M. Pattabiraman's Blog, page 108
February 12, 2023
Can I continue investing in ELSS mutual funds in the next financial year?
A reader asks, “My question is about the significance of ELSS funds in the future due to the new tax regime. Can we continue investing in these funds?” Budget 2023 has made the new tax regime the default scheme with an option to continue using the old scheme. The new regime has significant tax cuts...
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What are the tax slabs for senior citizens in the new tax regime from 1st April 2023?
We have received many questions on the tax slabs for senior citizens in the revised new tax regime from 1st April 2023. The answer is quite simple! The new tax regime does not distinguish among individuals, senior citizens, super senior citizens and HUFs. All of them get taxed at the same rate! The new tax...
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February 11, 2023
How do I invest conservatively for my son’s future?
A reader asks, “I am 32 years old, an IT employee, and recently we had a new baby boy. I wanted to thank you first for your continuous financial lessons, which have changed my thoughts on personal finance. I have one crore term insurance and 10 lakh medical insurance and below MF investments.” “PPFAS Tax...
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Budget 2023 wants us to shift from tax-saving to wealth-creation mode How do I invest conservatively for my son’ –s future??
A reader asks, “I am 32 years old, an IT employee, and recently we had a new baby boy. I wanted to thank you first for your continuous financial lessons, which have changed my thoughts on personal finance. I have one crore term insurance and 10 lakh medical insurance and below MF investments.” “PPFAS Tax...
The post How do I invest conservatively for my son’s future? appeared first on freefincal.
February 10, 2023
I am forced into semi-retirement – Can I still be financially independent?
A reader asks, ” I am 45 years old with a corpus of around 2.5cr distributed across equity (MFs + stocks) and fixed assets (Bank Savings+Debt Funds+SGB+EPF). I worked for a niche media industry and lost my job in 2020 when Covid hit.” “With few opportunities locally, finding suitable positions has been difficult, especially with...
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February 9, 2023
Budget 2023 wants us to shift from tax-saving to wealth-creation mode How do I invest conservatively for my son’ –s future??
Budget 2023 has made the new tax regime the default scheme with an option to continue using the old scheme. The new regime has significant tax cuts with no tax on income of up to Rs 7 lakhs (net taxable). To appreciate the gravity of these changes, let us consider an example using the New Tax...
The post Budget 2023 wants us to shift from tax-saving to wealth-creation mode – are we ready? appeared first on freefincal.
Budget 2023 wants us to shift from tax-saving to wealth-creation mode – are we ready?
Budget 2023 has made the new tax regime the default scheme with an option to continue using the old scheme. The new regime has significant tax cuts with no tax on income of up to Rs 7 lakhs (net taxable). To appreciate the gravity of these changes, let us consider an example using the New Tax...
The post Budget 2023 wants us to shift from tax-saving to wealth-creation mode – are we ready? appeared first on freefincal.
February 8, 2023
Equity Mutual Fund Screener Feb 2023: Shortlist consistent performers
The freefincal Equity Mutual Fund Performance Screener (Feb 2023) is now available. Use it to screen for consistently performing equity mutual funds. You can screen based on fund category & benchmark and spot mutual funds with a higher return than a benchmark at a lower risk. Inside, you get discounted links to our robo advisory...
The post Equity Mutual Fund Screener Feb 2023: Shortlist consistent performers appeared first on freefincal.
February 7, 2023
Home Loan interest double tax deduction benefit removed in budget 2023
Budge 2023 has proposed to remove the double tax deduction benefit associated with home loan interest. We all know that the interest component of a home loan can be claimed as a deduction up to a maximum of Rs. two lakhs under section 24. When the property is sold, the entire interest component, whether claimed...
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February 6, 2023
Should I exit Nifty Next 50 index funds because of the Adani crisis?
In this article, we address the concerns of many readers who want to know if they should exit Nifty Next 50 index funds or ETFs because of the looming Adani crisis. As of Jan 31st 2023, the Nifty Next 50 holds three Adani stocks. Adani Green Energy Ltd. 1.73% Adani Transmission Ltd. 2% Adani Total...
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