Empirically, the percentage of investments just before 3-6 months of tax filing climbs up while it becomes a bit subdued post the tax filing season. Why such a scenario? What is the relationship between tax filing and investment?
If you and your spouse earn similar incomes, then its best to opt for an equal co-ownership of the property and split the tax benefits of the home loan equally as well. In case one of you fall under a smaller tax bracket, it is good to let the partner with the higher pay make… Read More »
The place of residence is significant in HRA calculation as for a metro the tax exemption for HRA is 50% of the basic salary while for non-metros it is 40% of the basic salary. This holds true especially when you work at a metro and reside at a non-metro. In this case, your city of… Read More »
Every year the Government opens up new options for tax savings to encourage the tax payers utilize their monies better! However, most of the time, tax payers tend to put off saving plans to the last minute and miss out the right investment opportunities. Here is a list of tax saving options that will meet… Read More »
If you are thinking about putting all your eggs in one basket, better not do that because Section 80C has a limit of Rs. 1 L. That is, if you have made investments of Rs. 1.50 L in the investment instruments mentioned above, only Rs. 1, 00,000 out of it would be eligible for deduction… Read More »
For the retired people, the Post Office Monthly Income Scheme is a good savings instrument. The interest is 8% divided on a monthly payout basis. The payout if not required can be channeled to a recurring deposit. The effective returns increases by almost 10% by doing this. The interest can be credited to a savings… Read More »