SUPREMOS. Tax biting? your Wallet. Index OUR SERVICES EDITOR S NOTE. Dear Investors, TO SAVE TAX CALL NOW. .in

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: MNW/311/2016-18 POSTED AT PATRIKA CHANNEL MUMBAI GPO, MUMBAI - 400001 POSTED ON 12TH & 13TH OF EVERY MONTH A Monthly Publica on from NAIK WEALTH

.. Dear Investors, EDITOR S NOTE Reducing tax liability without breaking any law is known as tax planning.

reduce your tax outgo. 1) Use all possible deduc ons available in tax law to reduce tax.

One can use most suitable op on for ones needs. 2) Planning & Inves ng to get tax free income.

One should properly plan to get such tax-free income. 3) Tax planning includes avoiding those investments which are taxable on maturity.

4) House property investment with housing loan takes jointly by Husband & wife is also good move towards tax planning.

5) Inves ng for educa on of children is sound ﬁnancial planning strategy but taking educa onal loan & inves ng money for further period is good tax

6) If you are in private employment, then restructuring your salary structure in such a way to get maximum tax saving is possible.

to reduce tax liability. 8) Those with highest tax slabs can gi amount to major son who is not yet earning.

1 REGISTERED - R.N.I. NO.: MAHENG/2016/67267 PUBLISHED ON 10TH OF EVERY MONTH POSTAL REGD. NO. : MNW/311/ POSTED AT PATRIKA CHANNEL MUMBAI GPO, MUMBAI POSTED ON 12TH & 13TH OF EVERY MONTH A Monthly Publica on from NAIK WEALTH Planners Private Limited Price 5 TM VOL. 2 ISSUE 3 PAGES 8 Mumbai, March, 2017 VISORY VESTMENT AD The World of IN Yes I want to grow my WEALTH... Dear Investors, EDITOR S NOTE Reducing tax liability without breaking any law is known as tax planning. Tax Avoidance as per provisions of tax law is not illegal tax planning should form part of overall ﬁnancial planning following are some easy ways to reduce your tax outgo. 1) Use all possible deduc ons available in tax law to reduce tax. One can use Sec on 80 C, 80 CCC,80 D, 80G deduc ons to minimize tax. There are many op ons available in tax saving investment in Sec on 80C. One can use most suitable op on for ones needs. 2) Planning & Inves ng to get tax free income. Dividend, Long Term, Capital Gains in shares & Mutual Funds, PPF interest, LIC Maturi es are some tax-free incomes. One should properly plan to get such tax-free income. 3) Tax planning includes avoiding those investments which are taxable on maturity. At present NPS, Single Premium policies are taxed when matured. Hence one should take such policies only keeping in mind future income. 4) House property investment with housing loan takes jointly by Husband & wife is also good move towards tax planning. It gives beneﬁt to both provided both are tax payers. 5) Inves ng for educa on of children is sound ﬁnancial planning strategy but taking educa onal loan & inves ng money for further period is good tax planning p. Interest an educa onal loan is allowed as deduc on for 8 years. 6) If you are in private employment, then restructuring your salary structure in such a way to get maximum tax saving is possible. 7) Self-employed persons should u lise tax saving means such as deprecia on on computers, laptops, car use of residence as oﬃce etc. to reduce tax liability. 8) Those with highest tax slabs can gi amount to major son who is not yet earning. This will reduce their tax liability but will not tax son due to basic exemp on. Gi s to daughters can also reduce tax & also create fund for her educa on & marriage. 9) Tax planning can also be done by selling loss making shares within one years & se ng oﬀ loss against short term taxable capital gains. Share sold can be re bought a er few days. It can be seen that everyone should try to legi mately reduce his tax liability. But one should note resort to illegal means. Every money paid as tax actually builds na on & hence paying reasonable tax should be one's na onal duty.... Happy Returns! SANJEEV GOKHALE Guest Editor editor@naikwealth IS Tax biting? Index 6 Steps to E-ﬁling your Tax Returns 2 Cut Tax for be er returns 3 Don t lose money to Tax 4 How interest is Taxed 5 Your Age, Income & Tax Rate 6 Common tax Mistakes 8 OUR SERVICES KIDS EDUCATION RETIREMENT PLANNING MUTUAL FUND ADVISORY INSURANCE PLANNING your Wallet TO SAVE TAX CALL NOW

02 RY STMENT ADVISO The World of INVE Step 1 : Register Yourself To e-ﬁle your income tax return, you will have you register on the Income Tax Department s online tax ﬁling site

Step 2 : Choose how you want to E-File e Step 3 : Select the Requisite Form ITR-1 : For individuals earning a salary, pension, or income from property or sources other than lo ery.

