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.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Women are multitasking and management queens. The pointers here can easily be managed by all women along with juggling their current tasks at hand. Superheroes are fictional whereas superwomen are real. They are all around us!
Post office savings of 1, 2 and 3 year term deposits and 5-year recurring deposit currently fetch 8.4 per cent interest per annum.
As per the EPFO income projections, retaining 8.8 per cent rate of interest for the current fiscal would have left a deficit of Rs 383 crore. Hence, it was lowered to 8.65 per cent
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
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.
The Pension Fund Regulatory and Development Authority (PFRDA) has sought income tax exemption for the New Pension Scheme at par with other schemes like Public Provident Fund (PPF).
Those spending over Rs 2 lakh on foreign travel, incurring more than Rs 1 lakh electricity bills, or depositing over Rs 1 crore in current account will have to mandatorily file ITR even if their total income is below the taxable limit. The last date for filing has been extended to Nov 30 from Jul 31.
In an online chat with Rediff.com readers, personal finance expert Anil Rego answered queries about the new tax regime announced in the Union Budget.
Getting locked into instruments before the new regime kicks in would be a good strategy.
Tax deductions and prioritising their sequence will help you streamline your investments for efficient tax saving.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Finance minister Arun Jaitley's maiden budget has put more money into the hands of the salaried. Would you like to share how you are going to make use of that money?
Want your investments to make money as well as save tax for you? Anil Rego has some advice
Finance Minister Arun Jaitley presented his first Budget on Thursday.
Before you start planning for taxation, you must understand that at the end of the day, it is just another investment you are making.
We give you five good reasons why you must invest in mutual funds at an early age.
The due date for filing Income Tax returns for 2019-20 has already been extended till November 30, 2020.
Now, the commission will be between zero per cent to 0.5 per cent.
What if you could have an option apart from personal loan in times of crisis?
'Apart from providing you with the ability to withstand escalating medical expenses, a dedicated financial plan for health will also ensure financial independence in old age,' advises Arun Thukral, MD & CEO, Axis Securities.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Gaurav Mashruwala, renowned financial planner chat with our readers on investment, debt, and spending.
Here's how EPF stacks against other investment options
A day ahead of Lok Sabha polls announcement, the government today decided to hike interest rates on fixed deposit schemes offered by post offices by up to 0.2 per cent.
The bill to amend payment of gratuity Act in order to double the ceiling of tax-free gratuity to Rs 20 lakh, would soon be placed before the Union Cabinet for approval.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your 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.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
Government to pay disproportionately high interest for borrowings from savings, overturning a nearly two-decade-long process of reforms in the management of public debt.
In this interview with Rediff.com's Shobha Warrier, Ashok Kumar E R, the CEO and co-founder of Scripbox shares some more interesting observations about the way Indian women make financial decisions and offers advice on how, with the apt guidance and information, they could do a lot better.
Retirement fund body EPFO may lower the interest rate on deposits to 8.6 per cent for over 4.7 crore (47 million) subscribers for 2011-12 to match it with the rate of public provident fund (PPF) scheme.
Except investing more and investing for a longer period mankind will do anything to increase its wealth.
A combination of ELSS or PPF with a term plan offers better coverage and returns
It is suggested that you get your SIM locked with which the wallet account is mapped.
'It is crucial to understand that the ultimate goal of your investments isn't to pay lesser tax, but to create long-term wealth for you and your family,' says Satyen Kothari, founder and CEO, Cube Wealth.
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