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.
Restrict investment to Rs 50,000 for tax benefits, experts tell Sanjay Kumar Singh, but caution that taxation at maturity and compulsory annuities are dampers.
While seniors seeking a regular income should switch to debt funds from balanced funds, younger investors should invest in balanced funds after understanding their risks.
Look at effective interest rate on home loan offers. Availing of ICICI Bank's cashback offer will mean you lose the flexibility to switch or prepay the loan, reports Sanjay Kumar Singh
You will be much better off buying the required plans directly from life and general insurers, experts tell Chirag Madia
Now that the National Pension Scheme offers more choices than the Employees Provident Fund, is more transparent and also allows to choose the level of allocation to equities as investors like, should one switch to the NPS?
Goals like buying a car or travelling abroad are short-term goals whereas purchasing a house or retirement planning are medium and long-term goals.
Those just starting their careers should avoid adding to their liabilities, especially if they already have an education loan. They should think hard before taking a car or home loan.
Heed your liquidity needs before investing in an FMP.
A flavour-of-the-season approach does not work in investing, suggests Deepesh Raghaw.
Allotment could be low, and expected listing-day gains can quickly morph into losses if sentiment takes a turn for the worse
If you plan to withdraw money from your corpus regularly to meet expenses, have a portfolio of stable instruments.
If the changes being considered by the EPFO become a reality, investors may have to be more active in deciding equity preference and when to withdraw money, reports Sanjay Kumar Singh
People who are close to retirement and don't intend to go back to full-time work again should deploy a part of their VRS money in equities so that it keeps growing at a faster rate.
Salaried employees get several benefits under Sections 80C, 80D, 80G and others.
Thanks to Budget 2018, seniors can invest more and also save more.
Despite returns from gold down over 5% in the past three months, it is a good idea to keep this asset class in your portfolio.
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.
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.
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