Tax Planning
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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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Navigating Income Tax & Taxation on Gifts Received in India
Understand taxable income basics and the taxation on gifts received. Navigate with confidence, ensuring compliance and…
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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Are Cryptocurrencies Taxed in India? Understand the Rates, TDS and How to Calculate Tax on Crypto in India
Cryptocurrencies have gained popularity as a new form of digital asset due to their decentralised and…
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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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Decoding Income Tax Rules for Non-Resident Indians (NRIs)
Your trusted guide for unraveling the complexities of Income Tax Rules for Non-Resident Indians (NRIs).
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…
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
Who should file an income tax return?
Tax season often creates a panicking situation amongst individuals to file income tax return. On the…
4 min read
How you can Minimise Tax Impact When Selling Property in 2024
Selling property can be a rewarding experience, but the taxes involved can quickly dampen your enthusiasm.…
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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…
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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.
