rediffGURU Yogendra Arora answers readers' personal income tax queries.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
Of the three options, which is the one that the salaried class wants most out of Union Budget 2019?
rediffGURU Samkit Maniar answers readers' personal income tax queries.
The choice of income tax saving instruments is important, but now you have to identify tax efficient investment options
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
As the end of financial year approaches investors are suddenly woken up to the existence of the Income Tax department. If you haven't done the tax planning in advance then this is the time to carefully select the investment products under Section 80C.
It's that time of the year again when one needs tobegin calculating their tax liabilities.
'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
As the Union Budget 2025-2026 (FY26) inches closer, the Indian real estate industry is seeking stamp duty cuts, revised home loan limits and updated affordable housing norms through Pradhan Mantri Awas Yojna (PMAY), single-window clearance and eco-friendly policies, among others. Industry leaders and consultancy firms, including Anarock, Raheja, Gaurs, Kanodia Group, Reach, Urban Space, Justo and Eros Group, have shared their expectations.
Don't solely focus on tax-saving alone.
Investors with a long-term horizon and high-risk appetite seeking capital appreciation can consider investing in ELSS.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
'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.'
The choice of tax regime dictates how your income will be taxed. If you don't make the right pick, you might end up losing money.
rediffGURU Anil Rego answers readers' personal income tax queries.
Data from Value Research analysed on five-year, three-year and one-year performances of active equity schemes to pick the best performers in popular scheme categories.
And here's why P Chidambaram must do it, argues Alok Patnia of TaxMantra.com
Seeks exclusive Rs 2 lakh deduction for principal repayment U/s 80 C and to double interest on home loans for self occupied property from Rs 1.5 lakh to Rs 3 lakh
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
There have been demands from bankers and insurers to hike the tax exemption limit from Rs 100,000 per annum to encourage household savings.
An individual can avail tax deduction on the amount spent during the year on a deferred annuity for self, spouse, or child.
It is advisable to file your ITR right away and not rely on potential extensions.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
Younger people, who usually have a longer investment horizon which allows them to handle the interim volatility, may go for them.
There's more to tax0-saving than just Section 80C. The other sections mentioned here too offer good tax deductions to taxpayers.
From how to open an NPS Vatsalya account to knowing how this scheme compares to investing in mutual fund or in provident fund, Ramalingam Kalirajan offers a 360-degree view and the pros and cons of investing in a scheme that has the potential to secure your child's financial well-being.
Follow this 15 x 15 x 15 rule to become a crorepati without taking big risks. Ramalingam Kalirajan explains how
Form 16 contains details of salary income, deductions, and exemptions.
Anamika Pareek explains the advantages of investing in tax-saving options like the equity-linked savings schemes.
rediffGURU Samkit Maniar answers readers' personal income tax queries
Many seniors mistakenly believe they need not file returns if tax is deducted at source (TDS) on income received. This is incorrect.
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
'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.'
rediffGURU Samkit Maniar answers readers' personal income tax queries.
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.
The three year lock-in period enables ELSS fund managers to invest in high conviction stocks for a long period of time because of relatively less redemption pressure, says Dwaipayan Bose
Ramalingam Kalirajan explains the pros and cons of both investment types.
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