RupeeX - Online personal investment management solution

RupeeX is an online investment management solution targeted towards Indian consumer's personal financial management needs. With RupeeX you can manage your investments in various areas like equity, IPO, mutual funds, derivatives, fixed income, real estate etc. You can create a portfolio for each of these investment categories online or can upload an existing excel sheet to import data automatically. In addition it also provides you with an online Tax filing module. The details can be submitted online and you can take a print out of forms ITR1 or ITR2. This feature is currently free as part of introductory offering. RupeeX also provides a number of utilities which makes it a powerful online collaborative tool. You can create accounts for other users like your family members who can mange their finances. In turn you can monitor the overall accounts of each user. Also, you can give access to your CA or Tax Consultant to review your investments online without creating a separate document. There is a provision for setting up alerts and reminders which come handy in tracking the progress of your investments. RupeeX finds its place in Economic Times online tax filing feature. A very cool marketing strategy!. You also have RupeeX toolbar which can be used to avail its features on the fly. Though this tool does not provides features to track of the overall cash flows for an average consumer. In that sense, i would say it is a half-baked solution. Today the need of the consumer market is to provide a single view of overall personal financial management which can help him manage his finances better. Companies like Intuit are a good example of what needs to be done to fill such gaps !

paisawaisa - a personal financial services web site

paisawaisa.com claims to be a one stop shop for meeting all your financial needs. It offers consumers with the option to compare products from different financial companies related to loans, credit cards, banking, insurance, real estate and e-tax filing. assistance is provided through video or chat text which makes interaction easier and fast. In this blog I would specifically like to cover e-Tax filing. The site offers this facility to individuals, corporates and tax consultants with different features and price points. For a consumer the package is priced at Rs199, for employers 50 returns can be filed at Rs2499/ while tax consultants can avail it at Rs2999. As part of ongoing promotion you can file your tax returns free of cost till 31st July 2008. As compared to other sites like TaxShax and Taxsmile, it is lagging behind in features as well as usability. However, the overall look and feel of the web site is quite appealing and has the required stickiness to attract customers. The process offers two options: Complete your forms online, take a print out and file it manually at your Income Tax office. The second one allows you to submit your return online. However, there is no direct integration of this web site with income tax official site. You will be required to fill the form, generate XML through web site. Download the generated XML and visit Income Tax web site where you need to upload the XML and get the receipt(its called FORM V). You will be required to submit the receipt to the income tax office in your jurisdiction. Overall the site is an aid to income tax filing but does not completely eliminate the hassles of dealing with Income Tax manual processes.

Taxspanner.com - file your tax returns online

Taxspanner is an online income tax filing web site which offers its services in two basic forms - Self Service and Advanced assisted Service. The process of filing returns is simple and straightforward. You have the option to start off without registering with the web site to begin with. The self-driven wizard guides you through the entire flow. You are required to fill your personal details and income related information. The Site provides you an online Form 16 which needs to be filled and submitted. Once you have completed all your details the web site requires you to make an online payment. Once you have made your payment you can download and print your return and deposit it to your nearest Income Tax office or you can use the e-filing service offered by Taxspanner via MTNL to submit your returns directly to IT department. The pricing varies based on the type of service you want to avail. For self service option you are charged with 249 while advanced assisted service costs you Rs449. For e-filing it offers digital certificate signing service for Rs749 which may save you an extra visit to IT office. To promote itself it has tied up with icicibank and offers discounts to icici netbaking users. In addition it offers paid referrals schemes which allows a user to ear Rs50 per signed up paying referred user. The services are directed to consumers and has an extension for corporates too. Unlike other sites in this space, it does not have value added features for corporates or have any separate support for tax consultants which in itself constitutes a big market.

On the pricing front, I believe it is a pretty reasonable offering. However, it still needs to improve upon its usability as compared to other sites like taxshax.com. In order to be competitive and to scale up business it should definitely consider going retail through a franchisee network which should not be an expensive arrangement. This would definitely increase its reach and would give an edge over its competitors in this space.

