February 14, 2017

VEHICLES RATE CUT AS LOW AS IN 2006: USE YOUR MIND TO CONSIDER CAREFULLY

The cars people drive say a lot about them. The outer beauty of the car finished with exquisite colour in addition to a comfortable interior, honking, as the cocky young man gets impatient waiting in the traffic. Driving a four wheeler builds a stature where an individual is seen differently. India has seen a spectacular rise in owning four wheelers with cities cities like Delhi, Kolkata, Mumbai and Bangalore has increasing number of conveyances transporting people.

Do you have plan to buy a CAR?

So are you planning to buy a car? This may be the best time as any auto finance experts say passenger vehicle financing rates has gone down lowest in 10 years. The rate cut in January has triggered the lowest interest slab which has now gone down to 8.75%. Even mass market cheap and cheerful models are now available in the 9.75-10% range which means, the interest rates are now back to the levels of January 2006.

There have been several rate cuts in the past one year which have made the rate remarkably charming for customers.

Currently the vehicles under the category called “Super Luxury” attracts around 8.75-9% rates, mid-size sedans like Honda City or Maruti Suzuki Ciaz around 9.25%, B-category premium cars like Maruti Suzuki Baleno, Hyundai i20 around 9.5% and entry level cars like the Maruti Suzuki Alto around 10-10.25%. In recent memory the rates are lowest at this level whenever someone is asked about.

But do you have any idea how much have the rates come down? Back in January 2006, B- category rates oscillate around 10-10.25%. For bigger mid-size cars, the rates were 9.5%-10%. By summer of 2007 the interest rates had jumped to 14.75% for an entry level small and economical car like the Alto and 14.5% for bigger cars, a 5% mark-up i.e. amount added to the cost to determine the asking price in 12 months.

For more advices contact MoneyMindz Financial Advisory services.

For More Information:

Give Us a Missed Call On 022 – 62116588

(Or) Download Our MoneyMindz -Expert Seller APP

(Or) Download Our MoneyMindz-Financial Freedom APP

(Or) Visit: http://www.moneymindz.com/

Read more

“THE HARDEST THING IN THE WORLD IS TO UNDERSTAND TAX” – LEARN MORE ABOUT INDIRECT TAX WITH MONEYMINDZ

 

“One thing is clear: The Founding Fathers never intended a nation where citizens would pay nearly half of everything they earn to the government.” ― Ron Paul

Death, taxes and childbirth –There is never any convenient time for any of them. But being an Indian citizen, we have to be responsible to tax paying for our welfare. Government take half of our money what we earn in terms of tax. But does that mean we should stop paying tax. Let us not think about tax, think we are helping our country for a step forward.India’s collection of tax continued to grow salubriously in January with an indication that the government is on a route to achieve its revised tax target for the current fiscal. The government’s net indirect tax collections grew by 16.9% year on year in January, with customs, central excise and service tax collections growing 10.1%, 26.3% and 9.4%, respectively, statement from the ministry cabinet which was expressed on Friday.

Net indirect tax collections (NDC) in the first 10 months of this fiscal stood at Rs. 7.03 lakh crore, a whopping 23.9% more than the net collections in last year.

The government has targeted gross tax revenues of Rs 17.03 lakh crore for 2016-17. Direct tax collections for the current fiscal up to January have grown 10.8% year on year at Rs 5.82 lakh crore. Corporate income tax grew by 11.7%, while personal income tax by 21.0%.

However, after the refunds are adjusted, the net growth in corporate income tax collections in the first 10 months of the fiscal is 2.9% while net personal income tax collections have grown to 23.1%.

Refunds amounting to Rs 1.41 lakh crore have been issued during April 2016-January 2017, which is 41% higher than the refunds issued during the corresponding period last year.

For more information and queries call MoneyMindz Financial Advisory Services.

For More Information:

Give Us a Missed Call On 022 – 62116588

(Or) Download Our MoneyMindz -Expert Seller APP

(Or) Download Our MoneyMindz-Financial Freedom APP

(Or) Visit: http://www.moneymindz.com/

Read more