Monday, 31 January 2011

All India Consumer Price Index Numbers – Inflation is 9.47% for the Month of December, 2010

9.47% increase in inflation  recorded as All India Consumer Price Index Numbers for Industrial Workers on Base 2001=100 for the Month of December, 2010 increased by three  point and reached 185.

This Consumer Price Index is calculated on the basis of the index price in 2001 is 100 and in July, 2010 it was 11.25%, in August 2010 it was 9.88% in September, 2010 the Consumer Price Index was 9.82%, in October, 2010 it was 9.7% and in November, 2010 it was 8.33%. This index rate is calculated on the basis of the price difference of essential things like Rice, Wheat Atta, Mustard Oil, Chillies , Clothing, Turmeric powder, vegetable, fish etc. etc.

The Indices in respect of the six major centers are as follows

1. Ahmadabad             –          183


2. Bangalore                –          186


3. Chennai                    –         169


4. Delhi                        –          169


5. Kolkata                    –          180


6. Mumbai                   –          184


The difference in consumer price index influences the cost of living. So the Dearness allowance etc. is calculated without the difference of price index. Dearness allowance (July and January) is calculated on the basis of averages consumer price index for the last six months.

D.A from January 2011

As per our earlier post the chances of next DA will be 6%. Kindly see our earlier post.

Expected D.A for Central Government Employees is 6% from January 2011

The Impact when DA cover 50% range

Kindly see our earlier post for the impact of DA crosses 50% range

Expected Dearness Allowance from January 2011 and its impact

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New Mutual Funds Offers (January 2011 & February 2011)

There is a lot of Mutual Funds open in the Market. They are in Debt scheme and diversified Scheme. The NFOs (New Fund Offerings) and FMPs (Fixed Maturity Plan) are follows. Kindly read it in the order of Fund (Scheme) Name, Name of the fund house, Opening date, closing date and minimum amount required to be invested for each scheme. Invest in these schemes as per your investment goals and income potential. Read more about each scheme before you take a decision.

NFOs - Debt-Short Term Income Fund

Pramerica Short term Income(Dividend)
Pramerica Asset Managers Private Limited
Jan 27 2011
Feb 3 2011
Rs 5000

Pramerica Short term Income(Growth)
Pramerica Asset Managers Private Limited
Jan 27 2011
Feb 3 2011
Rs 5000

NFOs - Debt-Long Term Income Fund

Taurus Asset management Company Ltd
Jan 25 20100
Feb 8 2011
Rs 5000
Taurus Dynamic Income Fund (Growth)
Taurus Asset management Company Ltd
Jan 25 20100
Feb 8 2011
Rs 5000

FMPs – Debt Schemes

Axis Fixed Term Plan - Series 12 (367 Days) - (Dividend) Axis Asset management Compant Ltd Feb 3 2011 Feb 8 2011 Rs 5000

Axis Fixed Term Plan - Series 12 (367 Days) - (Growth) Axis Asset management Compant Ltd Feb 3 2011 Feb 8 2011 Rs 5000

Birla Sunlife FTP -Series CN(368D)(Dividend) Birla Sunlife Asset Management Company Ltd Jan 25 2011 Feb 3 2011 Rs 5000

Birla Sunlife FTP -Series CN(368D)(Growth) Birla Sunlife Asset Management Company Ltd Jan 25 2011 Feb 3 2011 Rs 5000

DSP BlackRock Fixed Maturity Plan - 12 Months - Series 13 (Dividend) DSP BlackRock Investment Managers Ltd Feb 2 2011 Feb 3 2011 Rs 10000

DSP BlackRock Fixed Maturity Plan - 12 Months - Series 13 (Growth) DSP BlackRock Investment Managers Ltd Feb 2 2011 Feb 3 2011 Rs 10000

DSP BlackRock Fixed Maturity Plan - 3 Months - Series 29 (Dividend) DSP BlackRock Investment Managers Ltd Feb 2 2011 Feb 3 2011 Rs 10000

DSP BlackRock Fixed Maturity Plan - 3 Months - Series 29 (Growth) DSP BlackRock Investment Managers Ltd Feb 2 2011 Feb 3 2011 Rs 10000

DWS Fixed Term Fund - Series 79 (91 Days) (Dividend) Detusche Asset management (India)Pvt Ltd Jan 24 2011 Jan 31 2011 Rs 5000

DWS Fixed Term Fund - Series 79 (91 Days) (Growth) Detusche Asset management (India)Pvt Ltd Jan 24 2011 Jan 31 2011 Rs 5000

DWS Fixed Term Fund - Series 81 (370 Days) (Dividend) Detusche Asset management (India)Pvt Ltd Jan 28 2011 Feb 1 2011 Rs 5000

DWS Fixed Term Fund - Series 81 (370 Days) (Growth) Detusche Asset management (India)Pvt Ltd Jan 28 2011 Feb 1 2011 Rs 5000

DWS Hybrid Fixed Term Fund - Series 2 (3 Years) (Dividend) Detusche Asset management (India)Pvt Ltd Jan 27 2011 Feb 10 2011 Rs 5000

DWS Hybrid Fixed Term Fund - Series 2 (3 Years) (Growth) Detusche Asset management (India)Pvt Ltd Jan 27 2011 Feb 10 2011 Rs 5000

FT FTF -Series XV-3 YRS(Dividend) Franklin Templeton Asset Management(I) Pvt.Ltd Jan 17 2011 Jan 31 2011 Rs 10000

FT FTF -Series XV-3 YRS(Growth) Franklin Templeton Asset Management(I) Pvt.Ltd Jan 17 2011 Jan 31 2011 Rs 10000

ICICI Pru FMP - Series 54 - 24 Months Plan A (Dividend) ICICI Prudential Asset management company  Ltd Jan 17 2011 Jan 31 2011 Rs 5000

ICICI Pru FMP - Series 54 - 24 Months Plan A (Growth) ICICI Prudential Asset management company  Ltd Jan 17 2011 Jan 31 2011 Rs 5000

ICICI Pru FMP - Series 55 - 1 Year Plan A (Dividend) ICICI Prudential Asset management company  Ltd Jan 20 2011 Feb 01 2011 Rs 5000

ICICI Pru FMP - Series 55 - 1 Year Plan A (Growth) ICICI Prudential Asset management company  Ltd Jan 20 2011 Feb 01 2011 Rs 5000

ICICI Pru FMP - Series 55 - 15 Months Plan A (Dividend) ICICI Prudential Asset management company  Ltd Jan 19 2011 Jan 31 2011 Rs 5000

