Author Topic: TAX SAVING PLANS  (Read 17589 times)

SkS

  • Real Member
  • **
  • Offline
  • Posts: 218
    • View Profile
    • Email
TAX SAVING PLANS
« on: March 18, 2012, 12:33:55 AM »
Dear all
Can u pls tell me what we get after maturity of a PLI policy
Thx

vikram malhotra

  • Guest
Re: TAX SAVING PLANS
« Reply #1 on: March 19, 2012, 11:57:30 AM »
sir g pli k alg alg plan hai jese 7 year 12 year 17 year 22 year or sab par alag alag benifit hai jese mene 12 year ki pli karvai hai sum hai 600000 ka or maturity amount after 12 year is 1070000 hai  thanxxxxxxxxxxxx

suresh chander

  • Guest
Re: TAX SAVING PLANS
« Reply #2 on: March 19, 2012, 01:44:39 PM »
when ur pli matured 1st u go to post office apply there on plain paper with that application u submit ur pli bond and ur pli copy ...................after 15 days u will get ur amount by cheque

SkS

  • Real Member
  • **
  • Offline
  • Posts: 218
    • View Profile
    • Email
Re: TAX SAVING PLANS
« Reply #3 on: March 20, 2012, 02:52:22 PM »
Dear Vikram
there is a rule
1 u got the sum assured
2 7000 per year per lac bonus

what else?

LUBANA

  • Real Savvy
  • *****
  • Offline
  • Posts: 5123
  • Gender: Male
  • LUBANA
    • AOL Instant Messenger - -
    • Yahoo Instant Messenger - -
    • View Profile
Re: TAX SAVING PLANS
« Reply #4 on: August 17, 2012, 04:09:33 PM »
Punjab employees instructed to purchase NSC before August 31
 (News posted on: 17 Aug, 2012)
Chandigarh, August 17: The Punjab Government has issued instructions to all the government employees and personal staff of Ministers, who had joined after January 1, 2004 to purchase NSC equal to the amount of DA. Disclosing this here today an official spokesman of Punjab Government said that these employees must purchase NSC from post offices located in Punjab and submit the photocopy of this NSC till August 31, 2012

LUBANA

  • Real Savvy
  • *****
  • Offline
  • Posts: 5123
  • Gender: Male
  • LUBANA
    • AOL Instant Messenger - -
    • Yahoo Instant Messenger - -
    • View Profile
Re: TAX SAVING PLANS
« Reply #5 on: August 17, 2012, 04:13:47 PM »
ਪੰਜਾਬ ਦੇ ਫੁਟਕਲ ਅਮਲੇ ਨੂੰ ਐਨ.ਐਸ.ਸੀ. 31 ਅਗਸਤ ਤੋਂ ਪਹਿਲਾਂ ਖਰੀਦਣ ਦੇ ਆਦੇਸ਼
 (News posted on: 17 Aug, 2012)

          

