'The adjustments (of tax slabs and standard deduction) will reduce the tax burden for salaried individuals with an income of around Rs 20 lakh by approximately Rs 18,000.' 'For non-salaried individuals with the same income level, the savings will be around Rs 10,000.'
GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy, expects Debashis Basu.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
Premium paid on life insurance policies entitles you to tax benefits. Read on to find out more about this.
India, the world's third largest oil importing and consuming nation, is likely to save as much as Rs 1.8 lakh crore on import of crude oil and LNG if the trend of softening international energy rates continues, Icra said Wednesday. India, which meets over 85 per cent of its crude oil needs through imports, spent $242.4 billion on buying crude from overseas in the fiscal year ended March 31, 2025.
'The incentives to switch to the new tax regime... are viewed as a negative due to potential loss of customers who buy policies for saving tax.' 'The tax-saving value proposition for the sector reduces.'
Organise your PAN, Form 16, Form 26AS, AIS, and all other proofs before e-filing.
'The outlook for the next Samvat is more constructive, as many of the earlier drags are gradually becoming supports.'
Talking to reporters in New Delhi, Angmo challenged authorities to an open debate on the allegations, including those suggesting links to Pakistan, and said neither she has been able to contact Wangchuk nor has she been provided with formal documents detailing the charges against him by the administration.
The rationalisation of goods and services tax (GST), announced on Wednesday, directly lowers the cost of everyday medical consumables, and also high-end therapies in oncology and rare diseases, helping reduce out-of-pocket patient expenditure and better adherence to medication.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Victory wrested from regime that only listens when forced, the TMC said on GST exemption on insurance.
Tax benefits should not be the driving force for an insurance policy.\n\n
Ask rediffGURU and PF, MF and insurance expert Purshotam Lal your mutual fund, insurance and personal finance-related questions.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
'Do exhaustive research and then select the one that best fits your budget and requirements.'
'We are not incentivising the old tax scheme. These taxpayers will also shift to the new regime after comparison.'
India's entry-level 5G smartphone segment, typically held to be those priced below 10,000, is set to bustle in the upcoming festival season as brands like HMD, Poco, and Lava launch their products.
Here's a list of Top 10 ELSS funds in terms of percentage gain in the last one year till August 10, 2007. These funds not only help you make money but also save taxes as per Section 80C.
Your choice between the Old and New Tax Regimes should reflect your financial strategy and investment goals, says Ramalingam Kalirajan
It is that time of the financial year, when tax payers start getting active about investing in Section 80C instruments.
France today increasingly resembles the Italy of the past, when governments fell with bewildering regularity, prime ministers came and went in rapid succession, and political instability became the norm rather than the exception, point out Krishnan Srinivasan and Manoj Mohanka.
At the end of the day, this isn't about choosing between EMIs and SIPs. It's about choosing your path to financial freedom.
Despite similar tax treatment, debt MFs enjoy certain advantages over FDs.
Ask tax gurus Mihir Tanna, Samkit Maniar, Vivek Lala, Anil Rego, T S Khurana and Mahesh Padmanabhan your Budget-related tax questions
rediffGURU Yogendra Arora answers readers' personal income tax queries.
The season for investment in tax saving instrument has started. Here, is an investment avenue to save tax that is cheap and lets you participate in India's economic growth story.
Don't end up claiming tax by just referring to Section 80G. There are some sub-sections also.
In sops for the middle class, Finance Minister Nirmala Sitharaman on Tuesday hiked standard deduction by 50 per cent to Rs 75,000 and tweaked tax slabs under the new income tax regime to provide more money in the hands of salaried class with a view to boost consumption. She said salaried employees in the new tax regime could save up to Rs 17,500 in income tax annually following the changes announced in the Budget. The standard deduction for salaried employees is proposed to be increased from Rs 50,000 to Rs 75,000 annually.
Young investors with a higher risk appetite are better off with a combination of term insurance and equity funds.
Equity linked saving schemes, ELSS, became popular because they saved you taxes. Now the same ELSS funds have shown that investors can make money as well.
Post the change in debt fund taxation in March, a lesser-known hybrid fund has emerged as one of the alternatives for fixed-income investors. Equity savings schemes, the smallest hybrid fund category in terms of assets, have raked in around Rs 6,000 crore this financial year (FY24) so far compared to Rs 1,100-crore outflow in FY23. The inflows along with a strong performance led to a 50 per cent surge in assets under management (AUM) to Rs 24,100 crore during April-November, shows data from the Association of Mutual Funds in India (Amfi).
Learn to track your ITR's progress and correct any errors.
One of the best ways to take the time to research and plan well in advance, is to start on this exercise right in the beginning of the financial year and not at the end of the it, when there are bound to be different constraints on the cash flow and also confusion over what to choose in the last minute frenzy.
This is an equity diversified fund and investors enjoy both the benefits of capital appreciation, as well as tax benefits.
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
A complete guide for income tax deductions under sections 80D, 80DD and 80DDB which relate to medical expenses and health insurance/mediclaim. Good understanding will help you in substantial tax savings.
Our advice: engage the services of a qualified investment advisor, make an investment plan for your tax-planning investments and stick to it; finally don't deviate from your risk appetite.
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