Month: April 2018

Women have always stayed away from finance related decision making; giving rise to a myth that women can’t handle finances. Interestingly, women themselves take a step back when it comes to financial management. Educated or not, working and even financially independent women almost always let their fathers/ husbands/ brothers do the needful instead. However, a lot is being talked about that women should take charge of their finances irrespective whether they are working or not working. Here are some quick pointers that every women whose going to take money matters into their own hands should consider. Continue reading “5 financial tips to help women plan wisely”

Starting new financial year, change in tax rules will not only affect our monthly income but also impact our day to day life. As tax-payers, we must know of these changes and how they are going to affect daily lives. So here are the reforms, that will change from April 1, 2018.

I. Rs. 40,000/- standard deduction and Transport/ Medical allowance will become taxable –Earlier, salaried employees were allowed a deduction of Rs.19200/- under transport allowance and Rs.15000/- as medical reimbursements. They have now been made taxable. Hence no rebates for these allowances even on submission of bills. However, from now salaried employees will be allowed a flat deduction of Rs. 40,000/- from their taxable income for expenses incurred in relation to their employment. And the best is that you don’t need to keep any bills to claim this deduction!
Continue reading “7 income tax rules that will change April onwards”