ICICI Pru FMP - Series 55 - 15 Months Plan A (Growth) ICICI Prudential Asset management company  Ltd Jan 19 2011 Jan 31 2011 Rs 5000

IDFC Fixed Maturity Plan - 100 Days - Series 1 (Dividend) IDFC Asset Management Company Private Ltd Jan 28 2011 Jan 31 2011 Rs 10000

IDFC Fixed Maturity Plan - 100 Days - Series 1 (Growth) IDFC Asset Management Company Private Ltd Jan 28 2011 Jan 31 2011 Rs 10000

JM FMF - Series XIX -367 D Plan A(D) JM Financial Asset Management Pvt.Ltd Jan 27 2011 Feb 2 2011 Rs 5000

JM FMF - Series XIX -367 D Plan A(Growth) JM Financial Asset Management Pvt.Ltd Jan 27 2011 Feb 2 2011 Rs 5000

L&T Fixed Maturity Plan - Series Il (15 months A) January 11 (Dividend) L & T Investment management Ltd Jan 24 2011 Jan 31 2011 Rs 5000

L&T Fixed Maturity Plan - Series Il (15 months A) January 11 (Growth) L & T Investment management Ltd Jan 24 2011 Jan 31 2011 Rs 5000

Principal PNB Fixed Maturity Plan - 367 Days Series Ill (Dividend) Principal PNB Asset Management Co Pvt Ltd Jan 24 2011 Feb 7 2011 Rs 5000

Principal PNB Fixed Maturity Plan - 367 Days Series Ill (Growth) Principal PNB Asset Management Co Pvt Ltd Jan 24 2011 Feb 7 2011 Rs 5000

Reliance Fixed Horizon Fund - XVIl - Series 13 (Dividend) Reliance Capital Asset Management LTD Jan 21 2011 Feb 04 2011 Rs 5000

Reliance Fixed Horizon Fund - XVIl - Series 13 (Growth) Reliance Capital Asset Management LTD Jan 21 2011 Feb 04 2011 Rs 5000

Reliance Fixed Horizon Fund - XVIl - Series 7 (Dividend) Reliance Capital Asset Management LTD Jan 21 2011 Jan 31 2011 Rs 5000

Reliance Fixed Horizon Fund - XVIl - Series 7 (Growth) Reliance Capital Asset Management LTD Jan 21 2011 Jan 31 2011 Rs 5000

SBI Magnum Debt Fund Series - 15 Months (6) (Dividend) SBI Funds Management Private Ltd Jan 27 2011 Feb 3 2011 Rs 5000

SBI Magnum Debt Fund Series - 15 Months (6) (Growth) SBI Funds Management Private Ltd Jan 27 2011 Feb 3 2011Rs 5000

NFOs - Equity Diversified

Axis Midcap(Dividend) Rs 5000 Axis Asset management Compant Ltd Jan 31 2011 Feb 14 2011 Rs 5000

Axis Midcap(Growth) Axis Asset management Compant Ltd Jan 31 2011 Feb 14 2011 Rs 5000 NFOs – Balanced

Fidelity India Childrens Plan - Education Fund (Dividend) FIL Fund Mangement Private Ltd Jan 17 2011 Jan 31 2011 Rs 5000

Fidelity India Childrens Plan - Education Fund (Growth) FIL Fund Mangement Private Ltd Jan 17 2011 Jan 31 2011 Rs 5000

Fidelity India Childrens Plan - Marriage Fund (Dividend) FIL Fund Mangement Private Ltd Jan 17 2011 Jan 31 2011 Rs 5000

Fidelity India Childrens Plan - Marriage Fund (Growth) FIL Fund Mangement Private Ltd Jan 17 2011 Jan 31 2011 Rs 5000

Fidelity India Childrens Plan - Savings Fund (Dividend) FIL Fund Mangement Private Ltd Jan 17 2011 Jan 31 2011 Rs 5000

Fidelity India Childrens Plan - Savings Fund (Growth) FIL Fund Mangement Private Ltd Jan 17 2011 Jan 31 2011 Rs 5000

Sunday, 30 January 2011

Various Investment Methods for Investors

Following are some investment options which are helpful for new investors or beginners. These are not only for beginners but for all investors. But this is given for the information of beginners in investment field. These are only a brief explanation for each type of investment products and if you need to know more about any item use the search box below or search with any other search engines.

401K

This is a type of investment where an employer deduct money from the employee’s salary and deposited in various investment options as per the option of the employee and the part of salary invested in 401K is exempted from tax and interest earned for the same is also exempted from Tax till it is withdrawn. The 401K is in United States and the employer also contribute almost same amount. This invested amount can be utilized for the retirement needs of the employee.

Employees Provident Fund

This is also just like 401K and a percentage of the salary deducted and deposited in the Fund or any registered trust for the retirement or any important financial goals of the employee. The employer also invest the same and both the amount deducted from the salary and the interest earned also exempted from Income Tax.

Voluntary Provident Fund

The employee can direct the employer to deduct an additional amount from his salary other than provident fund and deposit in the same fund as provident fund. No tax will be levied for the VPF amount and interest thereof.

Life Insurance

Life Insurance policies assure a certain amount at maturity or the death/disability of the insurer. This cannot be considered as an investment but it is a deemed investment. Insurance Companies allowed bonus or any other type of profits for each policy as per the terms of the policy. The premium amount deposited in Life Insurance policies, the maturity value and the claim amount are also exempted from tax with some limitations.

Shares of companies

Shares or stocks are small units of the shared ownership of a company. One can invest in stocks and can earn a part of profit of the company as dividends. You can sell the shares to the share market and can fetch profit from the changing market value of shares. One can trade with shares to get more profit.

Bonds

Bond is also an investment instrument where you can invest money and can earn a guaranteed pre determined interest. This can be done with government or any companies. Bond is a safe or low risk investment and the guaranteed interest can be collect periodically or lump sum with post dated cheques or Electronic clearance (ECS) as per the terms of each bonds.

Mutual Funds

Mutual funds are also investment option where the pooled money of a set of investors investing in shares, securities and other money market instruments by fund houses.  Mutual Fund is a good investment option for the investors, those who do not know how to invest in shares and also wish to earn money from share markets. An expert fund manager will handle the money and investment portfolio.

Money Market Funds (Money Market Mutual Fund)

This type of funds is issued by Mutual funds, banks or brokerage firms. Normally this is a short term investment and the fund holders get interest. This money is invested in high quality securities, liquid and debt instruments. This is a low risk investment option.

Unit Linked Insurance Plan

ULIPs are financial products of insurance companies which have double effects as insurance and the units are act as mutual funds. You will get the insurance protection and growth of your investment from shares, securities and money market instruments.