There are two ways of e-ﬁling your income tax return.

Or you can choose to ﬁll the form online by selec ng the quick e-ﬁll op on Step 4 : Keep the documents ready Keep your PAN, Form 16, interest statements, TDS cer ﬁcates, details of

You can then validate your tax return with Form 26AS to check you tax liability.

Then go to the website again and click on the upload XML bu on. You will have to ﬁrst log in to upload the XML ﬁle saved on desk-top and click on submit.

Assets have to be declared at cost. Step 6 : Verify ITR V On submi ng your ITR form, an acknowledgment number is generated.

2 02 RY STMENT ADVISO The World of INVE Step 1 : Register Yourself To e-ﬁle your income tax return, you will have you register on the Income Tax Department s online tax ﬁling site (incometaxindiaeﬁling.gov) You have to provide your permanent account number, name and date of birth and choose a password. Your PAN will be your user ID. Step 2 : Choose how you want to E-File e Step 3 : Select the Requisite Form ITR-1 : For individuals earning a salary, pension, or income from property or sources other than lo ery. ITR-2 : For those earning capital gains. ITR 2A for those owning more than one house but no capital gains. ITR 3,4 and 4S : Professionals and business owners. There are two ways of e-ﬁling your income tax return. One is to go to the download sec on and select the requisite form, save it on your desktop and ﬁll all the details oﬄine and then upload it back on the site. Or you can choose to ﬁll the form online by selec ng the quick e-ﬁll op on Step 4 : Keep the documents ready Keep your PAN, Form 16, interest statements, TDS cer ﬁcates, details of investments, insurance and home loans handy. Download Form 26AS, which summarizes tax paid against your PAN. You can then validate your tax return with Form 26AS to check you tax liability. If you Step 5 : Fill form and upload If you choose to ﬁll the from oﬄine, a er you have downloaded the form and ﬁlled all the details, click on generate XML. Then go to the website again and click on the upload XML bu on. You will have to ﬁrst log in to upload the XML ﬁle saved on desk-top and click on submit. earn more than 50 lakh, from this year you will have to ﬁll an addi onal column - AL or assets and liabili es. You will have to disclose the value of your assets and liabili es. Assets have to be declared at cost. Step 6 : Verify ITR V On submi ng your ITR form, an acknowledgment number is generated. In case the return is submi ed using digital signature, you just have to preserve this number. If the return is submi ed without a digital signature, an ITR-V is generated and is sent to your registered ID. The tax ﬁling process is incomplete and ITR is invalid unless your ITR V is veriﬁed. You can electronically verify or mail the signed ITR V to the processing centre in Bengaluru within 120 days of ﬁling the return. Source : ET Wealth E-veriﬁca on can be done using an Electronic Veriﬁca on Code(EVC). This 10 digit code can be generated through an e-ﬁling portal. The code is sent to the registered mobile number and . the other op ons of e-verifying are net banking, Aadhaar-based OTP or the newly-added bank account-based valida on.

