Water & Shark’s Post

The National Housing Bank (NHB) was born out of the need for long-term housing finance, as identified during the Seventh Five Year Plan (1985-90). Recognizing this gap, a high-level group led by Dr. C. Rangarajan recommended creating a dedicated housing finance institution. Announced by the Prime Minister in the 1987-88 Union Budget, the NHB Act was swiftly passed in December 1987, establishing NHB on July 9, 1988. Funded initially by the Reserve Bank of India, NHB became the apex housing finance institution, with a mission to make housing credit more affordable and to support housing finance institutions nationwide. In 2019, its regulatory powers were transferred back to Reserve Bank of India (RBI) to streamline the housing finance sector. NHB continues to play a crucial role in promoting inclusive and stable housing finance, focusing particularly on low and moderate-income groups, ensuring that the dream of owning a home is within reach for more Indians.

Who remembers there last surprise bill!?!?! - More than half of Canadians struggle to keep up with the rising cost of living. - Three out of four have adjusted their spending to make their money go further. The Struggle to Cover Unexpected Expenses: - **Half** of Canadians would be unable to cover an unexpected $1,000 expense. - **One-third** of Canadians feel burdened by debt. - Discretionary spending and major purchases are being sacrificed to make ends meet. The Impact of Financial Stress: - 70% of Canadians consider money a significant source of stress. - The cost of living remains a constant worry for many. What steps can we take to build greater financial resilience? Why do we feel we need to make sacrifices with so many potential options available. Or maybe with so much potential it has become overwhelming and like it would never work for us..... P. S. What has your experience been like with finding alternative ways to make an income? What did you try out? P. S. S. Side flipping note.... Wtf would a real extra 1000.....4000 a month do for you

gradual Development is a key factor for every developed nation.

In india no govt help for older people. Spend the hard earned money very wisely. Healthcare is a big expense and make you bankrupt at an old age. Now the govt has a unemployment insurance. My advice to invest tax saver and ppf first on all the family name after keeping 5 Lakhs on each name in the govt bank. All your money are secure by IRDA. In ohter investment like LIC or pension that are taxable income. From tax saver and PPF non taxable income. DO invest in post the agent steal the money. it is better to invest in NPS afterwords. Make sure that you have money at an old age base on life style.

"Unlocking Financial Freedom: A Tax Guide for NRIs Returning Home" When Ram, a seasoned Non-Resident Indian (NRI) returning to India, sought guidance on tax-saving strategies, he turned to a trusted advisor for help — me, his auditor. Ram's quest for financial security upon his return from the US sparked a collaborative journey towards understanding the intricate world of Indian investments and tax-saving schemes. As Ram's auditor, I embarked on extensive research, determined to equip him with the knowledge needed to make informed decisions about his hard-earned wealth. Our collaboration wasn't just about numbers; it was a partnership fueled by a shared commitment to financial empowerment. After thorough analysis and careful consideration, I distilled our findings into a comprehensive guide: "Investment Options and Tax-Saving Schemes for NRIs Returning to India." This article is the culmination of my efforts, born from Ram's quest for financial security and my dedication to serving his needs as his trusted advisor. From Fixed Deposits offering stability to Mutual Funds promising higher returns, each investment avenue was dissected and evaluated for its potential benefits and tax implications. Ram's story became the backbone of our narrative, showcasing the real-world challenges and triumphs of an NRI navigating India's financial landscape. As an auditor, my role extended beyond mere number-crunching; I became a storyteller, weaving together Ram's journey with practical advice and expert insights. Through this article, I aimed to empower not only Ram but also countless others facing similar financial dilemmas. Now, as I share our guide on LinkedIn, I hope it serves as a beacon of knowledge for NRIs embarking on their own journeys back home. Together, Ram and I have unlocked the secrets to financial freedom, proving that with the right guidance and determination, anyone can navigate the complexities of taxation and investment. Join us on this journey and discover the keys to unlocking financial freedom as an NRI returning to India: https://lnkd.in/g_TH3HyA #NRIFinance #TaxSavings #FinancialEmpowerment #InvestmentStrategies #ReturnToIndia #WealthManagement #AuditorInsights #TaxPlanning #FinancialIndependence #NRIInvestments

