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How to get started on next year Income Tax Planning ?

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India) Check and review last year's return. This is to ensure you won't miss out on any deductions and credits in the current year. Get organized by setting up a simple file system, and separating your information by type, income, deductions, credits and so on. Keep track of all your expenses and retain receipts even though you don't necessarily have to submit them with your return. Keep more of your year-end pay cheques by equitably distributing the deductions across the 12 months. Make your tax payments on time if you are self-employed and required to pay tax instalments during the year. This way you'll also avoid interest and penalties.   Perform a check-up on your financial health by reviewing your overall financial plan. It's easier to measure your r

Insurance Plans to Save Tax - Do not Rush to Invest

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   Investments should be made only after evaluating the return on investment scenario, including potential tax gains You hardly have two weeks to finalise your tax saving plan before the deadline on March 31. If financial advisors are to be believed, many individuals think of tax planning only in the last two weeks of the month of March. They also quickly add that these individuals often fall for unscrupulous tactics of their insurance agents or personal bankers. It is only much later that they realise the folly of buying wrong products. Many people look at such investments merely as tax-saving tools. Also, as they have very little time to evaluate the product features, they are bound to make mistakes. The right approach is to make investments that are suitable for you, after you evaluate t

Sell Mutual funds that do not perform well

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)    More than 6,000 crore of investors' wealth is in 10 underperforming Mutual funds Vaibhav Sharma is hoping that the mutual fund he invested in, in July 2007, will turn around some day and he will be able to recoup his money. The NAV of the SBI Infrastructure Fund (originally SBI Infrastructure Series 1) has never risen above its NFO price of 10 ever since it became open-ended in July 2010. He is not the only one waiting for a miracle. Millions of people, who invested in the SBI Infrastructure Fund and other underperforming schemes, are making the same mistake. Even though these funds have underperformed their benchmark indices and their respective categories in the past 3-5 years, investors continue to cling on to these in the hope of better days ahead. More than 6,000 crore of investors' w

Stocks Buying low & sell high a tough call

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)     If past history was all there was to the game, the richest people would be librarians –Warren Buffett I had once heard that the reason they make huge windshields and small rear view mirrors in cars is to indicate where the driver should be looking most of the time — right ahead. The same is majorly applicable to investing. Unfortunately, in general, investors end up doing precisely the opposite. So if a friend of mine has recently shared with me how he made money in gold and real estate, then that would weigh on my mind and I would feel like having missed the bus. At the same time if the last news article I read was about how the global economy is in a poor shape and India too has not been spared, with GDP growth at a decade low of sub 5%, it is very unlikely that I would invest
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