Newsletter : April 2010


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The gifts received in the names of one’s minor children will be clubbed with the parents’ income for taxation purpose. Also the taxman is very alert in saying that, in case of both parents having income, clubbing will be done with that parent who is earning more. So one cannot hide under the cover of their minor child (ren) receiving the gifts.

High Value Gifts were a safe haven to show one’s love to others financially. Now the tax man has tightened (putting it mildly) the strings attached to gifts. In fact the rule has become so tight that it may be the end for all high value gifts in India.

What is deposit insurance?
It is a limited level of protection provided by the government to depositors against bank failures. Every bank is mandatory covered under the level of Deposit Guarantee and the Insurance Corporation of India. It is particularly relevant in countries like India where financial literacy is very low. At a macro-level, its objective is to contribute to the stability of the financial system.

Money does not grow on trees is an old saying. But when it comes to children, they actually need to be taught that.

For instance, when parents have withdrawn money from automated teller machines (ATMs), their children think that it is a machine that dispenses cash for one and all.

Consuming certain foods has been proven to help lower cholesterol levels, thus helping you to avoid cholesterol medications or take a lower dose of medicines.

We all are familiar with the idea that egg yolk, butter, and fried foods are bad for your cholesterol levels. But are you aware that in addition to cutting down on these bad foods, you can also add some foods to your diet to lower your cholesterol?

YOU just got news that your home loan has been approved and you are on your way to see an existing model of your future home. Your heart is pounding with excitement, but wait, the tedium of paperwork is not over yet. You need to ensure that your agreement with your builder has no unforeseen loop holes that can plunge you in a legal mess!

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