Following the demonetisation move, the recast in direct tax moves is expected to give a boost the economy.
Tax Guru Anil Rego answers your personal income tax queries
A proper mix of cover that gets tax advantage is essential to ensure that there is adequate insurance. But first, you need to identify the needs. And they will keep on changing, according to your age, dependents and other factors: Medical insurance premiums up to Rs 15,000 come under Section 80D. And life insurance premiums up to Rs l00,000 get benefits under Section 80C.
As long as the money has been 'paid or deposited in the previous year', an assessee should be eligible for tax relief, says Harsh Roongta.
PPF is a good instrument for investors as it allows flexibility and tax benefits.
Equity-linked savings scheme, PPF and Sukanya Samriddhi Yojana are recommended instruments.
Investors across age groups and risk appetite can invest in these schemes.
If a salaried employee does not possess Form 16, he can still file the I-T Return with the help of his salary slips and Form 26 AS.
Can money used for buying mediclaim be used to claim deduction under Section 80D. If yes, then what is the maximum amount you can claim for this deduction?
It is not just about archaic limits, there are a number holes which, if plugged, will come to the aid of taxpayers, rues Neha Pandey Deoras
Multi-cap funds are best suited to exploit the present market scenario as they are free to invest across all market capitalisations and sectors, says Naveen Kukreja, CEO and co-founder, Paisabazaar.com.
With a return of about 5.75% per annum for a three-year lock-in debt instrument, the infrastructure bond scores poorly when compared with the other alternatives.
There is more to tax savings than Section 80C. These six can help you optimise your tax savings.
Three key instruments that can help you meet your financial goals, while also allowing you to enjoy tax deductions are ELSS, term cover and health cover.
Finance Minister Arun Jaitley presented his first Budget on Thursday.
The due date for filing Income Tax returns for 2019-20 has already been extended till November 30, 2020.
Do not put all your funds into a single scheme; have a mix of fund houses as well as schemes.
If you're a salaried person there are many ways to save taxes
Most of these investments fall under the ambit of Sec 80C within the Rs 100,000 limit.
Without tinkering with the tax rates, Finance Minister Arun Jaitley in his maiden budget provided encouraging signals for domestic and foreign investors.
A tax plan is not only to save taxes, it should also assist you in achieving your other financial goals such as buying a home, a car, children's education, retirement to name a few. Here are some top ways in which you could plan for your tax savings
It's better to inform your new employer about income earned and deduction availed with the previous one.
Budget could well determine if Achche Din will materialise
Separate investment limits have been proposed for life and health insurance premium.
Sandeep Shanbhag offers tips on post Budget taxation rates.
'Opt for this facility only after doing a cost-benefit analysis: Will the savings in interest cost by parking your surpluses in the home loan overdraft account outweigh the higher interest cost of this loan?'
While the average CPI hovers at 10 per cent for five years now, our tax benefits are almost a decade old.
Steps like depositing the entire PPF amount before April 5 or preparing a household budget will ensure this financial year goes well.
A six-point comparison by Anil Chopra, Group CEO & Director, Bajaj Capital
Encouraging domestic financial savings through focused measures would help mobilise long term resources for funding infrastructure and economic development.
After the lock-in, ELSS investments should be en-cashed only when an important financial goal has arrived or there is a medical or other financial emergency in the family, says Anil Chopra -- Group CEO & Director, Bajaj Capital.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
'It is crucial to understand that the ultimate goal of your investments isn't to pay lesser tax, but to create long-term wealth for you and your family,' says Satyen Kothari, founder and CEO, Cube Wealth.
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