22,500 22,500 15,760 NET gain 15,780 6,740 INTEREST tax AT 30% 6,750 IndexATION BENEFIT* TAX ON NET CAPITAL GAIN AT 20% NET CASH

3 The World of ORY INVESTMENT ADVIS 03 S N R U T E R R E T T E B R O F X A CUT T deposits. ient alternative to bank xed Debt fund are a tax-ef c FIXED DEPOSITS DEBT FUNDS Investment 1,00,000 1,00,000 3 years return* 22,500 22,500 15,760 NET gain 15,780 6,740 INTEREST tax AT 30% 6,750 IndexATION BENEFIT* TAX ON NET CAPITAL GAIN AT 20% NET CASH IN HAND AFTER 3 YEARS 1,15,750 **People in high tax bracket can increase their post-tax return by shi ing from FD to debt funds. 1,348 1,21,152 ASSUMPTIONS RETURNS 7% INFLATION 5%

04 RY STMENT ADVISO The World of INVE DON T LOSE MON EY TO TAX X PENALTY FOR LATE TAX PAYMENT If income tax return is furnished a er due date

s health cover, but failed to men on it in the return, you will lose: If you bought 1lakh worth of units in an equity mutual fund, and sold it

4 04 RY STMENT ADVISO The World of INVE DON T LOSE MON EY TO TAX X PENALTY FOR LATE TAX PAYMENT If income tax return is furnished a er due date but on or before 31st Dec of assessment year,... the ﬁne is 5,000 other cases the ﬁne is 10,000. In case total income does not exceed Rs. 5 Lakh, the ﬁne shall not exceed 1,000. DON T MISS OUT ON DEDUCTIONS TAX ON SHORT - TERM CAPITAL GAIN If your taxable income is 8 lakh and you paid a premium of 25,000 for your family s health cover, but failed to men on it in the return, you will lose: If you bought 1lakh worth of units in an equity mutual fund, and sold it within a year a er it grew to 1.25 lakh, you will be taxed at: INCOME TAX BRACKET 5% 20% 30% ,000 7,500 To win a Coffee Mug Call US on 15 % This will result in a tax outgo of 3,750. No tax if you had sold it a er a year. Play a 10 Sec. Rapid Fire

The World of ORY INVESTMENT ADVIS 05 H OW I N T E R EST While the tax treatment diﬀers the interest income from all these sources needs to be reported in

I S TA X E D TAXABILITY OF INTEREST TDS PPF Tax - Free Tax-Free Bonds Tax - Free NSCs No TDS Deducted Post Oﬃce Term Deposit No TDS Deducted Infrastructure

5 The World of ORY INVESTMENT ADVIS 05 H OW I N T E R EST While the tax treatment diﬀers the interest income from all these sources needs to be reported in your return. I S TA X E D TAXABILITY OF INTEREST TDS PPF Tax - Free Tax-Free Bonds Tax - Free NSCs No TDS Deducted Post Oﬃce Term Deposit No TDS Deducted Infrastructure Bonds Senior Ci zens Saving Scheme Fixed Deposits Recurring Deposits 10% TDS on income... if the interest exceeds... 10,000 in a year. Investor needs to pay more tax if he falls in higher tax... bracket. Kisan Vikas Patra No TDS Deducted Tax-Free up To 10,000 a Year No TDS Deducted Savings Bank Account

Lakh 5-10 Lakh 20% Above 10 Lakh Above 10

income tax, where total taxable income is

6 06 Your Age General & Tax Rate Income Senior ci zens (60-80 years) RY STMENT ADVISO The World of INVE Very senior Ci zens (Above 80 years) Tax Rate Up to 2.5lakh Up to 3 lakh Up to 5 Lakh Nil Lakh 3-5 Lakh NA 5% 5-10 Lakh 5-10 Lakh 5-10 Lakh 20% Above 10 Lakh Above 10 Lakh Above 10 Lakh 30% Surcharge : 10% of income tax, where total taxable income is more than 1 crore, educa on cess of 3% of total income tax and surcharge, tax rebate of 2,000 for every person who has income of lakh.

7 The World of ORY INVESTMENT ADVIS 07

08 I COMMON RY STMENT ADVISO The World of INVE TAX MISTAKES WHAT TAXPAYERS THINK 29% 30% 31% Think that interest of up to 10,000 from bank FDs is tax free in a year Believe interest earned on tax-

WHAT THEY ARE WRONG Interest on savings bank accounts is tax-free under Sec 810TTA. FD and RD interest is fully taxable. The interest is fully taxable.

