I think the answer is pretty simple. If you don’t need the full PPF account balance in one go, then its best to extend it. That too I would suggest extending with contributions as PPF is still a solid, tax-free, EEE status savings option. And the longer you keep rolling it by ext...
While we have calculated the average returns of the category, it is pertinent to note that if you had selected a top-performing scheme in the category, you would have earned even higher than the category’s average returns. You can use the ELSS maturity calculator to know the corpus you ...
NAV is the value of each unit of the mutual fund on a given day, calculated by dividing the total value of the fund’s assets by the number of units outstanding. Rupee-Cost Averaging: SIPs tend to spread the investment over time and thereby average out the cost of units purchased...
Q.12 – Should Interest Income be mentioned under the head ‘Income from Other Sources ‘ while filing ITR-1 when TDS has already been subtracted? Q.13 – Do I still need to furnish my Bank Account details in the ITR if there is no refund due to me? Q.14 – How can I download ...
Investment income taxed at ordinary income tax rates If you have taxable interest, whether it's from bonds or a savings account, you include the interest with
Public Provident Fund (PPF): This is the most popular long-term investment product with a minimum investment of just Rs 100 per annum. The scheme guarantees returns of 7.10 per cent per annum that are completely tax-free. PPF schemes are also eligible for tax saving under Section 80C of...
ThoughRs 2.5 lakh Rule is not applicable to PPF, those who also make additional contributions viaVPF, will come under similar EPF tax implementation. Suppose your EPF account balance at the end of FY2020-21 was Rs 25 lakh. Now your EPF Contribution is Rs 20,000 per month. But you also...
My spouse works as a software engineer in India and will not be working here as she will be on H4. The USA financial year is Jan – Dec while for India its Apr – Mar. I will be working there for almost 1 year – till Mar 17 ...
As human beings, we all take risks in life. There is no life without risks. Yet, many of us do not take even minimum risks and in turn will waste time and many important opportunities. The concept of calculated risks tends to only minimize such mistakes
Or if there is mistake in any other statement you can correct the error by filing a revised return. For instance, if you you forgot to declare tax-exempt interest from PPF or interest on Saving Bank account or you had not declared some income such as interest on your fixed deposits or ...