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Birla Sun Life Mutual Fund Celebrates 15th Anniversary

Jan 12, 2010 Business Loan

Birla Sun Life Mutual Fund (BSLMF) one of the leading Mutual Fund houses in India, is celebrating completion of 15 years of wealth creation. Since its inception, the fund house has offered funds to its investors that have created wealth for them consistently and has registered impressive growth in terms of business (asset under management).

Established in 1994, Birla Sun Life Asset Management Company (BSLAMC) is a joint venture between Aditya Birla Group, a well known and trusted name globally amongst Indian conglomerates and Sun Life Financial Inc, leading international financial services organization from Canada.

BSLAMC is amongst the top 5 asset management companies in India with an average asset under management of Rs 68,066 crores as on December 31, 2009. An impressive mix of reach through 106 branches, full range of product offerings across equity, debt, balanced & structured asset classes and strong investment performance has helped the Company enjoy trust of over 2.3 Million investors. Known for its consistent performance, BSLAMC has received recognition from various institutes of international repute like the CRISIL, Asian investor Magazine, The Asset Magazine ICRA and Lipper. It is the only fund house in India to have won the coveted “Mutual Fund House of the Year” from CNBC TV 18 Crisil twice in a row.

Aditya Birla Financial Services Group is a broad based and integrated player in the financial services space with a strong presence across verticals viz., life insurance, asset management, retail broking, distribution and wealth management, NBFC, insurance broking & advisory services and private equity. ABFSG is rapidly growing in line with its vision to be a leader and role model in the Indian financial services sector.

The seven companies representing Aditya Birla Financial Services Group are Birla Sun Life Asset Management Company, Birla Sun Life Insurance Company, Birla Global Finance Company, Aditya Birla Money (erstwhile Apollo Sindhoori Capital Investments), Birla Sun Life Distribution Company, Birla Insurance Advisory & Broking Services and Aditya Birla Capital Advisors.

The consolidated revenues from these businesses crossed USD 1 billion mark in 2008-09. Today ABFSG collectively enjoys trust of over 4 million customers, manages assets over USD 16 billion and prides itself for having a talent pool of over 15,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through over 1500 branches and over 2 lacs channel partners.

ABFSG is a part of Aditya Birla Nuvo Limited (ABNL), a USD 3 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. Aditya Birla Group is a USD 29 billion Indian business house operating in 25 countries across the globe of which ABNL is a subset of.

Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services. As of March 31, 2009, the Sun Life Financial group of companies had total assets under management of $375 billion globally. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide.

Birla Sun Life Asset Management Company today offers a wide range of products to suit the wealth and income creation needs of investors across asset classes including Portfolio Management Services, Offshore Fund and Real Estate Fund. The average AUM of the fund house as of 31st December was Rs 68,066 crores making it the fifth largest fund house in India, while the number of investor folios today stands at over 23 Lakh.

In a celebratory event for marking the completion of the 15 years, some of the first set of investors who are associated with BSLMF even today, were felicitated by Mr. Kumar Mangalam Birla, Chairman - Aditya Birla Group. These investors have realized multifold gains from their investments, underlining the need of having a long term horizon in case of equity investments.

The fund house has focused on investor needs and launched innovative products in order to provide investment solutions to its investors on an ongoing basis. BSLMF was the first to introduce Birla Cash Plus as a Quasi Money market fund. When stock markets were volatile and investor sentiment weak in the year 2002, the fund house identified the opportunity to invest in high dividend yield companies through Birla Dividend Yield Plus. Birla Sun Life Tax Relief ‘96 has secured the 1st rank based on thirteen-year annualized return of 35.33% in Indian Rupee as of 30th September 2009. Further, Birla Sun Life Tax Relief ‘96″ (BSLTR’96″), has been adjudged “the World’s Best-Performing Equity Fund”, according to Lipper global data.

Mr. A. Balasubramanian, CEO-BSLMF said, “We have entered into the 15th year of our foundation amidst challenging environment as we move closer to the leadership position in the industry, following strong business growth. We are celebrating the occasion with solemn commitment of continuing to focus on the needs of our investors and serve them better.” “Over a decade and half of experience over various market cycles has helped us formulate time tested processes to help us deliver consistent investment performance for our investors”, said Mr. Balasubramanian thus concluding the event.

