How to Series - Wealth18.com

Oct292017 by wealth18.comNo Comments

How to buy / invest in diamonds through SIP

How to Series

Now , you can invest in Diamonds by investing small amount through SIP option. Like mutual funds and gold funds, you can now buy diamonds in SIP format through ICEX. Indian Commodity Exchange (ICEX) is the world's first diamond trading exchange. Key Features: The ICEX is starting trading in diamond contracts of three different sizes -30 cents, 50 cents and 100 cents (1 carat). The diamond is of HVS2 quality, which is one of the largest-traded quality of diamonds. HVS2 quality, which is one of the largest-traded quality of diamonds. Also, the diamond that investors will receive will be DeBeers certified. You can invest in SIP mode for certain period and take delivery of diamond at the end of term. How to Invest in diamonds at ICEX You need to open an account with broker on the ...

Jul212017 by wealth18.comNo Comments

How to Link Aadhaar number with PAN

How to Series, Taxation

From 1st July 2017, quoting Aadhaar (Aadhaar number / enrolment ID) has become mandatory for income tax return filing and for applying for Permanent Account Number (PAN). The central government has notified that the requirement of quoting Aadhaar for income tax returns filing and application for PAN shall not apply to an individual who is residing in the states of Assam, J&K, and Meghalaya; a non-resident as per the Income tax Act, 1961; of the age of 80 years or more at any time during the previous year; not a citizen of India. All persons who are allotted a PAN as on July 1, 2017 and eligible for Aadhaar, would need to provide the Aadhaar number to the prescribed authority in prescribed form and manner. Recently, the CBDT has introduced intimation procedure through SMS, ...

May142017 by wealth18.comNo Comments

IT dept launches facility to correct PAN or Aadhaar details

How to Series, News

The government, under the Finance Act 2017, has made it mandatory for taxpayers to quote Aadhaar or enrollment ID of Aadhaar application form for filing of income tax returns (ITR).Also, Aadhaar has been made mandatory for applying for permanent account number with effect from July 1, 2017. To link PAN with Aadhar, IT dept has launched online facility, but the details in PAN and Aadhaar needs to be same. Read my post on - How to link PAN with Aadhaar online with/without login. If for some reasons, your details in PAN and Aadhaar are not matching, IT dept has launched the facility to correct these details. Taxpayers can go to www.incometaxindiaefiling.gov.in and click on the link on the left pane-> Links to correct name, [xyz-ihs snippet="ad1"]

May142017 by wealth18.comNo Comments

IT dept launches new simple facility to link PAN with Aadhaar

How to Series, News

The Income Tax Department has made it easy for taxpayers to link their PAN with Aadhaar. Responding to grievances of taxpayers regarding difficulties in linking PAN with Aadhaar their names did not match in both systems (Eg. Names with initials in one and expanded initials in another). the Department has come out with a simple solution now. There is no need to login or be registered on E-filing website. This facility can be used by anyone to link their Aadhaar with PAN. Taxpayers can go to www.incometaxindiaefiling.gov.in and click on the link on the left pane-> Link Aadhaar, provide PAN, Aadhaar no. and ENTER NAME EXACTLY AS GIVEN IN AADHAAR CARD (avoid spelling mistakes) and submit. After verification from UIDAI, the linking will be confirmed. In case of any minor mismatch in Aadh...

May62017 by wealth18.comNo Comments

How to link Aadhar card to PAN online?

How to Series, News

Government has made it mandatory to link Aadhaar card to your PAN before 30 July otherwise, PAN card may be rendered invalid. However, a case is pending in Supreme court to challenge its constitutional validity. To be on safer side, you may want to link Aadhaar card to PAN online - the process is quite simple. Login to Income Tax efiling website - https://incometaxindiaefiling.gov.in/ Under Profile Settings tab - there is an option "Link Aadhaar". You need to enter your Aadhaar number & Name as per Aadhaar The Aadhaar will be now linked to your PAN. If you data is different that what’s mentioned on your PAN, the Aadhaar will not be linked to your PAN. In case your details in PAN and Aadhaar are not matching, you can see how to correct these - Read details in my other po...

