Prajna Capital - An Investment Guide

Buy Gold Mutual Funds Invest Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Call 0 94 8300 8300 (India) For most Generation Y professionals, tax is something they would rather not be involved with. These bright youngsters can tackle the toughest corporate challenge but fumble when it comes to their own tax planning. It needn't be like that. Tax planning may appear complicated but once you get the hang of it, it can be empowering and rewarding. Just spend a little time to understand what it is all about and the knowledge will benefit you for the rest of your life. Here are some basics of tax planning. Do you have to pay tax? That depends on how much you earn and under what heads. Some salary components such as the basic salary, dearness allowance, special allowance and bonuses are taxable. Others such as house rent allowance, conveyance and other reimbursements are exempt subject to rules. But ap

Buy Gold Mutual Funds Invest Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Call 0 94 8300 8300 (India) Salaried employees earning up to Rs 5 lakh a year need nod file income tax returns from this year   S alaried employees earning up to Rs 5 lakh a year need nod file income tax returns from this year, the Finance Ministry said.   The exemption from filing I-T returns is applicable only if "the total income of the employee does not exceed Rs 5 lakh... (and) the annual interest earned from savings bank account is less than Rs 10,000" for assessment year 2012-13.   Filing I-T returns is, however, necessary to claim refunds.   The last date for filing tax returns is July 31.   There are about 85 lakh salaried persons in the country whose yearly income, including earnings from other sources like bank deposits, does not exceed Rs 5 la

Buy Gold Mutual Funds Invest Mutual Funds Online Download Mutual Fund Application Forms Call 0 94 8300 8300 (India)   If you own certain assets worth more than 30 lakh, you are liable to pay wealth tax and file your return by July 31 The din generated by income tax returns tends to push the other taxes into the background. The wealth tax is the neglected child of the direct taxes family. However, remember that ignoring wealth tax can lead to serious problems for a taxpayer, with the penalty ranging from 100% to 500% of the unpaid tax. In extreme cases of willful default, a taxpayer may be punished with imprisonment ranging from six months to seven years. Wealth tax raked in only 787 crore for the exchequer in 2011-12, which was a piffling 0.16% of the total direct tax kitty of 4,93,912 crore. The securities transaction tax brings in seven times as much revenue as the wealth tax. This laxity on th

Buy Gold Mutual Funds Invest Mutual Funds Online Download Mutual Fund Application Forms Call 0 94 8300 8300 (India)   If you own certain assets worth more than 30 lakh, you are liable to pay wealth tax and file your return by July 31 The din generated by income tax returns tends to push the other taxes into the background. The wealth tax is the neglected child of the direct taxes family. However, remember that ignoring wealth tax can lead to serious problems for a taxpayer, with the penalty ranging from 100% to 500% of the unpaid tax. In extreme cases of willful default, a taxpayer may be punished with imprisonment ranging from six months to seven years. Wealth tax raked in only 787 crore for the exchequer in 2011-12, which was a piffling 0.16% of the total direct tax kitty of 4,93,912 crore. The securities transaction tax brings in seven times as much revenue as the wealth tax. This laxity on the part o

I get about 7% on my savings money. Yes, please read again – I get about 7% on my savings money. And we all know that our basic savings bank account provides only 3.5%. So, how have I doubled my return on basic savings?   I have been a strong advocate of getting your money to beat inflation. When all things around you become dearer (costlier) and your money doesn't keep pace with this increase in cost, you are not only doing disservice to your future but also punishing yourself for all the effort you have put in the past to generate this income. The closer you are to overcoming the effects of inflation, the better you are at making your money sweat it out for you. We have all been wisely advised to keep at least a few months of our salary in our savings account. This is essential to fight any unexpected requirements that may come up in our daily lives. However, what if you had an equally convenient option to park your savings money in another well-regulated, transparent, ea

   In the last few years, India's growth story has centered around the youth which has been on a spending spree. Hence, most of the economic activity has focused on wooing this segment. This is reflected in the number of malls that are coming up or the scorching pace at which mobile phones are hitting the market. Amid this environment, it was a pleasant surprise when the Finance Minister came up with tax sops for those aged above 80. He even referred to them as super senior citizens.    With life expectancy improving, many families have at least one individual who has celebrated his 80th birthday. With many of them having a good lifestyle and ability to manage their life independently, wealth management is also a necessity. The Finance Minister seems to have recognised this.    Investors in this category can manage money slightly differently. One is to manage their funds themselves and the other is to lend their name to their family members. With the income tax limit being r