Home Loans for tax savings There are three amazing ways in which you can save taxes on home loans for tax savings income Under Section-80C, you can claim a deduction of Rs.1,50,000 on the principal amount repaid in the current financial year. Section 24 allows you to claim a deduction on the interest paid on …
Tax Savings Income in 2024: All You Need to Know Read More »
The Income Tax Act, 1961, allows deductions on certain tax saving investments that you can claim to reduce your overall taxes. Here are 9 types of tax saving investments that you can make and save up to a maximum of 1,50,000/- from your taxable income. All of the following investment strategies are allowed under Section-80C. …
The Income Tax Act in India provides certain deductions that one can claim. You get to make tax saving investments for yourself and at the same time get a deduction from your taxable income. Resultantly, you have to pay less tax. Let us have a look at the investments that you can make under Section- 80C, …
Best Tax Saving Investments Under Section 80C, 80CCD & 80D Read More »
Debt Management- Debt is a loan that needs to be repaid at a stipulated period or periods along with a fixed rate of interest. E.g., Mr. Sam might have to repay an amount of $6000 at 6% p.a. after 6 years. So, he would pay a lump sum of $8160 ($6000+ $2160) at the end …
What is debt management and 6 Important Types of Loans? Read More »
A debt management plan is formulated to mitigate and settle the debt. What kind of debt? How does a debt management plan work? PROS OF A DEBT MANAGEMENT PLAN CONS OF A DEBT MANAGEMENT PLAN These are the cons of a debt management plan as given below. Start your reading goal right here and also …
Important Pros and Cons of Using a Debt Management Plan in 2023 Read More »
ELSS (Equity Linked Savings Scheme) How is ELSS different from regular mutual funds? The returns on regular mutual funds are taxed normally according to the tax slabs in India. However, ELSS(Equity Linked Savings Scheme) is special. ELSS is such a mutual fund category upon which the Income Tax Act, of 1961, allows a tax benefit …
When people do not withdraw their money from mutual funds, it helps the fund manager to withstand the volatility of the market. In this way, ELSS will be an instrument for wealth creation for you in the long term rather than a mere tax aversion tactic in the short term.
In recent times, there has been a wave of individual apps/websites that provide an easy pathway to investment. Applications like Paytm Money, ET Money, and Groww, permit investing directly at no commission. A consolidated view of your holdings and easy monitoring are extra blessings of this route.
Mutual Funds – In recent times, there has been a bombarding of mutual fund ads running across all types of media. Everyone seems to be saying that a mutual fund is a great investment option. But do you know how to pick the best mutual fund for yourself? If not, no worries. Sharing with you the top factors, based on which you will be able to correctly analyze and choose the best mutual fund.
Tax planning is a skill that anyone can learn through a little bit of effort. However, it is a skill that everyone should educate themselves on.
The idea of buying and utilizing someone else’s money sounds good to a lot of people. But whether your action of taking a loan is fruitful or not, depends upon whether you are acquiring a liability or an asset.
In order to get a loan, the first step that you need to take is – to apply for a loan application. You have to apply for the amount of loan that you seek from a particular bank. How to choose a bank? You should compare the interest on home loans given by various banks. You can do so by going online and checking the websites or you could simply visit your nearest bank and make an offline inquiry.
A debt management plan (DMP) will only be successful when it is executed with utmost diligence. Proper budgeting and a thrifty mindset will help run the debt management plan smoothly.
A plan was drafted to minimize the debt burden and ultimately eliminate it. Someone who is overburdened with debt and does not know how to get out of it needs a debt management plan (DMP).
What Is Money Management? It simply means managing your income in a way that you can live a decent life while amassing wealth as time passes. There are a lot of people who have zero knowledge about managing their money. They get their salary at month-end and splurge all of it. The result – they …
Introduction The concept of Bitcoin ETF (Exchange-Traded Funds) emerged after investors and brokers noticed the high prices of bitcoin and other cryptos were becoming more popular. These are pools of bitcoin-related assets offered on brokerage exchanges to be traded as ETFs. The sole reason for these ETFs is to give retail investors who are not …
What is a Bitcoin ETF- How does it work, and their 2 important types? Read More »
Bitcoin is a virtual international currency designed to act as money and form a payment beyond the control of any person, group, or entity, thus cutting the need for third-party involvement in transactions
Personal finances are managing your money and planning your future. They can help you to improve your personal finance skills.
Personal Finances According to the Women & Power survey conducted in 2022 by LXME, it has been revealed that only 9% of women in India have personal finances to invest independently through self-learning. 55% of women are either not investing or are unaware of investments. A shocking disclosure was that 33% of women do not …
How women can take charge of their personal finances; here are 7 effective ways Read More »
Why tax planning should be an all-year-round activity? Tax planning is done to manage one’s income in a manner to reduce the tax liability to the lowest. A proper tax plan utilizes the tax deductions in the most optimal way. Most people are aware of the tax deductions they are allowed by the Income Tax Act. …
Why Tax Planning Should Be an All-year Round Activity in 2023 Read More »
