Thursday, January 19, 2012

Prajna Capital

Prajna Capital


ELSS Mutual Funds Tax Exemption

Posted: 19 Jan 2012 03:52 AM PST

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 are:
1. HDFC TaxSaver
2. ICICI Prudential Tax Plan
3. DSP BlackRock Tax Saver Fund
4. Birla Sun Life Tax Relief '96
5. Reliance Tax Saver (ELSS) Fund
6. IDFC Tax Advantage (ELSS) Fund
7. SBI Magnum Tax Gain Scheme 1993
8. Sundaram Tax Saver
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Application form for Tax Saving Infrastructure Bond and more information

Current open Infra Bond Application form

Submit filled up application    Collection canter near you

 

ICICI Prudential Mutual Fund New FMP ICICI Prudential FMP Series 61 27 Months Plan D

Posted: 19 Jan 2012 02:32 AM PST

ICICI Prudential Mutual Fund has extended the new fund offer period of ICICI Prudential FMP Series 61 27 Months Plan D. Now, the scheme will close on January 21.
 
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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

 

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Application form for Tax Saving Infrastructure Bond and more information

 

Current open Infra Bond Application form

 

 

Submit filled up application    Collection canter near you

 

L&T Infrastructure bonds 2012

Posted: 19 Jan 2012 01:53 AM PST

Invest in Tax Saving Infra Bonds upto Rs 20,000 and Save tax under Section 80CCF. This is over and above Rs 1 lakh tax saving investment option available under Section 80C. You can save tax upto Rs 6100 and earn returns in excess of 9% over long period of time 10 to 15 years.

 

Download Infra Bond Application form below.

 

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Application form for Tax Saving Infrastructure Bond and more information

 

Current open Infra Bond Application form

 

 

Submit filled up application    Collection canter near you

 

 

---------------------------------------------

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

 

 

Income Tax Benefits under Section 80D, Section 80DD and Section 80DDB

Posted: 19 Jan 2012 12:37 AM PST

 
Here is Complete information on income tax deductions under sections 80D, 80DD and 80DDB which relate to medical expenses and health insurance / mediclaim. Good understanding will help you in substantial tax savings.

Every family has regular medical expenses. This may be towards a health insurance premium, or expenditure related to a family member's disability/critical illness. The Income Tax Act of 1961 has made provisions to reduce this burden through tax deductions under Income Tax section 80D, section 80DD, section 80DDB. Read on to understand how to use these sections to your benefit.

Section 80D in Respect to Health Insurance Premiums

Investments made towards payment of health insurance premiums, qualify for a tax deduction under section 80D.

  

Available Deduction - For individuals less than 65 years of age, amount of health insurance premium paid or Rs. 15,000, whichever is lesser. For senior citizens above 65 years, amount of health insurance premium paid or Rs. 20,000, whichever is lesser.

 

A further deduction of Rs 15,000 could be claimed, for buying health insurance policy for your parents (Rs 20,000 if either of your parents is a senior citizen). This is irrespective of whether they're dependent on you or not. No deductions can be claimed for in-laws.

 

Scope of Deduction - Individual assesses can claim deduction for premiums paid towards health insurance of self, spouse, parents and children.

 

For HUF assesses, premium paid for insuring the health of any member of the HUF, can be used for deduction.

 

Key Factors to keep in mind

  1. The premium may be paid by any mode of payment, other than cash.
  2. The health insurance premium that you pay must be from the taxable income applicable for the year you claim. Premiums should not be from gifts received by you.
  3. Part payment of premium is allowed. For example, suppose your parents contribute 50% of their health insurance premium and you pay the balance 50% of their premium. In such a case, you could avail the deduction for the amount contributed by you and your parents too could avail deduction for their contribution.

       

Section 80DD for Medical Treatment of Handicapped Dependents

If you are incurring expenditure for the treatment of your handicapped dependent, you could claim a deduction under section 80DD.

Available Deduction - Rs 50000, or actual expenditure incurred, whichever is lesser. For severe handicap conditions Rs. 1,00,000 is the deduction limit.

 

Scope of Deduction - Deduction can be claimed for dependent parents, spouse, children and siblings. Dependents must not have claimed any deduction for their disability.

