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Tuesday, August 21, 2018

Tata India Tax Savings Fund

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An eye for companies with quality management and potential to gain over time have been the hallmark of this fund

  • Resilient player: Tata India Tax Savings
     


A trait that sometimes goes against this fund is its erratic returns, which if one stays through the three year lock-in, pays off eventually. A mid-cap focused ELSS, with investments in growth oriented companies and an eye for companies with quality management and potential to gain over time have been the hallmark of this fund.

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One of the oldest tax planning funds, it has witnessed several ups and downs in the markets and changes its own management team to come out stronger. So, do not write this one off just because it manages a relatively meagre corpus. This small corpus in fact, offers the fund manager the freedom to move across market capitalisation to achieve returns. Where it definitely scores over several of its peers, is in its ability to check on the losses when the markets tank, a trait that augurs well for conservative investors. Invest in this fund to stay through the cycle and longer to gain the most.

 

Launch Date: March 31, 1996
Fund Manager: Rupesh Patel
Benchmark: S&P BSE Sensex Index
Expense ratio: 2.53



SIPs are Best Investments as Stock Market s are move up and down. Volatile is your best friend in making Money and creating enormous Wealth, If you have patience and long term Investing orientation. Invest in Best SIP Mutual Funds and get good returns over a period of time. Know which are the Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds

For more information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

New EPF withdrawal Rules

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EPFO subscribers will get the option to withdraw 75% of accumulated provident fund or PF corpus after just one month of unemployment


In a significant decision, the retirement fund body Employees Provident Fund Organization (EPFO) on Tuesday gave more flexibility to subscribers for withdrawing their employee provident fund (EPF) kitty. EPFO subscribers will now be given the option to partially withdraw from EPF kitty after one month of unemployment or leaving the job. The EPF account holder can also keep its account active with the EPFO. The latest move will benefit about 5.5 crore subscribers. EPFO manages a corpus of over Rs 10.5 trillion.

Here are five things to know about the new provident fund (PF) withdrawal rules:

1) Currently, an EPFO subscriber can withdraw the accumulated funds in EPF kitty after two months of unemployment and settle the account in one go.

2) Under the new EPF withdrawal rules, EPFO subscribers will be given the option to withdraw 75% of accumulated corpus after one month of unemployment and at the same time keep the account active.

3) Also under the new rules, EPFO subscribers will have the option to withdraw the remaining 25% of their funds and go for final settlement of account after completion of two months of unemployment.

4) "We have decided to amend the scheme to allow members to take advance from its account on one month of unemployment. He can withdraw 75 per cent of its funds as advance from its account after one month of unemployment and keep its account with the EPFO," said Labour Minister Santosh Kumar Gangwar, who is also the Chairman of EPFO's Central Board of Trustees. Central Board of Trustees is the apex decision-making body of the EPFO.

5) The new rules would give an option to subscribers to keep their account with the EPFO, which they can use after regaining employment again. "We are trying to give subscribers a window to take out a sizable portion of the corpus, yet not close the account. When he gets a new job, he can transfer the old account money to the new account with the new employer," said central PF commissioner V.P. Joy.

Currently, an EPFO subscriber needs to contribute to his EPF account consecutively for at least 10 years to become eligible for pension. However, if a person closes his or her EPF account two months after losing a job, it may affect the person's pension eligibility.

In another development, the central board of EPFO has also sought the approval of the finance ministry before deciding on diversifying its equity portfolio beyond the Nifty 50 and Sensex 30 stocks. The EPFO had started investing in ETFs in 2015 with a mandate of investing 5% of its investible deposits in the equity-linked schemes. The proportion was increased to 10% in 2016-17 and 15% subsequently in 2017-18.



