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These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

HDFC TaxSaver
ICICI Prudential Tax Plan
DSP BlackRock Tax Saver Fund
Birla Sun Life Tax Relief '96
Reliance Tax Saver (ELSS) Fund
IDFC Tax Advantage (ELSS) Fund
SBI Magnum Tax Gain Scheme 1993
Sundaram Tax Saver

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Application form for Tax Saving Infrastructure Bond and more information

Submit filled up application Collection canter near you

------------------------------------------------
How to apply to REC Bonds?

Apply for REC Tax Free Bonds forms below

Submit the filled up form to Collection canter near you

Extra tax benefits from long term infra bonds - Section 80CCF

THE government of India in the Finance Bill of 2010 announced a tax relief on an investment up to Rs 20,000 in notified "long term infrastructure bonds" under Section 80CCF of the Income Tax Act, 1961 (the Act). The benefit, initially introduced for the financial year 2010–11, was extended to the financial year 2011–12 as well. The deduction under this section is over and above Rs 1,00,000 available to individuals under Section 80C of the Act for investing in provident fund, national saving certificates (NSC), life insurance premium, repayment of the principal amount of home loan to name a few.

An important point to note is that, while there are a large number of bonds available for individuals to purchase from the various financial institutions, only the notified long-term infrastructure bonds are eligible for deduction under Section 80CCF of the Act.

As notified by the government, these bonds can be issued by IFCI, LIC, IDFC, IIFC or a nonbanking finance company (NBFC) classified as an infrastructure finance company by the Reserve Bank of India (RBI).

It is mandatory for the individuals to furnish their PAN (permanent account number) to the issuer while investing in such bonds. Deduction under Section 80CCF through investments in tax-saving infrastructure bonds is available to individuals and hindu undivided families (HUFs) for the year in which the bonds have been purchased. There is no tax benefit from the next year onwards.

Taxability of interest: The fixed rate of interest income that individuals will receive on the notified long-term infrastructure bonds is taxable as `income from other sources' in the hands of the individual.

Maturity of the bonds: As the name suggests, these infrastructure bonds have a `long' term maturity period not less than 10 years. The premium received at the time of maturity of the bond is liable to tax.

Some financial institutions selling the bonds offer a differential rate of interest depending on the lock-in period of lock-in period of the bond, that is, a longer lock-in period will result in a higher return for the bondholder. Individuals who do not have a liquidity pressure may choose to opt for the maximum I lock-in period of the bonds to enjoy the highest rate of interest.

Sale of bonds before maturity period: Even though the minimum tenure of a bond is 10 years, the minimum lock in period for an investor is five years. After the lock in period, the investor may exit either through the secondary market or through the buyback facility specified by the issuer in the issue documents at the time of the issue. In case, the investor sells the bonds before their maturity period, the provisions of capital gains shall apply on the same, as bonds fall under the purview of capital assets.

Keeping in view all the characteristics of the long-term infrastructure bonds stated above, they seem like a good investment option for in option for investors who are looking for a fixed and steady flow of income. While investing in bonds, be sure to read the offer document carefully, choose the lock in period and understand the other terms and conditions.

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

HDFC TaxSaver
ICICI Prudential Tax Plan
DSP BlackRock Tax Saver Fund
Birla Sun Life Tax Relief '96
Reliance Tax Saver (ELSS) Fund
IDFC Tax Advantage (ELSS) Fund
SBI Magnum Tax Gain Scheme 1993
Sundaram Tax Saver

---------------------------------------------

Application form for Tax Saving Infrastructure Bond and more information

Submit filled up application Collection canter near you

------------------------------------------------
How to apply to REC Bonds?

Apply for REC Tax Free Bonds forms below

Submit the filled up form to Collection canter near you

Health Insurance - Day-care Covers

Health insurance agnostics often cite the lack of cover for small or over-the-counter medical expenses to justify their scepticism. Their grouse is that though visits to a doctor and the associated medicine bills entail sizeable costs, these are not reimbursed by health policies.

At a conference held recently, the Insurance Regulatory and Development Authority (Irda) chairman urged insurers to launch more 'day-care' based covers, highlighting the fact that non hospitalisation expenses amount to almost twice the hospitalisation spends. He pointed out that advancements in medical technology have helped many treatment procedures throw off the 24-hour hospitalisation yoke.

Day-Care Is An Inclusion

As mentioned earlier, many mistakenly believe that their standard policy does not cover expensive treatment procedures pertaining to critical illnesses, since these do not necessitate 24-hour hospitalisation. If you buy an outpatient department (OPD) health policy instead under this incorrect impression, your decision would be faulty, as regular policies do cover several day-care procedures. 'Day-care' is the term used to describe treatment procedures that require hospitalisation of less than 24-hours. These include chemotherapy, radiation, dialysis, cataract, lithotripsy, tonsillectomy and so on. The list of such treatment procedures can be found in the policy documents as well as on company websites. With the Irda putting its weight behind more product innovation, the list is likely to grow further in the coming days.

Day-Care As A Comparison Tool

If you are comparing policies with 'day-care' as a key parameter in mind, don't go simply by the number of procedures covered. Instead, the emphasis should be on the definition of procedures under the scope of coverage. The broader the definition, the better the chances of your purpose being served. Some products may offer to pay for say eye correction surgery, which is a wider definition; while another company may segregate this further into several illnesses. As a result, the number of ailments covered will go up, but certain illnesses could be left out in the process. Public sector insurers, for instance, use a broader definition even though the number of procedures covered is smaller. As far as the claim process is concerned, it is largely similar to that of treatments entailing hospitalisation, since the coverage of 'day-care' procedures is an in-built feature. At best, some companies may ask for prior intimation to activate the cashless facility.

