Driving Financial Content!

New Initiatives by Fintuned to promote high quality financial content on a consistent basis.

As you would have realized, we at Fintuned have consciously determined to become a leading domestic platform for aggregation and consumption of financial content. In keeping with that, we have embarked on two wonderful initiatives that will only help us drive quality content on a consistent basis. So, allow us a chance to take you through these initiatives quickly:

  1. Involving Guest Contributors and driving diverse financial content: In alignment with our vision to promote great financial content, we are on-boarding guest contributors who love writing and sharing their thoughts. Currently, all the good folks (read: family and friends) are doing this on a voluntary basis and for now, we are going to keep it that way. So, if you are interested in associating with us as well, just drop in a line.
  2. Submit your story: Stories are enriching, enchanting and take you through a tour where you discover a lot many things. Inspired by the incredible work done by our friends at TheBetterIndiawe wish to share positive financial stories from people across the country (keeping the confidentiality in our head) and make sure that the same reaches out to people in a better way. Have a great story to tell? Just drop in a line to fintuned.net@gmail.com

Let us know if you have any suggestions on these initiatives and we will be all ears! In the meanwhile, please show your support on our Facebook Page.



We Are Back (Again)!

The last time around we took a break from continuing with interesting, interactive and informative content, it was a long one! And this time, we did the same thing. So, even if we might not be the trend-setters for now, we are definitely trend followers 😉

Jokes apart, it would be completely unfair on our part to not explain the re-occurrence of this prolonged break and before we announce the big comeback with all the pomp and show, let us briefly go over the rationale behind this intermittent presence.

You would appreciate the fact that this portal is run by people who work actively with some enterprise and owing to that, Fintuned often slips to number two (or even further down) on their priority list. This is coupled with the lack of bandwidth to achieve ambitious targets and together, both these reasons lead to greater inattention towards the portal. Well, we wouldn’t say that this problem has been solved completely. However, we have figured out the way we wish to run Fintuned and in a “sustainable way”.

So, what have we done? For starters, we are now just two members who will be focusing qualitatively on holistic maintenance of Fintuned. To be sure, it doesn’t definitely mean that we wish to just stick to two people who look after everything. Most certainly, we are hungry for participation and will strongly entertain people who would love to work with us in any way possible. 

*However, we would like to keep the nature of the association temporary so as not to build absolute dependency on our well-wisher till the time he/she is totally ready to join the bandwagon.

Taking it further, something else that we will practice from now on is to set achievable targets for Fintuned. Again, it certainly doesn’t imply that we will work with a survivor attitude. It just conveys the fact that we wish to lay a strong foundation and duly acknowledge the time and effort that shall be required.

From here on, everyone who has supported us in some way or the other will definitely see consistent hard work employed in building a genuine, interesting and an informative resource. On that note, we can surely shout out

“It’s good to be back”

Stay Tuned For More and Look Forward to a Great Year 🙂

A Step Forward

When we started Fintuned, our sole objective was to help people strengthen their money sense, which would eventually translate into best possible use of their hard-earned money. Now, if you are wondering that these sentences are used when an entity is eyeing a novel development with respect to its business objectives/functions etc., then you are absolutely RIGHT.

Before we shed any further light on this evolution, let us clearly point out that the primary objective that drives (and always will) this initiative is propagating valuable money knowledge via an active learning & doing portal. As a matter of fact, this new development is just an effort that gives more meaning to our vision and is hugely beneficial to our patrons.

So, coming straight to the idea that we are extremely excited about — it has been a reasonable amount of time that we have been in this space. During this time, we have realized (based on the feedback from our patrons and frequent meetings within the team) that a “Do-it-yourself” approach requires much more than just education. While there is no harm in preaching about the significance of robust money sense, it is also necessary to support the patron, throughout the execution process. If that is not done, the education loses its meaning and becomes a non-actionable piece of engaging literature.

By now, it must be clear to you that we do not want this to happen with Fintuned. Therefore, in order to assist our patrons in their journey, we have kick-started an initiative called “Partner Program”. Basically, the objective of this initiative is to bring various financial services entities under one umbrella so as to become a one-stop shop for commencement of any financial plan.

