If you invest Rs 1.5 lakh in tax-saver ELSS funds in a financial year, chances are that you will not get the full tax benefit on the invested amount of Rs 1.5 lakh. Why so? It is because from July…
Read More Rs 1.5 lakh (+ Rs 500 more) required to get full Rs 1.5 lakh ELSS tax benefit
There is a change in the TDS rules for PPF withdrawals. Going forward, if you haven’t filed your income tax returns (ITR) during the last 3 financial years, then your PPF withdrawals will witness TDS (or tax deduction at source).…
Read More TDS on PPF Withdrawal: Pay 2-5% if not filed ITR in last 3 years
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 mutual fund investors invest a lumpsum amount to take benefit of sudden and sharp market movements. And they want to get the same day’s NAV when they invest. But this isn’t as easy as it might seem now. As…
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…
When investors realize the benefit of direct plans over regular plans of mutual fund schemes (like direct plans always give higher returns than regular plans), the common reaction is to try and shift from regular to direct mutual funds. The…
Read More Will switching from Regular to Direct plans attract capital gains tax (2021)?
If you have sold residential property and have generated profits (capital gains), then you will have to pay capital gains tax on it. But there are a few ways to save tax on selling your property. How? The Long Term…
Read More How to save tax with Capital Gains Bond 54EC on selling house property (2021)?
