Tuesday, 31 January 2012

AICPIN (IW) for the month of December, 2011 is 197

All India consumer price index number for industrial workers for the month of December 2011(AICPIN (IW)) is 197. This is 2 points less than the AICPIN (IW) for November, 2011. Few hours before, Labour bureau of Government of India released the AICPIN (IW) for December, 2011 through a press release. AICPIN for the month of November, 2011 was 199 points and now it is decreased 2 points and reached back to 197 points.

The AICPIN – IW for the month of July 2011 was 193, in August AICPIN was 194, September 197, in October, it was 198 points and in November, 2011 AICPIN was 199 points. AICPIN (IW) is the base for calculating D.A (Dearness allowance of Central government employees.

The fluctuation in AICPIN is occurred due to the variation of the price of necessary commodities such as wheat, edible oil, rise, vegetable, firewood, kerosene, clothing, sugar and similar items. In December, 2011 the maximum decrease in Consumer price index numbers is recorded as 8 points in Ghaziabad and Jamshedpur centres and the maximum increase of6 points recorded in Coonoor centre.

The differences in indices of the six major centers are as follows: in the order of December, November, October, September, August and July 2011.

Centre                               Dec -  Nov -  Oct - Sept  -   Aug – July

1. Ahmadabad    -        190  -  192  - 195  -  193   -   191   -   188

2. Bangalore        -        199  -  200  - 198 -  197   -   194   -   194

3. Chennai            -        184  -  180  - 178  -  175   -   172   -   168

4. Delhi                  -        182  -  182  - 184  -  182   -   178  -   178

5. Kolkata             -        185  -  189  -  191  -  193   -   192   -   186

6. Mumbai            -        199  -  201  -  201  -  199  -   195   -   194 

Delhi shows the least point in index numbers and it is constant when compare to November, 2011. Mumbai shows the highest index number for December, 2011. But 4 centers show a diminishing tendency compare to last month while Chennai shows an increase of 4 points from last month. A majority of other centers also show a decreasing tendency which leads an average 2 point decrease of AICPIN (IW).

But the decrease of 2 points in AICPIN (IW) for the month of December, 2011 will not decrease the Dearness allowance which will declare with effect from January, 2012 and it would be 65% as we posted earlier. Then we can almost confirm that the expected Dearness allowance (DA) for January, 2011 is 65%. See the calculation of D.A

AICPIN (IW) for the month of December, 2011 is 197


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AICPIN for the month of November, 2011 is 199
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Monday, 30 January 2012

Job highlights of Employment News 28 Jan 03 Feb 2012

Government job lists published in employment news. Employment news is a weekly publish with government job vacancies. There is a lot of job vacancies published in the current Employment News. Following are the job highlights of employment news News 28th January 2012 to 03rd February 2012.Jobs vacancies in Indian army, oriental insurance company and many more.

Combined State/Upper Subordinate Services Examination- 2012 notified by Public Service Commission, Uttar Pradesh.

Administrative Officers (Scale-I) required by The Oriental Insurance Company Limited , New Delhi.

Head Waiter/Head Bearer required by Railway Recruitment Cell, North Eastern Railway, Gorakhpur.

Assistant Managers (Rajabhasha) in Grade ’A’ required by Reserve Bank of India (RBI) Services Board, Mumbai.

Chief Managers (Finance) and Senior Managers (Finance) required by Bank of Baroda.

Engineers and Professionals to be inducted as Management Trainees required in Brahmaputra Velley Fertilizers Corporation Limited.

Applications for various posts invited by Headquarters, Coast Guard Region (West), Mumbai.

Requirement of  Scientists in Defence Research and Development Organisation

REC (Rural Electrification Corporation Limited) requires Professionals in various disciplines including Special Recruitment Drive for SC/ST/OBC.

Applications for various posts invited by National Institute of Health and Family Welfare, New Delhi.

Applications invited from married/unmarried male and unmarried female as also from widows of Defence Personnel for Grant of Short Service Commission by Indian Army.

MES (Military Engineers Services) Headquarters Central Command, Engineers Branch Pin-900450, C/o 56 APO invites applications for various posts.

The abovementioned job lists are the job highlights of employment news 28th January 2012 to 03rd February 2012. Kindly read the employment news weekly for more details.

