The first step towards that is the planning of income tax which should begin in beginning of each financial year, there should be various goals which each individual has in future to save or to invest in various vehicles to accumulate an income for future, these goals and planning for future has the key to save income tax for us.

3 Steps for better life planning for medium class salaried individuals. Before saving money,an individual should first plan for emergencies like illnesses, terminal illnesses etc. for himself and his dependents, as they can eat away your hard-saved money in no time if encountered. This too depend on age group of the individual or the status whether he is married of unmarried.

A comprehensive overview of the significant changes in capital gains tax introduced in the 2024 Union Budget, impacting both short-term and long-term gains across various asset classes.

The Salaried individual are well aware of the part of their PF from employer's share goes to provide pension benefit for contributor. Let's discuss in details below.

The senior and super senior citizens enjoy a higher exemption limit for income tax as compared to tax payable individuals with lower age than senior citizens.

Detailed insights into how leave encashment is taxed in India for government and private sector employees.

VPF or voluntary Provident fund is a great option for salaried to bet on a safe and rewarding option with power of compounding to accumulate wealth in long run. The VPF returns are guaranteed and endorsed by the government and is normally near to 8.5% yearly, the government decides the interest each year for EPF which is applicable to VPF contribution too.

Advance tax, as the name suggests is the tax that has to be paid in advance. The section 208 of income tax act provides the provisions for Advance Tax. The TDS which is deducted by employers for salaried individuals is also a type of advance tax whose liability is calculated annually by the employer based on the deductions and tax saving investments declared by the employees to their employer.

A detailed explanation of the GST changes on used cars, including EVs, and their implications for businesses and individual buyers.

APY gives a guarantee to its subscribers a minimum pension amount that can range from Rupees1000 to 5000 per month, when they attain an age of retirement.