A Systematic Withdrawal Plan (SWP) is a feature offered by mutual funds that allows investors to withdraw a fixed amount of money at regular intervals from their existing investment. Unlike lump sum withdrawals, an SWP provides a steady stream of income, making it a popular choice for retirees who need consistent cash flows, similar to …
Filing your Income Tax Return (ITR) for the first time? The online portal for Assessment Year (AY) 2025-26 is now open, and while the process may seem complicated at first, it can be easy if you know what to do. Here are five important things you should remember when filing your ITR for the first …
If you’re paying house rent over ₹50,000 a month, the Income Tax Department now requires you to deduct TDS (Tax Deducted at Source) before paying your landlord. This is part of Section 194-IB of the Income Tax Act and helps the government keep track of rental income. What Does the Rule Say? As per Section …
Compounding is often called the eighth wonder of the world—and for good reason. It allows your investment returns to earn further returns over time, leading to exponential growth. When you invest a lump sum and leave it untouched for decades, the effect of compounding can be powerful, especially in growth-oriented instruments like equity mutual funds. …
Good news for senior citizens! The government has officially exempted withdrawals from the National Savings Scheme (NSS) from tax deduction at source (TDS). This step ensures that seniors can access their savings without facing unexpected tax cuts. What Is NSS? The National Savings Scheme (NSS) is a government-supported savings plan aimed at encouraging long-term savings …
With the announcement of the 8th Pay Commission, discussions have intensified around the fitment factor, an important component that will determine the revised salaries and pensions of central government employees and pensioners. According to various reports, the fitment factor could range between 1.92 and 2.86, as per news reports. This multiplier is key to calculating …
If you’ve ever found yourself at the crossroads of choosing between a Mutual Fund SIP and a Public Provident Fund (PPF) to invest your hard-earned money, you’re not alone. It’s a common question for every retail investor who want to build wealth while keeping risk in check. In order to check, which is better, let’s …
If you’re paying rent of over ₹50,000 per month, you’re not just a tenant anymore. Under Indian tax law, you also become a tax deductor. This rule applies whether you’re a salaried individual, a freelancer, or self-employed individual. This rule is appliable irrespective of whether you follow the old or new income tax regime. TDS on …
For many salaried employees, the Employee Provident Fund (EPF) feels like a financial safety net. Managed by the Employees’ Provident Fund Organization (EPFO), it grows steadily through monthly contributions from both the employee and the employer. However, when some employees go to withdraw their EPF, they get less money than expected. Here’s why that happens …
The Income Tax Return (ITR) filing for the financial year 2024-25 is expected to start soon, once the Income Tax Department releases the relevant forms and utilities on its e-filing portal. Many salaried individuals are eagerly awaiting this to claim timely refunds. Why Your Refund Might Be Withheld or Reduced This year, taxpayers might notice …