Learn more about Birla Sunlife MF’s 15 years of Wealth Creation. Visit Birla Sunlife Mutual Fund site where you can find out all about their achievements.

Tags: birla sunlife 15 years of wealth creation, birla sunlife mutual fund, Business Loan, Equity, Finance, Invest, Mutual Fund, share, stock, Tax, wealth

Are You Entitled To A Tax Refund?

Oct 16, 2009 Business Loan

Something we are all used to in this country is the concept of paying tax. We have to pay tax on the vast majority of purchases we make in our lifetime as well as every pay packet we receive. It is what fuels the economy and allows the government to distribute funds where and when needed.

So tax is what makes our economy and more or less the whole capitalist system work by giving the government a slice of the profit from every transaction made in a store and every persons wage packet.

However, it is for these reasons that we all despise tax! Yes it allows our country to be run in a way that benefits everyone and yes, if nobody paid any tax then the chances are anarchy would break out, but even so, our money is being taken from us, so aren’t we entitled to at least have a little moan about it?

If however you are a visitor to the UK (or a select few other EU countries) and are a resident of a country outside the EU then there is a scheme in places in certain shops that allows you to claim back any tax that you pay on your purchases!

There are 5 steps you should take in order for you to claim back your tax, and they are:

1. Each shop that is part of the tax-free shopping scheme will have a sticker indicating so in the window, look out for this sticker and shop in these stores.

2. Check the minimum purchase amount in order to qualify for a tax refund (this can vary from shop to shop)

3. Once you’ve bought your items (ensuring that collectively they are worth over the minimum amount to qualify) and then request and fill in the tax refund cheque form.

4. When you show customs your passport on your way out of the country, show them your completed tax refund cheque form.

5. There will be a tax refund office nearby in the airport, or if you are in a hurry, you can send your tax refund form off to the tax refund company via post and the full amount of tax you paid on your qualifying purchases will given to you in the form of a cheque or credited to your credit card.

For more information on TFS visit gbtaxfree.com by clicking on UK tax free

Tags: Advice, Business Loan, Finance, legal, London, misc, services, Shopping, Tax, tax free, Taxes, tourism, tourist, travel, uk

Truth About Tax Credit For Hybrid Car

Aug 10, 2009 Auto Loan

Today, there is a growing number of fuel-saving hybrid cars being sold in the market. Because of this, the government is therefore obligated to apply taxes. For those interested in buying hybrid cars though, there is good news. The Internal Revenue Service has already qualified a number of hybrid car brands for tax credit. For purchasers, this might actually be a good idea. The government’s proposal of this tax credit for hybrid car goods is possibly one of the best incentives yet.

What It Is

If you purchased a hybrid car on or after January 1, 2006, your purchase may be eligible for a tax credit that can amount to $400 to $3,400. The amounts vary depending on how the fuel economy goes. Conversely, the tax credit may only be temporary because it also relies on whether new hybrid cars and other cars are in demand. This suggests that tax credits could last just a short period of time whenever manufacturers arrive at a certain mark in their car sales. Apparently, hybrid car brands that aren’t as popular will not be greatly affected if the number of sales does not increase too quickly.

Models That Are Qualified

The IRS came up with a list of all qualified hybrid cars that can be eligible for tax credit. This includes cars that were sold after January 1 2006 and the list even includes cars that are due out in 2008. Here is a tax credit for hybrid car list for 2007 hybrid cars and their respective tax credit amounts:

2007 Chevrolet Silverado (2WD): $250.00 2007 Chevrolet Silverado (4WD): $650.00 2007 Ford Escape 4 WD Hybrid: $1,950 2007 Ford Escape Front WD Hybrid: $2,600 2007 GMC Sierra (2WD): $250.00 2007 GMC Sierra (4WD): $650.00 2007 Honda Accord Hybrid AT: $1,300 2007 Honda Accord Hybrid Navi AT: $1,300 2007 Honda Civic GX compressed natural gas vehicle: $4,000 2007 Honda Civic Hybrid CVT: $2,100 2007 Lexus GS 450h: $1,550 2007 Lexus RX 400h 2WD and 4WD: $2,200 2007 Mercury Mariner 4 WD Hybrid: $1,950 2007 Nissan Altima Hybrid: $2,350 2007 Saturn Aura Green Line: $1,300 2007 Saturn Vue Green Line: $650 2007 Toyota Camry Hybrid: $2,600 2007 Toyota Highlander Hybrid 2WD and 4WD: $2,600 2007 Toyota Prius: $3,150.

