is better to reduce and eliminate loans in your twenties. In case you are planning to invest, it is better to have no such liabilities and that loan interest which will be paid by you will help you in tax deduction under 80E. 3. “I have started a war against fixed deposit (FD). I’m ready to fight with the person who can convince me that FD is a good investment”. Especially if you are in your twenties, FD is not an ideal investment option. It only protects money and doesn’t give a chance to grow it. Stocks and equities, in my opinion, are the bes...