Taxsmile - Your online tax consultant

Taxsmile is an online tax filing initiative from 3i Infotech, a global player in the BFSI space. It offers e-filing services to individuals, corporates, tax consultants and NRIs. For consumers it is a boon since they do not have to go through the hassle of filling paper documents without any knowledge on the tax laws. Taxsmile offers services in three modes:
1. File Yourself: Allows the user to fill the application online without any assistance. Tariff is Rs250/-
2. File with an expert: Allows the user to submit the data online and request for review by a tax expert. Tariff is Rs 400/-
3. File through taxsmile: Drop your documents to a Taxsmile retail outlet and allow it to file return on its behalf. Tariff is Rs 750/-

Taxsmile gives you the flexibility to e-file the return through them rather than uploading the document to government income tax site all by yourself.
It offers a host of services to corporate employees like automated generation of Form16, online processing of PAN cards, tax preparation consultancy etc. It offers similar features to Tax consultants but is geared towards increasing their overall efficiency by automating various tasks.
I believe the biggest advantage is to NRIs staying outside India. The web site offers cool features to help them file their return from a distant country.

Overall I must say its a great web site offering services at an affordable price in a price sensitive Indian market.

Taxshax - online income tax returns

Taxshax is one amongst the various online tax filing sites that is making its presence felt in the Indian consumer market. I took the opportunity to give it a try and was pleasantly surprised to see how simple it was to go through the entire process of creating a tax return document. The process is wizard driven which can be easily followed by an average user without the usage of any financial technical terms. Here is a summary of the steps needed to create your tax returns:

1. Register yourself on the taxshax.com

2. Follow the tax return creation wizard. The wizard asks simple questions in plain english which are a no brainer and can be answered very easily if you have all the information available with you.

3. Complete the wizard with all the relevant details. Towards the end the wizard will prompt you to enter your PAN number.

4. Enter the PAN number and buy the appropriate package for filing return. It currently offers three choices - Basic (Rs181), Silver(Rs 4) and Gold(Rs524) depending upon your income filing requirements.

5. Once you buy the package, you have the choice to either print the prepared return form which can be submitted to Income Tax Department or you can download the XML and upload it directly to income tax web site.

Taxshax also offers services to Tax Consultants and Employers who can use its online features to service its customers / employees to make life easier for everyone. I would strongly recommend readers to have an online experience of filing your tax returns. It is really cool!

equitymaster.com - Your Guide to Indian Stock Market

equitymaster.com is a web site truly focused on on Indian Stock market. It provides in-depth research services covering all kind of funds ranging from large cap, mid cap to small cap. It gives recommendation on buying and selling stocks across various sectors which for a regular investor is a boon and comes out handy. In addition to research data, the web site offers latest news and analysis, various tools and calculators, information on latest IPOs etc. Another important feature is a huge repository of information about 500 leading companies in India across different sectors. You can in fact read a fact sheet on any company which includes information related to equity share data, income statements and balance sheet data. You can also get information on various industry sectors like aluminum, software, telecom etc. If you want to make a more informed decision regarding investments, or even if you are planning to start a business in India, this site will give you a pretty good idea on the bigger picture for each sector.

Coming back to financial services, the site provides Portfolio Tracker which is an online stock and mutual fund tracking utility. You can analyse your portfolio anytime based on latest market data and make your decisions.
The premium services include subscribing for special research reports on various types of funds with price ranging from Rs 2000 to Rs 9500. You can also subscribe to MY PLANNER utility for managing your personal finance online at a small fee of Rs330/= p.a.

Outlook Money - Guide to financial planning

Outlookmoney is another site in the league of various financial service providers in the Indian consumer marketplace. I somehow missed out covering this website in my initial reviews. I have been looking at this web site for over 2.5 years now and am pleased to see it evolving over time. If you have ever seen any small hand book on topics like "Retirement Planning", "Wealth Creation", "Insurance Planning" etc., you can fondly tie it back to outlook money. I think there's was the first publication in the most simplified manner that hit the Indian bookstores ever. So coming back to web site, this is purely a site for fresh entrants in the field of personal financial planning and investment management. The site covers a wide range of topics including stocks, mutual funds, taxation, real estate, banking, insurance, loans, retirement etc. It also includes various tools and calculators to help you quickly calculate various aspects related to financial planning and taxation.

