Don’t worry, this won’t be a long read because the process is incredibly simple. You’ll be able to get started in no time. Here we go!

How do I start working on the PickMyWork App?

1. Download the PickMyWork App

   This is straightforward. The PickMyWork App is available on both the Google Play Store and Apple App Store, so whether you use Android or iOS, you can easily download it. We’ll include links for both platforms here to help you get started right away.

2. Register with Your Mobile Number and OTP

   Once the app is installed, all you need to do is enter your mobile number and confirm it via OTP (the app may even auto-fill the OTP for you). After that, fill in 2-3 basic details about yourself, and you’ll land on the homepage.

3. Choose a Recommended Project to Start Working

   The PickMyWork App offers over 50 live projects, but you don’t have to browse through all of them if you’re unsure where to start. Simply head to the “Recommended Projects” section. Pick a project that seems easiest or most appealing to you, and open it to learn more.

4. Review Project Information and Training

   On the project screen, you’ll find all the relevant details. Take a minute to read or watch the short training video about the project (it’s usually under a minute). Once you’re ready, share the product link with your customers to begin selling.

5. Track Your Earnings

   After your lead is added, you can easily track its status within the app. If needed, you can even send reminders to your leads to complete their journey. Once the process is done, your earnings will be credited to your PickMyWork account.

Ready to Start Earning?

And that’s it! With just a few simple steps, you can start earning with PickMyWork. Whether you’re looking for a side hustle or a primary source of income, the platform offers plenty of opportunities to suit your needs. The best part? You’re in full control of when and how you work.

Download the app, explore the projects, and start earning today! Happy Working!

The post How to Start Working on the PickMyWork App appeared first on PickMyWork.

• Eligibility: The SCSS is available to individuals aged 60 years or above. However, individuals aged 55 or older but less than 60 years can also open an account, provided they have retired under superannuation, Voluntary Retirement Scheme (VRS), or special VRS.
• Investment Limits: The scheme allows for a minimum deposit of ₹1,000, with the maximum investment capped at ₹30 lakh. This flexibility ensures that a wide range of retirees can take advantage of the scheme, regardless of their financial situation.
• Interest Rates: As of the current period, the SCSS offers an interest rate of 8.2% per annum. This interest is credited quarterly, ensuring that retirees receive a regular and predictable income. For example, an investment of ₹30 lakh in the scheme would yield a quarterly interest of ₹61,500.
• Tenure and Extension: The SCSS has a tenure of 5 years, which can be extended by an additional 3 years upon maturity. This feature allows retirees to continue earning a steady income well into their later years.
• Premature Withdrawal: While the SCSS is a long-term savings plan, it does offer the flexibility of premature closure under certain conditions, making it a relatively liquid investment for senior citizens.

Tax Benefits

Investing in the SCSS also provides tax benefits under Section 80C of the Income Tax Act, of 1961. Depositors can claim deductions up to ₹1.5 lakh, reducing their taxable income and thereby enhancing the overall returns from the scheme.

Calculation Example

To illustrate the benefits, let’s consider an example where a senior citizen invests ₹30 lakh in the SCSS for 5 years at an interest rate of 8.2% per annum:

• Total Interest Earned: ₹12,30,000
• Quarterly Interest Payout: ₹61,500
• Maturity Amount: ₹42,30,000

This example demonstrates how the SCSS can significantly enhance a retiree’s financial stability, providing both regular income and capital appreciation over time.

How to Open an SCSS Account

Opening an SCSS account is straightforward. It can be done at any post office or a bank authorized by the Reserve Bank of India (RBI) to operate the scheme. The process requires basic documentation such as age proof, retirement proof (if applicable), and identity proof.

The Senior Citizens Savings Scheme is an excellent option for those looking to ensure a steady income after retirement. With its government backing, attractive interest rates, and tax benefits, it stands out as a secure investment vehicle for senior citizens. Whether you are looking to park a lump sum amount safely or seeking regular income, the SCSS is a reliable choice that can help you achieve your financial goals post-retirement.

The post Senior Citizens Savings Scheme (SCSS) appeared first on PickMyWork.

The Lowdown: Can You Do That?

Yes, you absolutely can! Credit cards are fantastic for many things, but sometimes you need cold, hard cash in your bank account. Here’s how you can do it both online and offline, plus some things to watch out for.

Method 1: Transfer Money from Credit Card Online

If you’re a fan of doing things from the comfort of your couch, transferring money from your credit card to your bank account online is the way to go. There are two main ways to do this:

Net Banking:

• Step 1: Log in to your credit card issuer’s website or mobile app.
• Step 2: Head over to the “Transfers” or “Balance Transfers” section.
• Step 3: Choose the bank account you want to send the money to.
• Step 4: Enter the amount you need to transfer.
• Step 5: Review the details and hit confirm!

Heads Up: There’s usually a fee of around 3% to 5% of the transfer amount. Not a bad trade-off for convenience, right?

Phone Call:

• Step 1: Dial up your credit card issuer’s customer service.
• Step 2: Provide your account details and request a balance transfer.
• Step 3: Give them your bank account info and the amount you want to transfer.
• Step 4: Confirm everything with the customer service rep, and you’re good to go!