Job highlights of Employment News 28 Jan 03 Feb 2012


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Sunday, 29 January 2012

List of tax saving mutual funds (ELSS) & Fund houses

This is the time of tax saving investments and there are a few tax saving instruments to get income tax exemption under section 80C of income tax act. One can get income tax exemption up to Rs. 100000 of income under section 80C for the investment in any one or various tax saving schemes. You can invest in Equity linked tax saving schemes (ELSS) which also known as tax saving mutual funds to get income tax exemption under section 80C. ELSS allows the shortest lock in period of your investments. In ELSS (Tax saving equity linked mutual funds) you should lock your money only for 3 years to get income tax exemption. Other tax saving investments has a lock in period from 5 years or more.

To invest in Tax saving mutual funds you must know which mutual funds are tax saving plans. All equity related mutual funds are not tax saving mutual funds. You can see a lot of tax saving equity related mutual funds (ELSS) issued by various fund houses. List of such equity related tax saving mutual funds from various mutual fund houses is follows. You can select a few such mutual funds and search more about the fund and its performance before choosing one to invest for your tax saving investment under section 80C. The list shows the name of mutual fund and Name of fund house. Search with the name of mutual fund with any search engine to know more about the fund.

AXIS Long Term Equity Fund       - AXIS Mutual Fund

BNP Paribas Tax Advantage Plan (ELSS)   - BNP Paribas Mutual Fund

Baroda Pioneer ELSS `96   - Baroda Pioneer Mutual Fund

Bharti AXA Tax Advantage Fund – Eco   - Bharti AXA Mutual Fund

Bharti AXA Tax Advantage Fund - Bharti AXA Mutual Fund

Birla Sun Life Tax Plan - Birla Sun Life Mutual Fund

Birla Sun Life Tax Relief `96 - Birla Sun Life Mutual Fund

Canara Robeco Equity - Tax Saver - Canara Robeco Mutual Fund

DSP BR Tax Saver Fund - DSP BlackRock Mutual Fund

DWS Tax Saving Fund - Deutsche Mutual Fund

Edelweiss ELSS Fund - Edelweiss Mutual Fund

Escorts Tax Plan-(D) - Escorts Mutual Fund

Fidelity Tax Advantage Fund - Fidelity Mutual Fund

Franklin India Taxshield - Franklin Templeton Mutual Fund

HDFC Long Term Advantage Fund - HDFC Mutual Fund

HDFC Tax Saver Fund  - HDFC Mutual Fund

HSBC Tax Saver Equity Fund - HSBC Mutual Fund

ICICI Pru R.I.G.H.T. Fund - ICICI Prudential Mutual Fund

ICICI Pru Tax Plan - ICICI Prudential Mutual Fund

IDFC Tax Advantage (ELSS) Fund - IDFC Mutual Fund

ING OptiMix Retireinvest Fund - Series I - ING Mutual Fund

ING Tax Savings Fund - ING Mutual Fund

JM Tax Gain Fund - JM Financial Mutual Fund

JPMorgan India Tax Advantage Fund - JP Morgan Mutual Fund

Kotak Tax Saver - Kotak Mahindra Mutual Fund

L&T Tax Advantage Fund - Sr.I - L&T Mutual Fund

L&T Tax Saver Fund - L&T Mutual Fund

LIC NOMURA MF Tax Plan - LIC NOMURA Mutual Fund

Principal Personal Tax saver Fund - PRINCIPAL Mutual Fund

Principal Tax Saving Fund - PRINCIPAL Mutual Fund

Quantum Tax Saving Fund - Quantum Mutual Fund

Reliance Equity Linked Saving Fund - Sr.I - Reliance Mutual Fund

Reliance Tax Saver (ELSS) Fund - Reliance Mutual Fund

Religare AGILE Tax Fund - Religare Mutual Fund

Religare Tax Plan - Religare Mutual Fund

SBI Magnum Tax Gain Scheme - SBI Mutual Fund

SBI Tax Advantage Fund - Series I - SBI Mutual Fund

Sahara Tax Gain Fund - Sahara Mutual Fund

Sundaram Tax Saver - Sundaram Mutual Fund

Tata Infrastructure Tax Saving Fund - Tata Mutual Fund

Tata Tax Advantage Fund – 1 - Tata Mutual Fund

Tata Tax Saving Fund - Tata Mutual Fund

Taurus Tax Shield - Taurus Mutual Fund

UTI-Equity Tax Savings Plan - UTI Mutual Fund

UTI-Long Term Advantage Fund – UTI Mutual Fund

UTI-Long Term Advantage Fund - Sr.II – UTI Mutual Fund

UTI-Master Equity Plan Unit Scheme - UTI Mutual Fund

Union KBC Tax Saver Scheme - Union KBC Mutual Fund

You can choose from the above mentioned tax saving mutual funds. We strongly recommend reading and studying more about the fund you chose before purchasing one of them. Kindly read How to choose profitable mutual fund to invest and search with any search engine like google.com to analyse the fund.

