Availing of necessary deductions and exemptions Taxpayers should use all available deductions and exemptions to reduce their tax liability. Examining the Income Tax Act is essential for comprehending the deductions and exemptions accessible to you while filing your Income Tax Return (ITR) in India. The deductions and exemptions vary based on your category whether you … Read more
As a retail investor, when you zero in on an investment option, you are likely to have a key goal of wealth creation and of ensuring the safety of funds in the long run. One of the most common investing options for common investors are fixed deposits (FDs). Besides FDs, however, investors tend to invest in small savings … Read more
A recent article about becoming a “Crorepati” by simply investing in the Public Provident Fund (PPF) has caught many people’s attention. The catch is “The investor must be willing to stay invested for 30 years”. In a country, where there are more Dream11 subscribers than mutual fund investors, the proclivity to earn money quickly is … Read more
In this conversation with Mint, Meenakshi shares insights about his investments and discusses the growth of fintech and its impact on mutual funds. What is your asset allocation? My portfolio looks something like this: 63% in equity, 30% in debt, 5% in cash for emergencies, and about 2% in real estate. I aim to maintain … Read more
Public Provident Fund (PPF) is a super investment vehicle with EEE status – it provides deduction at the time of investment , the interest earned is also tax free and the maturity proceeds are also tax exempt. Currently the rate of interest for PPF is 7.10%. PPF is 100% safe as it is backed by … Read more
The most immediate benefit of a fixed income is its contribution to effective budgeting. With a predictable paycheck, Gen Z can allocate funds for essential expenses like rent, utilities, groceries, and transportation. This allows them to plan their spending more effectively, ensuring they can meet their basic needs without living paycheck to paycheck. Additionally, knowing … Read more
As the financial year draws to a close, various income tax-saving investment avenues, such as the Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and National Pension System (NPS) necessitate minimum contributions to maintain their active status. Therefore, if you hold an account in any of these schemes and haven’t made any deposits for the … Read more
If you want to save income tax for the investments made in this financial year (2023-24), do not forget to invest before March 31 this year. With only a few days remaining in this financial year, taxpayers are urged to invest as soon as they can. Meanwhile, RBI has told all agency banks dealing with … Read more