 ਚੰਡੀਗੜ੍ਹ, 17 ਅਗਸਤ (ਗਗਨਦੀਪ ਸੋਹਲ) : ਪੰਜਾਬ ਸਰਕਾਰ ਨੇ ਇਥੇ ਹੁਕਮ ਜਾਰੀ ਕਰਦਿਆਂ ਪਹਿਲੀ ਜਨਵਰੀ 2004 ਤੋਂ ਬਾਅਦ ਸਰਕਾਰੀ ਨੌਕਰੀ ਵਿੱਚ ਆਏ ਅਤੇ ਮੰਤਰੀ ਸਟਾਫ ਵਿੱਚ ਕੰਮ ਕਰ ਰਹੇ ਫੁਟਕਲ ਅਮਲੇ ਨੂੰ ਆਦੇਸ਼ ਦਿੱਤੇ ਹਨ ਕਿ ਮਹਿੰਗਾਈ ਭੱਤੇ ਦੀ ਕਿਸ਼ਤ ਦੀ ਰਾਸ਼ੀ ਦੇ ਬਰਾਬਰ ਐਨ.ਐਸ.ਸੀ. 31 ਅਗਸਤ 2012 ਤੋਂ ਪਹਿਲਾਂ ਖਰੀਦੇ ਜਾਣ।
 ਸਰਕਾਰੀ ਬੁਲਾਰੇ ਨੇ ਜਾਣਕਾਰੀ ਦਿੰਦਿਆਂ ਦੱਸਿਆ ਕਿ ਐਨ.ਐਸ.ਸੀ. ਖਰੀਦਣ ਸਬੰਧੀ ਪੰਜਾਬ ਸਿਵਲ ਸਕੱਤਰੇਤ ਦੇ ਸਮੂਹ ਸੰਯੁਕਤ ਸਕੱਤਰਾਂ, ਉਪ ਸਕੱਤਰਾਂ, ਅਧੀਨ ਸਕੱਤਰਾਂ, ਸੁਪਰਡੈਂਟ ਗਰੇਡ-1, ਵਿਸ਼ੇਸ਼ ਸਕੱਤਰ/ਮੰਤਰੀ, ਸਕੱਤਰ/ਮੰਤਰੀ, ਨਿੱਜੀ ਸਕੱਤਰ/ਮੰਤਰੀ, ਮੁੱਖ ਸੰਸਦੀ ਸਕੱਤਰ ਅਤੇ ਪ੍ਰਮੁੱਖ ਸਕੱਤਰ, ਨਿੱਜੀ ਸਹਾਇਕ/ਵਧੀਕ ਸਕੱਤਰ ਦੇ ਧਿਆਨ ਵਿੱਚ ਇਹ ਮਾਮਲਾ ਲਿਆਂਦਾ ਗਿਆ ਹੈ। ਸਰਕਾਰੀ ਬੁਲਾਰੇ ਨੇ ਦੱਸਿਆ ਕਿ ਪਹਿਲੀ ਜਨਵਰੀ 2004 ਤੋਂ ਬਾਅਦ ਸਰਕਾਰੀ ਨੌਕਰੀ ਵਿੱਚ ਆਏ ਅਤੇ ਮੰਤਰੀ ਸਟਾਫ ਵਿੱਚ ਕੰਮ ਕਰ ਰਹੇ ਫੁਟਕਲ ਅਮਲੇ (ਵਿਸ਼ੇਸ਼ ਸਹਾਇਕ, ਟੈਲੀਫੋਨ ਅਟੈਂਡੇਂਟ ਤੇ ਕੁੱਕ ਆਦਿ) ਦੇ ਜੀ.ਪੀ.ਐਫ. ਖਾਤੇ ਨਾ ਹੋਣ ਕਾਰਨ ਉਨ੍ਹਾਂ ਨੂੰ ਸਰਕਾਰ ਵੱਲੋਂ ਮਹਿੰਗਾਈ ਭੱਤੇ ਦੀ ਕਿਸ਼ਤ ਨਕਦ ਅਦਾ ਕਰ ਕੇ ਵਿੱਤ ਵਿਭਾਗ ਦੀਆਂ ਹਦਾਇਤਾਂ ਅਨੁਸਾਰ ਇਨ੍ਹਾਂ ਕਰਮਚਾਰੀਆਂ ਨੂੰ ਇਸ ਰਾਸ਼ੀ ਦੇ ਬਰਾਬਰ ਐਨ.ਐਸ.ਸੀ. ਖਰੀਦ ਕੇ ਦਿੱਤੇ ਜਾਣੇ ਹਨ।
 ਸਰਕਾਰੀ ਬੁਲਾਰੇ ਨੇ ਦੱਸਿਆ ਕਿ ਇਨ੍ਹਾਂ ਸਾਰੇ ਕਰਮਚਾਰੀਆਂ ਨੂੰ ਇਹ ਹਦਾਇਤ ਕੀਤੀ ਹੈ ਕਿ ਉਹ ਪੰਜਾਬ ਦੇ ਕਿਸੇ ਵੀ ਡਾਕਘਰ ਤੋਂ ਐਨ.ਐਸ.ਸੀ. ਖਰੀਦ ਕੇ ਉਸ ਦੀ ਫੋਟੋ ਕਾਪੀ ਨਿੱਜੀ ਤੌਰ 'ਤੇ ਪੰਜਾਬ ਸਿਵਲ ਸਕੱਤਰੇਤ ਦੀ ਪੰਜਵੀ ਮੰਜ਼ਿਲ 'ਤੇ ਕਮਰਾ ਨੰਬਰ 18 ਸਥਿਤ ਨਕਦੀ ਸ਼ਾਖਾ ਵਿਖੇ 31 ਅਗਸਤ 2012 ਤੱਕ ਪੇਸ਼ ਕਰਨ।

shripaul

  • Guest
Re: TAX SAVING PLANS
« Reply #6 on: August 17, 2012, 09:55:26 PM »
sir frm which year we hve to submit these copies & to whom to ddo or some one else and wht abt those emp who hvnnot purchase the nsc and only da nsc copies r required or 40 & 30 per arrear too.

