Tax Planning
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…
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…
4 min read
Received an Income Tax Notice? Here’s How to Respond to it
Receiving an income tax notice might feel like a thunderstorm on a sunny day, but it’s…
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 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…
3 min read
How to Maximise Tax Benefits With Rental Income
Ever wondered if investing in rental properties could be a wise financial decision? While the potential…
3 min read
10 Best Tax-Friendly Habits to Adopt for a Sound Financial Future
Navigate India's complex financial landscape with our ten tax-friendly habits, setting the stage for wealth preservation,…
5 min read
Income Tax and Rental Income: A Comprehensive Guide for Property Owners
Discover how income tax applies to rental income in our comprehensive guide for property owners, clarifying…
5 min read
Benefit of opting for the Old Tax Regime
When it comes to personal tax planning, taxpayers are often in a dilemma to decide whether…
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
Taxation for Freelancers and consultants
Unlike salaried individuals, freelancers and consultants often find it more complex to understand taxation requirements and…
5 min read
Income Tax Notices for Salaried Individuals: Dos and Don’ts to Stay Compliant
Navigate the complexities of income tax returns with our guide on how to avoid tax notices,…
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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.
