Tax Planning
5 min read
How to Calculate Income from Let-Out House Property?
If you own any residential or commercial property and rent it out, you’re required to declare…
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…
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…
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…
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…
4 min read
Income From Real Estate Investment Trusts (REITs) and its Taxation
Real Estate Investment Trusts (REITs) have become a popular investment option for individuals seeking exposure to…
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
Can I file ITR for the last 3 years?
Whether you’re applying for a bank loan or filing a visa application, income tax returns for…
4 min read
Tax-Loss Harvesting for FY2024-25: How to Set Off Loss from Stocks, Mutual Fund and Save Tax
Tax-loss harvesting is a financial strategy in which you sell investments at a loss and use…
10 min read
Income Tax Slabs, Rates for FY2025-26, FY2024-25 Under the New Tax Regime and Old Tax Regime; Check How Much Tax You Have to Pay
Do you know which tax bracket you fall into for FY2024-25 or FY2025-26? You might feel…
4 min read
Received a Notice under Section 142(1)? Here’s what you need to know
It can be alarming to receive a notice from the Income Tax Department, but you can…
4 min read
Residential Status and its Importance in Taxation
Your tax liability depends on your residential status so it is essential to understand how you…
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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.