SIPs are Best Investments as Stock Market s are move up and down. Volatile is your best friend in making Money and creating enormous Wealth, If you have patience and long term Investing orientation. Invest in Best SIP Mutual Funds and get good returns over a period of time. Know which are the Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds

For more information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

How to revise income tax return (ITR)

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You have filed your income tax return or ITR for assessment year 2018-19. Now, you realize that you have made a mistake while filing the return. Don't lose heart, the income tax department provides you an option to file a revised return. The revised return replaces the original return and is deemed to have been filed on the same date on which the original return was filed, say tax experts. A revised income tax return can be filled at any time before the expiry of the relevant assessment year or before completion of the assessment, whichever is earlier


The last date to file the revised return with respect to assessment year 2018-19 is March 31, 2019. But there is a catch. The option to file the revised return is not available if the reason is other than omission or wrong statement

How to file a revised ITR
The process of filing a revised ITR is the same as filing an original return. Visit the e-filing website of Income Tax Department and then log in with your credentials. In Part A - General Information, the taxpayer has to choose 'Revised Return under Section 139(5)' from the drop-down box and in the in the same tab, provide information to identify the original return which shall be 'Order Acknowledgment Number' and 'Date of filing of Original Return'.








How many times you can file a revised ITR
Assessees can revise a return every time they discover any omission or wrong statement within the time limit prescribed for filing a revised return. However, one should take utmost care while filing a revised return so as to avoid complications in future and should not misuse the facility

5 key things to remember about filing a revised ITR
 1. When the assessee files a revised return, the original return stands withdrawn and is substituted by the revised return

2. The last date for filing a revised return is end of the relevant assessment year. For financial year 2017-18, the revised return can be filed up to March 31, 2019.

3. "File the revised return only to rectify genuine omissions or wrong statements. If any income was intentionally not disclosed in the return and an assessee chooses to file a revised return after receipt of a show-cause notice, the assessing officer may ignore the revised return and initiate a scrutiny

4. It is mandatory to mention the date of filing and acknowledgement number of the original return filed

5. Do not forget to verify the revised return.





SIPs are Best Investments as Stock Market s are move up and down. Volatile is your best friend in making Money and creating enormous Wealth, If you have patience and long term Investing orientation. Invest in Best SIP Mutual Funds and get good returns over a period of time. Know which are the Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds

For more information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

Monday, August 20, 2018

LTCG Tax on Partial Withdrawals from MFs

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The method to be used while ascertaining capital gains when the investment is made over a period of time

The principle being followed is First-in-First-out (FIFO). If you have invested over a period of time, your oldest units are redeemed first. The difference between the date of purchase and date of redemption of those units is calculated. If it is more than 365 days, it will be considered as long-term capital gains. If it is 365 days or less, they are considered as short-term capital gains.

SIPs are Best Investments when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds

For more information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

Television Insurance Policy

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This protects coverage for loss or damage of your TV from threats and damages, inclusive of accidental damage

  • What does the television insurance policy cover?

What does the television insurance policy cover?


The rising cost of television sets has also resulted in innovative ways to increase the life and value of the TV set. The huge cost has resulted in people seeking extended warranty and protecting their sets more than before. Insurance companies have come up with the innovative service of offering TV insurance. This protects coverage for loss/damage of your TV from threats and damages, inclusive of accidental damage.

The 'television insurance' policy covers damage to or loss of the TV set due to fire, lightning, accidental external means, short circuit, hurricanes, floods, bursting and overflowing of water tank, theft, riot, strike, earthquake etc. For instance, if any particular fitting of TV gets damaged, such as the picture tube or speakers, a TV insurance policy will help with its replacement without making you invest in buying a new TV. However, like every other insurance policy, this one too has exclusions such as loss, depreciation, wear and tear, and failure or breakage or damage due to normal atmospheric conditions. Loss or damage from setting up, repairing or dismantling the TV is not covered either.




SIPs are Best Investments as Stock Market s are move up and down. Volatile is your best friend in making Money and creating enormous Wealth, If you have patience and long term Investing orientation. Invest in Best SIP Mutual Funds and get good returns over a period of time. Know which are the Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds

For more information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

Sunday, August 19, 2018

DSP BlackRock Tax Saver

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DSP BlackRock Tax Saver fund scores on its performance with the multi-cap approach it takes to build its portfolio

  • Solid performer: DSP BlackRock Tax Saver

DSP BlackRock Tax Saver fund has been a consistent performer over several years in the ELSS category and in some years, its performance could put several diversified funds' performance to shame. The fund manager follows a relatively conservative approach, despite relative lower redemption pressures owing to the automatic lock-in when investing in this fund. This fund scores on its performance with the multi-cap approach it takes to build its portfolio. Only stocks of high quality companies find way into the portfolio, which is also well diversified.

