Prajna Capital |
| Posted: 07 Sep 2016 07:15 AM PDT Even low cost ULIPs deduct mortality charges before investing your premium HDFC Click 2 Invest is a low cost ULIP which just charges for mortality risk and fund management, at 1.35 per cent. It invests the rest of the premium. This makes it a very cost effective ULIP. But apart from this, it has all other disadvantages of a ULIP, such as difficulty if comparing or benchmarking performance, lack of liquidity and so on. We don't recommend ULIPs as a rule because it is not advisable to mix your insurance and investments. MFs score over ULIPs on many factors. ULIPs have a 5 year lock-in period and lack the liquidity of open end mutual funds. These are market linked plans and if the plan doesn't perform you should be able to switch to a better fund. They also lack the transparency of open end funds on NAVs, portfolios and fund manager strategies.
Since you haven't completed 5 years, you are right in your view that if you surrender the plan now then the fund value will move to discontinued fund. This will be paid out to you after the 5 year lock-in and after deducting discontinued charges applicable on this plan. The fund value will depend on the NAV of the fund as on the date of surrender.
Though you will make losses upon surrender, it is not wise to continue investing. You can surrender the policy and take the fund value after the lock in period. But invest the future premiums in a investment which gives better returns.
We always recommend pure term insurance plans to buy an adequate life insurance cover. And for investments, you should choose equity mutual funds for long-term goals of five years and above. ------------------------------ 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 ------------------------------ |
| Max Life Future Genius Education Plan Posted: 07 Sep 2016 04:55 AM PDT Max Life Insurance has launched a child plan, Max Life Future Genius Education Plan. It is a non-linked participating plan designed to secure the future of a child by ensuring his or her educational needs are met even in case of unforeseen events. The plan allows for four guaranteed money back options. ------------------------------ 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: 07 Sep 2016 02:29 AM PDT If you are among those yet to receive their tax refund, here's how to check its status. This year, tax refund from the I-T department have been rela tively quicker, thanks to the e verficiation facility. The tax department has processed refunds in three to four weeks for those who e-verified If not, you can track its status on the I-T department's Tax Information Network website. If you verified in the past one month, the refund might be under process and the status should read: "Not Determined". However, if it has been longer, your status should read that your assessing officer ( AO) has sent the refund to your refund banker. Anything else means your refund is stuck. There can be several reasons for it being stuck--from you entering a wrong IFSC code or bank account number to the department not agreeing to your tax calculation or deduction claimed leading to a tax credit mismatch. Wrong bank details entry can be easily corrected online on the I-T website. You just have to update your details via `Refund Re-issue Request' under `My Accounts'. In case of a credit mismatch, you might get a notice (via email) from the department. Here, you might have to file a `rectification'. Rectification under Section 154(1) can be filed for small errors such as mismatch in tax credit, advance tax mismatch, incorrect gender, or additional details not submitted for capital gains at the time of filing return. A rectification does not mean you have to re-file your ITR. However, post rectifying a `mistake', if there is a change in income you'll have to file a revised return. Also, you cannot claim new deductions and exemptions in a rectification request. A common reason for a tax credit mismatch is TDS mismatch. Meaning, the tax credit you have claimed does not match with the TDS entries on your Form 26AS .You must have received a mail from the department explaining the same or you can login to the e-filing website and check for the information under `My Accounts'. If you agree with the mismatch, file a recti fication for the year. If you think there is a mistake in your 26AS, you'll have to get in touch with the respective TDS deductor-the bank or your employer--to get it fixed. Another reason why you might not have revcieved your refund may be because of outstanding tax liability. The assessing officer (AO) has a right to adjust your refund against unpaid dues of previous years. This is allowed under Section 245 of the Income Tax Act. You must have received a notification from the AO on this. Again, you'll have to file a rectification to correct the same. If you are not sure how the tax demand got calculated, or you do not agree with the department, you might need a CAs assistance to file a suitable response. Sometimes, the taxman may also ask for additional details to process your return with refund. In this case, you'll receive an email explaining the information sought. The I-T department has extended the tax verification deadline to 31 January. So, if you missed the earlier deadline, you can still claim your refund, but you will have to mail the signed ITR-V to CPC Bangalore. ------------------------------ 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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