XIRR - What is XIRR and how to calculate it?

Many of us invest in mutual funds or similar financial schemes in installments (e.g. using SIPs) and want to evaluate the performance of our investments. For example, we want to know our overall rate of return so as to compare it to with other possibilities. The standard mechanism in such cases is to calculate either IRR or XIRR.

IRR means 'Internal rate of return' and XIRR means 'Internal rate ...

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Know your Income tax jurisdiction (Ward/Circle)

While filling income tax return on IncomeTaxIndiaEfiling, one needs to fill 'Income Tax Ward/Circle'. It is also called 'your income tax jurisdiction'. Sometimes it is also required to meet or write a letter/email to income tax jurisdictional Assessing Officer (A.O.) - e.g., if you have received a notice on your past year income ...

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Sharekhan Demat and Trading Account closure

I had both the eTrading and demat account with Sharekhan and had closed both of them recently, so sharing the process here.

  1. Make sure that you have paid the annual maintenance charges / Demat account charges for the current year. Whether you have done any transactions or not, you have to pay the demat account charges.
    After ensuring the above, make your Sharekhan account balance zero.

  2. Go ...

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While withdrawing from other bank ATM, if you try to withdraw more money than available in your account, you will get a 'Insufficient balance: transaction declined' message on ATM. In such case, you will see a deduction in your bank account titled 'INSUF BAL ATM DECLINE CHARGE'. That is, they will charge you a fee ranging from Rs 10 to Rs 30 for this.

The exact charge is different depending on ...

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(CVL KRA) Update & Verify KYC Online for Mutual Funds

KYC (Know Your customer) is a mandatory process for investing in mutual funds or stocks in India. It entails two things:

  1. Proof of Identity: only PAN card copy accepted
  2. Proof of Address: any govt approved proof of address - e.g., aadhar card copy, driving license copy, voter id copy etc.

To make life easier for investors, now we can get KYC done only once through any broker, bank, mutual ...

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CAMS KRA - KYC Registration and Verification for Mutual funds and stocks

KYC (Know Your customer) is a mandatory process for investing in mutual funds or stocks in India.

CAMS KRA is a govt provided registry to keep track of this KYC registration status. CAMS KRA full form is "Computer Age Management Services (CAMS) KYC Registration Agency (KRA)". (Govt has allowed a handful of companies to maintain KYC registration status and CAMS KRA is one of them).

Check ...

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Inoperative EPF accounts will now earn interest - Notification issued on Nov. 11, 2016

Here is a good news! Now inoperative/inactive EPF accounts will also get interest. That means now you can keep your money parked in EPF and keep earning the interest even when you are no more working (as a salaried employee). In a notification issued on November 11, govt. has declared that interest (which currently is 8.8%) will be computed and paid from 1 April, 2016.

Inoperative PF accounts are...

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What is Benami Property?

Recently due to demonitisation of Rs 500 and Rs 1000 notes, other modes of black money circulation are also in news. Real estate (e.g., benami properties) along with gold & jewelery remains one of the most prominent investments through black money. So along with notes demonitisation, we should expect other rulings to track and control their spread.

In the context of real estate, most people are ...

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KYC full form and meaning in context of bank account opening

Any time you want to open a bank account in India, the first word you hear from bank is to submit KYC documents. What is KYC? what is its full form and meaning? and why it is required to open a bank account in India.

KYC full form is Know Your Customer. As per RBI (Reserve Bank of India) guidelines, KYC verification is a necessity for opening a bank account in India.

KYC (Know your customer) ...

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What is Region Code, Office Code and Est Code in PF number

Every PF Account number consist of 5 parts namely - Region code , Office Code, Establishment Code, Extension Number and the account number. Many times we get confused on which code to fill in which block. The fact that EPFO has changed the region codes and introduced new office codes makes things more complicated.

Here are some details to understand your PF number format better-

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