M. Pattabiraman's Blog, page 46
July 23, 2024
Manage Your Money Better: A Quick and Easy Guide for Young Earners
Here are 16 immediate steps a person who has just started earning should consider to manage their money better. Money is there to be spent. There is no point in saving or investing money without enjoying the present. At the same time, we should also invest some of our money to continue enjoying the present in...
The post Manage Your Money Better: A Quick and Easy Guide for Young Earners appeared first on freefincal.
Budget 2024 modifies NPS deduction 80CCD(2) only for the New Tax Regime!
Last Updated on July 23, 2024 at 6:03 pm Currently, section 80CCD(2) allows a deduction in the taxable income from National Pension Scheme Employer contributions – 10% from non-government subscribers and 14% from government subscribers. This deduction is allowed in both the old tax regime and the new tax regime. Also see: Budget 2024: New Tax...
The post Budget 2024 modifies NPS deduction 80CCD(2) only for the New Tax Regime! appeared first on freefincal.
Budget 2024: Real Estate Taxation Change Can Significantly Increase Tax Burden!
Last Updated on July 24, 2024 at 8:05 am Budget 2024 has revised the real estate taxation rule. Long term capital gains tax has been modified from 20% with indexation to 12.5% without indexation for any sale made on or after 23rd July 2024. For those who wish to sell their old properties, this would...
The post Budget 2024: Real Estate Taxation Change Can Significantly Increase Tax Burden! appeared first on freefincal.
Budget 2024: Change in Family Pension Taxation Rule
Last Updated on July 23, 2024 at 4:53 pm Budget 2024 has revised the taxation rule governing family pensions. Existing rule: deduction of Rs 15,000 or 1/3rd of the pension amount, whichever is lower shall be made before computing the income chargeable under the head “Income from other sources”. Revised rule: deduction of Rs 25,000...
The post Budget 2024: Change in Family Pension Taxation Rule appeared first on freefincal.
Budget 2024: Big change in mutual fund taxation rules
Last Updated on July 23, 2024 at 4:02 pm Budget 2024 has proposed big changes in mutual fund tax rules. There are now three types of mutual funds: (1) Equity MF (65% or more domestic equity),(2) Debt MF (65% or more bonds). (3) Other MF (neither 65% equity nor 65% bonds) 1 Equity mutual funds...
The post Budget 2024: Big change in mutual fund taxation rules appeared first on freefincal.
Budget 2024: New Tax Regime vs Old Tax Regime Calculator: Check which is better
Last Updated on July 23, 2024 at 4:18 pm Budget 2024 has further reduced the tax burden in the new tax regime. Use this free calculator to compare the old and new tax regimes (calculations for past new tax regime slabs are also available). This comparison table was originally prepared by Vinay Vittal, modified by...
The post Budget 2024: New Tax Regime vs Old Tax Regime Calculator: Check which is better appeared first on freefincal.
July 22, 2024
Can I delay NPS annuity purchase until age 75?
A reader says, “There is an option of ” continuation of NPS” till 75 years of age where subscriber can continue contributing. I want to confirm if the annuity is not required to be purchased till 75 years if this continuation option is selected”. The NPS exit and withdrawal rules have been amended so often...
The post Can I delay NPS annuity purchase until age 75? appeared first on freefincal.
July 21, 2024
Debt and hybrid mutual fund screener (July 2024) for selection, tracking, learning
This is a debt mutual fund screener for portfolio selection, tracking, and learning. It also includes hybrid funds that invest in bonds. It will satisfy investors who wish to invest in money market funds, banking PSU funds, etc. The credit quality of the bonds in the portfolio and the bond maturity profile can be tracked....
The post Debt and hybrid mutual fund screener (July 2024) for selection, tracking, learning appeared first on freefincal.
July 20, 2024
Will SEBI’s “New Asset Class” proposal help investors?
In a consultation paper dated July 16th 2024, SEBI has proposed the introduction of a “New Asset Class” (for now, that would be its name) with a “risk-return profile between MFs and PMS.” Public comments can be sent via this link until Aug 6th 2024. The paper says, “The proposed New Asset Class seeks to...
The post Will SEBI’s “New Asset Class” proposal help investors? appeared first on freefincal.
July 19, 2024
Can I achieve financial independence at 40 if my net worth today is zero?
A reader asks, “I am 27 years old. My current monthly expenses are about Rs. 30,000. I don’t intend to get married. Can I achieve financial independence at 40 if my net worth today is zero?” Let us determine what the freefincal robo advisor tool coughs up for this scenario. The assumptions and inputs are...
The post Can I achieve financial independence at 40 if my net worth today is zero? appeared first on freefincal.
