Life after retirement has become very difficult, especially because of the economic dependence of their family members. Older people often feel embarrassed to ask for assistance monetary malaise of the young generation. The reverse mortgage program is the perfect solution to this problem. This is a government insurance scheme, under the ownership of his / her, 62 years of homeowners to borrow money to help financial institutions or small number. This makes the RM borrower is financially independent, without having to pay the mortgage. In fact, borrowers willing to pay the lump sum, line of credit or in monthly installments of the sum of the amount. (more…)
Month of July is the month to file Income Tax Return and every individuals must have received their Form 16 (Salary Certificate) and Form 16A (Tds certificates) of other Income. So, waiting for the last date to file Income tax return is not the smart way. File Income tax return earlier and get it processed faster.
We at Taxmantra.com always advise to file income tax return as early as possible to avoid incorrect filing of Income tax return instead of waiting for the due date to arrive. Here, we describe few key points relating to filing of Income Tax Return:
Legal Obligation to file Income tax return
Every individual whose taxable income during the year has exceeded the basic exemption limit is compulsorily required to file income tax return.
Collate the documents
Before filing Income Tax return, collate all income tax related documents like Form 16, Bank statements, Form 16A / TDS certificate; tax payment challan, Proof of Investments and Home Loan certificate.
Due date for filing Income Tax Return
Individuals who are not required to get their books of accounts audited – 31st July of the assessment year (Like for FY 2011-12 due date would be 31st July 2012).
Individuals who are required to get their books of accounts audited – 30th September of the assessment year (Like for FY 2011-12 due date would be 30th September 2012).
Consequences of Delay in Filing
Taxpayers filing income tax return after the due date should be aware of the consequences owing to delay in filing like interest u/s 234A is chargeable, business loss (Speculation or otherwise), capital loss (short term or long term) and loss due to owning and maintaining of race horses cannot be carry forwarded and even you discover any error on belated return filed, return cannot be revised.
Mode of Filing – Manual or Online
Income tax return can be filed online as well as manually. And in online mode, assesses have two option of filing, to file with digital signature or without digital signature.
Assessee should always prefer for online filing as it ensures faster processing of ITR and quick processing of refunds, if any.
Now the Income Tax Department does not accept any additional documents along with the return of income but, it doesn’t mean that no proofs are required for any investment and expenses as the Income Tax Officer may ask for the documents at the later stage to check the correctness of the claim made. Hence, it is always advised to preserve all the documents required to substantiate the online tax returns.
All human beingsrequiremoney to earn their livelihood in this expensive world.Though,openingof IT companies in India, haveincreasedthe earning power of an individual;then also the rising inflation,has almostequalizedthe increased power of the personby increasing the prices of things at the same time.Therefore, a middle person in India, cannot survive in this scenario, withownsavings orincome, thepersonrequirescreditat some or otherpointof time. Somepersonrequires funds to meet their day to day expenses. In this scenario, the person cantakehelpof personal loan, i.e. one can use thisfinancefor any of theirpersonalrequirements. The person can use thisfundfor any purpose, such as for paying utility bills, to pay off debts, for higher education, for medical emergency, for purchase of car, for purchase of consumer durable goods, for renovation ofthe houseand many more.
The person canavailthepersonalloan through financial institutions or banks. The personal finance is an unsecured loan;therefore,banks or financial institutionsprovidethisloanonly onthe customer’sprofile, i.e. on customer creditability, income, repayingabilityand financialposition. This is because; risk of lending is high, asthe bankhas no security; from which they canrecovertheir loan amount; in case the person default in repayment of the personal loan.That iswhy banks charge high interest rate as compare to other loans, i.e. 14-25%. The bank provides thisloanfor theperiodof 12-60 months, andan applicant canavailamountup to Rs.15lacs.
The bank checks the customer’sprofilethrough the documents thatare submittedby the customer with the application form. The documents thatare submittedby the customer are; residential proof, income proof, age proof, identity proof bankstatementandemploymentdetails. The lenders requireminimalnumberdocuments for personal finance, as it is an unsecured loan, due to which the processing of the personal loan is fast. The person canavailthepersonalloan in 2or3 days after the customer submits all the documents, if there is nodiscrepancyin thecustomer’sloanfile.
