Sell LIC Housing Finance Future @ 246.75
SL: 250.25
Tgt: 235.5
Tuesday, October 30, 2012
Tax slabs for Financial Years 2011-2012 and 2012-2013
Income tax slabs 2011-2012 for General tax payers
| Income tax slab (in Rs.) | Tax |
|---|---|
| 0 to 1,80,000 | No tax |
| 1,80,001 to 5,00,000 | 10% |
| 5,00,001 to 8,00,000 | 20% |
| Above 8,00,000 | 30% |
Income tax slabs 2011-2012 for Women
| Income tax slab (in Rs.) | Tax |
|---|---|
| 0 to 1,90,000 | No tax |
| 1,90,001 to 5,00,000 | 10% |
| 5,00,001 to 8,00,000 | 20% |
| Above 8,00,000 | 30% |
Income tax slabs 2011-2012 for Senior citizen (Aged 60 years but less than 80 years)
| Income tax slab (in Rs.) | Tax |
|---|---|
| 0 to 2,50,000 | No tax |
| 2,50,001 to 5,00,000 | 10% |
| 5,00,001 to 8,00,000 | 20% |
| Above 8,00,000 | 30% |
Income tax slabs 2011-2012 for Very Senior citizen (Above 80 years)
| Income tax slab (in Rs.) | Tax |
|---|---|
| 0 to 5,00,000 | 0% |
| 5,00,001 to 8,00,000 | 20% |
| Above 8,00,000 | 30% |
---------------------------------------------------------------------------------------------------------------------------------------------
India Income tax slabs 2012-2013 for General tax payers
| Income tax slab (in Rs.) | Tax |
|---|---|
| 0 to 2,00,000 | No tax |
| 2,00,001 to 5,00,000 | 10% |
| 5,00,001 to 10,00,000 | 20% |
| Above 10,00,000 | 30% |
India Income tax slabs 2012-2013 for Female tax payers
| Income tax slab (in Rs.) | Tax |
|---|---|
| 0 to 2,00,000 | No tax |
| 2,00,001 to 5,00,000 | 10% |
| 5,00,001 to 10,00,000 | 20% |
| Above 10,00,000 | 30% |
India Income tax slabs 2012-2013 for Senior citizens (Aged 60 years but less than 80 years)
| Income tax slab (in Rs.) | Tax |
|---|---|
| 0 to 2,50,000 | No tax |
| 2,50,001 to 5,00,000 | 10% |
| 5,00,001 to 10,00,000 | 20% |
| Above 10,00,000 | 30% |
India Income tax slabs 2012-2013 for very senior citizens (Aged 80 and above)
| Income tax slab (in Rs.) | Tax |
|---|---|
| 0 to 5,00,000 | No tax |
| 5,00,001 to 10,00,000 | 20% |
| Above 10,00,000 | 30% |
Information shared via source.
Compute and Save Tax
Following are the possible investment instruments to save upon your income tax and further help for tax computation:
1) Section 80 C Limit Unchanged (Rs. 1,00,000)
• Deduction on life insurance policy, taken after 1 April 2012, will be allowed only if yearly premium is less than 10% of sum assured. This is a new change from c.y. earlier it was 20%. If its more than 10% then not eligible for deduction u/sec. 80C
• ELSS
• PPF
• EPF
• FD for 5 years
• Pension Plans
• NSC
• Post Office SB
• Infrastructure Bonds
• Expenditure on Children Education (Upto Rs. 200 per month for upto 2 children)
• Tuition fees (Only Tuition fees excluding Development Fees, Donations, etc. Maximum allowed: Rs. 24,000/-)
• Housing loan principal
• Deferred Annuity
• Approved Super Annuation Fund
2) Section 80 CCF – Additional Rs. 20,000 on investments towards approved Infrastructure bonds (withdrawn)
3) Section 80CCD:
Deduction under this section can be claimed only if the contribution to your NPS account is made by your employer and the deduction is limited to a maximum of 10% of your basic salary. Returns on NPS are tax free, but withdrawal is still taxable. The deduction under sec 80CCD is over and above the deduction available under sec 80C.
4) Section 80 D
Deduction under section 80D
• Deduction of Rs. 15000/- is allowed if the same is paid as premium for Medical Insurance taken for self / dependents or towards preventive health check-up (max Rs. 5000). In case any of self / dependents is a senior citizen, the deduction allowed is Rs. 20000/-
• Additional Rs. 15000/- is allowed as deduction if the same is paid as premium for Medical Insurance taken for parents. In case the parent is a senior citizen, the deduction allowed is Rs. 20000/-
5) Section 80DD
Deduction under section 80DD
• Exemption given for Expenditure made for a disabled dependant towards Medical Treatment/Training/Rehabilitation. It also includes the LIC/Insurance premium paid towards maintenance of such dependant.
• Maximum deduction allowed is Rs. 50,000/- in case of normal disability and Rs. 1 Lakh in case of severe disability.
6) Section 80DDB
Deduction under section 80DDB
• Exemption given for expenditure incurred on specified disease or ailments such as cancer/aids.
• Maximum deduction allowed is Rs. 40,000/-. In case of Senior Citizens, maximum deduction allowed is Rs. 60,000/-
7) Section 80E
Deduction under section 80E
Deduction is allowed for repayment of interest component of Higher Education loan. All education after Class 12 is allowed, either vocational or Fulltime. But should be from a school/institute/university recognized by the government.
