Sangam Sharma Blogs

Long-term wealth creation is a goal that many people strive for, but few are able to achieve. In today's world, where we are bombarded with quick-fix solutions and get-rich-quick schemes, it's important to remember that building wealth takes time, patience, and discipline. In this blog post, we will discuss some strategies for long-term wealth creation that can help you achieve your financial goals. Start early and invest regularly The earlier you start investing, the more time you have for your investments to grow. Even small amounts of regular investments can compound over time and lead to significant wealth creation in the long run. This is why it's important to start investing as soon as possible, even if you can only afford to invest a small amount each month. Diversify your portfolio Diversification is another essential strategy for long-term wealth creation. By spreading your investments across different sectors, asset classes, and geographies, you can reduce your ov

 Introduction: The Union Budget 2023 has brought significant changes in the Indian taxation system by introducing a new tax regime for individuals and Hindu Undivided Families (HUFs). The new tax regime provides a lower tax rate for taxpayers who are willing to give up their exemptions and deductions. The old tax regime, on the other hand, continues to offer tax exemptions and deductions. In this blog, we will analyze the differences between the new tax regime and the old tax regime in the context of the Budget 2023. New Tax Regime: The new tax regime introduced in Budget 2023 offers lower tax rates to individual taxpayers and HUFs. Under the new tax regime, taxpayers can choose to forgo their exemptions and deductions and pay taxes at lower rates. The new tax regime has seven tax slabs ranging from 1% to 35%. The tax rates under the new regime are as follows: Up to Rs 2.5 lakh: Nil Rs 2.5 lakh to Rs 5 lakh: 1% Rs 5 lakh to Rs 7.5 lakh: 5% Rs 7.5 lakh to Rs 10 lakh: 10% Rs 10 lakh to R