The main benefitof the personal financeisthat, thecustomer does not have togiveclarification to the bank why the customer is availing personal loan andthe personcan use these funds for any purpose.
Though, it is advisable to the consumer that one shouldgofora personal loanasalast resort, as itattracts high interest rate.
In love, age does not matter and neither is it an issue in career opportunities. So why should it be in the area of long term care? Research on long term care while you’re young and healthy and working because if you wait till later, you’ll regret it for the rest of your life.
The population demanding for long term care (LTC) is fast increasing so the cost of this service continues to accelerate, too. It is necessary to have a clear-cut plan for your future health care needs otherwise you will wind up spending hundreds of thousands of dollars every year.
The elderly and disabled people who are currently receiving in-home care are spending over $43,000 annually for a home health aide to assist them with their activities of daily living (ADL) such as bathing, eating, dressing, toileting, transferring, and continence. Residents of assisted living pay a monthly rate of $3,300 which is tantamount to an annual LTC expense of $39,600. Meanwhile, those receiving care in nursing homes are struggling to fork out $222 daily which translates to an annual spending of $81,030.
Some people pay their LTC expenses out-of-pocket, a small fraction of LTC recipients are covered by their private insurance but majority of them are dependent on Medicaid. The latter’s total spending on the country’s LTC expenditures has gone up to billions of dollars already as the number of its middle-class clients continues to increase.
Had the government not restructured Medicaid’s eligibility process for nursing home care, the program’s funds would’ve dried up in no time. These days, Medicaid beneficiaries are receiving care either in their own homes or in a community-based LTC facility as the government aims to cut down the said program’s nursing home funding.
How would you like to receive mediocre LTC due to a restricted budget?
Research on Long Term Care
According to health care experts, the average length of stay in a nursing home is three years but chronically ill individuals could stay longer, perhaps 10 or 20 years.
If you think about it, it’s not going to be easy for anybody to predict how much care he’ll need in the future. However, LTC specialists say estimating your health care requirements is possible with the help of a licensed physician, preferably one whom you would normally go to as a child and who has kept track of your health records. But if you do not have anyone like this in your life any doctor with an impressive background will do.
It’s best to have your present health condition and family’s health history assessed early so that you’ll know what you are at risk of acquiring in the future.
Once you have identified your LTC needs, you also have to determine where you intend to receive care someday because the cost of your LTC will also be dependent on your preferred setting.
Among your choices are in-home care, assisted living facility, continuing-care retirement community, adult day health care center, and nursing home among many others. To get a complete list you can contact the Area Agency on Aging in your place or consult an elder care specialist.
Nobody stays young and healthy forever so before your body becomes frail or develops a condition that will hinder you from living independently, research on long term care.
Regular carpet and upholstery cleaning do not have the power necessary to remove deeply imbedded soil, dust, spots, and pet odors, and they may lack proper water extraction. The following article discusses the importance of professional cleaning.
Many homeowners make the mistake of assuming their carpet and upholstery are clean just because they look clean. What they may not know is that, over time, even the most spotless looking carpets and upholstery collect germs, dust and soil below the surface, invisible to human eyes. To increase the useful life of your carpets & upholstery, most carpet manufacturers recommend carpet owners to have them cleaned every after 12 months. The cleaning time varies according to the location and usage of carpet.
The cleaning method use by esteemed property restoration companies like Above All Emergency Services goes beyond the standard hot water extraction method. Using powerful truck-mounted equipment, Carpet Some homeowners may choose to clean their own carpets and upholstery with either a heavy-duty vacuum cleaner, home steam carpet cleaners or other portable carpet cleaning units. These options, however, may not have the power necessary to remove deeply imbedded soil, dust, spots, and pet odors, and they may lack proper water extraction. Furthermore, portable units that use water may not achieve the temperature needed to properly succeed in carpet and upholstery cleaning. The best alternative is to hire a professional carpet cleaning company with an accomplished team of professional carpet cleaners that uses truck-mounted equipment and hot water extraction to remove the deep down dirt.
And Upholstery Care specialist first applies a special heated carpet cleaning solution to break up soil and loosen oil deposits in your carpet’s pile. Then, a deep-cleaning fiber rinse washes soil and the carpet cleaning solution from your carpet with a powerful vacuum. Your carpets are left clean, soft and free of residue that can attract dirt in the future.