OPD And Maternity Covers

A clutch of companies offer policies whose USP is coverage of outpatient department (OPD), dental and maternity expenses. These products cover treatments that neither require 24-hour hospitalisation nor do they form a part of the 'day-care' procedures list. The difference between OPD and 'daycare' procedures lies in the type of procedures covered. While the former relates primarily to small-time expenses, the latter pertains to expensive procedures which would have entailed at least 24-hour hospitalisation, but for advancements in medical technology. For instance, cataract surgery is a 'day-care' procedure, while dental treatment will fall under the OPD category. OPD plans are primarily seen as tools for utilising the entire Rs 15,000-limit allowed under Section 80D towards health insurance premiums.

Apart from tax benefits, there isn't much differentiation you can bring to the table. This is one reason why there aren't too many OPD products available in the market today. Also, the usage is not easy to control. When the insurer receives pharmacy bills, it is difficult to tell whether they pertain to cosmetics or actual medicine costs.

The Workings

Barring the scope of coverage, OPD covers' functioning is largely similar to regular indemnity-based health plans. The hospitalisation expenses incurred by the policyholder are reimbursed by the company – either through the cashless route or after submission of the required documents. The ambit of coverage also includes specified 'day-care' procedures like radiation and chemotherapy, as well as pre- and post-hospitalisation expenses.

Unlike standard health plans, however, these products also pay for consultation fees, dental treatment, maternity expenses, diagnostic tests and pharmacy bills. However, remember, that these reimbursements are subject to sub-limits mentioned in the policy.

Should You Go For Opd Plans?

The answer to the question lies in your needs and expectations from the policy. If maximising tax benefits is important to you, even if it means shelling out a much higher premium, you can probably consider buying such products. But keep other factors, too, in mind. "With the additional cost charged being almost equal to the OPD Coverage, the current OPD products in the market are mere tax-saving instruments, without creating any real value for the customer. Health insurance should be part of one's longterm financial planning, and not just another tax-saving tool. If one can afford paying a premium of . 1,5000, in our opinion, it is more sensible to buy a larger coverage for your family, than go for such plans. After all, you can always buy a cheaper, regular health cover and invest the money saved elsewhere. This kitty can be used for funding your OPD expenses.

With the tax-saving season in full swing, it is likely that you could be approached to buy such products. Tax benefit-cum-additional-coverage may seem like an irresistible combination. But it would be unwise to go for a product based solely on these two aspects. The company's claim settlement record along with the product's premium, features, benefits as well as terms and conditions should make up the main factors influencing the decision.

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

HDFC TaxSaver
ICICI Prudential Tax Plan
DSP BlackRock Tax Saver Fund
Birla Sun Life Tax Relief '96
Reliance Tax Saver (ELSS) Fund
IDFC Tax Advantage (ELSS) Fund
SBI Magnum Tax Gain Scheme 1993
Sundaram Tax Saver

---------------------------------------------

Application form for Tax Saving Infrastructure Bond and more information

Submit filled up application Collection canter near you

------------------------------------------------
How to apply to REC Bonds?

Apply for REC Tax Free Bonds forms below

Submit the filled up form to Collection canter near you

Pre-approved loan

THERE are a lot of occasions when an individual will receive details about a pre-approved loan. This might seem to be a good route to get some money instantly, but the situation is not so simple. There is a need to take a careful look at several conditions related to the loan and see whether there are some benefits that comes into the picture. Here is a look at the pre-approved loan and what are the kinds of positions that can actual impact the borrower.

Reason for loan: Pre-approved loan can be given for the purpose of the purchase of an asset like a car or it could be a personal loan. The reason for taking the loan is important, as it will set the agenda for the situation that will follow from then on.

There will be several other conditions that will come along with the loan depending on the nature of the loan. A small distinction here has to be taken into consideration because of the fact that the amount of the loan is what is pre determined.

The nature of the loan might also put some restriction on the usage of the funds. So, the borrower should think about the loan only if their needs match the conditions of the loan.

Past experience: The key part in the pre-approved loan is the amount of the loan that is actually determined in advance based on the information available with the bank. The bank after looking at the transaction history and other fixed factors will fix a certain amount of loan to be offered. This is a situation where the working is not final, so, there will be various details that will be called for and then the loan will be confirmed.

The other point is that for this kind of feature, if the conditions related to the loan are not very strict, the interest rate charged on the loan will be high, translating into a higher cost for the borrower.

Additional documents: The entire presence of the pre-approved loan does not make this a free loan or one without any procedure to complete, as there are several things that need to be done on this front.

There will have to be the submission of some documents at some stage of the process so that there is some security that is built up, and the bank is also confident of the ability of the individual to actually repay the amount of the loan. This requires some normal work that needs to be done while taking a loan, and in the end, the loan might not seem to be very different from many other types of loans.

Cosmetic appeal: At the end of the day, there could be a situation where the cosmetic appeal of the entire loan is greater than the actual benefit. So, there could be a lot of disappointment in store for the individual.

The loan might be preapproved, but the entire process that is done for getting the loan could lead to some loss of confidence about the procedure. The final amount of the loan could also be different from what the earlier figure might have looked like. Keeping these factors in mind will help in getting the required benefits for the borrower.

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

HDFC TaxSaver
ICICI Prudential Tax Plan
DSP BlackRock Tax Saver Fund
Birla Sun Life Tax Relief '96
Reliance Tax Saver (ELSS) Fund
IDFC Tax Advantage (ELSS) Fund
SBI Magnum Tax Gain Scheme 1993
Sundaram Tax Saver

---------------------------------------------

Application form for Tax Saving Infrastructure Bond and more information

Submit filled up application Collection canter near you

------------------------------------------------
How to apply to REC Bonds?

Apply for REC Tax Free Bonds forms below