Things to do before end of financial year | Tax Harvesting | 80C | 80D & more Tax Saving Options
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- Опубликовано: 20 мар 2024
- Buy Term Plan & Get Online Discount Upto 10%👇
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Buy Health Insurance and Get up to 25% Discount 👇
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Before the end of the financial year on March 31st, it's crucial to take certain financial actions to optimize your tax savings and financial planning. Here's an elaboration on each of the mentioned points:
Maximize 80C Investments: Section 80C of the Income Tax Act allows taxpayers to claim deductions up to ₹1.5 lakh in a financial year by investing in specified instruments such as Equity Linked Saving Schemes (ELSS), Public Provident Fund (PPF), National Savings Certificate (NSC), Tax-saving Fixed Deposits, and so on. It's advisable to maximize your investments under this section to reduce your taxable income.
Extra NPS Benefit - Section 80CCD(1B): National Pension System (NPS) contributions qualify for additional tax benefits under Section 80CCD(1B) of the Income Tax Act. Taxpayers can claim an additional deduction of up to ₹50,000 over and above the limit of ₹1.5 lakh under Section 80C by investing in NPS Tier-I account. This can help in building a retirement corpus while saving on taxes.
Health Insurance - Section 80D: Premiums paid towards health insurance policies for self, spouse, children, and parents are eligible for deduction under Section 80D. The maximum deduction allowed is ₹25,000 for individuals and their families (₹50,000 if the taxpayer or spouse is a senior citizen). An additional deduction of ₹25,000 can be claimed for health insurance of parents (₹50,000 if parents are senior citizens). Ensuring adequate health coverage not only provides financial security but also reduces tax liability.
Benefits of Owning an Electric Vehicle: Governments often provide incentives and tax benefits for owning electric vehicles as part of their environmental conservation initiatives. These benefits may include subsidies on the purchase price, lower registration fees, lower road tax, and tax credits. Additionally, electric vehicles offer savings on fuel costs and lower maintenance expenses over their lifetime compared to traditional vehicles.
Tax Harvesting: Tax harvesting involves strategically selling investments such as stocks or mutual funds to realize capital losses, which can be used to offset capital gains and reduce tax liability. This can be particularly useful towards the end of the financial year to optimize tax efficiency in investment portfolios.
By addressing these financial tasks before the end of the financial year, individuals can not only save on taxes but also align their financial planning goals effectively. It's advisable to consult with a financial advisor or tax consultant for personalized advice based on individual financial situations and goals
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Buy Term Plan & Get Online Discount Upto 10%👇
tinyurl.com/bdeu8ynv
Buy Health Insurance and Get up to 25% Discount 👇
tinyurl.com/4c6m8cb5
In Tax harvesting method, while filing IT Tax whether we can show the Trading losses(Like Intraday, F&O etc.) also..?
The only thing I am getting confused is Tax Harvesting. All the other things are crystal clear understandable for, but it is hard for me to understand this tax harvesting, may be because I cannot find a live example or demo. So, please make a separate video
Agree on this
Yes please need more detailed video on Tax harvesting. Loss booking in particular. TIA.
Detailed video on Tax Harvesting pls?
Tax harvesting nalla well detailed ah explain panni podunga
Tax harvesting details much needed brother :)
Bro, I regular follower. Tax Harvesting பற்றிய புரிதல் எடுத்துக் காட்டாக கூடுதலாக explain பண்ணுங்க. We are waiting please.
I know all these things but your narration was awesome and crisp bro! 👍
Please explain if we sell our profits while tax loss harvesting it affects our compounding effect then how it works
Thanks bro . Tax harvesting video podunga
😄
Thanks bro . Tax harvesting video podunga
Tax harvesting video poduga bro
Need a detailed video on Tax harvesting bro
Pls make tax harvesting video separately
Already there
How to Save Taxes on Capital Gains? Ultimate Guide for Tax Harvesting
ruclips.net/video/g6jzIVRztEc/видео.html
@@finance.boosan Thank you
Bro you are the best. Video podunga tax harvesting ku
Much needed info 💯😅
Hi sir. Please make a video of when and how to file trading losses (equity and fno)..
