Tag Archives: #RetirementPlanning101

Provident Funds (PF)

Provident Funds (PF) PF stands for Provident Fund, a mandatory savings scheme in India for employees and employers. It aims at ensuring financial security for employees after their retirement.  It also includes contributions from both the employee and employer towards a dedicated provident fund account. Overview of the Public Provident Fund: Purpose:The primary goal of… Read More »

What are the benefits of tax planning?

Benefits of Tax Planning   Benefits of tax planning, Tax planning offers substantial benefits that can vary depending on individual circumstances, leading to a diverse range of potential advantages. Here are some commonly observed benefits of engaging in tax planning: Reduced Tax Liability: One of the main benefits of tax planning is the ability to… Read More »

What are tax planning strategies?

Tax planning strategies Tax planning strategies involve various techniques and approaches to legally minimize tax liabilities and optimize a taxpayer’s financial situation. Here are some common tax planning strategies:  Income Deferral: Delaying the receipt of income to a later tax year, such as deferring bonuses or income from investments, can help lower your taxable income… Read More »

Should I pay capital gain to income tax?

Tax planning for property Sale Tax planning for property sale, Capital gains tax: As an 80-year-old individual who is selling his own earn immovable property. May be liable to pay capital gains tax on the sale, depending on the specific details of the transaction. Capital gains tax is a tax levy on the profit earn… Read More »

What are the benefits of the Employees’ Provident Fund (EPF) and the Employees’ Pension Scheme (EPS)?

Advantages of EPF and EPS   Advantages of EPF and EPS, The Employees’ Provident Fund (EPF) and Employees’ Pension Scheme (EPS) are social security schemes designed to provide financial security to employees during retirement or in the event of their unfortunate demise. These schemes offer several benefits, including: Retirement benefits: Upon retirement, employees receive a… Read More »

Does PF fall under the 80C tax deduction?

  User Intent Users searching for this topic want to understand whether Provident Fund (PF) qualifies for tax benefits under Section 80C of the Income Tax Act, 1961. They are likely looking for clear explanations, benefits, limitations, and a comparative analysis with other tax-saving options. Introduction Tax planning is an essential part of financial management.… Read More »