8 ) Section 80G
• Contribution to exempt charities – 25/50/75/100% depending on the charity and as per approval
• 100% exemption on donation to political parties
9) Section 80U
Deduction under section 80U
• Deduction upto Rs. 50,000/- is allowed in case of Permanent Disability.
• In case of Permanent Disability exceeding 80%, maximum deduction allowed is Rs. 1,00,000/-.
10) Section 24(1)(vi)
• Housing loan interest.Maximum Investment Limit – Rs. 1,50,000 (for loans taken after 1 April 1999, for loans before that Maximum Investment Limit 30,000).
11) Superannuation – Any contribution made by a company to superannuation fund upto Rs. 1,00,000 tax free in the hands of the employee.
12) Conveyance/Transport Allowance – Any Conveyance / Transport Allowance given to an employee is tax free upto Rs. 9,600 /- (No Supporting Bills required).
13) Medical Allowance – Any Medical Allowance given to an employee is tax free upto Rs. 15,000 /- (Supporting Bills required).
14) HRA – Any House Rent Allowance given to an employee is tax free upto the minimum value of the following conditions (subject to – when an employee can produce rent paid receipts from landlord for the period and if the employee has not availed of tax exemptions for home loan interest / principal repayment):
a) 50% of Annual Basic (40% of Annual Basic in case of non-metros)
b) Actual HRA received
c) Rent Paid – (10% of Annual Basic)
15) Professional Tax – Any Professional Tax deducted from an employee’s salary can be reduced from the annual salary income to arrive at taxable salary.
16) Provident Fund – Provident Fund contributions (under section 80 C and subject to an overall investment limit of Rs. 1,00,000 ) deducted from an employee’s salary are tax exempt.
17)80CCG – Direct Equity Investment – Under ‘Rajiv Gandhi Equity Savings Scheme’ – a new equity investor will be able to claim 50% of his investment in direct equity as deduction subject to maximum investment of Rs. 50,000 and provided his taxable income is below Rs. 10 lacs. The investment will be subject to 3 years lock-in.
Update 23 Sep 2012: Government has notified this scheme. Mutual funds and ETFs that invest in BSE100 or CNX 100 stocks or PSUs which are Navratna, Maharatna and Miniratna will qualify under this scheme. These investments can be traded over stock exchange after 1 year of investment. New equity investor has been defined as someone who has opened a Demat account but has not bought any securities till date of notification of this scheme (22 Sep 2012).
18) Section 80TTA – Savings Bank Interest - No tax will be charged on interest earned on balance in savings bank account subject to a maximum of Rs. 10,000 per year.
Monday, October 29, 2012
Figures
CRR is 4.25 vs 4.5 previous, REPO RATE unchanged at 8%, reverse repo rate remain unchanged at 7%
Sunday, October 28, 2012
Thursday, October 25, 2012
Intraday call
Sell PNB future @ 803 CMP (50% at CMP)
Sell more at 825
tgt: 765
Result based momentum call.
Wednesday, October 24, 2012
Intraday Forex call
Buy USDINR Oct @ 53.78 CMP
Tgt: 54.20
SL: 53.65
for intraday.... If you can hold, Next Tgt is 55.
Tgt: 54.20
SL: 53.65
for intraday.... If you can hold, Next Tgt is 55.
Tuesday, October 23, 2012
Simple plan but really beautiful
Other Benefits:
:- Tax benefit U/S 80C on the premium
paid (upto Rs. 1 lac )
:- Insurance coverage for double
the premium payment term.
:- Tax free returns U/S 10(10) D
:- Reasonably good returns on
your investment.
If your age is 31 yrs:
10 year plan:
Pay Rs. 4,742/- monthly for 10
years.
Total Amount Paid: Rs.:
5,69,040/-
Relax
and
stay protected for total 20
years.
Start receiving Rs. 10,000/- per
month for next 10 years.
Total received: Rs. 12,00,000/-
In case of any mis-happening
before the receiving period starts, beneficiary starts receiving Rs.
10,000/- per month for next 20 years.
Total Amount received: Rs.
24,00,000/-
Contact for more details.
Buy Ranbaxy
Intraday Buy Ranbaxy Future at around 542-543, tgt: 554 SL: 537
Momentum Call
Carry for Tomorrow
Momentum Call
Carry for Tomorrow
Forex Call for USDINR
Buy USDINR Nov at around 53.40 and more at 53.20 and hold for 55
SL: 53 (strict)
CMP: 53.83
November contract strictly.
wait for the call to initiate.
short term call.
Buy 50% at CMP and remaining @ 53.40
November Contract
Tgt: 55
SL: 53 (strict)
CMP: 53.83
November contract strictly.
wait for the call to initiate.
short term call.
Buy 50% at CMP and remaining @ 53.40
November Contract
Tgt: 55
Monday, October 22, 2012
Mid Term Stock Call
Buy Indiabulls Real Estate @ 63, SL:- 59.85, Tgt 1:- 68, Tgt 2:- 71
Medium to short term call.
Medium to short term call.
Monday, October 15, 2012
Buy Silver for short term
Buy Silver @ 60750, SL : 60250, Tgt1: 61590, Tgt 2: 62050, Tgt 3: 63660
Silver has turned up with the selling pressure and has shown short term positive trend towards 63660.
But Stop Loss should be strictly maintained.
Silver has turned up with the selling pressure and has shown short term positive trend towards 63660.
But Stop Loss should be strictly maintained.
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