Tuesday, April 1, 2014

Top Performing Mutual Funds for the year 2013-2014

Top performing funds for the year ending 2013-2014 are as follows

LARGE CAP FUNDS
1. Reliance Focused Large Cap Fund - 26.6%
2. ICICI Pru Top 100 Fund               - 26.1%
3. Birla SL Top 100                           - 25.9%
4. Birla SL Long Term Advantage      - 25.7%
5. Motilal Most Shares M50 ETF       - 25.7%


MIDCAP FUNDS
1. UTI Midcap Fund            - 41.4%
2. SBI Midcap Fund            - 41.0%
3. HSBC Small cap             - 35.7%
4. Franklin Smaller Cos        - 34.9%
5. Mirae Emerging Bluechip - 34.1%


ELSS FUNDS
1. Axis Long Term Equity     - 36.5%
2. Reliance Tax Saver ELSS - 32.6%
3. ICICI Pru Right fund         - 31.6%
4. SBI Tax Advantage sr-2    - 29.7%
5. ICICI Pru Tax Plan            - 27.9%

However in this period broader indices has grown as follows.
Nifty    - 17.5%
Sensex - 18.7%
Midcap - 13.9%

Wednesday, January 1, 2014

Top Performing Mutual Funds for the year 2013.

Following are the Top performing Mutual Funds for the Financial year 2013 as on 31/12/2013.

LARGE CAP FUNDS
1. Axis Equity Fund                - 12.6
2. ICICI Pru Top 100 Fund        - 12.3
3. ICICI Pru Focused Bluechip  - 10.4
4. Edelweiss EDGE Top 100    - 10.3
5. Birla SL Frontline Equity       - 8.4

SMALL and MIDCAP FUNDS
1. SBI Midcap Fund                      - 12.3
2. Franklin Smaller Cos                 - 12.3
3. Reliance Small Cap Fund           - 11.3
4. Birla SL MNC Fund                    - 11.0
5. Religare Mid N SMall Cap Fund   - 9.4

DIVERSIFIED EQUITY MUTUAL FUNDS
1. ICICI Pru Exp & Other services  -  42.7
2. Birla SL Opportunities              -   24.6
3. Religare Invesco Equity            -   19.0
4. GS Shariah Bees                     -   17.9
5. UTI Services Industries             -   17.8

ELSS TAX SAVING MUTUAL FUNDS
1. Axis Long Term Equity     -   15.8
2. IDFC Tax Advantage        -   12.8
3. HDFC LTA                      -    10.5
4. Religare Tax Plan             -   9.6
5. ICICI Pru Tax Plan            -   9.5

EQUITY ORIENTED BALANCED FUNDS
1. SBI Magnum Balanced Fund  - 11.2
2. JM Balanced Fund                -  12.3
3. ICICI Pru Balanced Fund (G)  -  10.4
4. HDFC Balanced Fund(G)        -   8.6
5. LIC nomura Balanced Fund (G) - 6.8

BENCHMARK RETURNS  for the same period.
Sensex    - 9.0
Nifty       -   6.8
BSE 100 -  5.9

source of data moneycontrol.

Thursday, November 7, 2013

Thirteen years return of Reliance growth fund whopping 24.75%

Reliance growth fund gave a whopping return of 24.75% in last 13 years from 1 November 2000 to 1 November 2013.

In a SIP Rs 10,000 per month and investment of around Rs 15,70,000 gave you return of Rs 91,86,000

as on 1-11- 2013.

Reference :
http://www.moneycontrol.com/mutual-funds/nav/reliance-growth-fund-retail-plan/sip-calculator-MRC008.html


Sunday, November 3, 2013

Happy and Prosperous Samvat 2070 !

Wish you all Happy and Prosperous Samvat 2070 !
Everybody make lots and lots of money. 

Friday, October 25, 2013

UTI Mastershare declares dividend

UTI Mastershare has declared dividend of Rs 2.25 per unit and the record date is 29/10/2013.

This is an excellent fund from UTI which has been giving dividend continuously for last 26 years.

Mastershare has given dividend every year without fail. Even when markets were down it continued to gave dividends. This is a large cap oriented fund.


Monday, August 12, 2013

How to create HUF file, create capital for HUF and save tax


What is HUF (Hindu Undivided Family)
HUF is a concept when mostly there were joint familys and people used to have family income. Individuals do have there own income and you can have a seperate family income which belongs to all the members of that family. If your name is Mr. Suresh Bafna and you are married then you can also have your own Suresh Bafna HUF.

