Tax Planning
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Received a Notice under Section 143(1)? Here’s what it means
Receiving a notice under Section 143(1) is a routine part of the income tax return process.…
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Income Tax Notices for Salaried Individuals: Dos and Don’ts to Stay Compliant
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How to File Income Tax Return Online Using Form 16?
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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…
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How to Save Tax Legally in India
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Important Terminologies Related to Income from House Property: Here’s What You Need to Know
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How Does Tax Filing Works
This article provides essential tips for timely and accurate income tax return filing to avoid notices,…
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Simple Steps to Apply for Refund Re-issue
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What is Annual Information Statement (AIS)?
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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…
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How to File Income Tax Return Online?
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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.
