Sovereign Gold Bonds

Highlights of the scheme:

Eligibility: Resident Individuals, HUFs, trusts, universities, charitable institutions, etc

Application Date: January 18 to 22, 2016

Bonds Issue Date: February 8, 2016

Price of each Bond: Rs 2,600 per bond [Weekly average price of closing price of gold of 999 purity as per India Bullion and Jewellers Association Ltd]. The first tranche was issued in November 2015 at Rs 2,684 per gram.

Interest Rate: 2.75% per annum payable semi-annually in the bank account

Minimum Investment Limit: 2 bonds

Maximum Investment Limit: 500 bonds per person per financial year

Tenure: 8 year [early exit possible from 5th year on wards interest payment dates]

Where to buy? Banks, Designated Post Offices and Stock Holding Corporation of India Ltd. (directly or through agents)

 Application Form: You can download the form from RBI website or from respective banks. Also some banks might have option for online application.

KYC Documents: Voter ID, Aadhaar card/PAN or TAN /Passport i.e same as for purchase of physical gold

Payment Mode: Demand Draft, Cheque or Electronic Payment. Cash payment can only be done up to Rs 20,000.

Joint Holding: Possible (the maximum limit applies to first holder only)

Investment in the name of Minor is possible to be made by his/her guardian

Redemption Pricing: Based on previous week average price of closing price of gold of 999 purity as per India Bullion and Jewellers Association Ltd

Loan: bonds are allowed as collateral. The loan to value can be same as in case of physical gold

Listing: The bonds would be listed on stock exchange and can be sold/bought though demat account

Taxation of Sovereign Gold Bond:

There are two parts to taxation:

1. The interest received is added to the income and taxed at the marginal tax slab.
2. On redemption of the bond any gains would be considered as capital gains as in case of physical gold and taxed accordingly. If the bonds are sold with in 3 years of purchase its short term capital gains and is taxed at marginal tax rate. In case the sale is after 3 years its long term capital gains and is taxed at 20%, with indexation benefit

For more details:
http://apnaplan.com/sovereign-gold-bond-jan2016/#

Cleanliness

The most important places to keep clean and tidy are my mind and heart. If I allow thoughts to flourish that I wouldn't want to see the light of day, I can never have any real self-respect. By starting each day in quiet reflection and pouring positive, loving thoughts into my mind, I gradually clean out cynicism and unkindness.

Spaces Of Silence

Push yourself like a machine and you will eventually run low on energy. Love your mind by allowing it spaces of silence and it will serve you tirelessly.

Enemy of Happiness

The enemy of happiness is wasteful thoughts. To stop yourself from thinking wasteful thoughts focus your mind on God.

Solutions

We are never without the solutions to our problems. It's just that sometimes we may have to wait a little. Learn how to remain peaceful and patient.

Deva Ji VIP Plaza -Lohari Party

National Youth Day-12 January

National Youth Day is celebrated in India on 12 January on the birthday of Swami Vivekananda. In 1984 the Government of India declared the day as the National Youth Day and since 1985 the event is celebrated in India every year.

Swami Vivekananda, known in his pre-monastic life as Narendra Nath Datta, was born in an affluent family in Kolkata on 12 January 1863. His father, Vishwanath Datta, was a successful attorney with interests in a wide range of subjects, and his mother, Bhuvaneshwari Devi, was endowed with deep devotion, strong character and other qualities. A precocious boy, Narendra excelled in music, gymnastics and studies. By the time he graduated from Calcutta University, he had acquired a vast knowledge of different subjects, especially Western philosophy and history. Born with a yogic temperament, he used to practise meditation even from his boyhood, and was associated with Brahmo Movement for some time.

Swami Vivekananda's lectures and writings, deriving their inspiration from Indian spiritual tradition and the broad outlook of his Master Sri Ramakrishna, are a source of inspiration and have motivated numerous youth organizations, study circles and service projects involving the youth. All his teachings can be found in The Complete Works of Swami Vivekananda, in nine volumes, published by Advaita Ashrama, Kolkata.

