5 great ways to manage your finances in 2021
It is a new year, and the one resolution that you have to make this year, more so after an eventful 2020, is to manage your finances the best way possible. IMPACT FEATURE February 5, 2021 | Updated 17:06 IST
Image credit: Finserv MARKETS The best time to manage your finances was last year. The second best time is now.
Of course, the quotes above is an improvisation of a proverb, but we hope you get the point. It is a new year, and the one resolution that you have to make this year, more so after an eventful 2020, is to manage your finances the best way possible.
No tax benefit on ULIPs, high PF contribution
February 01, 2021
PF contributions enjoyed tax deduction under Section 80C up to a maximum contribution of ₹1.5 lakh per year - Getty Images/iStockphoto
PF contributions enjoyed tax deduction under Section 80C up to a maximum contribution of ₹1.5 lakh per year - Getty Images/iStockphoto×
With the new proposal, interest on contribution of over ₹2.5 lakh to Employee Provident Fund will be taxed
The Budget 2021-22 has tightened provisions for high-income earners taking advantage of popular tax-saving investment options.
Firstly, interest earned on PF contributions over ₹2.5 lakh is taxable. This provision shall be applicable on contributions made on or after April 1, 2021. This is a continuation of the government’s move last year to set an aggregate limit of ₹7.5 lakh for employer contributions to the PF, National Pension System (NPS) and superannuation fund, any contribution beyond whichwas made taxable.
5 income tax changes that could be expected in Budget 2021
Budget 2021: Experts don t see the government making big changes to income tax rules this yearPremium
4 min read
There are expectations that the government may hike the standard deduction limit in Budget 2021 to boost consumption
Tax experts expect the government to fix some anomalies in the NPS or National Pension Scheme with regard to income tax benefits
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In last year s Budget, Finance Minister Nirmala Sitharaman introduced a new income tax regime that came into effect from April 1. So some tax experts say that in this year s Budget there might not be many new changes. Under the new simplified income tax regime, there is zero tax for income up to ₹2.5 lakh; 5% for income between ₹2.5 lakh and up to ₹5 lakh; 10% for income between ₹5 lakh and up to ₹7.5 lakh; 15% for income between ₹7.5 lakh and up to ₹10 lakh; 20% for income between ₹10 lakh and up to ₹12.5 lakh; 25
India Budget 2021: TDS cut, remittance limit top NRI wish list
Dixit Jain/Dubai
Photo: PTI
Here s what taxes NRIs pay currently and what they are expecting from this budget.
As we approach the budget date, expectations from the Prime Minister Narendra Modi’s government seem to soar with every passing day. The budget is going to be different than before as for the first time it will be completely paperless in the wake of ongoing Covid-19.
Everyone has been facing tough time with current Covid-19 situation around the world, the businesses have suffered, job losses are plenty, household budgets have taken a turn. It can be said that this budget is going to be one of the most awaited budget as everyone hopes for a relief from the government.
Top 5 Investment Options In 2021
Here are the top five investment options for you for 2021 which is full of hope and promise.
Vishav 01 January 2021 outlookindia.com 2021-01-01T07:39:40+05:30
The year 2020 was an interesting one when it comes to investments. On one hand, gold saw its remarkable surge, on the other, interest rates on fixed deposits fell. The most volatile among them, as expected, was the journey that equity markets went through. From levels of over 40,000 points, Sensex fell in a matter of weeks to below 25,000 points, a whopping correction of almost 40 per cent. And by the time the year ended, the equity market had bounced back into a remarkable bull run with new peaks. However, the year 2020, with all its ups and downs, has ended and a new year is on the horizon. So, here are the top five investment options for you for 2021 which is full of hope and promise.