Tax Planning
7 min read
Capital Gains on Sale of Property: What Homeowners Need to Know
In India, we love to buy properties, and often these purchases are partly funded by the…
5 min read
How to File an Income Tax Return?
After the digitisation of the ITR request procedure, filing your ITR has become easier than ever.…
5 min read
What is 80C in income tax?
Tax planning plays a vital role in managing your finances effectively. Amongst many deductions in the…
5 min read
The Consequences of Not Filing Income Tax Returns (ITR)
This blog highlights the importance and consequences of timely Income Tax Return (ITR) filing, focusing on…
5 min read
New TDS Changes Effective from October 1, 2024: What You Need to Know
As part of the Union Budget 2024, significant amendments to the Tax Deducted at Source (TDS)…
5 min read
Tax on long-term capital gains
Understanding Long Term Capital Gains (LTCG) is crucial for any taxpayer. So, what is LTCG? It’s…
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,…
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…
5 min read
Taxation for Freelancers and consultants
Unlike salaried individuals, freelancers and consultants often find it more complex to understand taxation requirements and…
6 min read
Tax planning for salaried Individuals – Beginners guide
This guide empowers salaried individuals with essential tax planning knowledge to effectively manage taxes and maximize…
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…
6 min read
Deduction and Exemptions from Income Tax
Tax planning is essential for effectively managing your finances. Income tax laws offer several deductions and…
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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.
