Monday, February 17, 2014

2014 Tax Saving option for you

Download Tax Saving Mutual Fund Application Forms

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94 8300 8300

 

 

It's time again to plan your taxes. Find out how much you need to invest under Section 80C and the best option for you.



Choose a tax-saving option based on your risk appetite, expectations of returns, and the time at which you need the money.

Find out if you are eligible for these deductions as well.

HEALTH INSURANCE

Up to Rs 15,000 premium paid for self, spouse and children is eligible for deduction under Section 80D. An additional Rs 15,000 deduction for insuring health of parents (Rs 20,000, if they are senior citizens).

PREVENTIVE HEALTH CARE

Up to Rs 5,000 paid for medical check-ups of self, spouse and children is eligible for deduction under Section 80D. The deduction claimed cannot exceed Rs 15,000 (Rs 20,000 for senior citizens).

HOME LOAN

Up to Rs 1.5 lakh interest paid on loan for a selfoccupied house is eligible for deduction under Section 24(b). The entire interest paid is eligible for deduction if the house has been rented out.

EDUCATION LOAN

The entire interest paid on education loan for self or child is eligible for deduction under Section 80E. The deduction on loan is available for a maximum of eight financial years.

HRA

HRA is exempt if you fulfill certain criteria. Even if you don't get HRA as part of your salary, you can claim up to Rs 2,000 a month as exemption under Section 80GG, subject to certain conditions.

DONATIONS

Donations made to recognised charitable institutions are eligible for deduction under Section 80G. However, donations to political parties are no longer eligible for tax deductions.

 

 

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

 

 

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Best Performing Mutual Funds

    1. Largecap Funds             Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Franklin India Bluechip
      4. ICICI Prudential Top 100 Fund

B. Large and Midcap Funds         Invest Online

      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
      4. Birla Sun Life Front Line Equity Fund
      5. Franklin India Prima

C. Mid and SmallCap Funds          Invest Online

      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
      5. Birla Sun Life Dividend Yield Plus
      6. SBI Emerging Businesses Fund
      7. HDFC Mid-Cap Opportunities Fund
      8. ICICI Prudential Discovery Fund

D. Small and MicroCap Funds   Invest Online

      1. DSP BlackRock MicroCap Fund

2.       Franklin India Smaller Companies

E. Sector Funds          Invest Online

      1. Reliance Banking Fund
      2. Reliance Banking Fund
      3. ICICI Prudential Banking and Financial Services Fund

F. Tax Saver Mutual Funds      Invest Online

1. ICICI Prudential Tax Plan

2. HDFC Taxsaver

      1. DSP BlackRock Tax Saver Fund
      2. Reliance Tax Saver (ELSS) Fund

G. Gold Mutual Funds        Invest Online

      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund
      4. Birla Sun Life Gold

H. International funds         Invest Online

1. Birla Sun Life International Equity Plan A

2. DSP BlackRock US Flexible Equity

3. FT India Feeder Franklin US Opportunities

4. ICICI Prudential US Bluechip Equity

5. Motilal Oswal MOSt Shares NASDAQ-100 ETF

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