For NRIs, money management has always been a hard nut to crack. With multiple income streams stretching from India to abroad, NRIs are faced with complicated decisions on how to manage their finances. However, to counter this complication, there are two viable options that stand out. In this blog, by shedding light on NRE and NRO accounts, we aim to simplify financial intricacies faced by NRIs. #TapInvest #Tap #NRIInvestments https://lnkd.in/gdAnHHwv

I wanted to share information about FHSA (First Home Savings Account). An account designed to help the younger generation buy a house and deduct tax beyond RRSPs. Reach out to me for any questions. I would be happy to help you out. #investing #FHSA #canada #canadians

For NRIs Remitting Funds to India: Key Considerations for Compliance In light of record remittances from the Indian diaspora, surpassing $100 billion in recent years, NRIs investing in India should keep the following in mind: 1. File ITR in India: Even if not mandatory, filing your income tax return is advised. Large financial transactions without a return may trigger scrutiny. 2. Monitor for Notices: Regularly check the Income Tax portal for any notices related to past years. 3. Respond Calmly to Notices: If you receive a notice, don’t panic. It typically seeks clarification on the nature and source of your financial transactions. 4. Maintain Proper Documentation: Be ready to provide: - Indian bank account statements - Remittance records showing funds sent from abroad - Foreign bank account statements - Proof of foreign income 5. Address Issues Early: Aim to resolve any questions with lower authorities by providing clear documentation and explanations. 6. Seek Professional Help: Cases will likely involve Sections 68/69 of the Income Tax Act. Expert advice is crucial. 7. Cooperate with Your Consultant: Even if certain document requests seem trivial, follow your consultant’s guidance. 8. Stay Informed: Create an account on the income tax portal and regularly check for any communications from the department. #NRITaxation

🌍 Happy International Day of Family Remittances Today, we recognize and #celebrate the vital role remittances play in #families and #communities worldwide. Remittances provide crucial support to approximately 1 billion people globally, making a significant impact on the lives of those who receive them. 🔎 The lack of #transparency in remittances inflates costs, making it difficult for consumers to compare prices. Banks and providers should tell people exactly how much their transfer costs, including fees and exchange rate margins. Better transparency would help achieve the UN goal of reducing remittance costs to 3% by 2030. ✨ Celebrate with Us: Share your story and tell us why sending money abroad is important to you. Let’s inspire others and highlight the transformative power of remittances. #Together, we can make a difference.  👉 Share your story: https://wi.se/zdzp2l

The $1 Million Dollar Scheme, formulated by the Reserve Bank of India (RBI) under the FEMA Regulations, serves as a pivotal avenue for the repatriation of funds exclusively for Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), Overseas Citizens of India (OCIs), and Foreign Nationals. This scheme outlines a framework for the seamless transfer of Indian assets amounting to $1 million within a given financial year, excluding Indian residents. Any amount exceeding USD 1 million per financial year requires prior permission from the RBI for remittance. Beneficiaries can repatriate various assets such as proceeds from the sale of securities, immovable properties, superannuation, PF benefits, maturity proceeds of insurance policies, gifts received from resident individuals, bank balance savings, and other assets held in India in accordance with FEMA, 1999. Key points to consider include the absence of Tax Collected at Source (TCS) during the repatriation process, the ineligibility of borrowed funds for repatriation, the requirement to use the Non-Resident Ordinary Rupee Account (NRO Account) for repatriation, the necessity to pay taxes on income earned in India before repatriation, and the prohibition of third-party transfers. To initiate the repatriation process, a comprehensive set of documents is needed, including proof of funds sources and tax payments, FEMA Declaration and Transfer Request, Form 15CA, Form 15CB, and any other documents requested by the Authorized Dealer (AD) Bank. By following the guidelines of the $1 Million Dollar Scheme, NRI/PIO/OCI/Foreign Nationals can effectively transfer funds from India to abroad while saving on TCS implications, thereby optimizing their financial prospects.