Contact Us


Ask us, we will reply fast

 For any investment related queries, income tax news, latest income tax updates and investment advice, feel free to contact us. You can also send email to moneysmartsave@gmail.com and we will get back to you!

Your Name :

Your Email: (required)

Your Message: (required)



Popular posts from this blog

GST – Goods and Services Tax Explained in Most Simple Words

Image
What is GST? GST or Goods and Services Tax is one of the largest indirect taxation reform in India. It was implemented on 1st July 2017 and aims at transparent tax regime. It is levied on most goods and services sold for domestic consumption. The purpose is to eliminate all indirect taxes and only GST would be levied on both goods and services. GST Benefits GST replaces various indirect taxes and makes it easier for the business people to pay taxes. GST puts an end to all other taxes that industrialists need to pay. Also, as GST filing is online and the whole process is transparent and easy. GST is a single indirect tax and ensures that there are no taxes on already taxed product. Thus, it reduces hidden costs involved in doing business. One is saved from “tax on tax” throughout the value chain. What are the components of GST? There are three taxes applicable: CGST : Collected by Central Government on intra-state sale: i.e. wi...
Read more

PPF in the Name of Minor: Things You Cannot Miss Out

Image
Public Provident Fund Account for Minors One major misconception in the minds of people is that PPF cannot be opened in the name of minors. PPF accounts can be opened in the name of minors and here’s everything you need to know about opening a PPF account for your children. Who can open PPF for minor child? Guardians can open PPF account for their minor child where guardian is Either father or mother Guardian under the law can also open PPF account where parents are not alive Guardian when surviving parent is incapable of acting. How much can I Invest in PPF for Minor? Whether you invest in PPF in your own account or in the name of minor in which you are guardian, the tax deduction remains at Rs. 150000 per financial year. Thus, the total amount you can deposit in both accounts of your’s and your child’s should not exceed Rs. 1.5lakh. Special Benefits of PPF Minor Account The lock-in period of PPF account is 15 years. When the child becomes m...
Read more

Everything You Need to Know about Public Provident Fund (PPF)

Image
Public Provident Fund or PPF is one of the best investment opportunities available for Indian residents. In addition to good returns, it offers Income Tax deductions as well. Here, we get into the complete details about PPF. How is eligible to open PPF? Resident Indian Individuals Individuals on behalf of minors What is the tenure of PPF? It has a minimum tenure of 15 years and can be extended in blocks of 5 years. What are the benefits of PPF? Interest is fully exempt from Income Tax under Section 80C Attractive interest rates You can deposit as low as Rs. 500 and maximum of Rs. 150000 in one financial year. (1 st  April to 31 March) When can I withdraw money from PPF? Partial withdrawals are allowed before the completion of 15 years. You can withdraw up to 50% of balance in PPF account after completion of five years from the end of year in which subscription was made. This can be better understood with the help of an example. Suppose you...
Read more