HOW TO SAVE 1 CRORE
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Best inverter ACs 1.5 ton for optimal cooling and energy savings (July 2024)
Explore the pinnacle of cooling innovation with this curated selection of the best inverter ACs 1.5 tons. Designed for medium to large spaces, these AC units boast energy-saving features, rapid cooling technology, and advanced air purification systems. From whisper-quiet operation to precise temperature control, discover the perfect blend of performance and efficiency with these air conditioners to keep your environment cool and comfortable all year round.
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From Rs 1,500 Salary to Rs 36 Crore Entrepreneur: How a 10th dropout built a 400-car fleet company
Ashfaque Chunawala, a 37-year-old Oshiwara resident, transitioned from earning Rs 1,500 as a retail store attendant to owning a 400-car fleet. Dropping out after Class X, he pursued multiple jobs, eventually discovering a ride-hailing app in 2013. His strategic investments and perseverance led to his success, making him a recognized entrepreneur with plans to expand further.
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How to save Rs 1 crore with a monthly salary of Rs 50,000
Accumulating a Rs 1 crore corpus might seem like a distant dream for someone earning Rs 50,000 a month. However, with discipline and a strategic approach, it is achievable. Experts recommend systematic investment plans (SIPs) in equity mutual funds for wealth creation over the long term. Starting investments early and gradually increasing SIP contributions can significantly accelerate your progress towards becoming a crorepati. ET Wealth Online explains how you can save Rs 1 crore with Rs 50,000 salary.
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How to save Rs 1 crore in 10 years, 15 years, 20 years: Check how much you need to invest every month
Path to becoming a crorepati? Owning Rs 1 crore is an investor's dream. Strategic investments, like SIPs in equity funds, can help reach that goal. Regular investing and a long-term view are crucial. Even a Rs 1,000 SIP can grow substantially over time, thanks to compounding. Disciplined investing is key to turning your crorepati dream into reality. Here is how to accumulate Rs 1 core from mutual fund SIPs in 10 years, 15 years, 20 years and 25 years.
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How are equity savings funds taxed?
Equity savings schemes are funds that belong to the hybrid category. They invest in a mix of equity, debt and arbitrage opportunities. A scheme in this category invests in equity and debt securities, employing a combination of three investment strategies — pure equity (net long equity), arbitrage plays, and debt.
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Interest certificate for filing ITR: How to download interest certificate from SBI, HDFC Bank, ICICI Bank, Canara Bank, Axis Bank
Interest certificate for filing ITR: Here is how to download interest certificates from top banks such as SBI, HDFC Bank, ICICI Bank, Canara Bank, Axis Bank, and Kotak Mahindra Bank.
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4 ELSS mutual funds turn monthly SIP of Rs 30,000 to Rs 1 crore in 10 years
Quant ELSS Tax Saver Fund, the topper in the category, turned the monthly SIP investment of Rs 30,000 into Rs 1.45 crore in the last 10 years. The scheme offered an XIRR of 26.58% in the same time period.
How to use NPS to reduce tax outgo by Rs 50,000
Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.
Taking a home loan? 5 ways you can reduce cost of borrowing and save money
The longer the tenure of a loan, the higher the interest burden. Home loan rates will not come down as the RBI has kept policy rates unchanged. If you are planning to buy a house with a loan, ET Wealth suggests some ways to reduce the cost of borrowing.
Use this formula to save Rs 1 crore quickly
Is there a specific amount of time required to accumulate Rs 1 crore? But for most of us, just reaching this Rs 1-crore milestone might seem difficult. Depending on your investment amount and rate of return, it will vary. However, it's not as hard as you may imagine. Over time, you may easily double or treble your savings with a little discipline and the magic of compounding.
How NPS, other perks can save Rs.1 lakh income tax
Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.
Stock market fraud via WhatsApp, Facebook, Telegram: Two investors lost over Rs 3 crore; how to identify scam and protect yourself
Stock market scams via WhatsApp, Telegram, Facebook or Instagram: Two investors lost over Rs 3 crore in separate scams, highlighting a concerning trend. Fraudsters lure victims via social media with promises of high returns. They use fake profiles, apps, and WhatsApp groups to build trust before blocking withdrawals. Beware social media stock tips promising high returns. It's a scam! Learn how to identify fraudsters and protect yourself. Read for modus operandi and red flags here.
How to save Rs 1 crore with a monthly salary of Rs 25,000
Building a Rs 1 crore corpus with a Rs 25,000 salary requires discipline and time. Experts recommend consistent investment in equity mutual funds via SIPs for long-term wealth creation. Starting early and increasing SIP contributions can accelerate wealth creation significantly if you know the right tools. Further, you must consider factors like risk tolerance and investment tenure as well. ET Wealth Online explains how you can become a crorepati even with a salary of Rs 25,000 per month.
