NPS vs PPF is not an easy question to answer, but why should you face such a question? Because no one has an unlimited amount of money to invest. Therefore, when we must make an investment choice, "This or That" or "X vs Y" or "Which is better" questions invariably pop up. Whether we talk about tax-saving or retirement or creating wealth, you will face such dilemmas. … [Read more...] about NPS vs PPF: Which is better?
Starting January, you will be running around to make investments in tax-saving instruments or collect proofs for such investments already made. Most of us are aware of the tax deductions available for premium paid for life insurance and pension plans, investments made in ELSS, PPF and EPF and principal repaid on a housing loan. However, there are many lesser known tax benefits … [Read more...] about 15 lesser known Income Tax Deductions
Tax saving season is here. In a few days, you will get an e-mail from Human Resources department to submit proofs for investments you had declared at the start of the year. Most of us leave tax-saving investment to the last quarter of the financial year. You are no different and have not yet started. Non-submission of proofs will lead to significantly higher income tax outgo … [Read more...] about How to Save Income Tax? – Part I (Section 80C)
About the time of the year when you will receive your annual performance bonuses and salary hikes. I do not expect everyone to be happy with the outcome of the appraisal cycle. However, it cannot be denied you will have some excess cash in the form of bonus at the end of April or May. How do you plan to use this bonus amount? Do you plan to purchase the latest iPhone or a … [Read more...] about How to use your Annual Bonus effectively?
A few months, I had written a post on “Should you invest in NPS?” And it is a fairly popular post on the blog. However, if you go through the comments section of the post, it would appear as if the post was about “How do I invest in NPS?” or “How to maximize tax benefits from NPS?” Not many asked questions about merits and demerits of NPS. It appears very few really cared … [Read more...] about Don’t invest just to save taxes
NPS (New Pension Scheme or National Pension System) has drawn attention of many investors since it got a few exclusive tax benefits. With the financial year drawing to a close, the interest has got even stronger. NPS is a relatively new product. Taxation of maturity proceeds of NPS has been a subject matter of great speculation over the last year. Rules for partial withdrawal … [Read more...] about Common Doubts about NPS
Financial year is drawing to a close. In a few weeks (or perhaps months), tax-payers will start scrambling for the tax-saving investments. You have already made declaration to your employer that you will be investing (or purchasing) certain amount in specific tax-saving products. Now is the time to meet that commitment. What should you do? Which is the best tax-saving … [Read more...] about Which is the best Tax-Saving product?