Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
If someone does reduce his contribution, he should scale it back to the 12% level as soon as he can, suggests Sanjay Kumar Singh.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
The aggressive life cycle fund will allow equity exposure of up to 75%, up from the current limit of 50%.
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
A portfolio can be rebalanced by either selling a portion of the outperforming asset class or by buying more of the underperforming asset class.
'Any earnings, regardless of location, will be subject to Indian income tax.'
Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
But to avail the benefit of this new tax-saving scheme you will need to ask your employer to make some changes to your CTC package.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
A retirement fund can be helpful for all age groups, but ideally one should start investing early to beat market swings and gain from compounding.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
rediffGURU Samkit Maniar answers readers' personal income tax queries
rediffGURU Mihir Tanna answers your income tax queries.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
EPFO may start investing up to five per cent of its incremental corpus in the equity market.
rediffGURU Sunil Lala answers your MF-related queries.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
rediffGURU Ulhas Joshi answers your personal finance and mutual fund queries.
The choice should depend on the size of the retirement corpus, stage in life, and state of health.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
To curb mis-selling of policies and rationalise commissions, radical changes have been proposed to help investors.
rediffGURU Sunil Lala answers your personal finance-related queries.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
rediffGURU Samkit Maniar answers readers' personal income tax queries
rediffGURU Hemant Bokil answers your personal finance queries
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
rediffGURU Kirtan A Shah answers your personal finance queries.
The self-employed should invest in the National Pension System, a government-backed, low-cost retirement avenue where they can choose the mix of debt and equity that is right for them.
The Pension Fund and Regulatory Development Authority has unveiled a savings account scheme under the New Pension Scheme which would allow investors to enter and exit at will. The account, called Tier-II, will be available only to those who have subscribed to Tier-I, which an investor cannot exit till the age of 60. Tier-I, a pension account, was launched in May but has not found too many subscribers in the absence of tax benefits at the time of withdrawal.
The software is being developed in association with the Central Record-keeping Agency. It is expected to debut by the end of this year. PFRDA is also looking to have an ombudsman for redressal of investor grievances. To increase liquidity of the scheme, there could also be Tier-II accounts by the end of this year, which would allow investors to withdraw money at any given point of time.
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
Investors should quiz them to understand the product, which options to invest in, and how to get the final payout
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