Prajna Capital |
- Six easy steps to filing your IT returns online
- Build a corpus for Pension or Retirement
- How to estimate the time period for mutual fund dividends ?
- UTI Retirement Benefit Pension Fund
| Six easy steps to filing your IT returns online Posted: 09 Jul 2012 02:10 AM PDT Download Mutual Fund Application Forms Form ITR-V in a PDF format is generated as an acknowledgement on successful uploading of the income tax returns
THE due date for filing the personal tax return for the present year (FY 20112012) is July 31. It is now mandatory for individuals and Hindu undivided family (HUFs) to file tax returns online if the total taxable income is above Rs 10,00,000, or the assesse is an ordinarily resident individual / HUF holding foreign assets, financial interest or signing authority in any account outside India.
If you don't fall in the above category, you can still file your returns online, but, you also have an option to file it in hard copy. This article provides the various steps involved in online filing because for many taxpayers, this could be the first time that they are filing the returns online.
Step 1: Choose the correct form: The form could either be ITR-1 (Sahaj), ITR 2, ITR-3, ITR-4S (Sugam), or ITR-4 based on your source of income, level of income, residential status and whether you have foreign assets. Individuals with income above Rs 10,00,000 and resident individuals/ HUFs who have foreign assets, financial interest or signing authority for accounts outside India, can use only ITR-2, ITR-3 and ITR-4.
Step 2: Register on the tax department website: You need to register yourself on income tax website http://www.incometax indiaefiling.gov.in by clicking the `register' link. As part of the registration process, your personal details like PAN (permanent account number), name as per the PAN card, father's name, date of birth, email address and contact number are required to be provided. The website provides directions to complete the registration process.
Step 3: Download and complete the details in the tax return: The return preparation software and form can be downloaded from the website by clicking the link `e-filing AY 2012-13'. Fill in the personal information and income related details in the downloaded form. To en sure that all columns in the return are properly filled in, there is a process to validate the information by clicking on the `validate button' on the last sheet of the return. On successful validation, access the `generate XML ' link on the tax return and save the generated XML file.
Step 4: Upload the tax return online: Once you have registered yourself on the website and filled up your return, the next step is to actually file the return.
Step 5: Return filing acknowledgement: Form ITR-V in a PDF format is generated as an acknowledgement on successful uploading of the return. The password to open ITR-V is your PAN followed by your date of birth. A copy of the ITR-V should be saved for future reference, and a printed copy, signed in blue ink, should be sent by ordinary post to `income tax department -CPC, post bag No 1, electronic city post office, Bengaluru-560100, Karnataka' within 120 days of filing the return.
In case the return was filed using a digital signature, the return filing process is completed on uploading the return and there is no need to send the ITR-V to CPC Bangalore.
Step 6: Track the return status on the website: Once the tax return has been filed, you can periodically log into your account on the tax department website and check if the ITR-V has been received. Your online return filing process is complete once the same appears as `processed' in your account. Tracking the status online also helps you know the status of any refund due to you or any demand notices that may have been issued. --------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
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| Build a corpus for Pension or Retirement Posted: 09 Jul 2012 12:21 AM PDT Download Mutual Fund Application Forms
Can one create a superannuation plan? Financial planners say it is possible. And here's how:
Ø
Ø Increase your savings by 5% every year
Ø Assume 15% average annual return in equity and 6% in debt
Ø At 40, you will have an estimated superannuation corpus of Rs 29.2 lakh
Ø At 50, your estimated corpus is Rs 1.42 crore
Ø When you retire at 60, this would be about Rs 5.8 crore tIf your initial savings amount is Rs 75,000, you end up with about Rs 4.3 crore at 60
Ø If you start at 40 with Rs 1 lakh per annum, your corpus would be just Rs 1.6 crore at 60
-------------------------------------------- Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms
Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  |
| How to estimate the time period for mutual fund dividends ? Posted: 08 Jul 2012 10:47 PM PDT Download Mutual Fund Application Forms
THERE is constant news flow about how mutual funds are declaring dividends, and often, it becomes difficult for the investor to actually keep track of what is actually happening. Instead of feeling confused and not knowing how things are proceeding around them, investors could easily ensure that they are on top of all developments that are taking place.
This can be done by ensuring that they have done their homework well and are able to predict what will actually happen at specific points of time. Here are a few ways in which this situation will play out when it comes to the time period of dividends.
Regular annual dividend: There are several funds that declare dividends at regular intervals. This helps the investor to be aware of when a particular fund declares dividend. For this, the investor has to study past history and know when the fund will actually declare dividends.
This is the easiest scenario because there is an element of predictability built into it, so while the investor might not know the amount of dividend, they will know when the dividend is coming.
Specific scheme: There are certain types of schemes where the dividend declared is already present as a basic part of the entire investment option, so there is very little that the investor needs to do except select the right option. Take for example several debt-oriented funds where there might be an option of quarterly and annual dividends. In this case, selection of the option will ensure a specific time period when the dividend will be received. For many funds, there might just be an annual option, but, whatever the situation, the situation is such that the time period for the dividend is known.
Default dividend: Often, the nature of the fund actually determines when the dividend is paid, and hence, there is not much that the investor has to think about.
Take the case of fixed maturity plans and the dividend option that they might offer.
If the time period of the fund is around 180 days and the dividend option is chosen, then the amount of the dividend will be paid at the time of maturity of the fund.
When this is the case, then, understanding the situation will give the investor a proper estimate of when the dividend can be expected. In such cases, where the net asset value of the fund is also known, it is possible for the investor to get an estimate of the dividend that will be received from the fund.
Non-regularity dividends: There will also be several funds where there will not be any regularity of dividends that will be received, and, in these cases, there is difficulty in estimating when the dividend will actually be received. However, there is a way by which even this can be estimated and this can be done by reviewing when the fund actually has declared dividends in the past and what might be revealed is that during good times, there will be a slew of dividend declarations when the amount available for distribution is present. In this case, market conditions in connection with equity funds will enable the investor to make a good guess on what is expected. ------------------------------------------- Invest Mutual Funds Online Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms Best Performing Mutual Funds
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| UTI Retirement Benefit Pension Fund Posted: 08 Jul 2012 07:48 PM PDT Download Mutual Fund Application Forms
It is a decent, conservative fund that has an allocation of 60 per cent to fixed income and 40 per cent to equity. This is an old fund, which was launched in 1994.
It is one of the two so-called pension funds, although it doesn't have the features that we think are necessary for a pension product. However, it does come with a tax benefit under Section 80C, wherein investments of up to Rs 1 lakh in this fund would give you a tax break. In the fund's long history, it has earned an annualised return of 10.5 per cent. This performance is average when compared to other conservative debt-oriented vehicles, but it's not bad if you look at the fund as a standalone investment, especially since it also entails a tax break. ------------------------------------------- Invest Mutual Funds Online
Download Mutual Fund Application Forms from all AMCs Download Mutual Fund Application Forms
Best Performing Mutual Funds
Mutual Fund Application Forms Download Any Applications Buy Mutual Funds Online Invest Online Infrastructure Bond Application Forms Download Applications  |
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