Money guides

Direct answers to the questions people actually type, worked on real numbers with FY 2025-26 rules. Every figure comes from the same engine the app uses.

Educational information, not investment advice · Muktify is not SEBI-registered

• Can I claim HRA if I pay rent to my parents?

  Yes — paying rent to your parents qualifies for HRA exemption if they own the home, the rent is genuinely paid, and they declare it. The rules, the proof you need, and the exemption maths.

• Old vs new tax regime — which is better for me?

  The new regime wins unless your deductions are large. See the break-even point on your own salary, worked with FY 2025-26 slabs, and compare both regimes in seconds.

• How much tax do I pay on a ₹15 lakh salary?

  On ₹15 lakh gross you pay ₹97,500 under the new regime in FY 2025-26, or ₹2,57,400 under the old regime with no deductions. Full slab-by-slab working, both regimes.

• Should I prepay my home loan or invest the money?

  Compare the after-tax cost of your home loan against the return you assume, and see the interest a prepayment actually saves. Neutral maths on your own numbers — not advice.

• Advance tax due dates and penalty — what happens if I miss one?

  Advance tax is due on 15 June, 15 September, 15 December and 15 March, at 15%, 45%, 75% and 100% cumulatively. Miss one and interest runs at 1% a month under Sections 234B and 234C.

• How much emergency fund do I need in India?

  Six months of expenses is the usual starting point — but the right number depends on your job stability, dependants and health cover. Work out your own target in under a minute.