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.
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.
Finance Minister Nirmala Sitharaman on Saturday unveiled 'transformative' tax reforms that ranged from a simpler income tax law to higher TCS threshold for remittances and income tax benefits for middle class.
The Centre has to bear the maximum burden of borrowing NSSF loans to the tune of Rs 1 lakh crore.
It is a good option for parents of girl children who want a debt product and do not mind its low liquidity.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
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
Depending on your liquidity requirement, invest in the right debt instruments.
rediffGURU Kirtan A Shah answers your personal finance queries.
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
A simple primer on how much money taxpayers can save under various sections of the Income Tax Act.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
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.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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.
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.
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.
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.
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?
NSC scores high on all three parameters that conservative investors are seeking -- safety, tax-adjusted returns and liquidity.
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
rediffGURU Hemant Bokil answers your personal finance queries
>The Indian Army still uses old British-era names and recruits soldiers based on caste or region, which hurts national unity, argues Colonel K Thammayya Udupa (retd).
rediffGURU Samkit Maniar answers readers' personal income tax queries
Your financial goals are of utmost importance and the tax saving is an added incentive, advises Dwaipayan Bose.
FDs are not advisable for long-term wealth creation as their post-inflation, post-tax returns are not very attractive.
Tax planning will help you pay less income tax. Something everyone wants. But smart tax planning will help you boost your portfolio.
Evaluate recurring investment products and do the numbers before making any investments.
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.
Did you know that you can get a tax benefit of up to Rs 50,000 under a health insurance policy?
"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).
Consider a combination of a base policy and a super top-up policy.
Simple takeaways from the Union Budget 2015-16 and how it impacts your life
The government resolution does not spell out what action would be taken, if any, against those writing and publishing 'negative' news. Nor does it define 'negative news and "misinformation', explains Jyoti Punwani.
'FDs should hold your emergency funds, equivalent to around 6-12 times your monthly expenses.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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.
