Skip to main content

Unsecured Dropline Overdraft

 

Unsecured Dropline Overdraft

Dropline overdraft is a facility granted to you where you can overdraw your current account up to an agreed limit. Overdraft is an efficient form of borrowing as you pay interest only for the time you use the money. It gives you flexibility. You can at any time deposit money into the account to reduce the outstanding balance or can draw out money whenever you need it as long as you do not exceed the limit. Interest is calculated daily on the fluctuating outstanding balance and is normally charged at the end of each month. The overdraft utilized determines the interest that will be payable by the customer. Overdraft against Property is a flexible product offering that allows you a combination of a Term Loan and Overdraft facility against residential or commercial property. This product is useful for professionals, Sole Proprietors, Proprietorship Firms, Partnership Firms or a Private Limited Company with an annual turnover in the range of INR 90 lakh

Who Can Apply

Self Employed (Private Ltd. Co. and Partnership Firms)

Self Employed (Individuals)

Self Employed (Private Ltd. Co. and Partnership Firms) include private companies and partnership firms in the business of manufacturing, trading or services

With:

Minimum turnover of Rs. 60 lakh, financial should be audited.

Years in business: Minimum of 3 years in current business and 5 years total business experience

Business must be profit making for the last 2 years.

Minimum Annual Income (ITR): Rs. 1.5 lakh p.a.

Documents required:

PAN Card

Address proof (ration card, telephone/ electricity bill/ lease agreement/ passport/trade license /sales tax certificate)

Bank statement (latest of 6 months)

Last 2 years ITRs (computation of income) balance sheet and profit & loss a/c. and Financial should be audited.

Proof of continuation (ITR/ Trade license /Establishment /Sales Tax certificate)

Self Employed (Individuals) include Sole proprietors, Partners & Directors.

With:

Minimum age of applicant: 21 years

Maximum age of applicant at loan maturity: 65 years

Minimum turnover of Rs. 60 lakh, financial should be audited.

Years in business: Minimum of 3 years in current business and 5 years total business experience

Minimum Annual Income (ITR): Rs. 1.5 lakhs p.a.

Documents required:

Proof of identity (Passport / Voters ID card/ Driving License/PAN Card)

Address proof (Ration card tel/elect. Bill/ Lease agreement/ Passport/ Trade license /Sales Tax certificate)

Bank statement (latest of 6 months)

Latest ITR along with computation of income, balance sheet and profit & loss a/c for the last 2 years and Financial should be audited.

Proof of continuation (ITR/Trade license /Establishment /Sales Tax certificate)

 

Other mandatory documents (Sole Prop. Declaration or Certified Copy of Partnership Deed, certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (original)

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

Popular posts from this blog

Am you Required to E-file Tax Return?

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Am I Required to 'E-file' My Return? Yes, under the law you are required to e-file your return if your income for the year is Rs. 500,000 or more. Even if you are not required to e-file your return, it is advisable to do so for the following benefits: i) E-filing is environment friendly. ii) E-filing ensures certain validations before the return is filed. Therefore, e-returns are more accurate than the paper returns. iii) E-returns are processed faster than the paper returns. iv) E-filing can be done from the comfort of home/office and you do not have to stand in queue to e-file. v) E-returns can be accessed anytime from the tax department's e-filing portal. For further information contact Prajna Capit...
Read more

IDFC - Long term infrastructure bonds - Tranche 2

IDFC - Long term infrastructure bonds What are infrastructure bonds? In 2010, the government introduced a new section 80CCF under the Income Tax Act, 1961 (" Income Tax Act ") to provide for income tax deductions for subscription to long-term infrastructure bonds and pursuant to that the Central Board of Direct Taxes passed Notification No. 48/2010/F.No.149/84/2010-SO(TPL) dated July 9, 2010. These long term infrastructure bonds offer an additional window of tax deduction of investments up to Rs. 20,000 for the financial year 2010-11. This deduction is over and above the Rs 1 lakh deduction available under sections 80C, 80CCC and 80CCD read with section 80CCE of the Income Tax Act. Infrastructure bonds help in intermediating the retail investor's savings into infrastructure sector directly. Long term infrastructure Bonds by IDFC IDFC issued an earlier tranche of these long term infrastructure bonds on November 12, 2010. This is the second public issue of long-te...
Read more

ULIP Review: ProGrowth Super II

  If you are interested in a death cover that's just big enough, HDFC SL ProGrowth Super II is something worth a try. The beauty is it has something for everybody — you name the risk profile, the category is right up there. But do a SWOT analysis of the basket, and the gloss fades     HDFC SL ProGrowth Super II is a type-II unit-linked insurance plan ( ULIP ). Launched in September 2010, this is a small ticket-size scheme with multiple rider options and adequate death cover. It offers five investment options (funds) — one in each category of large-cap equity, mid-cap equity, balanced, debt and money market fund. COST STRUCTURE: ProGrowth Super II is reasonably priced, with the premium allocation charge lower than most others in the category. However, the scheme's mortality charge is almost 60% that of LIC mortality table for those investing early in life. This charge reduces with age. BENEFITS: Investors can choose a sum assured between 10-40 times the annualised premium...
Read more

Filing the Tax Return For Salaried Individuals 2014

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Filing the Tax Return For Salaried Individuals 2014 July 31: Due Date for Filing the Tax Return For Salaried Individuals Note that you can file income tax return even after the due date. Such returns are called belated returns. However, there are some disadvantages of filing a belated income tax return: You cannot carry forward the losses incurred during the head under 'Capital Gains' or 'Profits and Gains of Business or Profession' You cannot revise such return later You may have to pay interest under section 234A @ 1% per month (or part thereof) of delay in filing the return. Such penal interest is computed on the amount of income tax due as on the first day of the assessment year. Therefore, if you did not...
Read more

Section 80CCD

Top SIP Funds Online   Income tax deduction under section 80CCD Under Income Tax, TaxPayers have the benefit of claiming several deductions. Out of the deduction avenues, Section 80CCD provides t axpayer deductions against investments made in specific sector s. Under Section 80CCD, an assessee is eligible to claim deductions against the contributions made to the National Pension Scheme or Atal Pension Yojana. Contributions made by an employer to National Pension Scheme are also eligible for deductions under the provisions of Section 80 CCD. In this article, we will take a look at the primary features of this section, the terms and conditions for claiming deductions, the eligibility to claim such deductions, and some of the commonly asked questions in this regard. There are two parts of Section 80CCD. Subsection 1 of this section refers to tax deductions for all assesses who are central government or state government employees, or self-employed or employed by any other employers. In...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now