Budget 2018 - Standard Increase

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Employees of formal sectors will have more money to invest: Government has proposed to fund 12% of wages for new employees of Employees' Provident Fund in all sectors. In addition, take home salary of new women employees is likely to go up in the formal sector. Employers can deduct 8% PF to be cut in first three years.

In addition, salaried individuals can claim standard deduction of up to Rs.40,000 in lieu of transport and medical reimbursement. It has increased from Rs.34,200 (Rs.19,200 transport allowance and Rs.15,000 medical reimbursement).

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

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. Mirae Asset Tax Saver Fund

3. DSP BlackRock Tax Saver Fund

4. Sundaram Diversified Equity 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. Axis Tax Saver Fund

10. BNP Paribas Long Term Equity Fund

Invest in Best Performing Tax Saver Mutual Funds of 2018

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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Budget 2018 - Benefits for Senior citizens

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There will be no TDS on the interest income of up to Rs.50,000. Earlier, this limit was Rs. 10,000.

Senior citizens can now claim deduction of up to Rs.50,000 on health insurance premium. This has been raised from Rs.30,000.

For critical illness, senior citizens can claim deduction of up to Rs.1 lakh towards medical expenditure.

In addition, the government has proposed to extend the Pradhan Mantri Vaya Vandana Yojana to March 2020 and increase the limit of investment from Rs.7.5 lakh to Rs.15 lakh. This policy gives assured return of 8% to senior citizens.

What's more, the budget has also ended the current practice of tax deduction at source (TDS) on interest income earned by senior citizens. Currently, TDS is deducted on deposits at the rate of 10%. In cases where tax liability is more than the TDS, the account holder will have to pay the difference.

Towards this, the Finance Bill will insert a new section, 80TTB, in the Income-Tax Act relating to this deduction of interest on deposits made by senior citizens. Interest income from a deposit with a bank, co-operative bank or post office will come under this section.

What does it mean for a senior citizen? "Two things—increase in exemption limit and TDS—are relevant moves for senior citizens. If you take the current interest rate, which is in the 7-7.5% per annum on bank FDs, if you have Rs7.5 lakh-Rs8 lakh as FD then you get this benefit

Usually senior citizens prefer fixed deposits to market-linked products. The measure is targeted at only a small portion of the citizens. It is good that it is also targeted at the upper middle-class segment because you need to have a deposit of Rs7.5 lakh in the account to get this benefit

The amendment will take effect from 1 April 2019

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

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. Mirae Asset Tax Saver Fund

3. DSP BlackRock Tax Saver Fund

4. Sundaram Diversified Equity 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. Axis Tax Saver Fund

10. BNP Paribas Long Term Equity Fund

Invest in Best Performing Tax Saver Mutual Funds of 2018

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

Save Tax and Grow Wealth with ELSS Funds

Invest in ELSS Funds Online and Save Tax

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

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. Mirae Asset Tax Saver Fund

3. DSP BlackRock Tax Saver Fund

4. Sundaram Diversified Equity 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. Axis Tax Saver Fund

10. BNP Paribas Long Term Equity Fund

Invest in Best Performing Tax Saver Mutual Funds of 2018

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

Budget 2018 - Long Term Capital Gain Tax & Dividends Tax

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Long term capital gains in equity funds is back: Government has proposed to impose long term capital gains tax of 10% on the gains exceeding Rs.1 lakh.

Tax googly: The government has proposed to grandfather all gains up to January 31, 2018. This means, irrespective of the price you bought the share or units of MFs, the government would consider the highest price quoted on January 31, 2018 as the date of acquisition of shares or units of MFs.

DDT on equity funds: Dividends on equity funds will now be taxed at 10%.

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

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. Mirae Asset Tax Saver Fund

3. DSP BlackRock Tax Saver Fund

4. Sundaram Diversified Equity 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. Axis Tax Saver Fund

10. BNP Paribas Long Term Equity Fund

Invest in Best Performing Tax Saver Mutual Funds of 2018

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

GOI Savings (Taxable) Bonds

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In a falling interest rate scenario and perhaps to keep their fiscal numbers under control, the government has recently lowered the interest rate on the GOI Savings (Taxable) Bonds. The government has replaced the erstwhile 8 percent Savings (Taxable) Bonds 2003 with the 7.75 per cent Savings (Taxable) Bonds. The bonds opened for subscription on January 10. While most of the features remain the same, the tenure has been increased by one year. 

The bonds suit conservative investors who are looking for assured and fixed returns with complete safety of their principal amount. However, currently the interest rate is not high enough compared to instruments that a retiree usually looks at. 