RAJ

  • Guest
Re: TAX SAVING PLANS
« Reply #7 on: September 21, 2012, 06:43:26 PM »
Finance Minister approves Rajiv Gandhi Equity Savings Scheme (RGESS)



The Union Finance Minister Shri P. Chidambaram approved a new tax saving scheme called "Rajiv Gandhi Equity Saving Scheme"(RGESS),exclusively for the first time retail investors in Securities Market. This Scheme would give tax benefits to new investors who invest up to Rs. 50,000 and whose annual income is below Rs. 10 lakh.
The Scheme not only encourages the flow of savings and improves the depth of domestic capital markets, but also aims to promote an ‹“equity culture in India. This is also expected to widen the retail investor base in the Indian securities markets.
Salient features of the Scheme are as under:
click at Read more  »

RAJ

  • Guest
Re: TAX SAVING PLANS
« Reply #8 on: September 21, 2012, 06:46:07 PM »
Salient features of the Scheme are as under:

a. Scheme is open to new retail investors, identified on the basis of their PAN numbers. This includes those who have opened the Demat Account but have not made any transaction in equity and /or in derivatives till the date of notification of this Scheme and all those account holders other than the first account holder who wish to open a fresh account.

b. Those investors whose annual taxable income is ≤ Rs. 10 lakhs are eligible under the Scheme.

c. The maximum Investment permissible under the Scheme is Rs. 50,000 and the investor would get a 50% deduction of the amount invested from the taxable income for that year.

d. Under the Scheme, those stocks listed under the BSE 100 or CNX 100, or those of public sector undertakings which are Navratnas, Maharatnas and Miniratnas would be eligible. Follow-on Public Offers (FPOs) of the above companies would also be eligible under the Scheme. IPOs of PSUs, which are getting listed in the relevant financial year and whose annual turnover is not less than Rs. 4000 Crore for each of the immediate past three years, would also be eligible.

e. In addition, considering the requests from various stakeholders, Exchange Traded Funds (ETFs) and Mutual Funds (MFs) that have RGESS eligible securities as their underlying and are listed and traded in the stock exchanges and settled through a depository mechanism have also been brought under RGESS.

f. To benefit the small investors, the investments are allowed to be made in instalments in the year in which tax claims are made.

g. The total lock-in period for investments under the Scheme would be three years including an initial blanket lock-in period of one year, commencing from the date of last purchase of securities under RGESS.

h. After the first year, investors would be allowed to trade in the securities in furtherance of the goal of promoting an equity culture and as a provision to protect them from adverse market movements or stock specific risks as well as to give them avenues to realize profits.

i. Investors would, however, be required to maintain their level of investment during these two years at the amount for which they have claimed income tax benefit or at the value of the portfolio before initiating a sale transaction, whichever is less, for at least 270 days in a year. The calculation of 270 days includes those days pursuant to the day on which the market value of the residual shares /units has automatically touched the stipulated value after the date of debit.

j. The general principle under which trading is allowed is that whatever is the value of stocks / units sold by the investor from the RGESS portfolio, RGESS compliant securities of at least the same value are credited back into the account subsequently. However, the investor is allowed to take benefits of the appreciation of his RGESS portfolio, provided its value, as on the previous day of trading, remains above the investment for which they have claimed income tax benefit.

k. For the purpose of valuation of shares, the closing price as on the previous day of the date of trading will be considered so that new investors are certain about their debits and credits into the account.

l. In case the investor fails to meet the conditions stipulated, the tax benefit will be withdrawn.

Like all financial products which have reached out substantially to the retail investors (post office savings, life insurance policies etc) through tax benefits, this tax break for direct investment in equity is expected to substantially encourage the retail participation in securities market as well as to enhance their participation in the growth of Indian industry. Entry of more retail investors are expected to further deepen the securities markets as they bring in long-term stable funds, which can counteract the volatility created by the liquidity providers of the market. The Scheme, thus, also furthers the goal of financial stability and promotes financial inclusion. Since Exchange Traded Funds and Mutual Funds have also been brought under the Scheme, the Scheme should provide encouragement and re-assurance to the first time investors.

The broad provisions of the Scheme and the income tax benefits under it have already been incorporated as a new Section - 80CCG - of the Income Tax Act, 1961, as amended by the Finance Act, 2012.

