Among the many things Prime Minister Narendra Modi is likely to talk about in his fourth Independence Day speech this month is a proposal to change a 150-year-old practice that goes behind fixing India's Budget and much of your financial planning. He may push for a January-to-December fiscal year instead of the current financial year — from April to March — that was adopted in … [Read more...] about Why PM Narendra Modi wants India to dump a 150-year-old financial habit
Tax Optimization
Restructure your salary this week, save additional tax with NPS
April & May is the time when your company allows you to restructure your CTC which helps you to optimize your taxes and accordingly declare your investments. Moreover, your company has rolled out the New Pension System (NPS), now employees can save additional tax of up to 1-3% of their basic salaries. If a company puts 10% of the basic salary of an employee in the NPS, that … [Read more...] about Restructure your salary this week, save additional tax with NPS
EIGHT reasons to invest in the Sovereign Gold Bonds
The Sovereign Gold Bonds scheme that opens on 24 April is a golden opportunity for those wanting to invest in the precious metal. Resident Indians, HUFs, Trusts, Universities and Charitable Institutions can apply. Here are five reasons why you should go for these bonds. Just like gold but no making charges: The bonds are linked to the price of gold so investing in these bonds … [Read more...] about EIGHT reasons to invest in the Sovereign Gold Bonds
Lalwani can cut tax by Rs 1.6 lakh via pay structure revamp, NPS
Bengaluru-based IT professional Jitesh Lalwani pays a very high tax because his salary structure and investments are tax inefficient. Taxspanner estimates that Lalwani’s tax can be reduced by nearly Rs 1.6 lakh if the pay structure is rejigged, he saves more for retirement and buys health insurance for his family and his mother. Lalwani should ask his company for reimbursement … [Read more...] about Lalwani can cut tax by Rs 1.6 lakh via pay structure revamp, NPS
Beyond a simple retirement option: How to save taxes through NPS
When you plan your taxes for the next fiscal, consider subscribing to the National Pension System (NPS). It not only helps you build a retirement corpus, it can also help you save an additional ₹15,450 in yearly taxes. Here’s how. What is NPS? NPS is a market-linked and defined contribution pension plan that needs you to keep contributing till the age of 60. The minimum annual … [Read more...] about Beyond a simple retirement option: How to save taxes through NPS
