In India, most taxpayers tend to think and probably aware that tax savings end with just investing in specified instruments such as life and health insurance premiums, PPF, NSCs, five year tax deposits and equity mutual funds etc. For them, arranging the money for tax saving instruments is a bigger challenge than worrying about the […]
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Category: Tax Planning
Want better post-tax yield? Go for Fixed Maturity Plans (FMPs)
While investing in bank fixed deposits, it is very much sure that you have fed up with your post-tax interest income as the income tax eats up such a large chunk of your interest income. Because, interest received from FDs is subject to tax at the investor’s marginal rate of tax, which can range from […]
5 Best Tax Planning Funds 2014
Most taxpayers ignore tax-saving mutual fund schemes as they could not see the stock market movements, hence they are happy with risk-free instruments such as 5 year tax-saving fixed deposits and public provident funds offer just 8-9% return. In the mutual fund industry parlance, equity-linked saving schemes, or ELSS are called as ‘Tax Planning Funds’ […]
Align Financial Goals with Tax Saving Products!
Mayhem of the tax-saving investment season has come again. It always falls during January to March in every financial year. With less than two months left, for Indian investors have had vast number of tax-saving investment products is available in the market where they feel confused, scared and helpless. And the most of them are […]
House Purchase in the Tax Edge
Sushil Kumar, 35 and Reena Gupta, 33, Mohali-based software professionals have been residing at rented accommodation and contemplating to buy a new house for their own residence. Amidst so many choices in the real estate market, couple has to take the most important decision as they whether to go for a ready-to-move or an under […]
Are your Assets under the Purview of Wealth Tax?
Glad to know that you have generated assets more than enough, thanks to the biggest obsessions of Indian investors towards real estate and gold. Many people are not acquainted about wealth tax, it is the less famous sibling of income tax, which is payable on the wealth accumulated by individuals over the years. As it […]
Is your Pension Plan the hanging sword of taxation?
Ramesh Sexena, an IT professional aged 45 years having been lured by the touchy-feel advertisement of new launching of various pension plans. The pension product, which was meant to make his retirement easy, has played the devil’s role in his life. Let’s see that how Mr Sexena, got in pension trap as well as tax […]
How can You avoid Cascading effect on Gifts Received from your Relatives?
Death and payment of taxes are always painful. So, one question that goes through in the mind of every tax payer is “how can I minimize my tax liability?” Since, minimize tax liability is not always a bad or illegal exercise, unfortunate, there is also a tendency to reduce tax through malpractices or colourable methods. […]