Department of Revenue will notify the Scheme and SEBI will issue the relevant circulars to operationalize the Scheme in the next two weeks. 
Source : PIB Press Release
 
 

sumitmangla

  • Guest
Re: TAX SAVING PLANS
« Reply #9 on: September 24, 2012, 09:20:59 PM »
Welcome to the PLI family.  This guide has been designed for  your comfort. 
A Postal life  insurance policy is a long term relationship.   During this long period you will have number of interactions with  PLI.  A life insurance contract has  several features which need explanation.   While the Policy bond given to you covers the contractual issues, you  need a guide, written in simple language, that highlights some important facts  about your PLI Policy. 
(i).       Policy  Bond and its safety:
              The policy bond is the most  important document during the life of a policy.   This is a document which will be called for in connection with various  servicing events including the settlement of claims.  The  first thing you should do after receiving the bond is to keep the same in a  safe place and please do not forget to inform your near and dear ones about  where this bond has been kept.
(ii).     Policy  Number:
              Please look at the Policy Bond  again.  There is a 6 digit number called  Policy number.  This is a unique number  that identifies the policy. In any  correspondence related to servicing of the policy you have to quote this  number.  So we would advise you to  note down this number in your diary.   While paying premium through cheque, Policy number must be quoted on the  back of the cheque.
(iii).    Payment  of premium:
The premium payment is the most important and most frequent event in the  life time of a Policy and you must not forget to pay premium in time.  Failure  to pay premium in time results into lapsation of policy which means the life  cover will not be available to you.
              * There are concessions on this under certain conditions.  However, generally, the life risk is not  covered during lapsation period.  Also,  delay in payment of premium invites late fee.
The premium must be paid in advance on the first day of the each  month. However, grace period is allowed upto the last working day of the month.
Please note from the Policy Bond, the date of commencement of the policy,  due date and mode of payment of premium.   Mode of payment means the frequency i.e. yearly, half-yearly, quarterly,  monthly etc.  Based on these information, you can draw a chart of due dates for premium payment in your diary.  For example, if the date of commencement is  20 June, 2008 and mode is Qly, the due dates will be 1st June, 1st September, 1st  December, 1st March.
Please note these dates and the premium amount against the Policy number  in your diary.
You are a responsible person and surely you will not forget to pay your premia in time.  However, just to help  you remember this most important information, we shall be sending a premium  notice.  Please note that you need not wait for the notice as it is not  mandatory to produce the premium notice in the counter.  Primarily, it will be your responsibility  to remember to pay premium in time.
(iv)A. For  Payment of Premium through deduction from pay:
              Please check from time to time that your employer is regularly remitting  the premium deducted from your salary to PLI.   Any lapse or delay in remittance will be against your interest, as this  may result in loss of Insurance cover.   One should not miss the Insurance cover even for a brief period.  Please check your salary slip regularly to  ensure that the PLI premium has been deducted.
If your services are transferred, please find out from your new office,  the location of the PLI office where your PLI Premium will be sent.Please  inform the old PLI office that now onwards your premium will be remitted to xxx  office of PLI.  [ xxx is the new PLI  office].  This is important.
Your permanent address/e-mail id / mobile no helps us to contact  you, even when your services are frequently transferred.
(v)      How  and where to pay the premium:
              We all know that different individuals have different choices.  Some love to come to PLI/ nearest post office  and some others would not like to stand in a queue.  Keeping this in mind, we have tried to  provide facilities for all types of customers.
If you are one of those who would feel comfortable  to pay across the counter, let us inform you  that you can do so in any post office.
(vi)A. Transfer  of Policy
              Your policy can be transferred to any where in India on account of your job  transfer.
              The premium payment can be made in cash, local cheque or Demand  Draft.  One can send Demand  Draft/Cheque/Money Order also.
(vii)       Your  address:
              Next important thing to remember is that your address and telephone no.  is the most important information about you.  Our policy is to send the claim  cheque on or before the due date of maturity.  Often, despite our best efforts we fail to send a claim cheque  before the maturity date just because the policyholder has forgotten to inform  the change of address.  Would you please remember to inform the  post office about the change of address whenever that happens?  Please check up whether your address has been  correctly printed in the policy schedule.
(viii)      Nomination:
