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Roven PereiraMCOM, ACMA, CIMA LONDONPune 13th January ‘18
PERSONAL FINANCE & TAX PLANNING FOR COST ACCOUNTANTS
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GOALS
• New Home• Holiday• Car• Childs Education• Home Loan repayment• Marriage corpus• Retirement & life post
retirement
INFLATION
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EMERGENCY FUND
TACKLING EMERGENCY• Having 3-6 Months of your Monthly Household
Spends in the Savings account• Maintain a Savings Plus account - SBI Savings Plus Account – Threshold 10K INR• Alternatively, Liquid Funds of MFs (through
APPS)
• Hospitalization• Family Emergency• Job Loss• Accident• Natural Calamity
MEANING OF EMERGENCY
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INSURANCE
- Never Mix Investments with Insurance - Insurance is a Protection Tool - Avoid Money Back, Endowment Policies, ULIP Policies with Higher Allocation Charges - Monthly Take Home Salary * 12 * 10 - Guard Your Health, Guard yourself - Asset Insurance
- Choose Term Insurance Policy / TROP - Health Insurance Policy BASE POLICY THROUGH BANKS TOP UP POLICY - Opt for CRITICAL ILLNESS COVER - Qualifies for Deduction under Section 80D - Protect your assets, protect your peace of mind
PRINCIPALS OF INSURANCE
TACKLING INSURANCE
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WEALTH CREATION
PRINCIPLES OF WEATH CREATION• 100 – Your age = Equity• Single : Minimum 50% of
Monthly Take home salary should be saved
• Married : Minimum 30 % of Monthly Take home salary should be saved
CREATING WEALTH• DIRECT EQUITY : Shares• MUTUAL FUNDS : Never have
more than 5 funds• Assign Goals to Each Mutual
Fund
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WHAT IS MUTUAL FUND
- A Mutual fund is a trust that pools savings of a number of Investors who share a common financial goal.
- The money thus collected which could be as small as Rs 500 pm, is then invested in different companies by the fund manager to generate returns
- It is a long term wealth creation tool and has always beaten assured return products handsomely
- It has been in India since 1964
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TYPES OF MUTUAL FUNDS
LARGE CAP FUND• Market capitalization /market
cap > Rs 200 Bn – 3500 Bn - ONGC - TATA - SBI - CIPLA - Maruthi - Asian Paints - Hero Motocorp
MID CAP FUNDS SMALL CAP FUNDS DEBT FUNDS• Market capitalization
/market cap between Rs 50 Bn –200 Bn
- Union Bank - UBL - TVS Motors - Ashok Leyland - Glenmark - Havells - MRF
• Market capitalization /market cap < 15 Bn
- Venkys - Jet Airways - VGUARD - Oriental Bank - CEAT - Bata - Voltas
• Invests in Government Securities,/Treasury Bills Corporate Fixed deposits, Bonds
• Yield of 7-10% with indexation benefit
• More tax efficient than fixed deposit. No TDS and 20% after indexation for > 3 yrs
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SYSTEMATIC INVESTMENT PLANNING (SIP)
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GENERATING INCOME FOR RETIRED
DIVIDEND INCOME - Dividend Income is Tax free as per Income Tax Law - Monthly Dividend and Quarterly Dividend Option available in Balanced Fund with Yield of 10%-12% Tax free returns - History of 13 years in certain funds in India with Dividend
SYSTEMATIC WITHDRAWAL PLAN• Invest in Growth Option• Withdraw a certain portion each
month from the Fund while the money grows using SWP
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YOUTH : TIME & POWER OF COMPOUNDING
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TAX SAVING
TAX SAVINGS INSTRUMENTSADDITIONAL 1.5 Lacs Tax Rebate Under 80 C- 5 YEAR FIXED DEPOSITS - PPF Yield Lock In 15 years- Equity Linked Saving Schemes Lock In 3
years Yield- Life Insurance - Sukanya Samridhi
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ESTATE PLANNING
• LEAVE AN INHERITANCE NOT A MESS• Will Must be dated• Signed by the Testator ( Person creating the will)• Signed in the presence of 2 witnesses• Express a desire that the testator wishes must be carried into effect after death• It may or may not be registered. Ideally a stamped / notarized agreement should
suffice• The executor is the person named in the will or appointed by the court with the legal
responsibility of executing the will
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THANK YOURoven Pereira ACMA, CIMA (London)