Samriddhi Volume 12 Edition 02 by ABSLMF
The Union Budget 2024 introduces key reforms to support economic growth and strengthen personal finances for salaried individuals, investors, and business owners. New Tax Saving Investments and a higher Standard Deduction help improve take-home income, while Capital Gains Tax Changes and the Securities Transaction Tax Increase reshape investment strategies.
The budget also prioritises development through Capital Expenditure Increase, driving initiatives like Smart Cities Development and the Housing for All Scheme. A strong push toward sustainability is evident through Renewable Energy Investment India, alongside inclusive measures such as Women-Led Development Schemes, Skill Development Program 2.0, and National Pension Scheme for Minors. Healthy GST Collections FY 2024-25 reflect growing economic confidence.
Key Insights:
• New Tax Saving Investments aim to simplify taxes and ease the financial load for the middle class.
• A higher Standard Deduction gives individuals more financial flexibility.
• Capital Gains Tax Changes India require investors to rethink strategies.
• Increased Capital Expenditure Increase supports growth through infrastructure and urban development.
• Social programs like Women-Led Development Schemes promote inclusive progress.
Takeaways:
• Taxpayers can benefit from new deductions and should plan accordingly.
• Stay updated on capital gains reforms to manage your investments better.
• Development projects under Smart Cities Development offer new opportunities.
• Renewable Energy Investment India supports sustainable growth.
• Factor in the Securities Transaction Tax Increase when trading.
Why Download This Edition eBook?
• Decode complex reforms like Capital Gains Tax Changes and Tax Saving Investments in simple terms.
• Learn how to benefit from schemes like Housing for All Scheme and Skill Development Program 2.0.
• Navigate changing tax and market landscapes with confidence.
• Get actionable advice for financial planning, including mutual funds and retirement options.
• Equip yourself with knowledge to make smart, future-focused decisions.
Download Union Budget 2024 and Your Money | Samriddhi Volume 12 Edition 02 and take charge of your financial future!
Frequently Asked Questions on Tax Saving Investments
Which are the best Tax Saving Investments after Union Budget 2024?
The best Tax Saving Investments include options like ELSS (Equity Linked Savings Scheme) mutual funds, NPS (National Pension System), PPF (Public Provident Fund), and tax-saving fixed deposits, depending on your risk profile and goals. The Union Budget 2024 also introduces new measures to simplify tax planning for middle-income earners.
How can I invest to reduce my income tax legally in India?
You can reduce your tax burden by investing in eligible Tax Saving Investments under Sections 80C, 80CCD, and other applicable provisions. Strategic planning across mutual funds, pensions, and long-term schemes is key.
Which investment is the most tax-efficient for long-term wealth creation?
Equity-linked investments like ELSS funds are considered among the most tax-efficient investment, offering tax benefits along with long-term growth potential. Understanding capital gains rules post-Budget 2024 is essential before investing.
Are SIPs completely tax-free investments?
No, SIPs are not 100% tax-free, but SIP (Systematic Investment Plan) in ELSS funds qualify as Tax Saving Investments with deductions under Section 80C. Taxation depends on capital gains rules, which have been revised in Union Budget 2024.
How does Union Budget 2024 impact Tax Saving Investments and financial planning?
Union Budget 2024 introduces changes like higher standard deduction and Capital Gains Tax Changes that directly affect Tax Saving Investments. Download the Union Budget 2024 and Your Money eBook to understand how to plan smarter and make financial planning and tax-efficient decisions.
Click Here to Visit Different Editions of Volume 12:
Financial Empowerment for Women |
Tax Saving Investments.
Disclaimer:
The Tax calculation shown above is for illustration purpose and general information only. Amount(s) mentioned above may undergo a change if assumptions specified herein do not hold good. Investors are advised to read the scheme information document of the scheme carefully before investing and consult their Tax Consultant or Financial Advisor to determine tax benefits applicable to them.
An Investor education and Awareness initiative of Aditya Birla Sun Life Mutual Fund.
All investors have to go through a one-time KYC (Know Your Customer) process. Investors to invest only with SEBI registered Mutual Funds. For further information on KYC, list of SEBI registered Mutual Funds and redressal of complaints including details about SEBI SCORES portal, visit link: https://mutualfund.adityabirlacapital.com/Investor-Education/education/kyc-and-redressal for further details.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
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