Top 7 Best ELSS Tax Saving Mutual Funds to invest

Mutual fund investments especially ELSS funds are currently among the most popular investment options available to an individual investor who is seeking to make their capital grow. However, not all tax savings mutual funds are created equal and thus it is important to know which the best tax saver funds are. Such a list is designed to help investors make an informed decision and make the most of their tax saving investments. The following in no particular order is a short list of the 7 best ELSS funds to help you grow your investments faster.

Check here: Best ELSS Mutual funds 2020 - Top 10 Tax Saving Mutual Funds in India

DSP BlackRock Tax Saver Fund

DSP BlackRock Tax Saver Fund has been making waves ever since it underwent a management change in 2015. In the past year, this scheme has provided over 26% ROI, one of the highest in the category, which makes it rank among the best ELSS funds currently available for investment in India.

Axis Long Term Equity Fund

The Axis Long Term Equity Fund is by far the most popular tax saver mutual fund currently available in the market. In recent times, this mutual fund investment has provided relatively lower ROI as compared to many of its peers, but with annual returns of over 20% annually, it is still a popular investment option with potentially high future returns.

Reliance Tax Saver Fund (ELSS)

The Reliance Tax Saver Fund (ELSS) has consistently beaten its peers as well as its benchmark almost every year since its inception. Even in a tough year for equities like we observed in 2016, this Reliance AMC fund makes it on the best ELSS funds list having garnered returns in excess of 29% annually in FY 2016-2017.

Birla Sun Life Tax Relief 96

The Birla Sun Life Tax Relief 96 fund was first introduced for investment in 1996 and since then it has managed to hold its own through multiple market booms and busts. Having followed a multi-cap investment strategy in the past few years, the fund has shown robust growth with an ROI exceeding 23% in the past year.

Birla Sun Life Tax Plan

Odd though it may seem, Birla Sun Life Mutual Fund AMC is one of the few fund houses that has managed to produce not one but 2 of the best ELSS funds out there. The returns of the Birla Sun Life Tax Plan for the previous year exceeded 23%, which makes it one of the best performing tax saver mutual funds out there.

Franklin India Tax Shield

It would be plain impossible to create a best mutual fund list even a best ELSS funds list without at least one product of Franklin India Mutual Fund AMC appearing on it. The Franklin India Tax Shield is the premium tax saver fund available in India right now an even though 2016 might have been a tough year for this open-ended fund, we expect it to perform much better than its previous year’s 23% ROI in the coming years.

Mirae Asset Tax Saver

Mirae Asset Management AMC is the veritable new kid on the block and its ELSS tax saver fund was launched pretty recently in December 2015. However in less than 2 years, this mutual fund has distinguished itself by providing an annual ROI in excess of 38% in the past year. Even though this fund deserves inclusion in the best ELSS funds list based on just its past year’s returns, its aggressive strategy of high exposure to mid and small cap mutual funds might actually be a problem in the long term.

Conclusion

The above best ELSS funds list is meant to be short and designed to serve as a guideline only. Once must always remember that mutual fund investments are subject to a degree of risk especially because they are market-linked investments and prone to uncertainty. However, more often than not, a fund that has performed well in the past tends to perform almost equally in the future too unless there is a marked change in strategy or a change in fund management.

Best Methods on Facebook Supporters

Obtaining followers on twitter is not consequently problematic in the event you just do it appropriate. Online business people go crazy discovering strategies about discover ways to obtain tweets enthusiasts rapidly. In operation, every second will be efficient along with sacrificing their occasion obtaining brand-new followers on his or her tweets account can be doubling their workloads. Nevertheless there are ways on how to acquire twitter fans quick and I'd choose to talk about this along. You can need to have this info to cultivate your company.

If you need to entice a lot more guests and also increase brand-new twitter followers, it's important to create a holding user profile inside twitter. Create a real photograph regarding your own house, tailored it and ensure in which what you may have written in the resource will be detailed. Moreover, compose you're the reasons you are a section of twitter. Furthermore, customize the background of one's twitting bank account to seize much more attention so that you acquire implemented instantly.

After you have an spectacular profile, you might be now prepared to interact socially. Right off the bat you'll carry out would be to search out individuals to follow. Exactly where is it? Initial, visit to whom in order to follow" website throughout twitting in order to find those with the identical curiosity because your own house. Or maybe if you're not contented, you should utilize applications upon twitter whereby you will discover certain persons to change to become the perfect twitter supporters. 

