The National Pension System (NPS) was launched by the government in 2004, primarily for government employees. In 2009, it was made available to all citizens. You may invest in this pension scheme until retirement. When you turn 60 years old, you are allowed to withdraw 60% of the accumulated corpus,
The Income Tax Act, 1961 offers several benefits and deductions when you invest in certain financial products. Section 80C is a clause in the Act that lists the investments and expenses that are eligible for income tax deductions. The maximum deduction under this section is limited to INR 1.50
Indian taxpayers may miscalculate their taxes and end up paying more money than they owe to the Income Tax Department. Luckily, if you overpay your taxes, you are eligible for an income tax refund. When that money hits your bank account, it is an exhilarating feeling. You can choose to
The Employees’ Provident Fund (EPF), commonly known as Provident Fund (PF) is an investment cum savings option that eligible companies offer to their employees as a retirement scheme. The employees invest 12% of their basic pay in the EPF each month, and the employers contribute the same amount to the
According to the Income Tax Act, 1961, payees are required to pay a specified amount as Tax Deducted at Source (or TDS). It is applicable on professional fees, dividends, interest from securities, royalty, and commission. Before the advent of the internet, TDS return filing was a challenging task. But thanks
All working professionals, salaried or self-employed, are obligated to pay a specific portion of their money to the government once they reach the minimum income threshold. Tax planning plays an instrumental role in deciding how much you pay to the government. If you fail to plan your taxes, you might
If you are looking for ways to grow your money, you may consider putting it in mutual funds. Wondering what are mutual funds? We have got you covered. This type of investment is made by Asset Management Companies (AMCs). They collect money from institutional and individual investors and put it
NPS offers compound interest. You can use Jupiter's National Pension Scheme calculator to determine how much returns you can expect from your investment.…
Investing is the best way to effectively grow a fortune over time. Many people struggle to determine where to put their money as all plans come with different rules and regulations. Presently, two popular financial instruments are unit-linked insurance plans (ULIPs) and mutual funds. This article explains the differences between
