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Easy Yet Effective Ways To Save Tax

In order to save tax, we must all engage in tax-saving schemes such as National Pension System (NPS), Public Provident Fund (PPF), Savings Account Certificate (NSC), and so on. People are always looking for methods to save money on their taxes. Nobody wants to pass up opportunities to save money on taxes. Different folks choose different approaches. Sometimes they simply adhere to the procedures they are familiar with, and as a result, they lose out on more effective ways of saving on tax.

Aside from these, there are various more solutions that might assist us in minimising our tax bill without requiring any investment. As a result, if you don’t want to make any further investments, you can employ these tax-saving plans and solutions.

Consider taking home loans

Taking out a home loan is one of the finest methods to save money on taxes. It is one of the most prominent tax-saving plans that people opt for. It offers a number of deductions. Normally, one can subtract up to Rs 1.5 lakh from the principal repayment of a house loan under Section 80C and up to Rs 2 lakh from the interest payments under Section 24B.

The eligibility for the extra interest of Rs 1.5 lakh on the acquisition of a new house under the affordable housing plan under Section 80 EEA has been extended until March 31, 2022.

Medical Expense Deductions

Section 80D permits you to subtract premiums paid for health insurance coverage for yourself, your spouse, minor children, and dependent parents. You should obtain health insurance for everybody in the family, although if they don’t, you may claim reimbursements for preventative health check-ups up to Rs 5,000.

Children’s fee deduction is one of the tax-saving schemes

Expenses for our children’s schooling take a significant chunk of our money. As a result, maximising the tax benefits associated with these charges makes a lot of sense. Section 80C allows parents to claim a tax deduction of up to Rs 1.5 lakh for tuition fees paid for their children’s education. Please keep in mind that this benefit applies to every full-time education program provided by any licensed institution, including schools, universities, and even pre-schools and nurseries. This does not apply to tuition fees paid for up to two children per taxpayer.

NRE account interest payment

Non-resident Indians hold NRE accounts in India and earn interest in them. They receive interest on the accumulated funds as well as the funds invested as a fixed deposit. Because of the Indian government’s generosity to NRIs, such a sum is not taxed. The interest amount is referred to only as tax-free earnings.

These are some of the ways that you can implement for saving tax this upcoming year. These are the most prominent and reliable sources that people opt for.

Understand how the HSG test works

The HSG treatment is a blood test that determines whether a person’s immune system will respond to the protein in another person’s tissue. The HSG test is done to determine if the person needs any type of transplant or if there is a risk of rejection by their immune system. The tests are also done to determine whether a woman and her partner are genetically compatible for fertility treatment. It can be done for other reasons, such as when there is an increased risk of organ transplant rejection or an increased risk of pregnancy complications such as preeclampsia, miscarriage, or stillbirth.

HSG is a fertility test. It is done to assess the uterine cavity and the fallopian tubes for blockages or abnormalities. The HSG test procedure is done by injecting a dye into the uterus through the cervix and then X-raying it. The HSG test can be done in two ways, either with a catheter or without one. The catheter method is more common than the other because it’s not invasive, and you can take an X-ray of your uterus straight away. HSG test is a diagnostic procedure that helps in the diagnosis of female infertility. That is done by examining the fallopian tubes for blockages or other abnormalities. This test is performed by inserting a catheter through the vagina, up into the uterus, and one of the fallopian tubes. The fluid from the catheter then flows back to confirm if there are any blockages in that tube. Always consult expert IVF doctor in Hyderabad, Mumbai, Delhi, etc., to get the most trusted services.

HSG test cost in India ranges from Rs 3000-5000 for each test, depending on your location and doctor’s fee. The HSG system is composed of two classes of proteins: the HSG Class I and Class II proteins. The HSG Class I protein is a protein that is found on the cell surface and helps to recognize foreign invaders. HSG testing is done to find out if a person has a genetic predisposition for certain diseases or disorders. It can also be used to determine compatibility with organ transplantation.

Also, Read – Is sedation necessary for HSG test?

So, now let’s take a look at the HSG test procedure to give you a better understanding of this test:

1) A catheter is inserted into the uterus through the cervix

2) X-ray pictures are taken from different angles

3) A dye solution is injected into the uterus, which will show up on x-ray pictures

4) HSG test is a fertility test that is done to find out the chances of a woman getting pregnant. It is an invasive procedure, and it needs to be done by a qualified doctor.

