As the financial year 2024-25 approaches its conclusion, many investors are evaluating tax-saving options to optimise their portfolios. Among the popular choices are fixed deposits (FDs), Public Provident Fund (PPF), and the Senior Citizens Savings Scheme (SCSS), all of which are eligible for deductions under Section 80C of the Income Tax Act, 1961. These instruments … Read more
In a recent announcement, the Centre has decided to maintain the current interest rates on post office savings schemes for the period from April to June 2025. This decision was confirmed through a circular issued by the Department of Economic Affairs under the Ministry of Finance on 28th March 2025. This decision affects a range … Read more
As the financial year draws to a close on March 31, taxpayers are focusing on maximising their savings through investments under Section 80C of the Income Tax Act. Among the various options available, Equity Linked Savings Schemes (ELSS) stand out as a favourable choice for both tax savings and potential long-term wealth creation. Under Section … Read more
Query: I strongly believe in the benefits of SIP and SWP. Currently, I am investing Rs 10,000 per month and expecting a return of 12% per annum. My plan is to continue this investment for the next 20 years, with an annual increase of 10%. I am 40 years old and am considering this approach … Read more
I am a 40-year-old salaried individual earning a monthly salary of Rs 2.75 lakh, while my wife brings home Rs 1.35 lakh per month. She manages our household expenses, allowing me to focus on saving and investing for our future. My current plan involves allocating Rs 1.5 lakh per month towards SIP investments with the … Read more
Tax calculations: The Centre has once again aimed to enhance the appeal of the New Tax Regime by introducing lower tax rates and reducing deductions. This restructuring aims to simplify taxation, while the Old Regime continues to provide tax benefits through various exemptions and deductions. The proposed income tax slabs in the Union Budget 2025 … Read more
Senior Citizens Savings Scheme (SCSS): Planning for a secure and steady income after retirement is a priority for many. The Senior Citizens Savings Scheme (SCSS) offers retirees a reliable way to invest their funds while ensuring regular quarterly returns. Backed by the government, this scheme provides one of the highest interest rates among small savings … Read more
Budget expectations: Finance Minister Nirmala Sitharaman is set to unveil the Union Budget on February 1, 2025, a highly anticipated event for taxpayers nationwide. The segment on income tax is of particular interest, as individuals eagerly await any potential changes that could offer relief. Speculation for this year’s budget centers around possible modifications to tax … Read more
Children’s Day and investment tools: Parents often focus on ensuring a secure future for their children. It is crucial to make wise investments in order to achieve financial stability as they age. While navigating the world of finance may appear intimidating, following a systematic and disciplined approach can lead to significant wealth accumulation for individuals. … Read more
The Centre is in a “wait & watch” stance on small savings collections, anticipating a surge in deposits during the fourth quarter (Q4) when most investors contribute, according to an official who spoke to Business Today TV. “Most of our major collections will come in March, and we’re closely monitoring the figures,” the official added. … Read more