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Jan12014 by wealth18.comNo Comments

NRI – How to claim Income Tax refund

NRI, Taxation

Any interest earned in NRO Account is taxable and TDS of 30% flat is deducted by the Bank. There are few ways by which you can reduce this tax amount. 1) Check for DTAA - If the DTAA between India and country of your residence allows a lower rate of TDS India has Double Taxation Avoidance Agreement (DTAA) with many countries under which a lower rate of tax is deducted. For e.g. if you are residing in US or UK, a concessional rate of 15% will de deducted (instead of 30%) provided you complete the documentation formalities. You will need to submit : PAN Card Copy DTAA Declaration form Original or certified true copies of the ‘Tax Residency Certificate’ (TRC) from the income-tax authorities. For tax residents of countries where there is no income tax, a “Self-declaration” shall be su...

Jan12014 by wealth18.comNo Comments

Type of Life Insurance Policies – You must know

Insurance

Objective of this article To briefly explain the Life Insurance in India and Insurance companies available To briefly explain the type of insurance policies available and their key features Should you take a Life Insurance Policy? Have you secured your family in case something happens to you? If not, you should consider taking a Life Insurance Policy. What is Life Insurance? Life insurance is a policy which helps beneficiaries financially after the policyholder dies. It is a contract between the policy holder (you) and the life insurance company, which assures the paying out of a certain amount in the event of the policy holder's death / terminal / critical illness. The premium of life insurance is dependent on your age, type of coverage, amount of coverage you need. Life Insurance ...

Jan12014 by wealth18.comNo Comments

Top 10 Reasons to Invest via Mutual Funds

Mutual Funds

Mutual funds are one of the best options available to small retail investors to diversify their investment and earn superior returns. Through Mutual Funds, you can invest in various types of products - for e.g. Equities, Bonds, Fixd Income, Gold, Commodities companies, Index etc. In this post, I have tried to list some major benefits of investment in mutual funds 1) Professional Expertise As we can’t be experts in everything, so it is better to leave certain things with professionals. Fund managers are highly qualified & experienced, track the market activities closely, speak to company management on on-going basis, understand the economic & sector indicators better and are in better position for investment decision making. For e.g. Prashant Jain of HDFC Mutual Fund is...

Jan12014 by wealth18.comNo Comments

How to use Sweep-in facility in HDFC bank via netbanking?

How to Series

In my other post,I explained How you can earn upto 9% on your savings bank account using Auto sweep / sweep-in facility (Read Full Post). In this post, I have provided step-by-step guide to use the sweep-in facility in your HDFC Bank Account via NetBanking. HDFC Bank provides this facility to all its customers who have NetBanking facility. (holding pattern should be SINGLE & not Joint). I have savings account with HDFC bank and it is very simple to use this facility. Step 1: Go to “Fixed Deposit” Section – Open Fixed deposit Enter – Nature of Deposit – Reinvestment of Interest Step 2: Activate Sweep-in on this FD Once the FD is made online, then go to Option – “Fixed Deposit Sweep-in” and enable the Sweep-in on that FD. It will allow sweep-in the amount from this FD to Sa...