Annuities

Annuities are onetime payment to the insurance company to get back a regular income for a fixed period of time or till the death of the investor whichever is earlier.  Good for retired people to get a fixed amount just like pension.

Certificates of Deposit (CDs)

Certificates of Deposits are a type of deposit where you can deposit money and can earn interest a little bit higher than savings account. This also may call fixed deposits and a very safe method of investment. You can withdraw the money after the time period or whenever you require money.

Investment in Properties

You can purchase house property; land etc. and can get rent for letting out or can make profit from resale of the property. You will get a regular rental income or profit from the escalated price. Real estate investment is a better option of investments.

Gold and Precious metals

You can purchase gold, silver and other metals and can sell it off when you need money or when the price is high in the market. The price of gold shows only an upward trend and you will not lose your money. When you buy gold for investment purpose, buy pure gold (24 K) in the form of bullion, coins or bars. When it will in the form of ornaments the purity may be compromised.

Currency Trade (forex)

Currency exchange is also a method of making profit and you should be experienced for the same. Some forex sites allow you to start a free demo account with virtual money and after getting enough experienced, you can shift to real trade.

Antiquities

Precious Old and ancient arts, crafts and other equipments can be collected and sold for profit. But always check with concerned government departments, because some ancient items cannot be purchase or sold legally.

All the above options are good for making more money through investments, but remember that the profit or loss is in the hands of the investor. Remember the universal rule of investment is that “do not put all your eggs in one basket”. Diversify your investments and play with your hard earned money wisely after enough research and analysis.

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Saturday, 29 January 2011

File Your Income Tax Return Carefully

Every individual person those who have a taxable income should submit income tax return. IF your income is more than Rs. 160000 (for Gents), Rs. 190000 (for Ladies) and Rs. 265000 (for Senior citizen – those who have completed 65 years) for the Financial year 2010-11 (Assessment Year 2011-12) is liable to submit Income Tax return, even if your employer deducted your tax or not.  You can submit Form ITR-1, if your source of income is only from salary or pension and interest. But if you have more source of income such as capital gain or rental income you should choose the Form ITR-2.

You can file your Income tax return manually or through electronic filing. The last date of submitting your Income Tax return is 31st July. If you are submitting it through electronic filing without digital signature, you have to submit the ITR-V form (which can download after uploading electronic return) to the concerned officials within 30 days. If not it will be considered as you have not submitted Income Tax Return.

As per the current Income Tax rules the dividend income received from mutual funds, long term capital gain on securities etc. are exempted from income tax, but you are liable to report such income through your Income Tax return, even if you are not liable to pay any income tax for the same.

You are also liable to reveal your financial transactions more than a certain limit such as your credit card transactions more than or equals to Rs. 2 lakh for the year, purchase of shares of a company more than Rs. 1 lakh, purchase of mutual funds more than Rs. 2 lakh etc.,

Income received by a minor child should be considered as the income of the highest income parent and should be included in your income tax return as income and taxes to be paid accordingly.

Do not forget to include your interest income even though it is a small amount or not. All interest income is taxable without any exemption and can be traced by the ITO easily. If you are an employee, disclose all your interest income to the employer in time and allowed him to deduct the tax accordingly. Then you can avoid last minute extra tax payment.

You have to submit the correct details of your bank account number, MICR code etc. for the proper and timely refund of your excess tax if any.

If you are doubtful for any tax rules and filing tax return, get help of any tax experts or online tax help. The income tax authority is also ready to help you for filing your income tax return correctly. Do not hesitate to seek help. It is better to file the correct return than filing a wrong return. So file your Income Tax Return correctly and promptly and be a proud citizen of our nation.

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Friday, 28 January 2011

Online Banking is a convenient method of banking

In this fast developing world everybody wants things to be happened in no time. Internet and modern communication methods and devices allowed you to get all information handy and reduce the distance from one place to another. Earlier there were joint families and now the family is not living jointly together and scattered around the world. Yes we are ready to accept the universal family with the communication methods which allow them to be together easily and conveniently. At this scenario the traditional banking method also going to history. Online banking facilities are everywhere.  You can handle all your financial transactions through a few mouse clicks.

Now almost all banks allow online transactions and provide online services for the convenience of their customers. Let us go through some important advantages of online banking.

One of the important and popular advantages of online banking is that you can know your banking transactions easily and at any time from your home or office with the help of a computer and internet. Earlier you had to stand the long queue to update your passbook or should wait for the mercy of banking clerk to know whether your cheques are cleared or not or the status of any other transactions. Now these transactions are handy.

You can pay your utility bills and credit card bills easily with online banking service and can avoid the fear of dishonor your cheques which you deposited after standing a long queue. If one of your cheques dishonored, you may have loss of money and some other type of losses including loss of faith, bad credit report etc.

You can get your bank statement online whenever you need and can cheque all your transactions. You can provide the hard copy of your bank statement to any agencies etc., without visiting your bank.

You can Transfer money from one bank account to another easily through online. Transfer money from one of your bank accounts to another and also can transfer to anybody else’s bank account to any location is easy through online banking. Earlier this was a very time consuming effort and now it is very easy in no time. Most of the banks are not charging money for this online transfer.

There are so many other advantages also for online banking. But you must be vary careful, while doing these online banking transactions. Obey all the directions and security measures of your bank for the safety of your money and bank account. Change password frequently and should not reveal the pass word and user id to anybody else, do not try to sign in your online bank account from any public places or from any public computers etc., are some of the important security measures. Even if  there are certain disadvantages, the online banking is very much convenient in this modern busy world.

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Thursday, 27 January 2011

LIC Pension plus a Guaranteed Unit linked Pension Plan

LIC Pension Plus offers you 3% Guaranteed minimum rate of interest and the maximum interest is 6%. This rate of interest is allowed to gross premium and also offer the growth opportunity as a Unit Linked Insurance Plan (ULIP). The LIC Pension Plus plan is a low-premium plan which allows two investment options (funds) named debt fund and mixed fund. One is purely debt oriented for safe investors and the other one is a certain percentage of equity investment also for medium risk investors.

LIC offer a low cost structure for this pension plan also, like all other LIC plans. They charge only Rs. 360 for the whole year. And every year the charge will be increased by 3%. As per the IRDAs direction the policy guarantees a minimum return on investment on maturity.
You can pay the premium with a convenient option of monthly, quarterly, half yearly and annually. One time single premium is also allowed for those who are interested to do so. For the investment purpose you can pay additional premiums also.

The pension scheme could not withdraw fully as per the current regulations. The investor must purchase annuity for at least two third of the accumulated corpus. An investor may withdraw money and can purchase annuity after five years of lock in period.

