15 years returns of SIP ; Importance of choosing the right Mutual Fund

The importance of choosing a RIGHT Mutual Fund
Following is the results of SIP Investment of Rs.5000 every month for 15 years in Best and worst Mutual Funds. Returns as on May 31,2010 (source : valueresearch)

BEST 

1. HDFC Equity Fund        - 120,17,370 (more then a crore. YES becoming crorepati is easy !)
2. Franklin India Bluechip   -   94,87,199
3. Magnum Multiplier         -   51,56,455

WORST

1. Taurus Discovery       -  21,31,190
2. LIC MF Equity         -   21,83,562
3. JM Equity                 -   24,78,042

JUST the deciscion to select the right mutual fund can make you a HUGE difference in the long term.
I am sure nobody can predict and choose the Best Mutual Fund but they can definately select a good reliable fund based on its historical performance and increase your chances of selecting winner who will definately be amongst the top few Mutual Funds.

How to close a defunct company from Registrar of companies amnesty scheme

Many enterpreneurs have created private limited companies and now are not using it or the company is in dormant or defunct state and they want to close it. But to close they have to get NOC from various departments and its big task in itself. so the govt have come up with an amnesty scheme with effect 30/5/2010.
The details is given on the site of http://www.mca.gov.in/ as follows:

The Ministry has introduced the following two Schemes with effect from 30-5-2010:

“Company Law Settlement Scheme, 2010” giving opportunity to the defaulting Companies to enable them to make their default good by filing belated documents and to become a regular compliant in future.

“Easy Exit Scheme, 2010” giving opportunity to the defunct companies to get their names struck off from the register under Section 560 of the Companies Act, 1956.

For details kindly see General Circular No 1/2010 and 2/2010 available on MCA portal under News & Events and under heading Act, Bills and Rules. Availing the benefit of the Schemes will prevent companies from prosecution and other legal action.
The pdf file of the circular is on following link:
http://www.mca.gov.in/Ministry/latestnews/CircularEES27may2010.pdf

New Income Tax Return Form SARAL II for Assessment Year 2010-11 Download

Income Tax department had issued a New form called Saral - II for the Assessment year 2010-11 and it is very much simpler and just 3 page to be filled by individuals.

you can download the form from the following links

http://incometaxindia.gov.in/download_all.asp

http://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=NOTF&schT=&csId=db162fbb-0555-4653-9e67-c818dd522568&sch=&title=Taxmann%20-%20Direct%20Tax%20Laws

also more information on the above topic can be found on the following page
incometaxindia.gov.in

Top Performing Mutual Funds for Financial Year 2009-2010

Top Performing ELSS Tax saving Equity Mutual Fund for the Financial Year 2009-2010 are as follows (Returns from Nifty - 73.8% and Sensex - 80.5% )

1. ICICI Pru Tax Plan                 - 120.6 %
2. Bharti AXA Tax Advtg            - 114.4 %
3. Can Robeco Equity Tax saver - 113.4 %
4. HDFC Tax Saver                    - 110.5 %
5. Birla SL Tax Releif 96             - 107.0 %

All the top 5 funds have outperformed viz a viz sensex and Nifty by huge margin of more the 20%

Top performing Equity Diversified Fund

1. DSP - BR Micro Cap Fund     - 176.3 %
2. ICICI Pru Discovery Fund      - 155.2 %
3. Principal Emerging BlueChip   - 150.4 %
4. Can Robeco Emerg - Equities - 149.9 %
5. Sundaram Select Small Cap    - 143.6 %

The Most Prefered Funds Performance as follows (Diversified Equity)

1. Reliance Growth Fund       - 108.6 %
2. HDFC Equity Fund           - 114.5 %
3. HDFC Top 200 Fund        -   96.4 %
4. SBI Magnum Contra Fund -  78.0 %
5. DSP BR Top 100 Fund     -  74.8 %

Most Prefered ELSS Tax saving funds

1. SBI Magnum Tax Gain    -   84.4 %
2. Sundaram Tax Gain         -  79.3 %
3. HDFC Tax Saver             - 110.5 %
4. Birla SL Tax Releif 96      - 106.9 %
5. Reliance Tax saver ELSS -   91.0 %

Best Performing Mutual Funds for the month of February 2010

Top performing equity diversified Mutual Funds for the month of February 2010 are as follows

1. Birla SL Comm Eqty-GAP
2. Religare AGILE Fund
3. IDFC ss(50 - 50) Equity
4. ICICI Pru Services Indus
5. Edelweiss Nifty Enhancer

Top performing Tax saving ELSS equity Mutual Funds for the month of February 2010 are as follows

1. Religare AGILE Tax
2. ICICI Pru RIGHT Fund
3. Axis Tax Saver
4. ICICI Pru Tax Plan
5. Edelweiss ELSS Fund

Income Tax slab for Assesment Year 2010- 2011

The Income tax for individuals have been revised as follows

MALE

1. upto 1,60,000 - Nil
2. above 1,60,000 till 5,00,000 - 10%
3. above 5,00,000 till 8,00,000 - 20%
4. above 8,00,00 and above     - 30%

WOMEN

1. upto 1,90,000 - Nil
2. above 1,90,000 till 5,00,000 - 10%
3. above 5,00,000 till 8,00,000 - 20%
4. above 8,00,00 and above     - 30%

Senior Citizen

1. upto 2,40,000 - Nil
2. above 2,40,000 till 5,00,000 - 10%
3. above 5,00,000 till 8,00,000 - 20%
4. above 8,00,00 and above     - 30%

HDFC Mutual Fund declared dividend in Growth Fund and Capital Builder Fund

HDFC Mutual Fund has declared the dividend under the dividend option of

• HDFC Growth Fund               - 27.50%
• HDFC Capital Builder Fund.   - 22.50% 

The record date is 25 th of February 2010.