Expert Opinion

Tax Saving Mistakes to Avoid in 2022

Do you think March is a special month? Because you shouldn’t! As the financial year nears its end, people across India make the same mistakes again and again. As the Founder of Cube Wealth, I find bad tax-savings measures more annoying than Tom finds Jerry. I usually focus on ways to create wealth but, today I’ll talk about tax saving mistakes to avoid like the plague!
November 8, 2024
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Do you think March is a special month? Because you shouldn’t! As the financial year nears its end, people across India make the same mistakes again and again. As the Founder of Cube Wealth, I find bad tax-savings measures more annoying than Tom finds Jerry. I usually focus on ways to create wealth but, today I’ll talk about tax saving mistakes to avoid like the plague! You can consult a Cube Wealth coach or download a Cube Wealth app

Know What Your Taxable Income Is

If you are a salaried professional this is something you can do easily. You must look at your gross income and understand what your taxable income is. This is the income you are left with after all deductions. Look at what income you have to pay tax on after you’ve taken into account everything from your EPF, PPF, and Home Loan EMI to your rent and tuition fees, etc.

Never Invest Before Analysing

Not analysing all your options before investing for tax saving is like filling yourself up with starters at a buffet before seeing what the mains are; only this mistake will cost you much more than an unhappy palate. Speak to a wealth coach, get a financial advisor’s opinion, and invest

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