Tax Saving tips you probably didn't know 😯
Read the 🧵to reduce your tax liability in the current year (2021-22)
Hit “Re-tweet” to share the information with maximum people
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#taxes #TaxSeason #investing
Read the 🧵to reduce your tax liability in the current year (2021-22)
Hit “Re-tweet” to share the information with maximum people
(1/8)
#taxes #TaxSeason #investing
1) Booking Capital gains :
The Long term capital gain on equity shares & MFs are taxed at the rate of 10%, if your gain is more than Rs. 1 lakh.
So, you can strategically plan your long term investments by booking LTCG upto 1 lakh and reinvesting the money next day.
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The Long term capital gain on equity shares & MFs are taxed at the rate of 10%, if your gain is more than Rs. 1 lakh.
So, you can strategically plan your long term investments by booking LTCG upto 1 lakh and reinvesting the money next day.
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2) Tax-loss harvesting
If any of your equity holding is experiencing a consistent fall & you feel that the security has lost most of its value & chances of a rebound are bleak, you can offset the loss against capital gains that your portfolio has earned over the period.
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If any of your equity holding is experiencing a consistent fall & you feel that the security has lost most of its value & chances of a rebound are bleak, you can offset the loss against capital gains that your portfolio has earned over the period.
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⏩ Note : Short term capital loss can be set off against short-term as well as long-term capital gain but long-term capital loss can be set off only against LTCG.
⏩ This strategy also helps you in improving the portfolio by reducing ur exposure to low quality investments
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⏩ This strategy also helps you in improving the portfolio by reducing ur exposure to low quality investments
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3) Get 4-yr indexation benefit
Through this benefit you get to pay tax only on the gain over and above inflation, which is a major advantage in case debt MFs.
Indexation is linked to the no. of years of holding but you can increase it with smart moves
How?👇
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Through this benefit you get to pay tax only on the gain over and above inflation, which is a major advantage in case debt MFs.
Indexation is linked to the no. of years of holding but you can increase it with smart moves
How?👇
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Tax laws define indexation benefit on the basis of financial Year.
So if an investment is made in March 2018, it falls in FY 2017-18 and the redemption made in April 2021 falls in FY 2021-22, therefore, making you eligible to use 4 years of indexation.
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So if an investment is made in March 2018, it falls in FY 2017-18 and the redemption made in April 2021 falls in FY 2021-22, therefore, making you eligible to use 4 years of indexation.
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4) 54EC Funds :
Buying a new property to save taxes on gains from sale of your existing property is not a smart move!
You can save tax instead by investing the gains in 54EC bonds within 6 months
Being issued by PSU entities, safety is assured.
Interest rate : 5% P.a
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Buying a new property to save taxes on gains from sale of your existing property is not a smart move!
You can save tax instead by investing the gains in 54EC bonds within 6 months
Being issued by PSU entities, safety is assured.
Interest rate : 5% P.a
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Few limitations of these bonds are
- Lock-in period : 5Yrs
- Max investment limit : 50 lakh
Wish to know our choices for 80C deduction🧐
✅Best ELSS Funds
✅ Solid insurance plans
✅ Reliable pension plans
Visit : Recipe.finology.in
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- Lock-in period : 5Yrs
- Max investment limit : 50 lakh
Wish to know our choices for 80C deduction🧐
✅Best ELSS Funds
✅ Solid insurance plans
✅ Reliable pension plans
Visit : Recipe.finology.in
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