Tax Planning

Investment choices should be based on financial goals, risk and liquidity, with tax efficiency considered only after the portfolio's core structure is determined.

Before filing ITRs, salaried taxpayers should reconcile Form 16 and Form 16A with AIS, Form 26AS and personal records to avoid errors and notices

Before claiming deductions under Section 80C, understand which tax regime suits you and how taxable income is calculated.

Certified financial analyst lists multiple options to lower effective tax rates under Income Tax rules

It will, however, make income tax laws easier to comprehend and adhere to for the lay taxpayer

Investments in Public Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY) should be made by the 5th of April

Trading in stocks and options, which has become a national craze since the pandemic, will now be taxed more strictly. That wasn't entirely unexpected

If your parent is in a lower tax bracket or has no taxable income, investing in a Systematic Investment Plan (SIP) in their name can be tax-efficient.

Don't rush into investments just for tax benefits. Choose options that align with your financial goals and risk tolerance.

Avoid booking travel packages and use a debit or credit card during your personal international trip

Expectations continue to circle economic recovery, ease of compliance and kick-start investment cycle to transit domestic economy into a higher growth orbit while remaining inclusive and sustainable

While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws don't apply

Tips on figuring out which document needs to go straight into the dustbin and which needs to be kept, just in case

If you make them in haste at the last moment, you are likely to end up with the wrong choices

Spread out your financial burden by investing in tax-saving instruments throughout the year

Getting into such complex situations every year end isn't the best idea as it can lead to unnecessary queries from the I-T department

Get up to Rs 7 lakh or more tax relief through proper documentation

If your employer's deadline has passed, you can still claim deductions while filing income-tax returns