5)The HSG test procedure also includes injecting dye into the uterus through the vagina, uterus, and fallopian tubes.

Conclusion

That was everything that you needed to know about the HSG test. With the knowledge shared by us in this post, you can stay prepared for this test even before it starts.

Also, Read – Infertility & Vaginal Infection

Which Fruits Must Never Be a Part of Your Pregnancy Diet?

One of the greatest gifts to women is their power to reproduce. And while it can be an extremely joyful experience to become a mother, there are many things to keep in mind for a healthy pregnancy. One of the most important aspects of ensuring a healthy baby is eating the rights foods. Fruits and vegetables provide nutrition for the fetus to grow and develop. Following a nutrition-rich diet is crucial for both the baby and the mother. But did you know that there also are some fruits avoid during pregnancy?

Also, Read – 1st month Pregnancy Diet Chart

Take a look at some such fruits to steer clear of during your pregnancy.

1. Grapes

Despite being one of the most nutritious foods, must be avoided grapes during pregnancy. The skin of the grape, especially the black variety, contains resveratrol, which is a compound that can sometimes be poisonous or toxic. Moreover, when a mother is expecting, their digestive systems might be weaker than usual. This can make digesting black grapes more difficult.

2. Peaches

Peaches are considered to be “hot” fruits, which means that this fruit induces heat in the body if consumed excessively. Excess body heat can have adverse impacts for the mother-to-be, including internal bleeding and even a miscarriage, in the worst case. If you do wish to eat peaches, have them in moderation and without the peel. The peel of this fruit has tiny follicles on the skin, which can cause irritation in the throat, thus, making it an unsuitable fruit for moms-to-be.

3. Bananas

Although eating bananas during pregnancies is considered safe, in some cases, avoiding them is a better idea. Women who have allergies, diabetes or gestational diabetes are advised against eating bananas. Bananas contain chitinase, which is an allergen and is latex-like. It is also known to increase body heat. So, put this fruit in the list of ones to avoid during pregnancy, if you have any existing medical condition. It is best to consult your Ob/Gyn regarding which fruits are safe for you.

4. Dates

Despite being rich in nutrients, pregnant women are advised against it because dates are again known to heat up the body. In the worst-case scenario, high body heat can lead to uterine contractions, which in turn could lead to a miscarriage or premature birth. While eating in moderation is okay, anything above two dates a day could lead to complications in the pregnancy.

5. Frozen Berries

Just like grapes, anything frozen for an extended period should be avoided during pregnancy. Long-term freezing can lead to toxins developing in the fruit, which might not be beneficial for either you or your baby. The nutrients and flavour of the berries are lost when they are frozen or canned. Choose fresh berries instead.

Also, Read – Difference Between PCOD vs PCOS

But remember that there are many fruits that are recommended during pregnancy, such as oranges, apples, lemon, and mangoes. Also, you might have very specific cravings at this time. Just remember to eat in moderation so that there is minimal risk of complications.

Also, Read – BABY IMMUNIZATION SCHEDULE

How Does PMAY Make Home Purchase Easy?

The Pardan Mantri Avash Yojna was launched in 2015 and was aimed at providing affordable housing for everyone by 2022. Under the PMAY Scheme, The Ministry of Housing and Urban Poverty Alleviation has extended a subsidy known as Credit Linked Subsidy or CLSS for the construction of new homes and for refurbishment or extension of existing homes for the economically weaker sections, lower-income groups, and middle-income groups.

When Should One Apply for the PMAY Scheme?

The Pardan Mantri Avash Yojna has been rolled out in three phases, the first two of which have ended. The last phase, which began on the 1st of April 2019, will end on the 31st of March, 2022. The PMAY last date for EWS and LIG and MIG category I and II is the 31st of March. EWS and LIG schemes were launched on the 17th of June, 2015 and the MIG schemes came into effect from 31st of March 2020.

If you wish to apply in any of these categories, there are only a handful of days remaining to the PMAY last date. You need to do it without any further delay!

Also, Read – How To Avoid EMI Defaults

Defining the Income Groups for Eligibility

Income of lower than ₹3 lakhs pa (per annum) qualifies as EWS. Income of up to ₹6 lakhs pa falls under LIG category. MIG I is up to ₹12 lakh and MIG II is up to ₹18 lakh pa.

