New Tax Regime, Extra Cash: Here’s How to Use It Wisely
With the new tax regime, individuals earning a taxable annual income of Rs 25 Lakhs or more can save up to Rs. 2,32,500, translating to an extra monthly amount of around Rs. 19,000. The question arises, how can you make the most of this additional money? Here are some tips to ensure optimal utilization: Building […]
Tax-loss harvesting is a double-edged sword!
You must have read articles floating on the internet encouraging you to book a loss in your equity investments to set off against capital gains made in the past and thereby, reducing the tax liability. This strategy is popularly known as “tax-loss harvesting.” While one can defer the tax liability with this strategy, it is […]
Markets are falling – Should I sell my shares?
How many times have we heard this sentence? At every market fall, the media is full of such headlines. I wrote an article on this in November 2010 and it is relevant even now. Back then, I lived in Mumbai and would travel from my residence in the central suburbs to my office in Ballard […]
Markets crashed – Should I sell my shares?
How many times have we heard this sentence? At every market fall, the media is full of such headlines. I wrote an article on this in November 2010 and it is relevant even now. Back then, I lived in Mumbai and would travel from my residence in the central suburbs to my office in Ballard […]
Opportunity to rectify tax mistakes relating to political donations
Opportunity To Rectify Tax Mistakes Relating To Political Donations Many taxpayers are receiving communication from tax department to check the deductions claimed on account of donations made to political parties and to rectify their tax returns if such donations are incorrect. As per the current tax laws, such rectification of return (referred to as “Updated […]
Clarity on taxability of amount received under Unit-linked Insurance Plans
Monies received from Unit-Linked Insurance Plans (popularly known as ULIPs) are exempt from tax unless the premium paid for one ULIP or the sum total of premium paid for multiple ULIPs is more than Rs. 2.5 lakhs for any year. The amount received on the maturity of such ULIPs is fully taxable. However, the Income […]
How the marginal tax relief works?
There have been articles circulating in social media that there is zero tax liability up to Rs 12 lakhs (excluding standard deduction) and if the income increases by one rupee, tax liability shall be greater than Rs. 60,000 resulting in less money in the hands of the taxpayer. However, this interpretation is misleading and incorrect. […]
Old tax regime is dead!!
The new tax regime was first introduced in the financial year 2020-21 and since then the Government have made all the efforts to make the new tax regime more attractive as compared to the old tax regime. Budget 2025 has put a final nail in the coffin of the old tax regime, well, almost!! The […]
Budget from the lens of financial planning
Financial planning is a long-term process wherein we plan for our immediate goals as well as for goals which are decades away, whereas the budget is a short-term view of how things are expected to be in the next one or couple of years. It is foolhardy to make drastic changes in your financial planning […]
Public Provident Fund
How recent PPF guidelines impacts you? Three paragraphs on public provident fund (PPF) in a guideline issued by Ministry of Finance in July 2024 have created confusion in the investors’ mind regarding its impact on their existing PPF accounts. The confusion is even more if such PPF account is for the child. Various social media […]
