Tax-saving investments should not be made with the sole purpose of saving tax, but should also help an individual grow his wealth, suggests Archit Gupta, founder and CEO, ClearTax.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
'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.'
Twenty years after the burning of a train in Godhra killed 59 'karsevaks' and triggered one of India's worst post-Partition riots, the poll-scape reflects the yawning gulf between the two communities.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
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.
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.
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
In an online chat with readers a few hours after the Union Budget 2015-16 proposals were announced by Finance Minister Arun Jaitley, Sundeep Agarwal, Director, PwC India, answered related queries to help put the announcements into perspective.
rediffGURU T S Khurana answers readers' personal income tax queries.
Sukhu said that he was a warrior and will fight till his last to ensure the welfare of the state and its people.
On maturity, 40 per cent of the accumulated corpus can be withdrawn tax-free.
The govt has incentivised the worst of investment products.
The government wants to reduce the rate of contribution - part of the employee's share - for a class of workers depending upon age, income or gender, without changing the contribution from the employer's share.
This mindless medley of products does not create choice.
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
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.
While reasonable safeguards should be built in, there can't be restrictions on the individual's right to leave her/his money to whoever s/he wants, notes Harsh Roongta.
Populism gains momentum during election periods, and this trend is evident in at least four states: Telangana, Rajasthan, Madhya Pradesh and Chhattisgarh.
It is proposed to provide a combined upper limit of Rs 7.5 lakh in respect of employer's contribution in a year to NPS, superannuation fund and recognised provident fund and any excess contribution is proposed to be taxable.
Despite the equity booster, many would be uncomfortable about NPS.
On retirement, you will draw a lesser amount as pension.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
'Any earnings, regardless of location, will be subject to Indian income tax.'
'Basic Covid protocols were not followed, which is why so many teachers lost their lives.'
The choice should depend on the size of the retirement corpus, stage in life, and state of health.
If someone does reduce his contribution, he should scale it back to the 12% level as soon as he can, suggests Sanjay Kumar Singh.
rediffGURU Mihir Tanna answers your income tax queries.
rediffGURU Samkit Maniar answers readers' personal income tax queries
The proposal had attracted strong criticism from the salaried class.
Leading up to the International Women's Day on March 8, this is the first of a four-part series that talks about how women can invest to achieve their long-term financial goals.
It is a trend that economists and researchers say might continue. The data shows the share of this age group in the net EPF accounts created - a proxy for net new formal jobs created - fell from 37.9 per cent in 2018-19 to 24.1 per cent in 2021-22.
A portfolio can be rebalanced by either selling a portion of the outperforming asset class or by buying more of the underperforming asset class.
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.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The government will notify categories of employees who will be excluded from the controversial tax proposal on provident fund withdrawals.
'Where in the world you get 12.5 per cent return of interest?'
rediffGURU Sunil Lala answers your MF-related queries.
