'Ensure that all property-related documents are up-to-date.' 'Relying on outdated documents can create legal complications.'
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
'Any earnings, regardless of location, will be subject to Indian income tax.'
Long-term tax-saving FDs can also be considered after the PPF limit has been exhausted.
'Younger employees, who tend to have a higher risk appetite, will find NPS advantageous due to the potential gains from equity markets over time.'
Scammers sometimes misuse personal information collected during tax preparation, leading to identity theft or unauthorised financial transactions.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
Make minimum payments on all debts, then use extra funds to tackle the smallest debt first.
'If their allocation to certain segments have become high due to strong returns over the past three-four years, they should rebalance their portfolios and bring them in line with their long-term asset allocation.'
Submitting a late return helps you stay compliant with tax regulations and avoid legal issues.
'File all the supporting documents in response to the allegation since there is a possibility of the proceedings getting dropped at that stage if the reply is satisfactory.'
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
A taxpayer who does not revise their return within the stipulated deadline would be stuck with the original return, including its errors.
It is advisable to file your ITR right away and not rely on potential extensions.
'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
'If an individual makes significant financial investments, she should stick to the old regime.' 'If the individual prefers straightforward computation without any tax benefits, the new regime would be suitable.'
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
It is essential to have a comprehensive motor policy, and not just a third-party cover, as the latter does not protect your own vehicle.