Thursday, July 29, 2010

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.

Monday, May 31, 2010

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

Friday, April 30, 2010

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

Thursday, April 1, 2010

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 %

Wednesday, March 3, 2010

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

Friday, February 26, 2010

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%

    Saturday, February 20, 2010

    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.

    Thursday, February 11, 2010

    BEAWARE; income-tax refund fraudulent email from clone of Income-Tax department is doing the rounds

    Following is the detail of a fraud email doing the rounds it claims to give Income -Tax refund,
    be careful and do not give any information on this website as it is not IT departments website but a fraud website.  http://gerolp.com/iti/
     ================================
    Flag this messageYour Tax Refund is now available in 12 hours !Monday, February 8, 2010 7:02 PM


    From: "Income Tax Department" Add sender to ContactsTo: undisclosed-recipients

    Dear applicant,

    After the last annual calculation of your fiscal activity,
    we have determined that you are eligible to receive a tax refund of
    820.50 Rupees.
    Bank account holders at the Bank of India,
    will receive the money within 12 hours after filling the form.
    To Access the form for your tax refund please click here:
    Tax Refund Online Form
    Thank You.
    Department of Revenue,Ministry of Finance Government of India

    Tuesday, February 9, 2010

    LIC Wealth Plus Plan - Guaranteed returns of Highest NAV from first 7 years payable on maturity

    LIC has launched a Unit Linked plan called Wealth plus plan.
    The feature of this policy are as follows.
    • Highest NAV payble from first 7 years or NAV on maturity of 8th year whichever is higher on maturity.
    • single premium or 3 years premium payment
    • Min Rs 40,000 for single premium or Rs 20,000 for 3 years
    • Policy matures after 8 years
    • Risk cover 1.25 times of single premium policy / 5 times of anualized premium of 3 year policy
    • Partial withdrawal allowed after 3 years
    In face of it this looks a very good product which can give guranteed returns with stock market benefit on upside and no risk on downside. but we will have to wait for the fine print on the asset allocation and charges levied on this product before we can pass a judgement on it.

    Monday, February 1, 2010

    Top performing Mutual Funds for the month of January 2010

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

    1. IDFC Premier Equity
    2. ICICI Pru Discovery Fund
    3. Religare Mid N Smallcap Fund
    4. DSP - BR Micro Cap Fund
    5. ICICI Pru Emerging S.T.A.R Fund

    Top performing Tax saving ELSS equity Mutual Funds for the month of Jan 2010 are as follows
    1. SBI Tax advantage Sr-1
    2. Can Robeco Equity Taxsaver
    3. Reliance Tax saver ELSS
    4. ICICI Pru Tax Plan
    5. Tata Infra Tax saving Fund
    Axis Tax saver makes a debut in the first month of 2010 in ELSS Category.

    Friday, January 8, 2010

    Dividend declared by HDFC Long Term Advantage Fund

    HDFC Mutual Fund has declared dividend under HDFC Long Term Equity Fund, Dividend is 12.50%. The record date is January 8, 2010.

    HDFC Longterm Advantage fund is an ELSS tax saving Fund and on an average in past 1 year its return is 93%  and that of sensex is 86%. If you look at the long term return of over 5 years then the return is 20% compounded annually compared with sensex return of 22%.