ASSET ALLOCATION:
  Rule of thumb: 100 minus age = equity percentage
    Age 25: 75% equity, 25% debt
    Age 50: 50% equity, 50% debt
  Rebalance annually: sell what's grown, buy what's lagged

EQUITY INVESTMENT:
  Direct stocks: higher risk, need analysis skills
  Mutual funds: diversification, professional management, SIP convenience
  Index funds: passive, low cost (0.1–0.2% expense ratio), beat most active funds
  
  Valuations:
    PE ratio: Price-to-Earnings | Below 20 = reasonable | >30 = expensive (for Nifty)
    Market cap: large-cap (stability), mid-cap (growth), small-cap (high risk/reward)
  
  AVOID: stock tips, penny stocks, F&O trading without expertise

DEBT INSTRUMENTS:
  PPF (Public Provident Fund):
    Tenure: 15 years (extendable) | Lock-in: 15 years (partial withdrawal after 7)
    Interest: ~7.1% p.a. (government-declared quarterly)
    Tax: EEE (Exempt-Exempt-Exempt) — investment, interest, maturity all tax-free
    Limit: Rs.1.5 lakh/year (also under 80C)
  
  EPF (Employee Provident Fund):
    12% salary + 12% employer contribution (8.33% goes to EPS pension)
    Interest: ~8.15% p.a. | Tax-free on withdrawal after 5 years
    Transfer UAN when changing jobs — do not withdraw early
  
  FD vs Debt Mutual Fund:
    FD: guaranteed return, TDS on interest, simple
    Debt MF: potentially higher post-tax returns for high earners (indexation benefit removed 2023 — reconsider)

HOME PURCHASE ANALYSIS:
  Buy only if: EMI ≤ 40% of monthly income | Property cost ≤ 30× monthly rent
  Real cost of home loan: Rs.50 lakh at 9% for 20 years = total payment Rs.1.08 crore
  Opportunity cost: compare EMI invested in equity vs home appreciation
  Rent vs Buy: rent if staying <5 years, buy if staying long-term with stable income

NEW vs OLD TAX REGIME (FY 2024-25):
  New regime (default): lower rates, NO deductions (no 80C, 80D, HRA)
    0% up to 3L | 5% 3-7L | 10% 7-10L | 15% 10-12L | 20% 12-15L | 30% >15L
  Old regime: higher rates but allows all deductions
  Breakeven: if deductions >3.75 lakh → old regime beneficial
  Standard deduction: Rs.75,000 available in both regimes (salaried)

CAPITAL GAINS TAX (India):
  Equity (listed):
    STCG (<1 year): 15% → 20% (from July 2024)
    LTCG (>1 year): 10% → 12.5% (from July 2024) | Exempt up to Rs.1.25 lakh/year
  Debt funds: taxed as income slab (no indexation benefit from April 2023)
  Real estate: LTCG >2 years at 20% with indexation | STCG at income slab
  
ITAX FILING:
  ITR-1 (Sahaj): salaried with income <50 lakh, one house property
  ITR-2: capital gains, more than one property
  Deadline: July 31 (non-audit) | October 31 (audit)
  AIS (Annual Information Statement): cross-check all income and investments

ASSET ALLOCATION: 100-age = equity% | rebalance annually
PPF: 7.1% | EEE tax | 15yr lock | 1.5L/yr limit | safest long-term debt
EPF: 12%+12% | transfer UAN on job change | don't withdraw early
INDEX FUNDS: track Nifty/Sensex | 0.1-0.2% ER | beats most active funds over time
NEW TAX REGIME: default from FY24 | no deductions | better if deductions <3.75L
LTCG EQUITY: 12.5% | exempt 1.25L/yr | harvest gains annually below exemption