How Can This Scheme help you Buy a Home?

The biggest benefit of this housing scheme is of course the subsidy offered, which is up to 6.5% on a housing loan for a tenure of up to 20 years. The subsidy rate varies according to income slabs as follows:
- If your annual income is ₹6 lakh pa, you are eligible for a subsidy of 6.5% on a loan amount of a maximum ₹6 lakhs.
- If the income is between ₹6 lakhs to ₹12 lakhs pa, the subsidy availed will be 4% on a maximum loan amount of ₹9 lakhs for 20 years.
- For an income of ₹18 lakhs pa, the subsidy is 3% on a loan amount of 12 lakh for 20 years.
Preferences are awarded to senior citizens and those who are differently-abled, in terms of house allotment. For instance, a ground-floor apartment will be allotted on a preferential basis to someone with mobility issues. Special preferences are also in store for scheduled castes and scheduled tribes. Transgender and widows have also been included in the preferential category.
Houses are constructed using eco-friendly and environmentally sustainable technologies.
These subsidized loans can be availed for purchasing flats in an apartment building, constructing homes on land, and even converting “kachcha” houses to “pucca” ones.

Private Housing Finance Companies have Followed Suit

If you happen to miss the chance of applying for the PM Avas Yojana within the PMAY the last date for LIG or MIG groups, there are housing finance companies offering home loan with rebates on similar lines. The subsidies are inspired by the PM Yojna and aim at providing affordable housing for all. You can always get in touch with them.

Also, Read – Impact of EMI Defaults on CIBIL Score

Differences Between Child Education Plans and Child Insurance Plans

Child insurance and investment plans are designed to secure your child’s future. This is especially needed in the unfortunate event of a parent’s death. Well-structured policies ensure the children do not have to compromise on their educational needs and lifestyle. But both plans differ from each other in certain aspects. It is vital to have a clear idea of the features and benefits of each one for an informed choice. For example, a child education plan offers adequate financial backup to make sure your child’s career goals are fulfilled. It offers guaranteed smart benefits with the convenience to pay one-time or limited premiums. Below is a detailed guide on how each one has unique differences.

Child Insurance Plan

Child life insurance plans ensure the child is financially covered in the absence of parents. It helps them make a fresh start without having to kill their dreams. The amount at maturity can be used for multiple purposes like a wedding or paying for higher studies. The insurance company also sends eligible bonuses, if any. In simple terms, it can be used for any child related expense. So, you are indirectly fulfilling your responsibilities towards your children without hiccups.

Child Education Plan

Nothing can truly compensate for the loss of parents. Yet a child education plan can make sure their studies continue uninterruptedly. This is also quite helpful if the parent has lost their job for multiple reasons like lay-offs or physical disability. This child insurance plan is solely designed to cover the growing educational needs. This is made clear in the policy documents. It is not meant to pay for other expenses except the ones related to different stages of a student’s life. The best child investment plans are usually individual, non-linked and participating products that can be activated as soon as your child turns 18.

A few key benefits of the child education policy will include:

Triple protection in the form of lump-sum pay out.
Tax benefits as per the Income Tax Laws
Life and Accidental Total Permanent Disability coverage.
Immediate payment of sum assured and premium waiver in case of an eventuality
Smart benefits in four equal instalments.
Premium waiver of the best child insurance plan in case of an eventuality

You can also get regular loyalty additions for in-force child policy on completion of certain durations. Look for a child insurance policy that offers partial withdrawals from the 6^th policy year. You have the flexibility to invest in funds of your choice and can make partial withdrawals to meet unexpected expenses as well. The annual premium range of the best child plans usually starts from as low as ₹6,000 which makes it quite affordable. In short, it is an all-encompassing financial solution for securing a child’s future.

Before applying for the plans, read the product brochure and documents carefully. Use a child education calculator and pick the one that suits your financial capability to be able to clear the premiums on time. All of this can help assure an excellent investment experience.

