November 28, 2016

Fundamental of Financial Planning

1. 30 % of your income must be used for monthly living expenses.
2. 30% of your income must be used for Liabilities repayments
3. 30% of your income must be SAVED for your future LIVING.
4. 10% of your income must be spared for entertainments, vacations………..
5. 6 moth monthly income must be available for emergency fund  { LIQUID FUND },  it can be CASH or cashable investments
6. Home loan must be registered and apply  on both husband and wife name.  { Both can get benefits on Home loan Tax benefits }
7. Buying second house for investment is not advisable  [ Survey reports - it will fetch you only around 3% return]
8. After age 45 years not supposed to enter into any BIG LIABILITIES [ Higher education of children and wedding of children will happen around 45 to 50 only ]
9. Joint account is compulsory @ Bank savings account.
10. Property must be registered on both Husband and wife name. [  As per legal act – after husband first legal heir is wife, after wife it will go to children only ]
11. Regular check on Nominations at all financial instruments
12. Only in insurance policy,  Claims payable to Nominee.  In other financial instruments legal heirs certificate is must to get back the settlement
13. 2 moths salary must be parked on LIFE INSURANCE POLICY [ it’s a universal thumb rule on insurance ]
14. Don’t take any financial investment decisions by EMOTIONALLY
15. MEDICLAIM is must [ in spite of Group mediclaim coverage given at office [ After retirement there is no mediclaim coverage. After 50 years its very tough to enter into mediclaim ]
16. For your jewelry LOCKER,  Only one lakh is payable by bank,  if theft or fire happen at bank. Provided insurance done.
17. Like same way Government guaranteed only one lakh for your FD also. [ Fixed deposits with Banks upto Rs. 1 lakh only are backed by deposit insurance ]
18. Must know all tax implications.  You cannot avoid paying tax. But you can minimize by way of investments.
19. All financial documents must be kept safely.
20. Financial investments must be fallowed through personal financial advisor.
21. Review your financial port folio by every six month.

November 07, 2016

MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS Read all Scheme related documents carefully!

Dear Investors,
Above Headlines as per SEBI guidelines all mutual fund advertisement,scheme documents print in the very small font.I think most of us unable to read also.I like to share with you few  AMFI data as on October 31,2016.
ALL TIME HIGH INDIAN MUTUAL FUND INDUSTRY..
  • Total Number of Investor accounts/Folio cross More than Five Crore
  • Total Number of SIP Investor account alone cross more than 1 Crore Mark..
  • Total Asset under  management  all scheme more than 16 LAKHS CRORE.
  Thank you for all Investors participate in the Journey and Great Success  .Please share with your Friends and Family members.Understand the Market Risk  Carefully ,Choose the Scheme Carefully and Invest Today .More detail contact us.Mutual Fund Agent AMFI Registration Number ARN-928 .Mobile Number +91 98400 44721

Have you opened a new account with any Mutual Fund?

Have you opened a new account with any Mutual Fund between 1 Jul, 2014 & 31 Aug, 2015?
Then you are required to provide FATCA self-certification about your tax residency as per current law..

FATCA” or Foreign Account Tax Compliance Act is a United States (US) law aimed at prevention of tax evasion by US citizens and residents (“US Persons”) through use of offshore accounts.
Pursuant to the Inter-Governmental Agreement (IGA) signed between the US & Indian Governments on 9th July 2015, FATCA became effective in India (retrospectively) for all new accounts opened from 1st July 2014.
There are different rules for “pre-existing” and new investors as per FATCA provisions –
New investors” are defined as those investors who are new to a financial institution (FI) having opened an account with the FI on or after 1st July 2014.
Further, all such new account holders need to certify their tax status to the financial institutions. In addition as per IGA provisions and as per clause 5.9.6 and 5.9.7 of the Guidance Notes issued by CBDT, in case of accounts other than depositories or cash value accounts, the financial institutions need to make reasonable efforts to obtain self-certification, particularly in those cases where after “US indicia” search, a positive match was found with any of the US indicia.
The IGA signed by India and US has a specific “alternate procedure” to handle all “new investor” accounts opened by a financial institution between 1st July 2014 and date of signing IGA. As per this clause, financial institutions were allowed one year to solicit tax residency self-certification from all investors who opened account in above period, failing which the accounts must be closed.

Thus, if you have opened new account/ folio with any Mutual Fund between 1st July 2014 and 31st August 2015 (i.e., with whom you had not invested prior to 1stJuly 2014), you need to provide a self-certification about your tax residency to the respective Mutual Funds for compliance with FATCA, failing which the account/s may have to be closed, as per current law.

On August 31, 2016, the CBDT has issued a press release extending the deadline of August 31, 2016 (for the time being) for obtaining the self-certifications.
However, it is in the investors to provide the same without any further delay.
Mutual Funds have been making sustained efforts to collect the FATCA self-certification from the investors who have opened new accounts / folios during the aforesaid period to confirm their tax residency. However, there are still a large number of investors who are yet to provide the same.
If you have opened new account with any Mutual Fund between 1st July 2014 and 31st August 2015 and have not yet submitted your FATCA self-certification form, please contact the respective Mutual Funds and submit the same asap.
You may also submit the same on-line through the respective Mutual Fund Registrars as per the links provided below:
www.camsonline.com/FATCA/COL_FATCAMainPage.aspx
Mutual Funds serviced by CAMS –
Birla Sunlife Mutual Fund; DSP BlackRock Mutual Fund; HDFC Mutual Fund; HSBC Mutual Fund; ICICI Prudential Mutual Fund; IDFC Mutual Fund; IIFL Mutual Fund; JP Morgan Mutual Fund; Kotak Mutual Fund; L&T Mutual Fund; Mahindra Mutual Fund; PPFAS Mutual Fund; SBI Mutual Fund; Shriram Mutual Fund; Tata Mutual Fund; and Union KBC Mutual Fund.
www.karvymfs.com/karvy/fatcahome.aspx
Mutual Funds serviced by Karvy –
AXIS Mutual Fund, Baroda Pioneer Mutual Fund, BOI AXA Mutual Fund, Canara Robeco Mutual Fund, Deutsche Mutual Fund, Edelweiss Mutual Fund, Goldman Sachs Mutual Fund, IDBI Mutual Fund, Indiabulls Mutual Fund, JM Financial Mutual Fund, LIC Nomura Mutual Fund, Mirae Asset Mutual Fund, MotilalOswal Mutual Fund, Peerless Mutual Fund, DHFL Pramerica Mutual Fund, Principal Mutual Fund, Quantum Mutual Fund, Reliance Mutual Fund, Religare Invesco Mutual Fund, Sahara Mutual Fund, Taurus Mutual Fund, UTI Mutual Fund
www.sundarambnpparibasfs.in/web/service/fatca/
Mutual Funds serviced by Sundaram BNP Paribas Fund Services –
Sundaram Mutual Fund and BNP Paribas Mutual Fund
Franklin Templeton Mutual Fund –
www://online.franklintempletonindia.com/aspx_app/Investors/fatca/Inv_FatcaDetails.aspx
Do you need update FATCA Contact us.+91 98400 44721