Tax Planning
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…
5 min read
How to File Income Tax Return Online Using Form 16?
Introduction If you are new to filing your own ITR request, chances are that you have…
5 min read
Tax Filing: Understanding Key Terminologies
Filing your Income Tax Return (ITR) in India can feel confusing at first. There are a…
4 min read
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…
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.…
3 min read
How to File Income Tax Return Online?
Introduction Whether you’re a salaried individual or a self-employed businessperson, the Indian Income Tax Act, 1961,…
6 min read
Why Hire Professionals for Tax Planning?
Discover how a CA/Tax expert optimizes tax planning, increasing savings, ensuring compliance, and reducing e-filing errors.
3 min read
How Does Capital Gain/Loss Harvesting Help You Save Taxes?
Delve into the strategy of Tax Loss Harvesting with us, uncovering how savvy investors leverage capital…
4 min read
How to Claim Deductions While Filing Your Taxes?
This blog post focuses on four key sections of the Indian Income Tax Act—80C, 80CCC, 80CCD,…
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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.