              We all know the ultimate purpose of buying a life insurance policy and it is extremely important that your policy  should have a nominee. We are sad to see at times unfortunate delay in  death claim settlement just because the nomination was not made.  As a responsible person you will surely  nominate someone, preferably a near and dear one from your family, if not  already done.  Please check up whether  your nominees name is appearing correctly in the policy schedule.  Nomination  can be done/changed at any point of time.   However, if you assign your Policy [say, to a bank, to get loan], the  nomination gets automatically cancelled.   On reassignment, ownership of the Policy comes back to you, but the old  nomination does not automatically get revived.   You have to, in such cases, nominate afresh.
The insurant is advised to  nominate the person to whom the claim amount shall be payable in the event of  his/her death. In the case of minor nominee, name and consert of the appointee  (guardian) who may receive the said amount of behalf the minor must be given.  In the event of the death of the nominee before the death of the insurant,  change in nomination must be registered with the office of Chief Postmaster  General (PLI).
(ix)    Lapsing  of Policy:
  The policy shall be treated as lapsed in case  you fail to pay the premium/premia that  has/have become due. Incase of policies of less than three years duration, if more than six premia are not paid, the policy lapses. In case of policies of more than three years duration, if more than twelve premia are not paid, the policy lapses.
(x)  Reinstatement  of Policy:
              We would like that in the unfortunate event of your policy lapsing, you  should immediately get the same reinstated. For automatic reinstatement of your  policy within a period not later than six months or a period not later than 12  months from the date the first unpaid premium had become due in respect of such  policies that have not completed 3 years, or in respect of such policies that  have already completed 3 years from the date of acceptance respectively, he/she  may deposit all the arrears of premium/premia till that date of such payment  along with interest thereon at the rates prescribed by Director General of  Posts in the specified Post Office. You should inform the Chief Postmaster General to  this effect through the said Post Office along with certificate of continued  good health in the prescribed proforma to be signed by you and a certificate  from your employer certifying that you had not taken any leave on medical  grounds during said period.
(xi)      Revival  of discontinued Policy:
              In the case of such policies which have lapsed and are time barred for  automatic reinstatement, you may apply for revival of policy to the  Chief Postmaster General before the policy has matured subject to payment of  all the arrears of premia with interest thereon and further subject to production  of a certificate from an authorised Medical Examiner certifying that the life  assured is insurable having regard to your health and habits and of evidence to  show that there has been no change in your personal or family history or your  occupation as also a certificate from your employer, if employed; certifying  that you had not taken any leave on medical grounds during the last one year,  or during the entire period of service or from the date the first unpaid  premium had become due whichever is the least. The policy shall not be treated  as revived unless the Chief Postmaster General has satisfied himself and has  permitted such revival in writing.
(xii)       Loan:
              Loan will be granted on the security of Endowment Assurance Policy if  the Policy has been in force for at least 3 years, and is otherwise unencumbered  and has acquired a minimum surrender value of Rs. 1000/- Subsequent loans are  also permissible subject to fulfilling conditions prescribed.
(xiii)      Insurance  on minor lives:
              If the life assured is a minor, important thing to remember is that  nomination should be effected on attaining majority (18 years). 
(xiv)    Enquiries:
              Enquiries can be specific to your policy or of a general nature.  Information of the general nature is available in any  Post Office.   They are also available on our website www.indiapost.gov.in.
We have Info centres in many  cities [list given] which operate from 8 a.m. to 8 p.m. Monday to Friday and  from 09.30 a.m. to 6.00 p.m. on Monday to Friday. 
(xv).  Grievances:
We shall be trying our best  to keep you satisfied but if unfortunately at any point of time you are unhappy  about our services you must let us know.   The best place again is the post office which services the policy.  You can contact them through telephone or  write to them or even visit them.   However, you can also use the internet by visiting www.indiapost.gov.in. / e-mail pli.dte@gmail.com where we have a  facility to register your complaints.   Wherever you are, if the complaint is registered through internet, the  same will be reaching the PLI office immediately.
(xvi)   Contact:
              We shall be happy to note your telephone number and email id as they  supplement your postal address, if you have no reservation about sharing the  same with us.  We would request you to  inform the same to the servicing post office so that they can take a note of  it.
              This will help in serving you better. 
(xvii)     Survival  Benfits:
              Please check your Policy schedule [1st page] to see whether periodic Claim payments are due to  you.  If so, please note down the due  dates.  In case you have not received the  payment by the due date,  get in touch with the Post Office.[/list]

 

GoogleTagged