If you fail to make the lump sum deposit before April 5, do so at least before the 5th of the next month (May). That way you will only lose out on the interest for April.
Don't solely focus on tax-saving alone.
If the gift is received from a relative, there is no tax implication. But if the gift is received from a non-relative and exceeds Rs 50,000 in value during a financial year, the entire value of the gift is taxable.
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
Investors must adopt a balanced approach, incorporating both styles in their portfolios.
LTA can be claimed only for domestic travel and is available for two journeys within a block of four years.
In numerous instances, family members are unaware of an insurance policy's existence, let alone its details.
An individual can avail tax deduction on the amount spent during the year on a deferred annuity for self, spouse, or child.
Those who cannot bear significant downturns (as much as 40 per cent) or have a short horizon should exit entirely.
Taxpayers with old, outstanding taxes will benefit from the CBDT's new scheme.
'If equities perform well in a year, withdraw money from equities. If the equity market is down, shift withdrawal to the debt portion.'
Everyone (with some exceptions) whose estimated tax liability is Rs 10,000 or more in a financial year must pay advance tax.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
Municipal corporations penalise late property tax payments. 'Penalties can include attachment of properties, bank accounts, rent and other movable assets," says Anand Moorthy, co-founder, Square Yards.
Borrowing from a fraudulent loan app subjects the borrower to a variety of risks.
'Clients deemed higher-risk are required to update their KYC more frequently.'
While near-term performance is difficult to predict after a huge run-up, fund managers believe the PSU theme's prospects remain sound over the medium to long term.
'The barbell strategy says that the best way to strike a balance between risk and reward is to invest at the extremes of the risk spectrum.'
Get a new QR code from an alternative provider. PhonePe, Google Pay, Pine Labs, etc are some of the other service providers.
What many don't realise is that including their spouse and children in their tax planning can enable them to reduce their tax burden legally.
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