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| Tax Saver Mutual Funds of 2016 FAQ Posted: 07 Jan 2016 04:07 AM PST Tax Saving Mutual Funds
Q. How do I make payments towards the mutual fund? A. Payments towards mutual funds can either be made by cheque or by direct debit. The most convenient option, if you have opted for an SIP, is to go for the direct debit wherein the mutual fund provider will directly debit the SIP amount from your account every month once you give them the permission to perform electronic clearance. Q. When should I pay for my SIP? A. When you apply for the the SIP you will be informed of the dates on which payments can be made. You can select one of those. For example, if you have invested in ICICI mutual funds, you will be able to make the payments either on the 1st of the month, on the 10th of the month or towards the end of the month, based on your convenience. Q. Is there a minimum investment required for ELSS? A. Yes. The minimum investment amount will depend on the mutual fund provider but in general it can be about Rs. 5,000. Q. What is NAV? A. NAV of Net Asset Value is the price of each unit at that date in time. When a request for withdrawal is submitted, the number of units available for withdrawal are multiplied by the NAV and the resulting amount is credited to the investors acount. Q. How is NAV calculate? A. The NAV is calculated by subtracting liabilities from the total asset value and dividing it by the number of outstanding shares. Q. The amount that I got was less than what the NAV promised when I checked the statement. How is that possible? A. The NAV can change everyday, therefore, when a request for a withdrawal is made, the NAV taken into account is that of the day that the request is processed and not of the date of issuing the statement. Q. Does a high NAV mean the fund is good? A. No. A high NAV does not necessarily mean that the fund is a good one. A good way to figure out if funds are good or not is to see the historical returns the funds have provided and check its rating with credit rating companies like CRISIL. Q. Should I invest in a lump sum or in instalments? A. That is a choice left to the investor as both styles of investment are allowed in mutual funds. The advantage of investing in monthly instalments is that the risk of loss through market performance can be avoided on the entire investment. Q. What is the maximum amount that can be invested in these funds? A. There is no upper limit on how much can be invested in these funds. Q. What is the maximum amount that can be withdrawan? A. The maximum amount that can be withdrawn is determined by the NAV and the number of units available. Q. What is the minimum amount that can be withdrawn? A. The minimum amount that can be withdrawn may depend on the company offering the fund but it could be about Rs. 1,000. Q. If I invest Rs. 2 lakhs in a tax saving mutual fund in a year, can i claim tax benefits for the entire investment? A. No. You can claim income tax benefits only up to Rs. 1 lakh to 1.5 lakh in ELSS. Q. How much tax will I have to pay on my long term capital gain? A. Long term capital gains from ELSS funds are exempt from taxes. Q. Can I switch from one fund to another? A. Yes, you will be able to switch between funds but only a part of the investment can be switched not the entire amount. Q. How do I know where the money is being invested? A. If you want to know exactly how the money is being investment then you can ask for the portfolio for that particular scheme and it will show you a detailed breakup of what will be invested where. These portfolios are also available on the mutual funds website. Q. Can I withdraw in the lock-in period? A. No. Once an investment is made, it cannot be withdrawn till the lock-in period is over. Q. Can an NRI invest in ELSS? A. Yes, NRIs can also invest in tax saving mutual funds. 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 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 | ||||||
| Posted: 07 Jan 2016 03:52 AM PST Senior Citizen RDIf option for "Senior Citizen" is selected by the customer and age of customer is 60 yrs. or above, additional rate of interest are offered to them and this will be issued on the date of creating the Recurring Deposit, as per date of birth recorded with the Bank. For additional rate of interest for senior citizens, the minimum tenure and minimum amount which is applicable will be set as per the Bank's policy. On an average, senior citizens enjoy 0.50% more interest than regular customers. Invest Rs 150000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds There are a lot of mutual funds that customers can choose from but some of the best Tax Saver mutual funds in India right now are: Top 10 Tax Saver 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 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 | ||||||
| Reliance Dual Advantage FTF dividend Posted: 07 Jan 2016 03:29 AM PST Reliance Dual Advantage - Invest Online Reliance Mutual Fund has announced dividend under the following schemes:
The record date has been fixed as January 06, 2016. ----------------------------------------------- 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 2016Best 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 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 ----------------------------------------------- |
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