Nomination is important and you should ensure that you have nominated a person who will be entrusted with your funds in the case of your death. If you have not made any nomination, in the event of your death, it will be cumbersome for your legal heirs to take control of your investments. By having a nominee, the amount in your mutual investment gets transferred directly to the nominee in the event of your death and the process is fairly simple with nominee to prove his identity. You can change the nominee as many times as you wish to by filling up the nomination form and changing it from your mother to wife.
NHAI, PFC file prospectuses, coupon rate not yet decided MORE debt investment options have opened up for investors with AAA rated tax-free bonds worth over Rs 14,000 crore lined up. The National Highway Authority of India ( NHAI ) and Power Finance Corporation ( PFC ) are offering Rs 10,000 crore and Rs 4,033.13 crore worth of tax-free bonds, respectively, as per prospectuses filed with the Securities and Exchange Board of India (Sebi). Of a Rs 5,000 crore issue by PFC, Rs 966.87 crore has already been raised through private placement on September 28 and November 1. Tax-free bonds give investors tax-free return on any amount invested. In another kind of bonds, the long-term infrastructure bonds, investments up to Rs 20,000 are tax exempt, that is this cap amount can be deducted from the taxable income. Accordingly, the NHAI prospectus has clarified that only the amount of interest from -and not the actual investment on -its new bonds will be tax-free. "NHAI's publ...
