SCK's Finance Insights

This pandemic year has shown us how uncertain is life. There is one certainty that is death. I recently came across so many cases which has issues of funds/investments/bank accounts etc just because the nomination, will etc of a deceased where not in place. Today, you not only need proof of death but also that who actually is the true legal hire. if documents of deceased are not proper or don't mention successor or legal heir then it becomes huge problem to clear the legality on assets. On the other hand liabilities get transferred easy. So it is very important that everyone of us post death documentation prepared as soon as possible.  Even your spouse would need clear title on your assets, which is possible only once you have actually mentioned them as nominee or mention in a will or in a legally binding document that your spouse will be your successor. Especially when ancestral property is involved it becomes very important to clear title. Most of the assets are lying in property...

The CBDT is constantly explaining citizens why is it important to file income tax returns by conducting various drives. Yet there are citizens hesitant to file Income-Tax Return and are unaware of benefits they may procure from filing income tax returns. Most of the gen-z and millennial generation that is back bone of start up culture feel and majority of working population feel that if they fall under the tax lability / exemption bracket they need not file income tax return and can not avail the benefits associated with timely income tax return filing. So I have got 10 reasons that may make you put on your thinking caps and start thinking about filing income tax returns. Here me putting out the benefits you may have if you actually start filing your income tax returns. 1. Refund on TDS : TDS refers to tax deducted at source.  The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make p...

So this is an common problem faced my millennials and genz  youth despite of good earning poor management of fund to this sate of "bro I'm so broke" by the end of month. So lets dig into issues and solutions to over come this state. Issue 1 : Impulsive shopping This is the major reason for not being able to save more. You are buying something just because you like it while you look at. It's makes you sometimes go overboard your budget and you regret this later So solution to this is, add to cart and wait for 72 hours at least. It just took 5 minutes for you to like something and to decided to buy. So let it there be in your cart and see after 72 hours if you still are inclined to buy. If yes, then buy and say bye to your hard earned money over that cute product. Point is to create guilt of buying unnecessary stuff before buying rather than after buying stuff. Issue 2: Gosh! That's on Sale. So buying something coz its just on sal...

CryptoArt are rare digital artworks, sometimes described as digital trading cards or "rares", associated with unique and provably rare tokens that exist on the blockchain  The concept is based on the idea of digital scarcity, which allows you to buy, sell, and trade digital goods as if they were physical goods CryptoArtists may be classified in two main categories: tech-savvy artists and self-trained artists. In crypto art, there is an implicit contract that what you’re buying is unique. The artist makes only one of these tokens, and the one right you get when you buy crypto art is to say that you own that work. No one else can. Note, though, that this is not a legal right, nor is there any enforcement other than social mores. Nonetheless, the value comes from the artist creating scarcity. Its bought by bidding process. The winning bidder is now named in a digital record that confers ownership. This record, called a nonfungible token, ...

Thinking over taking e-commerce then read then you should probably know the following points 1. Don't rush in launching 2. Evaluate your niche 3. Evaluate your existing business model 4. Evaluate modifications required to cater your       Niche 5. Check soical environment that responds to        your business. 6. Develope website and go mobile. 7. Have a trial run and Follow insights 8. Test everything before launching 9. Ensure a proper delivery model 10. Go for inbound and outbound marketing 11. Note learning from marketing from           insights. 12. Keep researching on updates in your          industry and adapt them in your business          model.  13. Keep evolving and always make informed          decisions 

    List of schemes for STARTUP'S launched to develop and encourage entrepreneurship in India. The Government of India since 2016 has been launching various schemes and initiatives to promote, encourage & kick start the start-up culture in India. These are listed below ; 1. Startup India Seed Fund: On 16 January 2021, Prime Minister Narendra Modi announced the launch of the 'Startup India Seed Fund' — worth INR 1,000 crores — to help startups and support ideas from aspiring entrepreneurs. PM Modi said that the government is taking important measures to ensure that startups in India do not face any capital shortage.   seedfund.startupindia.gov.in/ 2. Startup India Initiative: The Prime Minister of India launched the Startup India Initiative in the year 2016. The idea is to increase wealth and employability by giving wings to entrepreneurial spirits. The government gives tax benefits to startups under this scheme and 798 applicants have made use of this scheme to date...