Tax Planning
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Sovereign Gold Bonds and Their Taxability
Have you considered investing in Sovereign Gold Bonds? Like what you're reading? Get our latest, straight…
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Section 43B of the Income Tax Act
As a business owner or a self-employed taxpayer who isn’t on a monthly payroll, you’re probably…
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How to Maximise Tax Benefits With Rental Income
Ever wondered if investing in rental properties could be a wise financial decision? While the potential…
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How Can You Start Tax Filing in 2024?
Filing your Income Tax Return (ITR) in India can feel overwhelming, especially for first-timers. The complex…
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Tax Filing: Understanding Key Terminologies
Filing your Income Tax Return (ITR) in India can feel confusing at first. There are a…
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Benefit of opting for the Old Tax Regime
When it comes to personal tax planning, taxpayers are often in a dilemma to decide whether…
9 min read
Decoding Taxation on Capital Gains
Gain insights into the intricacies of capital gains taxation and navigate the complexities of maximizing financial…
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Important Terminologies Related to Income from House Property: Here’s What You Need to Know
Owning your dream house is not about just a place to call home but it also…
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The Income Tax Bill 2025: A New Era of Taxation in India
In a significant move aimed at refining the tax framework, Finance Minister Nirmala Sitharaman tabled the…
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NPS Investment for Additional Tax Deduction: Is it a Beneficial Choice?
This article assesses the pros and cons of investing in NPS for tax deductions, aiding informed…
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How to File an Income Tax Return?
After the digitisation of the ITR request procedure, filing your ITR has become easier than ever.…
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How to File Income Tax Return Online?
Introduction Whether you’re a salaried individual or a self-employed businessperson, the Indian Income Tax Act, 1961,…
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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.