Method 2: Going Old School (Offline)

Prefer the old-school approach? You can transfer money from credit card offline too, using either cheques or by withdrawing cash from an ATM.

Using Cheques:

• Step 1: Write a cheque to yourself. (Yes, you’re that important!)
• Step 2: In the memo, write something like “Credit Card Balance Transfer.”
• Step 3: Sign it, and drop it off at your bank. Done!

Cash from ATM:

• Step 1: Withdraw cash using your credit card at an ATM.
• Step 2: Take that cash and deposit it into your bank account. Simple!

Remember: ATM withdrawals come with fees too—typically 3% to 5%—and interest starts ticking right away. So, use this option sparingly.

A Quick Example for You

Imagine you need to transfer ₹20,000 from your credit card to your bank account to cover an unexpected medical expense. If your credit card issuer charges a 4% fee for the transfer, you’ll pay ₹800 just in fees. Plus, if your interest rate on cash advances is 24% per annum, that’s an additional ₹400 in interest if you don’t pay it off within the month. So, it’s essential to be aware of the costs before you make the transfer.

Here’s What Different Banks Charge

To give you a better idea of what to expect, here’s a quick comparison of the fees charged by various banks in India for transferring money from a credit card to a bank account:

Note: These fees and rates can vary based on your specific credit card and the bank’s terms. Always check the latest information from your credit card issuer.

Before You Hit That Transfer Button…

Here are some important things to consider before moving money from your credit card to your bank account:

1. Fees: As mentioned earlier, you’re likely to pay a fee between 3% and 5%.
2. Interest: Unlike purchases, interest on transferred amounts starts accumulating immediately.
3. Credit Score: A balance transfer might slightly ding your credit score. Don’t worry, it’ll bounce back, but it’s something to keep in mind.
4. Eligibility: Not all credit cards allow transfers, and there may be limits on how much you can move.
5. Read the Fine Print: Always, always check the terms and conditions!

So, Should You Do It?

Transferring money from your credit card to your bank account can be helpful in a pinch, but it’s not always the best option due to the fees and interest. Consider alternatives like personal loans if you have a larger expense.

And hey, if you’re looking for more ways to manage your finances, why not become a PickMyWork Sales Partner and earn while you’re at it? Work for just 1-2 hours a day and see the cash roll in!

So, what are you waiting for? Download the app and start exploring today!

The post How to Transfer Money from Credit Card to Bank Account? appeared first on PickMyWork.

What is Vehicle Insurance?

Vehicle insurance is a contract between the vehicle owner and an insurance company that provides financial protection against physical damage, bodily injury resulting from traffic collisions, and liability arising from such incidents. It may also offer financial protection against theft, natural disasters, and third-party liabilities.

Types of Vehicle Insurance

1. Third-Party Insurance

Third-party insurance is the most basic form of vehicle insurance required by law. It covers:

• Liability: Damages to a third party’s property or injuries caused by your vehicle.
• Exclusions: Damages to your vehicle and personal injuries are not covered.

2. Comprehensive Insurance

Comprehensive insurance provides broader coverage, including:

• Own Damage: This covers damages to your vehicle due to accidents, theft, fire, and natural disasters.
• Third-Party Liability: Covers third-party damages and injuries.
• Personal Accident Cover: Includes coverage for the driver’s injuries or death.
• Exclusions: Regular wear and tear, mechanical or electrical breakdowns, and driving under the influence.

3. Collision Insurance

Collision insurance covers:

• Accidents: Damages to your vehicle resulting from collisions with another vehicle or object.
• Exclusions: Does not cover theft, vandalism, or natural disasters.

4. Uninsured/Underinsured Motorist Insurance

This type of insurance protects you if:

• Accidents: You are involved in an accident with an uninsured or underinsured driver.
• Exclusions: Regular damages or injuries not involving uninsured drivers.

Factors Affecting Vehicle Insurance Premiums

Benefits of Vehicle Insurance

1. Financial Protection: Covers repair costs and medical expenses.
2. Legal Requirement: Meets the legal requirement for operating a vehicle.
3. Peace of Mind: Reduces stress by providing a safety net against unforeseen events.
4. No-Claim Bonus (NCB): Rewards drivers for not making claims with discounted premiums.

How to Choose the Right Vehicle Insurance

1. Assess Your Needs

• Determine the level of coverage you need based on your vehicle’s value and your financial situation.

2. Compare Policies

• Use online comparison tools to evaluate different insurance providers and their offerings.

3. Check the Insurer’s Reputation

• Research the insurance company’s claim settlement ratio and customer service reviews.

4. Understand the Policy

• Read the policy document carefully to understand the inclusions, exclusions, and terms.

5. Look for Add-Ons

• Consider add-ons like zero depreciation, roadside assistance, and engine protection for enhanced coverage.

Common Add-Ons for Vehicle Insurance

Claim Process for Vehicle Insurance

1. Inform the Insurer: Notify your insurance company immediately after the incident.
2. Document the Damage: Take photographs of the damage and collect evidence like police reports if applicable.
3. Submit a Claim: Fill out the claim form and submit it along with the required documents.
4. Inspection: An insurance surveyor will inspect the vehicle to assess the damage.
5. Approval and Repair: Once approved, the vehicle will be repaired, and the insurer will settle the claim as per the policy terms.

