Finance Forum India

  Going to America for a month-long official trip? Want to drive around the country to explore its diverse sights? Planning to visit relatives in the United States of America and travelling along the coast with them in a car? All the three questions lead to exciting opportunities, especially if you love to travel and drive a car. Just as you need a Driving License to drive a vehicle in India, you need an International Driving License to drive a four-wheeler in America. Read ahead to know details about availing an International Driving License.   What is an International Driving License?...

One of the most important steps in selling or buying a vehicle is getting the ownership transferred in the name of the new owner. Without this, the process of selling a vehicle is not complete. If you are looking for information on transferring a vehicle, you are on the right page. Here are the documents you will need for the transfer of ownership: Documents Required for the Transfer of Ownership Form 29: This form is to notify the authorities about the transfer of ownership between the buyer and seller. This is the RTO application form for transferring the ownership. Form...

    The excitement of learning to drive and acquiring a driving license can vanish quickly if a new driver is repeatedly caught by the traffic police. To avoid this, here are 10 most basic traffic tips for new drivers: #1 Documents Many new drivers are not aware about which documents are to be carried along while driving. Only when they are stopped by a traffic police officer, they realize that it is necessary to carry other documents along with the driving license.   To drive a car anywhere in India, a driver needs to carry the driving license, Pollution...

Your children have a better opportunity to seek higher education in several foreign and domestic universities. Parents must start saving for their children’s education early to ensure they have the required corpus to meet the expenses. However, saving for your children’s education must not mean ignoring other goals, such as your retirement. You must differentiate between short-term and long-term goals. An important long-term goal is retirement and you must never compromise on saving for it. This is because any shortfall towards paying for your children’s education may be funded through a loan. However, any shortfall in your retirement corpus is not...

For an average Indian household, children’s education continues to be one of the biggest expenses. Education costs are constantly rising and planning for this outflow is very important. Lifestyle inflation also affects the cost of your child’s education. As living standards become higher, parents want to send their children to the best institutions. Furthermore, children grow up in a certain atmosphere and do not want to attend government institutes that do not offer the latest and best technologies. In this situation, financial planning is crucial to ensure your child’s education is not compromised. You may be able to build the required...

There are only a few weeks left before the announcement of the fiscal budget. Market participants are now looking for possible changes that may be announced, which would affect their investment decisions.    Some market participants anticipate modifications to Long-Term Capital Gains (LTCG) tax on equities. This is to cover the reduction of revenues due to the implementation of the Goods and Services Tax (GST).    Several analysts believe that the implementation of LTCG on equities may prevent investors from investing in this asset class. In addition to retail investors, LTCG on equities may deter institutional investors from investing. Such investors have pumped in...

To boost savings among the Indian population, Finance Minister Arun Jaitley may be contemplating increasing the tax exemptions according to section 80C falling under the Income Tax Act to INR 2 lakh. Currently, the maximum limit under this section is INR 1.5 lakh per annum. There are several investment options eligible for tax deductions as per section 80C. Some of these include Public Provident Fund (PPF), National Pension System (NPS), National Savings Certificate (NSC), tax-saving fixed deposits (FDs), Equity-Linked Savings Schemes (ELSS), and many more. How will the increased limit affect investors? The primary aim to enhance the section 80C limit...

The prospect of going to a foreign country as a student can be a set of mixed reactions. You feel excited about the idea of exploring new avenues and learning. But, at the same time, you may have apprehensions and worries with the notion of being all alone in unfamiliar surroundings. There are a lot of things that may not be under your control abroad. Things such as food, the hostel, your academic environment or even the local safety for that matter are some of them. That being said, there are indeed certain aspects that you can take care of in...

These days, many people are resorting to personal loans when they are unable to arrange money from other sources. Unfortunately, there are lots of misunderstandings about personal loans that prevent people from making the best use of this financial instrument. Let’s see the what(s), when(s), where(s) and how(s) of personal loans to better understand the actual reality. Personal loans are unsecured loans that are offered to applicants after assessing their credit history and loan repayment capacity. Since these are unsecured in nature, (i.e. the borrower does not need to bring in any collateral), the personal loan interest rates are higher than those of other secured...

Accidents on roads don’t come calling you out. With reckless drivers swerving their rides on an equally pathetic road, things could get worse in the blink of an eye. To top that, if there is a bad weather, you are somewhat doomed. One slip from your bike and your hard-earned money flows out of your bank account like water. Yet, one should always be prepared. Therefore, there ought to be some risk protection and that comes with a decent bike insurance plan. With matters of money, you should not hurry. You had bought your bike with a lot of money. It’s...