 

Deductions are permissible in either of the following cases.

a) Costs incurred for medical treatment, training or rehabilitation of a disabled dependent, including amount spent for nursing.

b) Amount paid towards an insurance scheme for the maintenance of your disabled dependent in case of your untimely death.

  

Meaning of Disability- Disability means a person suffering from 40% or more of any of the below disabilities. A severe disability condition is  80% or more of the disabilities.

a) Blindness and Vision problems

b) Leprosy-cured

c) Hearing impairment

d) Locomotor disability

e) Mental retardation or illness

   

Key factors

a) Individuals would need to produce a copy of the disability certificate as issued by the central or state government medical board to claim deduction.

b) Insurance policy obtained must be in your name and should be a policy for life. It could pay either an annuity or a lump sum amount for the benefit of the dependent on your death.

c) If the disabled dependent predeceases you, the policy amount is returned to you, and treated as income for the year in which you receive it, thus fully taxable in your hands.

  

Section 80 DDB for Treatment of Specified diseases

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

  1. 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.
A certificate would be required from a specialist working in a government hospital, as proof for the specified ailment.

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Application form for Tax Saving Infrastructure Bond and more information

 

Current open Infra Bond Application form

 

 

Submit filled up application    Collection canter near you

 

 

---------------------------------------------

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

Section 80C Mutual Fund

Posted: 18 Jan 2012 11:20 PM PST

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

 

---------------------------------------------

Application form for Tax Saving Infrastructure Bond and more information

 

Current open Infra Bond Application form

 

 

Submit filled up application    Collection canter near you

 

 

SREI Infrastructure Bond

Posted: 18 Jan 2012 10:08 PM PST

 

Download SREI Infrastructure Bond Application Form
 

SREI Infra Bond Application form

 

 

Submit filled up application    Collection canter near you

 

---------------------------------------------

Invest in Tax Saving Mutual Funds Online

 

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Mutual Fund Applications

 

 

 

 

Infrastructure Bonds Tax Exemption

Posted: 18 Jan 2012 09:12 PM PST

Application form for Tax Saving Infrastructure Bond and more information

 

Current open Infra Bond Application form

 

 

Submit filled up application    Collection canter near you

 

 

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

Top 5 Tax Saving Mutual Funds

Posted: 18 Jan 2012 09:15 AM PST

Some of the best Tax saving Mutual Funds available are:
1. HDFC TaxSaver
2. ICICI Prudential Tax Plan
3. DSP BlackRock Tax Saver Fund
4. Birla Sun Life Tax Relief '96
5. Reliance Tax Saver (ELSS) Fund
6. IDFC Tax Advantage (ELSS) Fund
7. SBI Magnum Tax Gain Scheme 1993
8. Sundaram Tax Saver

 

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
---------------------------------------------

Application form for Tax Saving Infrastructure Bond and more information

Current open Infra Bond Application form

Submit filled up application    Collection canter near you

 

Tax Saver Mutual Funds

Posted: 18 Jan 2012 08:11 AM PST

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

 

Invest Tax Saving Mutual Funds Online

Mutual Funds Online

  

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Application form for Tax Saving Long Term Infrastructure Bond  

 

Current open Long Term Infra Bond Application form

 

 

Submit filled up application    Collection canter near you

 

 

Infrastructure Bond Application Forms

Posted: 18 Jan 2012 08:01 AM PST

Application form for Tax Saving Long Term Infrastructure Bond  

 

Current open Long Term Infra Bond Application form

 

 

Submit filled up application    Collection canter near you

 

---------------------------------------------

Invest in Tax Saving Mutual Funds Online

 

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Mutual Fund Applications

 

 

 

IDFC Bond 2012

Posted: 18 Jan 2012 07:31 AM PST

Invest in Tax Saving Infra Bonds upto Rs 20,000 and Save tax under Section 80CCF. This is over and above Rs 1 lakh tax saving investment option available under Section 80C. You can save tax upto Rs 6100 and earn returns in excess of 9% over long period of time 10 to 15 years.

 

Download Infra Bond Application form below.

 

---------------------------------------------

Application form for Tax Saving Infrastructure Bond and more information

 

Current open Infra Bond Application form

 

 

Submit filled up application    Collection canter near you

 

 

---------------------------------------------

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

 

Submit filled up application    Collection canter near you

 

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