"Dhanteras" is celebrated just two days before Diwali which is considered an auspicious day for purchasing jewelry, property, and other valuables items that symbolize good fortune and prosperity.
Some smart investments you can plan on this Dhanteras are:
Benefits on Gold Investments
Purchasing gold or digital gold has become popular around Dhanteras. So, now let us understand what's the tax implication. Tax is applied to capital gains from selling gold, but holding it for over three years qualifies it as a long-term capital asset, with indexation benefits reducing tax liability.
Tips on Home Loans and Property Investments
Dhanteras can be a good time for investments u/s 80C, as it will offer tax-saving benefits on principal repayment and Section 24(b) on home loan interest while aligning with long-term wealth-building goals.
Exemptions on Gifting Options
This festive involves exchanging gifts. Gifts from close family members are exempt from tax, but it exceeds Rs.50,000 from non-relatives those are taxable under "Income from Other Sources." So, keep a note it's beneficial to understand the tax-free gifting limit of Rs. 50,000 to avoid additional tax liabilities.
GST on Festive Purchases
High-value items like electronics, etc. may attract GST, impacting purchase costs. Understanding applicable GST rates helps in planning big-ticket purchases wisely.
Benefits Investing in Government Schemes
As Dhanteras marks a time for wealth accumulation, so you can invest in tax-free government schemes like the Sukanya Samriddhi Yojana, PPF, and Senior Citizens Savings Scheme, which offer tax benefits and stability.
These tax insights can help maximize financial planning and tax efficiency during the festive period.
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