DSP BlackRock Tax Saver fund's margin of outperformance compared to its benchmark is commendable, especially in years when the markets did not have anything spectacular to show. Such quality track-record proves the ability of this fund to do well across both bull and bear phase of the market and suitable for anyone looking for a tax saving investment option. These positive traits have resulted in increased inflows into the fund over time.

 

 

Launch Date: December 26, 2006
Fund Manager: Rohit Singhania
Benchmark: Nifty 500 Index



SIPs are Best Investments as Stock Market s are move up and down. Volatile is your best friend in making Money and creating enormous Wealth, If you have patience and long term Investing orientation. Invest in Best SIP Mutual Funds and get good returns over a period of time. Know which are the Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds

For more information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

ULIPs or Equity MFs

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It is a differential advantage of ULIPs that it will not be liable to long-term capital gains tax like an equity fund. But that doesn't make ULIPs attractive. Mutual funds have too many good things going for them. Mutual funds are transparent, they are liquid, they are low on cost and also you can move your money around if the investment is not doing well. Your liquidity on ULIPs is low, the surrender charges and other things could be very different. The cost claim of ULIP is low but most customers of ULIP don't feel that and there is opaqueness.


That apart, when you mix insurance and investment, you don't get finest of both. Your need for insurance changes dramatically which ULIPs can't fulfill. There may be some ULIPs that would be more advantageous and that may be proven over time. But insurance is very important and ULIPs can't really fulfill the need to actually have a meaningful insurance. Don't mix both.



SIPs are Best Investments as Stock Market s are move up and down. Volatile is your best friend in making Money and creating enormous Wealth, If you have patience and long term Investing orientation. Invest in Best SIP Mutual Funds and get good returns over a period of time. Know which are the Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds

For more information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

Saturday, August 18, 2018

SWP are Tax Efficient for Regular Income from Mutual Funds

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Over the past few years, many investors have opted for dividend plans of equity-oriented balanced funds, for regular cash flows, as they rendered tax-free income. Many equity-oriented balanced funds have a history of paying fixed monthly dividend regularly giving investors an informal assurance of regular income. Also, the annualised returns of these plans are generally between 8 percent and 12 percent p.a. The popularity of these schemes may wane as Budget 2018 has announced a 10 percent dividend distribution tax (DDT) to ensure there is parity between dividend and growth schemes, where taxation is concerned.

Dividend distribution tax on equity mutual funds

The main distinction between capital gains tax and DDT is that DDT is paid by the fund house and not by investors, whereas capital gains tax is paid by the investor. Dividends received from all mutual funds remain tax-free in the hands of the investors. However, investors would be impacted as the AMC pays the tax out of the declared dividends and it will reduce the in-hand return to the investor. The Budget has introduced a 10 percent DDT on equity-oriented mutual funds. This 10 percent will be deducted from the dividend announced and then dividend will be paid to the investor. If you include the surcharge and cess, the effective rate of dividend tax is 11.65 percent.

Effect of dividend distribution tax (DDT)

Earlier, in the absence of DDT, an investor would receive the entire amount of dividend declared. Hence, there was no difference between the amount of dividend declared and the amount of dividend actually received by the investors. Now, with the introduction of DDT, the dividend received by the investors will be reduced to the extent of 11.65 percent. The fund house will deduct the tax amount from the dividend declared and the net dividend will be received by the investors.

To understand DDT in a better way, let us consider an actual example:

A balanced fund declared a dividend of Rs. 0.12 per unit with a record date of April 23, 2018. In the absence of DDT, the investor would receive the entire amount of Rs. 0.12 as dividend. Now, with the introduction of DDT, the investor received only Rs. 0.1062 per unit (Rs. 0.0138 deducted as dividend).

Alternative of Dividend Option - Systematic Withdrawal Plan (SWP)

The SWP route now becomes more relevant for fetching regular income from equity funds. Investors will be able to optimize their tax on long-term capital gains accrued on the amount withdrawn under as a SWP (provided it remains below the Rs 1 lakh threshold).

