Managing and planning finances can be a challenging task. In this section, we make the task simpler by providing information for a sound financial planning and secured life. The information provided under ‘Insurance Basics & Financial Advice’ is aimed at helping you make an informed choice as per your financial needs. The articles provide an insight into the various insurance categories, financial planning and taxation details.
3 Mistakes You Need to Avoid in Tax Saving Investment
5 Minute |
A tax saving investment is like a project. You need to keep a lot of things in mind. And amidst the rush of registering before 31st March, it seldom becomes possible to make the right decisions and assure satisfactory tax planning for salaried persons. However, with some precise knowledge, you can make the right decisions.
Short-term investments play a great role in distributing your money or your savings in different places and still saving it. In other words, making short-term investments is beneficial. Warren Buffet, the investment expert said it once, to never keep all your eggs in one basket.
Tax returns filing is that time of the year that makes you go through all your expenses you made this year and reflect on the same. Now, while filing a tax return for the first time, you can do it all by yourself just by gaining knowledge and gathering some information on the same, or by asking for professional help.
Trying to show income below the exemption limits is not a new phenomenon in India. According to data released by Finance Minister Arun Jaitley in the 2017-18 budget, only 1.72 lakh Indians showed their income to be more than ₹50 lakhs, which didn’t match the consumption pattern in the country.
Indians love travelling during holidays and the number of travellers has been rising in recent years. According to a report published by Google India, in partnership with Boston Consulting Group (BCG), by 2020, India’s domestic travel market is set to become a $48 billion industry.
There are times when high living expenses and rising inflation make you rethink your expense budget. Try as you might, you cannot cut down on essential expenses, and there are investments and savings funds to create as well.
Are you worried that most of your savings will be ruined when it comes time to pay your income tax? Don’t worry. Under Section 80C of the Income Tax Act of 1961, certain deductions are provided to taxpayers to lower their taxes.
The total income tax returns filed for 2017-2018 increased by 26%, with 99.49 new tax filers, says an article in The Economic Times. This substantial increase in taxpayers shows that people are becoming more responsible citizens of India.
A lot of people have different opinions when it comes to home loan protection schemes. Some are of the opinion that home loan protection can be clubbed with existing term insurance. Some even state that schemes like these often harm the buyers more than they benefit.
India is proud to have 53 national highways, making it a great place to plan a road trip. In fact, given the country’s geographic diversity, a road trip in India can be electrifying. It’s even more exciting when travailing along with friends or family who share a passion for adventure!
Term insurance plan is a type of life cover which provides coverage for a definite period of time and if, unfortunately, the insured expires during this term, then his/her nominee is paid a death benefit.
As living expenses mount and inflation hits your income, you may be starting to worry about the future. After completing all your family obligations, you wonder if you will have enough savings set aside for your retirement.
Taking life insurance plans for yourself and your family members has become vital in today’s times. Life has its uncertainties; – a phase of stability today might change into a period of instability tomorrow.