Choose a Sufficient Coverage Amount to cover your -
🔸Financial Goals
🔸Any Outstanding Debts
🔸Your Family’s day-to-day Expenses, and
🔸Provide Financial Support to your Dependents
Apr 12, 2023 • 20 tweets • 4 min read
Confused about which Tax Regime to choose? 🤔
🧾Old Regime with Deductions and Exemptions, or
📉New Regime with Lower Slab Rates, but Fewer Exemptions
Don't worry, this🧵will help you Decide Which Regime will be More Beneficial to You and Help you Save the Most Taxes💰
✳️ Why do you have to opt for a Tax Regime?
→ CBDT (via circular no 04/2023) made it COMPULSORY for Employers to seek information from their Employees on which regime they wish to opt for?
→ The Employer shall deduct TDS accordingly.
Apr 2, 2023 • 13 tweets • 4 min read
💸💼 Want to Identify TOP-PERFORMING Companies for your Portfolio?
Financial Ratios are your Secret Weapon!!
They provide Valuable Insights into a Company's Financial Health and Growth Potential📈
Use These 5⃣Key Financial Ratios to find your Next Multibagger💰
Hit Retweet 🔃
1⃣ Net Profit Margin
🔹It illustrates How Much of Each Rupee in Revenue collected by a Company Translates into Profit.
🔹The Higher the NPM → The Better the company is at Controlling its Costs and Generating Profit from its Revenue → The More Valuable the Company.
Mar 29, 2023 • 26 tweets • 8 min read
🚨Attention Tax-Payers, ONLY 3 DAYS LEFT to Plan your Taxes for the FY 2022-23.
✳️I have written extensively on Tax-Planning and Tax-saving!!
Here is a Mega Thread 🧵of all my Threads and Infographics. Use it to OPTIMISE your Taxes for the FY 2022-23💸💼
✳️ Tax-Planning for Different Age-groups
- As we age, our Priorities and Financial-goals change. So do our Responsibilities and Appetite for Risk.
- Always opt for Tax-saving Instruments that best suit your Age and Financial Goals.
Mar 10, 2023 • 14 tweets • 3 min read
✳️Income Tax Deductions related to Health
🩺 Deduction for Medical Insurance and Preventive Health Check-up (80D)
🩺 Deduction for Medical Treatment (80DDB)
🩺 Deduction for Disability (80U)
🩺 Deduction for Rehabilitation of Handicapped Dependent (80DD)
🧵
Do 'Retweet'🔃
🔹Deduction for Medical Insurance (Section 80D)
• Under Section 80D, Individuals can claim a Deduction for the Medical Insurance Premium paid for-
- Self
- Spouse
- Dependent children, and
- Parents
Mar 7, 2023 • 9 tweets • 3 min read
🚨75% of all Indians are NOT Covered by any form of life insurance.
This leaves their family susceptible to Financial Instability and Hardships😥.
✅Investing in a Term Insurance Plan is one of the Simplest and Best ways to get Insured!!
🔸What is Term Insurance?
- Type of Life Insurance that Provides Pure Risk Cover.
- No Investment Component, unlike traditional policies -> Lower and Affordable Premium.
- Provides coverage for only a Specific Period of Time, called Term.
Mar 6, 2023 • 18 tweets • 4 min read
🔸Sovereign Gold Bonds
The Sovereign Gold Bond Scheme
2022-23 - Series IV will be open for subscription Today.
Here is Everything you should know about Investing in SGBs -
🔸What are SGBs?
- SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold.
- Issued by Reserve Bank on behalf of the Government of India.
- Denominated in multiples of gram(s) of gold with a basic unit of One gram.
Mar 4, 2023 • 5 tweets • 1 min read
Planning a series of🧵on Term Insurance.
HELP ME by taking these Polls!!
Do you have Term Insurance? If so, how much cover do you have?
If you have a term policy, until what age are you covered?
Feb 4, 2023 • 14 tweets • 3 min read
🔸New (Revised) vs Old Tax Regime - Which one to chose??
Wondering which would be more beneficial for you - New or Old?? 🤔
Let's answer that in a Simple, Easy to Understand way!!
