How much should I contribute to PF or PPF annually?

Subodh Founder of Dhanwise
Answered 2 days ago

PPF or PF is a very important investment avenue and should form part of any salaried person’s retirement planning.Investment portfolios can be a combination of equity an… ( more )

PPF or PF is a very important investment avenue and should form part of any salaried pers… ( more )

How to compute long term capital gain on selling property?

Subodh Founder of Dhanwise
Answered Sep 6, 2019

The formula to compute long term capital gains is:capital gains = selling price - cost of acquisitionYou are allowed to index the cost of acquisition to inflation i.e. y… ( more )

The formula to compute long term capital gains is:capital gains = selling price - cost of… ( more )

How to compute tax liability of life insurance proceeds at maturity?

Subodh Founder of Dhanwise
Answered Sep 4, 2019

Payout received form a life insurance policy i.e. sum assured plus any bonus, may or may not be taxable.According to Section 10(10D) of the Income Tax Act, the payout is… ( more )

Payout received form a life insurance policy i.e. sum assured plus any bonus, may or may … ( more )

How to pay taxes from both salary and freelancing income?

Subodh Founder of Dhanwise
Answered Jul 29, 2019

If your income from from the freelancing is less than Rs 50 lakhs then you can file your taxes under section 44ADA (Presumptive Taxation Scheme or PTS). Please… ( more )

If your income from from the freelancing is less than Rs 50 lakhs then you can … ( more )

What is Presumptive tax scheme and when to file income tax return?

Subodh Founder of Dhanwise
Answered Jul 21, 2019

Nawaz, I hope you have gone through this question How to compute taxes for a freelancer?What is presumptive tax scheme (PTS)?A person engaged in business is required to … ( more )

Nawaz, I hope you have gone through this question How to compute taxes for a freelancer?W… ( more )

How to compute capital gains tax for redemption after doing SIP?

Srinivasan Software Pro Turned Investment Advisor
Answered Jul 9, 2019

Vishal,  first off, investing in mutual funds is not tax free after 1 year. There are many types of mutual funds and the gains are indeed taxed.  The table bel… ( more )

Vishal,  first off, investing in mutual funds is not tax free after 1 year. There ar… ( more )

How to compute income tax as a remote employee for a foreign company?

Subodh Founder of Dhanwise
Answered Jul 8, 2019

You have mentioned that your contract indicates an 'employee-employer' relationship. So it looks like this job is that of a remote employee and not a freelancer. So I do… ( more )

You have mentioned that your contract indicates an 'employee-employer' relationship. So i… ( more )

How to compute taxes for a freelancer?

Srinivasan Software Pro Turned Investment Advisor
Answered Jun 21, 2019

Note: This question is best answered by a tax expert or CA. If you are a resident of India, then  your income earned is taxable. There are specific exceptions to th… ( more )

Note: This question is best answered by a tax expert or CA. If you are a resident of Indi… ( more )

How to handle excess money in NRE account?

Rahul Independent Financial Advisor
Answered Jun 14, 2019

To start with, when you are looking at holding money in any account or fund, there always has to be a reason or goal attached to it. The reason can be as simple as eme… ( more )

To start with, when you are looking at holding money in any account or fund, there alway… ( more )

What is the Tax Treatment on Mutual Funds for resident individuals and NRIs?

Rahul Independent Financial Advisor
Answered Jun 14, 2019

Tax treatment depends on three parameters:1.       Type of Asset (Equity or Debt)2.      Investor category (I… ( more )

Tax treatment depends on three parameters:1.       Type … ( more )

Tax on sale of self constructed house

Subodh Founder of Dhanwise
Answered May 6, 2019

It is possible to treat the land and house as separate assets. You can bifurcate the sale amount between land and building on the basis of market value of each of them. … ( more )

It is possible to treat the land and house as separate assets. You can bifurcate the sale… ( more )

Tax saving under 80C - NPS vs ELSS vs PPF

Srinivasan Software Pro Turned Investment Advisor
Answered Jun 8, 2019

Before we get into the answer lets compare the 3 schemes, very briefly. It is difficult to describe all the features of ELSS, PPF and NPS in a single answer. So here is … ( more )

Before we get into the answer lets compare the 3 schemes, very briefly. It is difficult t… ( more )

Which is better for short term - high interest savings account or debt funds?

Srinivasan Software Pro Turned Investment Advisor
Answered May 22, 2019

This is a great question. The short answer is this: If your corpus is small (< 3 lacs) and if the time horizon is less than 3 years, it can be simpler to park the mon… ( more )

This is a great question. The short answer is this: If your corpus is small (< 3 lacs) … ( more )

Tax deduction on medical expenses for senior citizens

Preeti SEBI Registered Investment Advisor
Answered May 13, 2019

For FY 2019-20, Section 80D of the income tax act allows deduction of upto Rs 50,000 for medical expenses incurred by senior citizens, if and only if they are not covere… ( more )

For FY 2019-20, Section 80D of the income tax act allows deduction of upto Rs 50,000 for … ( more )