Finally, you are able to seek for local community sites or even walk web sites in which twitter buyers sign up for. Folks on that site are going to observe and turn into followed if you 've got exactly the same issues in keeping. It's a manual tactic to getting twitter followers though quite effective.

Which is the greatest and also no-cost approach upon getting more tweets followers. Due to the followers will be the similar along, this gainer's be arduous that you should connect to all of them. This method could be very effective. Just be helpful and try to assist them his or her factors as well as for good you will be adopted.

By simply tweeting inspiring rates, motivating emails they might require might make them including you for certain. Which maybe time they are going to build for your faithful fans. Which is the period that the enthusiasts of one's friends will add anyone while nicely along with to his can be an efficient issue! For internet marketers, you have to twitter update linked information regarding your merchandise as well as solutions.

This strategy is extremely ideal for on-line internet marketers along with need-to-be well-known individuals due to in a very brief time frame; they're going to find twitting enthusiasts without having to spend some time and. The dealer in the facebook followers will be the one particular performing it for you personally. This way, it will save you your time and efforts via receiving supporters physically and will also be further productive with your organization as well as crucial things.

Revealing diverse twitter posts is named rewet once you find twitter posts which were value to talk about after that rewet this. It'll probably moreover supply help expose you to diverse tweets consumers.

Simply by retreating attention-grabbing twitter updates and messages, men and women will including you and also can definitely include you. Simply make sure that to never go crazy. The excellent and different tweets tend to be most highly valued by a lot of of which.

Barbara Elliott is well-experienced writer and blogger at PhDify.com. She knows a lot about staff development, job searching and human resources management. Also Barbara enjoy Design and Photography.

Get a Good and Cheap Car with the Help of Secured Loan

We can find that many benefits are offered to us when we apply for a secured loan. Relatively you will be presented grand terms, APR, and your loan gets approved easily. Due to the verity to facilitate with this nature of loan you as the borrower are giving up security to the loan provider to employ in case of non-payment.

So there is always very less peril to the loan provider and they will give you as much loan as you want, at the rate of interest you want. When applying for a loan you need to offer some value such as your home. Even when you apply for secured car loans you have to fill the form and submit your documents, which would prove that you are the resident of the country.

Unlike the secured loans, the car finance or the car credit also have many formalities to be fulfilled and also an application is to be filled up. And once you have finished filling the application, then with in span of one hour you will get the response from the lender.

But unlike other loans here you have to give some important information of yours like your proof of employment, verifiable tax information, active bank statements, credit history reports, proof that you are 18 years and older, your recent tax returns, proof of ownership of collateral. And for secured loans there are many forms of collateral like some people offer their car, ship but mostly offer their home.

Tips for the Low-Priced Car Insurance Rates

It might be more suitable to shell out your KS car insurance once in a month by regular removal but this alternative is more costly for the assurance company to put into practice. If you can manage to pay once in a year, you are putting aside the assurance corporation some executive expenses. This discount is supposed to be agreed all along to you.

When you purchase accident and inclusive coverage for your means of transportation, you are receiving coverage for the alternate price of the car. This is dissimilar from getting coverage that will finance a latest car if you are in complete debt. In a circumstance where you are making expenses on your car, the lender will probably be adamant that you boast with this sort of coverage. But when your car is being shelled off it might not make lots of sense for you to carry on to have this defense in place.

If your car is totally free from the finance and at present its value is less than $1,000, you may want to keep your liability assurance in place as well as go down to the different reporting. This would save you a small amount of funds, which can be used for other purpose.

Barbara Elliott is an insurance consultant. She knows about current developments in business and finance, how to build and maintain working relationships with companies. Also Barbara has a blog at https://phdify.com/ , where she makes her academic writing perfect.

How to Save Tax in FY 2018-19

Paying taxes is important keeping in mind the country’s public infrastructure and facilities. When we want our country to prosper with all good infrastructure and facilities, paying tax is one way to contribute towards it. Studies show that only one-third of the total population in India is eligible to pay income tax. This is because India is a developing country and a significant amount of people earn less than 2.5 lakh annually. Hence, every individual who earns a taxable income should be proud to be a part of a taxpaying population of India.

