NSDL / CSDL Consolidated Account Statement

NSDL / CSDL Consolidated Account Statement (CAS) is single statement of all Investments in securities market. CAS includes Investments in equity markets, preferential shares, Mutual Funds, Bonds, Debentures, Securitized Instruments, Money Market instruments, and Government securities held in various demat accounts.

CAS is part of vision to bring overall financial assests held in demat accounts, mutual fund folios in single view. SEBI has introduced CAS after the directions by Finance Ministry in the Interim Budget 2014. CAS helps you to monitor the Investment portfolio, Value and Composition.

CAS gives dynamic, detailed and graphical representation of Investment. CAS will show the various demat account held by you , secondly portfolio value trend implies your monthly movement of values then CAS provides you with holding in various asset classes with value. If you have e-insurance account for health and life insurance, that will also reflected in you CAS. Single statement of all your financial products.

Mentotax recommends you to activate and receive your Consolidated Account Statement. CAS helps you to monitor performance of Investments. CAS supports in rebalancing and restructuring of Investment.

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Are You Keeping Track Of Your Money??

Are You Keeping Track Of Your Money??

Tracking your money is foremost important like earning it. Tracking of money will help you to identify the spending patterns and assist you in exploring deeper issues with finance.

Tracking Expenses may be boring, monotonous and time consuming. If you move ahead and track you expenses it will bring changes to your finances. Tracking with purpose helps you to bring decipline.

Why you should track money??

* To know where your money goes

* Identify spending patterns and problem areas

* To align your money with financial goals

* Help you to know your priorities

* Assist you in monitoring your progress

Tracking boosts you to identify reality of money and makes you set acheiveable goals and bring permanent changes to your finances.

Mentotax recommends you to budget your finances and keep track of all your expenses.

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Form 16

Form 16

Need To Exempt Rs 20000 From Taxable Income?

Need to exempt Rs 20000 from Taxable Income?

Infrastructure is the back bone of the Nation. Government and Other Institutions requires huge sum for investing in infrastructure activities and growth. To raise the funds from public for infrastructure development of the nation, government and other institutions float bonds. Bonds are good instruments to borrow capital from public.

Section 80 CCF of Income tax act is a special provision enacted by government in 2010 benefiting the investors and to promote investments in Infrastructure bonds scheme. Section 80CCF provides taxpayers with a deduction on the amount invested in specific government or approved infrastructure bonds up to Rs 20000 per year on total taxable income.

Infrastructure bonds will be issued with a minimum tenure of 10 Years with mandatory lock in period of 5 years. Interest from the infrastructure bonds are taxable as per the slabs under Income from other sources. To avail the tax benefits under section 80 CCF investor should be an individual or HUF.  Only residents can enjoy the benefits.

Mentotax recommends you to utilise the opportunity to reduce taxable income by investing in the Infrastructure bonds. Maximum deduction of Rs 20000 of invested amount is exempted from taxable income under section 80 CCF of Income tax act..

Individuals in 5% tax slab can save Rs 1040/- Taxpayers in 20% tax slab can save Rs 4160/- and Assesse in 30% tax slab can save up to Rs 6240/- by investing in infrastructure bonds.

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Know Your Important Dates

Know Your Important Dates:

It is necessary and mandatory to know few important days for financial planning. Key days need to be noted and kept in front of you always.

Mentotax recommends you to keep the following days handy.

Equated Monthly Installment:
You need to know your loan installment due date. Nowadays people have multiple loans so it is essential to know the EMI due date. Missing instalment will end you in penalty and return charges. Missing installment can affect your credit score. Mentotax recommends you to keep the installment date handy.

Premium Payments:
Remember to pay your Life, Health and General Insurance premium before due date. Life cover , Health cover and other protection gets ceased on the due date. Missing insurance premium payment may end up in financial loss and Mentotax recommends you to note down  various Insurance payment dates.

Systematic Investment Plan:
Investment via SIP is preferred mostly by all categories of investor. Investing via SIP is more beneficial and Investor need to know the SIP dates to avoid ECS/other return charges. Mentotax recommends to fund your debit account in advance and remember the SIP debit date.

#Mentotax #SIP #EMI #INSURANCE

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Teach Money Management To Kids

It's always important to impart money management concepts in kids for better understanding and utilisation of money. Children learn how to handle money only by seeing the parents. your attitude about money matters, be careful to set good example.

Teach to save: Encourage your child to save. Set up a process for saving money in piggy bank or in account. Monitor at intervals. Use the money for acheiving child goals.

Teach to share: Boost your child savings and help them to identify the ways to spend money for helping others.

Teach to shop: Before your child purchases , tell them the alternate ways to spend the money.  Teach them to shop by comparing prices and quality.

Teach to Invest: Start preaching small concepts of money as they grow. Simple Interest, Compounded interest , etc.. make them understand the power of money. To make money, one needs money.

Involve them in financial planning: your children play a vital role in your life goals. Tell them how they contribute to achieve the goals. Let child know your budget.

Mentotax recommends you to teach your kids with the best ways to utilise the money. Involve them in all the financial decisions of your family.

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Atal Pension Yojana

Atal Pension Yojana is a pension scheme stated in May 2015 by Government of India initially for  unorganized sector workers and opened for all subscribes later. APY is administered by Pension Fund Regulory and Development Authority.

Atal Pension Yojana can be availed by all citizens in age between 18 to 40 Year's. Subscribe must have savings bank account to apply for APY. Subscribes can select their monthly pension between Rs 1000/- and Rs 5000/-

APY subscriber who had started investing at 18 years need to pay monthly contribution of Rs 42 for Rs 1000 and Rs 210 for Rs 5000/-

If subscriber has selected higher pension, APY will start paying Rs 5000 from 60 years until the diemeise. Then pension will be paid to the spouse of the subscriber and nominee will receive the corpus after the dismissal of subscribers spouse.

Mentotax recommends you to Invest in Atal Pension Yojana for Maximum Pension amount of Rs 5000/- Also advises to start as a couple so that monthly pension of Rs 10000/- can be availed.

Contribution towards Atal Pension Yojana is exempted from income tax under sec 80CCD(1B).

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#Mentotax #Tax #APY #Invest

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