As we mentioned at the beginning there is two types of funds in this scheme. One is low risk debt fund which is invested around 60% of the money in Government securities, government guaranteed securities or corporate debt and around 40% of the fund in Money market instruments and short term investment instruments. The second type of Fund is lower or medium risk mixed fund which invest around 45% in government securities, government guaranteed securities or corporate debt, around 40 % in money market instruments and around 15% in listed equity shares.

This is a good pension plan for private employees who do not have a pension from the employer and it assures minimum guaranteed interest and the chance of growth as a market linked insurance plan which may get an excellent return. The compulsory purchase of annuity is assures the purpose (pension) and there will be a regular income when the annuity starts. The convenient modes of premium payment are suitable for all type of income group.

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IDBI Retiresurance, a unit linked pension plan




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Wednesday, 26 January 2011

Fund of Funds (FOF) is the best option for Mutual fund investors.

You must have heard a lot about mutual funds and most of our readers are already investors of mutual funds. As you are aware that mutual funds are the easiest way of invest in equity market, bonds and other money market instruments. Portfolio Diversification, expert professional management, low transaction cost, low risk factor, high liquidity .safety and convenience to handle etc., are some of the advantages of mutual funds. But there are some disadvantages also in mutual fund investing. The main disadvantage is that the difficulty in choosing a perfect and suitable mutual fund among plenty of mutual funds available in the market. The solution is fund of funds.

Fund of funds is also a mutual fund, but invest the pooled money of investors in selected mutual funds by the expert fund managers to get more profit from best performing mutual funds. Normally mutual funds invest in shares and other money market instruments. But fund of funds invest in different mutual fund schemes to get maximum advantage. It reduces the investor’s difficulty to choose the right mutual fund.

This fund of fund reduces the risk of investing in various low performing mutual funds. It helps the investor to get more diversity of their investment. All these diversities are unified in fund of funds. The investor should not switch over from mutual funds to funds and can reduce the difficulty of screening all mutual funds he has invested to know the performance of his investment. As he could reduce the number of schemes he can reduce the cost of investment also. The investor can get benefited from top level mutual funds which can be invested only by institutional investors or large scale investors. The investor can get the expert performance of various fund managers where the investments are done through fund of funds.

There are certain disadvantages also in fund of funds. The main disadvantage is that the cost may be more than other mutual funds because it has a hidden cost of other mutual funds which the fund of fund invested in. The possibility of invest in same shares repeatedly through the various mutual funds subscribed by fund of funds which may invest in same stocks. The tax implication of fund of funds is same as the taxability of debt funds, not the taxability of equity funds, even if the mutual funds invested by fund of fund are equity schemes.

AIG World Gold Fund, DSP BlackRock World Gold Fund, Quantum Equity fund of fund, Mirage Asset China Advantage Fund (regular plan) and Kotak Equity FOF are some examples of fund of funds

If you are not able to choose the right mutual fund, fund of funds is the best option for you. The expert fund managers will choose for you and you can enjoy the best fruits from the mutual funds.

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Tuesday, 25 January 2011

Favorable Credit Information Report is required for availing loan from any financial Institution

In this modern era almost all people are approaching banks or any financial institution to take loan to meet any of their financial needs such as buying a house, doing business, marriage of self or children, education or self or children, purchasing a car etc. etc. But do you understand that the possibility or getting a loan is very less than not getting a loan. There are so many factors to be considered by a money lender or any lending agency to grant a loan.

The primary intention of the lending agency is that to know whether you will repay the loan amount or not, even if it is secured by proper collateral security. They will guarantee the repayment before sanctioning you the loan amount. For this purpose they will check whether you are a defaulter on any of your payment including credit card, utility bills or any previous loan amount. You may be wondering how they check these details. This is very much easy through Credit information agencies. Credit information agencies are there in almost all countries. In India there is Credit Information Bureau (India) Limited (CIBIL),  Credit bureau (United States), Credit Reference Agency (United Kingdom) etc are also examples of Credit Information Agencies.

This Credit Information Agencies collect all possible information from banks, financial institution and money lenders etc., and keep a credit history of almost all people who deal with credit cards or any type of loan. When you apply for a loan the money lenders check with such credit information agencies before sanction your loan. They can get an idea about your loan repayment nature and the history or your past and present loan.

If you have a poor repayment history of credit card or loan repayments or if you have already taken so many loans and you have not that much income to pay off all such loans, if your residential address has a defaulter history (Anybody who stayed in your residential address earlier and made default of any loan amount), if your co applicant is a loan defaulter or if you become a guarantor for somebody else and he or she is a defaulter, the Credit reporting agency has a track record of all of them and the possibility of getting you a loan is very less.

So before applying for a loan you must check with the Credit Information Agencies that your credit report is favorable or not.  You can collect a copy from them and study it well and if there is any false information about you, you should approach the related bank or financial institution, collect the proof and submit it to the credit information agency to update the correct information.

How can you collect your credit information report?

You can get your credit information report from Credit Information Bureau (India) Limited (CIBIL) through submitting application in filled CIR Request Form with Identity Proof such as PAN Card, Passport or Voters Identity Card and required fees through online payment or Demand Draft.

You can pay the required fee through online also by completing the following steps.

Fill up the CIR request form by online and pay the required fee through net banking or credit card.

Get registration ID and transaction ID via email and send it to CIBIL with Identity proof through post.

Download CIR Request form CIBIL

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Monday, 24 January 2011

Highlights of Job Vacancies in the Employment News 22 January 11 - 28 January 11



There are new job vacancies published in the Employment News edition 22nd January, 2011 and 28th January, 2011. For detailed advertisement please visit the website of Employment News or read the related issue. The Educational qualifications, work experience, maximum age and all related details are there in the Employment News Vacancy. This is just a highlight for the awareness of our readers and job seekers.

Various Posts in Union Public Service Commission.



Vacancy of Officer MMG Scale-II, Officer JMG Scale-I and Office Assistant in Gurgaon Gramin Bank



Vacancy of Clerical Staff in Bank of Baroda.



Application for Trackman, Token Porter, Gate Keeper and Helper-II invited by Railway Recruitment Cell, East Coast Railway



Application for Short Service Commission in Flying Branch and Permanent/Short Service Commission in Technical and Ground Duty Branches invited from Male Indian Citizens by Indian Air Force.



Application for Short Service Commission in Flying, Technical Branch and Ground Duty Branches invited from female Indian Citizens by Indian Air Force.



Various posts in Mahanadi Coalfields Limited.



Vacancy of General Managers, Additional General Managers, Deputy General Managers and Managers in Garden Reach Shipbuilders and Engineers Ltd.



