Tax liability on sale of Housing Society flat

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Where an assessee acquires a capital asset under a gift or will, cost of acquisition of the property shall be deemed to be the cost for which the previous owner acquired it. This deemed cost of acquisition will have to be subtracted from the sale considera-tion for the purpose of computing income under the head 'Capital Gains'. If entire sale proceeds are used to purchase/ build a new house within three years, then the entire capital gain shall be exempt. In this case, if only 50% of the sale consideration is spent on the purchase of flat, only 50% of the capital gains shall be exempt.

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Why you must buy Insurance ?

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Have you got clumsy hands? Does your mobile slip too often? How do you protect it? With a mobile cover and a screen guard. Some even go to the extent of insuring their gadget. All this, because you absolutely love your phone.

How about insuring your life. Most of us think, life insurance is for old age. But this is not the truth. All our life we constantly work hard to earn money for our family but the thought of securing their future with a plan comes seldom.

Insurance remains the most ignored part of investment planning. Insurance penetration marginally rose to 3.4% in 2015 from 3.3% in 2014. While penetration for life insurance stood at 2.7%, it was below 1% at 0.7% for non-life insurance, as per IRDAI Report 2015-2016.

Although planning should begin with insurance, most of us do not realise the need for it. It's a stark reality but most of us buy insurance for tax planning only. The fact is that insurance is not for us, it's for our family.

Financial planning without insurance is futile. Though investment and insurance are two different concepts. Both complement each other and the key for wealth creation lies in finding the right balance. Securing the future is as important as investing for it.

Insurance pays in future by acting as a financial backup for the family's wellbeing when you are not around. Insurance gives the much needed financial support at the time of emotional disruption for someone losing his loved one.

The money received by the family can be utilised to repay a loan or any bigger liability when the breadwinner is no more there.

Even in the absence of the earning member, money goals can be fulfilled if the future expenses are secured with a life insurance plan in time. There is no right age to have insurance. One should buy insurance the day your family is financially dependent on you. You can nominate your parents, spouse or children.

Most financial instruments including bank savings accounts, demat accounts, PPF, even mutual funds ask you to name a nominee. But since it's not compulsory, we usually miss out on the same. In case of insurance, it's mandatory by regulation to name a nominee. This helps in smooth transfer of money to your chosen nominee in case something happens to you.

There are mainly two types of insurance: Life and Non-Life. Life Insurance plans include endowment, whole life, term plans and ULIPs. While Term Plans act as life cover . Endowment and Whole Life Plans are long-term plans that come with wealth protection features. Many of these policies over guaranteed returns, thus affecting the overall returns. Among non-life insurance, health plans are the most common.

Today, when investments are shifting to the online platform and all the receipts are delivered in email account, the world of insurance has changed too. You can buy insurance at the click of a button.

You can buy all kinds of insurance online. For the aggressive investors ULIPs can be a great bet. Unit Linked Insurance Plans are participating plans that can garner smart returns, comparable to mutual funds, because of the equity advantage. ULIPs invest the premium paid by you in different funds and the fund value depends on the stock market performance.

Experts believe, equity market has the capability of giving double digit returns if held for more than 10 years.

While MF provide good returns, there is no life cover attached to it. On the other hand, in case of ULIPs either the higher of the cover amount or the fund value of the ULIP is paid out, or both the fund value and cover amount is paid out on death –depending on the type of ULIP chosen.

A family floater usually covers spouse, children and dependent parents. But it's wiser to buy separate policy for senior citizens in the family. As the premium is calculated according to the age of the oldest member. It's always better to add a health insurance plan to your portfolio at the earliest to get the age advantage. Health insurance is of great help in case of an emergency.

You can choose from cashless and reimbursement option on case of mediclaim. All that is required is 24-hour hospitalisation for the members covered in the policy. Though the penetration is still on the lower side, skyrocketing medical inflation has made it more of a necessity in metro and tier one and two cities.

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Sundaram Diversified Equity Fund

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How Sundaram Diversified Equity Fund performed? 

With a 10-year return of 8.59%, the Sundaram Diversified Equity Fund mirrors the category average (8.43%), but has outperformed its benchmark index (5.72%). The fund's long-term performance is similar to the category average. 

The current fund manager, who took over only a few years ago, has brought about a change in its investment approach. The portfolio construction is benchmark-agnostic, with modest exposure in individual bets, even as the portfolio has grown in size to around 70 stocks. 