Common Mistakes to Avoid

• Not Reading the Fine Print: Always read and understand the policy terms and conditions.
• Underinsuring: Avoid opting for minimum coverage to save on premiums as it may result in significant out-of-pocket expenses.
• Not Disclosing Accurate Information: Providing false information can lead to claim rejections.
• Ignoring Add-Ons: Consider relevant add-ons for comprehensive protection.

ACKO Bike Insurance

1. Low Premiums: Plans start at ₹457*.
2. Third-Party Liability: Covers damages to others.
3. Own Damage Cover: Available with comprehensive plans.
4. No Claim Bonus (NCB): Up to 50% discount for 5 claim-free years.
5. Personal Accident Cover: Up to ₹15 lakhs for disability/death.
6. Instant Claim Settlements: Within 2 hours for minor damages.
7. Cashless Repairs: Available at network garages.
8. Paperless Experience: Buy and renew policies online.

ACKO Car Insurance

1. Low Premiums: Starting at ₹2,094*.
2. Comprehensive Coverage: Includes third-party liability and own damage.
3. Zero Depreciation: Covers 100% of car part costs during repairs.
4. Stress-Free Claims: Free pickup and drop, claim tracking.
5. Instant Claim Settlement: Swift settlement for both minor and major claims.
6. 24×7 Support: Assistance is available anytime.
7. Paperless Process: No physical forms or documents are required.
8. Easy Renewal: Quick online process for continuous coverage.

Click here to apply for ACKO Insurance and earn money with us.

Vehicle insurance is an essential aspect of responsible vehicle ownership. By understanding the different types of coverage, factors affecting premiums, and the claims process, you can make informed decisions to protect your vehicle and financial well-being. Always compare policies, read the fine print, and choose the coverage that best suits your needs.

The post The Ultimate Guide to Vehicle Insurance appeared first on PickMyWork.

Before diving Is PickMyWork Real or Fake? Let’s embark on a fact-finding mission, filtering through the layers of hype and concerns to uncover the truth.

By the end of this blog, you’ll be equipped with the knowledge and insights necessary to make an informed decision about PickMyWork – a decision that could significantly impact your financial future.

So, buckle up, grab your lenses, and prepare to delve into the intriguing mystery of PickMyWork: Real Or Fake?

PickMyWork And Its Services

As one of the most reliable mobile fintech platforms, we allow our users to make money online selling financial products. Anyone can get the app and sign up as a sales partner. With over 1 Mn sales partners and 50+ financial institutions as clients, PickMyWork allows you to sell more than 100+ financial products.

Founded in 2019, we established to bridge the gap in financial inclusion in underserved markets. The company focuses on face-to-face interaction, handholding by agents, and after-sales support to ensure a smooth experience for both partners and customers.

PickMyWork isn’t just an app; it’s your doorway to financial freedom. No investment is needed, just your smartphone and a knack for selling. You can earn like a pro, right from your phone. And not just this, if you are confused about selling financial products, the training videos guide you every step of the way.

If you sign up as our Sales Partner, you will be eligible to sell financial products like credit cards, personal loans, savings accounts, demat accounts, etc.

PickMyWork also has one reward program for its sales partners called:

• Refer and Earn

Refer and Earn

The refer and earn program lets you earn money by referring the PickMyWork App to your friends and relatives. When a user clicks on your referral link and sells a financial product using the PickMyWork app, you will get 10% of their earnings up to ₹500 (per friend referred)

Apart from selling products, these are some additional ways through which PickMyWork helps its partners earn more.

Benefits Of Becoming Our Sales Partner

We have the best payout structure in the market and provide high earnings. As our Sales Partner, you don’t just earn money, but you can earn a lot of money.

But is it too good to be true? Are PickMyWork’s claims as solid as its user numbers? Let’s look at some testimonials and stories of our Sales Partners:

PickMyWork Partner: Suneel

Discover how Suneel manages to balance his full-time job with his PickMyWork responsibilities and hear about the strategies he employs to maximize his income. He also opens up about the challenges he faced and overcame to reach this milestone.

PickMyWork Partner: Vijendra

In this exciting first episode, we feature Vijendra, one of our highest-earning partners who has made an impressive income of over ₹1.50 lacs in one month.

PickMyWork Partner: Prince Gupta

A newbie partner shares his exciting journey and experiences. In this exclusive interview, Prince sits down with Vidyarthi, the CEO of PickMyWork, to discuss how the app has transformed his approach to earning and managing tasks.

PickMyWork Partner: Giriraj Singh

Discover Giriraj Singh’s inspiring journey from newcomer to top-earning partner! Learn about his dedication, hard work, and remarkable achievements. From managing ‘Tide’ projects to earning ₹84k+, his story is truly motivating. Hear about his experiences with merchandise and customer onboarding, and find out why he recommends our platform.

We Raised Series A Fund Of $1 Million

In September 2022, we secured $1 million (approximately ₹8 crore) in funding and plans to expand the team, partnerships, and product offerings. The company aims to make financial services more accessible and profitable for all.

The news of PickMyWork’s funding was covered by leading publications like The Economic Times, Inc42, YourStory, Business Standard, and more.