List of tax saving mutual funds (ELSS)


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Saturday, 28 January 2012

Earn Regular Monthly income through Safe investments

Getting regular income is always acceptable and one can plan all his financial activities accordingly. Salaried people getting almost regular salary every month and can adjust their financial needs and investment needs. But both salaried people and others can earn additional regular monthly income through some brilliant way of investments. Salaried people can earn extra regular income and others can earn a good regular income through these investments, if they can invest a big amount of money. This is suitable for retired people to satisfy their financial needs without eating out their own principal investments. 

POMS or Post office monthly income scheme: Post office monthly income scheme gives you 8.2% (latest interest rate) interest per annum and this interest will be distributed monthly. The scheme is for 5 years (earlier 6 years). One can invest up to Rs. 450000 in single account or Rs. 900000 in joint account. An investment of Rs. 450000 in post office monthly income scheme gives you Rs. 3075 every month. Read more

Bank Fixed Deposits: Bank fixed deposits now offer high rate of interest and one can invest a sum in fixed deposit and can give standing instruction to the bank to credit monthly interest in your savings bank account. The interest rate will be a little bit high if you invest a large amount of money for a long period of time. Read more

Senior citizens saving scheme: A senior citizen, completed age of 60 years or a voluntary retired person of 55 years or more can open senior citizen saving scheme with a minimum amount of Rs. 1000 up to a maximum amount of Rs. 15 Lack. The interest rate is 9% per annum and the interest distribute quarterly. Maturity of the scheme is 5 years and can extend up to 3 more years. Even if the interest distribution is quarterly, one can assure a regular income. Read more

Monthly rent form letting out of properties: Real estate is a good investment method for getting regular monthly rent and appreciation of asset. But one must be very careful while letting out your properties. Do all legal formalities for the safer side of the landlord and tenant before letting it out. Then only this will be a safe monthly income option. Read more

Reverse mortgage: Even if it is not an investment and charge on your house property, reverse mortgage is a good method of getting regular money. This is suitable for retired senior citizen, who has a house property and has no any other source of income, this is a better option. Read more

All the above investments except reverse mortgage gives you a regular income without reducing your principal amount and a retired person or others can earn this income to add up with his other income.

Earn Regular Monthly income through Safe investments


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Thursday, 26 January 2012

Fund of Funds to simplify your investment process

As you know equity based mutual funds are the best instruments of investment to get profit from stock market without much effort. But there are plenty of mutual funds in the market. It is not easy to select few better mutual funds to invest. Fund of funds helps you to avoid the difficulties of choosing various better performing funds.

Fund of funds (FoF) is a mutual fund invests in other mutual funds of the same fund house or other fund houses. Funds may be equity funds or debt funds as per the nature of fund of funds.  The investor will get the benefit of all these funds by investing in a single fund of funds. It is a collection of various mutual funds.

The fund manager and team of fund of funds evaluate each fund before investing in a particular fund. As per the objectives of the fund of fund the team will decide the nature of funds invested in.

Advantages of Fund of funds

The main advantage of fund of funds is that it reduces the difficulties of selecting a number of funds and multiple investments.

The investor can avoid paying capital gain tax while transacting various funds as the transactions done by the fund of funds.

The investor should not verify the performance of various funds. He should check the performance of only one fund of funds.

The investor can get benefit from a group of mutual funds with the minimum investment of one mutual fund.

The experienced fund manager and team reduce the risk of wrong selection of funds.

Fund of fund is a one stop solution for all your investment needs.

Fund of fund is suitable for the investors with various risk profiles; it is available for equity, debt or commodities.

All research and analysis done by the fund house and the investor is free from all such tasks.

Disadvantages of Fund of funds

The investor has no any control in choosing mutual funds in fund of funds. The fund manager can change over to various funds without the permission of investor.

The fund of funds consider as a debt fund even if investing in equity funds and the dividend distribution tax and capital gain tax is payable as per the rules.

The expenses of fund of fund is high than other mutual funds. It bears the expenses of all mutual funds invested in.

The investor has no any choice for selecting funds under fund of funds.

