Prajna Capital |
- Canara Robeco Mutual Fund - Change in Fund Manager
- Tips to avoid Tax Deduction at Source (TDS)
- SEBI Know Your Customer (KYC) Process
| Canara Robeco Mutual Fund - Change in Fund Manager Posted: 24 May 2013 04:47 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
Canara Robeco MF has appointed Akhil Mittal as the new fund manager for Canara Robeco InDiGo Fund, Canara Robeco Gilt PGS and Canara Robeco Income fund.
Mittal replaces Ritesh Jain with effect from may 25,2013.
Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- 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 ( ELSS Mutual Funds )
------------------ Best Performing Mutual Funds
|
| Tips to avoid Tax Deduction at Source (TDS) Posted: 24 May 2013 04:41 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
What is TDS?
Where is it applicable?
What is that rate of tax deduction?
Save TDS on Salary
It is mandatory as per Indian Income Tax rules that companies as well as working professionals who earn above the aforementioned figure should deduct tax at source from the payments they make. Employers normally will ask employees to fill an investment declaration form. If you have done an early homework to save your TDS deduction by investing in several tax saving instruments under Sections 80C, 80D, or planning to do within that financial year, do declare the details in the form with required proofs to save TDS. If despite all your investments, your salary is still above the exemption limit, TDS will be deducted monthly. TDS is applicable for payments including commissions, service fees, professional fees and payment via contracts. Here the TDS certificate issued will be Form 16 B which like Form 16 A, can be produced while filing income tax return to get reversed if applicable. Income generated through bank deposits
TDS is deductable on interest income paid by banks and financial institutions in respect of FDs (exceeding Rs.10000 in a FY) and term deposits (exceeding Rs.5000 in a FY). If your income is below the taxable limit, but the interest earned from your deposits is above Rs 10,000, you can request your bank not to deduct tax by submitting form 15 G and 15 H to the bank at the beginning of the financial year. Another effective way is to opt for multiple smaller fixed deposits across various banks. Splitting the interest earned across two financial years in such a way that the overall annual interest earned from any of the FD not exceeding Rs 10,000 is another workable option. In certain cases, dividing fixed deposits under two different heads can also be useful in avoiding. Individuals can divide deposits in their names and have some under a HUF account to avoid interest generation cross the taxable limit. And never forget to carry your PAN card for all fixed deposits over Rs.50000, because on not receipt of PAN number banks may deduct 20% TDS which is non reversible. TDS from Property, Awards and Incentives:
TDS is applicable in case of earnings sale of property, rental / lease income, cash prizes, lottery winnings etc. The amount of deduction may vary from 1% in case of sale proceeds to nearly 30% in case of cash awards. Individuals seeking TDS refund in the above mentioned situations can submit form 15G/H which is a self deceleration that your income is below taxable limit. This is applicable only for Indian residents including senior citizens and Hindu Undivided Families (HUF's). Form 15G can be filed by all Indian residents whose total financial income for the designated financial year is below the threshold limit while senior citizens need to avail Form 15H for the same purpose. It is imperative to note that Non resident Indians are not allowed the use of forms 15G and 15H and need to apply separately. In case of rental income, TDS will be deducted only if the rent you receive is not less than Rs1.8 lakh a year. In case of joint ownership of rented / leased property, where the specific share of the property is decided, the limit of Rs 1.8 lakh can be claimed separately by each owner. Reversing TDS collected
Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- 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 ( ELSS Mutual Funds )
------------------ Best Performing Mutual Funds
|
| SEBI Know Your Customer (KYC) Process Posted: 24 May 2013 03:11 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
Once you have submitted the filled-up form and attached the photocopies of relevant documents like PAN, proof of address, proof of identity, etc with the KRA, the agency would take about two weeks to process your KYC application. After that, if everything is in order, the KRA will intimate you your KYC compliance number.
Once you have a KYC number, it would be valid for all investments and transactions that you undertake with every financial institution that is regulated by Sebi. These institutions include all mutual funds, brokers, portfolio management schemes offered by brokers, banks, etc. It's been a little over a year now that Sebi has put in place a uniform KYC format for all financial entities under its regulation.
If you are not very confident of doing it on your own, you can approach a mutual fund agent, distributor, financial planner, mutual fund house or a broker to help you become KYC complaint. Another positive aspect is that even if you do not have a KYC, you can still invest in a mutual fund. However, when you fill up the form to invest in a fund for the first time, simultaneously you also need to fill up the KYC compliance form. This will then be sent to a KRA for your KYC compliance. Happy Investing!! We can help. Call 0 94 8300 8300 (India) Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com
--------------------------------------------- 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 ( ELSS Mutual Funds )
------------------ Best Performing Mutual Funds
|
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