Prajna Capital

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• How much Income Tax can be saved by you in 2014?
• Income Tax Slabs for 2012 - 2013
• Income Tax Slabs for 2011 - 2012

How much Income Tax can be saved by you in 2014? Posted: 11 Feb 2014 04:13 AM PST Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300     How does it feel when your hard earned money is paid to the government as income tax each month ? If it feels bad, maybe you need to be aware of how much income tax can be saved by you in a financial year. If the money was used for the overall development of the country, which is what it was meant for in the first place, then it would have been great. But in our country, the tax we pay does land up in the wrong hands and gets wasted. Well you can do nothing about that. You cannot also do anything about the money you pay in income tax to the government apart from saving some of it. Beyond a certain amount that everyone can save, you will end up paying tax ! Your tax slab defines how much income tax can be saved by you   The government does not levy tax for some of the money that you earn. That for general tax payers and female working women is Rs 2 lakhs for this year ( AY 2013-2014 which is same as FY 2012-2013). For senior citizens, that is Rs 2.5 lakh and for very senior citizens, it is Rs 5 lakh. Beyond this earnings of yours, you will have to pay tax. The government also says that the more you earn, the more income tax you have to pay. As you must be aware, and this is common knowledge, that tax is paid at 10%, 20% and 30% on pre-defined income tax slabs that your income falls in. Look at the general tax payers state for this year. What you can infer from the below table is that for Rs 2 lakh, he does not have to pay tax while for earnings between Rs 2 – Rs 5 lakh, he needs to pay 10% of that amount as tax. For earnings between Rs 5 lakh – Rs 10 lakh, the tax is to be paid at 20% and anything beyond that, it will be 30%. Income tax slab for general taxpayers Tax 0 to 2,00,000 No tax 2,00,001 to 5,00,000 10% 5,00,001 to 10,00,000 20% Above 10,00,000 30% There is a cess of 3% also that is charged on the above, so actually the tax rate comes to 10.30%, 20.60% and 30.90%. All tax payers will necessarily fall in these three brackets. So the question we are deliberating on today is how much of income tax can you save?     For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call     Leave a missed Call on 94 8300 8300   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 Mutual Funds Online Invest Any Mutual Fund Online   Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund Application Forms ---------------------------------------------   Best Performing Mutual Funds Largecap Funds             Invest Online DSP BlackRock Top 100 Fund ICICI Prudential Focused Blue Chip Fund Franklin India Bluechip ICICI Prudential Top 100 Fund B. Large and Midcap Funds         Invest Online ICICI Prudential Dynamic Plan HDFC Top 200 Fund UTI Dividend Yield Fund Birla Sun Life Front Line Equity Fund Franklin India Prima C. Mid and SmallCap Funds          Invest Online Reliance Equity Opportunities Fund DSP BlackRock Small & Midcap Fund Sundaram Select Midcap IDFC Premier Equity Fund Birla Sun Life Dividend Yield Plus SBI Emerging Businesses Fund HDFC Mid-Cap Opportunities Fund ICICI Prudential Discovery Fund D. Small and MicroCap Funds   Invest Online DSP BlackRock MicroCap Fund 2.       Franklin India Smaller Companies E. Sector Funds          Invest Online Reliance Banking Fund Reliance Banking Fund ICICI Prudential Banking and Financial Services Fund F. Tax Saver Mutual Funds      Invest Online 1. ICICI Prudential Tax Plan 2. HDFC Taxsaver DSP BlackRock Tax Saver Fund Reliance Tax Saver (ELSS) Fund G. Gold Mutual Funds        Invest Online Relaince Gold Savings Fund ICICI Prudential Regular Gold Savings Fund HDFC Gold Fund Birla Sun Life Gold H. International funds         Invest Online 1. Birla Sun Life International Equity Plan A 2. DSP BlackRock US Flexible Equity 3. FT India Feeder Franklin US Opportunities 4. ICICI Prudential US Bluechip Equity 5. Motilal Oswal MOSt Shares NASDAQ-100 ETF Invest in Tax Saving Mutual Funds Download Any Application Forms Buy Mutual Funds Online Invest Online Buy Gold Mutual Funds Invest Now