Tax saving Full video podunka bro
How to Save Taxes on Capital Gains? Ultimate Guide for Tax Harvesting
ruclips.net/video/g6jzIVRztEc/видео.html
Nice video thanks you bro
Please share more about Tax Harvesting bro!
Hi bro... Heartly Appreciation to you for taking efforts to make informative videos..
Can you make a separate video on Tax Harvesting with examples?? For easy understanding.
Thank you
How to Save Taxes on Capital Gains? Ultimate Guide for Tax Harvesting
ruclips.net/video/g6jzIVRztEc/видео.html
Useful information... Thank you so much.. last month onwards I am following your videos... I am looking for expensive radio calculations... Can u guide me regards my query...
Tax savings detail video please
❤❤❤❤ Great brother
Information top notch❤
Is it good to take term insurance from policy bazaar? Or better take it from direct insurance company?
Thanks bro..
In Tax harvesting method, while filing IT Tax whether we can show the Trading losses(Like Intraday, F&O etc.) also..?
I had tata metallics and it is changed to tata steel now, It is considered as realised profit for tata metallics??
@Finance Boosan you course offer it not showing 40% it reflects only 10%, but in video we see it to be 40% can u increase the offer time? Atleast till March end?
Hi. Brother
Make a video about MF utilities and MF central.
Thanks
Can we buy more stocks when we are in profit on the same stock? Stocks like ITC, Reliance etc
How does tax harvesting work for sip s.. as I can sense if we sell we probably end up having stcg for last 1 year profit?
வாழ்த்துக்கள்
Hi bro.. Tax harvesting epdi implement pandrathunu quick view kudunga bro.. like which stock we should sell first? Loss maker or profitable one?
Gross pl or net pl is considered bro
Tax harvesting topic pls
Do video of Old regime vs new regime explanation and which one to opt?!
Income Tax Planning Guide 2024 | Tax Saving Options | Old vs New Regime
ruclips.net/video/BlNuqacSf50/видео.html
Mutual fund la sip la compounding epdi aagum adha pathi konjam detailed aa video podunga bro. 🙏🙏
tax full video pannuga bro
If my annual income is under the IT slab, should I be required to pay tax for short term profit?
Tax harvesting pathi podunge na video
Nice video bro,
But LTCG amount will be added to taxable income even though it is taxed or it fall under that 1L limit
Pls do tax loss harvesting video
Everything you said maximum we can cover upto 1.5l only 😢......nps is very long period 😅....insurance I think only option or house loan to show in old regime😊
Bro, put some video explanation about zerodha liquidcase how it is different from other liquidbees..
Flexi SIP in Mutual funds pathi sollunga
Tax harvesting explain pannunga bro
Bro pls make video on tax harvesting
Bro is this taxation applicable to senior citizens as well?
Need more video
Tax filing video podunga bro
nippon 5k ,,Edelweiss multi cap 6 k
Please put video about New tax regime advantages compared to old regime
Income Tax Planning Guide 2024 | Tax Saving Options | Old vs New Regime
ruclips.net/video/BlNuqacSf50/видео.html
Tax harvesting vdo podunga
tax harvesting video podonga bro... epadi work ahguthu .. with and without tax harvesting nu.. comparison mathiri video podonga bro ..
Need more details ❤😊
Tax harvesting video podunga bro
வேற ல் sir
Pls make tax harvesting detailed video or series of videos
Hi brother, I have been repaying home loan for 4 years and I have declared that in tax exemptions until now, which is now closed, so in this case can you please tell me if I can opt for HRA in the next financial year by paying rent to my mother who is also the co applicant of closed home loan
Hy boosan....I wanted to invest in Us market..so I invested in Navi nastaq 100 fund , but they temporarily stopped , so I started in motilal oswal nastaq 100 etf and also in mirae asset sp 500 top 50 ETF but this 2 ETF is overlapping at 50 percent of stocks but need to get US market exposure so even Bal 50 is the good exposure to get that so shall kep investing in both or shall I h investing in only one?
Need tax harvesting video. pls!
