College Guy Gets Rich With Investments In Top Performing Mutual Funds In India

College Guy Gets Rich With Investments In Top Performing Mutual Funds In India

Raghu Verma was a regular college goer just like any other boy of his age. While most of his friends spend their money on their habits, Raghu was diligent in his practice of saving. He didn’t like the idea of wasting his pocket money on unnecessary things. He had this habit of saving a quarter of his pocket money right from his school days. Later during his college days, he had taken up another habit, the one that had a big impact on his life. This habit we are talking about is the habit of investing. He started putting a part of his pocket money into mutual funds. However, this decision of investing in mutual funds was not made in a day or two. He took his time in understanding the concept of mutual funds and figuring out the various mutual fund schemes that could bring him the desirable returns.

Early Beginnings

Raghu started his journey with mutual funds with short-term investments. He spent a lot of time in research and acquired some valuable information about mutual funds and other investment options. Being a beginner in the investment industry, he decided to start low and slowly build up his mutual fund investments. Therefore, he went ahead with SIP investments for short term. Soon, he realized the power of investment and started making more investments. He was clever enough to figure out the top performing mutual funds in India. Hence, there wasn’t any problem in investment.

Growing Passion

Within two years, his investments brought him good returns and he became passionate about this new income source. He started spending his time in understanding the world of investment in a better way. He started reading about the most successful investors in the world. He became familiar with the power of compounding. Having known a little more about the investment world, he eventually started adding more investment schemes to his portfolio. He even got a loan with some of the gold he got gifts from his relatives. He used tools like goldloanemi.com to calculate his EMI and made sure to pay back on time. This was another thing that helped him grow financially.

Career Option

By the time he was in the last year of his college, his net worth had grown immensely. He started looking at investment as a career option. His skills at picking investment options had become much better. He has plans to keep growing his investments regularly. He now looks forward towards a lucrative career as an investment analyst.

This was the mutual fund journey of Raghu Verma so far. This story comes with the lesson that the sooner you begin your investments in mutual funds, the better are your chances to get higher returns. There are so many more success stories about mutual fund investments. Read them here to get inspired and become a better investor.

We hope you found this post useful and informative. If you have any queries or suggestions related to this post and if you want to know about the top performing mutual funds in India, please drop your comments in the comment section below.  We would be glad to help you out. To show your support, share this post with your friends on social media and elsewhere.

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How To Calculate HST

How To Calculate HST

GST/HST calculation in Canada depends on the province where you are doing the business. There are provinces which have combined provincial taxes with the Goods and Services Tax. These provinces charge a Harmonized Sales Tax (HST) on goods and services. There are some provinces which have no provincial sales tax. These provinces charge a separate Provincial Sales Tax (PST).

Provinces which charge HST

The provinces which charge HST are Ontario, Prince Edward Island, New Brunswick, Nova Scotia and Newfoundland/Labrador. The HST rates for these provinces are:

Ontario – 13%

New Brunswick – 13%

Prince Edward Island -14%

Nova Scotia – 15%

Newfoundland & Labrador – 15%

Provinces which charge PST

If you have your business where PST is applicable, you have to charge both GST and PST. The GST on the price of the goods has to be applied before you apply PST.

These are the provinces were PST is applicable – Manitoba, Saskatchewan and British Columbia. The PST rates for these provinces are:

Saskatchewan – 6%

British Columbia – 7%

Manitoba – 8%

Quebec – 9.975%

Provinces which do not have PST

The provinces which do not have PST (Provincial Sales Tax) are the Northwest Territories, Alberta, Nunavut and Yukon. The GST in these provinces is calculated by adding 5% of the product’s sale price and adding it to the bill.

Are the exceptions from GST/HST?

In case your business garners annual revenue of $30,000 or less, you are considered to be a small business and are exempted from registering to collect and remit GST/HST. For provinces which charge PST you can qualify for the small supplier exception for the federal GST but in the provinces of Saskatchewan and Manitoba, you will still have to charge PST/RST.

There are some goods which are exempt or zero-rated. This means that you do not charge HST on the customer invoice.

Is GST/HST applicable on sale of goods and services to another province?

When you wish to sell goods or services to another province, you have to charge GST/HST based on the rate charged in the destination province.

Is GST/HST applicable on sale of goods and service out of Canada?

When you ship goods to another country, you do not have to charge GST/HST. However, there might be export/excise taxes involved in the transaction.