Financial Impact on PickMyWork Jobholders

According to the PickMyWork Impact Report (December 2022), the platform has significantly improved the financial stability of its partners. The report, created by Upaya Social Ventures, surveyed 189 jobholders and highlighted the following:

• Income and Savings: 76% of jobholders have an active bank account, and 49% save regularly, averaging INR 4513 ($60) monthly.
• Debt Management: 94% of jobholders reported paying their loans, with an average debt amount of INR 93,970 ($1,253).
• Skill Development: 33% of jobholders stated they learned new skills, such as public speaking (66%), technical knowledge (23%), and increased self-confidence (11%).

PickMyWork stands out as a legitimate platform with a proven track record of empowering its partners to achieve financial independence. With its robust support system, high commission payouts, and commitment to financial inclusion, PickMyWork is a promising avenue for financial growth.

In India, a small portion of the sales workforce is female. In contrast, the PickMyWork platform boasts a higher representation of women among our sales partners. This strong support fuels their growth and success, driving positive change and promoting gender equality in the business landscape. This highlights our dedication to fostering a more inclusive and supportive environment for women in sales.

So, if you’re ready to embark on your journey to financial freedom, download the App today and start earning like never before!

Download the PickMyWork App!

By the end of this blog, you should clearly understand the opportunities and potential that PickMyWork offers. Make an informed decision and take the first step towards a financially secure future with PickMyWork.

For more information and to read detailed reviews, check out these additional resources:

• How To Earn Money From Home: Become A PickMyWork Partner
• Selling Credit Cards: PickMyWork Partner’s Guide

The post Is PickMyWork Real? appeared first on PickMyWork.

Understanding NIL Return

A NIL return is essentially an income tax return filed by individuals who have no taxable income or financial activity to report for a particular period. It serves as a declaration to the Income Tax Department that you have no tax liability for the financial year.

Why File a NIL Return?

1. Proof of Income

Filing an ITR, even when you have no taxable income, serves as an official record of your financial status. This documentation can be crucial when applying for loans, visas, or any financial transaction that requires proof of income.

You might be a student who wants to apply for a visa to study abroad. Even without taxable income, filing an ITR provides a record of your financial history, which can facilitate a smoother visa application process.

2. Claiming Tax Refunds

If you have paid taxes through Tax Deducted at Source (TDS) or advance tax, filing an ITR is necessary to claim a refund. Sometimes, even if your total income is below the taxable limit, you might have paid more taxes than required. Filing an ITR ensures you can claim this excess amount back.

Suppose you earned ₹2 lakh from a part-time job and the employer deducted TDS. Filing an ITR allows you to claim this deducted tax back since your total income is below the taxable threshold.

3. Carrying Forward Losses

If you have incurred losses in a particular financial year, such as capital losses from investments, filing an ITR allows you to carry forward these losses to future years. These losses can be adjusted against future gains, potentially reducing your tax liability in subsequent years.

If you invested in stocks and incurred a loss of ₹50k, filing an ITR enables you to carry forward this loss. This can then be offset against any capital gains you may earn in the next financial year, thereby reducing your taxable income.

4. Compliance with Threshold Requirements

Here are certain financial actions that require you to file an Income Tax Return (ITR), irrespective of your income level:

– Depositing over ₹1 crore in a bank account

– Paying electricity bills totalling more than ₹1 lakh

If you travelled abroad and spent ₹3 lakh, you need to file an ITR to comply with tax regulations, even if your income is below the taxable limit.

5. Eligibility for Government Schemes and Benefits

Some government schemes, scholarships, and subsidies may require proof of filed ITRs as part of their eligibility criteria. Filing an ITR ensures you do not miss out on these benefits.

Applying for a government scholarship might require your past ITRs to verify your financial status, making you eligible for the aid.

6. Avoiding Penalties and Legal Consequences

Even if there is no tax liability, failing to file a required tax return can attract penalties and legal consequences in some jurisdictions. By filing a NIL return, you fulfil your compliance obligations and minimize the risk of penalties.

Failing to file an ITR, even with no taxable income, could lead to a penalty of ₹1,000. Filing a NIL return keeps you on the right side of the law.

Raj’s Journey with NIL Returns

Raj, a sales gig worker, earns a modest income. In the financial year 2023-24, his total income was ₹4.3 lakh, below the taxable limit. Raj had the following scenarios where filing a NIL return benefitted him:

1. Loan Application: Raj applied for a home loan. The bank required proof of income, and his filed ITR served as a credible document, helping him secure the loan.
2. Claiming Refund: Raj’s TDS might have been deducted by the bank while he got his payment. By filing the ITR he can claim that amount for a refund.
3. Government Scholarship: Raj’s sister applied for a scholarship, and Raj’s ITRs were used to prove the family’s financial situation, ensuring eligibility for the scholarship.

Filing an ITR, even if you have no income tax liability, is a prudent practice that offers numerous benefits. It helps maintain comprehensive financial records, facilitates claiming tax refunds, allows carrying forward of losses, ensures compliance with tax regulations, and supports eligibility for various financial benefits and schemes.

FAQs

1. Do I need to file an ITR if I have no taxable income?
   Yes, it is advisable to file an ITR even if you have no income tax liability for documentation, claiming refunds, carrying forward losses, and ensuring compliance with tax laws.

