There is a small difference in the following 2 questions: SHOULD I invest more than Rs 1.5 lakh in ELSS funds? And next one is CAN I invest more than Rs 1.5 lakh in ELSS funds? As you would have…
Read More Should I invest more than Rs 1.5 lakh in ELSS funds?
Many people have a goal like that - to have Rs 1 crore corpus someday. Its another matter whether it would sufficient or now (read why here). But most Indians focus more on tax-saving that anything else in their financial…
When it comes to wealth creation and tax-savings investment options, an equity-linked savings scheme (or ELSS) is one of the best instruments to save taxes and generate good returns. But many investors are not sure about how many ELSS funds…
Yes. This is a very common mistake that many ELSS investors make. They invest in a different new ELSS scheme every year and as a result, end up with several ELSS schemes after a few years. One thing to understand…
It is that time of the year when people are looking for some last-minute tax saving. And amongst the many available tax-saving options, the tax-saver ELSS funds are one of the popular ones. It has the potential for generating high…
Read More SIP vs lumpsum in ELSS Funds tax saving: Which is better?
Can both husband and wife claim income tax deduction for home loan repayment? Or, How do I claim tax benefit on a joint home loan? Or, Can both husband and wife claim housing loan benefits? These are some questions with…
When it comes to tax-saving in India, it is very important to understand the meaning and difference in terms like EEE, EET and ETE. During tax season or while having tax-related investment discussions, these three terms are widely thrown around.…
The Budget 2021 changed the EPF interest taxation rule (details here). Now if the employee contribution to PF (via EPF and/or VPF) exceeds Rs 2.5 lakh in a year, then the interest on the additional amount (above Rs 2.5 lakh)…
Read More Should you still invest more than Rs 2.5 lakh in EPF?
In a good news for senior citizens above the 75 years of age, the in the Union Budget 2021 has announced that no income tax filing (ITR Filing) will be required for seniors citizens above 75 years of age and…
Read More No ITR filing for senior citizens above 75 years with only pension, interest (Budget 2021)
You may have started investing in mutual funds few years back without giving much importance to whether you invested in growth option or dividend option (or now called Income Distribution cum Capital Withdrawal option) or regular plans vs direct plans…
As the country has been locked-down for next few weeks (and hopefully not more) due to Coronavirus, there is some relief for tax savers. Many were anxious about missing the due date of March 31, 2020 for investing in tax…
Read More Extension for Tax Saving in FY 2019-20: Till 30th June 2020
The Budget 2020 reworked the income tax slabs. Now, 2 tax regimes will co-exist and give taxpayers a choice. The old one comes with higher tax rates but offers a host of exemptions and deductions. The new one will have…
The Budget 2020 proposed to restructure the income tax slabs. And the Budget 2021 (for FY2021-22) did not make any further changes to this structure. So it's natural that people will begin asking: Which is better for tax-payers in India:…
Read More New Vs Old Tax Slabs FY 2021-22: Which is Better + Calculator
Mutual funds in India are ideal investment options for wealth creation as well as saving for all your financial goals. But if you are an investor in these, you should be very clear about how these mutual funds are taxed…
Read More Latest Mutual Fund Taxation Rules (2020 2021): How Mutual Funds are taxed in India?
The real purpose of purchasing life insurance is to avoid tragic stories like this. But many still wrongly feel, that life insurance is a waste of money. But luckily and thanks to our government’s tax-saving policies, they still end up…
