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      6 Ways To Save Tax: All You Need To Know

      Thursday, July 20th, 2017 Amritesh one response

      Tax Planning is the evaluation of individual’s financial position from the tax point of view so as to optimize the Finances in the most efficient way. It helps to make optimal use of the tax benefits available in order to reduce the tax liability during the financial year. Tax Planning is the ethical mean to reduce the tax liability through proper tax exemptions channels available to the Tax Payers. Most of the Individuals are aware of the Tax Deductions available U/S 80C up to the maximum limit of Rs 1,50,000/-. However, Individuals are eligible to avail additional deductions under some of the other Sections of the Income Tax Act which has been discussed below. Edelweiss brings to you 6 ways…

      EPS vs NPS vs APY: Retirement Benefit Comparison

      Tuesday, July 18th, 2017 Amritesh no responses

      Retirement Planning is not just about saving for the future rather it involves systematic approach towards accumulation of corpus which would be sufficient to meet the financial obligations post retirement. Individuals may avail various retirement plans provided by the Insurance Companies or invest in Mutual Funds or Public Provident Fund (PPF) which provides lump sum or regular income post retirement. However, many are often confused or not aware of the probable retirement benefit plans which they can avail. Government is also very serious regarding the same as it wants individuals to plan for the retirement while they are young and earning. It has launched various schemes and created awareness about it so that more and more individuals avail those schemes…

      Atal Pension Yojana (APY): Online Account Statement For The Subscribers

      Tuesday, June 13th, 2017 Amritesh no responses

      Subscribers to the Atal Pension Yojana (APY) may now download the statement of their contribution to the scheme online by providing the relevant account related information. APY does provide hard copies of the statement but many of the subscribers are not in receipt of the same. However, for Income Tax declaration and various other purpose the statement is often required. Contribution to Atal Pension Yojana (APY) is eligible for Tax Deduction U/S 80 CCD (1b) thereby making it a decent retirement plan for the individuals. Individuals aged between 18-40 years are eligible to subscribe to the scheme. The minimum monthly contribution which may be made to the scheme is Rs 42/- while maximum monthly contribution is capped at Rs 1,454/-…

      FATCA Compliance for National Pension Scheme (NPS)

      Saturday, June 3rd, 2017 Amritesh one response

      Subscribers to the National Pension Scheme (NPS) are now required to complete the FATCA Compliance online. The option is available to the Subscribers to complete the compliance by logging onto the portal and submitting the required information. It is mandatory for the Subscribers who have subscribed to the scheme on or after 1st July, 2014 to be FATCA compliant. National Pension Scheme (NPS) is the retirement benefit plan for the Individuals aimed at providing better standard of living during the old age. The online certification is also mandatory for the Subscribers who have already sent physical documents to CRA for the same purpose. Earlier, Central Recordkeeping Agency (CRA) had announced Subscribers need to send the hard copies of the documents…

      Annuity Retirement Plans: Types and Benefits

      Sunday, May 14th, 2017 Amritesh no responses

      Life is short but our career is even shorter. Hence, when planning for future it is always advisable to plan for your retirement as well. The earlier you start the better it is to plan your investment. Annuity is a Financial Product offered by Insurance Companies, aimed at providing steady source of income to the Annuitants (Purchaser of Annuity Plans). The primary aim of such plan is to provide financial cover on retirement to the individuals, and ensure that one is able to sustain him/herself. It is one of the retirement benefit plan which may be considered by Individuals who are looking at steady income plans post their retirement. There are primarily two types of Annuity Plans currently offered in…

      Kisan Vikas Patra (KVP): Features, Benefits & Drawbacks

      Saturday, April 15th, 2017 Amritesh no responses

      Kisan Vikas Patra (KVP) scheme was re-launched by the Government very recently (2014). The scheme is mainly targeted at the group who does not have means or access to other financial investment options. The features offered is mostly similar to other Savings Scheme offered by the Government but with some tweaks in the rate of interest, tenure and some other features. The Investment doubles on completion of tenure. Although it does not provide any Income Tax deduction and even the interest earned is Taxable. It may be an Investment option for individuals who are looking at secured returns on Investment and people looking beyond National Savings Certificate (NSC) and Public Provident Fund (PPF). Please read the comparison in the link…

      Tax Saving Investment Options For The Financial Year 2017-18

      Sunday, April 9th, 2017 Amritesh no responses

      The New Financial Year is here and I’m pretty sure that most of you have started with your investment/tax planning for the year. The Investment Schemes discussed here can provide you with maximum tax saving Under Section 80 (C) of Rs 1,50,000/-. Please refer to the links shared below to read in details about the schemes and benefits offered. I will be discussing the some of the notable investment options available under various Sections in my upcoming post for the Financial Year 2017-18. However, in this article I will restrict only to investment options which offer decent returns under section 80C. Do subscribe to my Wealthtech Speaks Blog and Youtube Channel for more updates. The Investment schemes “Header” are hyperlinked…

      National Savings Certificate (NSC), Equity Linked Savings Scheme (ELSS), Public Provident Fund (PPF): Choose The Best

      Friday, April 7th, 2017 Amritesh 2 responses

      FEATURES NSC ELSS PPF Tax Benefit U/S 80C Up to Rs 1.5 lacs       Up to Rs 1.5 lacs Up to Rs 1.5 lacs Minimum Contribution Rs 100 Rs 500 Rs 500 Return on Investment 7.8% Variable 7.8% p.a Tenure 5 3 years 15 years Tax on Return Taxable Tax Free Tax Free Maximum Contribution Limit No Limit No Limit Rs 1.5 lacs Tax on Interest/Return Taxable Exempted Exempted Risk Nil Moderate Nil In the above chart you will see the comparison between National Savings Certificate (NSC), Public Provident Fund (PPF) and Equity Linked Saving Scheme (ELSS). But I will also discuss some more points about the respective investment options so that you can chose the best investment for yourself. Also…

      National Pension Scheme (NPS) : All Citizen Model (Series-1)

      Wednesday, April 5th, 2017 Amritesh 3 responses

      National Pension Scheme (NPS) was introduced by the Government of India in 2004. The scheme is aimed at the providing financial security to individuals post retirement. The Scheme has been opened for all the citizens since 2009. The scheme is designed to maintain a balance between return and risk, so that Individuals are protected from adverse market scenarios and also are able maximize their investment. I have posted about the National Pension Scheme (NPS) in a nutshell previously. You may visit the link below to find out more: EPS vs NPS vs APY: Comparison National Pension Scheme National Pension Scheme (NPS): Benefits and Drawbacks (Series-2) In this post, I will discuss about the National Pension Scheme (All Citizen Model) in…

      Tax Saver Term Deposits: All You Need To Know

      Wednesday, March 29th, 2017 Amritesh no responses

      Tax Saver Term Deposit is the Fixed Deposit Scheme which is eligible for Tax Deductions Under Section 80C up to maximum limit of Rs 1,50,000/- . The minimum lock in period for the investment is 5 years. The e-Term Deposits makes it possible for the investors to make online investment, thus any individual using internet banking can make the investment from the comforts of his/her home. Features of the Term Deposits Maturity period for the Investment is 5 years. Maximum Tax Deduction available is Rs 1,50,000/- which is inclusive of all other investments U/S 80C. Return on Term Deposit is not tax free, implying that investment in scheme is eligible for Deduction, but the interest earned on the investment is…