However, the new regime still allows employers to reimburse the cost of mobile phones, laptops, or car leases if they are used for official purposes. Some companies allow you to buy these devices after 12 months of use.Ā This is one hidden benefit that you can unlock as an employee in the new regime.Ā How…
As the academic year comes to a close, senior graders across the nation are finalising their higher education plans, whether they are looking at options to study further within the country or overseas. An important consideration here is the cost of education. For many families, education loans become a crucial tool in bridging the financial…
Should you take a loan, sell assets, or start investing early? Hereās how to navigate the financial maze of higher education smartly. The ā¹1 crore question You must start planning as soon as your child is born. Take a typical graduation in a premier IIT and then a post-graduation at ISB. The 4-year IIT course…
Can you get tax benefits for personal loans? While personal loans, unlike home loans, do not outright qualify for tax benefits, if you use it for home construction, purchase or renovation, you can claim deductions on the interest paid. Similarly, you can get tax benefits on the interest paid on personal loans used for meeting…
I am 65 years old. I retired from a private job and live with my wife in Delhi. My primary source of income is earnings from the stock market and fixed deposits. Can a pension plan help me optimize my tax-adjusted returns compared to a mutual fund or fixed deposit? -Name withheld on request Pension…
However, the relaxations have reduced the tax advantages of equity investments for small and medium investors, especially those with annual incomes of up to ā¹24 lakh.Ā Historically, investors often chose equity investments like arbitrage funds and hybrid funds like balanced advantage funds for their preferential tax treatment compared to regular income.Ā The changing tax structure…
While the new tax regime trims down the deductions and exemptions available to taxpayers, it still offers several strategic benefits that can lighten the load for individual taxpayers.Ā Hereās a breakdown of what you can still claim under the revamped system. Deductions For salaried individuals who opt for the new tax regime, thereās a standard…
The Senior Citizens Savings Scheme (SCSS) is a government-backed savings initiative tailored for senior citizens to ensure a secure and regular income post-retirement. With guaranteed returns, tax benefits, and a straightforward process, it is one of the most reliable financial tools available for retired individuals in India. This scheme is available through Post Offices and…
The Sukanya Samriddhi Yojana (SSY), a small deposit savings scheme introduced by the Indian government in 2015, continues to provide attractive returns for parents investing in their daughters’ futures. As part of the Beti Bachao Beti Padhao campaign, the SSY aims to support educational and financial needs of girl children across India. For the current…
Mumbai: The government needs to explore options such as tax benefits to encourage individuals to keep more money in bank deposits, said Ashwini Kumar Tewari, managing director of State Bank of India, adding to the chorus on Indiaās worst deposit crunch in two decades. āWe have to think through various things, what are the options….
