For salaried employees, it is the time of the year to submit Income Tax Investment Proof. I know that we don't like this exercise as it is tedious depending on length and breadth of investments. In this post, i will not discuss nitty gritty of tax savings or whether you availed all the deductions or not. This post will discuss being a salaried taxpayer what all points to check or taken care of to avoid mistakes before submission of Income Tax Investment Proof. Always remember that your employer is only responsible for TDS deduction based on your Income Tax Investment Proof submission. The ... Read More
Rental Income – How to save tax on it?
Rental Income is one of the most favorite retirement planning tools in India. As i keep highlighting that Property and Gold are two most popular investment avenues for Indians. With the grace of God, i am currently staying in my house, but my previous landlord has seven properties in Mumbai. An average rental income of Rs 30,000 means monthly rental income of Rs 2,10,000. A good enough amount to live a peaceful and luxurious life. The best part is to leave an asset to legal heirs. Besides, retirement planning i keep getting queries from my readers on taxability of rental income. Many readers ... Read More
Investment Risk – 5 Imp Factors
Investment Risk is the risk grade of an investor. In other words, Investment Risk means how much risk i can take as an investor. An investor doesn't take it seriously and just throw a ball in the air. In day to day interaction there only Three types of risk i.e. High, Medium, and Low. At the time of investment if i tell my investment adviser that i can take high risk, he will suggest me direct equity exposure and few mid and small cap mutual funds. In the case of Medium Risk, suggestion will be Large Cap or Mid Cap mutual funds. Whereas, in a case of low risk, the options are FD, Debt mutual ... Read More