Yenkitta apollo hospitals 2 quantity irukku 1 one year mela aedichi 1 year agala Ippo 1 share mattum sell panna yenakku long term capital gains la varuma or short term capital gains la varuma
Pls do hands on video for tax harvesting
To Claim NPS deduction this year can I not open after 31st March. Don't have the money to do now but want to open next month can you please help! Thank you.
this applicable also trading person set aguma pls mention itr type
Bro New tax regime la tax epd save pannalam nu oru video podunga bro..
Can you please share the NPS full details
Tax harvesting explain more
80D medical expenses for senior citizens upto 50,000 .
In this category what kind (check up, pharmacy bills) of medical expenses we can show sir..
Bro, can we tax harvesting if gains are less than 1 lak?
Bro pls put video for US STOCKS TAXATION and how to file for it
Tax harvesting and tax filing for both salary and capital gain how to do
Its not employer pf right..its employee pf which will be in 80c exemption
Hi bro
About Post office life term insurance
Last month March-2024 , I sold small cap Mutual fund , profit of Rs.80000 , no tax . Now New finanical year started after March 31 , if I sell now , profit upto Rs.1 Lakh, No tax , correct ?
Bro 22 - 23 short term gain 46 k + , this year short term gain 58 k - but last year tax kattala ethum problem akuma, but last year salary tax filed by my company side - kindly explain
Hi na... Ipo spouse housewife avangalku money monthly send panna adhu tax exemption la varuma if so how much maximum?
Waiting for Tax harvesting video bro
Suppose 50000 rs capital gain tax set off how much loss I have to book ?
Need Tax harvesting video
Hi brother i have one doubt
I already paying income tax every month from my salary
If i book profit 1.25 lakh from selling of share after 1 year ,
Whether i have to pay LTCG (10%) of Rs.25000/- or entire profit amount?
Because i already income tax payee
Nega endha company la team insurance eduthu irukiga
Policy bazaar use Pani 1 lakh invest pana ,80c la 1 lakh kamikamidiyuma
Tax harvesting video please
80C is available only in old tax regime
Sr.Citizens VVY scheme is not available from Fin Year 2023-24.
Tax harvesting full detail video vennum bro
EPF 80c la thana varum illa extra vula varuma
Hi. Your videos are well exolained and completely data driven. I have a doubt , in elss index the AUM for all the AMCs is not even 100 cr. It doesnt meet out our criteria of >600cr. Will this still be a wise idea to go for this?
New funds will have lesser AUM. If they are all index based lower AUM should not be a concern
Thank you boosan. That was really helpful. Appreciated)
What about new tax regime
Bro i started with 47 k now 72k with i.e i got 25k realised profit but already i had paid 5k in brokerage,stt,gst,etc anyway to reduce this taxes kindly reply anna
Bro Annual income 4 lahk + short term capital gain 28,000 new regime Padi Income tax stcg paid pannuma bro
Tax harvesting pana cagr adipadum bro. Vaanguna price vera vaanga pora price vera bro. Don't misguide
Give some space to think
This old regime will be removed soon..😂
Pls make tax harvesting video
Need tax harvesting detail video
Tax epo kattanum nu solunga.
section 80 EEB can be availed this year? or over for electrical vehicle?
Applicable if the loan for EV is sanctioned between 1 April 2019 till 31 March 2023.
@@finance.boosan
Bro, Plz make clarification on below scenario of daily market conditions like,
day 1: -3%
day 2: +7%
day 3: -5%
Should I consider day3 as an opportunity for lumpsum Topup in my existing SIP's?
I'm very much confused about identifying the opportunity time for lumpsum topup by daily big moves in the market. Bcoz, if we take an average of market movement in a week it could be as possible as 0% to 2%.
I hope you might understand my doubt and come up with clear explanation.
Advance thanks for your great work to creating financial awareness to common people 🙏🏻❤👍🏻
Eppadi 470rs ulla term insurance edukaradhu nu video poda mudiyama ji 😁easy huh promote pannaringa yaaruku mattum 470rs term insurance kidaikum nu oru promotion video podunga 👍