While paying tax is a statute in India, there are also a good many ways to save your tax outgo legally. Anyone earning less or equal to 2.5 lakh per annum do not have to pay tax. However, any income earned more than 2.5lac is taxable under different tax slab. Note that the tax rates are bound to escalate with every minor boost in income. So regardless of how much taxable income you produce, the government also provides certain tax-exemptions & deductions with which you can save tax legally and pay a lesser amount of income tax eventually. Here is a lookout for few such tax-saving options:-

1. Tax-saving option u/s 80c of the I-T Act, 1961

The most popular tax-saving options for individuals and members of Hindu Undivided Families (HUFs) are provided under this section of the I-T Act. Section 80c of the I-T Act includes various expenses and investments on which a taxpayer can claim the deduction and enjoy maximum savings. The maximum amount of deduction one can claim under section 80c of the I-T Act is Rs. 1.5lac. The taxpayers can use this entire amount in one financial year to reduce their tax outgo.

2. Tax-saving options other than section 80c of the I-T Act 1961

Apart from the tax exemptions provided to people under section 80c, there are quite a lot of health insurances premiums, home loan and post office saving schemes with which one can save money on income tax. In addition to this, taxpayers can also save a good amount of tax by creating a Hindu Undivided Family (HUFs) - a group of married Hindu individuals. HUF would also include a creator or Karta and his/her family members. The advantage of creating a HUF is that you can divide your income into two entities – one is you yourself as an individual tax-paying entity and second is via HUFs. This way you can claim tax deductions twice and save money significantly in the long run.

How you can save tax in the financial year 2018-19?

The basic criterion to save tax is same as that of the previous year like you must start preparing your tax-saving reserves at the start of the financial year. Most taxpayers start preparing for it at the eleventh hour when the financial year is about to end. As a result of which they are not left with enough time to plan things smartly and options for investment. More often than not, decisions taken in haste do not prove to be beneficial. If you plan at the beginning of the financial year, you will have ample of time to pick and choose the best investment option that may not only help you save tax but also assist you in fulfilling your long-term goals. You must also note that the tax-saving investments you make at the beginning of the FY 2018-19 should be used to make wealth as well and not just to save tax.

Things to keep in mind while making tax-saving investments for the FY 18-19

1. Check whether the tax-saving expenses that you are making now shall be claimed later or not. This includes expenses related to your child’s tuition fees, insurance premium, health insurance, investment in savings scheme to name a few. Deduct this amount from 1.5 lakh to understand how much more you need to invest. Always remember that you need not have to invest the entire amount that is taxable if the operating expenses are covering some portion of it.

2. Always choose your tax-saving investments keeping in mind your goals. Investment in Equity-Linked Savings Scheme, Public Provident Fund (PPF), National Saving Certificate (NSC), Sukanya Samriddhi Yojana, EPF, NPS are some of the popular options that come with a significant amount of tax savings benefits.

Conclusion: - In the recent announcement, the standard deductions are made under budget 2018, while the structure of the income tax slab remains the same. In addition to this, the tax liability of citizens has also been raised in the union budget 2018 except for some categories of senior citizens. For this reason, the taxpayers of the country are required to be more vigilant in making tax-saving investments.

A word of advice: - Since tax-saving is a complicated process, you need to be calm and composed while making decisions. Also, blindly following your fellow colleagues and making same investment may not always work in your favor. This is why it is imperative to look at your goals and profile before making an investment. Also, investing the entire amount that is liable for a tax deduction (as per your income slab) is not important if your expenses are covering it.

All You Want To Know About Post Office Schemes

Post office is one of the major banking service providers in India. It is owned and managed by the Indian government. The fact that the Department of Posts offers several investment schemes for all genres of people is the reason why most people especially senior citizens and retirees prefer post office schemes over other investment avenues. If you’re also planning to invest in post office schemes, here’s a sneak peek into the details of everything you want to know about the post office schemes.

Different Types of Post Office Saving Schemes

1. Post Office Savings Account: - The post office savings account is opened only by the cash deposit of a minimum of Rs 500/-. To keep the account active, at least one transaction each of deposit and withdrawal has to be made using this account in three financial years. The deposit and withdrawal of money in the post office savings account can be done through electronic mode at the core-banking (CBS) post offices. An account holder can transfer their PO savings account from one post office to another as and when required. To avail the cheque facility, maintaining a minimum balance of Rs.500/- in the account is a must. However, minimum balance to be maintained is a non-cheque facility account is Rs 50/-.

2. Sukanya Samridhi Yojana: - This scheme is for better rearing and bright future of your daughter. The Sukanya Samridhi Yojana scheme can be taken for your girl child of up to 10 years of age. Parents of a twin-girl child can open a maximum of 2 accounts under this scheme. The minimum of Rs.1000/- can be deposited in this scheme and it may exceed a maximum of Rs 1, 50,000/- per year. Legal guardian or parents can open the account in the name of the girl child. Sukanya Samridhi Yojana scheme can be closed after completion of 21 years. One can even opt for a normal premature closure of the account after completion of 18 years however the girl should be married by then.

