You must be conscious that the financial year is coming to an end and you need to consolidate on your income for the financial year. Indian financial year starts from 1 April and ends by 31 March. Accordingly, the Income-Tax return is to be prepared and filed for the relevant financial year.

Are you a salaried employee and in a hurry to do tax-planning as the season is coming to an end? Don’t end up paying more taxes than you are obligated to. If you are unaware of different incentives, allowances and rebates under Income Tax Act, here is the information useful to you. Salaried people should put in sufficient time and effort to the tax-planning. You should be aware of the various benefits that you can avail of.

Yes, you are getting it right! It’s possible. Losses can also be advantageous sometimes. Usually, losses make investors feel lost. But, thanks for the initiatives taken by the Government. It has made various provisions in tax laws which prove helpful for investors who have ended up with losses while selling or transferring any asset they own, say houses, land, gold, shares, bonds, debentures or mutual fund units.

Suddenly, in this season of tax-planning, have you realized how important it is to buy a house through loan? By this time, you should have learnt that you can avoid paying tax on the amount that goes for interest and part-payment of the loan. So, you have decided to own a house. That’s good! It’s better late than never. You are on the right path of tax-planning. But, by the time you become legal owner of a house you would feel drained. You have to overcome several hurdles.

Are you one among them rushing in the eleventh hour to evade unnecessary tax? We, at PagalMoney, always advise you to keep space for tax-saving asset classes in your portfolio. You should not be searching for tax-saving options in the last minute. Tax-planning should not be different from your investment planning; rather it should be an integral part of your portfolio.