For example:
Amount Invested: Rs 25 lakh
Withdrawal: 12% per annum
Amount received per month: Rs 25,000
Amount received per annum: Rs 3 lakh

Exemption on profit per annum: Rs 1 lakh

Considering, the rate of return of 12 percent p.a., an investor would be liable to pay a nominal tax of 2 percent of the amount withdrawn in the first year as short-term capital gains tax. Long-Term Capital Gains tax liability will arise somewhere in the 4th-5th year as at that time the profit amount would be more than Rs 1 lakh. Here, the liability will be approx. 1 percent of the amount withdrawn. The investor will be liable to pay tax only on gains over and above Rs 1 lakh.

Post LTCG tax and DDT, both the options give almost the same returns. However, leaving the returns criteria aside, SWP is still a better alternative to dividend plans on the following parameters.

swp




SIPs are Best Investments as Stock Market s are move up and down. Volatile is your best friend in making Money and creating enormous Wealth, If you have patience and long term Investing orientation. Invest in Best SIP Mutual Funds and get good returns over a period of time. Know which are the Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds

For more information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

IDFC Tax Advantage

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The portfolio of the fund has over 60 stocks, which further brings in the much needed diversification

  • Strong growth: IDFC Tax Advantage

IDFC Tax Advantage fund started on the wrong foot in 2008, but it has since then earned its stripes among other tax planning funds with its consistent performance. A relatively small corpus allows the fund manager to allocate a higher proportion to mid and small-cap stocks, which have added to its returns in recent years. A very actively managed fund, the portfolio of the fund has over 60 stocks, which further brings in the much needed diversification.

The fund manager follows a growth-at-a-reasonable-price approach to stock selection by identifying companies based on their growth potential and future prospects. The only flipside of investing in this fund is the fact that it is yet to face a beat phase of the market, but in years like 2011 and 2013, it did manage to fare well despite any significant moves in the markets. This is a slightly risky fund among the ELSS category to invest in, but worth every bit if you are looking for more than usual returns.

 

Launch Date: December 17, 2008
Fund Manager: Daylynn Gerard Paul Pinto
Benchmark: S&P BSE 200 Index


SIPs are Best Investments as Stock Market s are move up and down. Volatile is your best friend in making Money and creating enormous Wealth, If you have patience and long term Investing orientation. Invest in Best SIP Mutual Funds and get good returns over a period of time. Know which are the Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds

For more information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

How to Invest in 30s

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Hoarding money in your bank accounts will not generate the kind of returns you will earn by investing in other instruments such as FDs, bonds, stocks, mutual funds, etc.


Investing is important for those who want to lead a stress-free future. Once you start investing, it is important to imbibe financial discipline, stay invested for longer period of time, monitor the progress, evaluate the returns and make financial decisions accordingly.


The importance of investing increases when a person enters 30s as responsibilities are bound to increase henceforth. But, even income increases, giving the power to save and invest more.


Here are few options where people in 30s can start investing for a stress-free future:

1. Capital markets: Want to invest in the stock market but haven't got around to it? Just do it already. The only way most people have any hope of creating real wealth is by investing in stocks and mutual funds. The benchmark NIFTY index has returned approximately 28% in January 31, 2018; the traditional saving rates were at a decadal low of around 7%.

2. Mutual Fund Investing: One of the lucrative investment options in Mutual Fund investing. These funds purchase all the stocks in the same proportion in a particular index. They incur lower expenses and work well when markets are efficient. A good Mutual Fund should form a part of your investment. NIFTY50 Fund is getting popular and has emerged as an easier way to invest in index. Diversification is the key.

3. PPF: Public Provident Fund is said to be the safest investment option. It is risk free, the interest earned is tax-free and the minimum annual investment amount is Rs 500. The lock-in period is 15 years and you can earn compound interest from this account.

4. Real estate: Investing in real estate is an age-old practice. People invest in real estate as they invest in gold. Real estate is always considered as an asset class and it is advisable to stay invested for a longer period of time for larger gains. Although the government has made investing in real estate easier, it is still considered to be a cumbersome process.

SIPs are Best Investments when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds

For more information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

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