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.
The government has also allowed individuals from the private sector to apply for the post
Assets under management with the mutual fund industry jumped a whopping 41 per cent in fiscal 2021 to Rs 31.43 lakh crore, despite a minor 1 per cent decline in March, says a report. The 1 per cent decline in assets on monthly basis in March was because of net outflows from open-ended debt funds, even though open-ended equity funds for the first time in June 2020 recorded net inflows, according to the industry data collated by Crisil on Friday. Marc saw net outflows of Rs 29,745 crore, taking down the industry's asset base to Rs 31.43 lakh crore, down from the record high of Rs 31.64 lakh crore in February, registering a whopping 41 per cent growth in the fiscal 2021 over the previous fiscal, said Crisil, adding cumulative inflows equalled Rs 2.09 lakh crore.
If one compares returns, the two public-sector ETFs have done better over the past year, but the ELSS category has done better over the trailing three and five years.
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.
Invest early. Plan your taxes.
Evaluate recurring investment products and do the numbers before making any investments.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
MFs continue to find it difficult to attract and retain long-term money from investors
Investors must remember that only resident Indians can open a PPF account and a person can have only one PPF account.
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.
When looking at fund returns, avoid looking at just the past 12 months' performance, says Sanjay Kumar Singh
Over 700,000 new investor accounts have been opened so far in FY15.
Salil Dhawan explains why you must invest early in life.
It was because of strong inflows into debt-oriented schemes that saved 2019 from being a "dark-dull year of investing" as inflows into equity funds has dropped this year due to a volatile market.
Five parameters that will help you make a winning decision
You can still save money, says Samkit Maniar
Experts expect the trend to continue in the near term.
Retail participation in mutual funds from beyond the top 15 cities in the country has increased remarkably in the past 18 months.
Use deductions introduced in the Budget to save additional Rs 24,000 in tax
Start 2017 with these five simple financial resolutions and you will put your family on solid ground financially, says D P Singh, executive director and chief marketing officer, SBI Mutual Fund.
Insurance firms have designed amazing retirment plans to lure more customers.
Salaried employees get several benefits under Sections 80C, 80D, 80G and others.
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.
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.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
These simple changes can add a significant thrust to your overall money management over time.
Many youngsters take financial discipline as putting restriction on their freedom. That's a myth. You can very well enjoy as well as save and grow your money at the same time. Salil Dhawan shows you how
The longer a bear market lasts, the more the eventual returns are, says Devangshu Datta.
If your fund's expense ratio has risen dramatically after Sebi's recent changes, compare it with the category average before switching.
While regulators are trying to do their bit, the onus is on you to prove it.
Salil Dhawan explains how as you progress in your career you can also grow your money at a phenomenal pace if you start investing early.
Mahavir Chopra compares mutual funds and Ulips to help investors decide.
After eight months of consecutive outflows, equity mutual funds witnessed a net inflow of Rs 9,115 crore in March amid correction in the stock market. Barring multi-cap and value fund categories, all the equity schemes saw inflow last month, data from the Association of Mutual Funds in India (Amfi) showed on Thursday. However, investors pulled out Rs 52,528 crore from debt mutual funds last month, after investing Rs 1,735 crore in February, owing to advance tax payments and other year ending commitments. Overall, the mutual fund industry witnessed a net outflow of Rs 29,745 crore across all segments during the period under review, compared with a net inflow of Rs 4,090 crore in February.
Dilip Kumar Jha explains what the buyers must do to protect their own interest.
An Aadhaar card can fast-track the KYC procedure for some instruments.
The onus is on you to reject financial products that don't suit your needs.
The forthcoming budget is an excellent opportunity for the Government to fulfill its promise of high economic growth.
There is no clearly defined right or wrong answer since both target different needs of a portfolio.
If new goals have emerged, this is the time to make fresh investments.
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