The government aims to reduce your tax liability by offering several exemptions and deductions through different sections under the Income Tax Act, 1961. If you plan your taxes well, these deductions and exemptions can help reduce your liability by a significant amount, especially if you are salaried. The most popular
To align with the objectives of the ‘Beti Bachao Beti Padhao’ campaign, Prime Minister Narendra Modi launched the Sukanya Samriddhi Yojana (SSY). It is a government-backed small savings scheme that enables parents to secure the financial future of their daughters. You may open an account with an authorized private or
The Government of India has proposed to exempt senior citizens having only pension and interest incomes from filing income tax returns (ITRs). However, the newly added Section 194P of the Income Tax Act, 1961 requires banks to deduct taxes on senior citizens aged over 75 years earning pension and interest
Although there are several precious metals, gold is one of the most preferred metals in the country. For Indians, gold has more than just an investment value, and traditionally, most people bought this precious metal in the physical form, such as jewellery , coins, or bullion.ve Investing in gold is
You must invest your money to ensure a stable financial future. You may choose from different types of financial instruments to put your money in. An investment portfolio is the collection of various products like stocks, mutual funds, bonds, fixed deposits, cash, and other assets. Read on to know everything
Technological advancement has modified the banking industry and transformed the communication between banks and their customers. Retail banking is changing by the day and traditional banks are facing competition from digital banks that offer access via an Internet-connected smartphone or any other device. Digitization allows you to access banking products
Albert Einstein said, ‘Compound interest is the eighth wonder of the world. He who understands it, earns it, he who doesn't, pays it.’ So, the compounding effect on a regular investment of a small amount over the long term can help you to accumulate a large corpus. Often, many individuals
The government offers several ways to legally reduce your liability and save taxes. There are various tax-saving avenues where you may invest your money to reduce your tax liability. You have two options to save taxes; the first is tax deduction and the second is tax exemption. In this article,
