A person can have an income of more than Rs 25 lakh without paying any tax. Wondering how? That is what the author calls the Magic of Family Tax Planning.
We saw how gifts can be a tool for tax planning earlier. This month we examine in detail how considering the family as a unit helps in tax planning.

Mutual Funds (MFs) have emerged as a preferred parking place for all investible funds, both of retail and corporate investors. Those who have a large risk appetite go in for equity-based or sectoral schemes. Balanced schemes are designed for those with a smaller risk appetite whereas those who would like to have safety above all the other considerations invest in pure debt schemes.
In other words, there are different horses for different courses.
In last month’s insurance++ we saw some flavours of MF schemes and specifically what scheme suits a particular class of investors or clients in a certain financial status or situation.
In this month’s column we will see what investment options are available in each MF and the benefits of each one so that your client can choose.

While the National Federation of Insurance Field Workers of India (NFIFWI) is willing to support the cause of financial literacy in the country, they are opposed to the withdrawal of agents’ commission. They have met Mr D Swarup, Chairman, and handed over a memorandum outlining the reasons for their protest.