Quick Tax Planning

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Planning for your taxes can be a daunting and cumbersome task. And some of you are scurrying to complete your last minute tax planning done. We help you to finalise your tax-saving investments in five steps.

Step 1
Buy an adequate life insurance cover if you have financial dependents. The insurance premium qualifies for a tax deduction of up to R1.5 lakh under Section 80C of the Income Tax Act. Always buy a term insurance plan.

Step 2
Buy a health insurance cover for you and family. The premium qualifies for a tax deduction of up to R25,000 (R30,000 if you are above 60) under Section 80D of the Income Tax Act.

Step 3
Find out how much is your Employee's Provident Fund (EPF) or National Pension Scheme (NPS) contribution. Your EPF and NPS contributions qualify for a tax deduction under Section 80C and Section 80CCD(1) respectively.

Step 4
Find out how much more tax can you save under Section 80C. As you know, the maximum deduction available under Section 80C is R1.5 lakh. Find out how much you are already investing by adding your life insurance premium and EPF/NPS contribution. Then deduct the amount from R1.5 lakh. Eureka. Now you know much extra you need to invest to exhaust your tax deduction limit under Section 80C. By the way, you can clam an extra tax deduction of R50,000 on your contribution to NPS under Section 80CCD(1B). In other words, you can save taxes of up to R2 lakh if you contribute to NPS. Remember, you can only claim a maximum tax deduction of R2 lakh under Section 80C and Section 80CCD. So do not invest more than the required amount.

Step 5
Choosing the best tax-saving option is no sweat. Here is the easy way out. Do you like taking risk? If yes, pick Equity Linked Savings Schemes (ELSSs) or tax planning mutual fund schemes. These schemes have a lock-in period of three years and they offer tax-free returns. If you are totally risk averse, you can opt for 5-year tax saving bank fixed deposit. Remember, the interest is not tax free. Risk-averse taxpayers can also start investing regularly in Public Provident Fund (PPF) to invest for long-term financial goals like retirement, child's education, etc. PPF has a lock-in period of 15 years and interest and principal is tax free on maturity.

SIPs are when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich

For further information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

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You can write to us at

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NPS Returns

Start Saving for Tax 2018 by Investing in ELSS Funds Online

NPS funds have generated better returns than the debt-oriented EPF and PPF. But Equity Mutual Funds are better

Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 10 Tax Saver Mutual Funds for 2018

Best 10 ELSS Mutual Funds to invest in India for 2018

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. ICICI Prudential Long Term Equity Fund

5. Birla Sun Life Tax Relief 96

6. Franklin India TaxShield 

7. Reliance Tax Saver (ELSS) Fund

8. BNP Paribas Long Term Equity Fund

9. Axis Tax Saver Fund

10. Birla Sun Life Tax Plan

Invest in Best Performing 2018 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms

For further information contact SaveTaxGetRich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

OR

Call us on 94 8300 8300

HDFC Long Term Advantage Fund

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How has the HDFC Long Term Advantage Fund  performed? 
With a 10-year return of 10.42%, the fund has outperformed both the benchmark (5.08%) and the category average (8.11%) by a good margin. 

The HDFC Long Term Advantage Fund has outperformed the category and the index over the past decade. 

HDFC Long Term Advantage Fund  is a tax-saving fund has a patchy track record. While it delivered strong outperformance in 2016, its performance dipped last year. This is partly due to its higher tilt towards large-caps relative to many of its peers. The fund retains a compact portfolio of 40-odd stocks, with large positions in its top bets. The fund's top picks are all benchmark heavyweights, but otherwise its portfolio bets have little resemblance to the index. 

Even though financials form a chunk of its portfolio, it remains significantly underweight compared to the sector's weight in the index. The portfolio turnover ratio, or churn, is among the lowest, indicating a strict long-term holding orientation. Investors may opt for other proven funds offering more consistency in outperformance. 

