Chennai-headquartered Indian Overseas Bank has launched a five-year tax saving deposit scheme at an interest rate of 8.15 per cent per annum.
'No retaliatory tariffs now. You can retaliate after a few months.' 'Today, there is no need to retaliate because it is a question of long term benefits.'
Want your investments to make money as well as save tax for you? Anil Rego has some advice
An excerpt from 'Money Smart: The Indian Woman's Guide To Managing Wealth' by Reenita Malhotra Hora and Divya Vij that reveals various options to help you save tax as well as invest for creating long-term wealth.
The Centre has to bear the maximum burden of borrowing NSSF loans to the tune of Rs 1 lakh crore.
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
Raise in NPS entry age gives seniors another retirement-saving option but they should invest at least Rs 50,000 to avail of the additional tax benefit scheme provides, reports Sanjay Kumar Singh
rediffGURU Samkit Maniar answers readers' personal income tax queries
The BJP may win more seats in the February 5 assembly election, but not enough to trump AAP, notes Ramesh Menon.
Did you know that an individual can, in addition to the tax benefits she/he is entitled to, also leverage the benefits available to family members to reduce this liability?
Consider a combination of a base policy and a super top-up policy.
rediffGURU Hemant Bokil answers your personal finance queries
You can build your own retirement savings portfolio by investing in equity, hybrid and/or debt funds. Alternatively, you can also invest in retirement funds which provide asset allocation solutions for different investment needs and risk appetites, says Dwaipayan Bose
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Depending on your liquidity requirement, invest in the right debt instruments.
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
While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws isn't a concern, advises Bindisha Sarang.
Senior citizens and others depending upon income from bank fixed deposit (FD) schemes will be at the receiving end with the retail inflation exceeding the interest rates. The Reserve Bank of India (RBI) in its latest monetary policy review has projected retail inflation at 5.3 per cent for the current financial year. Last week, the RBI said that the Consumer Price Index (CPI)-based inflation is now projected to be at 5.3 per cent for 2021-22 with risks evenly balanced.
A simple primer on how much money taxpayers can save under various sections of the Income Tax Act.
The calculator, with a comparative table to compare taxes in the old and the new tax regime, for resident individuals (financial year 2020-21) has been hosted on the official e-filing website of the department -- https://www.incometaxindiaefiling.gov.in.
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.
If the cashless request is denied, the entire cost may need to be paid for planned treatments.
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.
Your financial goals are of utmost importance and the tax saving is an added incentive, advises Dwaipayan Bose.
NSC scores high on all three parameters that conservative investors are seeking -- safety, tax-adjusted returns and liquidity.
"There has been a 0.05 percentage points decline in the share of allocation for child budget to the Union Budget from 2.35 per cent (2022-23 BE) to 2.30 per cent (2023-24 BE).
Chief Minister Arvind Kejriwal said citizens suggested to him that the power subsidy provided to financially stable families could be used on upgrading schools and hospitals in the city.
Tax planning will help you pay less income tax. Something everyone wants. But smart tax planning will help you boost your portfolio.
'FDs should hold your emergency funds, equivalent to around 6-12 times your monthly expenses.'
Evaluate recurring investment products and do the numbers before making any investments.
Did you know that you can get a tax benefit of up to Rs 50,000 under a health insurance policy?
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'If you are investing in a Ulip for returns, go for a type I Ulip.' 'If you are investing for insurance cover as well, type II is better.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Simple takeaways from the Union Budget 2015-16 and how it impacts your life
If the interest rate on bank deposits is linked to any external benchmark, it would jeopardise the banks' fund-raising ability. Interest rates on small savings schemes are likely to be reduced very shortly, to maintain parity. All these steps would indeed affect retired people, and particularly those dependent on interest income, says Arindam Gupta.
Sandeep Shanbhag offers tips on post Budget taxation rates.
Equity-linked savings scheme, PPF and Sukanya Samriddhi Yojana are recommended instruments.
Interest rates on bank FDs have started coming down and rates on other fixed-income products will also decline. Investors should lock in to instruments offering higher returns.
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