A1 Journey to financial planning

Everyone needs money to meet their needs. So everyone is trying to save money in their own way or special technic.This Method we call Saving Money.

Financial Planning Is Art

Journey to financial planning
Journey to financial planning

We keep this savings money as a deposit or invest it in real estate like land and house. This type of investment is called investment on Real Estate. Real Estate option is Always loved by Investor for investment.

Every investor invests the remaining money wisely to meet their needs.This is called financing planning.

Wealth growth and security are the main objectives of the economy.


Savings need to be safe and increase.The amount you save is more secure in the bank or post.It was convenient to transact the money kept in the bank for cashless.
By doing such transactions, you do not have to keep more money with you and the main advantage is that there is no fear of money being stolen.😉

If the savings you make are in the form of cash and you keep it without investing it, its value decreases with time.The purchasing power of the goods decreases.

If you used your nearest money is used to start a new business, then this money use in national product and capital will increased.

If you make good use of money, you will definitely get financial freedom in the future.


There are many options available for investing. Investors prefer to invest in financial institutions such as banks and post offices as there is greater security of money.

Similarly Share market, mutual funds can also be good options for investing. But this investing is very risky.

There are two things to keep in mind when investing.

One is risk and the Another is profit.

The investor should keep in mind that taking more risk gives more profit but taking more risk can lead to more loss.

We have already written an article on investing in the stock market.


The government devises various schemes for the upliftment of the nation.The government needs a large amount of money for the implementation of these schemes.

The Utility Of Taxes

  • Providing infrastructure.
  • Implementing various welfare schemes.
  • Implementing development works and research schemes in different areas.
  • Maintaining law and order.
  • Helping citizens affected by natural disasters.
  • To protect the nation and its citizens.

Types of taxes

Direct tax

The taxes that are levied on the actual taxpayer are called direct taxes.
For example income tax, property tax, business tax etc.

Indirect tax

Taxes that do not fall on the direct taxpayer are called indirect taxes.
For example central sales tax, value added tax, excise tax, custom duty, service tax etc.

Income tax

If the income of an individual, organization or other legal entity in India exceeds the limits prescribed by the Income-tax Act, income tax is levied on it.

In India, income tax is levied through two Acts.

  • The Income Tax Act 1961 came apply into on 01.04.1962.
  • A law with financial provisions passed in Parliament every year.

Permanent Account Number (PAN)

A unique ten digit number is issued by the Income Tax Department on each person’s application.This is called a permanent account number.

This number needs to be mentioned in many important documents and financial transactions.

Use of PAN card

In order to pay tax to the Income Tax Department, it is mandatory to write pan number on challan, tax return (return form) and other correspondence.

Also, for large transactions, pan number has to be registered.
PAN card is often used as proof of identity.

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