Sunday, November 25, 2012

Basic Financial Planning Calculator

This is nice little easy to use financial planning calculator by Reliance Mutual Fund.

http://reliancemutual.com/GoalsCalculator.aspx

It covers most of the basic life goals of an Individual.

Buying a House
Higher Education
Marriage
Buying a Car
International Vacation
Retirement Calculation

Monday, November 12, 2012

Top Performing Equity Funds since last Diwali

Following is the list of few of the top performing equity funds since last Diwali.

LARGE CAP FUNDS
1. SBI Blue Chip Fund        - 19.9
2. Reliance Top 200 Fund   - 19.5
3. Reliance Equity Fund       - 18.1
4. ICICI Pru Top 100 Fund - 16.9
5. Religare Equity Fund        -16.7

Category Average is 10.4 %

SMALL & MIDCAP FUND
1. Principal Emerging Bluechip Fund - 26.3
2. Axis Midcap Fund                       - 25.9
3. ICICI Pru Discovery Fund           - 24.1
4. BNP Paribas Midcap Fund          - 23.4
5. Franklin Smaller cos Fund            - 22.7

Category Average : 15.9%

DIVERSIFIED EQUITY FUND
1. Reliance Equity Oppor Fund - 24.8
2. Birla Sun Life India GenNext - 20.2
3. Reliance RSF Equity             - 19.9
4. Templeton Equity Fund         - 19.6
5. Principal Dividend Yield        - 19.0

Category Average - 10.7%

ELSS TAX SAVING CATEGORY
1. Reliance Tax Saver         - 22.7
2. Principal Tax Savings      - 19.8
3. HSBC Tax Saver Fund   - 19.4
4. ICICI Pru RIGHT Fund  - 17.6
5. DSP-BR Tax saver Fund - 16.9

Category Average - 11.6 %

BALANCED FUND
1. Reliance RSF - Balanced       - 18.1
2. SBI Magnum Balanced Fund - 17.5
3. Tata Balanced Fund               - 17.1
4. Principal Balanced Fund        - 15.7
5. ICICI Pru Balanced Fund      - 14.9

Category Average - 12.0%

SENSEX - 7.6%
NIFTY - 8.9%

Tuesday, November 6, 2012

Dividend Declared Birla Sun Life Equity Mutual Funds


Birla Sun Life Mutual Fund has declared dividend under the schemes
Birla Sun Life Frontline Equity Fund - Rs. 0.50
Birla Sun Life MNC Fund - Rs 4.0
Birla Sun Life Opportunities Fund - Rs 0.75
The record date is 9/11/2012

Saturday, October 13, 2012

Fidelity Mutual Fund Merged with L&T Mutual Fund

Merger of Schemes of Fidelity Mutual Fund with Schemes of L&T Mutual Fund

Fidelity Mutual Fund has announced the merger of
Fidelity Flexi Gilt with L&T Gilt,
Fidelity Wealth Builder-Plan A with L&T MIP.

Fidelity Equity with L&T Equity,
Fidelity Tax Advantage with L&T Tax Advantage,
Fidelity India Prudence with L&T India Prudence,
Fidelity Cash with L&T Cash,
Fidelity Intl Opp with L&T Indo Asia,
Fidelity Global Real Assest with L&T Real Assests,

The Unit holders of L&T and Fidelity Mutual Fund are given an option to redeem/switch out from the schemes within October 15, 2012 to November 15, 2012 without paying any exit load. New names of the schemes will be applicable from November 16, 2012.

Monday, September 3, 2012

How to calculate VAT tax on Property ?


Recently many of my clients who have purchased flats between 2006 and 2012 have received notices from builders to pay VAT tax running into Lakhs. There is so much confusion on calculation of the VAT tax that many developers charge the maximum possible and buyers are not even aware how much they should pay.

If the flat is 1000sq ft and the agreement value is Rs. 1crore then 5% VAT comes to Rs. 5 Lakhs many developers charge this amount but this is wrong. VAT is calculated only on the CONSTRUCTION COST of the property OR the agreement value of the property and the LOWEST of the two should be considered.

so for above example the construction cost in Mumbai is between 1000sq.ft to 1500sq.ft then even if we take highest value of  Rs1500 X 1000 sq.ft  = 15,00,000. and 5% of this is Rs.75,000 only.

So rather then paying  Rs.5 Lakh your VAT liability is only Rs. 75,000.
which is a huge difference if your Developer is charging more then go and explain him how to calculate VAT TAX.

Reference : DNA page1 on 3/09/2012

Wednesday, August 29, 2012

How to transfer old shares with expired transfer deeds

If you have old transfer deed signed which is more then 1 year old then that deed will work only after getting it extended from ROC.

Process is quiet tedious but you have to go through it.

1. Fill up the transfer deed with all the details.

2. Get the franking done on Transfer deed with BSE in Bank of India. Fort branch
(Franking charges are 0.25% of the current market value of all the shares)

3. Go to the ROC office which is at Marine lines West. Take a form which cost Rs.2 per folio there is one form required for each company. The form is called 7c transfer deed form.

4. you have to fill this form and make online payment of Rs 50 per certificate.

5.you can make the payment for the same from the site http://mca.gov.in/MCA21/
you have to create a account first time then login and make payment via debit card, credit card or net banking account.

6. Take the printout of the receipt.

7. Submit this three documents at ROC office in Marine Lines they will ask you to come back after 7 days.

8. After 7 days you can collect all three documents with extended time stamp on your transfer deed forms.

9. Courier them to the registrar of your company along with your PAN card copy and the shares will be transfered in your name within 15 to 30 working days.

10. once you receive them you can send for dematerialization where you have your demat account.

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