Investing in ELSS Mutual Funds: Here’s What You Should Know

ELSS mutual funds or Equity Linked Savings Schemes are the most popular category of Equity funds in India. These schemes predominantly invest in equities and equity-related instruments. Investment in these schemes comes with a lock-in period of three years besides being eligible for tax benefits under Section 80C. These schemes aim to balance the risk involved in equity investments by putting in some portion of their funds in debt-related instruments. Before finding out details of how to invest in ELSS you need to know the main features of these mutual funds.

Diversified Portfolio

ELSS funds invest at least 65% of their funds in equity while putting the remaining in debt or fixed-income securities. This diversification of the portfolio allows the asset management company to balance the risks associated with equity investments.

Tax Benefits

Investment in ELSS funds is eligible for tax benefits under Section 80C of The Income Tax Act. So, when you invest in an ELSS scheme you can claim Rs 1,50,000 per annum as a deduction from your total taxable income. Another benefit related to ELSS investments is that if you make long-term capital gains of up to Rs 1,00,000, no tax is levied on it. However, if the long-term capital gains from equity investments exceed Rs 100,000, a tax of 10% is levied on the excess amount.

Lock-In Period of Three Years

A feature of ELSS funds that makes it more attractive than other tax-saving investment options is the shorter lock-in period. While investments in tax-saving fixed deposits and National Savings Certificate come with a lock-in period of five years, public provident funds have a lock-in period of 15 years. In contrast, ELSS has a lock-in period of only three years.

Professionally Managed

These schemes are managed by professionals who are well versed with in working of the stock and the debt markets. Each investment is carried out after thorough research and inline with the scheme’s objective. This feature makes these mutual funds highly suitable for novice investors or people who do not have the time to carry out research.

Option to Invest Lump Sum Amount or Through SIP

You have the option to invest in an ELSS scheme in two ways:

A lump sum amount if you have spare funds and you wish to invest them immediately.
Via the Systematic Investment Plan or the SIP route wherein you can deposit a fixed amount regularly for a specific period. This offline and online SIP investment option allows you to begin investing with a very small amount (as low as Rs 500 or Rs 1000 depending on the scheme selected by you). This option is highly suitable for you if you are aiming for disciplined investing.

Growth and Dividend Plans

You have the option to choose between the growth and dividend plans of an ELSS mutual fund. In the dividend option you can choose to receive regular dividends accrued from your investment while if you choose the growth option, the returns generated from your initial investement are reinvested. The growth plans allow you to reap the benefits of compounding.

These features of ELSS make it an excellent option for investors who wish to pursue long-term wealth creation while reducing their tax burden at the same time.

How to Invest in ELSS?

The answer to how to invest in an ELSS is that you can do so through the online as well as the offline modes. Online investments can be done by visiting the asset management company’s website or through mutual fund distributors.

Tips to stay positive during IVF rounds

Getting an IVF treatment from an IVF centre can be very anxious. You need to go through medication, procedures, and emotions. Amid all this, it can be very difficult to stay calm and positive throughout the cycle. However, stress can negatively impact the outcome of your fertility treatment. So, staying positive and calm during IVF procedures is a must.

You can do many things to remain calm during the IVF cycle. You should know that no two women are similar, and things can work differently for each woman. Here are a few things that you can try to remain positive during IVF rounds:

Give space – It can be very difficult for you to complete your day-to-day routine work while wondering if your IVF cycle will work or not. You may find it frustrating when people around you are moving forward while struggling to get pregnant. In such a case, give yourself some time and space to deal with the emotional side of the IVF.
Meditate – Meditation is an ancient way to calm your mind and body, and you can do it anytime and anywhere. You just need to sit in a quiet space, close your eyes and focus on breathing. Acknowledge the thoughts when you are in the process and keep your focus on the breaths. Keeping your mind and body calm can make your IVF outcome positive.
Take very good care of yourself – Do what you like, whether it is a visit to a hair salon or a spa. Sometimes, these personal treats can give you the time to relax mentally and physically.
Communicate – Don’t fight your battles alone when you have a good partner you can talk to. It is good to talk to your close ones and the treatment team when you are worried. They can support you and make you feel comfortable with the process. Your treatment team can provide you with all the needed information about your treatment plan.