It is well known that the Government of India had declared to observe the National Youth Day every year on the birthday of Swami Vivekananda on 12^th of January. It was decided by the Government of India in order to inspire all the youths of country towards the philosophy of Swami Vivekananda and his ideals. The birthday of the Swami Vivekananda was decided to be celebrated as the National Youth Day to complete the aim of making better future of the country by motivating the youths through the way of life and ideas of the Swami Vivekananda.
It is the aim of great importance of distributing the ideas and ideals of the Swami Vivekananda among the youths of India. It is the great way to wake up the eternal energy of the youths as well as their big efforts to make the country developed.

National Youth Day Quotes

Following are some famous quotes on national youth day said by the Swami Vivekananda:

• “Choose the highest ideal and live your life upto that. Look at the “ocean” and not at the wave”. – Swami Vivekananda
• “A few heart-whole, sincere, and energetic men and women can do more in a year than a mob in a century”. – Swami Vivekananda
• “Religion is the manifestation of the Divinity already in man”. – Swami Vivekananda
• “Struggle hard to get money, but don’t get attached to it”. – Swami Vivekananda
• “He who sees Shiva in the poor, in the weak, and in the diseased, really worships Shiva”. – Swami Vivekananda
• “Each soul is potentially divine”. – Swami Vivekananda
• “Talk to yourself once in a day…Otherwise you may miss meeting an EXCELLENT person in this World”. – Swami Vivekananda
• “My faith is in the younger generation, the modern generation, out of them will come my workers!”. – Swami Vivekananda
• “Work, work, work – let this be your motto”. – Swami Vivekananda
• “The earth is enjoyed by heroes—this is the unfailing truth. Be a hero. Always say, “I have no fear””. – Swami Vivekananda
• “Feel that you are great and you become great”. –  Swami Vivekananda
• “My hope of the future lies in the youths of character, intelligent, renouncing all for the service of others, and obedient – good to themselves and the country at large”. – Swami Vivekananda
• “Death being so certain, it is better to die for a good cause”. – Swami Vivekananda
• “Your country requires heroes; be heroes; your duty is to go on working, and then everything will follow of itself”. – Swami Vivekananda
• “Arise! Awake! and stop not until the goal is reached”. – Swami Vivekananda
• “You cannot believe in God until you believe in yourself”. – Swami Vivekananda
• “When an idea exclusively occupies the mind, it is transformed into an actual physical or mental state”. – Swami Vivekananda
• “It is best to work among the youth in whom lies our hope — patiently, steadily, and without noise”. – Swami Vivekananda
• “The child is father of the man.” Would it be right for an old man to say that childhood is a sin or youth a sin?” – Swami Vivekananda

Reference:

http://www.vivekanandahouse.org/about-vivekananda
https://en.wikipedia.org/wiki/National_Youth_Day_%28India%29
http://www.indiacelebrating.com/events/national-youth-day/

Pension Plans - Jeevan Akshay VI ( UIN - 512N234V04 )

Options Available:

The following options are available under the plan

• Type of Annuity:
  
• Annuity payable for life at a uniform rate.
• Annuity payable for 5, 10, 15 or 20 years certain and thereafter as long as the annuitant is alive.
• Annuity for life with return of purchase price on death of the annuitant.
• Annuity payable for life increasing at a simple rate of 3% p.a.
  
• Annuity for life with a provision of 50% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
• Annuity for life with a provision of 100% of the annuity payable to spouse during his/her lifetime on death of the annuitant.
• Annuity for life with a provision of 100% of the annuity payable to spouse during his/ her life time on death of annuitant. The purchase price will be returned on the death of last survivor.

You may choose any one. Once chosen, the option cannot be altered.

Mode:

• Annuity may be paid either at monthly, quarterly, half yearly or yearly intervals. You may opt any mode of payment of Annuity..

Salient features:

• Premium is to be paid in a lump sum.
• Minimum purchase price :
• Rs.100,000/- for all distribution channels except online.
• Rs.150,000/- for on line sale.
• No medical examination is required under the plan.
• No maximum limits for purchase price, annuity etc.
• Minimum allowed age at entry is 30 years (completed) and Maximum allowed age at entry is 85 years (completed).
• Age proof necessary.

