Sunday, December 18, 2011

Prajna Capital

Prajna Capital


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.
 
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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

 

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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

 

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