Vacancy of Social Security Officers/Managers Grade-||/Superintendents in Employees State Insurance Corporation, New Delhi.



Vacancy of Addl. General Manager, Dy. Managers and Rajbhasha Adhikari in Power Grid Corporation of India Limited.



Vacancy of Readers and Senior Lecturers in Chandigarh Administration.

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List of Allowances increase 25% when Dearness Allowance Reached 51%




As per the recommendations and approval of 6th Central Pay Commission some allowances and advances increase by 25% when the Dearness allowance reached 50% or more. From this January, 2011 the Dearness allowance has been increased by 6% and the … Continue reading ?


Monthly Provident Fund Statement to all PF Subscribers

Due to high defaults in depositing provident fund contribution from the side of employers, the EPFO (Employees’ Provident Fund Organisation of India) decided to give monthly statement to subscribers instead of issuing one annual summary.  The EPFO expected to make … Continue reading ?

Sunday, 23 January 2011

SBI the largest nationalised bank earned13.45% net profit in the third quarter

State Bank of India, the largest nationalized Bank in India disclosed its Net profit for the third Quarter ended on 31st December, 2010 as Rs. 3806 Crore. This figure shows that the SBI has a growth of 13.45% in net profit form the 3rdst December, 2009. Qaurter ended 31

Last year the Bank got a consolidated net profit of Rs. 3354.94 over the same period.At the same time the Net Interest Income of SBI increased by around 40 percent in the third quarter amounting to Rs. 12,306 core against Rs. 8700 crore in the same period last year. Net Interest Income is calculated by reducing the interest paid form interest earned by the bank.

Total Income of SBI is increased by 14.7 per cent to Rs 36,966.87 crore in the Third Quarter (October-December 2010) from Rs 32,231.45 crore in the same quarter last year.

SBI is doing fine and getting benefited form the trust of their customers which they earn by hard work and well planned policies.

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Fidelity India Children’s Plan a Mutual Fund for your children’s financial needs

Fidelity Mutual fund came with Children’s Plan in the name of Fidelity India Children’s Plan, an open ended Mutual fund for satisfying the needs of your children such as education, marriage etc. This is a hybrid fund (A Mutual fund which is investing in a mix of stocks (around60%) and bonds (around 40%)-Single Mutual fund for diversified investments). This plan includes three mutual funds focused for education, Marriage and saving. Investment in Fidelity India Children’s Plan can be made in the names of children below the age of 18 years.

The New Fund Offer (NFO) already opened on 17th January, 2011 and the closing date is 31st January, 2011. This is the first time offer from fidelity mutual funds to satisfy the children’s need of the investor.

The important features of this Fidelity India Children’s Plan is that this scheme invest the pooled money of investors in debt and money market instruments for the investors who do not like high risk investments such as equity schemes and also for the investors who are very near to their financial goals. The marriage fund includes a portfolio of Gold ETFs also to protect from the rise of gold prices.

The Three funds of Fidelity India Children’s Plan are with varying asset allocation levels. The Prot folio of Education Fund is around 70% equity and 30% debt and over a long period of time this is able to provide funds for children’s education. The Portfolio of Marriage Fund is around 70% equity, 20% gold ETFs and 10% in debt and Savings Fund is up to 100% in debt and money market instruments to provide stability.

All these three type of funds are available in both growth and dividend options and the dividend option is also available in dividend payout and dividend reinvestment option.

There is an exit load for these fund and the exit load of Education and Marriage funds are 3% within one year, 2% between 1 and 2 years and 1% between 2 to 3 years.  But the exit load in Savings Fund is only 0.50% for the redemptions within 1 year.

The minimum amount of investment is Rs. 5,000 in onetime payment option and Rs. 500 (monthly, quarterly, half yearly or annual installments with the total minimum investment of Rs. 6000) in Systematic Investment Plan (SIP) option.   Systematic transfer (STP) and systematic withdrawal plans (SWP) are also available for this scheme. This scheme allows free switching between different options of the same fund or between different funds within the Plan and in the case of transfers under STP.

As per the available information this is a tailor made plan for the investment goals of investors' children and as a hybrid fund this helps the diversity in investment also. It seems that the first attempt of children’s mutual fund plan from fidelity mutual fund is welcomeable.

Download a free guide from fidelity teaches you how to save for children

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Saturday, 22 January 2011

Various methods to repay your loan amount

All we need money to survive and we find such money from our daily work or business. But sometimes we need more money for any particular purposes such as Marriage of self or children, buying a house, to start a business etc. etc. Normally what we do in such circumstances. We have to borrow that money if we don’t have enough money to meet the desired purpose. We can borrow from our relatives or friends if they have money or we have to approach any financial institution to get a loan. We know that we can avail so many types of loans as per our requirements and the amount of money we need. It may be easy to fulfill our desired goal with the loan amount. But the problem starts when we repay the loan amount. Sometimes we won’t have enough money to repay the installments. You might not be aware that a single default in repayment of loan may affect your credit report and the availability of loan in future. In such a situation we have to make it convenient our loan repayment. Here you can read different methods of repayment of a loan amount.

Equated Monthly Installments (EMI)

Normally almost all loans are repaying with EMIs (Equated Monthly Installments). It may also be called Equal Monthly Installments. It allows you to repay fixed monthly installments for a fixed period of time. Even if you are paying equal installments the amount you are paying in two parts. One is interest part and the other is principal amount repayment. In first few installments the interest part will be higher and the principal amount repayment will be less. And afterwards the principal part will be more than interest part. This method is convenient when you are a salaried employee or you have a fixed regular source of income. Only an equal amount should be paid all months till the loan fully reimbursed.

Flexible repayment method

This is another type of repayment method for a loan amount and in this option you can choose the repayment as per your own decision and convenience. As per your income you can arrange this payment and it will not give you much burden to repay your loan. Here are some important methods of flexible repayment methods.

Increasing EMI method

This reimbursement option allows you to start with a small EMI and when you get any other regular source of income or a promotion or increment you can increase the EMI amount and can reduce the number of installments. This method allows you to reduce the burden of repayment and also reduce the total interest payable for the loan. You can finish the loan earlier as you expected.

Step up loan repayment option.

In this type or repayment method the installments will be lesser at the beginning and the amount of installments will be increasing, installment after installment or year after year. This type of repayment method is convenient for the beginners of work or business and when they get more experienced in work or more improved in business the installments also will be increasing and they can easily repays the loan with their increasing income. The advantages of this type of loan repayment method are that the financial institution can allow a higher amount of loan than the amount can be allowed at the present situation of the borrower. They can consider the experience or improvement of the borrower.

