Tax Advantage

401(k) Plan: A Comprehensive Guide to Retirement Savings

Pension, Planning, Retirement Planning / By My Finopedia / July 7, 2023 July 7, 2023

If you’re an employee working in America, you can take the incentive of the employee’s retirement savings plan. It was introduced in 1978 with the name of the provision of the Revenue Act, 1978. In this act, if an employee serves under a company, he will get a particular percentage of his paycheck deducted for …

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National Savings Certificate (NSC): All Features & Tax Benefits

Investing, Section 80C, Tax Saving / By My Finopedia / January 22, 2023 February 2, 2023

NSCs, or National Savings Certificates, can be used as security for bank loans. According to Section 80C of the Income Tax Act of 1961, the owner receives tax advantages. Meaning The National Savings Certificate (NSC), available at the nearby post office under your name, for a minor, or on a joint account with another adult, …

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