Tax planning implies the spelling out of financial goals, where by the financial goals are aligned according to the tax liabilities and taxation is managed in a legal and systematic manner. Before planning tax liability it is important that the taxpayer studies a few basics. Every taxpayer shall go through Section 80C for getting acquainted with tax planning with schemes like ULIPS, Life Insurance Premiums, National savings certificates (NSC), Post office savings etc. Maintain A Separate HUF Tax File The first step in tax planning is maintaining a separate HUF tax file (if the tax payer is a Hindu), apart [....read more....]

The SEBI (Securities & Exchange Board India) says that taxes levied on a person’s annual income are exempted if he/she makes an investment in tax saving mutual funds. But should tax saving be the only criteria for deciding the mutual fund one should invest in? And how viable it is to rely on such funds for good returns? Let’s find out. Investment Should Be Goal Oriented Not Just For Tax Saving There is no doubt that if you are an investor and if you have invested in any kind of tax saving mutual fund you will get some rebate at [....read more....]

Today we are discussing some of the less known facilities offered by banks to there customers. Knowing these facilities can help you during some urgency like you want your Cheque gets credit in your bank account immediately or you want to withdraw more then the available balance from your saving bank account. So lets have a look at some less known facilities available to you as a bank customer. Cheque Purchase Facility Suppose, you have an account with ICICI bank and you receive a Cheque drawn in your name but of some other bank (say AXIS bank) . Then what will you [....read more....]

Tax saving Fixed Deposit is one of the safest ways of saving tax. As name suggest, tax saving FD’s offers tax exemption to the investors under section 80C of the income tax act 1961. In other words, tax payers can invest under tax saving FD’s to avail tax exemption upto Rs 1 lakhs u/s 80C. Investors can invest in tax saving FD’s either by going to bank branch or using banks online platform. So if do internet banking then you can create your tax saving FD anytime anywhere. This is considered as one of the best investment option as it [....read more....]

Saving tax is one of the most common incentives behind the investments, most of the individuals do every year. But not all tax saving schemes are profitable to a good extent. There are variety of options and investment instruments which provide tax benefits under various sections of income tax act. Different schemes and options deliver different returns, while sum are low risk low return like the tax saving FD’s others are high risk high return like ELSS etc. In past we have shared a number of options with you which you can refer in our previous articles. Now we want [....read more....]

- Finance minister of India, P Chidambaram has started his budget speech for the year 2013 –14 in Lok Sabha. – This is Chidambaram’s 8th budget speech. – This is last union budget before elections. - There is need to encourage Foreign Investment in India. – Current account deficit is a big concern. – 17% hike in allocation to Education to promote youth skills for jobs. - Rs 33,000 Cr allocated to MNNREGS. – Rs 27,049 Cr to Agricultural ministry. – 4% farm loan scheme extended to private sector banks of India. – Allocation of Rs 1000 Cr to eastern [....read more....]

American Express has launched an online service with the name ‘ezeClick’ to facilitate its customers. As name suggest this service helps customers make there online payments using their credit cards quite easily. ‘ezeClick’ is a unique product which is launched in India for the first time by a credit card company. ezeClick takes all your credit card details once i.e at the time of registration and simplifies the checkout process by replacing the need to enter your card details every time with a single user ID. Which simply means ezeClick eliminates the cumbersome process of entering card number, expiry date [....read more....]

The rate of interest on Employee Provident Fund (EPF) and Voluntary Provident fund (VPF) has been revised by EPFO. The rate of interest has been raised from 8.25% to 8.5%. This new rate of interest will be applicable on both EPF and VPF for the year 2012-13. In the year 2010-2011, this rate was reduced from 9.5% to 8.25% which was a major reduction in interest rate. Although the expectations were little higher but it is kept 8.5% to avoid deficit. But increase in interest rate is no doubt a great news for all most 5 Crore people who are [....read more....]

Rail Budget 2013-14 will present today February 26, 2013 by Finance Minister Pawan Kumar Bansal in Lok Sabha. – 11:15 A.M Railway Minister Pawan Kumar Bansal has reached Parliament. – 11:59 A.M Countdown has began, few more minutes left for Rail Budget 2013. – 12:00 Live from Lok Sabha. – 12:10 P.M Some major Rail stocks before Rail Budget speech begin- Hind Rectifiers – 4.8% Down Stone India – 3.0% Down Kalpataru Power – 2.9% Down Tata Steel – 2.2% Down Titagarh Wagon – 2.0% Down Zicom – 4.3% Up BEML – 3.0% Up CEBBCO – 2.8% Up Concor – [....read more....]

If you are a Home loan borrower or planning to take one then this article may be a great help for you. Buying a house is a dream of lakhs of people in our country and to fulfill this dream people land up taking Home Loan. Bank make an EMI of your loan that you as borrower have to pay till the amount i.e principal + Interest exhaust. After paying EMI of loan and fulfilling the daily needs of family members, you must not get to save substantial amount out of your salary. In such situation ‘What if you get [....read more....]