Buying your home is one of the biggest achievements in life. However, it is also one of the most important financial decisions. Therefore, you should take your time and not rush into any decision. With the rising real estate costs, it is most likely that you may not have the
To reduce the tax burden and offer relief to taxpayers from multiple compliances, the Government of India incorporated a simplified scheme for businesses. Companies that opt for this presumptive tax scheme do not need to maintain regular books of accounts. The presumptive scheme allows taxpayers to declare income at a
Chapter VI A of the Income Tax Act, 1961 provides the details on the permissible deductions from your gross total income under sections 80C to 80U. According to section 80A, the permissible deductions cannot be more than your gross total income. Medical expenses are subject to taxes and can be
The Income Tax Act, 1961 offers several deductions and exemptions that allow you to reduce your taxes. Chapter VI A of the act lists down the various deductions that help you enjoy tax benefits. These deductions are available by putting money in different types of financial instruments. Such investments reduce
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