After a stellar 2023, the mutual fund industry sustained its growth momentum in 2024 with an impressive Rs 17 lakh crore surge in assets, driven by buoyant equity markets, robust economic growth, and increasing investor participation. Experts are predicting the positive trend will extend into 2025.
Once you follow these, it is also important to deploy your savings in inflation-beating investment avenues.
It's time to start planning your tax investments. Here are some new tax saving funds funds that have hit the market.
Income Tax department have released different tools to help you file your ITR-3 form easily.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
Doubling standard deduction to Rs 1 lakh, increasing tax break on interest paid on housing loan and rationalisation of capital gains tax regime are some of the expectations that consultancy firm KPMG has from the Budget 2024-25 to be unveiled on July 23 in Parliament. There has been a significant rise in medical expenses, fuel costs and overall inflation.
Invest in MFs for liquidity and choice of funds. Invest in NPS for the tax benefits, tax-free rebalancing, and for earmarked savings for retirement.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
It is advisable to file your ITR right away and not rely on potential extensions.
For the purpose of our discussion, we have chosen schemes which offer tax benefits at the time of making investment under Section 80C, i.e. Public Provident Fund & National Savings Certificate.
The higher the tax bracket, better the yields for these instruments
Here's an investment strategy for investments in tax-saving funds.
Donald Trump's exaggerated opinion of his dealmaking capacity can get him into trouble, observes R Sriram.
Here are some funds you can choose from if you want save tax and make some money in the bargain.
If the fiscal deficit target of 4.9% of GDP has to be met for 2024-2025, which the government must in view of the uncertainties and challenges emerging both domestically and globally, the finance ministry may see in the composition of the current year's capex a sliver of hope, notes A K Bhattacharya.
This is what taxpayers must know about mutual fund equity-linked saving schemes
To select the right fund, investors need to first evaluate their risk profile and also assess the funds on parameters like the investment style, performance and risk, among others.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Do you have financial planning queries? Ask rediffGURU Kirtan A Shah.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Should you go for a salary structure with high basic component? Is there a flip side to it?
rediffGURU Mihir Tanna answers your income tax queries.
The United Kingdom extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to carpet London in notes of 50 British pound almost four times over.
Prime Minister Narendra Modi on Saturday launched a scathing attack on the Congress party, accusing it of repeatedly "wounding" the Indian Constitution. He claimed that the Congress, driven by its "lust for power," has consistently undermined the principles of the Constitution. Modi, however, praised India's democratic journey since its independence, highlighting the country's strong democratic roots and its unwavering commitment to its founding principles. He underscored the importance of unity for India's future development and emphasized that the Constitution is the bedrock of that unity.
It's best to start your tax planning in the beginning of the year to help you systematically grow your savings coupled with the added benefit of tax saving realised at the end of the financial year.
The two leaders had a complex relationship yet formed a partnership and even after their parting of ways, the two admired each other in their efforts for India's freedom.
rediffGURU Ulhas Joshi recommends five factors you need to look at to evaluate the performance of two schemes.
In the sharp media focus on stocks, FDs and gold, small savings schemes have been largely ignored by the public. But they must form a part of portfolio of every investor who is looking to save tax by investing small amounts.
The government on Tuesday proposed reducing the long-term capital gains tax on immovable properties to 12.5 per cent from 20 per cent, but removed the indexation benefits to adjust for inflation, a move experts termed as "negative" for sellers.
When you conduct a tax-planning exercise, ensure that you look beyond just the returns while selecting a tax-saving fund.
Our advice for investors -- opt for funds like HDFC Long Term Advantage and HDFC TaxSaver which have proven track records to show for, over longer timeframes.
With less than 6 months left for the close of the financial year, smart investors would have commenced their annual tax planning. Tax-saving funds (also referred to as equity linked savings schemes -- ELSS) are popular avenues among risk-taking investors. Apart from providing benefits under Section 80C (investments in tax-saving funds are eligible for deduction from gross total income), tax-saving funds offer investor opportunity to invest as per their risk appetite.
Tax-saving investments should be part of the overall portfolio, but if you haven't had the time till now, just concentrate on saving as much tax as possible, says Arnav Pandya.
The government has proposed to dilute the controversial Fringe Benefit Tax, exempt savings account from the 0.1 per cent banking cash transaction tax and raise income tax exemption limit for women and senior citizens.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
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