Prajna Capital - An Investment Guide

Tax Benefits on Insurance and Pension Life insurance and retirement plans are effective ways of saving taxes. The tax breaks that are available under our various insurance and pension policies are described below: 1 Our life insurance plans are eligible for deduction under Sec. 80C. 2 Our Pension plans are eligible for a deduction under Sec. 80CCC. 3 Our health insurance plans/riders are eligible for deduction under Sec. 80D. 4 The proceeds or withdrawals of our life insurance policies are exempt under Sec 10(10D), subject to norms prescribed in that section. INCOME TAX GROSS ANNUAL HOW MUCH TAX CAN YOU SAVE? SECTION SALARY Sec. 80C Across All income Slabs. Upto Rs. 33,990 saved on investment of Rs. 1,00,000. Sec. 80 CCC Across all income slabs. Upto Rs. 33,990 saved on Investment of Rs.1,00,000. Sec. 80 D* Across all income slabs. Upto Rs. 3,399 saved on Investment of Rs. 10,000. TOTAL SAVINGS POSSIBLE ** Under Sec. 80C + 80 CCC - Rs. 37,389 Under Sec. 80 D - Rs.3,399 , calculated fo...

Book Losses before 31 March And Set Off Against Cap Gains For Next 8 Yrs, Advise Tax Experts ARE you sitting on unrealized losses from the recent downturn in the stock market? If the investments are less than a year old, you could put it to good use and lower your tax liabilities for the current financial year. Tax experts are advising investors to book their losses on or before March 31 this year and buy back those positions in the next financial year. By doing so, the tax on short-term capital gains (if any) can be set off to the extent of the short-term capital losses. Market watchers are expecting some sharp swings in many small and medium cap stocks over the next few weeks as investors try to balance their account books. Short-term capital losses for the year can be set off against any capital gains, short or long term, reported under the head, income from capital gains. In case the gains are lower than the losses, the excess short-term capital losses can be carried forward and s...

Insurance Insurance is the lifejacket you wear in a storm, the umbrella that shields you in a downpour, It does not prevent these events from taking place, but makes sure that their impact is lessened and that you have something to hold on to. It gives you the financial security and certainty to deal with the aftermath of these events. It becomes the earning member of the family and supports you and your family during the rough times. Why Life Insurance Protection You need life insurance to be there and protect the people you love, making sure that your family has a means to look after itself after you are gone. It is a thoughtful business concept designed to protect the economic value of a human life for the benefit of those financially dependent on him. That’s a good reason. Supposing you suffer an injury that keeps you from earning? Would you like to be a financial burden on your family, already losing out on your salary? With a life insurance policy, you are protected. Your family ...