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Information provided on this newsletter has been independently obtained from sources believed to be reliable. However, such information may include inaccuracies, errors or omissions. ecrmagic.com and its affiliates, information providers or content providers, shall have no liability to you or third parties for the accuracy, completeness, timeliness or correct sequencing of information available on this newsletter, or for any decision made or action taken by you in reliance upon such information, or for the delay or interruption of such information. ecrmagic.com, its affiliates, information providers and content providers shall have no liability for investment decisions or other actions taken or made by you based on the information provided on this newsletter.
Stay cool and hydrated. Drink water, at least two to four cups (16-32 ounces) upon rising, and similar amounts if you are going out for activities and exercise. Carry water with you in a hard-plastic container (more stable polycarbonate rather than polyethylene that leaches plastic into the water). You may also use a traveling water filter. Most people need two to three quarts of liquid per day, and more in hot weather or with sweating and exercise.

While enjoying the sun and outdoors, protect yourself from overexposure to sunlight by wearing a hat and using natural sunscreens without excessive chemicals. Carry Aloe Vera gel for overexposure and have an aloe plant growing in your home for any kind of burn. The cooling and healing gel inside the leaves will soothe any sunburn. It works great.

Keep up or begin an exercise program. Aerobic activity is important for keeping the heart strong and healthy. If you only work out in a health club, take some time to do outdoor refreshing activities -- hiking, biking, swimming, or tennis. Reconnecting with these activities will help keep your body and mind aligned.

Enjoy Nature's bounty – fresh seasonal fruits and vegetables at their organic best. Consuming foods that are cooling and light -- fresh fruits, vegetable juices, raw vital salads, and lots of water -- will nourish your body for summertime activities. Include some protein with one or two meals. There are a number of light, nourishing proteins that don't require cooking. Most of these complement fruits and vegetables nicely-- nuts, seeds, sprouted beans, soy products, yogurt, kefir, and cottage cheese. Fish and poultry can also be eaten.

Take some special summer time with your family, kids, and friends who share the enjoyment of outdoors. Plan a fun trip if you're able and motivated for a day or longer -- hiking in the wild, camping, playing at the river, or a few days resting at the ocean. Rekindling our Earth connection has benefits that last beyond this season, continuing to enrich the whole of your life.

Relax and breathe. You've been working hard. This is the season to slow the pace a bit and absorb the light that stimulates your hormonal message center. Leave your cell phone at home or take a week off from TV. In many European countries, most of the population has a month off during the summer.

Sun teas are wonderful. Use flowers and leaves (or tea bags) in a clear half- or one-gallon glass jar filled with spring water. Hibiscus or red clover flowers, peppermint, chamomile, or lemon grass are all good choices, or use your local herbs and flowers that you learn are safe, flavorful, and even medicinal. Leave in the sun for two hours or up to a whole day. Moon teas can also be made to enhance your lunar, dreamy side by letting your herbs steep in the cooling, mystical moonlight. Add a little orange or lemon peel, or a sprig of rosemary and a few jasmine flowers.

Nutritional supplements can support you with a greater amount of physical energy, enhancing your summer activities. The B-complex vitamins are calming to the nervous system and helpful for cellular energy production, while vitamin C and the other antioxidants protect your body from stress, chemical pollutants, and the biochemical by-products of exercise.

Use the summer months to deepen the spiritual awakening begun in the spring. Begin by checking your local bookstore or the web for ideas that interest you. Plan a vacation that incorporates these new interests and provides you time to read, relax, contemplate, and breathe.

Above all, give yourself the time to truly experience Nature. This can happen, even in a city park, if you relax and let in your surroundings. When traveling, take activities for the family and your first aid kit for bites, bee stings, and injuries. Check for ticks after your hikes. Watch for overexposure, take time in the shade, and drink your water.

Source: healthy.net

If you've been foxed by the differences between the following terms, you're not alone. Here's how to understand and remember the distinction, says Riju Dave.

1.TAX EXEMPTION VS DEDUCTION
Both are options to reduce tax liability, but are availed of in different ways under different sections of the Income Tax Act.

