Category: Investment

Income Tax Benefits

Tax Saving Chart & Income Tax Benefits
The rates of income tax applicable under the Finance Act, for the financial year 2007-2008 and 2008-2009 in the case of an individual are given below

Previous Rates of Income Tax:

1. Where the total income does not exceed Rs. 1,00,000/- Nil
2. Where the total income exceeds Rs. 1,00,000/- but does not exceed Rs. 1,50,000/-. 10 per cent of the amount by which the total income exceeds Rs. 1,00,000/-.
3. Where the total income exceeds
Rs. 1,50,000/- but does not
exceed Rs. 2,50,000/-.		 Rs. 5,000/- plus 20 per cent of
the amount by which the total
income exceeds Rs. 1,50,000/-.
4. Where the total income exceeds
Rs. 2,50,000/-		 Rs. 25,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 2,50,000/-.

In case of Senior Citizens:

Where the total income does not
exceed Rs. 1,85,000/-.		 Nil
2. Where the total income exceeds
Rs. 1,85,000/- but does not
exceed Rs. 2,50,000/-.		 20 per cent of the amount by which the total income exceeds Rs. 1,85,000/-.
Where the total income exceeds
Rs. 2,50,000/-.		 Rs. 13,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 2,50,000/-.

In case of women employees below 65 years of age:

1.Where the total income does not
exceed Rs. 1,35,000/-.		 Nil
2. Where the total income exceeds
Rs. 1,35,000/- but does not
exceed Rs. 1,50,000/-.		 10 per cent of the amount by which the total income exceeds Rs. 1,35,000/-.
3. Where the total income exceeds
Rs. 1,50,000/- but does not
exceed Rs. 2,50,000/-.		 Rs. 15,00/- plus 20 per cent of
the amount by which the total
income exceeds Rs. 1,50,000/-.
4. Where the total income exceeds
Rs. 2,50,000/-		 Rs. 21,500/- plus 30 per cent of the amount by which the total income exceeds Rs. 2,50,000/-.

Surcharge on Income Tax:
The amount of Income Tax so computed shall be increased
by a surcharge at the rate of 10% where the taxable income exceeds Rs. 10 lakh

An additional surcharge called the Education Cess is levied
at the rate of 2% on the amount of tax payable inclusive of surcharge.

Qualifying Investment Eligible for Rebate:
Section 80C(1): In computing the total income of an assessee, being an individual or a Hindu Undivided Family, in accordance with and subject to the provisions of this Section, the whole of the amount paid or deposited in the previous year out of his income chargeable to tax being the aggregate of the sums specified in the Section as does not exceed Rs. 1,00,000 shall be deducted from his income.

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categories Investment | Sameer Trivedi February 3, 2010 | comments Comments (0)

ICICI Home Finance

ICICI Home Finance Company Limted shall, at its discreation, accept Fixed Deposits of Rs.10,000/- and above under the ICICI Home Finance Fixed Deposit Scheme subject to following terms and conditions for Individuals, Trust Depsoits, Senior Citizens Deposit Schemes Plan as mention below.

Tax Deduction at source: No Tax deduction at source on interest paid/ credited upto Rs. 5,000/- in a Financial Year.

Loan Facility: Loan against deposit is available after 3 months from the date of deposit upto 75% of the deposit amount, subject to the other terms and conditions framed by ICICI Home Finance from time to time. Interest on such loans will be 2% above the depsoit rate.

MIN AMT. INT. PERIOD (IN MONTHS
 & INTEREST RATES)
Rs. (‘000) FREQ. 12 24 36 48 60
10 M 6.3 6.75 7 7 7.7
10 Q 6.35 6.8 7.05 7.05 7.75
10 C/A 6.5 7 7.25 7.25 8

In Case of any querry on  Latest Interest Rates on ICICI Home Finance Limited Company Deposits  or to invest money Ask our Authorised Agent before Investing Money & See the last updated time stamp.

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categories Company Deposits | Sameer Trivedi January 11, 2010 | comments Comments (0)

Mahindra Finance Deposits

Mahindra & Mahindra Financial Services Limited

Cumulative Scheme

Minimum Amount Period (Months) Amount Payable (Rs.) Interest* p.a. Effective Yield p.a.**
Rs. 10,000 12 10,800 8.00% 8.00%
Rs. 10,000 18 11,272 8.25% 8.48%
Rs. 10,000 24 11,772 8.50% 8.86%
Rs. 10,000 36 12,950 9.00% 9.83%

Non –Cumulative Scheme

Minimum Amount Period (Months) Interest* #   p.a.
Rs. 25,000 12 7.75%
Rs. 25,000 24 8.25%
Rs. 25,000 36 8.75%

* Senior Citizens/ Shareholders/ Employees will get an additional rate of 0.25% per annum #Interest payment half yearly on 30th September and 31st March only through ECS. ## compounded annually.

Renewals for Company Fixed Deposit scheme wil be accepted in the Scheme prevalling on date of maturity. Only Principal Amount will be renewd in case of renewal. Additional amount will be accepted in multiples of Rs.1000/-.

Communication Address:
Link Intime India Pvt Ltd
Fort(Customer Care): 203, Davar House, 2nd Floor, D. N. Road, Mumbai- 400078. Tel: 022-22694127, 25946960. Fax: 022-25946969. email: mflfd@linkintime.co.in
In Case of any querry on or to invest  Latest Interest Rates on Unitech Limited Company Deposits Ask our Authorised Agent before Investing Money & See the last updated time stamp.

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categories Company Deposits | Sameer Trivedi January 10, 2010 | comments Comments (1)