Annuity Rate:

Amount of annuity payable at yearly intervals which can be purchased for Rs. 1 lakh under different options is as under:

Age last birthday	Yearly annuity amount under option
	( i )	( ii ) (15 years certain)	( iii )	( iv )	( v )	( vi )	(vii)
30	7190	7160	6890	5250	7080	6970	6860
40	7510	7440	6930	5610	7310	7120	6890
50	8140	7950	7000	6280	7760	7420	6930
60	9350	8790	7110	7530	8640	8030	7010
70	12080	9830	7260	10220	10560	9370	7130
80	17880	10440	7480	15890	14600	12340	7290

Incentives for high purchase price:

If your purchase price is Rs. 2.50 lakh or more, you will receive higher amount of annuity due to available incentives. In addition of this, for policies sold online, a rebate of 1% by way of increase in the annuity rate shall also be available.

Service Tax:

Service tax, if any, shall be as per the Service Tax Laws and at the rate of service tax as applicable from time to time.
The amount of service tax as per the prevailing rates shall be payable by the policyholder along with the purchase price.

Paid-up value:

The policy does not acquire any paid-up value.

Surrender Value:

No surrender value will be available under the policy.

Loan:

No loan will be available under the policy.

Cooling-off period:

If you are not satisfied with the ?Terms and Conditions? of the policy, you may return the policy to us within 15 days from the date of receipt of the Policy Bond. On receipt of the policy we shall cancel the same and the amount of premium deposited by you shall be refunded to you after deducting the charges for stamp duty.

Section 45 Of Insurance Act 1938:

• No policy of life insurance shall after the expiry of two years from the date on which it was effected, be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the policyholder and that the policyholder knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose.


• Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life assured was incorrectly stated in the proposal.

Section 41 of Insurance Act 1938:

• No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer: provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taken out by himself on his own life shall not be deemed to be acceptance of a rebate of premium within the meaning of this sub-section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer.


• Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life assured was incorrectly stated in the proposal.

Note : For full details please refer to the Policy document or contact our nearest Branch Office.

http://www.licindia.in/jeevan_akshay_plan_009_features.htm

EMPLOYEE PROVIDENT FUND 5 DAYS GRACE PERIOD WITHDRAWN

As per Employee provident fund scheme 1952 ,contribution and other charges for a month is required to be deposit by 15th of next month.Further 5 days grace period was also allowed to remit the contribution.

However wef 01.01.2016 ,e payment of EPF is mandatory ,Accordingly, it has been decided that concession of grace period of 5 days available to the employers for depositing the contribution & other dues is withdrawn herewith. This decision shall apply from February, 2016 (contributions for month of January, 2016 and payable in the month of February, 2016.

 

Read more: EMPLOYEE PROVIDENT FUND 5 DAYS GRACE PERIOD WITHDRAWN | SIMPLE TAX INDIA
Follow us: @simpletaxindia on Twitter | simpletaxindia.org on Facebook

Be At Peace

You spend most of your life running after things, doing things. You forget that being comes before doing. Those who remember this secret make an effort to "be" and discover that when they stop and observe, life helps and brings whatever is needed. Learning to be is learning to be at peace. It is our most fundamental nature.

Business Ideas

(1)  Recruitment Firm

(2)  Online Websit

(3) Freelancing

(4)  Photographer

(5) Personal Tutor or Trainer

(6) Interior Designer

(7) Match Making or Wedding planne

(8) Real Estate Brokerage or Consultancy

(9) Insurance consultant or Agent

(10) Consulting busines

(11) Content writing

(12) Security agency or detective agency

(13) Dance, Music or Drawing school

(14) Career counseling

(15) Fitness or Yoga Teacher

(16) Baby Sitting and Cooking service.

