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Tax Planning
Tax planning means an exercise carried out by an income tax payer in order to comply with his tax obligation in a systematic and orderly manner and thereby availing all possible exemptions and deductions available under the Income Tax Act, as may be applicable in his case.
Why money plant consulting as your tax designer!!!
The answer is our passion to let your money work hard for you and help you in designing your taxes with our unique & customized personal tax designer system^ which aims to provide you:-
Sound tax advice backed by sound research
A wide basket of products like PPF, Insurance , Mutual Funds (ELSS), Home Loan etc.
Personalized service matching to your unique tastes, needs and requirements
More than 100 man hours of experience in the financial services spectrum
An ever expanding network of resources to provide all services at your door step
Salary structuring/ restructuring
Innovative solutions for tax planning
How 80C makes your life better!!!
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PF / PPF
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NSCs
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Mutual Funds ( ELSS )
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Insurance Premium / ULIPs
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RS. 1,00,000
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Tuition Fees
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Principle repayment of housing loan
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Bank deposite for a 5 year period
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Comparison of PPF | NSC | MF
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Public Provident fund |
National Saving Certificate |
Mutual Funds |
| Return |
8% p.a. |
8% p.a. |
15-20%* |
| Min./Max. amount |
Rs. 500 / 70,000 |
Rs. 100 / No limit |
Rs. 500 / No limit |
| Lock-in Period |
15 Years |
6 Years |
3 Years |
| Tax Benifits |
U/S 80C |
U/S 80C |
U/S 80C |
| Liquidity |
Partial |
Not Liquid |
Liquid |
| Returns |
Tax Free |
Taxable |
Tax Free |
| Risk |
--- |
--- |
High |
*subject to market conditions
TOP
Top Mutual Funds ELSS performance
| Fund name |
1-Year Return (%) |
3-Year Return (%) |
5-Year Return (%) |
NAV (as on feb. 20 2008) |
| Birla Sun Life Tax Relief 96 |
36.17 |
40.78 |
47.11 |
128.89 |
| Fidelity Tax Advantage |
27.82 |
--- |
--- |
16.45 |
| Franklin India Taxshield
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26.37 |
34.30 |
45.80 |
164.53 |
| HDFC LT Advantage |
17.74 |
31.27 |
51.08 |
109.76 |
| HDFC Taxsaver |
17.33 |
37.07 |
53.95 |
170.71 |
| ICICI Prudential Tax Plan
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16.73 |
30.83 |
53.25 |
105.07 |
| Magnum Taxgain |
26.49 |
51.32 |
69.70 |
57.61 |
| Principal Personal Tax Saver
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44.13 |
40.55 |
46.45 |
170.44 |
| Reliance Tax Saver |
11.56 |
--- |
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16.41 |
| Sundaram BNP Paribas Taxsaver
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36.14 |
40.54 |
52.99 |
37.78 |
ULIP v/s Tradition Plans
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ULIP
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Traditional Plans
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Term --->
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Shorter term (3 year)
Benefit term = 20-25 yrs.
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Longer term (20-25 Years)
Benefit term = 20-25 yrs.
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Returns --->
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High Risk / High Returns
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Low Risk / Low Returns
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Premium --->
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Choice of Investor
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Predecided by Company
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Life Cover --->
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Up to 50 times of cover
i.e. Premium = Rs. 50,000
Then Insurance Cover = Rs. 25,00,000/-
Minimum PPT = 3 years
Age = 28 yrs.
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Fixed Premium = Rs. 1,10,000 (approx)
Minimum PPT = 25 yrs.
Age = 28 yrs.
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For more details about respective options and product schemes please refer to various sections on Mutual funds, Insurance, financial planning.
Tax Slabs :-
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Tax Rate
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0%
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10%
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20%
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30%
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Individual
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0 - 1,50,000
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1,50,001 - 3,00,000
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3,00,001 - 5,00,000
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5,00,001 and above
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Women
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0 - 1,95,000
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1,95,001 - 3,00,000
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3,00,001 - 5,00,000
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5,00,001 and above
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Senior citizens(age>65)
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0 - 2,25,000
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2,25,001 - 3,00,000
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3,00,001 - 5,00,000
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5,00,001 and above
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TOP
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