3. Senior Citizens Savings Scheme (SCSS): - Any individual aged over 60 years of age can open this account. Plus, retirees on superannuation or under VRS can also enroll in for this scheme provided the account is opened before the completion of one month of the receipt of retirement. The maturity period of SCSS is 5 years and one can run more than one senior citizens savings account both singly and jointly with their husband or wife.

4. Kisan Vikas Patra: - It is a savings certificate scheme launched by the Department of Posts in the year 1988. As part of the scheme, an individual can purchase the certificate also known as the Kisan Vikas Patra for himself or on behalf of a minor from any departmental post office. The Kisan Vikas Patra can be transferred from person to the other and from one post office to the other conveniently. Also, it can be en-cashed after one and a half year or two from the date it has been issued.

5. National Savings Certificate: - This scheme is specially designed for government employees, entrepreneurs and other salaried individuals who are taxpaying citizens of the country. Though there is no maximum limit on the purchase of National Savings Certificates, an investment of up to 1.5 lakh is tax-free u/s 80C of Income Tax Act. 

In addition to this, other prominent post office savings schemes include Post Office Time Deposit Account, Post Office Monthly Income Deposit Account, 5-year Post Office Monthly Recurring Deposit and the most common Public Provident Fund (PPF) scheme. 

The interest rates on Post Office Savings Scheme 

To help you know more about the post office savings scheme, the table below highlights the interest rates of different post office saving scheme:-

Post Office Schemes	Applicable interest rates	Rate of compounding
Post office savings account	4.00%	Quarterly
Sukanya Samridhi Yojana	8.1%(with effect from​ 1-01​-2018​​)	Annually
Kisan Vikas Patra	7.3%(with effect from​ 1-01​-2018​​)	Annually
National Savings Certificate	7.6%(with effect from​ 1-01​-2018​​)	Annually
Post office monthly income scheme account	7.3%(with effect from​ 1-01​-2018​​)	Annually
15-year Public Provident Fund	7.6%(with effect from​ 1-01​-2018​​)	Annually
Senior Citizens Savings Scheme (SCSS)	8.3%(with effect from​ 1-07​-2018​​)	Quarterly
1 Year Post Office Time Deposit	6.6%(with effect from​ 1-01​-2018​​)	Quarterly
2 Year Post Office Time Deposit	6.7%(with effect from​ 1-01​-2018​​)	Quarterly
3 Year Post Office Time Deposit	6.9%(with effect from​ 1-01​-2018​​)	Quarterly
5 Year Post Office Time Deposit	7.4%(with effect from​ 1-01​-2018​​)	Quarterly

The Bottom Line

It is an incongruity that most people in India are not aware of such government-based savings schemes offered by the Department of Post and, thus continues to invest in bank fixed deposits and other related schemes. It may also come as a surprise to many that post office savings scheme constitutes of more than 6lac crore balance in its savings scheme deposits, which is almost half of what the biggest public sector bank SBI holds and twice the deposits ICICI – the largest private sector bank holds in India.

With its unparalleled reach, post offices cover almost every part of the country with 95 percent pin code coverage. Furthermore, a post office primarily covers a large part of rural areas where there are no banks so far. The process to apply for post office savings scheme is simple and can be useful for the investors in the long run. In addition to this, India Post offers insurance schemes as well and with a huge array of savings schemes that truly transforms it into a financial giant with the best in class reach, brand and saving schemes that Indians trust. Credibility is also not a problem here because the Department of Posts of fully controlled and managed by the Government of India that makes umpteen efforts to make your post office saving experience highly valuable and of use.

How to Find the Best Rates for a Loan by Using a Loan Calculator

A loan calculator has appeared as a boon for all those people who like to keep their expenses and financial disbursals streamlined. This online tool is not only used to determine the loan eligibility but is also used to calculate and find the best rates on a loan. To put it simply, a loan is one of the common ways to cope up with the urgent money requirements; however, to settle the loan amount, a borrower has to pay fixed monthly EMIs to the bank throughout the loan term.

An EMI stands for the Equated Monthly Installments that the borrower has to pay to the lender within the stipulated period of time. One must calculate the loan EMI prior to getting a loan as it helps him borrow the amount which can be easily repaid. Initially, the interest component of the EMI would be larger than the principal amount, but as soon as the loan depreciates, the principal component forms the major part of the EMI.

