FLAME Newsletter - July 10, 2013


“Tax laws in India are becoming more and more complex. India is a factory of income tax disputes. More than 50% of tax cases world over are from India” — TP Ostwal, Partner, TP Ostwal & Associates 


Income tax exemptions & deductions under various sections

The Indian Income Tax body grants several exemptions to individuals, using which one may be required to pay no tax, pay a reduced tax or as is applicable in most cases, reduce part of the income that is computable for tax calculations.

To encourage savings, the government gives tax breaks on certain financial products under Section 80C of the Income Tax Act. Investments made under such schemes are referred to as 80C investments... Read more 

Tax provisions for investment in mutual funds

Our investment decisions are guided not only by the benefits which a particular financial product offers, but also by the current tax provisions that the instrument is subject to.

Like any other financial product, there are tax implications of investing in mutual fund schemes too. Various types of mutual fund schemes are subject to different tax provisions. The tenure of investment is also an important factor when deciding upon one’s tax liability. Therefore, we must have a proper understanding of the relevant tax provisions, to help us plan our investments in a better manner... Read more

Avail tax deductions & exemptions on stock investments

Investing in equity not only helps you diversify your portfolio but also fetches high returns in the long term.

Investing in equity also offers various tax exemptions and deductions which you can avail of on your stock market investments. Listed below is a comprehensive picture of the deductions and exemptions that you are entitled to in various stock instruments, whether you invest directly or indirectly... Read more


Which investments are covered u/s 80C Income Tax?

Under Section 80C of the Income Tax Act, 1961, there is a total investment limit of Rs. 1 lakh to avail tax benefit. Please do remember that one or more items taken together the total investment amount should be a maximum of Rs. 1 lakh to entitle you to a deduction u/s 80C. The benefit of Rs. 1 lakh on tax saving instruments is available to everyone, irrespective of his or her income levels... Read more


What are catastrophe bonds?

Catastrophe bonds are risk-based securities that pay high interest rates and provide insurance companies with a form of reinsurance to pay losses from a catastrophe such as those caused by a major hurricane. They allow insurance risk to be sold to institutional investors in the form of bonds, thus spreading the risk.


IRDA cancels 15-bed rule for medical cover

Avg AUM of MFs rises 23% to Rs. 8.16 trillion for FY13: PWC

Uttarakhand floods: United India Ins receives 37 claims

Temple insurance gains significance in India


FLAME (Financial Literacy Agenda for Mass Empowerment) is an IIFL initiative to promote financial literacy amongst the masses in order to make them an integral part of India’s spectacular growth story.

In an era of accelerating GDP and rising per capita growth, financial literacy has become more critical than ever before such that we all reap the tangible benefits of the nation’s economic prosperity. Financial inclusion has been quite high on the governmental agenda, given its emphasis on widening the Banking & Financial services network across the country. IIFL’s FLAME initiative stands committed to complement this effort by helping common people gain financial growth and security though better awareness and education on the variety of financial products while avoiding the lure of and loss from unrealistic claims made by unscrupulous agents and ponzi schemes.

Our objective is to light a FLAME, as the name suggests, which will set ablaze a chain of FLAMEs across the country. The new-found light of knowledge will undoubtedly dispel the dark clouds of financial illiteracy and ensure the bright sunshine of financial growth and prosperity.

This portal is but one of the various IIFL initiatives that would be part of FLAME.

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