Now, let us address the burning question for you. It is completely okay for our patrons to ask us about the credibility of these partners. To be honest, we had contemplated this initiative around 6 weeks back and post that, we began searching for our first partner. After looking out for a while and talking to several people, researching on their background, understanding their availability, and addressing their limitations, it took us almost six weeks to zero in on our first partner. Starting May, you will see the details of our first partner under the “Partners” page and post that, you can leverage the services provided by that partner, with reference from Fintuned.

It is totally understandable if you are still not convinced about the credibility of our partners and the effort we put behind getting one. To be extremely fair, the conviction will only come when you use the services of our partners for achieving your financial objectives. Therefore, beginning May, we will unveil our partners in a gradual manner and will continue to forge new relationships, which will add immense value to our entire family.

Yes, we have probably written quite a lot. However, we are super confident that you will continue to support us the way you have because we promise that our satisfaction will stem only and only from your growth.

Thank you very much for all the support and conviction!


The Lilliput Budget is Here

To be honest, we haven’t drafted a mysterious, funny, and an entertaining build-up for this one. This is because, we want you to immediately view and gain valuable insights from our presentation on the Union Budget 2015.  As promised, it is short and simple!

If you like our work and want to help us do more of it, then please subscribe to this blog and follow us on Twitter.

For any feedback, please write to us on fintuned.net@gmail.com

P.S: Since it has been embedded with MS PowerPoint Online, the slides may take a bit longer to load. Please bear with it because we promise it will be worth it 🙂

Happy reading and cheers.

Lilliput Budget On Your Way.

Do you feel a bit intimated like those tiny citizens of Lilliput felt after encountering the gigantic Gulliver,

on hearing about the Budget!

If that is the case (even in the slightest) then please read on.

To be honest, the hype around the budget has led us to believe that it is a magnanimous and mysterious puzzle, which cannot be understood in full. In order dispel this myth,  WE HAVE designed a little SOMETHING FOR YOU.

On this Budget day, two pretty majestic things are going to happen. One of them obviously being the activity in the markets and the other — What we are going to tell you now”. (okay, too much for the Barney Stintson build-up)

So, coming straight to it, let us happily inform you that we have taken an initiative to frame a synopsis of the budget and deliver it straight to your inbox ( just subscribe to our blog, please) on Sunday i.e. one day after the budget. 

‎The purpose of this synopsis is to make you aware of one of the most significant fiscal ordeals in the year, albeit in an interesting way. This is to ensure that you don’t nap like Mr. RaGa while listening to the budget, or tolerate the tyranny of the lengthy newspaper articles.

For this budget, the only thing you will be required to do is to check your inbox the next day!

We have it covered! 


UPDATE: Illustrating Gratuity’s Tax Treatment.

As we promised, here is a simple example that illustrates the taxability of Gratuity. If you have any doubts with this illustration or in general, please reach out to us at fintuned.in@gmail.com


Mr. X had been working with a private company since past 15 years, 7 months. He is retiring on 5th April, 2014. His current Basic Salary = Rs 60,000 pm, DA = Rs 8,000 pm. He is going to receive a gratuity amount of Rs 7 lakhs on retirement.

Note: Mr. X’s basic salary and DA have been the same since past 1 year.

Lets consider 2 situations here – (A) Mr. X is covered under Payment of Gratuity Act, 1972; and (B) Mr. X is not covered under Payment of Gratuity Act, 1972.

(A) Mr. X  is covered under Payment of Gratuity Act, 1972

Maximum exemption from tax is least of the 3 below:

(i) Actual gratuity received; – Rs. 7,00,000.00

(ii) Rs 10,00,000;

(iii) 15 days’ salary for each completed year of service or part thereof – 15/26*16*68000 = Rs. 6,27,692.00


Therefore Rs. 6,27,692.00 is the Gratuity amount which is exempted and the balance amount will be taxable as per the Income Tax slab  for the year in which the gratuity amount has been received by the employee.


(B) Mr. X is not covered under the payments of Gratuity Act, 1972

Maximum exemption from tax is least of the 3 below:

(i) Actual gratuity received; – Rs. 7,00,000.00

(ii) Rs 10,00,000;

(iii) Half-month’s average salary for each completed year of service (no part thereof) — 34000*15 = Rs. 5,10,000.00


Therefore Rs. 5,10,000.00 is the Gratuity amount which is exempted and the balance amount will be taxable as per the Income Tax slab  for the year in which the gratuity amount has been received by the employee.