How it works
- When carpet cleaning technicians arrive at your home, they start with a pre-inspection to identify problem areas. Then they start Deep Clean to make your carpet cleaner. A special heated carpet cleaning solution is sprayed deep into the carpet fibers to loosen embedded dirt.
- Carpet Cleaner is followed by a high-powered extraction and balancing fiber rinse to remove the dirt and cleaning solution, leaving your carpet as clean as it can be.
- Post Inspection is started after carpet and upholstery cleaning is finished, the crew review the entire job with you to make sure everything is done to your satisfaction.
The Importance of Protectors
Carpet manufacturers apply protectors at the factory to help your carpets stay cleaner longer. But, with foot traffic and vacuuming, this protection wears off over time. Having the protector reapplied helps slow down the formation of traffic patterns by allowing you to get more dirt out of your carpet with your vacuum cleaner. Moreover, it gives you extra time to clean up spills before they turn into stains.
Most new upholstered furniture comes treated with protector. But this protection wears off over time. Having the protector reapplied helps preserve the color, beauty and life of your upholstery. Professional technicians are specially trained in the care of all fabric types, even the most delicate, so you can feel comfortable in knowing they will choose the proper upholstery cleaning solution for your furniture. And using specially designed tools to gently clean folds and crevices, they’ll ensure the entire piece is entirely clean.
Importance of Upholstery cleaning
Your furniture is as important to a room’s appearance as your carpet. That is why professionals use the same process for upholstery cleaning that is done for carpet cleaning. For upholstery cleaning two-step cleaning system is used that includes a specially formulated balancing fiber rinse that removes cleaning solution residue right along with deep-down dirt, leaving nothing behind but clean, fresh-smelling fabric and furniture.
Professionals do know that a clean carpet is a great complement to your clean furniture. The two-step carpet and upholstery cleaning process is the same as upholstery cleaning process, so all that is left behind is cleaner, more beautiful carpet. When professional carpet cleaning technicians arrive, they start with a pre-inspection to identify any problem areas so that they can leave you with the cleanest upholstery possible. Once your furniture is cleaned, it is recommended to use protector application, keeping your carpets and upholstery clean and protected.
World has gradually become credit oriented. In developed nations, it is inbuilt in their economic system. The industries are encouraging this credit system to ensure growth and prosperity. The economic policies have been formulated in such a fashion that people are consuming more and on credit by availing loans or by using credit cards. You can get everything on credit. However, there is an exception to that in case of short term loans. In order to bridge the credit gap, collateral loans have been put on practice. The collateral loans are extremely popular, user friendly and apt to the present day situation.
Cars cannot be generalized as a symbol of luxury. Nowadays, the car companies are into manufacturing different cars catering to the needs of the different segments of the people in the society. The car that you possess can be of great help in case of financial crisis. The financial agencies have come up with a unique plan, to help the people with liquid cash against the car they possess. During the collateral loan process, the cars are used to get short term loans. To address the immediate financial needs or for to use the money for personal purposes, people with credit repayment capabilities avail such loans. Loan and repayment form a cycle that suits them the best.
In collateral loan process, your cars are considered as the dealing medium. You can get small to medium range of loan by temporarily trading your cars. The amount borrowed has to be returned within the loan repayment period. The actual condition of a car on the day of deal, determines the amount of loan you are entitled for. Year of make, engine condition etc are usually the factors that determine the sale value of your cars. There is a standard mechanism that is followed for the valuation of the used cars. As an applicant, the borrower needs to be acquainted with it. If you know the methods, you can easily asses the valuation of your cars. Once the valuation of the car has been done without any dispute, the other processes are extremely simple and easy to abide by. The basic condition is that, the car you want to use as collateral must be in your name. You are eligible for loan against each car you hold the ownership. The collateral loans are even possible to obtain if your cars are purchased on loan and they are still on repayment mode. In such cases, amount of loan is determined on the paid up portion of your capital.
In collateral loans no conditions are applied as to how you are going to spend the money that you have borrowed. People generally keep such loan option open and avail them as per the need. Looking at the urgency of situations, the entire deal is completed within few hours. The collateral loans are easy to avail and useful. You also have the right to use your car during the repayment period. Collateral loans, in all possibilities, give you suitable opportunities to avail for your own interest.