VND Wealth Pvt Ltd

No matter how much (or little) you know about investments, stock markets, credit cards, and insurance, your financial planning is most likely to fail if you don't have a solid understanding of your money.  The first and possibly most crucial stage in financial planning is to have a solid understanding of your finances, or your financial situation, and to be able to manage them intelligently. So, what is your financial situation? 1) Earnings and Expenses: In order to assess how much money, you have in hand after taking care of your requirements and goals, what you make will be less important than how much you spend. To be in a better financial situation, one needs to set a ‘balance’ between earning and spending habits. And the same can be used as a benchmark to plan your finances. A positive or zero bank balance at the conclusion of most months corresponds to a weak financial trend, whereas a healthy bank balance at the end of the month typically indicates a tendency towards a stro

The New Regime has Lower Slab Rates and Fewer Exemptions than the Old Regime, which has Deductions and Exemptions. Employees must notify their employers of their preferred tax structure at the beginning of the new financial year. WHY DO YOU HAVE TO OPT FOR A TAX REGIME?  Because the CBDT (Circular no 04/2023) made it COMPULSORY for the Employers. Hence, employers are asking their employees for information about which income tax regime they wish to select. Accordingly, the employer will be deducting TDS. You must choose between the New and Old Tax Regimes; otherwise, the Employer will automatically deduct TDS in accordance with the New Tax Regime. The goal of TDS on Salary has no bearing on whether the taxpayer files an income tax return under the Old or New Income Tax Regime. It is modifiable during ITR filing. TIPS ON WHICH IS THE RIGHT TAX REGIME FOR YOU  For Income up to Rs 7 lakh the New Tax Regime is better  In case you don’t have Tax savings and Deductions to avail then consider