Prajna Capital |
- What is TDS? - Tax Deducted at Source
- BHARATIYA Mahila Bank
- Hudco tax-free bond to open on Dec 2 with 9.01% interest
| What is TDS? - Tax Deducted at Source Posted: 29 Nov 2013 04:06 AM PST Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
TDS - Tax Deducted at Source
Receiving a raise in salary is one of the happiest moments in one's life. However just as all good things in life come to an end the taxman is lurking around the corner. This time the problem is tax deducted at source. In life leaving things to chance is more than a gamble. The taxman never takes a chance. Whatever is owed to him is collected even before it reached one's hands. Think about the provincial slip between the cup and the lip and one's celebration is cut short prematurely.
What is meant by tax deducted at source?
This is mainly a tax collection mechanism where tax is deducted by one's employer and directly deposited with the Government. It is assumed that an employee of a company and a tax paying citizen of India will have some tax liability. TDS is deducted directly from one's salary by the employer. The employer estimates tax liabilities taking into account the maximum tax deductions under Section 80 C, Section 80 D, Section 80 E and other tax saving instruments and deducts a certain amount directly from one's salary and pays it as income tax to the Government. One then calculates the actual tax liability. If the tax liability is more than the TDS one pays the balance amount and if the tax to be paid is less than the TDS then one can claim a refund. The Company issues the Form 16 which contains the details of the tax deductions made by one's employer on behalf of the employee. The Form 16 consists of the income earned in the previous year, tax liabilities as well as the tax deductions. The Form 16 gives the salary for the entire assessment year or for the duration of the stay in the Company. The Form 16 is given by one's employer in the month of May or June. The deadline for filing the income tax return is July 31st.One needs to make sure that the Form 16 is in one's hands well in advance of this deadline. The Form 16 consists of the details of the PAN (Permanent Account Number) and the TAN (Tax Deduction and Account Number) of the employer who deducts the tax at source.
How is tax deducted at source?
Tax is mainly deducted from the following income. It may include salary, lottery winnings, interest from savings accounts, fixed deposits and corporate fixed deposits, property, rental fee, interest on securities, dividends from shares and mutual funds, commission and brokerage, fees for professional services, Superannuation funds, debentures and so on.
When is tax deducted at source?
I would like to end this article stating that the Income tax department takes no chances and collects its dues from the citizens of our country without waiting to see if they are generous enough to give it themselves .It is up to each one of us who is eligible for a TDS refund to claim these amounts and submit the relevant forms on time in order to make the claim.
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 )
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| Posted: 29 Nov 2013 03:47 AM PST Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
BHARATIYA Mahila Bank, the first all-woman bank, plans to open 16 more branches in the next four months.
"We plan to add another 16 branches to our network in the next four months," Mahila Bank chairperson and managing director Usha Ananthasubramanian said.
Two branches would be inauguarted as early as first week of next month.
These are Delhi and Indore branches, she added.
New branches would be coming up in state capitals and Union territories.
The bank intends to fulfil its obligation of meeting 25 per cent of its branches in rural and unbanked areas from the next financial year.
Earlier this month, the bank, a pioneering initiative to empower women, was launched with a corpus of Rs 1,000 crore to function as a universal bank.
Coinciding with the 96th birthday of late Indira Gandhi, prime minister Manmohan Singh inaugurated the first of its seven branches in the presence of UPA chairperson Sonia Gandhi on November 19 in Mumbai.
The idea of an exclusive lender for women was mooted at the Jaipur Congress plenary last year.
Mahila Bank with staff strength of 100 at the moment has drawn on a majority of cadre from staterun lenders.
Besides, it has recruited 110 freshers in officer cadre.
In another first, the Bharatiya Mahila Bank has an all-woman, eightmember board.
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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| Hudco tax-free bond to open on Dec 2 with 9.01% interest Posted: 29 Nov 2013 03:25 AM PST Invest In Tax Saving Mutual Funds Online Call 0 94 8300 8300 (India)
Hudco tax-free bonds 2013
STATE-OWNED Housing and Urban Development Corporation (Hudco) plans to raise Rs 2,439 crore from an issue of tax-free bonds starting December 2, its second tranche of such securities in this financial year.
The company had raised Rs 2,370 crore in the first tranche of tax-free bonds launched in September.
The finance ministry has allowed Hudco to raise Rs 5,000 crore through bonds in 2013-14. The company raised Rs 190.8 crore in August through a private placement with institutional investors.
The size of the tax-free bond issue is Rs 500 crore, with an option to retain oversubscription of up to Rs 2,439.2 crore, Hudco said in a statement.
The issue will open for subscription on December 2, and is scheduled to close on January 10, 2014. The bonds under the issue are proposed to be listed on the BSE, it said.
The funds will be used to finance the government's housing and urban infrastructure projects, working capital requirements, augmenting the company's resource base and other operational requirements.
For retail investors applying for bonds up to Rs 10 lakh, the coupon rate is 8.76 per cent per annum for 10 years, 8.83 per cent for 15 years and 9.01 per cent for 20 years.
The bonds bear a coupon rate of 8.51 per cent per annum for 10 years, 8.58 per cent for 15 years and 8.76 per cent for 20 years for qualified institutional buyers, companies and high net worth individuals.
The coupon rates are higher than the first tranche, a company official said
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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