Sometimes you may get negative results which can disappoint you. Here are some tips for coping with the negative results:

Don’t overthink about ‘what did I do or miss?’ Such questions do not help with the negative outcome of IVF, and these questions will only make you sad.
If necessary, cry as suppressing emotions affect your mental peace.
Relaxation exercises like yoga and mindfulness are beneficial in reducing anxiety and negativity while increasing a positive attitude to start afresh.
IVF treatment cost is high, and a failed IVF means emotional and monetary loss. If you feel that negative result has caused you great stress, take psychological help.

Sometimes picking the substandard IVF centre may result in negative results, so you must select the best IVF centre in India. Fertility clinic in Bangalore have an experienced IVF team, and they can help you answer all your queries when you are confused or feeling low.

Things that an asset management software can do

Modern business operations have become increasingly technology-driven. The global markets have become smaller with real-time trade and connectivity across cities, countries and continents. In such a scenario, the good old legacy technology and manual processes that helped businesses survive until now, are no longer capable of sustaining growth in the years ahead. There is an environmental concern and a pandemic experience that has made all businesses, big or small, focus on efficient management of lean and dynamic processes. What is needed today is advanced asset management software that can take care of even the asset-intensive businesses with greater ease. That’s where top of the line cloud-based solutions come integrated with robotics, Internet of Things (IoT), big data and deep learning. These abilities help the software to manage Predictive Maintenance which enhances the efficiency of the assets.

In today’s rapidly changing business landscape different industries can carry out various types of operations by deploying world-class cloud asset management software. These include:

Power generation – The software monitors and helps in streamlining power generation assets efficiently and sustainably

Equipment rental – An equipment rental company can keep a track of all its assets varying from a small generator to a huge crane seamlessly through the enterprise asset management system

Manufacturing – Machine breakdowns are highly damaging for manufacturing business, and that’s where the seamless visibility of all assets and the power of predictive maintenance keeps things going smoothly and efficiently

Infrastructure – Enterprise asset management is not just for machines or materials, but also for infrastructure businesses, shopping malls or large commercial complex. It will help streamline and maintain all assets with ease

To get the best outcome, it is important to take a look at the global experience of the solution provider. They must have more than adequate experience of providing as well as managing a diversity of critical assets ranging from power plants to aircrafts, machines in a production facility to buildings and housing complexes. The right software would be able to manage an urban transportation fleet with the same ease that it will manage a crane at a shipping yard. Usage of such technology yields various benefits such as:

Better maintenance management courtesy of the integrated data analytics and predictive maintenance processes
Mitigation of equipment risks by monitoring and adherence of superior safety standards
Increased regulatory compliances through continuous compliance tracking and utilization of asset tracking tools to keep all assets audit-ready
Better asset performance through streamlining of operations and greater return on investment

Usage of a digital asset management software would take care of end-to-end lifecycle of all the assets including the following stages:

Planning – It provides single window control of the entire asset acquisition, planning, budgeting and approval stages.

Acquisition – Starting from the capital purchase of an asset to commissioning new assets, managing supplier contracts and payments, the entire process of acquisition gets simplified and seamless.

Asset deployment – From installing to commissioning an asset or maintaining the fixed asset register or inducting new equipment, the whole deployment process is streamlined.

Maintenance – The software-driven EAM would have scheduled maintenance programs and work management in place alongside the much-needed failure analysis and RCA, leading to greater management of assets with efficiency.

Retirement – The software would reconcile data starting from the asset retirement proposal to asset scaling up or scrap, to optimize the retirement phase of assets

To say it succinctly, a world-class EAM software company can help industries transform their operational efficiency and achieve faster growth at lower costs over the long run!

A General Overview on Fertilization

Fertilization is the union of the male sperm and the female egg, which takes place in a region of the fallopian tube called ampulla. Once the egg is fertilized successfully, the prenatal development of the zygote cell is initialized. The normal process of fertilization in humans requires the sperms to be ejaculated inside the vaginal cavity of the female.

Interestingly, millions of sperms are released through a single ejaculation of which only close to two hundred are able to travel the distance to meet the egg cell within the fallopian tube. In the end, it is only one spermatozoon that wins the battle of fertilizing the egg.

Also, Read – PCOD vs PCOS

Here’s a brief overview of the fertilization process to understand why this happens.

