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| Home Loan tax benefit under Section 24 Posted: 10 Jun 2013 04:14 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
Housing loan tax benefit u/s 24The interest portion of housing loan EMI paid in a financial year can be claimed as deduction u/s 24 up to a maximum limit of Rs 1.50 lakh per year. Interest payment is considered as expense under the head"income from house property". The best part in tax benefit under section 80C and section 24 with respect to housing loan EMI is that there's no limit on"Self occupied houses". Say for example you work in Delhi, but you have one house in Chandigarh and other in Mumbai, for which you are paying housing loan EMIs, You can claim benefit of Section 80C and Section 24 for both of houses under self-occupied category within the maximum limit u/s 80C which is Rs 1 lakh and u/s 24 which is Rs 1.5 lakh, combining the total principal and Interest payment of all the houses. Do note that both benefits can be claimed only after taking possession of house. Some conditions to avail this benefit: Maximum interest allowed in aggregate of Rs 1.50 lakh per year, if the following conditions are satisfied- a) Loan is utilised for construction or acquisition of house on or before 1-4-99. b) Construction or acquisition of house should be complete in maximum of 3 years starting from the end of financial year in which capital is borrowed. One more interesting point here is that section 24 tax benefit can be claimed even if the loan is raised from friends, family or relatives. If you have good inflow of income and then by doing tax planning early in life you can create different tax files in the family and can use them for your own tax benefits. This way you can save on the interest payment to bank, and also be able to claim tax benefit on your own income. Do note that this benefit can only be claim against the certificate issued by the loaner and he has to pay tax on the interest received against this loan Special tax incentive announced for people taking first home loan up to Rs 25 lakh in FY 2013-14 (Section 80EEE). In this scheme additional interest deduction of Rs 1 lakh is offered only for one year. If one could not exhaust the full Rs 1 lakh in 2013-14, then he can carry forward the balance to next year. Please note this is over and above the deduction of Rs 1.5 lakh and of course with many additional conditions. 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
|
| Posted: 10 Jun 2013 02:04 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
Launched in September 1994, Franklin India Prima Plus Fund has been ranked CRISIL Fund Rank Two ( top 30 percentile of the peer set indicating good performance) in the diversified equity category under the CRISIL Mutual Fund Ranking for the quarter ended March. The fund has been in the top- 30 percentile of the peer group for the past four quarters. The fund is jointly managed by Anand Radhakrishnan and R Janakiraman and had average assets under management (AUM) of ₹ 1,953 crore for the quarter ended March. The investment strategy of the fund outlines it would follow a blend of value and growth style of investing. Further, it intends to follow a bottom- up approach to stock- picking and choose wealth- creating companies across the sectors. Performance The fund has delivered superior returns and outperformed both its benchmark ( CNX 500 Index) and the category average over the one-, three-, five-, and sevenand ten- year time frames. Over the past five years, the fund has returned 9.31 per cent annualised gains compared to 4.58 per cent and 7.13 per cent by its benchmark and category, respectively. An investment of ₹ 1,000 since inception ( September 29, 1994) of the fund would have appreciated 25 times to ₹ 24,718 as on June 04, 2013. An equal amount invested in the benchmark would have returned a much lower ₹ 4,275, while the category would have yielded ₹ 13,668 during the same period. Even on a risk- adjusted basis, the fund has performed well, which is reflected in a higher Sharpe ratio of 0.23 compared to negative 0.07 for the category, over the past three years. A monthly investment of ₹ 1,000 under a systematic investment plan ( SIP), over seven and ten years till June 04, 2013 would have grown to ₹ 1,21,017 and ₹ 2,78,160, i. e., an annualised return of 10.46 per cent and 16.25 per cent, respectively. A similar investment in the benchmark would have grown to ₹ 1,04,722 and ₹ 2,08,206 in the same periods, yielding 6.33 per cent and 10.76 per cent, respectively. Portfolio diversification The scheme intends to invest in adiversified portfolio of primarily large- cap stocks with a marginal small- and mid- cap exposure. The average equity exposure to CRISIL- defined large- cap stocks ( top- 100 stocks based on average market capitalisation on the National Stock Exchange) is 73 per cent over the past three years. The fund has actively managed its equity exposure to large- cap stocks over the past three years to reduce volatility of the portfolio. The fund increased its exposure to large- cap stocks to an average 76 per cent during March 2011 to May 2012 when the markets were volatile. The fund has maintained an average equity allocation of 95 per cent during the three- year period ending April 2013 but reduced it to 90 per cent in September 2011 when market volatility was at peak. The fund was well- diversified and held an average of 54 stocks over the past three years, with the top- 10 stocks accounting for 39 per cent of the portfolio. The category held 46 stocks during this period, with the top10 stocks constituting 45 per cent of the portfolio. The fund is well- diversified at the sector level as well, with its top- five sectors constituting 51 per cent of the portfolio, compared to 56 per cent for the category during the three- year period. Banks have been the most favoured sector over the past three years, with an average 17.5 per cent exposure followed by telecom services ( 9.4 per cent) and software ( 8.9 per cent). The fund has been overweight on banks, telecom services and pharmaceuticals compared to the category during the same period. This has mainly contributed to the fund's excess returns over the benchmark. Some of the stocks retained by the fund over the past three years, which helped outperform the CNX 500 Index, are Idea Cellular, Kotak Mahindra Bank, Bosch and HDFC Bank.
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
|
| Posted: 09 Jun 2013 11:57 PM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
We like this fund for its consistent performance irrespective of the direction taken by the markets. In its 15-year history, it has underperformed the category average only thrice.
Performance driver: A diversified portfolio with no restriction to market capitalisation has been a factor that has helped this fund fare well. The diversity takes this fund to invest in a portfolio of 60 stocks which is way ahead of the category average of about 45.
Risk: Despite doing well in different market cycles over the years, this fund is not a chart topper.
Why invest? Benefits of tax deductions at low investment risk and sustained outperformance make this fund a compelling pick, which is a reason for the rise in assets this fund manages.
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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