Step down loan repayment option.

Step down repayment option is just opposite of the step up repayment option. The installment amount will be decreasing installment after installment or year after year. This is suitable for a person who is near to his retirement and when he is at work and getting a good salary he can pay a high amount and when he retire and getting pension which is always lesser than the salary and he could pay less amount of installments. This method is convenient to the financial institution to grant loan for a person who is near to his retirement.

Balloon repayment option

This can consider as a step up option, but in this option you could pay a very small amount of installments in the beginning and when the time goes up the installment amount also ballooning to a high amount than the normal step up option.

Onetime payment option

In this type of repayment option, the repayment is in a lump sum as per the convenience of the borrower, but within a stipulated time period. This type of loan repayment is normally seen in gold loan or other secured loan. But normally financial institutions does not prefer this scheme of repayment by the fear that the repayment may not be done. But as per the collateral security we have given, they may allow such type of repayment also. In this option the borrower can repay the interest portion time to time or can repay interest and loan amount in a lump sum.

You can choose anyone of the above mentioned repayment method as per your convenience and also as per the terms and condition of the financial institution. But we always advice that go for a loan only if it is an unavoidable circumstances and repay the loan as soon as possible.

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Friday, 21 January 2011

Monthly Income Plan (MIP) a Debt Oriented Mutual Fund

Monthly Income Plan or MIP is a type of Mutual fund which distributes the profit monthly in the form of dividends to unit holders. As the case of other mutual funds monthly income plan also invest the pooled money of unit holders in financial instruments and equity shares. But a greater portion of money (75- 100%) will be invested in secured investments such as debt and money market instruments and only a small portion of money (0-25%) will be invested in equity shares.

Even if the Monthly Income Plan gives out regular dividend we could not assure a guaranteed amount of return as it is a mutual fund investing in other financial instruments including equity shares and the return may be vary as per the performance of the Fund and also as per the market trend. The fund value may be less or high than our capital amount and we could not guarantee the amount invested also. But the Monthly Income Plan managed by a good fund manager may give good return than any other monthly income investments such as fixed deposits or Post office Monthly Income Plan. When the market trend is bullish the equity investment of MIP provides additional income.

Who can invest in Monthly Income Plan?

The investors,

those who can play with a large amount of money,

those who wish to get return with regular intervals,

those who wish to try a small portion of money in equity market,

those who can bear a small amount of risk with their investments,

those who have no any other source of monthly income and

those who are near to retire from their employment,

can invest in Monthly Income Plan.

Features of Monthly Income Plan



You have to pay for an exit load if you redeem it within a year. IF you are not ready to bear the exit load, hold the fund at least for more than one year.

There may be an adverse return also for a Monthly Income Plan especially for a short period, so keep the MIP for a long period, if you expect a positive return.

The monthly return from the MIP is in the form of dividend and as per the current tax rule there is no tax or TDS for this dividend income but the there is a dividend distribution tax and this will be affected the Net Asset Value (NAV) of the MIP. There is a capital gain tax also in the hands of the investor as per the time period of holding the MIP. (If you redeem before one year there will be short term capital gain and more than one year there will be long term capital gain)

The Monthly income plan does not guarantee the monthly income. The fund managers will try their level best to give out monthly dividends. If the fund is not performing well due to various reasons they cannot provide you a monthly outcome.

You can compare only with debt funds or fixed deposits, because it is a debt fund in nature and deposit a large portion of money in debt schemes, Money Market instruments, gold etc. and only a small portion of money in equities. So you can compare the scheme only with other debt funds, not with equity funds.

Following are the list of Monthly Income Plans in India

Bharti AXA Regular Return Fund

Birla Sunlife MIP

Canara Robeco MIP

Franklin Templeton India Monthly Income Plan

HDFC MF Monthly Income Plan

HSBC MIP

ICICI Prudential Monthly Income Plan

ING MIP Fund

Kotak Income Plus

Principal Monthly Income Plan

Reliance Monthly Income Plan

Religare MIP

Religare MIP Plus

SBI Magnum Monthly Income Plan

Sundaram Monthly Income Plan

Tata MIP Plus

Taurus MIP Advantage Fund

UTI MIS Fund

If you wish to get a regular income and also ready to bear a slight chance or risk go for monthly Income plan. When you invest in any MIP, read well about the plan and related matters before investing.
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Thursday, 20 January 2011

Job Vacancies in Employment News 15 January 11 - 21 January 11

Employment News is a weekly which publish job vacancies and realted information. Most of the job vacancies are Government Jobs and Job Vacancies from government Companies. Following are the highlights of job vacancies in the Employment News 15th Jan 2011 to 21st January 2011. For More details please visit the website of employment news or read the hard copy of Employment News in the same edition.


Various Employment opportunities are invited by Staff Selection Commission, Eastern Region.

Medical Officers are wanted by Nuclear Power Corporation of India Limited.

Probationary officers are required for Bank of Baroda.

Officer Scale-I and Officer Assistants for Uttranchal Gramin Bank

Trackman, Gateman, Khalasi and Porter required for Railway Recruitment Cell, N.F. Railway.

Trackman/ Key man, Gateman/Troll man, Points Man, Peon etc. required for Railway Recruitment Cell, West Central Railway.

Directorate General Border Security Force requires Constables, Head Constables and ASI against Special recruitment drive for OBC/SC/SC candidates.

Chennai requires Fitter, Machinist, Welder, Electricians etc. required for Indian Ordnance Factory.

Steel Authority of India Limited, Tamilnadu requires Operator-cum-Technician-Trainees and Attendant-cum-Technician Trainees.

Management Trainees required for FCI (Food Corporation of India)

Airlines Attendants required for Air India Charters Limited.

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Wednesday, 19 January 2011

Tata Steel Issues (FPO) Follow on Public Offering today

Tata steel is in Tata Group of Companies earlier named TISCO and Tata Iron and Steel Company Limited and the largest steel producers in India (5th Largest steel producer in the world) and also the largest steel producing company in the private sector companies. Now Tata Steel issues FPO or Follow on Public Offering (FPO – A public offer after the IPO)  of 5.7 core shares with a face value of Rs. 10 with the price band between Rs. 594 to Rs. 610 and the minimum quantity of shares to be applied is 10.Bid open on 19th January, 2011 and closes on 21st January, 2011. The company expected to raise around Rs. 3500 crores.

The income which may be derived from the issue is supposed to spend for the expansion work at Jamshedpur and also may be spend for clearing the acquisition cost.

Tata Steel is the largest steel producer in India. Now Tata Steel is hitting market with follow on offer, the 5.7 crore shares will open from 19-Jan-2011 to 21-Jan-2011. The price band is fixed to Rs.594 to Rs.610 per share. It is expected to raise Rs.3500 crores approx.