Gone for Long! Here’s why.

Hi Folks,

I know it has been a while since I published my last post. Well, at first, I owe my apologies for being absent for a tad bit longer than my original plan. Second, let me be honest and say that I have missed blogging about something that I like and am eager about. Now, let me briefly tell you about what I had been upto in the last few months and how are things going to shape up in future.

A couple of months back, I dissolved my Facebook page by the same name and re-branded it to MoneySutra in order to reflect a bigger and better team that shared similar fiery passion for personal finance and had gotten together to create something valuable. This team consisted of qualified and experienced personalities from the world of finance complemented by dedicated support from certified financial planners in the Mumbai region. Ready with a team and an optimally-designed blog, we set out with a few ideas in the field of money management with the intent to boot a full-fledged start-up out of one of them.

For more than two months, we worked on these ideas but truth be told, our efforts were less than a tenth of the ideal efforts. Owing to different engagements, most of the team members were unable to complete tasks on time and that led to stagnancy and frustration within the team. Naturally, we never intended to let it go this way but certain circumstances made it practically impossible to implement the idea and turn it into a viable business.

Therefore, a few days back, I decided to quit the team in order to take a pause and give a serious thought to our team efforts. The pause is now over and coming out of it, I have decided to run this blog with renewed enthusiasm and steadfast research. While I am not sure whether there will be a feasible business coming out of this sooner or later, my efforts for now will be dedicated to pursue this blog.

On that note, let me go ahead and assure you of high-quality and well-researched posts from the world of money, which are easy to understand and implement. Godspeed.

Happy reading and cheers!

Mihir Mehta

Everything You Need to Know About SIP !

A couple of days back, I got a call from a friend who was all confused about this thing called SIP. He asked me,  “Boss, ab yeh SIP kya naya cheez hai? [Translation: What is this new thing called SIP] and his next question was – “Is it a type of an insurance plan?”.

Hence, the intent behind writing this article is to answer his question and any doubts that might be lingering in the heads of other people regarding SIP. I will try to make it as precise and interesting as possible so that you don’t have to continuously sip on your coffee and keep your eyes open. 😛


First off, SIP expands into Systematic Investment Plan and to be very clear at the onset, it is necessary to understand that SIP is not an investment instrument but a style of investment that has been pioneered by financial institutions in order to instill the habit of saving and investing among people. Therefore, a SIP is nothing but a plan of investment wherein people are required to invest  small amounts at periodic intervals rather than investing a lumpsum amount of money.

This very feature of investing in bits makes a SIP the safest mode of investment because the investor is not worried about the highs and lows of the market as his investment is spread over a large period.

Let me tell you something very interesting that is inspired by Warren Buffet:

“It is wasteful to attempt to beat the market because at the end of a particular period, the highs and lows in the market combine to give an average return, which is risk-free.”

Hoping that you would have got an understanding of a SIP [Yes, its not at all complex], I have prepared a set of Q&A around SIP that should answer most of your queries.

Q1.  How do I begin a SIP?

Answer: Starting with a SIP is not complicated at all as you can just go to your bank/stock broker or any mutual fund house and fill out the required documents. The investment in a SIP can be in two ways:

a. Electronic clearing service (ECS)As simple as an arrangement with the bank to deduct the desired amount from your bank account on a predetermined date.

b. Post-dated cheques (PDC)Payment is made via bank cheques and the amounts are deducted from bank account on dates mentioned in the cheques.

Q2. You mentioned “required documents”. Now, what are these?

Answer:  Do not worry about it at all! Yes, the documents would be specified in the KYC form and other forms given to you. I do not want to scare you with a long list of documents by mentioning them now!

Q3.  How much do I need to invest?

Answer: In India, if a car buyer asks “Kitna degi” [Not clear, watch this ad but after completing the article] then an investor asks “Kitna dena padega”. Well, in order to commence a SIP, the minimum investment required is Rs 500/-. Yes, that is it!

Q4. This sounds interesting but can it save some tax for me?