8 08 I COMMON RY STMENT ADVISO The World of INVE TAX MISTAKES WHAT TAXPAYERS THINK 29% 30% 31% Think that interest of up to 10,000 from bank FDs is tax free in a year Believe interest earned on tax- saving infrastructure bonds is not taxable. Say no tax payable if they invest in FD or RD on behalf of wife or child. WHAT THEY ARE WRONG Interest on savings bank accounts is tax-free under Sec 810TTA. FD and RD interest is fully taxable. The interest is fully taxable. 45% of the 637 respondents who got this wrong are in highest tax bracket. Income has to be clubbed with own and taxed accordingly. Over 30% who got this wrong are in highest bracket. Note : The online Survey was conducted on 4-5 August 2015 and had 2,158 respondents. CORPORATE OFFICE Naikwealth Planners Pvt. Ltd. "D Deﬁnity" th Floor, Oﬀ Jay Prakash Road No.1, Goregaon (East), Mumbai Tel : (022) info@naikwealth care@naikwealth OTHER BRANCHES GOREGAON MALAD KANDIVALI THANE Naikwealth Planners Pvt. Ltd. 5, Jyotsna Prakash, Opp. Railway Sta on, Goregaon (East), Mumbai Tel : (022) Naikwealth Planners Pvt. Ltd. 15, C-Wing, Sadguru Darshan,Liberty Garden, Malad (West), Mumbai Tel : (022) / Naikwealth Planners Pvt. Ltd. 25, Aangan, 120 Feet Road, Thakur Village, Kandivali (East), Mumbai Tel : (022) / Naikwealth Planners Pvt. Ltd. Shop no.14, Ground Floor, A Wing, Raj Darshan, Dada Pa l Wadi, Opp. Pla orm no.1, Thane (West) Tel : (022) DISCLAIMER: All reasonable care has been taken to ensure that the informa on contained herein is neither misleading nor untrue at the me of publica on, but we make no representa on as to its accuracy or completeness. All informa on is provided without any liability whatsoever on the part of NAIK WEALTH PLANNERS PRIVATE LIMITED. The inclusion of adver sing, logos or Web site links in this issue does not cons tute an endorsement by NAIKWEALTH PLANNERS PVT. LTD. All copyright reserved to their owners. Images and text owned by other copyright holders are used here as per their guidelines. RISK FACTORS: Mutual funds, like securi es investments, are subject to market and other risks and there can be no assurance that the scheme's objec ves will be achieved. As with any investments in securi es, the NAVof units can go up or down depending on the factors and forces aﬀec ng capital markets. Please read the oﬀer document before inves ng. Published and Printed by NIKHIL ASHOK NAIK, on behalf of NAIK WEALTH PLANNERS PRIVATE LIMITED. Printed at SOMANI PRINTING PRESS, Gala No. 3-4, Amin Ind Estate, Sonawala Cross Road No-2,Goregaon East, Mumbai and Published at 707/708, D Deﬁnity Bldg, Jay Prakash Rd No. 1, ABV. Cosmos Bank, Goregaon - East, Mumbai Editor : Nikhil Ashok Naik. Tel : Mob : ID : naikwealth@gmail.com. REGISTERED - R.N.I. NO.: MAHENG/2016/67267 POSTAL REGD. NO. :MNW/311/ POSTED AT PATRIKA CHANNEL MUMBAI GPO, MUMBAI POSTED ON 12TH & 13TH OF EVERY MONTH PUBLISHED ON 10TH OF EVERY MONTH

SUPREMOS SIP:SMALL IS POWERFUL START AN SIP SMALL MONEY = BIG MONEY OUR SERVICES ~ 1 CR 24 LAKHS. SMS MONEY to EDITOR S NOTE

SUPREMOS SIP:SMALL IS POWERFUL START AN SIP SMALL MONEY = BIG MONEY OUR SERVICES ~ 1 CR 24 LAKHS. SMS MONEY to EDITOR S NOTE REGISTERED - R.N.I. NO.: MAHENG/2016/67267 POSTAL REGD. NO. :MNW/311/2016-18 POSTED AT PATRIKA CHANNEL MUMBAI GPO, MUMBAI - 400001 A Monthly Publica on from NAIK WEALTH Planners Private Limited Price 5