SIPs are when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich

For further information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

DSP BlackRock Tax Saver Fund Online

With just a few days left for the financial year to close and to make investments, it makes sense to be invested with a tax saving scheme. Among the tax saving schemes, DSP BlackRock Tax Saver has performed well in almost all cycles of markets.

A five-star rated tax saving scheme, it primarily chooses to have high allocation to large-sized companies. In times when there is lack of clarity on visibility of earnings, high allocation to large-sized companies is a profitable shift. For conservative investors, this strategy is favourable since large-sized companies have established business models, dominant market share, reasonably good cash flow from operations and attractive return ratios.

In the past three-year and five-year period, the scheme has given 24.2% and 20.6% returns, respectively, while its benchmark Nifty 500 has given 15.7% and 13.4%, respectively, in the same period. In the past six months, the scheme's fund manager Rohit Singhania has invested in carefully picked fundamentally strong companies across sectors which have not only demonstrated encouraging financial performance in the past but also have strong revenue visibility once demand in their respective segments improves in the coming quarters. Some of these companies are Amara Raja Batteries, Hindustan Unilever, Tata Consultancy Services, and ICICI Bank

Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 10 Tax Saver Mutual Funds for 2018

Best 10 ELSS Mutual Funds to invest in India for 2018

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. ICICI Prudential Long Term Equity Fund

5. Birla Sun Life Tax Relief 96

6. Franklin India TaxShield 

7. Reliance Tax Saver (ELSS) Fund

8. BNP Paribas Long Term Equity Fund

9. Axis Tax Saver Fund

10. Birla Sun Life Tax Plan

Invest in Best Performing 2018 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms

For further information contact SaveTaxGetRich on 94 8300 8300

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How to Get LTCG Tax Statement

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Effective 1 April, your equity mutual funds and direct equity investments will attract 10% long-term capital gains (LTCG) tax on gains exceeding Rs1 lakh a year. Although many financial experts say that the impact on retail investors won't be much (it could be a dent for high networth individuals though), how does one calculate the LTCG? Help is at hand.

Computer Age Management Services (Cams; one of the largest registrar and transfer agents of the Rs22 trillion Indian mutual fund industry) is giving two statements.  

When Budget 2018 introduced LTCG tax, it said gains till 31 January 2018 will be grandfathered (there would not be any LTCG tax on them). But gains made after that day would attract the LTCG tax. There were two problems with this. One: You have to ascertain the net asset value (NAV) of 31 January 2018 to calculate the grandfathered gains and to also see whether you have any further gains left from the mutual fund investments, for the period between 1 February 2018 till the time you withdraw. Two: the process of calculating LTCG tax has become cumbersome. You need to calculate the lower of the sale price and 31 January 2018 value, and then the higher of this value versus the actual cost price. Not only will it be difficult to get the 31 January 2018 value later (think about a sale you may make, say, 3 years later), you will also have to compute these three figures. 

Two statements 

Towards end of last week, Cams started giving two statements, which will help mutual fund investors know their LTCG tax. The first statement tells you the NAV and the total value of all your equity-oriented funds as on 31 January 2018. This is just a valuation statement for your existing equity investments. You can get it anytime by placing a request through Cams' website (just give your email and permanent account number). This statement helps you ascertain your LTCG or losses if you decide to sell your units.  

The second statement tells you your gains or losses, after taking into account the grandfathering clause after you actually sell your units. Although it tells you which gains were exempted and which weren't, all you need to look at is the final tally of the capital gains or losses to ascertain if you need to pay tax. Both these statements are available for Cams' serviced funds only. 

 Cams as well as Karvy Computershare Pvt. Ltd (the other of the two biggest R&Ts) provide mail back services to investors of fund houses they service whereby they provide various statements, such as capital gains calculation statements, common account statements, transaction history, and so on. Karvy Computershare and other R&Ts are expected to soon start giving the 31 January statements. 

SIPs are Best Investments when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds

For more information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com