Fund of funds also have the risk of selecting bad funds and the bad performance of other mutual funds invested by fund of funds affect the performance of fund of funds.

A Fund of fund bears all demerits of funds invested by the fund.

The market impact also reflects the performance of fund of funds.

Even if you should not monitor the performance of different funds, you should monitor the performance of fund of funds and if the performance is not favorable, you can withdraw your money.

The abovementioned disadvantages are there for all mutual funds. Fund of fund reducing a lot of demerits of mutual funds and a busy investor can trust fund of funds more than other mutual funds.

Fund of Funds to simplify your investment process


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Wednesday, 25 January 2012

LIC Jeevan Ankur child plan for the needs of child

LIC launched new child insurance plan named Jeevan Ankur. This is a child insurance plan may be called as child education plan or child protection plan. LIC Jeevan Ankur Child plan insures the life of insured parent for the protection of child and specially designed for the educational and other needs of your child. The jeevan ankur plan gives financial protection to your child as per the terms and conditions of the insurance policy, whether you survive or not. This child care plan is suitable for a parent with a child who is up to the age of 17 years.

LIC Jeevan Ankur child insurance plan gives the life cover of parent up to the sum assured and the term of the policy is as per the age of your child (nominee) at the time of maturity of the plan.

Minimum & Maximum Age of entry: The minimum age of entry of the parent, whose life is assured, is 18 years and the maximum age of entry of the life assured (Parent) is 50 years.

Minimum & Maximum age of Child: The minimum age of entry of the nominee child is 0 on the last birthday and the maximum age of entry of the child is 17 years on the last birthday.

Minimum age of maturity of the child: The minimum maturity age of the child is 18 years.

Minimum time period of the policy: The minimum term of the policy is 8 years.

Maximum age of maturity: The age of the insured parent is 75 years on the nearest birthday and the maximum age of maturity of the nominee child is 25 years.

Minimum & Maximum sum assured: The minimum sum assured is Rs. 100000 and the multiples of Rs. 5000 thereafter and there is no limit for the maximum amount of sum assured.

Benefits of LIC Jeevan Ankur Child Plan


Death Benefit

Death of the life assured : If the death of the life assured (Insured parent) happened within the policy term (policy period) the basic sum assured will pay to the nominee and 10% of basic sum assured is payable on each policy anniversary after death of the insured, till the end of the policy period.

Death of nominee child: If the death of the nominee child happened while the life assured is alive, the life assured (parent) can nominate another child or another person and the policy will continue with the same benefit till any another incident or maturity. If death of child (nominee) happened after the death of life assured (parent) the policy will continue and benefits shall be payable to the legal heir(s)

Maturity Benefit : At the maturity, an assured maturity benefit equal to the basic sum assured and loyalty addition, if any, is payable whether the life assured is alive or not.

Loyalty Addition: As per the experience and practice of Life Insurance Corporation, the Jeevan Ankur child plan also eligible for loyalty addition on the date of maturity irrespective of the survival of Life Assured.

Riders of the policy: Riders such as Accident Benefit Rider, Critical illness rider with or without premium waiver also available with LIC Jeevan Ankur Child insurance plan.

Premium Payment: You can pay premium yearly, half yearly, quarterly or monthly ECS mode. Single premium is also available for LIC Jeevan Ankur Policy.

Grace days of Premium Payment: One month grace dayss available for yearly, half yearly and quarterly premium payment and 15 days grace period for monthly premium.

Premium calculator: The following table shows the premium of a sum assured of Rs. 100000 of a 30 year old sum assured (parent) in different term of policy. Service tax etc. will be added witht the following amount.

Policy term (years)             10               15           20          25

Single Premium (Rs.)      61880      50335     42210    37530

Annual Premium(Rs.)       9120          5750        4135        3350

High Sum Assured Rebate: LIC allows rebate of 4% & 6% of sum assured of Rs. 2Lakh to 4.95 lakh and 5 lakh or more respectively for single premium payment and 2 % and 3% respectively for regular premium payment for Jeevan Ankur plan.

This LIC Jeevan Ankur policy is suitable for the financial protection the nominee child, even if the death of the insured parent is occurred.

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Monday, 23 January 2012

Job lists in Employment News 21 January 2012

Employment news is a weekly publishing by the publication division of Ministry and information broadcasting, government of India. The weekly is in three languages such as English, Hindi and Urdu. This is to inform career opportunities to young people. Mostly government job vacancies advertise in employment news. Job highlights of Employment News 21 January, 2012 to 27 January, 2012 shown below

Vacancy of Upper Division Clerks and Multi-Tasking Staff in Employees’ State Insurance Corporation, Andhra Pradesh.