As a top level private sector company the shares of Tata steel will be a worth for the investors.

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Tuesday, 18 January 2011

Rural Electrification Corporation Ltd (REC) issues Infrastructure bond under Section 80CCF

You are aware that you can save Rs. 20000 under section 80 CCF for getting additional tax exemption other than Rs. 100000 under section 80 C.  For this exemption you have to take infrastructure bonds from some approved institutions. There are a few infrastructure bonds of this kind are already issued and closed the issue after the specified closing date.  At present   Rural Electrification Corporation Ltd (REC), a Navaratna enterprise also comes with infrastructure bonds which can claim exemption under section 80CCF.

The issue is already opened on 12th January, 2011 and the closing date is 28th March, 2011. They are planning to collect Rs. 50 Crore by issuing One Lakh bonds of Rs. 5000 each. There are two options for these bonds. One is that you can withdraw money after 5 years (Buy Back Option) and the other option is that you can hold it till the maturity of 10 years. You can earn 8% annual interest for the first option and 8.1% annual interest for the second option. In both options the interest is payable annually through cheques Demand drafts or Direct Deposit as per your choice. There is no interest accumulation option is available. The minimum required investment is two bonds with Rs. 10000.

Even if this is an unsecured bond (no assets are backed for this bonds) the bond acquired a good credit rating by all major credit rating agencies. The credit ratings are AAA /Stable’ by CRISIL , ‘CARE AAA’ by CARE, ‘LAAA’ by ICRA and “AAA(IND) by Fitch.

The company planned to pay the first interest on 31st March, 2012 and the subsequent payments will be every 31st March till the redemption or buy back. The Bonds are expected to allot to the applicants on 31st March, 2011. The bonds will be listed in NSE and BSE.

By investing Rs. 20000 in such infrastructure bond the tax payers in top tax bracket (30%) can save a tax of Rs. 6180 (Tax Rs. 6000 and Education Cess Rs. 180). And others can save Rs. 4180 (20% tax bracket) and Rs. 2060 (10% Tax bracket). This is a good chance for tax payers to save tax at these 11th hours of the financial year.

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Delhi Government Decided to send Old-age pension through Bank Accounts only

The Delhi Government decided to give old-age pension only through banks. This has been given through post offices also. There are around three lakh old-age pensioners and around 81000 were accepting pension through post offices. Now they are compelled to open bank account within six months to receive their pension.

At a meeting of the Delhi Cabinet presided by Chief Minister Sheila Dikshit it was decided to pay the old-age pension through bank accounts only, said Social Welfare Minister Mangat Ram Singhal.

The Delhi government pays the old-age pension to poor people aged 60 years or above. The government hopes that paying through banks help to transfer the pension money smoothly. An official said that, they had decided to pay only through banks as that will help in smooth transfer of pension money. More than 2, 13,000 beneficiaries have already been receiving their pension through banks.

This is may be felt as difficult for some aged persons but for the time being this will be good for the pensioners.

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Monday, 17 January 2011

Snapshot – Drive less and save more in insurance cost every year

Have you ever heard that if you drive less your insurance cost also will be less? You must have heard that there are so many discounts are available for car insurance such as discount for safe drivers, safety measures, non claim discount, discount for college students, women drivers, discount for the second vehicles etc. etc. But here some insurance providers are ready to give a good discount for car insurance if they drive less than 15000 miles a year. Yes the Low-mileage drivers can save big on auto insurance rates.

Somebody drive only a few miles a day. For example Those who are in Metro cities prefer to use public transport to go workplace, A retired employee normally make short trips to any general stores or such urgent places, A housewife normally uses her car to take kids to school and back and to for some shopping purposes and those who work from home does not need to use his car more time.

Insurance providers allow a good percentage of discounts for such short driving vehicles. This pay as you drive program is name Snapshot which allow a discount up to 30% per year of their normal car insurance cost and at present this Snapshot is available in 25 states. Each state has its own insurance rules and the program should be approved on state by state basis.

This discount is allowed on the basis of how many miles the car is driven in the year and the time and method of driving. Because, driving at the midnight (midnight to 4 a. m) attracts more accidents. This Snapshot is allowed only for the cars built in 1996 or afterwards due to monitoring device (snapshot device) can be attached with it to know the time, mileage and driving style etc.

Some insurance providers allow this discount in 35 states and hope to offer the discount in every state at the end of the year 2011.

The less you drive, the higher you save,  ranging from 8% to 54%, For example, someone who drives between 10,000 and 12,000 miles may save 20%, while someone who drives 5000 to 10,000 miles per year may save 26% discount on standard rates. This is a good chance for common man who should not want to drive more in a year. He can save the fuel and insurance cost.

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IDBI Retiresurance, a unit linked pension plan




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Sunday, 16 January 2011

Incomesurance Endowment & Money Back Plan

IDBI Federal life Insurance Co. Ltd is a joint venture of IDBI Bank, Federal Bank and Fortis Insurance International. Earlier the name was IDBI Fortis Life Insurance and recently (August 2010) it was changed to IDBI Federal life Insurance Co. Ltd. Their insurance plans are Wealthsurance, Retiresurance, Incomesurance and Termsurance. IDBI Federal Incomesurance™ Endowment and Money Back Plan is one of their endowment insurance plans with money back facility. This assures guaranteed returns at the existing interest rates.

This insurance plan created with a foresight of meeting all your financial needs with a tailor made facility. This plan declares in advance an additional guaranteed income on every premium paid.

In the words of IDBI Fortis Life Insurance Managing Director and CEO, Nageswara Rao,
"Incomesurance is designed to give a guaranteed income to our customers for their child's education, planning for daughter's marriage, providing financial security and ensuring comfortable retirement income,"

This plan allows the customer to get a lump sum endowment or annual money back as per the options of the customer. The Premium allows you to get tax exemption under section 80C and the income received from the scheme is also exempted under section 10 (10D) of income tax rule and the insurer get death benefit also.

This plan is complete transparent and the insurer can choose Premium Payment Period, Payout Period, Payout Options, etc. The premium payment period can be opted as 5 years, 10 years or 15 years etc and is allowed to pay monthly, quarterly, half-yearly or yearly intervals.

One can take annual payouts or the accumulated interest can be withdrawn with maturity as per the requirements of the insurer. If the death of the insurer occurs the nominee can withdraw the money in lump sum or can receive periodical payouts.

The best thing of this Endowment Money back plan is that you can customize your plan based on your individual and family’s future financial needs.

