Question 1

How can I save tax using mutual funds in India?

Accepted Answer

You can invest in ELSS (Equity Linked Savings Scheme) mutual funds to claim deduction up to ₹1.5 lakh under Section 80C of the Income Tax Act. ELSS has a 3-year lock-in and offers equity market returns along with tax savings.

Question 2

What is the tax on long-term capital gains (LTCG) from equity mutual funds?

Accepted Answer

From FY 2024-25, LTCG on equity mutual funds held over 1 year is taxed at 12.5% on gains exceeding ₹1.25 lakh per year. Short-term capital gains (STCG) on equity funds (held under 1 year) are taxed at 20%.

Question 3

What is Section 80C and what investments qualify?

Accepted Answer

Section 80C allows deductions up to ₹1.5 lakh per year. Qualifying investments include ELSS mutual funds, PPF, NSC, 5-year tax-saving FDs, EPF contribution, life insurance premiums, and home loan principal repayment.

Question 4

What is the difference between Old Tax Regime and New Tax Regime?

Accepted Answer

The Old Regime allows deductions (80C, 80D, HRA, etc.) reducing taxable income. The New Regime (default from FY 2024-25) has lower slab rates but no deductions. Finadore's tax calculator at finadore.com/calculators shows you which is better for your income.

Question 5

What are 54EC capital gains bonds for tax saving?

Accepted Answer

54EC bonds are government-backed bonds (NHAI, REC, PFC, IRFC) that exempt long-term capital gains tax when invested within 6 months of selling a long-term capital asset like property. Maximum ₹50 lakh/year, 5-year lock-in, ~5.25% interest.

Question 6

How does Finadore's CA partner help with tax planning?

Accepted Answer

Finadore works with a network of CA partners who help with ITR filing, GST advisory, capital gains calculation, HRA claims, investment-linked deductions, and complex tax situations including doctor income structuring.

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Every Deduction You're Entitled To

Section 80C (₹1.5L limit)

Section 80D — Health Insurance

Section 80CCD — NPS

Capital Gains Planning

HRA & Home Loan (Section 24)

Business & Professional Tax

Expert CA Partners, Curated by Finadore

Personal Income Tax

Business & Corporate Tax

GST Advisory

Capital Gains & Property

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