Amu_Ke_Fundye

Amu_Ke_Fundye Mutual Funds What is a Mutual Fund? A mutual fund is a professionally-managed trust that pools the savings of many investors and invests them in securities like stocks, bonds, short-term money market instruments and commodities such as precious metals. Investors in a mutual fund have a common financial goal and their money is invested in different asset classes in accordance with the fund’s investment objective. Investments in mutual funds entail comparatively small amounts, giving retail investors the advantage of having finance professionals control their money even if it is a few thousand rupees.                Mutual funds are pooled investment vehicles actively managed either by professional fund managers or passively tracked by an index or industry. The funds are generally well diversified to offset potential losses. They offer an attractive way for savings to be managed in a passive manner without paying high fees or requiring constant attention fr

AMU_KE_FUNDYE Section 80E Income Tax Deduction or Interest on Education Loan An Education Loan helps you not only to finance the foreign studies but it can save a lot of tax also. If you have taken an education loan and are repaying the same, then interest paid on education loan is allowed as a deduction from the total income u/s 80E. However, the deduction is provided only for interest part of the EMI. There is no tax benefit for the principal part of the EMI. Essential Conditions for Claiming This Deduction Are: 1. Who can claim this deduction? Only an individual can claim this deduction. It is not available to HUF or any other kind of taxpayer. And the loan should be taken for the higher education of self, spouse or children or the student for whom the individual is a legal guardian. Thus parents can easily claim this deduction for the loan taken for the higher studies of their children. 2. From where the loan should be taken? The loan should be taken from

Amu_Ke_Fundye Taxes for Salaried Individuals As soon as the filing season begins, the salaried class is in a frenzy about taxes they must shell out for the said financial year. It is important to understand your tax slab and what each of your salary breakup component means. This can help you figure out how to save on taxes. If you want to understand your salary components or want to learn how you can save tax on your salary income, this guide is for you SECTION I – Understanding Your Payslip 1. Basic Salary This is a fixed component in your paycheck and forms the basis of other portions of your salary, hence the name. For instance, HRA is defined as a percentage (as per the company’s discretion) of this basic salary. Your PF is deducted at 12% of your basic salary. It is usually a large portion of your total salary. 2. House Rent Allowance Salaried individuals, who live in a rented house/apartment, can claim house rent allowance or HRA to lower tax out