This is how you charge GST/HST on your goods and services in different provinces of Canada. We have seen that the tax rates differ based on the provinces. The use of HST calculator can help you do the calculation according to the province. Doing calculations on HST calculator is fast and accurate. However, it is important to learn about the tax rates applicable in different provinces so that you have the idea as to how much tax you need to collect from your customers.

To know the Income tax rates in Canada, check out canadataxbracket.com.

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The Importance of having GST calculator In India

The Importance of having GST calculator In India

The implementation of GST in India was a revolutionary step towards making India economically powerful. The impact of GST can be seen today in the form of a unified Indian market and a progressing economy. While at the initial stage of GST implementation, businesses and people, in general, had doubts about the efficiency of the system, they have now realized that GST has the potential to be profitable for the country in the long run. They have shown tremendous support for this new taxation system. In spite of having troubles in understanding this new taxation system, they believed that it could make a difference in the economy of the country. While there are people who are still cynical about the system, it is mostly because they do not understand the system well. However, efforts are made to educate people about GST and its significance in their business and the overall economy of the nation. Tools and resources have been created to help people understand this new taxation system. Online tools like GST software and GST calculator in India have come to the rescue of Indian businesses who are having a tough time getting used to the GST taxation system.

This article shows you the importance of having a GST calculator in India. If you are a businessman in India or if you are planning to expand your business in India, you need to understand the importance of having a GST calculator. So, without further ado, let’s take a look at the significance of a GST calculator.

  1. Fast Calculation

Calculation for GST can be time-consuming. An online GST Calculator does fast calculations on all goods and services inclusive and exclusive of GST prices. This saves you a lot of time so that you can focus primarily on your business operations.

  1. Flexibility

You can use an online GST calculator to calculate various tax liabilities such as SGST, CGST, IGST, and UTGST in accordance with the rates provided under the GST Law.

  1. Higher Accuracy

Most of the tax calculations in the previous tax regime were done by chartered accountants or accounting software. However, GST-related calculations are new and different. So, you need to use GST software and calculators to calculate GST tax rates and measure your business’s profits and losses with higher accuracy. This will help you do your business without the risk of going wrong with the figures.

GST calculator has become one of the most essential tools for business after the implementation of the GST law. This is one of the handiest tools for taxpayers as it can help them maintain their business accountability. GST calculators have made the process of GST calculation much efficient and reliable.

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Why You Need To Consider Investing In SIP Mutual Funds

Why You Need To Consider Investing In SIP Mutual Funds

Mutual fund investments are a way of earning money through your savings. Because of its flexible plans, more and more people are becoming a part of mutual fund investments. There are so many different mutual fund plans you can go ahead with. Among the many different mutual fund plans, the systematic investment plan or SIP has become the most popular choice. More and more people are now investing in SIP mutual funds wherein a fixed sum of money is invested on a regular basis.

MERITS

There are lots of merits associated with SIP for the investors.

  • The systematic investment plan gives investors the freedom to buy units as per the given date of every month so as to go ahead with certain investment plans.
  • The investors have the choice to decide the amount that they wish to invest in these plans.
  • The SIP schemes make it very safe to invest in equity mutual funds and unit-linked insurance.

BEST CHOICE FOR SMALL INVESTORS

This is the best choice of investments for small investors. If you are a small investor and you wish to make your investments on a regular basis, SIP is the most suitable option for you. With such a plan, you receive the required discipline, easy management and tools for managing your investments. If you are willing to manage a certain amount of investments on a regular basis instead of managing a large amount at one go, Systematic investment plan will suit you the most.

SEAMLESS INVESTMENT EXPERIENCE

If you are thinking about investments this year, you should consider systematic investment plans. This is one of those mutual fund schemes that make your investment experience seamless. With this type of investment, you can focus on managing your investment rather than focusing on the ups and downs in the markets. You can easily decide when to buy more and when to buy less as per the increase and decrease in the price. The two major advantages of a systematic investment plan are the rupee cost averaging and the power of compounding. The power of compounding greatly impact your investments, especially if you make an investment for long-term. Keep investing more in SIP investments and manage your money by keeping track of the markets. Calculate and compare the returns from various mutual fund schemes to find out the best option for you.

KEY TAKEAWAY

Mutual Funds are subjected to market risks. Yet a lot of people are willing to take the risk and go ahead with their investments. The key to successful investment is to figure out your financial goals and plan your investment accordingly. SIP investments are indeed a great way to help you fulfil your financial goals. This is truly one of the best among all mutual fund schemes. To reap the benefits out of this scheme, you just have to stop analyzing and start investing.

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