Prajna Capital

Mirae Asset Tax Saver Fund
NPS vs EPF Tax Benefits
Sukanya Samriddhi Vs PPF

Posted: 20 Jan 2016 04:01 AM PST

Mirae Asset Tax Saver Fund - Invest Online

-----------------------------------------------

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds
Top 10 Tax Saving Mutual Funds to invest in India for 2016
Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund
2. Axis Tax Saver Fund
3. Franklin India TaxShield
4. ICICI Prudential Long Term Equity Fund
5. IDFC Tax Advantage (ELSS) Fund
6. Birla Sun Life Tax Relief 96
7. DSP BlackRock Tax Saver Fund
8. Reliance Tax Saver (ELSS) Fund
9. Religare Tax Plan
10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online
Invest Online
Download Application Forms
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
---------------------------------------------
Leave your comment with mail ID and we will answer them
OR
You can write to us at
PrajnaCapital [at] Gmail [dot] Com
OR
Leave a missed Call on 94 8300 8300

-----------------------------------------------

NPS vs EPF Tax Benefits

Posted: 20 Jan 2016 03:25 AM PST

NPS and EPF Difference

NPS and EPF are considered to be the best retirement saving options in India. However there are few difference in terms of returns, eligibility, premature withdrawal and other features. So here are the difference between NPS and EPF.

Launch Year: NPS was launched in the April 2009. Whereas EPF was launched in March 1952.
Eligibility: EPF is only for salaried employees whereas in case of NPS any individual can invest in it. However citizen can start investing in both from 18 years upto the age of 60 years.
Investment Cost: Investing in EPF doesn't cost anything. But in case of NPS, a small fund management fee is involved which varies for government employees (which is 0.0102%) and those who are employed in the private sector (0.25%).
Contribution: In EPF, employee's contribution is at least 12% and equal amount is contributed by the employer. So the total investment is 24% from the basic salary of the employee. But in case of national pension scheme, minimum investment should be INR 6000 in a year and there is no limit on maximum contribution. And minimum one contribution should be made in a financial year.
Lock-In Period: NPS has lock-in period till 60 years but for EPF there is no lock-in period.
Premature Withdrawal: NPS allows premature withdrawal but only under certain terms and conditions for tier-I & II accounts. Under tier-I, no withdrawals are allowed without foreclosures. In case of death of the account holder, nominee can withdraw all the money at once. When an individual's age is between 60 and 70 years, up to 60% can be withdrawn and remaining 40% should mandatorily used for buying annuity from approved life insurers. Whereas only 20% can be withdrawn and 80% should be used for buying annuity from approved life insurers, if investor wants to withdraw money before he/she reaches the age of 60 years Similarly EPF allows only in case of specific purpose such as children's marriage or education.
Returns: For the year 2012-2013, NPS offered higher returns (12%-13%) than EPF whereas EPF offered interest rate of 8.75%. However since the interest is variable in case of NPS, experts always consider EPF as a safe avenue even though it assures fixed returns.
Tax Benefit: Through NPS citizens can claim tax deductions under the section 80C, 80CCF and the newly introduced section 80CCD(2). But it is the duty of the employer to invest in the section 80CCD(2) which benefits employees in additional tax savings. Up to 10% of an employees salary can be invested in NPS which is tax deductible. EPF investments qualifies for deduction under section 80C.
Where is the money invested: Money collected through EPF is invested in government bonds or securities. Whereas NPS is allowed to invest 50% in equities.

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

Leave a missed Call on 94 8300 8300

Sukanya Samriddhi Vs PPF

Posted: 20 Jan 2016 02:47 AM PST

ukanya Samriddhi Yojana under the Beti Bachao Beti Padhao mission is gaining lot of interest and parents are rushing to open account for this savings scheme for their girl child. Although there are many long term savings scheme in India, public provident fund is one of them and people are distinguishing SSA with PPF since they are very similar. However there are many differences between both these schemes. So let's checkout how Sukanya Samriddhi Account and Public Provident Fund differ:

Sukanya Samriddhi Yojana Vs. Public Provident Fund (Differences & Similarities)

SR.NO	FEATURE	SSA	PPF


1	Objective	Financial security to the girl child, Tax deduction on deposits and assured returns	Assured return and tax benefit
2	Who is eligible to open the account	Girl child	Any resident Indian
3	Minimum entry age limit	Right from the birth of the girl child	No age limit
4	Maximum entry age limit	Only for girls aged 10 years or less from the date of birth.	No age limit
5	Interest rate (2014-2015)	9.1%	8.70%
6	Minimum investment (yearly)	Rs.1000	Rs.500
7	Maximum investment (yearly)	Rs.1,50,000	Rs.1,50,000
8	How many times deposits are allowed in a financial year:	No limit (monthly or yearly)	12 deposits
9	Tenure (from the date of opening of account)	Minimum 14 years	Minimum 15 years
10	Maturity (from the date of opening of account)	21 years	15 years
11	Where can accounts be opened:	Post offices and banks, 28 authorized banks	Post offices, SBI & it's associates, private and nationalized banks who are permitted to collect direct taxes
12	Mandatory documents for account opening:	Account opening form, birth certificate of the girl child. Residential and ID proof of the natural parents	Account opening form, 2 passport sized photographs, Address and ID proof
13	Payment Mode	Cash/Cheque/Demand Draft	Cash/Cheque/Demand Draft & Online payment can be done at SBI and ICICI bank
14	Conditions for premature withdrawal	50% allowed. To be used for girl's education or marriage. Condition is that girl should be 18 years at that time	Allowed only when account holder dies
15	Can we continue investing after maturity	Yes (If account is not closed, interest will be received on the balance)	Yes (Extendable in a block of 5 years)
16	Launch date	02December2014	01July1968
17	Loan Facility	Not Available	Available, from 3rd year till 6th year
18	Nomination facility	No	Yes

Although SSA and PPF are different, there are many similar features in Sukanya samriddhi scheme and public provident fund as follows:

SR.NO	FEATURES	SSA & PPF
1	Type of investment	Both are long term savings instrument with zero risk as they offer guaranted tax free returns
2	Interest rate - Fixed or Floating	Both carry floating interest
3	Who decides interest rate	Central government decides interest rate every financial year before 1st April
4	Income tax benefit	Both SSA and PPF are tax exempt under section 80C. i.e. investments and returns are non-taxable
5	Is premature withdrawal possible?	Yes. Please check the conditions above
7	Can you open multiple accounts for one person	It's not possible under any of this scheme
8	If contribution is not made what is the penalty	Rs.50
9	Type of Interest Earned	Compound interest
10	Interest earned monthly/yearly	Yearly