2. What is a NIL return?
   A NIL return is an income tax return filed to declare that you have no taxable income for a particular financial year.

3. Can I claim a tax refund if I file the NIL return?
   Yes, if you have paid more in taxes than required through TDS or advance tax, you can claim a refund by filing an ITR.

4. Are there penalties for not filing an ITR when I have no tax liability?
   Failing to file a required tax return, even with no tax liability, can attract penalties and legal consequences in some jurisdictions. Like, depositing over ₹1 crore in a bank account, paying electricity bills totalling more than ₹1 lakh or travelling abroad and spending more than ₹2 lakh.

By understanding and leveraging the benefits of filing an ITR, you can ensure better financial management and compliance with tax regulations.

Filing Income Tax Return (ITR) for the First-Time?

File an ITR.

The post What is a NIL Return and Why You Should It? appeared first on PickMyWork.

UPI Transactions Explained

Through Bank Account:

Unified Payments Interface (UPI) allows you to link your bank account directly to the UPI app. This enables seamless transactions without the need for a wallet. You can transfer money directly from your bank account using the recipient’s UPI ID or bank details. This method is secure and eliminates the need to maintain a separate wallet balance.

Through Phone Number:

UPI also supports money transfers using mobile numbers. If the recipient’s phone number is linked to their UPI ID, you can transfer money by simply entering their mobile number. This feature is incredibly convenient for quick transfers to friends and family.

Through QR Code:

QR code payments are another popular feature of UPI apps. By scanning the recipient’s QR code, you can instantly transfer money without the need to enter their details. This is widely used for merchant payments and peer-to-peer transfers, offering a quick and hassle-free payment experience.

Through RuPay Credit Cards:

Recently, UPI has extended its support to RuPay credit cards. This means you can now link your RuPay credit card to your UPI app and use it for transactions just like a debit card. This provides the added benefit of utilizing your credit limit for UPI transactions, making it a versatile option for users.

Money transfer apps have significantly simplified the process of sending and receiving money in India. From paying bills to transferring funds across borders, these apps offer a variety of features to meet your needs. Remember to choose an app that best fits your requirements and always stay cautious to avoid scams. With the digital era in full swing, these apps are set to become even more integral to our daily lives.

Here’s a comprehensive guide to the top 20 money transfer apps in India, complete with their key features and Play Store ratings.

Google Pay

**Play Store Rating: 4.3**

– **Key Features:**

  – Contactless payments

  – Online and in-app purchases

  – Cash transfers to friends and family

  – Group contributions and bill splitting

  – Public transportation payments

BHIM

**Play Store Rating: 4.6**

– **Key Features:**

  – Quick QR code scan and pay

  – Save beneficiaries for quick access

  – Detailed transaction history

  – Create, change, or reset UPI PIN

UltraCash

**Play Store Rating: 4.1**

– **Key Features:**

  – No need for cash, card, or wallet

  – Quick and easy transactions

  – Offers credit, loyalties, and discounts

  – Pay bills and recharge mobile numbers

  – Supports major cards and banks

PhonePe

**Play Store Rating: 4.4**

– **Key Features:**

  – User-friendly interface

  – Easy QR code payments and fund transfers

  – Quick bill payments and mobile recharges

  – Autopay options for bills

  – Rewards and cashback offers

Paytm

**Play Store Rating: 4.6**

– **Key Features:**

  – Easy wallet setup

  – Quick mobile recharge and bill payment

  – QR code payments and fund transfers

  – Financial investment options

  – Movie and travel ticket bookings

BHIM Axis Pay

**Play Store Rating: 4.1**

– **Key Features:**

  – Account number and QR code scan payments

  – Send and collect money via virtual payment ID

  – Mobile number-based transfers

  – Easy-to-use interface

PayPal

**Play Store Rating: 3.8**

– **Key Features:**

  – User-friendly interface

  – Global transactions

  – PayPal Buyer Protection

  – Supports multiple currencies

  – Cloud integration

Amazon Pay

**Play Store Rating: 4.1**

– **Key Features:**

  – Real-time transactions

  – Easy-to-understand interface

  – Amazon Pay Later for instalment payments

  – Wallet to bank account transfers

Mobikwik

**Play Store Rating: 4.3**

– **Key Features:**

  – Quick cash transfers

  – Online shopping features

  – Rapid mobile recharge

  – Exciting offers

  – Hassle-free cash pickups and deposits

Freecharge

**Play Store Rating: 4.3**

– **Key Features:**

  – Hassle-free money transfers

  – Easy cheque submission

  – Secure payments powered by Axis Bank

  – Simple UPI account setup

PayUMoney

**Play Store Rating: 3.1**

– **Key Features:**

  – Easy recurring payment setup

  – International payments

  – Same-day settlements

  – Quick and accessible customer service

Yono (By SBI)