Here’s the formula to calculate EMI

E = P .r. (1+r) n / ((1+r) n – 1), where,

E stands for EMI

P is the principal loan amount you are applying for

R is the interest rate calculated on the monthly basis (it can be calculated as rate of annual interest/12/100. So if the interest charged by bank is 10.5% per annum, it can be calculated as 10.5/12/100 = 0.00875)

N is the loan tenure or the duration in number of months

So let’s suppose if your borrowed Rs 10, 00,000/- as loan from the bank at an annual interest rate of 10.5% for 10 years (or 120 months) that your monthly EMI would be

10, 00,000 * 0.00875 (1+ 0.00875) 120 / ((1+0.00875)120 -1) = Rs. 13, 493/-

Now the total amount payable to the bank against the loan will be Rs. 13, 493/- * 120 = 16, 19,220 of which 6, 19,220 will be the total interest that you need to pay to the bank.

Applicants who are not good at calculations or are looking for a much simpler way to find the best rate for a loan can use the loan calculator to get accurate results.

How to use loan calculator?

Loan calculator comes with a user-friendly interface and is extremely easy to use. All you need to do is to visit the official website of the particular bank from where you want to apply for a loan. search for the online loan calculator on the home page of the website and once you find the tool, you need to fill in some essential information related to the loan that includes:-

1. The principal loan amount that you want to avail (in Rs.)

2. The loan term (in months or years)

3. The rate of interest (in percentage)

4. Advance EMIs or EMI in arrears (applicable for car loan only)

5. Some loan calculator tool may also ask for the processing fee that the bank charges on every loan.

Upon entering these details in the loan calculator, click on “Submit” to get the results instantly. You can make as many searches you want using a loan calculator to examine the monthly EMI and loan amount that you can easily repay. Note that the use of loan calculator is extremely free of cost. Since it can be accessed online, it saves a lot of your time that you would otherwise spend in visiting the bank personally. Accuracy is yet another advantage of using loan calculators. So next time you apply for any loan, your first step will be to search results on the loan calculator and then visit the bank for further queries and apprehensions.

Reduce Your Income Taxes by Owning a Home Business

Tax system is complex. Each year a thousands of people struggle to save tax but end up paying more than they actually should. If you too are amongst such taxpayers, you must seek advice from a tax specialist or an accountant who would guide you on how to deposit your tax wisely. Besides, you may also reduce your income taxes by owning a home business. Here’s how?

Let’s suppose you have a full-time job but you are also a travel consultant who runs a small business at home. So now since you run a business from home, you must be using a car to travel back and forth possibly to drop off your business advertising pamphlets. It could also include your supermarket visits, grocery shopping, etc (coincidentally) while on the way to post a flyer or meet some client related to your business, which makes 90% of your automobile expense tax deductible. In view of the fact that you have an office in your house, you claim at least 30% tax deductions from mortgage interest, house maintenance, water bill, electricity bill, rent (if you don’t own a house), repairs made in your house for business, etc. The use of telephone, internet and any other facility that is required to conduct a business from home can also be claimed as business deductions.

Furthermore, if your business requires you to travel to places within or outside India, your airfares, meals while traveling, hotel accommodation, car rental, the purchase of any types of equipment like video, camcorder and cell phones are other essential tools for your travel business that will be entirely tax deductible. This way you can save a lot of money that you would otherwise use to pay taxes. However before taking the plunge and claiming tax deductions from your home-business make sure you meet IRS qualification that states that your home should be your principal place of business. However by any chance, you operate your business from a separate location other than your home; you cannot claim deductions for use of your home. Still, IRS determines a few factors to approve the deduction:-

1. The relative importance of activity that is performed at each of your business location

2. How much time you spend at each of your business location

If you manage your business solely from home, you’ll have to abide by the following clauses:-

1. You use the business place at home solely for business activity, management and administrative purposes.

2. Apart from your home, you have no other fixed place to conduct the business management and administrative work. However, you may do some business related work outside your home. For instance, your car.

Other than this, to get the IRS approval, you are required to prepare an IRS audit that ensures that you are not violating any rule or regulation and your home office is used "regularly and exclusively" for business purposes. One important point to note is that home business deductions are limited. You can claim deductions for your home business expenses to reduce your business income for the year, but if you had a business loss, these deductions are not possible in any circumstance. Also, not all home businesses are treated the same and may reduce your yearly taxes. There are special rules applicable to daycare business operations and if you use your home for storage space, you must seek advice from an accountant or tax attorney to come up with a better tax-saving alternative.