Updated Fixed Deposit Calculators

Here are updated versions of three fixed deposit calculators.

  • FD calculator for investment tenure in months and years (tax to paid each FY and advance tax liability)
    • minor bug fixed
    FD calculator for investment tenure in days (tax to paid each FY and advance tax liability)
    • macro button added to stop and start calculations for easy use
    FD calculator for investment made in spouses name or minor childs name (tax to paid each FY and advance tax liability)
    • minor bugs fixed

    If you hold fixed deposits, I request you to compare the (pre-tax) maturity value given by these calculators with the value given by the bank. There may be situations where there is a discrepancy. I will post a couple of calculators next week which will help us understand and circumvent this discrepancy.

    You feedback is very important for making the calculators more efficient and usable. Do consider sharing these calculators with your friends and family. read more

New Pension Scheme and Me

Just so you know, I am currently being investigated by the income tax department for discrepancies in my tax returns a couple of years ago! When I got the letter to  appear before an IT official a few months back, I was too sick to do so and had to request a postponement.

Me and my cousin (a competent CA) spent quite a bit of time wondering why I was being investigated. We didn’t come up with anything and everything seemed correct. My cousin represented me a month ago in the hearing and found that according to their (incorrect) records the TDS amount deducted from my income was twice of what I had declared in my return. This meant that I had paid taxes for only half my income and hence a red flag was raised by the system! read more

Weekend Roundup III

  • PPFAS Long Term Value Fund has released its second factsheet It has a well diversified portfolio with about 11% international equity and 6% in debt.

  • Check out an interesting book: The Idea Bucket: Simple Happy Debt free lives available free on Amazon for a couple of days.
  • read more

    Cashless Mediclaim – A First Person Narrative

    In March this year I had a thymectomy – surgery to remove my thymus gland. The procedure was paid via cashless mediclaim. I thought sharing my experience with ‘cashless’ might be useful to other readers.

    My hospitalization was planned. That is I had plenty of time (5-6 weeks) to plan my hospital stay from the moment it was decided to go ahead with the surgery. Sometimes one has only a few days depending on the procedure. Even for such cases the patient and his/her attendant have the time to get all insurance particulars in order, approach the hospital and get the stay approved by the insurer for cashless payment via the hospital. read more

    Dealing With Complex Cash Flows -I: Chit Fund Returns Calculator

    This calculator returns the CAGR value based on Chit fund cash flows using Excel’s XIRR and IRR functions. Even if you have no interest in chit funds (good for you!), if you are someone who uses Excel to calculate returns (of any financial instrument), I strongly urge you play with this calculator as it highlights the limitations of estimating returns for complex cash flows.


    Reader R. Siva Prasad, requested that I make this calculator to try and make sense of chit fund returns. Earlier, reader Hari sent a video link which pointed out the limitations of XIRR and IRR when he saw my Investment Returns (XIRR) Calculator read more