Prajna Capital |
| Posted: 14 Jun 2013 04:27 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
There has been a downward interest rate trend and we have seen a 75 basis points cut in the interest rates since the start of the year.
The period with highest rates was the most opportune time to invest in gilt or long-term bond funds, which has passed. However, with inflation following a downward trend, there is a general consensus expecting more rate cuts. Therefore, it could be an opportune time to get into gilt funds for an opportunistic fixed income investor.
If you want to invest in a debt fund for long-term, you should consider investing in dynamic bond funds or flexi debt funds. These funds can invest in all kind of debt instruments with varyinsg maturities, depending on interest rate scenario. Such flexibility helps in uncertain times. These funds adapt themselves to the changing interest rate scenario, thus reducing interest rate risk to some extent.
Monthly Income Plans (MIP) are conservative debt-oriented funds that invest around 10 to 25 per cent in equity and the rest in debt. MIPs aim to provide regular dividends, although it's not mandatory for the scheme. These funds are expected to outdo inflation with their equity exposure.
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: 14 Jun 2013 02:18 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
|
| How to save on Tax for professionals? Posted: 14 Jun 2013 12:44 AM PDT Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
Ignoring the claims you are entitled to could result in a big tax outgo that's easily avoidable Action Plan
*** In this world nothing can be said to be certain, except death and taxes," said Benjamin Franklin. While the former is inevitable, efficient planning can soften the latter's blow. Here, we examine some key tax-planning strategies that professionals such as lawyers and doctors may adopt. As a starting point, note that 'income net of expenditure' is taxable under the head 'profits and gains of business or profession'. Capturing income and expenses. At the outset, income from regular clients and from customer services should be captured correctly. Income/honoraria from activities such as giving lectures, if applicable, should be offered to tax. Office expenses, cost of utilities, staff expenses, travel and telephone expenditure and Internet charges incurred for professional purposes are some examples of deductible expenses. Professionals need to constantly update themselves technically, but related expenses such as attending seminars and conferences, updating professional skills and knowledge, professional membership fees and subscription costs for professional journals, tend to be ignored in computing deductible expenses. Most self-employed individuals have to incur some capital expenses depending on the nature of the profession, e.g., office equipment such as computers, diagnostic instruments, furniture and fixtures. Depreciation for these assets can be claimed at the rates prescribed: where the asset is put to use for a period of less than 180 days in the year of purchase, the entitlement for depreciation will be at 50 per cent of the prescribed rates. Books, being annual publications, are entitled for a depreciation of 100 per cent. Getting documentation right. Complications arise when the professional uses his property for both residential as well as professional purposes. In such cases, a reasonable proportion of the actual expenses incurred on maintaining the property, related taxes and utility costs need to be attributed to the professional services rendered. Same is the case when the professional uses his own car for commuting, for both official and personal purposes. Maintaining a log book for official travel and related costs is a must. Invoice copies of expenses incurred may be stored and produced to the tax authorities later to substantiate these. The tax laws mandate maintenance of specified books of account if one's professional income/gross receipts exceed the prescribed limits. Also, a tax audit is mandated if the gross receipts exceed Rs 15 lakh during the financial year. Knowing deductions available. Employer-funded retirement plans in the form of gratuity and provident fund do not exist in the case of professionals. Therefore, there is an even greater need for conscious savings and efficient retirement planning—such savings for a rainy day can also help to reduce taxes if the investments and contributions are made in specified instruments. Getting a health and a life cover also helps. The expenditure incurred by a professional towards paying rent for his residence (in excess of 10 per cent of his total income) can be claimed as a deduction, subject to a ceiling of Rs 2,000 per month or 25 per cent of his total income, whichever is lower. Exercising caution. If income has been subject to tax deduction at source (TDS), it needs to be supported by certificates by the person who has made the deductions. Income tax due (over and above the TDS) is required to be paid in advance over three instalments during the financial year. Timely payment of taxes helps in reducing the interest cost. However, claiming a refund arising out of excess TDS on receipts could be tedious and it may impact the cash flow. Hence, a certain amount of planning is important in the payment of tax. Approaching the tax authorities for a certificate for lower TDS could be considered if the TDS is expected to be more than the tax payable. With the processing of returns through the Central Processing Centre, the issue of refunds could be faster if tax returns are filed electronically. This should be kept in mind while filing the return.
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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