(17) Chocolate maker

(18) Tiffin Service

(19) Event Manager

(20) IT Support service

http://moneyexcel.com/5327/20-business-ideas-require-money 

LIC’s Jeevan Shikhar

LIC’s Jeevan Shikhar Policy 837 is a participating, non-linked with profit, single premium endowment plan wherein the risk cover is ten times of tabular Single Premium. LIC is planning to launch “LIC Jeevan Shikhar Plan No 837” on 11th January, 2016. This is second launch of LIC in year 2016, prior to this LIC has already launch LIC Jeevan Labh 836 policy. Jeevan Shikhar is limited period policy and available only for 120 days from launch date.

Five Signs of Purity for Gold Jewellery

1.BIS Standard Mark
2.Purity Grade
3.Assaying and Hallmarking Center’s mark
4.Year of Marking
5.Jewellers’ Identification Mark

http://apnaplan.com/five-signs-of-purity-for-gold-jewellery/     

National Pension Scheme

Budget 2015 provided for additional exemption of Rs 50,000 for investing in NPS (National Pension Scheme) Tier 1 account u/s 80CCD(1B).

NPS account can be opened by anyone with age between 18 to 60 years. Even NRIs are eligible to open NPS accounts. NRIs can invest through normal banking channels or out of funds held in their NRE/FCNR/NRO account.

For Details: http://apnaplan.com/open-nps-account/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ApnaPlan+%28Apna+Plan%29#

 

Goods and Services Tax

 Goods and Services Tax — GST — is a comprehensive tax levy on manufacture, sale and consumption of goods and services at a national level. One of the biggest taxation reforms in India — the Goods and Service Tax (GST) — is all set to integrate State economies and boost overall growth.

www.gstindia.com/

Sovereign Gold Bond Scheme – Salient Features

Sovereign Gold Bond Scheme – an investment scheme where investors could buy gold in the form of Gold Bonds from Government of India. 

The bonds would be denominated in grams of gold and can be bought by paying in rupees.

The bond will have denominations of 5, 10, 50, 100 grams of gold.

The bonds will be backed by Government of India against default

Only resident Indians would be able to invest. NRI would not be eligible to invest.

The bonds would be distributed/sold by Banks, Post Offices, NBFCs and other intermediaries.

RBI (Reserve Bank of India) would issue these bonds on behalf of Government of India.

http://apnaplan.com/gold-bond-scheme/

Highest Interest Rate on Recurring Deposits (RD) – January 2016

Recurring deposits (RD) with banks are one of the most popular investment options for people with regular income. RD enables to deposit fixed amount every month for a pre-defined period which earns interest similar to Fixed Deposits (FD).

All about Recurring Deposits:

• Most banks offer RDs for tenure of 6 months to 10 Years
• The tenure of RD can be in multiple of 3 months
• The amount of installment and number of installment cannot be changed after opening of the account
• The interest on RD compounds quarterly
• In most cases the interest rate on RD is similar to Fixed Deposits offered by Banks for similar tenures. However some banks like Bank of India gives 0.5% extra interest rate for RD as compared to FD for similar tenure
• The minimum deposit amount can be as low as Rs 100 per month, though some banks may have higher limit
• There can be penalty for missing even one installment.
• In case you miss multiple installments the RD can be closed and amount returned to you
• Most banks offer Loan/Overdraft against the amount available in Recurring Deposit. The interest is generally 0.5% to 1% more than that offered to RD.
• There are penalty clauses for pre-mature withdrawal similar to Fixed Deposits

Recurring Deposit Interest Rates:

Following are the highest Interest rates on Recurring Deposits based on duration:

1. For RD duration of 1 Year The Ratnakar Bank & Bandhan Bank offers 8.50%
2. For 2 years The Ratnakar Bank offers 9.0% and Bandhan Bank offers 8.50%
3. For 3 to 4 Years the best offer is by The Ratnakar Bank offering 8.75% interest rate
4. For 5+ Years RD duration the best interest is offered at 8.75% by The Ratnakar Bank and 8.05% by Tamilnad Mercantile Bank Ltd
5. The Post Office offers 5 Year Recurring Deposit Scheme offering 8.4% interest rate.