At present, the Post Office Monthly Income Scheme and Senior Citizens' Savings Scheme (only for retirees) earns its investors 7.5 per cent and 8.4 percent, respectively. These schemes also come with a lower tenure of 5 years compared to 7 years for the GOI bond. Further, most banks are offering 6-7 percent per annum over a 5-7 years tenure. 

If you have already exhausted the limits of the Post Office Monthly Income Scheme (Rs 4.5 lakh) and SCSS (Rs 15 lakh) and are looking for a return higher than bank deposits, you can consider the GOI bonds while keeping your liquidity conditions in mind. 

But before investing in them, here are few important features you should consider. 

Who can invest in of GOI Savings Bonds? 
Any one who is a resident Indian in their individual capacity or jointly can invest in the scheme. They can also invest on a one or survivor basis and even on behalf of a minor as a parent or guardian. Hindu Undivided Families (HUFs) can also apply. However, non-resident Indians cannot invest in the scheme. 

How much can you invest in GOI Bonds? 
There is no maximum limit for investments. However, these bonds cannot be traded in the secondary markets. 
Interest rate on the bonds 

The bonds will be issued in 'Cumulative' or 'Non-cumulative' forms. Interest on the non-cumulative bonds will be payable at half-yearly intervals from the date of issue, while the interest on cumulative bonds will be compounded with half yearly rests and will be payable on maturity along with the principal. 

For cumulative bonds, the maturity value will be Rs 1,703 (being principal and interest) for every Rs 1,000 invested. 

For non-cumulative bond investors, the interest will be paid on August 1 and February 1 each year and it will be credited to the bondholder's bank account electronically. 

How can you invest in of GOI Bonds ? 
To invest, walk into any of branch of State Bank of India, select nationalised banks, private sector banks(ICICI Bank, HDFC Bank, Axis Bank, IDBI Bank and so on) or the Stock Holding Corporation of India, as specified in Annexure 3 of a finance ministry notification. There are a total of 23 banks or receiving offices. 

To apply for the bonds, you will have to fill up 'revised Form A' either physically or electronically. You can find the revised form here: https://goo.gl/zAMECv . 

The bonds are mandatorily issued in demat form and credited to the Bond Ledger Account (BLA) of the investor and a Certificate of Holding is given to the investor as proof of investment. 

Tax treatment of GOI Bonds
According to the Income-tax Act, 1961, the interest earned on the bonds will be added to the bond holder's income and will then be taxed according their tax rate. The bond is exempt from wealth-tax under the Wealth Tax Act, 1957. 

Tax deducted at source (TDS): Tax will be deducted at source when the interest is paid on the non-cumulative bonds. And for cumulative bonds, tax on the interest portion of the maturity value will be deducted at source when the maturity proceeds are paid to the investor. 

Redemption and early exit of GOI Bonds
Although the bonds have a tenure of seven years, they can be redeemed before maturity based on the age of the investor at the time of exiting. 

According to the finance ministry, for those in the age bracket of 60 to 70 years, the lock-in period is six years from the date of issue. For those between 70 years and 80 years, it is five years. And for anyone above 80 years, it is four years. 

Once an investor, depending on the age, becomes eligible for early surrender of the bonds, a premature exit can be made only at half yearly intervals, i.e., on August 1 and February 1 every year. 

The early exit, however, comes at a cost. On the date of premature encashment, 50 percent of the interest due and payable for the last six months of the holding period will be recovered in case of premature withdrawals, both for cumulative and non-cumulative bonds. 

Other features 
You can nominate more than one person. However, no nomination can be made in respect to bonds issued in the name of a minor. Also, you cannot take loans against the deposit made in the bonds. And the bonds held to the credit of an investor's Bonds Ledger is not transferable. 

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

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

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Budget 2018 - Boost to debt funds

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SEBI will have to consider mandating large corporates to meet about 1/4^th of their financing needs from the bond markets. This is likely to improve liquidity in the bond markets.

In addition, the government has pushed regulators to allow fund houses and insurers to invest in 'A' grade ratings. Currently, fund houses can invest in debt instrument having credit ratings of up to 'AA'.

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

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. Mirae Asset Tax Saver Fund

3. DSP BlackRock Tax Saver Fund

4. Sundaram Diversified Equity 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. Axis Tax Saver Fund

10. BNP Paribas Long Term Equity Fund

Invest in Best Performing Tax Saver Mutual Funds of 2018

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

IDFC Dynamic Equity Fund