The 50/30/20 rule provides a plan to budget your after-tax income into different spending buckets. How do you plan your expenditure? You all have access to limited financial resources and multiple avenues to spend them. So how do you allocate your scarce financial resources among your multiple competing
When employees quit their job and move to another organisation in the middle of the financial year, the new employer requires certain details before paying their salaries. This includes information about the income paid by the previous employer, perquisites, and tax deducted at source (TDS) during the financial year. Section
Whether you have just started to earn or have been drawing a salary for years now, financial planning is a must. Especially if you are in the new crop of salaried professionals, you might be excited and wondering how to spend your money whenever your salary is credited. However, most
As the end of the financial year comes closer, it is time to look at your tax liabilities and start preparing to file the Income Tax Returns (ITRs). Knowing about the basic rules, income tax slab rates, and exemptions can help you plan your taxes well. Income is classified under
The Income Tax Department is responsible for levying, administering, recovering, and collecting direct taxes in India. Simply put, it lays down different rules and regulations under various sections related to direct taxation in the country. One such section is 194A, which is discussed below: What is section 194A?This section
When you earn income, you are liable to pay tax on it. The Income Tax Act, 1961 governs the laws related to the payment of tax in India. The act has multiple provisions that help you reduce your tax liability. One of the commonly known sections is 80C, which allows
Finance is an important aspect of your life and managing it is not a simple task. For efficient financial management, you need to consider multiple aspects like budgeting, saving, investing, and determining future goals. Here is a handy guide to help you learn more about managing your finances to maximize
As more women become financially independent, they are trying to figure out where to put their hard-earned money in to get maximum benefits. Financial independence is the first step towards achieving the ultimate goal – financial freedom. Although women may earn a huge amount, often, they are stuck due to lack
Several people in India do not have any financial plans for their post-retirement years. However, during these critical times when healthcare expenses are constantly on the rise and there is little dependence on children for financial assistance, ensuring your retirement corpus provides maximum benefits is important. Why is retirement planning
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