GJM & Co.

Know Your Tax Exemptions! Few weeks are left before the end of the financial year (FY) 2017-18.   It is important to make sure that you have been able to take the maximum advantage possible of the various tax exemptions available for this year and also know what you can plan for the upcoming FY 2018-19. For you benefit we have enlisted below the tax exemptions available for FY 2017-18 & FY 2018-19 as proposed under Budget 2018: Section 80C One could invest in the following instruments under this section to claim tax deductions: 1. Employee Provident Fund (EPF), 2. Public Provident Fund (PPF), 3. National Savings Certificate (NSC), 4. Payment towards children’s tuition fees, 5. ELSS, 6. National Pension System (NPS), 7. Life Insurance policy premiums, 8. Deposits in the Sukanya Samriddhi Yojana, etc.   Under this section, any individual or a Hindu Undivided Family (HUF) can claim deductions up to Rs 1,50,000. Section 80CCD An individual can clai...

Important things to take care of before transferring a Home Loan Banks and finance companies are trying to gain business by offering lower interest rates. But you, as a borrower, need to look at other aspects as well, before moving your loan from one bank to another. Here are the six things you must consider “You can transfer your high-cost home loan from any other bank to our bank and not only save on interest but also avail a higher loan amount” is the pitch from one of well-known banks. Most of us would definitely be tempted to go in for such a transfer. And why shouldn’t we? For the double benefit that is being provided, why would anybody not avail such an opportunity and that too when interest rates are so high? But stop and think. Is it all so simple? Should I actually go a step ahead to find the details? The answer is “yes, you should” and here is WHY and WHAT you should look at. Technically called “takeover of loan”, transferring a loan means approaching a bank a...