Job vacancy of Upper Division Clerks in Employees’ State Insurance Corporation, Jaipur.

Applications invited by Military Engineer Services, Headquarters Chief Engineer South Western Command for various posts.

Store Keeper-II, Peons, Civil Motor Drivers, Chowkidars, Safaiwala and Mate etc. required by Military Engineer Services, Chief Engineer Headquarters Northern Command

Requirement of Graduates Engineers in NTRC Limited, New Delhi.

Applications invited for Probationary Officers by Andhra Bank Saifabed, Hyderabad.

Security Guards in Class –IV Cadre required by Reserve Bank of India, Chennai.

Vacancy of Officers Middle Management (Scale-II), Officer Junior Management (Scale-I) and Office Assistants in Himachal Gramin Bank.

Applications invited for various Group ‘C’ posts by High Explosives Factory Khadki.

Vacancy of various posts in Ordnance Factory, Muradnagar.

Ordnance Factory, Itarasi also requires Store Keepers, Fireman and Durwan.

Graduate Executive Trainees required in Neyveli Lignite Corporation Limited, Chennai.

CISF (Central Industrial Security Force) requires Constables (Tradesmen) under Special recruitment drive for Ex-Servicemen- 2012.

ITBP (Indo-Tibetan Border Police) Force requires Sub-Inspector (Overseer)

Vacancy of Group ‘C’ posts in Semi-Skilled Grade in Metal and Steel Factory Ishapore.

We strongly recommend reading the employment news (21 JANUARY 2012- 27 JANUARY 2012) for those who wish to apply any of the abovementioned job highlights. 

Job Highlights Employment News Employment News 21 January 2012


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Sunday, 22 January 2012

3100 clerical vacancies in State Bank of India

State Bank of India, one of the leading nationalized banks in India, invites application for clerical recruitment 2012 from eligible Indian Citizen. 2500 vacancies are for special recruitment drive for SC, ST & OBC Category and 600 vacancies for regular recruitment 2012 in North Eastern Circle.

Name of the post: Clerk (Clerical Cadre)

Minimum & Maximum Age: The minimum age is 18 years and maximum age limit is 28 years as on 01st December, 2011.

Pay Scale: Rs. 7200 – 19300 and the starting emoluments is Rs. 14,177 per month.

A Written Examination will be held for the candidates on 18th March, 2012.

How to apply: You can apply on-line for Registration and the registration is already started from 28th December, 2011and the last date of registration is 25th January, 2012.

Application fee: application fee for general candidates and OBC candidates are Rs. 350/- each and for SC, ST, PWD, XS candidate Rs. 50 only as postal charges. The application fee should be paid online through debit card, credit card or internet banking.

Educational Qualification: The candidate must pass 12th Standard (10+2) or equivalent with minimum 60% marks (55% for SC, ST, PWD (OBC) & XS (OBC) candidates.).Those who are applying for special recruitment drive should have 60% marks in 12th Standard or degree (Graduate) from a recognized university.

Those who wish to apply for the post please read the full details

3100 clerical vacancies in State Bank of India


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Saturday, 21 January 2012

Fix your financial goals to be a successful investor

Well defined goals complete 50% of your journey. When you find goals you could find the ways to reach the goals. If the goals are not sure how can you know the ways? This is always true for an investor also. If you wish to save a few bucks from your hard earned money, you must fix your financial goals. When you have a clearly defined financial goal you can plan your investments to reach that financial goal.

Identify your financial goals

So if you wish to be a good investor, first identify your financial goals. The following list of normal financial goals helps you to identify your own financial goals.

Buying a residential house

Buy a car

Basic Education of your children

Higher education of your children

Marriage of your children

Look after your parents

Your own retirement

Holiday trips

Buying land and other assets

The abovementioned financial goals are a few standard financial goals.  You can modify these or can identify your own financial goals.

Decide the time period for each financial goal.

After identifying your financial goals you have to classify your financial goals as per the time period it should completed.

Short term financial goals: The financial goals which should be attained within a short period of time such as one or two years can group in to this category.

Medium term financial goals: The financial goals which should complete within 2 to 5 years can classify in this category.

Long term financial goals: Your financial goals which should attain only after 5 years can include in this category.

