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| Posted: 28 Sep 2016 04:36 AM PDT Invest Online ICICI PRU SELECT LARGE CAP This large-cap fund stands out because of its highly focused approach to stock selection. It runs a compact portfolio of just 14 stocks, while remaining true to its label with its strict large-cap focus. Unlike peers, it has an aggressive approach to outperforming the benchmark. Over the years, the fund has built a healthy track record of outperforming peers. A trigger-based fund in its earlier avatar, it continues to allow investors a trigger-based automatic rebalancing tool into one of the pre-selected schemes as a profit-booking mechanism. Those comfortable with a focused strategy in the large-cap space may consider this fund, others may prefer its sister fund ICICI Pru Focused Bluechip which has a more diversified approach and a better risk-return profile.  ------------------------------ 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. Religare Tax Plan 4. DSP BlackRock Tax Saver Fund 5. Franklin India TaxShield 6. ICICI Prudential Long Term Equity Fund 7. IDFC Tax Advantage (ELSS) Fund 8. Birla Sun Life Tax Relief 96 9. Reliance Tax Saver (ELSS) Fund 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: 28 Sep 2016 02:55 AM PDT Tax benefit on different types of loansDid you know that you can claim tax deduction on loans depending on where the money is being utilised?
 When you take a loan, you need to repay it along with the applicable interest rate. But did you know that you can claim tax deduction on loans depending on where the money is being utilised? Here is how. Home Loans The equated monthly instalment (EMI) of a loan has two components- principal and interest. You can claim tax deduction against the principal repayment and payment of interest of the loan. These components qualify for tax deduction under two separate sections of the Income-tax Act, 1961. Under section 80C of the income-tax Act, you can claim the principal repayment amount, and the interest repayment amount can claimed under section 24(b). If you have taken a home loan for purchase of a house, the tax exemption limit on the interest amount differs depending on the occupancy. If you have taken a loan on a self-occupied house, the amount is capped at R 2 lakh. If the house is let out, there is no cap on the interest amount that can be claimed. Do remember that you can only claim a tax benefit once the property is complete. If you buy an under-construction property, you cannot claim the deduction till the property is fully constructed and you get possession. Personal Loans If you have taken a personal loan and it is used to purchase a house, you can claim tax benefit on it as well. Tax laws do not define loans the way banks do; tax laws only consider the purpose of the loan or what it is utilised for. So, the tax laws that apply to home loans will be applicable to a personal loan that is used to finance the purchase of a house, including its down payment. Just like in a home loan, you can claim deduction for the interest payment under section 24(b) and principal repayment under section 80C. As proof, you need to have the interest payment certificate and bank statement. Education Loans If you have taken a loan to pursue higher education, the interest repayment is tax deductible under section 80E. Higher education includes any course pursued after the senior secondary examination or its equivalent from a recognised school, board or university or any other authorised authority. The loan can be taken for yourself, spouse or children. And it has to be availed from a bank, or financial institution, or an approved charitable institution. Do keep in mind that unlike in a home loan or a personal loan taken to buy a house, the principal repayment of an education loan will not qualify for tax benefits. But you can claim deduction for the entire interest paid for the first eight years or until the interest is fully paid, whichever comes earlier.
------------------------------ 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: 28 Sep 2016 02:16 AM PDT Recurring Deposits Online
Recurring Deposits combine regular investing with guaranteed returns - making them an attractive option for risk averse investors The recurring deposit (RD) is one of the most basic financial products available it the market. It can be used as a tool to inculcate the habit of saving.
What is a recurring deposit?
There are two types of RDs-regular and flexible.
A regular RD is offered by all banks, while only some offer flexible ones. A regular RD allows you to deposit a pre-specified amount at pre-decided intervals. It becomes a compulsory investment. The instalment amount once fixed, cannot be altered. For instance, if you sign up with a bank to invest R1,000 every month for 12 months in a regular RD, you will have to invest the specified amount at a fixed date every month. In a flexible RD, you can deposit any amount, on any day, and any number of times. Other than visiting the branch to open an RD, nowadays many banks allow you to open using the Net banking facility as well.
How does it work?
In a regular RD, in case of delayed instalments, a penalty is charged as a flat fee or a percentage of the amount. For instance, with ICICI Bank Ltd, the depositor is liable to pay monthly interest at the rate of R12 per R1,000, and it depends on time and the amount. If you withdraw the amount before the maturity date, you will have to pay 0.5-2% as penalty, depending on the tenure. You cannot withdraw partially.
Some banks allow you to take a loan against the deposit. Generally, the loan amount can be 75-90% of the deposit value. For instance, State Bank of India allows you to take a loan of up to 90% of the deposit amount at an interest of 0.5% per annum above the interest rate of the RD.
What should you do?
However, you should know that since RDs come under the definition of time deposits, the interest earned will attract tax deducted at source (TDS). So, TDS will be applicable if the interest earned on the RD (or if you have more than one with the same bank) exceeds R10,000. If you come below the income tax bracket, you can avoid the TDS by filing Form 15G or 15H. ------------------------------ 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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