Exemption
This is the amount that is excluded or removed from the gross total income. The benefit is available only from a specific source of income, not the total income, under Section 10 or 54. These can include leave travel allowance, interest from tax-free bonds, or long-term capital gain on equity funds, among others. The specified amount is removed from the total income before tax is calculated.

Deduction
This refers to the reduction in the total taxable income through benefits availed of under Section 80 (80C to 80U). This is done while calculating taxes; it is first added to the gross total income and then deducted from it. The specified amount can be reduced by investing in or spending on specific avenues. For instance, deduction of Rs.1.5 lakh is available if you invest in particular life insurance policies or spend on children's school tuition fee, among other avenues.

2. TERM PLAN VS TRADITIONAL PLAN
Term plan

This is a pure insurance tool that covers the risk to your life. It does not offer any return or maturity amount on the completion of the term and the sum assured is given to the nominee only on the death of insured person. The premium amount is low since it only covers risk and is a must have if you are an earning member and have dependents or loan liability.

Traditional plan

This tool is a mix of insurance and investment. It offers the maturity value at the end of the specified period along with some bonus or guaranteed amount. Since it includes an investment portion, the premium amount is much higher compared with that of term plans. These can also be surrendered though the charges can be high if returned early.

3. ADVANCE TAX VS SELF-ASSESSMENT TAX
Advance tax

You need to pay advance tax if you are a salaried taxpayer with other sources of income like interest on deposits and your tax liability for the year exceeds Rs.10,000 after your employer has deducted the TDS. You pay this tax in the financial year preceding the assessment year in three instalments and the due dates are 15 September, 15 December and 15 March. The penalty for not paying this tax is 1% of the due amount per month.

Self-assessment tax

This tax is paid in the assessment year before filing the income tax returns. If during the calculation of your tax liability, you realize that some tax is still due after taking into account the TDS and advance tax, then you pay self-assessment tax. There is no specified date for paying this tax and is done by filling a tax challan ITNS 280 at specified bank branches or online.

Source: Economic Times
E-insurance is insurance in digital form, similar to shares in Demat form. Financial services are gradually moving towards full digitization, and it was only a matter of time that insurance too caught up.

Let’s take a look at what e-insurance is, and what its benefits and important features are.

Overview of e-insurance

An e-insurance account is essentially a digitized insurance repository. There are various repositories approved by the Insurance Regulatory and Development Authority (IRDA). They are National Insurance Policy Repository (NIR), Stockholding Corporation of India ltd insurance repository, CAMS, Karvy, Central Insurance Repository Ltd (CIRL) etc. These agencies keep your insurance policy in digital form also known as e-policy.

Currently all policies such as life insurance, health insurance, general insurance, and annuity policies can be maintained in an e-insurance account. Additionally, all services will be handled by the insurance repository. Most of the service requests can be filed online.

Benefits of e-insurance

Apart from digitized storage of your policy documents, e-insurance accounts provide ease of access of documents, anytime and anywhere via the internet. This would come as a relief during emergencies where claims have to be made. The policy documents can also be downloaded as PDFs from your account.

Any account updates that insurance holders want to do can also be done online. This is faster than applying for change by visiting a branch and submitting KYC proofs.

All the policy statements, premium payments, and application for claim can be made online. At the same time, the claims, survival benefits, or any partial withdrawal can be transferred electronically to the bank account directly.

How to avail e-insurance account

Anyone can avail the e-insurance facility. All you have to do is to visit the insurance repository branch, or you can do it through the insurance company. Fill up the required form, sign it, and attach the required documents for KYC verification. It takes about a week to open the account.

To add a policy into your account, you have to quote the e-insurance account number in the insurance application form. This will automatically add your new insurance policy in your E-insurance account once your policy is approved.

Remember that you can open only one e-insurance account. You can keep multiple insurance policies under this account. However, you can change your repository if you wish so.

Most current insurance holders have their policies in paper. There is also the provision to convert them to e-insurance. For this, you can submit a request to either the insurance repository or the insurance company which sold you the policy.

Source: The Financial Express
Simple routine spells the death of most New Year’s resolutions. The holidays pass in a blur of excitement and enthusiasm, and before we know it, we return to the daily habits and practices that generated a desire for change in the first place. If you finally decide to make 2017 the year you take control of your finances, it's time to lay the groundwork for achievement.

