Thursday, May 16, 2013

How to Change Address or Name in Your Aadhaar Card



In order to make changes you need to visit Aadhaar Self Service Update Portal, Login with your Aadhaar number, submit your request and upload documents


Step by step process
2. Data update Request
3. Upload documents


You can request for change in aadhaar card details maximum of four times till march 2014

How to check your Aadhaar status in your mobile - Android application



C. G. Technosoft Pvt. Ltd come up with official application to check your Aadhaar Card linking Status with Banks and LPG supply companies

Link of official application to check your aadhaar card status



Source:

How can i change my address in my pan card?


Query of Blog Reader

I have changed my residence since PAN card was obtained originally. How to and where change can be done in the records of PAN issuing authorities? - Dr Mrs Krishna Gupta





In order to make changes in address details in Pan Card you need to submit "Request for Change or Correction in Pan Data Form."

Form
Request for New PAN Card or / and Changes or Correction in PAN Data Form
Pan change Form
Pan change Form

Do's and Don't points
 Refer Do's and Don't for making application for a new PAN card / corrections
Important instructions and guidelines : PAN CR  

Fees
Fee for processing PAN application:  Rs. 96 (Rs. 85 + service tax) for PAN card to be dispatched in India. 



Where to submit
 Refer this  
http://www.myutiitsl.com//intra/web/search_psa.jsp
https://www.tin-nsdl.com/bank-center.php
 https://www.tin-nsdl.com/pan.php


  

Online request for change in address
IF want to follow process online then visit here https://tin.tin.nsdl.com/pan/changerequest.html 






Wednesday, May 8, 2013

What is the Tax treatment for an NRI investor - investing in mutual funds in India



The tax treatment for NRI investors with respect to Mutual Fund investments is the same that is applicable for Resident Investors except that applicable tax would be deducted at source for NRIs. 


How is TDS calculated for NRI Investments?


















 In case of a domestic company surcharge of @ 5% shall be levied if the total income exceeds Rs. 1 Crore subject to marginal relief.
*The short term/long term capital gain tax will be deducted at the time of redemption of units in case of NRI investors only.
** Securities transaction tax (STT) will be deducted on equity funds at the time of redemption and switch to the other schemes.
Mutual Fund would also pay securities transaction tax wherever applicable on the securities bought / sold ^ Assuming the investor falls into highest tax bracket.





 

Monday, May 6, 2013

Whether my sip will stop if i redeem units in between??

Query of Blog Reader: Redemption in between ongoing sip



I have ongoing sip in XXXX mutual fund, i want to redeem all units, whether this will affect my sip? Whether this results in stop of my sip?


If I redeem the amount in between, will the SIP stop with immediate effect or it will continue till the specified period mentioned?


Reply:

No, it will affect your sip, unless along with redemption, you also request for cancellation of sip.

Redemption of the amount during the SIP period will not affect your ongoing SIP.

 SIP will continue unless the investor specifically requests for cancellation of SIP.

SIP  will continue till the specified period mentioned at the time of  registration of sip.
 

 

What to follow for Smooth Processing of Redemption Requests in mutual funds in India?



Redemption means the process of  selling your mutual fund units. In order to make the process smooth you need to cross check all the details before giving request for Redemption. 

Now what things need to be cross checked, here is the list:



1. Fill all the details correctly in  common transaction Slip

1. Use Transaction slip (which is attached with your mutual fund account statement or if you don't have transaction slip, download from mutual fund website). 
*Common Transaction slips link is available in this post*
 
The transaction slip contains following

1. Name of Investor
2. Folio Number
3. Complete Scheme details
4. Number of units/amount you want to redeem
5. Signature of all unit holders



 The Investor needs to fill in the redemption application available on the foot of your account statement, which needs to be signed by all the account holders in case the mode of holding is "joint". In case the mode of holding is "any one or survivor", the application can be duly signed by any one of the account holders. The duly filled in application form is to be sent to the nearest Investor Service Center. The units shall be redeemed to you at the redemption price applicable for the transaction date on which your application was received at the Investor Service Center. In case your application is received after the cut-off time, the applicable transaction date would be the next business day.  



 2. Verify your Bank details and mode of payment  
(Apply for ECS/direct credit)

Before giving redemption request, the most important thing to check is your bank account details, you should first check whether your bank account status is dormant or active, if bank account is in dormant state, first thing is to do is to activate your dormant bank account and then put redemption request. Second thing, bank account details are correctly added in account statement,  if you find any discrepancy in your bank details (don't give redemption request), until the bank details are corrected in mutual fund records.


If Bank details are correctly added, but mode of payout is by cheque change the option to direct credit or ECS mode as this makes process little faster.To get redemption proceeds in your bank account you need to fill NEFT Enrolment Form

You can refer this

Verify all the details which you filled in NEFT Form

 Common Transaction slip for redemption
1. Redemption Slip - Cams
2. For Karvy  (here you can generate Transaction slip on-line)
3. For Sundaram Mutual Fund

 

"Download & handover the duly filled form to your nearest branch".





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