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Best ELSS Tax Saving Mutual funds to invest in 2017 – Top Performing

elss-funds

Last updated : 11th February, 2017 Equity Linked Savings Scheme (ELSS) Mutual Funds are one of the popular 80C tax saving options for savvy investors. Quick Overview of ELSS Funds ELSS is a diversified equity mutual fund which has a majority of the corpus invested in equities. There is a lock in period of 3 years from the date of investment. You can remain invested even after 3 years and can withdraw anytime after that lockin. Returns are based on returns from Equity Markets.  Returns from ELSS Schemes are tax free. Based on previous returns, some of the funds has ... Read More »

[How to ] check and respond Income Tax Notice for large Cash deposit

income-tax-notice

Last updated : 11th February, 2017 Income Tax department has launched “Operation Clean Money / Swachh Dhan Abhiyan initiative., to investigate the large cash deposits made after demonitization. They are sending notices to more than 18 lakh people. If you have deposited large cash after demonitoization, the chances are that you will or may already have got a notice from Income Tax. You need to respond within 10 days of getting the message. If you have made large deposit, but have not received any message yet, please check your e-filing account to see if there is any notice for you.  You ... Read More »

Income Tax Rates / Tax Slab for FY 2017-2018 (Budget) AY 2018-2019

tax-slab-rates-india

Last updated : 8th February, 2017 Cheers!!! In Budget 2017, the government has made some positive changes to tax slabs.  – Read the Budget announcement for Personal Taxation Income Tax Slab / Rates applicable in India for Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of Individuals (BOI) Applicable for FY 2017-2018 (AY 2018-2019)   For Individuals below 60 years age (including Woman Assessees) (born on or after 01-Apr-1957)     upto Rs 2.50 Lakh NIL Rs 2.50  lakh – Rs 5 Lakh 5% on amount exceeding Rs 2.50 lakh Rs 5 lakh – 10 Lakh  Rs ... Read More »

Key Highlights Summary of Indian Union Budget 2017-18

summary-budget 2017-18

Last updated : 2nd February, 2017 Key Points & Highlights of Indian Union Budget 2017-18  –  presented on 1st Feb 2017 Personal Taxation  Income tax for individuals for Rs 2.5 lakh to Rs 5 lakh lowered to 5% Individuals having income less than Rs 5 lakh will have to file a return with a one page form. Surcharge of 10% on those with income of Rs 50L to Rs 1 cr Reduction in timelines for revising return of income and completing scrutiny assessments. Read full details on the impact on personal taxes in more details. Fiscal Information India’s FDI increases ... Read More »

Personal Tax Impact – Indian Budget 2017-2018

budget 2017-18

Last updated : 3rd February, 2017 Budget 2017 was unique in the sense that it changed two things the age-old tradition of being presented on the last day of February, this year it was done on 1st of Feb and for the first time in independent India, the Railway Budget was combined with the general Budget. Key Personal Taxation Change 1. Tax Slab changes The rate of income tax is proposed to be reduced to 5% (from 10%) for income between INR 2.5 to INR 5 lakhs. This is likely to bring tax saving of at least INR 12,875 for ... Read More »

Rakesh Jhunjhunwala Latest Portfolio Holdings – Feb 2017

rakesh_jhunjhunwala

Last updated : 2nd February, 2017 Rakesh Jhunjhunwala, 53, India’s most distinctive investor with a net worth of more than USD 1 billion.  He is one of the most famous and respected equity investors in India and manages his own portfolio as a partner in his asset management firm, Rare Enterprises. Son of an income tax officer, he started trading in stocks while in Sydenham college and plunged into investing as a full time profession soon after completing his education. He started his career with $100 in 1985 when the BSE Sensex was at 150. He made his first big ... Read More »

CPSE ETF Jan 2017 Details & Review – Should you invest?

cpse

Last updated : 20th January, 2017 You may have been excited to invest by looking at Reliance Mutual Fund’s new ad – Invest in 10 Maharatnas & Navratnas at 5 % discount! This advertisement is for further fund offer (FFO) of CPSE (Central Public Sector Enterprises) ETF (exchange traded fund). Issue Open : Jan 18 23017 Issue closes: Jan 20 2017 Discount: As part of the FFO, an upfront discount of 5% is being offered to all category of investors. What is CPSE ETF? CPSE ETF is an exchange traded fund based on central public sector enterprises (CPSE) index. It ... Read More »

9.25% Muthoot Finance NCD Issue Jan 2017 – Details & Review

Last updated : 17th January, 2017 Muthoot Finance has opened its public issue of NCDs on 17th Jan 2017. This NCD issue is offering  yield upto 9.25% and have 11 different investment options. Latest NCD issue of Reliance Home Finance (22nd Dec 2016) was over-subscribed 3 times the issue size on day one itself. NCD issue of SREI Equipment finance was subscribed in 4 days only. In this post, I am trying to put details around how good this Muthoot Finance NCD is ? What are the postive and negative factors of Muthoot Finance NCD? Who should invest in Muthoot ... Read More »

How NRIs can exchange old Rs 500 / 1000 notes or convert / deposit them?

nri

Last updated : 17th January, 2017   Latest Update: RBI has extended the facility for NRI to deposit old notes at designated RBI offices by June 30 2017. Under new facility, NRI can carry upto Rs 25000 (as per relevant FEMA regulation) via declaring them to customs and deposit it into RBI offices at in Mumbai, New Delhi, Chennai, Kolkata, and Nagpur. NRI travelling to India should go through the “red channel” at the airport, fill one page declaration form. A stamped document will be issued by Customs detailing the number of notes, date etc. Documents required to be submitted at ... Read More »

How to open Airtel Payment Bank Account- 7.25% Savings Account Interest

airtel-bank

Last updated : 17th January, 2017 Jan 2017 Airtel has now rolled out its payment bank across India.  If you want to earn its attractive 7.25% interest, you can open an account.  You donot need to submit any kind of documents as it is a paperless approach, using Aadhaar-based e-KYC.  Anybody who is an Airtel user, having an Aadhaar card, PAN card and carrying a smartphone with Internet connectivity can become a member of Airtel’s Payments Bank and earn an interest of 7.25% p.a by depositing a maximum of Rs.1 lakh. Here are the steps for you to open an ... Read More »

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