**Play Store Rating: 4.2**

– **Key Features:**

  – Auto-population of beneficiary information

  – Seamless beneficiary registration and fund transfers

  – Clever search tool for recipient IFSC codes

BHIM SBI Pay

**Play Store Rating: 4.3**

– **Key Features:**

  – Quick cash transfers

  – User-friendly interface

  – QR scan options

Pockets

**Play Store Rating: 3.6**

– **Key Features:**

  – Easy wallet creation

  – Shop anywhere with VISA

  – Instant money transfers

  – Attractive deals

  – Quick customer service

Payzapp

**Play Store Rating: 4.1**

– **Key Features:**

  – QR scan transfers

  – Easy interface

  – Hassle-free money transfers

Airtel Thanks

**Play Store Rating: 4.3**

– **Key Features:**

  – Instant bill settlements

  – Quick money transfers

  – Multiple offers

  – Fast customer service

Ola Money

**Play Store Rating: 2.5**

– **Key Features:**

  – Seamless money transfers

  – Pay for anything online

  – Safe transactions

MyJio

**Play Store Rating: 4.3**

– **Key Features:**

  – Daily payments online

  – Aadhaar-based banking facilities

  – Quick transactions

WhatsApp Pay

**Play Store Rating: 4.1**

– **Key Features:**

  – Simple setup for fast transfers

  – All transaction details in one place

  – Direct bank transfers

BHIM Yes Pay

**Play Store Rating: 3.2**

– **Key Features:**

  – Instant mobile recharge and bill payments

  – Vouchers for purchases

  – Instant fund transfers

FAQs on Money Transfer Apps

1. Are money transfer apps safe?

Most money transfer apps are secure and have built-in safety measures. However, users should always verify the recipient’s details and use security features like pins, fingerprint identification, and two-factor authentication to protect themselves from fraud.

2. Is Google Pay safe?

Yes, Google Pay protects your payment information by not sharing your actual credit card number with merchants, keeping your payment details secure.

3. How do I choose the best money transfer app for my needs?

Consider factors such as transaction fees, transfer speed, security features, user interface, and customer reviews when choosing a money transfer app. It’s also important to check if the app supports the type of transaction you need, such as international transfers or bill payments.

4. Can I use money transfer apps for international transactions?

Many money transfer apps, such as PayPal, Western Union, and Paysend, support international transactions. Always check the app’s features and fees for international transfers before using it.

5. What should I do if I encounter an issue with a money transfer app?

Contact the app’s customer service for assistance if you encounter any issues. Most apps offer support through in-app chat, email, or phone. It’s also a good idea to check the app’s help centre or FAQ section for common issues and solutions.

The post Top 20 Best Money Transfer Apps in India appeared first on PickMyWork.

1. Understand the Market to Sell Credit Cards

Did you know that over 60% of Indians still prefer using cash for their transactions? Yet, the credit card market is growing at a rapid pace, with more than 50 million active credit cards in India.

To get higher conversions, let’s start with understanding the market. Who are your potential customers? What are their needs and preferences? For instance, millennials (age group 28-43 years) might prefer cards with travel rewards, while baby boomers might look for low interest rates.

2. Know Your Product

According to a study by TransUnion CIBIL, customers are 40% more likely to purchase a credit card if the salesperson is knowledgeable about the product.

Get to know the credit cards you’re selling inside out.

Rahul, a PickMyWork sales partner, who sells credit cards, always refers to the PickMyWork App for a cheat sheet of the latest offers and benefits of various credit cards. This allows him to quickly reference and highlight the most relevant features to his customers.

3. Master the Art of Communication

The attention span in today’s digital age is just 7 seconds. Your customer will decide in 7 seconds to go ahead with you or not.

First impressions matter. Start your conversation with a warm greeting and a confident introduction. Use open-ended questions to understand the customer’s needs. For example, ask, “What kind of spends you usually do daily?”

4. Use Real-Life Examples to Sell Credit Cards

Storytelling can boost your sales by up to 20%! People relate more to stories than to plain facts and figures.

Share success stories and real-life examples to build credibility.

“An individual has amassed enough rewards to embark on globe-trotting adventures without spending a single penny on flight tickets or hotel stays. He is Kashif Ansari, 29, gearing up for an exhilarating two-month world tour this year-end.”

“Yet another is Ankush Dixit, 33. Over time, he has snagged 15 business class flight tickets between Delhi and Dublin (Ireland) for his trips with family almost completely for free.”

For instance, mention different banks and how a customer saved thousands using a specific credit card’s rewards program.

5. Leverage Technology

70% of salespeople who use software report higher productivity.

Using apps like PickMyWork can help you recommend the right card and simplify the application process for your customers. 

6. Follow-Up Effectively

80% of sales typically need five follow-up calls after the initial meeting. However, 44% of salespeople stop after just one follow-up.

Persistence is key. Schedule follow-ups to address any questions or concerns your prospects might have. A brief follow-up message like, “Hello [Customer], I wanted to check if you have any further questions about the XYZ Credit Card,” or “XYZ is running a great offer for this month, might be the best time to get it” can be very effective.

Steps for Effective Follow-Up:

1. Prompt: Reach out within one to two days following the initial interaction.
2. Personalized: Refer to your previous conversation to show you remember their needs.
3. Value-Added: Provide additional information or benefits that might interest them.

By following these steps and incorporating quirky facts and real-life examples, you’ll not only meet but also exceed your sales targets. Remember, persistence and personalization are your best friends in this journey.