NO Jargon, NO Complex Excel sheets👇
🔹 For Income up to 7 Lakhs
- If Deductions + Exemptions > 200,000 : Old Regime
- If Deductions + Exemptions < 200,000 : New Regime
Dec 13, 2022 • 23 tweets • 5 min read
Struggling with your Finances?? 😰
Struggle NO MORE !!
Follow this SIMPLE 8-STEP STRATEGY in 2023 to lead a more Secure and Stable Financial Life 💵✨.
STEP 1⃣ Set Financial Goals
- You can’t reach your goals if you don’t set them.
- List down all your Financial Goals.
- Categorize them into
👉Short Term Goals - six months to five years (plan a holiday, buy a car).
👉Mid Term Goals - five to 10 years (buy a house).
Nov 18, 2022 • 5 tweets • 2 min read
🔸 Public Provident Fund (PPF)
▪️ PPF is one of the most popular Long-Term Investment schemes,primarily because of its Low-Risk features and Major Tax Exemptions.
▪️ Only Resident Indians are eligible to open a PPF account.
NRIs and HUFs are not permitted to open a PPF account
▪️ Deposits can be made in a Lumpsum or in Instalments.
▪️ The current rate of return on PPF investments is 7.1%.
▪️ The Lock-in period is 15 years, which can be extended in a set of 5 years.
▪️ Minimum investment- Rs.500
Maximum investment- Rs.1,50,000 (each Financial Year)
Nov 12, 2022 • 21 tweets • 4 min read
Covid-19 has undoubtedly accelerated the Indian Freelance Movement.
A plethora of Work Opportunities and Favorable Tax Rules, ensure that Freelancing is now more fruitful than before.
However, very little information is available on the Taxation of Income from Freelancing.
🧵
🔸Income Tax on Freelance Income
▪️ As per the Income-tax Act, any Income earned through exhibiting your intellectual or manual capabilities is Income from a Profession.
▪️ Thus, Income from Freelancing will be taxed as ‘Profits and Gains from Business & Profession.’
Nov 4, 2022 • 16 tweets • 3 min read
Tax Harvesting can help you save up to ₹10,000💸💸 in Taxes on your Equity Investments every financial year!!
In this 🧵, let's understand what Tax Harvesting is and how you can use it to reduce your LTCG liability.
✳️First, we need to understand what LTCG is?
🔸Capital gains earned over and above ₹1 lakh on selling Equities, including shares and mutual funds, after one year are called Long-Term capital Gains (LTCGs).
🔸These LTCGs are taxed at the rate of 10%.
Nov 2, 2022 • 17 tweets • 5 min read
Tax Planning should be an integral part of your overall Financial Planning, irrespective of your age.
We have already covered "Tax Planning in your 20s".
🔸Here is a🧵on "Everything you need to know about Tax Planning in your 30s"⤵️
🔸Tax Planning in your 30s
▪️The 30s is the time when most of you will get married and start a family.
▪️Your responsibilities are certainly increased from when you were in our 20s.
Oct 31, 2022 • 8 tweets • 2 min read
Four Financial Advantages every Woman should be aware of ⤵️
🔸Lower Interest Rates on Home Loans
▪️ Banks and NBFCs usually offer lower interest rate on home loans for property registered in a woman's name.
▪️ The subsidized home loan interest rates may be 0.05% to 0.1% lower, which result in lower EMI payments.
Oct 29, 2022 • 13 tweets • 4 min read
Tax Planning should be an integral part of your overall Financial Planning, irrespective of your age.
Starting a series on "Tax Planning for Different Age Groups".
🔸Here is a 🧵on Everything you need to know about Tax Planning in your 20s⤵️
🔸Tax Planning in your 20s
▪️20s are the best time to start investing for your future - you are young and have lesser responsibilities. ▪️However, this is also a time when you have just begun earning and may know very little about investing.
Sep 30, 2022 • 4 tweets • 2 min read
CBDT has extended due date for filing of various reports of audit for the Assessment Year 2022-23 to 07/10/2022.