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Saturday, 15 January 2011

Extra income or passive income helps you to support your financial needs

All we work for earning money to survive in this money dominating world. Without money we cannot support our family and give good education to our children etc. The price of all necessary items is skyrocketed and a common man is compelled to avoid not only the luxuries, but some necessities also. In such a scenario we can think about some extra income which is also known as passive income. Most of us are getting a few passive income in the form of bank interest or rental income. If we give a little attention, we can make a good passive income. I know some of my friends acting as insurance agents apart from their main job and make a good passive income. When we look for a source of passive income, try to select a method which is suitable for us, according to our taste and preference. If not we get bored and stop the extra work.

Following are some common source of passive income

Interest from investments A very common method of passive income and almost all are making some money out of their investments or bank accounts. You can increase this income by making some intelligent investment such as fixed deposits, term deposits, bonds, government securities, post office savings etc and this is a complete risk free method of passive income.

Rental Income Another method of passive income by letting out of your house property or commercial property, vehicle, tools etc.. If you can manage to own a property or any such things which can attract rent try for it and make a passive income.

Royalty If you can write a book or publish a collection of literature or articles you can make a good passive income in  the form of royalty.

Dividend You can earn dividend income by investing in shares and mutual funds. Be careful, because it may lead to loss also.

Capital gain You can earn a good income by selling properties or shares after a period of time. The value of property or good shares will be increased and can earn a profit out of it. Real estates, house properties, Gold etc, are good example of making profit from resale.

Residual income is another type of passive income such as agent commission from Insurance policies, or any affiliate sales which has a subscription nature. The agent or affiliate may get a residual income for the tenure of the policy or subscription alive.

Income from hobbies You can make money from hobbies such as painting or collections of antiquities, coins, stamps etc.

Agent Commission and brokerage If you have enough time and talent you can earn a good commission as a commission agent or broker or being a sub broker.

Income from blogs and internet You can make money from blogs and internet by sitting at home with your Computer.

Taking Tuition If you have enough knowledge and qualification you can take home tuition for school students and can earn a good passive income.

Teaching Music and dance This is also a good source of passive income, if you are talented enough,

Part time work You can work for part time with any establishments as your ability and can earn a good income.

The above items are some examples of making passive income and you can find more as per your experience and capability. Try to make a good passive income and live your life more fruit fully. But do not give a chance to devalue you main job or business.

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Friday, 14 January 2011

United States Government to offer prepaid debit cards for tax refund

The Treasury Department of United States wishes to pay tax refund through prepaid debit cards. This will be helpful for lower income tax payers those who do not have bank accounts and also can reduce the paper work and related expenses. They will be invited to activate debit card for getting direct deposit.

With the help of this debit card the card holders can withdraw their income tax refunds through cash counters or ATMs

The refund through paper checks cost more than that of direct deposit and around 600000 claims are there every year. Normally it costs around $ 600000 and if they made direct deposit it will cost around $60000 only.

There are around 600000 tax payers does not have bank accounts and the direct deposit to bank account is not possible for them. The importance or direct deposit debit card is here. According to the recent survey held by Federal Deposit Insurance Corporation, there are about nine million households do not have a bank account.  Some of them already closed their bank accounts due to the unbearable charges of fees and overdraft charges.

This new program will allow consumers to do a lot of useful transactions such as free bill payment, free ATM withdrawals and even allow making shopping with debit cards without any additional fees. This service may be with a lower rate of fees for somebody else and free for others according to some criteria.

As per the Treasury Department, it was also starting a pilot program to encourage some workers who receive wages through payroll cards—roughly 1.7 million people—to receive their 2010 tax refunds on those cards.

No doubt this is a useful program and the taxpayers should not wait more for the refund and also can reduce their cost of getting the refund and other daily expenses.

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Thursday, 13 January 2011

Calculate Your Income Tax Liability Automatically

This quick and easy tax calculator helps you to calculate your income tax liability automatically with giving your income and few details. The end of the financial year is almost at the doorstep. This is the right time to recalculate your tax liability. In case of employees the employer is deducting TDS (Tax deducted at source) and should not be much worry about the calculation of income tax. But you can also make this calculation easily and can double check the accuracy of TDS deducted by the employer and if you have any other source of income (passive income) you can add it up and recalculate the tax. Here we are giving some income tax details and a window for calculating your tax automatically.

How to use this Tax Calculation window

In first step you select the Assessment year (Assessment year is year after financial year, suppose 2011-2012 is the assessment year of financial year 2010-11)

Second step select the category such as Male (Gents less than 65 years), Female (Ladies less than 65 years and Senior citizen (both Gents and Ladies who have completed 65 years of age)

In the first box you can give gross salary (you can calculate the gross salary from the pay slips or from form 16)

In the Second input box give all exemptions under section 10 such as Transport allowance, LTC, HRA and all other permissible items up to the allowed limit.

In the third box give entertainment allowance (as per exemption limit) and professional tax

If you have income from any other sources such as rent, interest, Capital gain, income from business etc. ,input the total taxable amount of that income in the fourth box

In the Fifth input box give the total exemptions under sections 80C to 80U such as all permissible investments (80C), Pension Fund (80CCC), New Pension Scheme (80CCD), Infrastructure Bond (80CCF), Mediclaim (80D), Donations (80G), Rent paid(80GG) etc.

And in the final step Click on Calculate to get your Tax liability for the year.


To know the Tax rate see the table below

Following table shows the ax rates for Gents, Ladies and Senior Citizen for the financial year 2010- 2011 (Assessment year 2011-2012) with an illustration of a person in each category with a taxable income of Rs. 900000.

Taxable Income = Total income – All admissible deductions and exemptions

Tax rate for Gents (Age is less than 65 Years)













































Taxable Income up to Rs. 160000Nil160000Nil
Income from 160000 to 50000010%34000034000
Income from 500000 to 80000020%30000060000
Income more than 800000030%10000030000
Total900000124000
Education Cess (3% of Tax)3720
Total Tax to be paid127720

Tax Rate for Ladies (Age is less than 65 Years)













































Taxable Income up to Rs. 190000Nil190000Nil
Income from 190000 to 50000010%31000031000
Income from 500000 to 80000020%30000060000
Income more than 800000030%10000030000
Total900000121000
Education Cess (3% of Tax)3630
Total Tax to be paid124630

Tax Rate for Senior Citizen (Both ladies and Gents completed 65 years)













































Taxable Income up to Rs. 240000Nil240000Nil
Income from 240000 to 50000010%26000026000
Income from 500000 to 80000020%30000060000
Income more than 800000030%10000030000
Total900000116000
Education Cess (3% of Tax)3480
Total Tax to be paid119480

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