Ready to 10x your results? Download the PickMyWork app today and start your journey to becoming a top credit card sales professional!

Happy selling!

The post Sell Credit Cards Like a Pro for 10x Results appeared first on PickMyWork.

1. Understand Your Eligibility for Income Tax Return (ITR)

Firstly, determine if you are required to file an Income Tax Return (ITR):

• Individuals below 60 years: Annual income of ₹2.5 lakhs or more.
• Senior citizens (60-80 years): Annual income of ₹3 lakhs or more.
• Super senior citizens (above 80 years): Annual income of ₹5 lakhs or more.
• Other Scenarios:
  • Individuals with income from salary, rent, business, profession, or investments.
  • Those claiming a refund from the Income Tax Department.
  • People applying for loans or visas.

2. Gather the Necessary Documents

Collect all the necessary documents to ensure a smooth filing process:

• Personal Documents:
  • PAN card
  • Aadhaar card
  • Details of domestic and foreign assets and liabilities
• Income-related Documents:
  • Form 16 (TDS certificate from employer)
  • Form 16A/16B (TDS certificate from other sources)
  • Details of exempt income earned during the year
• Bank-related Documents:
  • Bank statements
  • Interest statement of the year
  • Details of all bank accounts held during the year (IFSC code, account number, etc.)
• Tax-related Documents:
  • Copy of last year’s tax return
  • TDS certificates
  • Form 26AS (tax credit statement)
• Real Estate Documents:
  • Buyer agreement, sale deed, investment documents for capital gains
  • Lease deed for rental income
• Investment and Expense Documents:
  • Home loan statement for deduction on principal and interest
  • Mutual funds account statement
  • Premium receipts for life and medical insurance
  • Proof of donation for claiming deductions

3. Create an Income Tax Return (ITR) E-filing Account

• Visit the Income Tax Department’s e-filing portal: [Income Tax E-filing]
• Register using your PAN (this will serve as your user ID).
• Provide the necessary details and create a password.

4. Select the Appropriate ITR Form

Choosing the correct ITR form is crucial:

• ITR-1 (Sahaj): For individuals with income up to ₹50 lakhs from salary, one house property, other sources (interest, dividend), and agricultural income up to ₹5,000.
• ITR-2: For individuals and HUFs not having income from business or profession.
• ITR-3: For individuals and HUFs having income from profits and gains of business or profession.
• ITR-4 (Sugam): For individuals, HUFs, and firms (other than LLP) being a resident having total income up to ₹50 lakhs and income from business and profession computed under sections 44AD, 44ADA, or 44AE.
• ITR-5, ITR-6, and ITR-7: For other entities like firms, LLPs, companies, and entities claiming exemptions under various sections.

5. Download and Fill the ITR Form

• Log in to your e-filing account.
• Download the appropriate ITR form or the Common Offline Utility from the portal.
• Fill in the required details carefully:
  • Personal information (name, PAN, Aadhaar, address, etc.)
  • Income details (salary, house property, capital gains, other sources)
  • Deductions and exemptions (under sections like 80C, 80D, etc.)
  • Tax payments (TDS, advance tax, self-assessment tax)

6. Verify Details in Form 26AS and AIS

• Form 26AS: Contains details of TDS, TCS, advance tax, self-assessment tax, and refunds.
• Annual Information Statement (AIS): Contains detailed information about various financial transactions, like property purchases, share transactions, bank interest, etc.
• Ensure all income details match the information in Form 26AS and AIS to avoid discrepancies.

7. Calculate Your Tax Liability

• Use the [Income Tax Calculator] available on the portal to compute your taxable income.
• Consider all eligible deductions and exemptions to reduce your tax liability.
• Verify your tax calculations with the tax computed by the portal.

8. Upload the ITR

• Convert your filled form into JSON format using the utility tool provided on the e-filing portal.
• Log in to the e-filing portal, and go to ‘e-file’ > ‘Income Tax Return’.
• Select the appropriate assessment year and upload the JSON file.

9. Verify Your ITR

Verification is mandatory and can be done within 120 days of filing. You will need:

• Aadhaar OTP
• Net banking
• Digital Signature Certificate (DSC)
• Offline by sending a signed ITR-V form to the Central Processing Center, Bengaluru.

10. Keep Track of Refunds and Notices

• After filing, regularly check the status of your return and any refunds due.
• Respond promptly to any notices or requests for additional information from the Income Tax Department to avoid penalties.

Tips for a Smooth ITR Filing Process

• Check Form 16 and Form 16A/16B: Ensure all exempt allowances and deductions are correctly mentioned and your PAN is correctly stated.
• Review Form 26AS and AIS: Cross-check all financial transactions and TDS details to avoid discrepancies.
• Maintain Records: Keep a file of all documents and returns for future reference.
• Seek Professional Help: If you are unsure about any details or processes, consult a Chartered Accountant or tax professional.