Your HUF comes into existence naturally on the day you get married. Any Hindu including Sikhs and Jains can form a HUF file any time after his marriage. once they have a child, then child is automatically a member of his father's HUF. Eldest male member is the KARTA (Karta is the person who manages the affairs of the HUF) of the HUF family. however recently even female member can be the karta.


Steps needed to create a HUF Income tax file.
1. Applying for a PAN card of HUF link
2. Opening a Bank Account in HUF name
3. Rubber stamp of HUF.

Coparcener is someone who has the right to demand the share of the HUF; coparceners are generally the Karta (Main decision maker of family, usually the Father , but an amendment has been brought which stated that Females can become Karta; there can be an all female HUF as well), then sons and daughters.

HUF is treated as seperate individual file for income tax purpose and it gets all the same benefit and exemptions as of individual.


How can you put capital or Funds into HUF

1. Ancestral Property - If there is ancestral property, then income from that property can be classified as HUF income or if ancestral assets are sold then money received from such sale can be transferred to HUF
Movable or immovable property received through a Will by way of inheritance is exempt from tax

2. Gifts - Gifts received by members of HUF on Birthdays,Marriage anniversary are exempt from tax up to Rs 50,000. Gifts received from relatives of members of HUF are exempt from this rule. 


NOTE Do not transfer your own assets or funds into the HUF, any income arising from this asset will be clubbed with your own income and you will be taxed on it. However if you transfer money from your asset and invest in tax free income generating instruments like ELSS mutual funds dividend income then no tax, as it is tax free income.

3. Gifts at the time of marriage are exempt from tax, whether from a friend, relative or colleague. Hence if a member of the HUF is getting married, the gift can be made to the HUF, and it will be exempt from tax in the hands of the HUF.

4. Loans - HUF can take interest free loans from relatives of the members

5. Business - Member or Karta can run a business under HUF name and income arising out of this business can be called as HUF income.


Any income received by the HUF can be further invested into various investment avenues such as mutual funds, fixed deposits, property and so on, and the profit or interest earned will be taxable in the hands of the HUF, as it is income of the HUF.


How to save TAX using HUF

If your salary income is 5lakhs and you want to start a side bussiness and earn another 5 lakhs then you can do that bussines in HUF and that income can be called of as HUF income.

TAX calculation
case 1 (without HUF you have one pan card)
Personal Income      5 lakh
Business Income      5 lakh
Total income is      10 lakh
Invest benefit 80c    1 lakh
Basic deduction       2 lakh
so total taxable income is 7 lakh. (tax laibilty = 90,000 approx)

case 2 (with HUF File you have 2 pan card)
Personal Income     5 lakh
Invest benefit 80c   1 lakh
Basic deduction      2 lakh
Taxable income is   2 lakh ( tax liability 20,000)

HUF Income          5 lakh
invest benefit 80c   1 lakh
basic deduction      2 lakh
Taxable income is  2 lakh (tax liability 20,000)

so when you use HUF then your TAXABLE income is (2+2) 4 lakhs only as against earlier without HUF you have taxable income of 7 lakhs.

so you are saving approximately Rs. 50,000 PER YEAR when you have a HUF file.



FORMAT OF HUF CREATION DEED ( optional )



FORMAT OF HUF CREATION DEEDS

DECLARATION

I, ____________________________ son Of ___________________________________ Residing at ____________________________________________ aged ___Adult do hereby declare-

  1. That I am Karta of ____________________________________________

  1. That I received on behalf of the H U F gift of Rs. ___________ by way of CASH/CHEAUE from my FATHER ________________________________(name of relative of karta of HUF  on  dt. _______________ this formed the corpus of the HUF.

  1. That the HUF at present is consisting of the followings members-
                                    

I)                   Shri _____________________, Adult, Residing at _________________
II)                 Smt. _____________________, Adult, Residing at _________________
III)              Kumari _________________-Minor, Residing at ___________________

  1. That the above statements are true to the best of my knowledge & belief. Declare this on _________________

WITNESS:                                                                              Signature


1. ————————————–
                                                                                  ————————————
2. ————————————–                                   (_____________________)
—————————————————————————————————-
—————————————————————————————————————-



References
1. www.moneycontrol.com/news/tax/how-to-save-tax-throughhindu-undivided-familypart-i_645079.html
2. www.charteredclub.com/how-to-save-taxes-by-forming-huf/

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