Income Tax Slabs for 2012 - 2013 Posted: 11 Feb 2014 02:11 AM PST Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300 Income Tax Rates for 2012 - 2013 We present to you a snapshot of Income Tax Rates for FY 2012-13 along with Capital Gains tax on Mutual Fund redemptions, Dividends treatment and DDT (Dividend Distribution Tax) for Resident individuals and NRIs. I. Income Tax Slab Rates for Individuals: Male/Female less than 60 years’ age INCOME TAX RATE Upto Rs 2 Lakhs NIL > INR 2 Lakhs-INR 5 Lakhs 10% > INR 5 Lakhs-INR 10 Lakhs 20% >INR 10 Lakhs 30% Senior Citizen (60 years and above) INCOME TAX RATE Upto Rs 2.5 Lakhs NIL > INR 2.5 Lakhs-INR 5 Lakhs 10% > INR 5 Lakhs-INR 10 Lakhs 20% >INR 10 Lakhs 30% Very Senior Citizen (80 years and above) INCOME TAX RATE Upto Rs 5 Lakhs NIL > INR 5 Lakhs-INR 10 Lakhs 20% >INR 10 Lakhs 30% II. Dividends Received from Mutual Fund investments: Equity-Oriented Schemes Tax Free Debt-Oriented Schemes Tax Free III. DDT or Dividend Distribution tax: DDT or Dividend Distribution Tax is applicable on debt-oriented mutual fund schemes. The tax is payable directly by the company distributing the dividends and the investor receives the dividend net of such tax payment. Such dividends received are fully tax exempt for investors. Money Market or Liquid Schemes 25%+ 5% Surcharge+ 3% Cess Effective DDT Rate =27.0375% Non-Liquid Schemes 12.5%+ 5% Surcharge+ 3% Cess Effective DDT Rate =13.519% IV. Short-Term Capital Gains Tax: For mutual fund units held for less than 1 year, short-term capital gains tax is applicable as below. Equity-Oriented Schemes 15% + 3% Cess =15.450% Debt-Oriented Schemes As per individual tax slab rate + 3% Cess V. Long-Term Capital Gains Tax: For mutual fund units held for more than 1 year, long-term capital gains tax is applicable as below. Equity Schemes Nil Non- Equity Schemes (listed) [10% without indexation or 20% with indexation, whichever is lower] + 3% Cess [A] Without Indexation =10.30% [B] With Indexation =20.60%           For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call     Leave a missed Call on 94 8300 8300   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 Mutual Funds Online Invest Any Mutual Fund Online   Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund Application Forms ---------------------------------------------   Best Performing Mutual Funds Largecap Funds             Invest Online DSP BlackRock Top 100 Fund ICICI Prudential Focused Blue Chip Fund Franklin India Bluechip ICICI Prudential Top 100 Fund B. Large and Midcap Funds         Invest Online ICICI Prudential Dynamic Plan HDFC Top 200 Fund UTI Dividend Yield Fund Birla Sun Life Front Line Equity Fund Franklin India Prima C. Mid and SmallCap Funds          Invest Online Reliance Equity Opportunities Fund DSP BlackRock Small & Midcap Fund Sundaram Select Midcap IDFC Premier Equity Fund Birla Sun Life Dividend Yield Plus SBI Emerging Businesses Fund HDFC Mid-Cap Opportunities Fund ICICI Prudential Discovery Fund D. Small and MicroCap Funds   Invest Online DSP BlackRock MicroCap Fund 2.       Franklin India Smaller Companies E. Sector Funds          Invest Online Reliance Banking Fund Reliance Banking Fund ICICI Prudential Banking and Financial Services Fund F. Tax Saver Mutual Funds      Invest Online 1. ICICI Prudential Tax Plan 2. HDFC Taxsaver DSP BlackRock Tax Saver Fund Reliance Tax Saver (ELSS) Fund G. Gold Mutual Funds        Invest Online Relaince Gold Savings Fund ICICI Prudential Regular Gold Savings Fund HDFC Gold Fund Birla Sun Life Gold H. International funds         Invest Online 1. Birla Sun Life International Equity Plan A 2. DSP BlackRock US Flexible Equity 3. FT India Feeder Franklin US Opportunities 4. ICICI Prudential US Bluechip Equity 5. Motilal Oswal MOSt Shares NASDAQ-100 ETF Invest in Tax Saving Mutual Funds Download Any Application Forms Buy Mutual Funds Online Invest Online Buy Gold Mutual Funds Invest Now

