Prajna Capital |
- Tips to save Income tax for Salaried Person
- Retirement Planning is not only about Money
- What is Disinflation?
| Tips to save Income tax for Salaried Person Posted: 05 Oct 2016 04:52 AM PDT Maximising your Tax saving 1. Exemptions/reimbursements – Identify the reimbursements available from the company and take maximum advantage of the same. Normal expenses that one incurs could help save tax. Example- Telephone/fuel reimbursements, meal vouchers and company car. A person in lower tax slabs can reduce his tax liability to nil with exemptions alone. Similarly, salaried employees staying in rented apartments can claim exemption under Section 10(5) of the Act in respect of house rent allowance by making the HRA a component of there salary. Some of The Popularly Known Exemptions/Reimbursements Minimum of – 1. Actual HRA 2. Rent Paid – 10% of Basic 3. 40a% of Basic (Non-Metros) or 50% of Basic (Metros) House Rent Allowance (HRA) Taxability & calculation Transport Allowance Rs 800 / Month (1600 Per Month from A.Y. 2016-17) Leave Travel Allowance Two trips in a block of 4 Yrs Amount not exceeding Air Economy or Rail AC I Fare shall be for shortest distance and for a single destination Taxability of Leave Travel Allowance (LTA) – Section 10(5) Medical Reimbursement – Section 17(2) proviso Up to Rs. 15,000 in aggregate in a year 2. Deductions Section 80C allows a maximum limit of Rs 1.50 lakh across investments ranging from provident fund, PPF, infrastructure bonds, fixed deposits (5 years or more), Sukanya Samriddhi Account, NSC, insurance/pension plans, unit linked insurance, equity linked savings scheme etc. It also includes tuition fees of your children and the repayment of principal on your housing loan. Deduction under section 80C and Tax Planning ------------------------------- 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 ------------------------------ | ||
| Retirement Planning is not only about Money Posted: 05 Oct 2016 03:58 AM PDT Besides building a corpus, it is essential to prepare for a post-retirement social life. When people think about retirement, it tends to be in financial terms. The main consideration is whether or not there will be enough money to live on when they stop working. A related concern is finding a plan that allows them to accumulate a retirement fund. HSBC's recent Future of Retirement survey found that the current generation of retirees in India generally regretted not saving early enough in life, and they wished they had saved more. The survey also found that those who are now preparing for their retirement expect to save for at least six more years than the previous generation. Starting to save early is perhaps the most common piece of advice when it comes to retirement. Incremental investment returns accumulated over a long period of time can grow into a substantial sum of money, but the earlier you start, the more pronounced the effect. Of course, having sufficient funds is key to a comfortable retirement. But, at the same time, we know that money does not necessarily buy happiness. Imagine a senior executive who has worked hard in a company over many years. He not only wielded a position of authority in the organisation, but was also treated respectfully by colleagues. His job is a major contributor to his self-worth. For someone like him, retirement can be quite a sharp change. He may have enough money to maintain his current lifestyle, but no longer enjoys the benefits of employment--seniority, productivity and interaction with clients and co-workers. The loss of all these things can make retirement feel like a forced redundancy for some people, rather than a natural progression in life that comes with age. This can result in a damaged sense of purpose. When this happens, there is a tendency among some retirees to just accept their lot and make little or no effort to improve their mood; old age is something to be endured rather than enjoyed.The newly retired who find themselves in this situation should resist despondency by being open-minded and proac tive about how best to meet both their financial and psychological needs. For example, a retiree might take a bridge job that allows them to gradually shift away from full-time employment. The growth of the so-called gig economy is a major development in employment that could provide attractive opportunities to older workers. In addition to providing a meaningful activity, a part-time job also brings in a regular income that can supplement retirement savings. Another consideration is to nurture a range of interests other than work, cultivate relationships with family and friends, or find activities that can keep them busy at the end of their employment. These can provide continuity of purpose and activity in retirement, a contributor to satisfaction in old age that ranks alongside financial stability and good health in importance. ------------------------------ 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 20161. 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: 05 Oct 2016 02:18 AM PDT Prices don't fall during disinflationary periods, they just don't rise as much. Prices are still rising in the Indian economy, though the pace has slowed down. This means, India is currently witnessing disinflation: the price rise has slowed down significantly as compared to, say, 2 years ago. Unlike deflation, disinflation is considered a positive sign and capital markets, especially the bond markets, tend to react positively to it. But disinflation without economic growth can be a cause for worry. If inflation slows down quickly, and is not accompanied by a faster growth of gross domestic product (GDP), it could lead to a slowdown of economic growth, followed by falling productivity and rising unemployment. ------------------------------ 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 20161. 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 ------------------------------ |
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