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Showing posts from February, 2012

Income Tax Slab 2012 for Senior Citizen

  Tax Saving Mutual Funds Online Current open Infra Bond Application form       Slab 1 Upto Rs 1.6 Lacs Tax Rate NIL for Men; Upto Rs 1.9 Lacs Tax Rate NIL for Women; Upto Rs 2.4 Lacs Tax Rate NIL for Senior Citizen; Slab 2 Rs 1.6 Lacs to Rs 5 Lacs Tax Rate 10% Slab 3 Rs 5 Lacs to Rs 8 Lacs Tax Rate 20% Slab 4 Rs 8 Lacs onwards Tax Rate 30%   --------------------------------------------- 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 Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)   Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications   These Application Forms can be used for buying regular mutual funds also   Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds ) HDFC TaxSaver ICICI

How to make money in volatile stock market ?

Tax Saving Mutual Funds Online Current open Infra Bond Application form   The stock markets have been volatile since the last few months mainly due to the uncertainty in the developed markets, especially in the Euro region and concern on domestic growth rate. The inflation rate remains high even after many rounds of monetary policy tightening by the Reserve Bank of India ( RBI ). Investors have been left wondering what strategy to adopt and how to tackle the volatility. A volatile market provides good opportunities to create wealth. Let us look at how one should go about for this and what should be his or her strategy. Don't panic It is important not to value your investment on a daily basis or at a very short interval. The market prices of investments are bound to go up and down in the very short- term and in short-term too but patience is always rewarded in the medium- to long-term. Be realistic, and exit It is important to have realistic expectations while investin

CPs, CDs may get to trade on bourses

Tax Saving Mutual Funds Online Current open Infra Bond Application form   The Securities and Exchange Board of India ( Sebi ) is planning to allow certificates of deposit (CDs) and commercial paper ( CP ) with residual maturities of 60 days or less on the exchange platform. This step is seen as a precursor to the mark to market (MTM, revaluing assets at current worth) requirements for mutual funds ( MFs ), to be implemented from Day 1. Last week, Sebi brought down the threshold for MTM of debt securities by MFs to 60 days from 91 days. Sebi wants to take it to Day 1. At present, it is difficult to draw yield curve maturities below 60 days. In the normal course, the short-term yield curve has to be upward sloping. But, since prices are not transparent, we have a flat yield curve. A CD is a time deposit with a bank. CDs are generally issued by commercial banks and can be bought through brokerages. They bear a specific maturity date, a specified interest rate and can be issued

Make tax saving part of your overall financial plan

Tax Saving Mutual Funds Online Current open Infra Bond Application form     IT IS January, and most companies would have asked their employees to submit their tax-saving proofs immediately. One of the common mistakes most tax savers make is they buy a product that helps them save tax without being sure what they can expect out of that product. For them, saving tax as a goal becomes more important than the potential benefits or returns the investment could provide. Subsequently, tax savers who have not been able to make their investment in a tax-sensitive and investment-friendly manner will want to sell or close their investments as soon as possible. This would not provide the desired expectation out of the investment. It is, therefore, important to include tax saving as a part of the overall financial plan. While taxes are inevitable, a smart tax plan will reduce the impact of tax on the income. When planning for investment in tax-saving products, one must consider the need,

UTI Mutual Fund New Fund - UTI Fixed Term Series XI – II

  UTI Mutual Fund has announced the launch of new fund offer (NFO) of UTI Fixed Term Series XI - II (400Days). The NFO will be open for subscription only on February 27, 2012.   The maturity date will be April 2, 2013.   --------------------------------------------- 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 Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)   Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications   These Application Forms can be used for buying regular mutual funds also   Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds ) HDFC TaxSaver ICICI Prudential Tax Plan DSP BlackRock Tax Saver Fund Birla Sun Life Tax Relief '96 Reliance Tax Saver (ELSS) Fund IDFC Tax Advantage (EL

REC Bond Update

Tax Saving Mutual Funds Online Current open Infra Bond Application form   The Union government has reduced the cap on subscription by retail investors in the ~3,000-crore tax-free bond issue of Rural Electrification Corp ( REC ) to ~1 lakh, from ~5 lakh that was allowed for previous such issues. A notification dated February 14 issued by Central Board of Direct Taxes ( CBDT ) clearing the issue has said that "any individual investing over ~1 lakh will be classified as high net worth individual ( HNIs )". All previous tax-free bond issues from National Highways Authority of India (NHAI), Power Finance Corp, Housing and Urban Development Corp, and Indian Railway Finance Corp allowed retail investors to invest up to ~5 lakh. Some investors feel the move will unduly help HNIs and institutions garner a better share of the issue. Arun Kejriwal, director, Kejriwal Research and Investment Services said, "The unsubscribed retail portion, which is going to be significa

Hallmarking jewellery and Its effect

Tax Saving Mutual Funds Online Current open Infra Bond Application form   According to the Bureau of Indian Standards ( BIS ), hallmarking is the accurate determination and official recording of the proportionate content of precious metal (gold or silver) in articles. It ensures 92 per cent purity of gold ornaments. Hallmarks are, thus, official marks used in many countries as a guarantee of purity or fineness of precious metal articles. Jewellery hallmarking provides a third-party assurance — that a buyer is getting the right purity of gold or silver jewellery for the given price. Many buyers get their jewellery re-checked by a third party — BIS — to confirm the purity of the piece. Now, the hallmark will be a certification for such individuals." Many jewellers like Gitanjali Gems, Tanishq and Waman Hari Pethe already provide hallmarked jewellery. In 2007, hallmarking was made mandatory in four metro cities. "Last time," says Mehul Choksi, CMD of Gitanjali Gems,

Know your real need before buying Insurance

Tax Saving Mutual Funds Online Current open Infra Bond Application form   Usually people buy insurance without a real understating of why they do so. In my financial planning practice, when I ask people the reason for buying multiple life insurance policies before they approach me, some common answers received are, that it was recommended by a colleague, they learnt about it through a TV commercial as best tax-saving instrument or bought it under obligation from friend or relative. Study confirms that life insurance policies bought just for tax planning and without keeping any financial goal in mind are surrendered before its due maturity. Basic objective of insurance is to manage financial risk. Different kind of risks can be personal risks like premature death, poor health and old age without having sufficient income or property and liability risk. There are various forms of insurance to manage these risks, and the objective of all is to protect people against unexpected loss.

Section 80 DDB for Treatment of Specified diseases

Tax Saving Mutual Funds Online Current open Infra Bond Application form   Costs incurred for treatment of specified illnesses, could fetch you a tax benefit under section 80DDB. Available Deduction - For individual assesses less than 65 years of age, a deduction limit of Rs. 40,000 is applicable. For a senior citizen, the limit is Rs. 60,000. Scope of Deduction - Deduction is applicable for treatment of self, spouse, children, siblings, and parents, wholly dependent on you. Diseases covered a) Neurological Diseases (where the disability level has been certified as 40% or more). b) Parkinson's Disease c) Malignant Cancers d) Acquired Immune Deficiency Syndrome (AIDS) e) Chronic Renal failure f) Hemophilia g) Thalassaemia   Key Factors If you are already receiving any reimbursement for the treatment from your insurance company or employer, deductions cannot be claimed. If you are receiving partial reimbursement, the balance amount can be used for a deduction.
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