Prajna Capital

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• ICICI Prudential Sweep is renamed as ICICI Prudential Money Market Fund
• One stop shop for Mutual Fund Applications
• What are the Tax benefits available in a mutual fund ?

ICICI Prudential Sweep is renamed as ICICI Prudential Money Market Fund Posted: 18 Dec 2011 02:21 AM PST   ICICI Prudential Mutual Fund has announced the change in the name of ICICI Prudential Sweep Plan, with effect from December 14, 2011. The new name of ICICI Prudential Sweep Plan will be ICICI Prudential Money Market Fund.   ---------------------------------------------------------- Buy Mutual Funds Online by selecting the Mutual Fund Schemes. Invest in Mutual Funds Online Mutual Funds Online   Download Mutual Fund Applications / Forms from all AMCs: Download Mutual Fund Applications

One stop shop for Mutual Fund Applications Posted: 17 Dec 2011 06:32 PM PST Download ALL Mutual Fund application from this single location. Mutual Fund Application Forms, Mutual Fund Additional Purchase Forms, Mutual Fund SIP / STP / SWP Forms, Mutual Fund ECS Stoppage Forms, and Other Service Forms for Mutual Fund   Download Mutual Fund Applications   Buy Mutual Funds Online by selecting the Mutual Fund Schemes.   Invest in Mutual Funds Online Mutual Funds Online

What are the Tax benefits available in a mutual fund ? Posted: 17 Dec 2011 09:37 AM PST Mutual Funds are tax efficient avenues, for example   Dividend income received from the Mutual Fund is exempt from tax in the hands of unit holder.  No tax is deducted at source for dividend income credited or paid by funds to its unit holders. No tax is deducted on capital gains in case of redemptions made by resident unit holders. The income earned by a mutual fund is exempt from tax, however, in certain cases, the income so distributed to unit holders is liable for dividend distribution tax. In case of an individual or HUF, investment of up to Rs. 1 lakh can be claimed as income deduction while calculating the taxable income, if the same is invested in Equity Linked Savings Schemes (ELSSs).   Note : The information on tax provided below is based on the mutual fund's understanding of the tax Laws as of date. In view of the individual nature of tax consequences, each investor is advised to consult his or her own tax adviser with respect to the specific tax consequences to him or her of participation in the scheme.   Tax rates for Financial Year 2011-12   Tax Implication on Dividend     Resident Individual/HUF Domestic Corporates NRI** Equity schemes Equity schemes Tax free Tax free Tax free Debt schemes Tax free Tax free Tax free   Dividend Distribution Tax (Payable by the Scheme) prior to May 31, 2011 Equity Schemes* Nil Nil Nil Debt schemes 12.5%+5% Surcharge+3% Cess 20%+5% Surcharge+3% Cess 12.5%+5% Surcharge+3% Cess =13.519% =21.63% =13.519% Money Market & Liquid Schemes 25%+5% Surcharge+3% Cess 25%+5% Surcharge+3% Cess 25%%+5% Surcharge+3% Cess =27.0375% =27.0375% =27.0375%   Dividend Distribution Tax (Payable by the Scheme) with effect from June 1, 2011 Equity Schemes* Nil Nil Nil Debt schemes 12.5%+5% Surcharge+3% Cess 30%+5% Surcharge+3% Cess 12.5%+5% Surcharge+3% Cess =13.519% =32.445% =13.519% Money Market & Liquid Schemes 25%+5% Surcharge+3% Cess 30%+5% Surcharge+3% Cess 25%%+5% Surcharge+3% Cess =27.0375% =32.445% =27.0375% Capital Gain Taxation Dividend Distribution Tax (Payable by the Scheme) with effect from June 1, 2011 Equity Schemes* Nil Nil Nil Debt Schemes 10% without indexation or 20% with indexation which ever is lower + 3% Cess 10% without indexation or 20% with indexation which ever is lower + 5% Surcharge # + 3% Cess 10% without indexation or 20% with indexation which ever is lower + 3% Cess*** Without Indexation =10.300% =10.815% =10.300% With Indexation =20.600% =21.63% =20.600%   Short Term Capital Gains (Units held for less than 12 months) Equity Schemes* 15% + 3% Cess 15% +5% Surcharge # + 3% Cess 15% + 3% Cess## =15.450% =16.223% =15.450% Debt Schemes 30% + 3% Cess ^ 30% +5% Surcharge # + 3% Cess 30% + 3% Cess ^ =30.900% =32.445% =30.900%   Tax deducted at source pertaining to NRI Investors   Short Term Capital Gain Long Term Capital Gain Equity 15.450% ## Nil Debt 30.900% 20.60%@     Download Section 80CCF Tax Saving IDFC Infrastructure Bonds Application Form   https://sites.google.com/site/infrabondapplications/home/IDFC-Infrastructure-Bond-Application-Forms   Download Section 80CCF Tax Saving L&T Infrastructure Bonds Application Form   https://sites.google.com/site/infrabondapplications/home/l-t-long-term-infrastructure-bond-for-year-2011---2012   Find a collection canter:   Collection canter near you     --------------------------------------------- Buy Mutual Funds Online by selecting the Mutual Fund Schemes. Invest in Mutual Funds Online Mutual Funds Online   Download Mutual Fund Applications / Forms from all AMCs: Download Mutual Fund Applications

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