Tax Planning
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…
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
Tax Filing: Understanding Key Terminologies
Filing your Income Tax Return (ITR) in India can feel confusing at first. There are a…
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…
9 min read
Decoding Taxation on Capital Gains
Gain insights into the intricacies of capital gains taxation and navigate the complexities of maximizing financial…
3 min read
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…
5 min read
How to Report Capital Gains Correctly in Your ITR
Filing your ITR seems complicated especially when you have income from capital gains. However, with a…
4 min read
Tax Benefits for Senior Citizens: A Comprehensive Guide
Navigating complex income tax rules can be challenging, especially for individuals in the later stages of…
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…
3 min read
Tax Season and Financial Mis-Selling: What You Need to Know
Every year, as the financial year draws to a close, there’s one ritual most taxpayers perform—calculating…
5 min read
Maximizing Tax Benefits on Medical Expenditures: Understanding Sections 80D, 80DD, and 80DDB
Introduction As individuals, we are all too familiar with the ever-increasing costs of medical expenses. Whether…
6 min read
TCS Applicability on Foreign Remittance
TCS on foreign remittance ensures tax compliance while transferring money abroad, impacting both individuals and businesses.
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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.