Disclaimer: The Recurring Deposit Interest Rates keep on changing. You are advised to check the interest rates with banks before making your RD.

http://apnaplan.com/highest-interest-rate-on-recurring-deposits-rd/

7.74% IREDA Tax Free Bond – January 2016

Salient Features: IREDA Tax Free Bonds 2016

• Offer Period: January 8 to 22, 2016 (the offer can be pre-closed on full subscription)
• Annual Interest Rates for Retail Investors: 7.53% for 10 Years; 7.74% for 15 Years and 7.68% for 20 Years
• The interest rates are 0.25% less for HNIs, QIBs and corporate subscribers.
• 40% of issue is reserved for Retail Investors
• Price of each bond: Rs 1,000
• Minimum Investment: 5 Bonds (Rs 5,000)
• Max Investment Limit for Retail Investor: Rs 10 Lakhs
• Date of first Interest Payment: To be updated
• Can be applied both in Physical and Demat Form
• Allotment: First Come First Serve
• Listing: Bonds would be listed on BSE and will entail capital gains tax on exit through secondary market
• Tax/TDS: As these are tax Free Bonds so no tax is to be paid and there is no TDS on interest

 Tax Free Bonds are suited for people in the tax bracket of 20% or higher who are looking for regular and safe income.

In case you do not want regular income you should first exhaust your Rs 1.5 lakhs PPF limit where the returns are 8.7% and tax free. Salaried employees should opt for VPF before looking at tax free bonds. Both the above options have higher returns, tax free and partial exit options after 5/6 years.

For detail :http://apnaplan.com/ireda-tax-free-bond-jan-2016/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ApnaPlan+%28Apna+Plan%29#

Overview of LIC Jeevan Labh plan

LIC Jeevan Labh  also called Table 836 is a non-linked participating Endowment Insurance Plan.  It offers a combination of protection and saving features.

• The plan is available from ages 8 to 59 years. The maximum age at maturity is 75 years.
• Minimum basic sum assured is ₹2 lakh with maximum basic sum assured having no limit.
• In  LIC Jeevan Labh there are only 3 policy terms with corresponding premium paying term. The customer can select any one of these according to their requirement.The policy terms are 16, 21, and 25 years with premium-paying terms of 10,15 and 16 years respectively. Policy term means till when one would be covered with insurance. Premium Paying Term, PPT, means till when one has to pay premium.
• For example if Rahul , who is 30 years of age, plans to take LIC Jeevan Labh for the term of 21 years which has premium payment term (PPT) of 15 years . He will be covered i.e have insurance till he is 50 years old but he will have to pay premium only till 15 years i.e till he is 45 years. For next 6 years even though he is not paying premium he is still insured.
• LIC Jeevan Labh provides Optional Benefit, Accidental Death and Disability Benefit Rider by payment of additional premium. If buyer opted for this rider, an amount equal to sum assured will be payable if death occurs due to accident. In case of permanent disability due to accident, future premium will be waived and the amount equal to Sum Assured is payable in 10 years equal monthly installments.
• New term assurance rider is also available at the inception of the policy on payment of additional premium. If policy holder opts for this rider, an amount equal to term assurance rider sum assured will be payable on the death of the life assured during the policy term.
• One can take Loan against LIC Jeevan Labh Plan 836 after payment of premiums for at least  3 years subject to conditions: Maximum loan for inforce policy-90% of surrender value and for paid up policies 80% of surrender value.
• One can Surrender after 3 years of full premium payment.
• Paid-up Value = Basic Sum assured x (No. of premiums paid/ Total no. of premiums payable)
• Premium Payment Mode rebate
  • 2% on yearly,
  • 1% on Half Yearly,
  • Nil on Quarterly & Monthly
• Rebate on High Sum Assured (Per 1000 of Sum Assured)
  • 0% up to 4,90,000
  • 1.25% for 5,00,000 to 9,90,000
  • 1.50% for 10,00,000 to 14,90,000
  • 1.75% for 15,00,000 and above
  
  http://www.bemoneyaware.com/blog/
  

Today Message for the day

A deep understanding and an attitude of pure feelings results in positive thinking.
Projection: When we talk about positive thinking, it is usually just 'think positive' and 'be positive'. But just saying this, either to others or to myself, doesn't help to change my thoughts permanently, in fact usually, not even temporarily.
-BK Shivani