How not knowing Emergency Funds makes you a Rookie
What if you lost your job or got injured? How would it affect you financially? ‘Emergency funds’, well the word says it all. It’s a fund used to meet your emergency needs. Many people do not know the meaning of emergency funds. They do not realize the importance of having one. Emergency funds are kept so that when an unplanned event occurs, there are funds available to pay...
New Tax Regime Vs Old Tax Regime
In the Union Fiscal Budget 2020 unveiled by the FM, Nirmala Sitharaman announced a new and simplified income tax regime with revised income tax slabs and tax rates. This new tax system is optional to the taxpayers and it is not mandatory to opt for a new tax regime. To put it simply, the assessee can either choose the New Tax Regime or continue to follow the Old Tax Regime depending on what...
When Is The Right Time To Start Tax Planning
Waiting for the year-end to start planning your taxes? You might be wrong. Tax planning should be done as early as possible.When it comes to tax planning most of you delay your online tax preparation process either to the last financial quarter of January-February-March or to the last financial month of March. Why begin tax planning early in the financial year when you have to file your...
PPF – One Of The Best Tax Saving Instrument
PPF is one of the most popular tax saving as well as investment instruments as it comes with EEE tax framework. Additionally, PPF comes with so many features that it is difficult to resist. This article will focus on everything related to PPF. What is PPF? PPF refers to Public Provident Fund. This is a unique investment instrument that comes with long term time horizon. It is best...