2021 FY year end checklist - Kuvera

Table of Contents

It does not do to leave a live dragon out of your calculations, if you live near one.

: J.R.R. Tolkien

It’s that time of the year when you should make sure your financial house is in order. If you are one of the few who do not procrastinate then well done. For the rest of us, here is a handy checklist to ensure you do not miss out on anything.

But first an ask, we are looking to hire amazing backend and DevOps professionals. You know the product and you know us well, so if you know people who can make your investing experience better, introduce them to us or ask them to write to me at gaurav.rastogi@kuvera.in or at jobs@kuvera.in ?

All year-end reports in one place

Capital Gains Report – Find the long term and short term Capital Gains report in our Reports section. Not sure if your capital gains calculations are right – import your portfolio and generate this report instantly to cross-check. For yourself and all your family accounts. Be doubly sure.

ELSS Report – ELSS Tax Saving Report tabulates all the ELSS investments you have done in this Financial Year.

Transaction Report – Download it by clicking the download icon on the top right of the Transactions tab.

Portfolio Snapshot Report – Click on the Excel or PDF icon to download your portfolio snapshot from the “Manage Funds” button in Portfolio

Tax Planning

Tax Saving ELSS Mutual Funds can help save up to Rs 46,350 in taxes. But first, use our handy calculator to find out if ELSS helps you under the tax regime or not. If you plan on investing in ELSS Tax Saving Mutual Funds, then don’t wait till the last day. We recommend making your ELSS investment by 27th March, 2:30 PM to account for realization based NAV allotment.

Tax Harvesting

Tax Harvesting is a technique that utilises the ₹1 Lakh annual LTCG exemption by selling and buying back part of your investment such that you “realise” gains and not pay taxes on them. At a 10% LTCG tax rate, you could save up to Rs 10,000 in LTCG taxes every year by doing this diligently. Like all our features, Tax Harvesting optimizes on your entire portfolio – bought on Kuvera or imported from elsewhere.

Upsize your SIP

Maybe you got a big raise, maybe you got a small raise. Just increase your SIP by the same amount. If you got a large bonus, then consider investing a portion of it towards your goals as well. Our analysis says lumpsum is better, but if you feel STP is more your style, then go for that.

Ponder 😉

Since you would be going through all your reports and stuff, this is a good time to think about what you did well last year and what you didn’t. Two easy questions to get this process started are “How did I deal with the ~30% drawdown in Mar 2020?” and “How did I deal with the ensuing rally till year-end?“

Happy investing,
Gaurav
CEO | kuvera.in | @rustapharian

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Feature Showcase: Tax Harvesting

Do not wait for February / March of FY21 to harvest taxes. Do it as early in the financial year as possible – as happened in FY20 you may not have gains later to harvest!

Like all our features, Tax Harvesting optimizes on your entire portfolio – bought on Kuvera or imported from elsewhere.

Start harvesting today.

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3 Responses Cancel reply

Basavaraj S Patil

April 3, 2021 AT 12:20

How did I deal with the ~30% drawdown in Mar 2020?” – Bumped up SIPs
and “How did I deal with the ensuing rally till year-end?“ – Continued SIPs

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Vaibhavratna b sonwane

April 17, 2021 AT 19:41

Gaurav ji u r articles on investment is really very good for me to understand what investing is really is and how to stay calm.i have read articles so many time.because every time I got new knowledge of investing.

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Seetharama Nadoor

October 17, 2021 AT 19:00

1. Some of the users may be NRIs – like one among family accounts – and so will benefit immensely if the reports are made available even on a calendar year basis. This will help to compute the foreign income of NRIs for tax-filing in the foreign country.
2. Even for Residents, if the report is available quarter-wise (report format can accommodate it easily) it will be useful for filing Taxes periodically as mandated by the IT dept during the year on capital income.

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