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…
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…
5 min read
Applicability of Tax-Loss Harvesting Strategy in 2024
Rohit had a diverse investment portfolio in 2023. By December, he realised he had the following…
8 min read
Sovereign Gold Bonds and Their Taxability
Have you considered investing in Sovereign Gold Bonds? Like what you're reading? Get our latest, straight…
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…
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…
6 min read
How to Save Tax on Capital Gains from sale of Residential house property?
Learn how to minimize your tax liability and maximize profits when selling a residential house property…
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,…
6 min read
TCS Applicability on Foreign Remittance
TCS on foreign remittance ensures tax compliance while transferring money abroad, impacting both individuals and businesses.
3 min read
10 Best Tax-Friendly Habits to Adopt for a Sound Financial Future
Navigate India's complex financial landscape with our ten tax-friendly habits, setting the stage for wealth preservation,…
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…
6 min read
Advance Tax in India: A Guide for Individuals
Demystify advance tax in India and take control of your financial obligations with this comprehensive guide…
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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.
