Investors must, however, be prepared for volatility in ELSS, cautions Sanjay Kumar Singh.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'There are no new benefits for senior citizens, but on the other hand senior citizens having sizeable dividend income may have to suffer tax at applicable slab rates,' says Mahesh Padmanabhan.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
In an online chat with Rediff.com readers, G Srikanth, partner, GSV Associates, chartered accountants, Chennai and member of the Institute of Cost and Management Accountants, answered queries about the new income tax proposals mooted in the Union Budget 2020-2021.
September 15 is the deadline for paying the second instalment of advance tax. This is income-tax (I-T) taxpayers need to pay every quarter, instead of a lump sum at the end of the year. Ashutosh K Srivastava, senior associate, SKV Law Offices, says, "The tax has to be usually paid when income is earned. "Nonetheless, according to the I-T Act, the taxpayer has to estimate his income for the entire financial year. Based on that, he/she pays tax at specific intervals."
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
We asked you, dear readers to share your best tips on saving money. Dibyendu Kumar Roy, 43, from New Delhi shares his tips.
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Taxpayer will also have to forego deduction under 80CCC (contribution towards certain pension fund), Section 80D (health insurance), 80E (interest on loan for higher education), 80EE (interest on loan taken for residential property), 80EEB (purchase of electric vehicle), 80G (donation to charitable institutions), and 80G (rent paid).
Salaried employees get several benefits under Sections 80C, 80D, 80G and others.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
'Decide on an asset allocation you are comfortable with and stick to it for the long term.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Buying or selling securities based on rumours about expected changes in tax rates or sectoral sops can backfire, advises Sarbajeet K Sen.
Home First Finance will be answering readers' home loan queries. Mail your queries to getahead@rediff.co.in with the subject line 'Home Loan Query' and we will have your queries answered by Home First Finance.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Tax planning should not be left for March. If you do so, you could face a severe cash crunch in that month, warns Sanjay Kumar Singh.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Shalini Gupta, a freelance writer from Pudicherry, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
Mahesh Padmanabhan, principal advsior, RelaxWithTax, will answer all your tax-related queries in an online chat on February 5, between 2 pm and 3 pm
NSC scores high on all three parameters that conservative investors are seeking -- safety, tax-adjusted returns and liquidity.
While the proposed new tax regime is optional for taxpayers, the finance minister has said the government eventually wants to do away with all exemptions with a lower tax-rate simplified structure.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
If you have a health insurance policy, you can earn benefits on premiums paid on health check-ups, says Sajja Praveen Chowdary, head-Term Life Insurance, Policybazaar.com.
Leading up to the International Women's Day on March 8, this is the first of a four-part series that talks about how women can invest to achieve their long-term financial goals.
A case study on why the Rs 1 lakh (Rs 100,000) tax-free investment limit for Section 80C of the Income Tax Act is ridiculously low and impractical.
People in their quest to save tax usually end up buying a lot of unwanted insurance products.
ELSS, or tax savings funds, are diversified equity funds that offer a benefit under Section 80C. Here's how to make sure you invest smartly.
Individuals often postpone tax planning till the end of the financial year. As the deadline for showing proof of investments draws near, they invest randomly in any product that will help them save tax for that year. Later, they realise that it is not suited for them, so they abandon it. Tax planning should not be a standalone, one-off activity, but should be in sync with your overall financial plan, says Sanjay Kumar Singh.
Tax planning will help you pay less income tax. Something everyone wants. But smart tax planning will help you boost your portfolio.
While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws isn't a concern, advises Bindisha Sarang.
Want your investments to make money as well as save tax for you? Anil Rego has some advice
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