Gupta Investments Financial Services Private Limited

  We remember most of the iconic Bollywood movies with their memorable dialogues. Same goes with the dialogue, “Picture abhi baaki hai, mere dost.” We can easily relate this dialogue to real life, when we talk about retirement. Retirement is not the end of life; rather it is the beginning of the second inning of life. Another dialogue we may remember, “ Zindagi badi honi chahiye, lambi nahi .” But what will happen if we live a life longer than expected and don’t have a planned corpus to take care of our financial needs and lifestyle maintenance? Hence, it is very important to plan for it in advance to avoid a crisis later. “Tareekh pe tareekh, tareekh pe tareekh.” We tend to keep on postponding the decision, when it comes to starting saving for retirement, thinking that we still have time to think about it. Early planning for retirement is always advantageous in bringing you closer to the required retirement corpus. The money you pooled grows significantly over time with the power of

  HRA stands for House Rent Allowance which is part of salary component. Now that you are aware of the full form, but are you aware what is the advantage of HRA? How HRA can be utilized in claiming tax exemption to lower as well as save tax? House Rent Allowance is an amount paid by the employer towards an employee’s rental accommodation. House Rent Allowance (HRA) is a part of an employee's salary that cab be subject to partial or full tax deductions. The HRA calculation depends on various factors. Self-employed individuals can also avail of deductions and tax exemptions towards House Rent Allowance (HRA). They can claim these benefits by utilizing Section 80 GG. HRA in detail​: So, let’s understand more about House Rent Allowance. The HRA is a part of taxable income from salaries. While filing Income-tax return, the same should be shown under the head income from salary. However, exemption is available under section 10(13A) The exemption is based on certain set of cond