Currently, the fund has taken a higher exposure in construction and engineering sectors compared to its index. While the fund has improved its risk-return profile to some extent of late, it is yet to show

Home Loans

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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

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Best Tax Saving Mutual Funds or ELSS Funds to Invest in 2018

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Invest Rs 1,50,000 and Save Tax up to Rs 46,350 under Section 80C. Get Great Returns by Investing in Top Performing Tax Saving ELSS Funds. Save Tax Get Rich

Equity Linked Savings schemes or ELSSs are often called the 'first' mutual fund scheme. This is because most mutual fund investors get into mutual funds via ELSSs or tax saving/planning mutual fund schemes. Investments in ELSSs qualify for tax deductions of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. Most investors start investing in ELSSs to save taxes, and and slowly they start investing in other equity mutual fund schemes.   

If you are not investing in ELSSs to save taxes under Section 80C, you should reconsider your decision to stick to traditional tax-saving options like Public Provident Fund (PPF), National Savings Certificate (NSC), etc. The government-backed tax-saving options offer assured returns. However, the returns are likely to be modest. So, using these options to fund your long-term financial goals may not be a wise idea.

ELSSs come with the shortest mandatory lock-in period of three years among the tax-saving options available under Section 80C. Other popular options like PPF and NSC have a much longer lock-in period. Though PPF allows partial withdrawal after five years, it is a product with a tenure of 15 years. NSC has a lock-in period of six years.   

Sure, ELSSs are riskier than government-sponsored schemes. This is because ELSSs invest in stocks and stocks are risky and volatile in the short-term. That is why it is important to invest in ELSSs with a longer horizon than the mandatory three-year lock-in period. Since ELSSs are equity schemes, investor should be prepared to stay invested for at least five to seven years.

However, ELSSs also reward investors for the extra risk. For example, ELSS category has offered tax-free returns of around 13.52 per cent in three years, 17.29 per cent in five years, and 9.83 per cent in the 10-year horizon. Other government-backed schemes offer single-digit returns.   

Top 10 Tax Saving Mutual Funds of 2018

Best 10 ELSS Mutual Funds to Invest in India of 2018

1. Tata India Tax Savings Fund 

2. Sundaram Diversified Equity Fund

3. DSP BlackRock Tax Saver Fund

4. Mirae Asset Tax Saver Fund

5. Birla Sun Life Tax Relief 96

6. ICICI Prudential Long Term Equity Fund

7. Invesco India Tax Plan

8. Reliance Tax Saver (ELSS) Fund

9. BNP Paribas Long Term Equity Fund

10. Axis Tax Saver Fund

Invest in Best Performing Tax Saver Mutual Funds of 2018

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Download Top Tax Saver Mutual Funds Application Forms

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Methodology:   
  Save Tax Get Rich Mutual Funds has employed the following parameters for shortlisting the mutual fund schemes.

1. Mean rolling returns : rolled daily for the last three years.
2. Consistency in the last three years : The three-year period is divided into smaller time periods each with a progressing weighting.

3. Downside risk : We have considered only the negative returns given by the mutual fund scheme for this.
X = Returns below zero
Y = Sum of all squares of X
Z = Y/number of days taken for computing the ratio
Downside risk = Square root of Z   

4. Outperformance : It is measured by Jensen's Alpha for the last three years. Jensen's Alpha shows the risk-adjusted return generated by a mutual fund scheme relative to the expected market return predicted by the Capital Asset Pricing Model (CAPM). Higher Alpha indicates that the portfolio performance has outstripped the returns predicted by the market.

Average returns generated by the MF Scheme - [Risk Free Rate + Beta of the MF Scheme * {(Average return of the index - Risk Free Rate}
5. Asset size : For equity diversified funds, the threshold asset size is Rs 100 crore, and Rs 50 crore for balanced funds.

We have also conducted a back testing of our model portfolios. These returns are forward returns from the base date.   

Invest in Mutual Fund SIPs for a bright future

 

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

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What is Paid up Insurance Policy?

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A paid-up policy is one that requires no further premium payments and continues to provide benefits till maturity. 

A policy can be converted to a paid-up policy once it acquires a surrender value which is typically after 2-3 annual premiums are paid for traditional plans. For Ulips, there is a lock-in period of 5 years. 

Paid-up value is usually calculated as number of paid premiums X sum assured /total number of premiums. 

In case of a paid-up Ulip, the policy administration charges, mortality and fund management charges continue to be applicable and negatively impact the fund value. 

This is a useful option when one is stuck with an inappropriate product due to wrong selection and can be opted for instead of surrendering the policy to avail of a life cover. 

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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