Tax

The best tax saving option is: ELSS or ULIPs?

The best tax saving option is: ELSS or ULIPs?

When we talk about tax saving investment, there is a big debate between the ELSS (Equity Linked Savings Scheme) versus ULIP (Unit Linked Insurance Scheme). Both schemes have some similarities and some differences too. For example, both schemes combine tax saving with a long-term investment perspective. Both schemes give you an access to equities and both provide you a lock-in period. However, there are some differences on the tax front, especially after the Union Budget 2018-19. Also in terms [...]

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What you can do if you have missed the last date of Income Tax Return Filing

What you can do if you have missed the last date of Income Tax Return Filing

The last date of the Income Tax Return Filing was 31 August. CBDT (Central Board of Direct Tax) had extended the last date from 31 July to 31 August 2018. But if you have missed the extended date of ITR (Income Tax Return) filing, you can still file your return. However, there are some points you need to understand and consider before you file the return in this last chance. People who file their return after the due date, [...]

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7 Reasons ELSS are Better Than Other Tax Saving Investments

7 Reasons ELSS are Better Than Other Tax Saving Investments

The introduction or rather reintroduction of long-term capital gains taxes on equity mutual funds including ELSS(equity-linked savings schemes) has made some novice investors a bit jittery. A lot has already been written and said about long-term equity gains taxes on equity schemes. In short, considering the potentially high returns, Rs. 1 lakh annual gains taxation threshold. And the grandfathering of returns till 31st January 2018, equity schemes still hold the edge over competing investments. This also holds true for ELSS funds that investors [...]

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Comparison between ELSS Funds and Public Provident Fund

Comparison between ELSS Funds and Public Provident Fund

If you are looking to make some investments to save tax, then you would have most certainly come across Section 80C of the Income Tax Act. This section offers a tax deduction for investments made in certain financial instruments like Equity Linked Savings Scheme (ELSS), Public Provident Fund (PPF), Tax saving Fixed Deposits (FD), National Pension Scheme (NPS), etc. Each of these investment options has different features but one thing in common – tax benefits. Aligning one or more [...]

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What is this buzz about term insurance

What is this buzz about term insurance?

What is this buzz about term insurance? In India, most people either familiar with Life Insurance or insured with various policies in their name. All through this range of interest for insurance, Term Insurance plan is popular among them. Providing a low-cost track to financial security, term insurance policies sell like icecreams on a hot day. Be it their affordable premiums, long-term financial benefits, or their exciting tax savings, term insurance is all the rage. Particularly now, during peak tax [...]

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All you need to know about Long Term Capital Gain (LTCG) Tax

All you need to know about Long Term Capital Gain Tax

What is long-term capital gains (LTCG) tax? LTCG is a tax paid on profit generated by an asset such as shares, equity, real estate or share-oriented products held for a particular time-period. The meaning of Long-term Capital Gains, or LTCG, is diverse for different items. Why is LTCG tax in the news now? In the Budget of 2018, Finance Minister Arun Jaitley, re-introduced the LTCG tax on stocks. Investors who got a profit exceeding 1 lakh rupees from the sale of a share [...]

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Changes in Income Tax Law come into effect from April 1, 2018

Changes in Income Tax Law come into effect from April 1, 2018

Changes in Income Tax Law come into effect from April 1, 2018. Finance Minister Arun Jaitley proposed various income tax changes in the Budget 2018.  These changes will come into effect from April 1, 2018. These tax changes will impact on many taxpayers in a number of ways. However, he has kept the basic income tax rates, exemption and the slabs unchanged. Some key changes in income tax are a standard deduction for salaried employees, increase in cess and introduction of [...]

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