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Showing posts from April, 2012

Franklin Templeton Mutual Fund

Tax Saving Mutual Funds Online Current open Infra Bond Application form   Franklin Templeton is a widely talked-about Mutual Fund in India with offices in 33 locations across the country and having assets worth exceeding Rs. 35000 crores and over 23 lakh investors. Franklin Templeton Mutual Funds are managed by Franklin Templeton Investments - a global investment management major. Franklin Templeton Asset Management (India) Private Limited acts as the asset management company with Templeton holding a majority of 75 per cent of the equity. Since inception in India, Franklin Templeton has devoted ample resources towards investor education and has strived incessantly to achieve optimum gains for both its individual and organizational investors. ------------------------------------------- Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C. Invest Tax Saving Mutual Funds Online Tax

Tax Savings under Section 80C

Invest in Mutual Funds Online Download Mutual Fund Application Forms   1.       What is a tax deduction? A tax deduction is simply an item that helps you reduce your taxable income by the amount of the deduction. So by utilizing that particular deduction, you can reduce the amount of income tax by reducing the amount of your taxable income. For example: If you have a taxable income of Rs. 2,50,000 for the financial year, and you invest Rs. 70,000 in PPF and Rs. 30,000 in Equity Linked Savings Schemes, then your taxable income is: Gross Taxable Income: Rs. 2,50,000 Deductions: PPF: Rs. 70,000 ELSS : Rs. 30,000 Total Deductions: Rs. 1,00,000 Net Taxable Income: Rs. 1,50,000 2.       How can I save tax using different tax deductions? There are different tax deductions available to an individual under different Sections of the IT Act. Section 80C for example has a deduction limit of Rs. 1 lakh per annum. You can save tax by making use
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