The Voluntary Provident Fund (VPF) – A Comprehensive Guide
For individuals aiming to maximize their savings while enjoying significant tax benefits, the Voluntary Provident Fund (VPF) presents an attractive option. The VPF, a government-backed scheme, extends beyond the mandatory Employees’ Provident Fund (EPF), offering enhanced returns and flexible investment opportunities. This comprehensive guide covers everything you need to know about...
Fixed Deposit Returns vs. Other Asset Classes Returns
Navigating today’s complex financial landscape can be daunting, with choices ranging from stocks and mutual funds to gold and fixed deposits (FDs). Amidst market volatility, experts advocate for constructing a diversified portfolio, leveraging assets like stocks or mutual funds to weather fluctuations. Gold serves as a stable diversifier, less susceptible to financial tightening,...
Why UAE NRIs Don’t Pay Capital Gains Tax On Mfs In India
Non-resident Indians (NRIs), particularly those residing in the United Arab Emirates (UAE), enjoy significant tax benefits on their investments in mutual funds (MFs) in India. These benefits stem from a Double Taxation Avoidance Agreement (DTAA) signed between India and the UAE, providing relief from capital gains taxation. However, navigating these benefits requires a thorough...
Sovereign Gold Bond | Features and Eligibility
The modern investor’s solution to these challenges lies in Sovereign Gold Bond (SGBs), an innovative investment avenue issued by the Government of India. In India’s rich culture, gold is highly valued as a symbol of wealth, tradition, and culture. While the allure of physical gold is undeniable, it brings forth challenges ranging from storage concerns to issues of purity and...
NPS Tax Benefits As Per The New Tax Regime And Old Tax Regime
Following the Budget 2023, there has been some confusion regarding the tax benefits of the National Pension System (NPS) under both the new tax regime and the old tax regime. This is largely due to the government’s emphasis on promoting the new tax regime over the old one. To clear up this confusion, let’s take a closer look at the NPS tax benefits in both regimes. Everyone...
What is HUF & How It Saves Tax– FFC ep 45
The concept of Hindu Undivided Family, commonly known as HUF, was derived from the ancient Hindu laws. The oldest male member heads the HUF, and is called the ‘Karta’. He is responsible for making and taking decisions for the HUF. The other members in the family are called co-parcerners. In an Hindu Undivided Family all the members can contribute, but once the contribution is...
Everything about Term Plans
You cannot predict what is there waiting for you in the future. There are always lots of uncertainties and causalities coming up for you in the future and you are always unaware about it. These uncertainties cause a drastic financial crisis to your family and closed ones. You can help your loved ones by planning for your and their future and apply for a term insurance plan. Choosing...
Insurance and its Tax Benefits
Saving taxes is everyone’s predominant motto when it comes to investments. Thankfully, the Income Tax Act 1961, has allowed various types of investment avenues to be exempt from the purview of income tax. If you choose these avenues for investment, you can earn tax exemptions and deductions on the amount you invest, the returns generated and the benefit you get. When it comes to...Tax Benefit on HRA vs Home loans- FFC EP 2
House Rent Allowance Vs Home Loan Taxpayers would like to know their entitlement to deductions towards the payments for housing accommodation and their entitlement for house rent exemption. Tax Benefit on House Rent AllowanceAn allowance that is provided by an employer to the employee to cover the expenses of the accommodation rent which the employee may incur for his housing...