A popular area to target, the sheer scope of personal finance can overwhelm those with good intentions. However, even if you struggle to keep your resolutions, research shows steady commitment can yield powerful results. To make this year one for the financial record books, take these six New Year’s resolutions as your starting point.

1. Lower Debt
Debt provides one of the most pernicious stumbling blocks for personal finance. Regardless of how much we plan and save, debt payments can cripple finances and make it difficult to get ahead. Before you can truly reinvent your financial situation, you must come to terms with your debt load. It’s often impractical to tell yourself you will pay off all your debt. Instead, create a plan to lessen the burden and pay it off steadily over time. Look at your interest rates, and determine which debt costs you the most money on a monthly basis.

2. Increase Savings
Once you’ve created a plan for your current debt, the next step is to ramp up your personal savings. The automatic debit of a portion of your income directly to savings can make this painless. As with your debt, create a savings plan to maximize your efforts. Look carefully at your finances, and choose an amount that’s both ambitious and comfortable. If you’ve not done so, create an account that you dedicate purely to savings. Most banks will offer free checking and savings accounts, and the more care you take to separate your savings, the more likely that it will grow.

3. Create (And Stick To) a Budget
A budget provides an invaluable tool to help with any financial resolution. The more control you exercise over your finances, the more freedom you have to pursue financial goals. To get started, track each and every expense over the course of a month. Keep your receipts, take notes on your phone, and check your balance histories to ensure that nothing gets forgotten. Also, account for necessities such as rent, utility bills, and debt payments.

Once you have gathered this information, determine the amount you need each month for your necessary expenses. Your remaining resources can go toward savings, entertainment, and whatever you choose; the trick is to remain within your budget, and not allow incidental purchases to overtake your careful planning.

4. Lower Expenditures
One way to create more money within your budget is to lower your monthly expenditures. One area often overlooked is various monthly subscriptions. If you have multiple streaming services or memberships, for example, pick the two you use the most and cancel the rest. Also, review your monthly bank statements to locate any payments that may have slipped your mind.

Armed with your new budget, you can also isolate areas in which you overspend. Food and entertainment become the common culprits here, and many people fail to realize how much they truly spend on dinners, coffee, and movies. If you notice that you spend more in a week eating out, spend half that amount on extra groceries. If you do, you’ll find yourself healthier, wealthier, and wiser to the habits that present an unnecessary drain on finances.

5. Learn to Invest
Passive income — the kind generated through investments — is the easiest way to improve your finances and add breathing room to your budget. If you’ve never invested before, you may not know where to start. A financial advisor becomes an invaluable resource, as you can start your investments and ask questions to learn the ropes yourself. However, where you should put your money depends on personal preference and available opportunities.

Once you get comfortable with the risks and rewards of investments, you’ll feel more enabled to take control of your money for the future. As a tool to bring about greater happiness and freedom, you can’t go wrong with more investments in the New Year.

6. Automate Everything
Online automation provides a simple way to improve the financial outlook of practically anyone. If you’ve ever had difficulty sticking to a budget, then a resolution to automate everything will create an ideal tool. Most monthly bills, from rent and utilities, to cell phone plans and credit cards, will allow you to set up an automatic payment schedule. Online tools can also help track finances and target areas where you overspend. Through careful planning and automation, you’ll find more money in your budget to play with, which helps support any other financial resolutions you’ve considered.

If you commit to these simple New Year’s resolutions early, you’ll find yourself with a better financial outlook throughout the year. All it takes is a little time to inculcate good habits — and by the time 2018 rolls around, these resolutions will seem par for the course. www.selflender.com
Please do not reply back to this mail. This is sent from an unattended mail box. Please mark all your queries / responses to webmaster@ecrmagic.com.
Information provided on this newsletter has been independently obtained from sources believed to be reliable. However, such information may include inaccuracies, errors or omissions. ecrmagic.com and its affiliates, information providers or content providers, shall have no liability to you or third parties for the accuracy, completeness, timeliness or correct sequencing of information available on this newsletter, or for any decision made or action taken by you in reliance upon such information, or for the delay or interruption of such information. ecrmagic.com, its affiliates, information providers and content providers shall have no liability for investment decisions or other actions taken or made by you based on the information provided on this newsletter.