Ever felt the urge to follow the crowd when investing? That’s herd mentality at play. Let’s explore its impact with some eye-opening facts! A study by Barber and Odean found that individual investors who follow the herd tend to earn 3.5% less than the market annually. (Barber, B. M., & Odean, T. (2000). “Trading is […]
Making investment decisions based on FOMO? Explore how the fear of missing out impacts your financial choices! Fear of missing out (FOMO) is the anxiety that others are experiencing something desirable that you are not. While investing, this bias can lead to impulsive decisions to buy into trending assets or markets, driven by the fear
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Are you overly optimistic about your investments? Understand how optimism bias can skew your financial strategies! Optimism bias is a cognitive bias that causes individuals to believe they are less likely to experience negative events and more likely to experience positive ones. In the context of investing, this can lead to overestimating potential returns and
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1. What Are Income Tax Slabs? Income tax slabs define the progressive tax rates applied to different income ranges. As your income increases, the applicable tax rate also increases—a system aimed at equity and fairness in taxation. 2. Old Regime vs New Regime Old Regime: Higher tax rates, but allows deductions/exemptions (like 80C, 80D, HRA,
Ancient Beginnings Mentioned in Manu Smriti, with traders & artisans paying ~20% of income; agriculturists paid between 1/6 and 1/10 in kind. Kautilya’s Arthashastra (~230 BC) introduced structured taxation: fixed rates (e.g. 1/6 for farmers), progressive slabs, scheduled payments, tolls, export/import duties First Modern Income Tax – 1860 Introduced by Sir James Wilson to offset losses
What is Income Tax Income tax is a portion of your earnings that you pay to the government. It’s used to fund vital services like healthcare, education, infrastructure, and national security. TAX – Let’s Start Simple! Think of income tax as your share in keeping the country running. The money you contribute helps maintain public
Filing your Income Tax Return (ITR) can feel overwhelming, especially when you’re unsure about the different forms involved. Two of the most crucial documents in this process are Form 16 and Form 26AS. While Form 16 is issued by your employer and shows the TDS deducted from your salary, Form 26AS is a consolidated tax
Form 16 vs Form 26AS: Know The Difference Before Filing Your ITR Read More »
Not all tax-saving options are the same.From ELSS to PPF, NPS to FDs, each option comes with its own benefits, risks, and lock-in periods. ELSS (Equity Linked Saving Scheme)• Lock-in: 3 years (Shortest!)• Returns: Market-linked (10–12% avg)• Tax Benefit: U/S 80C up to 1.5L• Ideal for: Long-term equity investorsRisk: Moderate to HighGreat for wealth creation
Filing your ITR online? Here’s a quick step-by-step guide to help you do it right! Why E-File ITR?Convenient & secure: File from anywhere via the official Income Tax portal or a trusted platform.Refunds faster, errors minimized.Mandatory for many-don’t risk penalties! Step-1Log in to the Income Tax e-Filing portal or ClearTax. Step-2Navigate to e-File → →
Understanding the different sources of taxable income is the first step to smart tax planning. Whether you’re earning a salary, renting a home, or trading in stocks, each type of income is treated differently by the tax department. Salary Income:Income received from your employer, including basic pay, HRA, bonuses, and allowances. Taxed under “Income from
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