All these classifications may differ from person to person. For example if your children are infants you can include the financial goal of the marriage of children in long term category. But if your children are near to marriageable age you should classify the marriage of children in short term financial goals or medium term financial goals as the case may be. You can plan your investments and risk bearing capacity as per the time period of the financial goals.

Fix priorities of your financial goals.

After identifying and classifying your financial goals you have to fix priorities in your financial goals. For example you can fix first priority of the education of your child and can give second priority for the marriage of your child. Likewise you have to fix the priorities of each your financial goals. This will help you to plan your investments.

Calculate the expected fund for your financial goals

Once you set your financial goals, you have to calculate the money which should involve in each financial goal. While calculating the money factor you should consider the inflation also. If not, you may not have enough money when you have to reach your financial goals.

Do your homework and complete the abovementioned steps to become a useful and successful investor. If you have a goal you can find the way to reach that goal.

Fix your financial goals to be a successful investor


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Thursday, 19 January 2012

Income tax Verification on high value transactions

Income tax department verifying high value transactions from those who are not assessed for income tax or who have not furnished their PAN while making such transactions. Banks, Financial institutions and other concerned authorities are responsible for furnishing high value transactions of its customers or dealers to Income tax department.  The tax payer also had to declare their high value transactions while filing income tax return.  Now the individual tax payer should not declare such high value transaction along with their income tax return. The new income tax forms including Sahaj, Sugam, ITR 3 and ITR 2 do not have space to declare high value transactions. But it is mandatory to provide PAN number, while making any such high value transactions. The financial institution which deals such transaction will inform such information through AIR (Annual Information Return) to the Income tax department in specified format.

The economic times reported that while asking about the missing AIR space in the ITR,  a CBDT spokes person said that "We have dispensed the individual taxpayers from declaring it in their return," he repeated that  "If the AIR is missing from the individual's forms then that would be a reason to take up the return for scrutiny,"

The individual tax payer had to disclose the following high value transactions in any year.

Investment above Rs. 200000 in mutual funds
Investment of Rs. 500000 or more in company bonds, debentures or RBI bonds
Cash deposit of Rs. 1000000 or more in an year in any banks
Payment of Rs. 200000 or more for credit card bills
Transaction of immovable property of Rs. 3000000 or more

Now Income tax department verifying such high value transactions from those who are not assessed for income tax or who have not furnished their PAN while making such transactions. This special drive will be from 20th January, 2012 to 20th March, 2012. The CBDT (Central Board of Direct Taxes) issued proforma for query letters and responses to be issued to high value investors or spenders.

They have to explain the source of such high value transactions, whether it is accounted properly or explained in their IT return etc. Such individuals are liable to pay any tax dues regarding this high value transactions within the financial year ended 31st March, 2012. It is not necessary to visit the income tax office personally, if you are called for furnishing the details. You can send the details by speed post or registered post.

Sometimes the tax officials may visit the high value investors or spenders. In such cases you can verify his identity and if you have any complaints you can contact any high tax officials including assessing officer and commissioner. And you can ask the telephone numbers of the superiors of the visiting tax official.

There may be penalty for not paying tax properly up to 300% of the unpaid tax. Prosecution also may be there in some cases.

When you make any transactions including high value transactions, account it properly and pay proper tax if any. Do not forget to submit your income tax return properly. If you are not able to submit income tax return properly, get help from any consultant or professionals. The fee you pay for such a person is not a loss.

Income tax Verification of high value transactions 


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Tuesday, 17 January 2012

Government Jobs in Employment News 14 Jan 2012

Employment news is a weekly which publish government jobs and the job list in employment news is helpful for job seekers to find government job vacancies. Employment News 14 January 2012 – 20 January 2012 also lists a lot of government jobs. The job highlights of Employment News (14 January 2012 – 20 January 2012) shown below for the convenience of our readers and visitors those who looks for a good government job.  If you wish to apply for any of the job vacancy, we strongly recommend you to read the employment news weekly for more details.

Union Public Service Commission invites applications for various posts.

Employees’ State Insurance Corporation, New Delhi requires Specialists Grade –II.

Employees’ State Insurance Corporation, New Delhi requires Staff Nurses, Radiographers, Laboratory Assistants, Nursing Orderly, Dresser, Dialysis Technicians, Library Assistants etc.

Agricultural and Processed Food Products Export Development Authority, New Delhi requires DGM, AGM and Accountant.