Use Online Tax Filing Platforms

If you feel overwhelmed by the process of filing your Income Tax Return (ITR), consider using online tax filing platforms for guided assistance and easier filing. These platforms offer user-friendly interfaces and step-by-step guidance to help you complete your ITR accurately and efficiently. Here are some popular options:

1. ClearTax:It provides a simple and intuitive platform for filing ITR. It offers personalized assistance, auto-import of Form 16, and automatic calculation of deductions and exemptions. ClearTax also provides a dedicated help centre and customer support to assist you with any queries.
2. TaxSmile:It offers comprehensive solutions for individual and business tax filing. The platform ensures secure and accurate tax return filing with features like data import from Form 26AS, personalized tax advice, and support for multiple income sources.
3. myITreturn:It simplifies the tax filing process by providing step-by-step guidance, automatic data import, and error-checking. The platform also offers a mobile app for convenient filing on the go, and customer support is available for any assistance required.

How to Use These Platforms:

1. Register: Sign up on the chosen platform using your email or mobile number.
2. Upload Documents: Upload necessary documents like Form 16, Form 26AS, and bank statements.
3. Fill in Details: Enter your personal, income, and deduction details as prompted by the platform.
4. Review and Verify: Review the automatically calculated tax details and verify all information.
5. File Your Return: Submit your ITR through the platform. Most platforms also offer e-verification options to complete the process.

Advantages of Using Online Tax Filing Platforms:

• Time-Saving: These platforms automate many steps, saving you time and effort.
• Accuracy: Built-in error-checking ensures your ITR is accurate and complete.
• Support: Access to professional help and customer support for any queries.
• Convenience: File your ITR from the comfort of your home, at any time.

By using these online tax filing platforms, you can simplify the ITR filing process, ensure accuracy, and avoid common mistakes. This can be especially helpful for first-time filers or those with complex income sources and deductions.

Important Deadlines

• For non-audit cases: July 31, 2024
• For audit cases: October 31, 2024
• For those required to furnish a report under section 92E: November 30, 2024

By following these detailed steps and ensuring the accuracy of your information, you can file your ITR confidently and avoid any penalties. This comprehensive approach will help you understand the process better and make your first-time ITR filing experience smooth and hassle-free.

Note: Add a Nominee by June 30 to Your Demat and MF Accounts

The post Filing Income Tax Return (ITR) for the First-Time? appeared first on PickMyWork.

Why Choose Savings?

Savings provide a safety net for emergencies and short-term financial goals. They are typically low-risk and offer guaranteed returns. Common savings options include:

• Savings Bank Accounts: Provide easy access to funds with minimal risk. Interest rates vary between 3-4%.
• Fixed Deposits (FDs): Offer higher interest rates than savings accounts, ranging from 5-7%, with a fixed tenure.
• Recurring Deposits (RDs): Allow regular monthly savings with fixed interest rates.

Here’s a comparison of interest rates and potential growth in savings accounts from leading banks:

Why Choose Investments?

Investments are aimed at wealth creation over the long term. They involve higher risk but also offer the potential for higher returns. Popular investment options include:

• Stocks: Ownership in companies, providing dividends and capital gains.
• Mutual Funds: Diversified investment in stocks, bonds, and other securities.
• Real Estate: Property investment, offering rental income and capital appreciation.
• Gold and Commodities: Traditional investments are known for preserving value.
• Cryptocurrency: Digital currencies that offer high returns but come with high volatility.
• Provident Fund (EPF/PPF): Long-term saving schemes with tax benefits.
• Corporate and Government Securities: Bonds and debentures issued by corporations and the government.

Comparing Savings and Investments

Here’s a table comparing various savings and investment options in terms of risk, returns, and liquidity:

Growth Potential of SIPs

Investing in mutual funds through Systematic Investment Plans (SIPs) is a popular way to build wealth over time. SIPs allow investors to invest a fixed amount regularly, benefiting from rupee cost averaging and compounding.

Here’s a comparison of how money can grow with SIPs on different platforms:

Try more here: https://www.pickmywork.com/demat-account/

Post-Pandemic Financial Behavior in India

The COVID-19 pandemic has significantly altered the savings and investment landscape in India.

• Savings Bank Accounts: 77% of people prefer this for liquidity and safety.
• Mutual Fund SIPs: Chosen by 54% for higher returns.
• Fixed Deposits: Opted by 53% for guaranteed returns.

The pandemic has also driven a shift in financial behaviours:

• Increased Investments: Close to 70% of Indians have increased their savings and investments post-pandemic.
• Shift to Digital Platforms: There’s a rise in digital channels for banking and investing, with UPI and e-wallets seeing significant adoption.

The Rise of Retail Investors

The number of retail investors in the stock market has surged significantly post-pandemic. The number of active Demat account holders rose to 11 crores by January 2023 from 8.4 crores in 2022. Despite this growth, only about 3% of Indian households actively invest in the stock market, compared to 55% in the USA and 33% in the UK.

Several factors contributed to this trend:

• Lower Interest Rates: The low repo rate made it difficult for banks to offer higher interest on fixed deposits.
• Increased Disposable Income: Salaried individuals had more disposable income due to reduced spending opportunities during the lockdown.
• Digital Adoption: More investors turned to online platforms for trading and investment.

Both savings and investments are crucial for a balanced financial plan. Savings ensure liquidity and safety, while investments offer the potential for higher returns. By understanding the different instruments available and aligning them with your financial goals, you can achieve financial security and growth.

The post Savings and Investments: A Comprehensive Guide for Indians appeared first on PickMyWork.