How to grow your money: 6 investing thumb rules to become wealthier
Financial thumb rules: Here are 6 thumb rules of investing to help you become a successful and wealthy investor.
Saving Rs 1 crore could be easy if you know this trick: How to become a crorepati with an SIP of Rs 5,400 per month
Most of you are familiar with systematic investment plans (SIPs) — disciplined investments in mutual funds. You need to use certain tips and tricks of SIP to achieve your financial target quickly. Here comes top-up SIP or step-up SIP. While traditional SIPs offer a regimented savings plan, step-up SIPs automatically increase your investment amount at set intervals. How to use step-up SIP to accumulate Rs 1 crore starting with an investment of Rs 5,400 a month.
This small cap mutual fund turns monthly investment of Rs 20,000 to Rs 1 crore in 10 years
ETMutualFunds analysis reveals Quant Small Cap Fund's remarkable feat: turning a monthly SIP of Rs 20,000 into Rs 1 crore over a decade, boasting an impressive XIRR of 27.24%. Managed by Ankit Pande, Vasav Sahgal, and Sanjeev Sharma, the fund allocates predominantly to small caps.
'I am begging you': Delhi CM Kejriwal issues rallying cry to India to 'save democracy'
Arvind Kejriwal, recently released on bail, rallies Indian citizens against what he deems Prime Minister Narendra Modi's autocracy. He calls for collective action to preserve democracy, urging support from the nation's populace. Additionally, he counters BJP's criticism, highlighting PM Modi's imminent retirement age of 75 and the party's succession patterns.
Epidemic of digital scams: How to protect yourself and elderly family members from frauds
The obvious choke point is the banking system. Digital fraud, by its very nature, has to route the loot through digital transfers between bank accounts. This is what enables this type of crime. If dealt with properly, this is also its weak link. While there is some news about banks’ proposal to link with MHA’s cybercrime system, a lot more needs to be done.
Saving for multiple goals? Use current rally to get rid of underperformers
The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and their suitability with regard to the goals and, if required, recommends corrective measures. The advice given is based on the performance of the funds, the risk profile of the investor as well as his financial goals.
Budget-Friendly F1: How to attend 'Formula One' races without breaking the bank
Formula One has a reputation for being elitist. But with a little bit of foresight and creativity, it’s possible to attend a race without blowing your budget.
How to restructure salary, investments to cut income tax outgo by Rs 64,557
Under Section 80CCD(2), up to 10% of the basic salary put in the NPS on behalf of the employee is tax-free. TaxSpanner estimates that Patil can reduce his tax by almost Rs.65,000 if his company rejigs his pay structure to include some tax-free emoluments and he increases the contribution to the NPS to 10% of his basic salary.
RBI Floating Rate Savings Bonds likely to offer 8.05% interest from July 1, 2024; is it the right time to invest?
The interest rate of RBI Floating Rate Savings Bonds 2020 (Taxable) is not fixed. It is linked to the National Savings Certificate (NSC), a small savings program offered by the Union government. The RBI Floating Rate Savings Bonds offer an interest that is 0.35% higher than the prevailing interest on the NSC. The interest rate on Floating Rate Savings Bonds is reset every six months and due on July 1, 2024. What will be the interest on the RBI Floating Rate Savings Bonds 2020 from July? Should you invest in RBI Floating Rate Savings Bonds 2020 now? Check details.
'Sequence of returns’ risk can wreck your retirement planning: How to protect retirement corpus from it
'Sequence of returns’ risk is the risk of negative returns occurring later in your working years and/or early in your retirement life. It particularly comes into play during the five years before and five years after retirement— the ‘fragile decade’. Investors in this phase of their lives are most vulnerable to sequence of returns risk. Find out how to protect your nest egg from negative returns in the years before or after you quit work.
Tax-saving tips: HRA tax-free after rent to parent; how to reduce tax outgo by Rs 83,264
Gupta can reduce his tax by more than Rs.83,000 if he claims HRA exemption by paying rent to his father, if his company offers him the NPS benefit, and he invests more in the scheme on his own. Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.
How much to invest monthly to create a corpus of Rs 2 crore in 10 years
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Tax-saving ideas: How to restructure your salary to reduce income tax outgo by more than Rs 1 lakh
Taxpayers can reduce their tax significantly by reformatting their salary. If companies restructure their compensation packages by replacing taxable emoluments with some tax-free perks, they can lower the tax liability of their employees. There are several such tax-exempt allowances, including food coupons and reimbursement of expenses on fuel and travel, newspapers and periodicals, phone and Internet. The taxable portions of the salary, such as the special allowance, can be reduced to make place for the tax-exempt allowance. Find out how to go about it.
How to earn Rs 1 lakh every month during retirement; experts answer
Want to your investments to work for you during retirement? Want to save money more efficiently? How to do tax planning this year? Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
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