State Bank of India invites applications for appointment in Clerical Cadre posts.

Staff Selection Commission notifies Junior Engineers (Civil, Mechanical, Electrical, Quality Surveying and Contract) Examination, 2012.

Ordnance Factory, Muradnagar requires Durwan.

Indian Coast Guard invites applications from Men and Women to become officers in Indian Coast Guard-02/2012 Batch.

Manipur University requires Professors and Associate Professors.

DSC Records, Kannur (Kerala) requires Peon (MTS)

Steel Authority of India Limited, Burnpur requires X-Ray Technician Trainee Pharmacists (Trainee), Optometrician (Trainee), Audiometrician (Trainee), Physiotherapists (Female) (Trainee), Staff Nurse (Male and Female) (Trainee) and ECG, Echo and Colour Doppler Tech (Trainee).

Engineers India Limited, New Delhi requires Professionals in various fields.

The above mentioned job list is the job highlights of employment news 14 January 2012 – 20 January 2012. If you wish to apply for any of the government jobs listed here, please refer the current employment news for more details such as educational qualification, experience, how to apply etc. 

Government Jobs in Employment News 14 Jan 2012


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Monday, 16 January 2012

Submit tax saving investment proof to avoid over TDS

This is the last quarter of a financial year and almost all employees are hurry to submit their tax saving investment proof to the employer. An employee must submit his or her tax saving investment proof to the employer in time for the proper calculation and deduction of income tax (TDS). If not, employer will deduct your tax with the assumption that you do not have any tax saving investments.

The employer normally deduct tax from the beginning of the financial year with the consideration of your declaration of tax saving, which you declare that you would invest in a few tax saving investments.  When you submit the proof of tax saving investments after the investments made, the employer can ensure that you have done the investment as you declared and can calculate tax accordingly.

If your tax investments are lesser than you declared, your tax liability will be more than deducted by the employer and then he should deduct more to compensate the shortfall. Just like if you invest more than you declared, the employer can compensate, if possible as per rule.

Check your tax saving investments with the following list

Tax saving investments under section 80 C   (Maximum limit is Rs. 100000)

PPF or Public Provident Fund – Copy of Receipts or Updated Pass book

EPF or Employees Provident Fund - The proof is already with the employer

NSC or National Saving Certificate – Copy of original Certificate

5 years Tax saving Fixed Deposits – Copy of original Fixed Deposit Receipt

ELSS or Equity Linked Saving Scheme – Copy of Statement of the Mutual Fund

Unit linked Insurance Plan – Copy of premium payment

Other payments or expenses under section 80 C (which includes the above maximum limit of Rs. 100000)

Tuition Fee of children paid to recognized regular education institution – copy of certificate from the school or college.

Principal Amount repayment of housing loan from recognized housing financial institution – Copy or certificate of payment from bank or financial institution.

Life insurance premium – Copy of the premium receipts

Other deductions

For the exemption of House Rent Allowance – Rent Receipts

Interest on housing loan under section 24b (maximum limit is Rs. 150000) – copy of interest payment certificate from financial institution

Tax saving under section 80CCF – Maximum limit is Rs. 20000 in infrastructure bond- copy of receipts and copy of certificate or statement when received

Payment of Rent – submit From 10 BA (Read the conditions of exemption of rent payment)

Medical Insurance under section 80D – Maximum limit is Rs. 15000 (Rs. 20000 if one of the insured is senior citizen – over the age of 65 years) – submit copy of receipt

Medical insurance of parents or parents in laws - Maximum limit is Rs. 15000 (Rs. 20000 if one of the insured is senior citizen – over the age of 65 years) – submit copy of receipt.

Travel receipts (for LTA claims) – copy of receipts

Declare other income, if any, to the employer – if you have any other income such as interest, rent of house property, capital gain etc., declare it to the employer and allow him to deduct tax accordingly to avoid last minute tax payment by you, while filing income tax return.

Submit all the above proofs to the employer and avail maximum tax exemption while calculating and deducting TDS.

tax saving investment proof


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Sunday, 15 January 2012

Axis Constant Maturity 10 Year Fund of Axis Mutual Fund

Axis Mutual Fund Launched New Fund Offer Named Axis Constant Maturity 10 Year Fund on 10th January, 2012.  This is an open ended gilt fund (a gilt fund is a mutual fund invests in high quality-low risk debt including government securities). The objective of the fund is to generate returns similar to that of 10 year government bonds.

