Prajna Capital |
| Sundaram Balanced Fund Dividend Posted: 27 Jul 2016 04:51 AM PDT Sundaram Mutual Fund has declared dividend on the face value of Rs.10/- per unit on the record date of June 17, 2016 under the dividend option of Sundaram Balanced Fund. Dividend declaration details are as under:
----------------------------------------------- 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 Saver 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 ----------------------------------------------- | ||||||||
| Unit Linked Endowment Plan tax Posted: 27 Jul 2016 04:22 AM PDT If you have completed 5 years, there will be no taxation on surrender of your LIC Endowment Plus Unit Linked Plan. The entire surrender amount will be tax free. ----------------------------------------------- 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 Saver 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 ----------------------------------------------- | ||||||||
| Posted: 27 Jul 2016 03:14 AM PDT It is time again to evaluate all your earnings of the previous financial year (FY)-1 April 2015 to 31 March 2016-and file your income tax returns (ITR) accordingly. If there are any taxes left, after taking into account tax deducted at source (TDS) and advance tax paid, those, too, have to be paid. Similarly, if excess tax was deducted, make sure you claim a refund. To do all this work, you have till 31 July-almost a month. However, it is better to do the needful as early as possible. By now, salaried employees would have received their Form 16 from the employer, apart from income and TDS proof from other sources. As per the income tax rules, an employer has to give employees their Form 16 by the end of May. Filing tax returns can be an easy process if you know what to do. Read on to find the details that are relevant to you-which forms to fill, how to file offline and online, and more. Types of ITR forms After you have understood what your income was in the previous year, it's time to file the tax returns so that you can pay any taxes that may still be due, or claim for refund, or neither of these two. The first step would be to find which form you need to use to file the tax return. There are different types of ITR forms applicable to income tax assessees, based on the nature of income one has. (See table: Which ITR form is for you.) For instance, if during the previous fiscal, your income source was only salary, then you need to file return under form ITR1. If you generated income from sources besides salary, say, from a house through rental income, or as interest from a fixed deposit, then also you can use ITR1. If, along with salary income, you earned from capital gains, you need to file your returns using ITR2. Therefore, before you jump into filing your tax return, identify the sources of income and accordingly choose the relevant ITR form. If you use the wrong form, the return will be rejected. In order to identify your incomes, or even to file your return, you need to have various documents (See table: Checklist of documents). Once you have all the necessary documents, you can think about how to file. Over the years, most income tax related work has become electronic-be it filing returns, paying taxes, obtaining TDS certificates or getting access to various types of information. However, the offline format has not been stopped so that even those with low incomes can file their tax returns offline.
  New points to consider
In 2015 Budget, a few deduction limits were increased and some new ones were introduced. Tax deduction under section 80D of the Income-tax Act, 1961, against health insurance premium or preventive health check-ups was increased from R15,000 toR25,000. For senior citizens, this went up from R20,000 toR30,000. An additional deduction of R50,000 was introduced under section 80CCD for investments in National Pension System (NPS). This was over and above the standard limit of R1.5 lakh under section 80C.
The new ITR forms provide a specific space to claim the deduction under investment made in NPS. Take note of that space while filing tax returns if you have made this investment.
Also, whether filing on your own or with the help of a service provider, don't forget to claim tax collected at source (TCS), if any. TCS at the rate of 1% is collected from taxpayers when they purchase jewellery in cash exceeding R2 lakh in value. Credit of TCS can be claimed against the total tax . Credit for TCS can now be claimed via ITR-1, ITR-2 and ITR-2A. Earlier, it was not present in these forms
Complete the process
Once you e-verify the return, take a printout of the acknowledgement. The process is now complete. Save a copy for your record. If the return is not digitally signed, then generate the ITR-V Form, sign it and mail it to the income tax processing centre in Bengaluru, either by ordinary post or speed post, within 120 days of e-filing the return.
The process of tax filing has become easier over the years-online processes have been introduced; you no longer need to attach documents to the ITR; and many documents are available online. Now you have about a month's time to make use of these features and file your income tax return. ----------------------------------------------- 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 Saver 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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