Tax Planning
5 min read
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…
5 min read
How to Choose Best Tax Regime For You | Old Tax Regime Vs New Tax Regime
This blog post compares India's old and new tax regimes, discussing their effects on taxes and…
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…
2 min read
How to Save Tax Legally in India
Everyone pays tax in some way or the other — and as we experience upward mobility and…
4 min read
Can you claim both HRA and home loan deductions?
Many people in India have purchased homes using loans and are paying installments. The Income Tax…
4 min read
What’s the Difference Between TDS and TCS? Explained Simply!
This blog post explores the differences between Tax Deduction at Source (TDS) and Tax Collected at…
8 min read
How Does Tax Filing Works
This article provides essential tips for timely and accurate income tax return filing to avoid notices,…
4 min read
Is Agricultural Income Fully Exempt from Income Tax?
Agricultural income is commonly viewed as entirely tax-free, but few complications are involved in its tax…
5 min read
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…
5 min read
Understanding Tax benefits of owning 2nd home
Homeownership is always a matter of pride, specifically in the Indian context where family traditions have…
4 min read
Simple Steps to Apply for Refund Re-issue
Introduction It is officially that time of the year when office WhatsApp groups are overflowing with…
5 min read
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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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.
