The new tax regime became aĀ default regime in 2023 but Budget 2025 introduced a higher incentive for taxpayers by allowing zero tax for income upto ā¹12 lakh, following which there is an expectation that aroundĀ 90 percent of taxpayers will opt for it over old tax regime. However, one collateral damage of this is that most…
Thanks to Budget 2025, new tax regime has become even more lucrative now. With no income tax for those who earn up to ā¹12 lakh a year, taxpayers have one more reason to abandon choose new regime over old tax regime. This means more and more taxpayers will now choose the new tax regime, particularly…
Avir Tiwari’s wallet was so full that it couldnāt take it anymore. For the six-month-old boy, it wasnāt particularly a bad situation.Ā However, his dad, Ekansh Tiwari,Ā associate vice president of currencies at Natwest Group, certainly had a task on his hands.Ā For, Tiwari had to find a way to lock the surprisingly large amount the…
In FY 2023-24, the new tax regime became a default regime. This shift has led many taxpayers to wonder whether traditional tax-saving investments such as PPF (Public Provident Fund), NSC (National Savings Certificate), post office saving scheme and NPS (National Pension System) are still relevant for the purpose of investment. The tax-saving instruments, which were…
Small investors often look for a number of investing options for wealth creation. For long term investors, there are such options as equity investment, mutual funds and bonds. Conservative investors, meanwhile, tend to opt for fixed-income instruments such as fixed deposits (FDs), debt mutual funds and small savings schemes, also known as post office savings…
I wish to diversify my investment portfolio to align with my long-term financial goals. At 40, I have a monthly income of ā¹3 lakh, and expenses of ā¹1.5 lakh. I invest ā¹1 lakh per month in small, mid, and large-cap index funds through systematic investments plans (SIPs). My portfolio includes ā¹2.85 crore in mutual funds,…
Although many taxpayers anticipated the possibility of capital gains tax rationalisation in Budget 2024, not many were expecting the tax rates to be raised, said Saumya Aggarwal, assistant professor, department of commerce at Shri Ram College of Commerce, University of Delhi. In a telephonic interview with MintGenie, Aggarwal also spoke about the National Pension System…
In 2023, new tax regime became a default regime which means the taxpayers must opt out of the new tax regime to be able to claim tax exemptions given under sections 80C, 80D and 80G, among others. The provision under section 80C enables taxpayers to claim deduction for investing in various financial instruments such as…