Steps Involved in the Natural Fertilization Process

Breaking into the Egg: The first challenge for the sperm is to penetrate the outermost layer of the egg called the corona radiata. This is relatively simple for the spermatozoa owing to the release of an enzyme called hyaluronidase coupled with the movement of the sperm tail or the flagellum. The bigger challenge is to break the second wall or the Zona Pellucida. More than one sperm is required to weaken this barrier. The head of the spermatozoa establishes contacts with receptors, triggering a reaction called the acrosome reaction which incorporates releasing hydrolytic enzymes. These enzymes allow passage into the egg cells by dissolving the Zona Pellucida. Owing to the complexity of the process, only one sperm makes it in the end.

How the Egg Reacts: Changes take place within the egg cell as well in order to support fertilization. First, a fertilization cone is formed which supports the fusion of the sperm and egg membranes. Instant depolarization of the membrane of the egg occurs along with the release of some cortical granules. Both these processes prevent the entrance of multiple sperms into the egg cell.

The Establishing of the Chromosomes: As the sperm continues the fertilization process, its head containing the nucleus travels to the female pronucleus. At this time, the sperm loses its tail and its nucleus swells to give rise to the male pronucleus. Once both the pronuclei are close to each other, fusion occurs and membranes of the nuclei fuse into each other. This process also establishes the set of 46 chromosomes.

Zygote Formation: The fertilization process results in the formation of the zygote, which is the very first cell of the organism post fusion. In the male zygote, the sex chromosomes are XY. In the female zygote, it’s XX. The egg cell already contains the X chromone, therefore the sex of the child is determined by the male sperm which can contain either X or Y chromosome.

Once the process of fertilization is complete, the embryo continues its journey inside the tube. Cell division continues till it turns into a multicellular structure called the blastocyst. This blastocyst successfully attaches itself to the uterine wall, causing pregnancy.

Once pregnancy has been confirmed, it’s time to refer to a great birthing facility with specialized gynecologists on board. As your pregnancy progresses you may also wish to find out about the best pediatrician in Hyderabad for future requirements.

Also, Read – Fruits Avoid During Pregnancy

What is Compound Calculator, and How Does it Work?

Mutual funds have become the preferred way for millions of people to invest in the markets. After learning how to start SIP, many investors are opting for the SIP option. Investors can also use a power of compound calculator to evaluate the impact on their investments over time.

As we all know, mutual funds are long-term financial instruments that can help you accumulate wealth over time. You can use the power of the compound calculator to calculate the required monthly SIP amount and tenure for the desired returns. This article will try to answer your questions about the compound calculator and how it works, so keep reading.

What Is a Compound Interest Calculator?

In layman’s terms, compound interest means the interest on interest. In other words, the amount of interest imposed on the principal amount and the amount of interest gained on the amount. This allows you to maximize your investments enormously over time.

The power of the compound calculator is a simulated device that is available online to assist you in calculating the estimated corpus for your investments. As a result, a compound interest calculator is highly beneficial for ordinary investors. With the calculator, you can perform complex mathematical calculations correctly and automatically.

How Does a Compound calculator Work?

The power of the compound calculator comprises of a formula box. Here, you enter the required data and get the estimated maturity amount.

the compounding frequency
principal amount
rate of interest, and
the duration

Finally, the power of the compound calculator reveals the maturity amount you may earn after the tenure. Therefore, a SIP calculator working on the compound interest formula is also beneficial in determining the expected returns on your systematic investments.

How Can a Compound Calculator Help You?

The calculator is a dependable and easy-to-use tool. It assists you in obtaining correct numbers automatically and within seconds by just entering the necessary information. Therefore, it is advisable that before buying mutual funds online, investors can use the online calculator and compare different plans.

The following are some of the advantages of using the power of a compound calculator.

The calculator assists you in setting and achieving financial objectives. For example, you can determine the amount of money required to be invested and the tenure to get the desired corpus.
You can use the calculator to test multiple scenarios. For example, you can check and compare the expected returns by changing the interest rates, investment period, and investment amount.
The calculator also assists in calculating yearly and total returns in case you want to withdraw funds prematurely based on your financial needs. This way, you can comprehend the difference between the two sums presented and make an informed investing decision.
A calculator is a safe tool where the data is secured.

Most investors today participate in markets through SIP. The benefit of investing in a staggered way for the long term is enormous due to the power of compounding. This helps develop a sizable corpus and meet all their financial goals without worrying about market volatility.