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.