I strongly recommend this web site to people who are absolutely new to the world of financial wisdom. And for all those who hate to read stuff in front of the computer, you can buy hard copies of the various publications through the web site.

Myirisplus - Your Indianised personal financial planner

myiris.com claims to be the owner of India's most comprehensive financial information databases, covering in-depth analysis of stocks, equity, mutual funds, loans, credit cards and commodity. The web site content is quite similar to other web sites that i have reviewed in past eg: moneycontrol.com, equitemaster.com, sharekhan.com. However, the biggest differentiator for myiris is myirisplus which is a personal financial software. In today's blog I would like to cover this exclusively primarily since this is the only company which has developed this much needed functionality. Myirisplus is a desktop application which can be downloaded from mmm.myiris.com. It is available for evaluation and is currently available at an offer price of Rs. 1800 for 12 months, for a family license of four users. So what can you do with myirisplus:
1. Consolidate different financial statements like banks, equity, MFs, FD's, loans, credit cards etc.
2. Track your investments
3. budget before spending
4. Plan your finances
5. evaluate various investment options
6. File your tax return
The software aims to cover the entire supply chain associated with personal finance management. It has four key features:
A. Consolidate financial records across multiple service providers
B. Generate tax returns and allow e-filing of returns
C. Draw a financial plan
D. Investment research

The software provides easy to use steps to guide user through all the four steps leading to effective financial planning and wealth creation. All one needs is to discipline his financial management habits and myirisplus can handle the rest !! After all its only a tool but an intelligent one :) !!

Try downloading it from here

Personal financial planning with iTrust.in

iTrust is a financial advisory services company based in the national capital region of Delhi which provides host of services like property search home loans, life insurance, health insurance , personal loans, mutual funds etc. The company defines its mission as "To help Indian families get rich" which is a very novel objective but need to be validated on the ground. The most important aspect of iTrust is its emphasis on the need for financial planning. The top level menu bar starts with "Financial Planning" item which says it all. A drill down into the financial planning segment presents you with guides related to tax planning and financial plans. There are couple of predefined sample financial plans as well. There is a segment called "free financial health checkup" which is sorted on the basis of various age groups. If you select a age group it will present you with a small questionnaire. Based on your response the system will provide with you appropriate recommendations. It will further give you with an option to consult a financial adviser by submitting a web request or through phone. A smart way of lead generation though :)
The site also provides you with options to search a property, and get it funded by offering best deals from various loan providers. You can compare deals from various service providers in other segments like life insurance, health insurance, FD's etc (reminds me of apnaloan.com). It is different from other web sites in two ways : one it does not provide content related to financial analysis, two it is quite simple to understand and get the required information without going through information clutter. I am not sure if its services are available all over India or only in Northern part but it is definitely a web site worth bookmarking !

icicidirect.com is an online share trading web site from ICICI Securities Ltd. Its been on Indian e-space for many years now. The site contains news and analysis related to stocks, mutual funds, commodities in addition to giving the user the option to buy and sell stocks and mutual funds online. The site has a section called ICICI Direct University which provides user with an in-depth information on basics of investment in the financial world. The content is very simple and can be easily followed by a beginner. In addition to online trading you have the option to locate a icicidirect.com retail store for direct consultation with a financial adviser. Its definitely an ideal place for an average consumer to get started with his foray into the financial world. The web site though does not have any personal financial management solution/tool to manage your finances though it has number of calculators like tax planning, retirement planning, investment planning, savings etc which provide initial guidance to an average consumer.

moneylineindia.com

Moneyline.com is another web site focussed on providing key financial services in the money lending business. It targets both home consumers as well as businesses. You can get home loans, personal loans as well as loans for your businesses. The loan can be raised against your existing mutual funds, ESOPs and shares and your home equity. Moneyline has set up its shops in various cities across India to increase retail presence in Indian market and mobilise funds. The web site is just an enabler to its retail model. There isn't much content on the website for educating the customer which i guess works out well some times when you have too many players just doing the same. It provides an online chat service to help answer users queries which allows quick customer contact and lead generation. The users can also share their views on moneyline blog. The best thing that i liked about the entire website was its simplicity and freshness. However, I am not sure how much value it can add to an average consumer who already has a number of sites dealing in financial services.

