Invest in MFs for liquidity and choice of funds. Invest in NPS for the tax benefits, tax-free rebalancing, and for earmarked savings for retirement.
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.'
'It's better to be over-insured than underinsured.' 'Ensure your home insurance includes STFI (storm, tempest, flooding, and inundation) cover for protection against monsoon rains.'
'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.
If the cashless request is denied, the entire cost may need to be paid for planned treatments.
By taking the mutual fund route, investors can take exposure to gilts with small amounts. Over a decade or more, returns from these funds tend to be sound.
'If the portfolio growth rate is higher, take this loan. If it is lower, liquidate your investments.'
'If you are investing in a Ulip for returns, go for a type I Ulip.' 'If you are investing for insurance cover as well, type II is better.'
'Filing a nil ITR serves as a formal declaration to the tax authorities that your earnings fell below the taxable threshold in the given financial year, and you had no tax liability during that period.'
Not filing an ITR or paying the tax dues on the deceased's behalf can lead to penal consequences.
Purchase health insurance at an early age, before you incur a disease, as this makes access to health insurance difficult and raises the premium significantly.
'Those trying to use these funds for quick gains should avoid them due to risk of being late to the party.'
Long-term investors should never stop their SIPs during market corrections.
Do not get repair work started without informing the insurer as the latter like to carry out end-to-end verification of damages and documents before approving a claim.
'Save the entire chain of e-mail exchanges so that you have documented evidence to show you informed the bank about the issue.'
Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
Form 16 contains details of salary income, deductions, and exemptions.
'Some buyers believe prices may correct in the future.' 'This is unlikely. Many developers are increasing prices amid strong sales and inflationary trends.'
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