Answer: This is one big area of concern for investors. The answer is that a SIP in an Equity Linked Savings Scheme (ELSS) can save tax for you if the following conditions are satisfied:

a. The ELSS fund is approved by the Government of India.

b. The investor has a PAN card and has filled out details on KYC form.

It is important to note that the deduction is made for the amount invested in ELSS through SIP. The said deduction is available u/s 80C and to a maximum of Rs 100,000.

Q5. Wait, what are ELSS funds?

Answer: Simply put, an ELSS is a fund that puts your money into equity markets. Also, while you get the tax benefit on these funds, the benefit of upside in the markets is also obtained. For a list of well-performing ELSS funds, do check this link.

This may sound quite complex and hence, I have kept the topic of ELSS at bay for now. In the course of next few days, I will come out with a separate article on ELSS funds and their taxability.

Q6. So, can we once go over the benefits of SIP?

Answer: Yes, definitely. The benefits of a SIP style of investing are:

a. It helps you to use the power of compounding. To know about it, check this short PPT.

b. It gives you the advantage of rupee cost averaging. Though the term sounds complex, it simply means that by investing at regular intervals, your returns from the markets are stable.

c. Develops the habit of saving money and if you have an ECS then better!


Well, this is pretty much all about Systematic Investment Plans (SIP) . There is a possibility that you might face a difficulty in understanding some of the terms mentioned here. If that’s the case then please send over any queries/suggestions to fintuned.in@gmail.com OR use the comments section.

Cheers 🙂

Do Not Pay Extra Money When You Shift Employers!

Note: This blog post has been contributed by CA Saran Kumar Uppalapati, Co-founder at ChaiReturn.


Have you worked for 2 companies in last Financial Year? Then there are chances that you may need to pay the tax beyond the TDS (Tax deducted at source) deducted by your employers.

Whenever an employee joins any Company, the Company’s account/tax guys asks him/her to submit a declaration with respect to their investments/incomes so that they can make a fairly accurate tax computation. One component among those details is “Salary earned from previous employment”. If you mention the same, there is no issue, as the Company deduct the TDS by clubbing the previous employment income also for that particular Financial Year.

Let say, you ignored the option. If so, you may need to pay the extra taxes while filing the tax return.

Read through the case study to understand better:

Mr X worked for ABC Company for first 8 months and earned a taxable income (i.e after all allowable deductions) of Rs. 2, 35,000. The Company also deducted the exact TDS on 2, 35,000 i.e., Rs. 3,605 (10.3% as per current tax bracket). After working for 8 months, Mr X shifted to Company PQR Limited. Also Mr X missed out on filling details under tax declaration for the component “Salary earned from the previous employment”.

X earned the taxable Income of Rs. 2, 30,000 and the Company also deducted the exact TDS on 2, 30,000 i.e., 3,090(10.3% as per current tax bracket). Mr X was quite happy that the tax was properly collected and deposited to the credit of Central Government.

However, the real deal begins now. Mr X visited a tax consultant (say, www.chaireturn.com) to file his/her Income tax returns. As usual, the tax consultant gathered all the information and prepared the tax return and gave a summary to the client stating that client needs to pay the Rs. 20,600/-. The tax expert explained the entire ordeal to the client Mr X and he eventually paid the taxes along with interest dues.

Now, the big question is this: Why did Mr X have to pay taxes even after Tax at source was deducted and deposited?

The reason is that while filing the income tax returns, Mr X is required to club all his incomes earned in the year and then apply the tax rates i.e., 10%/20%/30%. In this case, Mr X’s total taxable Income is Rs. 4, 65,000 (2, 35,000+2, 30,000).

Now, on the above mentioned amount if we apply the tax rate of 10.3% (above 2, 00,000 and below 5, 00,000) the tax payable is Rs. 27,295 but the total of tax deducted by the both companies amounted to Rs. 6,695 (3,605+3,090). Hence he need to pay the additional tax of Rs. 20,600 along with the interest.

Hence, if Mr X would have declared his previous company earnings after being employed by the new company, then he would have been spared from the interest amount as the new company would have deducted TDS accordingly. So please do remember to declare your income with the previous employer.


Chaireturn tax computation