Give it a try if you are looking at getting loans for your personal or professional need!!

Sharekhan.com

sharekhan.com has been one of the oldest financial services portal in the Indian e-space. It is essentially a financial brokerage arm of SSKI group and has over 510 share shops in around 170 cities in India. It provides host of services which include:
1. Online share trading services
2. Equity and derivative trading
3. Mutual funds
4. Portfolio management services
5. Commodities trading
6. Depository services etc.
It provides an excellent starting point for an individual who wants to get started with the stock trading. You can also leverage the knowledge of sharekhan experts who can guide you in taking your first steps in the stock market. Of all the sites that I have seen so far I am unable to find any one which is focussed on all the personal financial management needs of a home consumer. Looks like there is still room for people to come in and fill this void.

NDTV Profit - Financial News Portal

ndtvprofit.com is the web arm of the financial news channel NDTV Profit promoted by famous Pranoy Roy. The ntdvprofit appears to be primarily a financial news and analysis portal but also provides updates and advises around stock market, insurance, mutual fund, IPOs an taxation. The site appears to be absolutely neat and well organized unlike moneycontrol.com which appears to be cluttered with lot of information. However, it no where comes close to the in-depth financial coverage and financial management tools provided by moneycontrol.com. This is certainly not a web site for beginners who want to get into the world of financial markets. The personal finance section which includes mutual funds, insurance, taxation does not provide any inputs on how to manage this instruments neither does it gives any suggestions on which ones to pick. Each category comprise of news updates which are only useful to people who are actively involved into trading. I did not find anything relevant to personal finance in this section.
Looking at the features of the web site it is difficult to predict the direction in which ndtvprofit intends to grow. In any case, it has a long way to go before it can be deemed as useful for an average Indian investor.

Manage your wealth with Moneycontrol.com

Moneycontrol.com, promoted by CNBC is one of the leading financial management portal in Indian internet space. It provides an extensive coverage of financial world covering detailed news and analysis, updates from financial markets, mutual funds, portfolio management and a host of tools to manage your personal financial planning. It has built a wider audience base by addressing the needs of a novice well as aiding a financial geek in managing his day-to-day financial activities. Some of the key features include:
1. In depth market analysis
2. Detailed information regarding upcoming IPOs
3. In depth coverage of various mutual funds
4. A number of tools including online portfolio manager, retirement planner, Market watch, tax calculator, insurance planner etc.
5. Wealth management articles and resources categorized around financial cycle of plan - invest - spend - study and work.

The most appealing feature is a completely dedicated section on "Investment for Beginners" called pehla kadam. In addition to host of articles and tools, it provides you with a FREE STOCK SIMULATION game. You can define your strategy, buy and sells stock online (of course in the form of a simulation) based on real time feeds before you actually get started with real trading (try Pehla Kadam). Interestingly, you can see the top online investors and the value that they have been generating on a daily, weekly or monthly basis. You also win weekly prizes for showing your financial prudence in the virtual world.

I must say this is an excellent strategy which has all the elements of web stickiness that would bind the user to moneycontrol.com. If you have not ventured into stock markets so far, moneycontrol.com provides you with a perfect ground zero platform to hone up your skills.

personalfn.com - Manage your personal finance

personalfn.com is probably one amongst very few Indian personal finance management sites which offers tips and advises to consumers on personal finance management. A bulk of the site is content based with topics mainly related to investments using various instruments like mutual funds, insurance, gold, FD's etc. There are sections on tax management and NRI investment strategies which come handy for quick reference. The best thing that I liked about personalfn is its simplistic approach in highlighting key personal areas of life that need constant financial planning attention in any consumer's life: taxation, education, marriage, retirement and property .

The site also provides a number of tools like education clac, property planner, marriage planner, tax calculator etc. which allow you to get on with quick calculations. There are premium services like My Planner which allow you to manage your personal finance online. Though I am not a big fan of their planing tools due to usability issues but still it is best amongst the lot.

personalfn has a offline presence in various cities which provide personalized services to consumers. If you are new to personal finance, I strongly suggest you take a look at this site!