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- How to Extend your insurance cover on paid - up policies
- Leave Travel Tax Benefits
- Advice for financial planning
| How to Extend your insurance cover on paid - up policies Posted: 12 Jun 2013 04:32 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
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: 12 Jun 2013 02:56 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
There are leave travel benefit concessions that are available for a salaried employee. It is important that the conditions related to the Leave Travel concession and its eligibility for a deduction is considered carefully. This will ensure that the individual is able to plan their trip and then the benefits are taken into their tax calculations which will result in a benefit at the end of the day. Here is a look at some of the main conditions related to the leave travel benefit.
Nature of receipt The first thing to consider is the fact that the employer provides an employee with the leave travel benefit in their salary structure. The amount has to be given under this specific head and it cannot be given as some other head but then be considered as a leave travel and then benefits taken on this income.
Under the normal working of a payment to a salaried employee this will be taxable however if there is some amount that can be considered as being tax free according to the workings then this will be reduced from the amount received and the net figure would be the amount that would be taxable. The tax benefit can be taken twice is a block of four years. This period of 4 years is decided by the tax authorities so the salaried individual has to look at that specific time period and then make their decisions about how they will go about the process. The current block is from 2010 to 2013 which covers the period January 1, 2010 to December 31, 2013. This is important for the current year because if the benefit has not been taken then it should be used by the end of December.
Leave benefit also for his family One point that is important as far as the overall tax benefit is concerned is that the tax benefit is available for the individual who is salaried and is also extended to his family who is travelling with him. This means that the expense on the tickets of his entire family would be available as a deduction. The key part here is the definition of a family and the good part is that the term here is quite wide. On one side it includes the spouse as well as children of the individual salaried so this is quite clear. However only 2 children are covered for the benefits. There is however an addition to the list and this will include parents, brothers and sisters of the individual or any one of them.
The addition of the other close members of the family will be possible only when they are wholly or mainly dependent on the individual. The test of dependence is very important especially when it comes to the parents and siblings so this needs to be kept in mind when the planning is being undertaken.
Any place in India The most important component of the entire exercise is that the benefit is available only when the leave is for going to any place in India. This clearly means that international travel will not get the same benefits as the travel within the country. The exemption is restricted to the actual expenses included on air fare, rail fare or bus fare only. Other expenses like scooter or taxi charges or even staying expenses at the place where the travel has been taken would not be covered. The exemption is however allowable only for the shortest route to the place visited in India. This means that the individual has to be careful about the manner in which this is taking place and hence only tickets for Indian destinations would be eligible.
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: 12 Jun 2013 02:00 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
SEEKING expert advice, particularly while making a financial decision, doesn't necessarily compromise your own abilities to handle money matters. In fact, whoever isn't approaching a financial adviser for ideas in such situations, considering it needless expense, is probably making a mistake.
Although there's no fixed rate of fees for financial planners or advisers, it always pays to have a fair idea of what sort of advice should cost how much.
There can be a mutually agreed fixed fee, which is negotiable. There can also be a fee as percentage of the size of the portfolio or quantum of the asset. This percentage can be as low as 0.05 per cent, 1 per cent or as high as 2.5 to 3 per cent, even higher in some cases. Some financial planners or advisers also ask for management mandate (at least partially) for the asset/wealth/funds along with planning mandate.
There can be conflicts of interests in such cases and one should take adequate precaution and care. Sebi too is addressing this issue of conflicts of interests by way of stricter, stronger and wider disclosure norms.
There are times when an individual voluntarily offers both advisory and management mandates to his adviser to feel relaxed. That may not be wise.
One also should be doubly sure that one's financial planner is the person who has done the certification and is thus an authorised professional who has learnt strategies and has that indepth knowledge to understand how a common man's financial mess must redistributed.
You may come across individual financial advisers or organised sector institutes offering financial advisory services. In both cases, it is advisable to stay away from 'know-all' advisers and those who aren't coming up with enough alternatives.
You should be clear in your mind that you need a planner who would actually help you achieve your own financial goals.
But the individual fund or asset owner would have to be very particular on his part about certain things.
The whole idea of seeking professional help would be defeated unless you can communicate fully to your adviser the facts about your assets, liabilities, incomes, expenditures, habits, ambitions, aspirations, financial goals, crises and so on. You need to be crystal clear to get the best results.
And that's not just once or at the beginning of your association with your adviser. You must keep him posted all through it. Further, whenever there is a change in your income-expense level, plans and aspirations, you must keep your financial planner in the loop.
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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