Credit cards are very helpful in managing your financial needs. For people with a stable but fixed income, especially salaried people, credit cards are a very useful tool as they allow you to meet expenses without spending your income right away. The 18-55 day credit-free period offered by most issuers, which includes multiple reward points, … Read more
In this world nothing can be said with certainty except death and taxes. – Benjamin Franklin. Effective tax planning enables salaried employees to optimize their net tax income. A crucial aspect of tax planning for middle-class salaried employees is to take advantage of deductions and exemptions within legal guidelines, deferring taxes and take advantage of … Read more
“This tax is as high as 35%, the same as what people who earn more pay ₹“1 crore fee,” said Harsh Roongta, founder of Fee Only Investment Advisers. Why? Because mandatory contributions to state insurance and pension funds are “tax-like” due to the difficulty of accessing the benefits or funds offered. Suppose Mr. A, based … Read more
I am a US citizen and have been residing there for over 25 years. I am now retired and have returned to India in May 2024. I will start receiving social security benefits from the next calendar year. Should I include this income in my Indian income tax return?—Name withheld on request Once you become … Read more
The concept is simple: For those living in apartments without enough space to install solar panels, SundayGrids helps them purchase solar panels that are installed elsewhere. The electricity generated by these external panels is deducted from their electricity bill. This is a novel solution that allows users to feel like they have a solar system … Read more
There has been much discussion about active and passive mutual funds, and how to choose between their categories. As many active funds, especially large-cap ones, struggle to consistently outperform their benchmarks, investors are increasingly turning their attention to passive funds. But did you know that within the large-cap passive space (the top 100 companies by … Read more
We are in a phase of economic evolution where social security for self and family is largely achieved and shaped by individual financial planning and efforts rather than as a community mechanism, although a small part may be provided by government-backed mechanisms such as the Employees’ Provident Fund, which does not cover the entire population. … Read more
Are you planning to apply for a new credit card but struggles to get one Credit Score Is it good enough to get a card? Well, you are not alone. This problem is quite common. There could be many reasons for a bad credit score, also known as CIBIL ScoreAnd once you know the reason, … Read more
I am a non-resident Indian working abroad. I plan to return to India and live and work here for at least a few years. Can I keep my local bank accounts in India? Do I need to open Non-Resident External Accounts (NRE) or Non-Resident Ordinary Accounts (NRO)? Should the income I earn from India be … Read more
My father had some fixed deposits in the bank and he passed away in July 2024. He did not write any will. I am the candidate for all the Fixed deposits He has. Since my father had no tax liability, he used to file Form 15H, so no TDS has been deducted in the past. … Read more