Income Tax Slabs for 2011 - 2012 Posted: 11 Feb 2014 12:59 AM PST Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300 Income Tax Rates for 2011 - 2012   The budget this year failed to do any drastic changes to tax regime. The changes are more on the extreme ends viz. basic tax limit and for senior citizens. Some of the important changes from last year are as follows: The basic tax exemption limit has been increased to Rs 1,80,000 which will provide tax relief of Rs 2,060 to all tax brackets. For senior citizen the exemption limit has been increased from Rs. 2,40,000 to Rs. 2,50,000/- For senior citizen the qualifying age reduced from 65 years to 60 years. Another major change is introducing a high new tax slab for senior citizens of over 80 years in age (Super Seniors) who will not be required to pay taxes for income upto Rs 5,00,000 The Rs 20,000 exemption limit for investments into Infra bonds stays for this year The Govt is also thinking of doing away with the requirement of filing returns if salary is your only source of income and TDS is being deducted. Here are the Income Tax Slabs/Rates/Brackets after the budget 2011. It will be applicable for FY 2011 – 2012 (or AY 2012 – 2013) Men up to 60 Years         Women up to 60 years Senior Citizen above 60 years in age Senior Citizen Above 80 Years in age         For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call     Leave a missed Call on 94 8300 8300   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 Mutual Funds Online Invest Any Mutual Fund Online   Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund Application Forms ---------------------------------------------   Best Performing Mutual Funds Largecap Funds             Invest Online DSP BlackRock Top 100 Fund ICICI Prudential Focused Blue Chip Fund Franklin India Bluechip ICICI Prudential Top 100 Fund B. Large and Midcap Funds         Invest Online ICICI Prudential Dynamic Plan HDFC Top 200 Fund UTI Dividend Yield Fund Birla Sun Life Front Line Equity Fund Franklin India Prima C. Mid and SmallCap Funds          Invest Online Reliance Equity Opportunities Fund DSP BlackRock Small & Midcap Fund Sundaram Select Midcap IDFC Premier Equity Fund Birla Sun Life Dividend Yield Plus SBI Emerging Businesses Fund HDFC Mid-Cap Opportunities Fund ICICI Prudential Discovery Fund D. Small and MicroCap Funds   Invest Online DSP BlackRock MicroCap Fund 2.       Franklin India Smaller Companies E. Sector Funds          Invest Online Reliance Banking Fund Reliance Banking Fund ICICI Prudential Banking and Financial Services Fund F. Tax Saver Mutual Funds      Invest Online 1. ICICI Prudential Tax Plan 2. HDFC Taxsaver DSP BlackRock Tax Saver Fund Reliance Tax Saver (ELSS) Fund G. Gold Mutual Funds        Invest Online Relaince Gold Savings Fund ICICI Prudential Regular Gold Savings Fund HDFC Gold Fund Birla Sun Life Gold H. International funds         Invest Online 1. Birla Sun Life International Equity Plan A 2. DSP BlackRock US Flexible Equity 3. FT India Feeder Franklin US Opportunities 4. ICICI Prudential US Bluechip Equity 5. Motilal Oswal MOSt Shares NASDAQ-100 ETF Invest in Tax Saving Mutual Funds Download Any Application Forms Buy Mutual Funds Online Invest Online Buy Gold Mutual Funds Invest Now

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