Tax Planning
5 min read
Set off and carry forward of losses in Income Tax
Navigate the complexities of income tax by mastering the set off and carry forward of losses…
5 min read
Understanding TDS on Purchase of Property
Tax Deducted at Source, more popularly known as TDS, is often a tedious process for the…
10 min read
Demystifying ESOP Taxation in India: A Comprehensive Guide
Dive into our comprehensive guide to unravel the intricacies of ESOP taxation in India and make…
6 min read
How to Save Tax on Capital Gains from sale of Residential house property?
Learn how to minimize your tax liability and maximize profits when selling a residential house property…
6 min read
Income Tax on Income Earned Online in India
Unlock the secrets of navigating income tax on your online earnings in India with our comprehensive…
4 min read
Understanding the difference between short-term and long-term capital gains in India
Understanding short-term and long-term capital gains is crucial for complying with tax laws and filing your…
4 min read
Can you file ITR for the last 3 years?
Introduction Whether you’re applying for a bank loan or filing a visa application, income tax returns…
4 min read
Benefit of opting for the New Tax Regime
Taxpayers are often confused when it comes to choosing between the new tax regime and the…
3 min read
How to Interpret AIS and TIS on the Income Tax Portal: A Comprehensive Overview
"Simplify your tax process as we demystify the Annual Information Statement (AIS) and the Taxpayer Information…
6 min read
Section 10 of the Income Tax Act
When we talk about saving on taxes, exemptions can make a world of difference. One section…
4 min read
Tax Planning: Meaning, Importance, and Benefits
Tax planning forms an integral component of an individual’s financial management. It involves organising one’s financial…
4 min read
How to Choose the Correct ITR Form: A Guide to Choosing the Right Income Tax Return Form
As the tax season approaches, one of the most crucial decisions taxpayers face is selecting the…
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Frequently Asked Questions
What is financial planning?
Financial planning is the process of evaluating your current finances and making a plan to map your journey to financial well-being.
It involves looking at all aspects of your financial life - income, savings, debt, investments, etc.
The aim is to understand where you stand today financially and then chart a course to get you where you want to be in the long run.
Financial planning provides direction and structure to your finances. It helps you intentionally move toward financial wellness.
The plan equips you to prepare for expected life events like retirement as well as unexpected events.
In short, financial planning bridges your present circumstances to your desired financial future. It gives you a path to follow.
What are the benefits of working with a financial advisor?
Working with a financial advisor can provide an invaluable perspective on your current situation. With the help of a financial advisor, you can assess your finances holistically - debts, assets, income streams, and more. With this comprehensive understanding, the advisor helps craft strategies tailored to your needs.
A financial plan crafted by a qualified advisor grants you agency over your financial life. It transforms vague anxiety about the future into proactive preparation. With expert guidance, you can map out actionable steps to strengthen your finances over time.
Why is financial planning important?
Financial planning is important because it provides clarity and control over your finances.
Having a financial plan helps you:
- Understand where you stand financially today
- Map out specific steps to improve your financial situation
- Prepare for major life events like marriage, child’s education, retirement etc.
- Budget effectively and evaluate your investment portfolio
- Strategic Tax Planning & Filing
- Manage and reduce debt
- Being financially ready for emergencies
- Creating a will to preserve your legacy
In short, financial planning is essential for financial stability and peace of mind. It gives your finances direction and purpose. With proper planning, you can take charge of your money and build financial security.