Opening and closing dates: The New Fund Offer of Axis Constant Maturity 10 Year Fund opens on 10th January, 2012 and the NFO decided to close on 19th December, 2012, but the closing date recently extended to 24th January, 2012. The open ended fund will reopen for subscription on 6th February, 2012 onwards.

Minimum and maximum investment: The face value of one unit of Axis Constant Maturity 10 Year Fund is Rs. 10 and the minimum required investment is Rs. 5000 and multiples of Re. 1 thereafter.

Entry load and exit load: There is no entry load and exit load for the Axis Constant Maturity 10 Year Fund.

Maturity period: The maturity period of Axis Constant Maturity 10 Year Fund is 10 years. But the mutual fund will be listed in stock exchange and can trade anytime through stock market.

Asset Allocation: The scheme plans to invest 100 percent of the pooled money of investors in government securities, Treasury bills, REPO and CBLO.

Scheme options: The Axis Constant Maturity 10 Year Fund has both growth option and dividend option.

Others: the performance of the Axis Constant Maturity 10 Year Fund will standardize against Crisil 10 year gilt Index. Mr. R Sivakumar is the fund manager.

The Axis Constant Maturity 10 Year Fund is suitable for low risk investors.

Axis Constant Maturity 10 Year Fund


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Friday, 13 January 2012

LIC online term life insurance plan launch soon

Insurance companies are competing with low premium pure term life insurance plans. At present online term life insurance plans are large selling insurance product. Pure term life insurance policies become cheaper and cheaper. LIC of India (Life Insurance Corporation of India) also coming with online term life insurance plan with low premium and high life cover.

LIC of India is ready with the pure term life insurance plan and wish to launch it on next month. This term life insurance plan will be online and one can join the policy through internet. Online insurance plans are cheaper, so that the agent’s commission and paper works can avoid or reduced up to a certain extent.

In the words of Mr. D.K Mehrotra, acting chairman of LIC of India, “The online term plan is ready. We had some issues that we have sorted out. It should be launched by the end of next month.”

Unlike other insurance companies, LIC of India spreads its activities allover India, even the nooks and corners of India and the benefits of new pure term life insurance will get more people both urban and rural people.

The premium of the LIC online term life insurance plan also may low to compete with all other insurance companies. Aviva I Life term life insurance plan and other insurance companies’ pure term life insurance plans offer Rs. 3000 to Rs. 3500 annual premium for 25 lakh sum assured for non smokers ( premium varies as per age, smoking habits, sum assured  and other related conditions)

We hope that this new online term life insurance plan from LIC of India also welcome by people of India.

LIC online term life insurance plan launch soon


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Thursday, 12 January 2012

Government Jobs in Employment News 07 Jan 2012

Government Jobs lists displayed in Employment News. Employment News 07 January 2012 – 13January 2012 also advertised lot of government jobs. For the convenience of our readers and visitors we listed below the job highlights of Employment News 07 JANUARY 2012- 13 JANUARY 2012. If you are interested in any of the job listed below may apply after read the current issue of employment news.

Headquarter Eastern Command Engineers Branch invites applications for various posts.

GB Pant University of Agriculture & Technology, Pant Nagar requires Asstt Prof./JRO/Assistant Librarian/ Assistant Director Physical Education.

Bharat Dynamics Limited, Hyderabad invites applications for various posts.

Employees’ State Insurance Corporation, New Delhi requires Insurance Medical Officer (IMO) Grade II (Allopathic).

Employees’ State Insurance Corporation, Jammu, Chandigah, New Delhi, Ahmedabad & Faridabad require Upper Division Clerks and Multi Tasking Staff.

CSIR-Central Research Institute requires Scientists.

Corporation Bank requires Probationary Assistant Managers.

Syndicate Bank, Manipur requires Probationary Officers.

Union Bank of India requires Probationary Officers.

Export-Import Bank of India Mumbai requires Administrative Officers (Secretarial Work).

Institute of Banking Personnel Selection needs Specialist Officers in various fields.

Department of Atomic Energy invites applications for recruitment as Scientific Officers (Group A posts).

Indo-Tibetan Border Police Force requires Head Constables, (Dresser Veterinary).

HQ Maintenance Command IAF invites applications for the various Group ‘C’ posts.

The abovementioned job lists are the job highlights of employment news 07 JANUARY 2012- 13 JANUARY 2012. For more details about each job please refer the current edition of employment news.

Government Jobs in Employment News 07 Jan 2012


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