May52017 by wealth18.comNo Comments

Online PF withdrawal facility started – Details & Process

How to Series, PF

From 1st May 2017, EPFO has launched facility to apply for PF withdrawal online. Previously, you could check the PF balance and apply for PF transfer online, and now you can withdraw PF online as well. This will be huge benefit for the PF subscribers. Details & Features of online PF withdrawal facility Members will be able to withdraw full PF amount, partial PF amount and pension. The three forms – Form 19, Form 31, and Form 10-C — together form more than 80% of EPFO’s claim workload. Online PF withdrawal can be done only by members who have activated their Universal Account Number (UAN) and have also seeded their Aadhaar-linked KYC. Direct Claims: You can make PF withdrawal claim directly. You donot need to interact with employer or PF Officer. Claims subitted will be proc...

Mar142017 by wealth18.comNo Comments

How to transfer balance from EPF to NPS – Should you transfer?

Featured, How to Series, PF

PFRDA has now notified the procedures (on 6th March 2017) through which EPF members can transfer their PF balance to NPS (New Pension System). In Budget 2016, one of the proposals was to provide one time portability or transfer option from EPF to NPS. In this post, we will focus on procedures to transfer balance from EPF to NPS, current hurdles and whether it makes sesnse to transfer? Requirements and Process for transferring EPF to NPS You need to have a NPS Tier 1 Account. You can open NPS account through employer, banks/entities registered as PoPs, or online through eNPS Portal. You need to submit the transfer form to your employer who will then initiate the balance transfer from EPF to NPS The employee should request the PF/Superannuation fund to issue a letter to his presen...

Mar12017 by wealth18.comNo Comments

[How to] Invest in Mutual funds in India – online / offline options

How to Series, Mutual Funds

Mutual funds are one of the best options for Retail investors to invest their money in different asset classes. It gives benefit of professional management of your money, offers liquidity, allow diversification and tax benefits. A. Quick overview of process to Invest in Mutual funds 1) Submit KYC Form – KYC is must for the first time investors and need to be done ONLY ONCE and valid for all Mutual fund houses. You need to submit KYC form along with the Proof of ID & Address. You can submit it to your nearest distributor, MF branches, authorised banks, CAMS / Karvy offices etc You can download the KYC application form here. Read - New Central KYC process must for new Mutual Fund Investors (Feb 2017). 2) Select a Mutual Fund & Scheme – Depending on your ti...

Feb122017 by wealth18.comNo Comments

Cost Inflation Index for Capital Gain – Base changed in Budget 2017

How to Series, Taxation

In Budget 2017, the base for Cost Inflation Index is changed. lets see what the change is and how it wil impact the investors. Currently, for cost inflation index, the base year is 1981. which means if you have any property acquired before 1981, you need to get the fair market value in 1981 and then apply indexation. Now, with the proposed changed, the base year will become 2001. This means, if you have any property acquired before 2001, you need to get the fair market value in 2001 and then apply indexation. In my other post, I gave details of indexation chart from 1981 till 2017 - Read this [xyz-ihs snippet="ad1"] What is the impact? Property Owners: Experts think that property owners would benefit from this revision in base year. This is because the inflation rate in property market ...

Feb112017 by wealth18.comNo Comments

CKYC – (Central Know Your Customer) mandatory for new Mutual fund investors

How to Series, Mutual Funds

From Feb 1, 2017, new investors in mutual funds will have to do CYKC (Central Know Your Customer) before investing. The CKYC will replace the existing KYC. What is CKYC? Central KYC Registry, or CKYCR, is the new central KYC process that will replace the multiple KYC process exists for various financial transactions, such as opening bank accounts, buying life insurance, and investing in mutual funds. The government has authorised the Central Registry of Securitisation and Asset Reconstruction and Security Interest of India (CERSAI) to manage the CKYC Registry process. What is the benefit by CKYC? CKYC is helpful to move investors to a single KYC platform. Before this, investors were required to complete KYC formalities with multiple agencies for various financial products. All the reco...