Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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The first phase would comprise universal access to banking facilities. Under this, basic bank accounts with zero balance, RuPay debit card and financial literacy, will have to be completed in the next one year, officials said.
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
Salaried employees get several benefits under Sections 80C, 80D, 80G and others.
The govt has incentivised the worst of investment products.
Cost is not the only factor that one should look at. It's best to keep investment and insurance apart
Pension plans by mutual funds have a three-year lock-in like ELSS.
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.
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.
Here we discuss two tools that if used optimally can save you heavy taxes. Both when used simultaneously create such synergy in tax savings that it is really mind-boggling. Read on. . .
Plan these investments well rather than just doing random investments at the beginning of the year or rushing in at the end, advises Harshad Chetanwala, co-founder, MyWealthGrowth.
Kick start your saving and money management strategy at the age of 25, and build it up gradually.
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
As many as 75 million households that do not have access to banking services will be covered and at least one bank account opened for each household, against the earlier proposal of two.
Encouraging domestic financial savings through focused measures would help mobilise long term resources for funding infrastructure and economic development.
If new goals have emerged, this is the time to make fresh investments.
A combination of ELSS or PPF with a term plan offers better coverage and returns
The Union government is keen to ensure financial security for unorganised sector workers
The three main regulators have different approaches to grievance redressal and different standards to stop harmful from coming pitched at the consumer.
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
Pranjal Kamra, CEO, Finology Ventures, lists seven efficient ways to cope with the rise in EMIs even as you balance your monthly budgets.
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 will carry out most banking operations like accepting deposits but can't advance loans or issue credit cards.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Consumers will thank the Modi government for this simple yet revolutionary move, which is long overdue, says Debashis Basu.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Fund managers weren't too worried in 2014, as it was a year of positive surprises.
Before you file your income tax return this year, have a look at the amendments that might help you take the most possible tax benefit.
You can still save money, says Samkit Maniar
Women are multitasking and management queens. The pointers here can easily be managed by all women along with juggling their current tasks at hand. Superheroes are fictional whereas superwomen are real. They are all around us!
'I want to assure the country that no country, no government can tolerate anybody taking the law into their hands, whether it is an individual or a group.'
The abolition of wealth tax is again a welcome step.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Use deductions introduced in the Budget to save additional Rs 24,000 in tax
Be willing to learn from mistakes.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
Dear readers, we had asked you to send in your personal finance queries to be answered by Basis founder and CEO Hena Mehta. Here's the first batch of responses.
The problem is set to grow following issuance of 75 million new RuPay cards in the next six months with the launch of the Jan Dhan Yojana.
Many exemptions make little sense, such as a monthly exemption of Rs 100 for college education and Rs 300 for hostel fees.
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