Tag Archives: Tax adviser in India

tas adviser in india

TAX PLANNING WITH MUTUAL FUNDS

Mutual fund is an investment programme funded by shareholders that trades in diversified holdings and is professionally managed.Your Fixed Deposit may be offering decent returns with little option for liquidity, while the stock market may give you decent returns with easy liquidity and slightly higher probability of losses. A Mutual Fund is a fine balance between the two offering you good returns while providing you with decent liquidity.

Tax saving mutual fund schemes or ELSS (Equity Linked Savings Schemes) are one of the best tax-saving option available under Section 80C, qualifying for up to Rs.1.5 Lakh of income tax deductions. Similar to other tax saving options, ELSS also comes in with a mandatory 3 year lock-in period.Always consider the taxation policy before investing.

Funds are invested in the equity markets in such a way that even if one investment incurs losses, the other investment manages to mitigate the loss. Despite this, investment in stocks may inherently be volatile and should be done only after assessing your risk appetite. Also, even though ELSS has a mandatory 3 year lock-in period, investment should be done if you are open to 5-7 years of investment horizon as they can offer superior returns over a long period.

Some tax-saving schemes are as follows:

  • Tata India Tax Savings Fund – Direct (G)
  • L&T Tax Advantage -Direct (G)
  • Aditya Birla SL Tax Plan Direct-G

With professionally managed Mutual Funds, you can be assured that your investments are managed by people with many years of experience with market analysis. They will have enough knowledge to take calls on buying and selling those stocks and other investments. This is particularly helpful if you do not have the knowledge or time to handle individual stock or fixed-income investments.

If you are new to the entire investment scenario, it is advised to seek professional help. Professionals can advise on the available range of viable investmentsand will help you chalk out your entire investment plan. We canalso assist you with our tax advisory services at AJSH & Co LLP.

If you have any query regarding this Click Here.

GST consultant in India

FAQ’s on levy of GST on supply of services to the co-operative society

  1. Services provided by the Central Government, State Government, Union territory or local authority to a person other than business entity, is exempted from GST. So, Property Tax, Water Tax, if collected by the RWA/Co-operative Society on behalf of the MCGM from individual flat owners, then GST is not leviable.
  2. Similarly, GST is not leviable on Non-Agricultural Tax, Electricity Charges etc, which are collected under other statutes from individual flat owners. However, if these charges are collected by the Society for generation of electricity by Society’s generator or to provide drinking water facility or any other service, then such charges collected by the society are liable to GST.
  3. Sinking fund, repairs & maintenance fund, car parking charges, Non- occupancy charges or simple interest for late payment, attract GST, as these charges are collected by the RWA/Co-operative Society for supply of services meant for its members.

If you have any query regarding this Click Here