Tax Planning
5 min read
How to File Income Tax Return for Salaried Employees: A Step-by-step Guide
As if a tedious 9 to 5 taking a toll on you wasn’t enough, now you…
4 min read
Can you claim both HRA and home loan deductions?
Many people in India have purchased homes using loans and are paying installments. The Income Tax…
5 min read
How to Save Taxes on Capital Gains: Exemptions Under Sections 54, 54EC, and 54F
Tax liability arising due to capital gains from the sale of capital assets like land, buildings,…
5 min read
Section 80 Deduction List
Tax planning plays a vital role in managing your finances effectively. Amongst many deductions in the…
4 min read
Is Agricultural Income Fully Exempt from Income Tax?
Agricultural income is commonly viewed as entirely tax-free, but few complications are involved in its tax…
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…
6 min read
What is 80C in income tax?
When it comes to tax planning, the first thing that often comes to mind is Section…
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…
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…
4 min read
Understanding Tax Credits: How to Use Form 26AS and Annual Information Statement (AIS) for Accurate ITR Filing
Form 26AS and Annual information statement (AIS) display a comprehensive view of the financial transactions made…
5 min read
Who should file an income tax return?
Tax season often creates a panicking situation amongst individuals to file income tax return. On the…
5 min read
How to Report Capital Gains Correctly in Your ITR
ITR filing seems complicated especially when you have income from capital gains. However, with a clear…
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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.