Only The New

Of course, this tax credit does not apply to all hybrid cars. There are limits. One of these limits includes that the hybrid car you purchase must be brand new. This means that used hybrid cars are not qualified for tax credits. Hybrid cars must also only be purchased for personal or business use and not for resale.

The tax credit for hybrid car products will reduce your income tax liability. It is also a non-refundable tax credit and any excess cannot be carried over to the next year. But what does all this mumbo jumbo mean? The tax credit basically means that you can save money not only on from spending less on gas but you can save through tax breaks. The IRS and the government is basically trying to promote the use of more energy efficient and eco-friendly cars by allowing tax breaks for those who purchase new hybrid vehicles.

Tags: Auto Loan, Automobile, Autos, car, Cars, hybrid car tax credit, Hybrid Cars, Hybrid Vehicles, Tax, Tax Credit, tax credit for hybrid cars, technology

Be Frugal and Save Big

Aug 8, 2009 Business Loan

Not many frugal living methods work as well as the ones I’m listing out below. If you do learn something new and are able to save by following the advice, remember to come back and let us know.

Airflow helps much more than air condition. It’s tempting to just turn on a/c but if you open the windows on both sides of the room, the temperature cools right down.

There are many free magazines around the web so you really don’t need to pay for most of them. Just search the web for free magazine offers and they will probably give you a complimentary one year subscription.

Cell phones are so good now that you don’t really need a land line anymore. Some people say they need it for their fax machine but unless you always fax documents, going to fax services outside is much cheaper than maintaining an extra line.

Ebay is a great place to sell your junk but the listing fees are really expensive. If you wait until they have promotions, you can list your items for free without fear that the listing fees will eat up your profit.

Coupons are everywhere and you are crazy not to look before you buy online. Some give free shipping, some give bonuses and some even give deep discounts.

Those free printers can never be sold because there are so many free printer offers out there. If you want to save some money, keep them and just plug in a new one every time you run out of ink.

If you save all the shipping boxes every time you buy something online, I bet you will save a boatload of money since you don’t have to buy boxes when you need to sell the item again later.

Buying forever stamps at Costco in bulk will actually save you some money. It may not be the most efficient but it will save money for sure.

I used to go to garage sales and just repaint whatever I buy to make them look great. After I do that, I can either sell it or use it because it gives me tons of saving.

Do your laundry when there’s a big load because it will cost you less money, not to mention less time as well. With less trips, you will waste less water, use less detergent and gain much needed time.

Tags: being frugal, Business Loan, economy, Finance, frugal living, Frugality, money, personal finance, Recession, save cash, save money, saving, spend less, Tax

Money is Easily Saved If You Live Frugally

Jul 18, 2009 Business Loan

There are so many tried and true ways to be frugal but few are as timeless as these below. If you want to save some money, read on to see if you can learn a thing or two.

Open the windows so there’s airflow. You don’t need air conditioning all the time and chances are, it’s actually cooler if you open the windows. The fresh air is also nice too.

Free reading is everywhere. Even if you must have a magazine in your hands, there are many free ones for almost every industry. Usually, they give you a one year subscription at no cost and some will even let you renew for free.

Cancel your land line because you don’t need it. Cell phone work just as well these days and unless you fax multiple times a day, staples or kinkos will do the trick for fractions of the cost.

Did you know that there are promotions from ebay that let you list items for free? You can save so much money off your listing cost which only improves your ROI.

Find promo codes and coupons around the web before you shop because they are so much cheaper with discount and sales. Best of all, retailers actually want you to take advantage.

Every company seems to want to give away printers these days because they know that it’s the ink that really will cost you a ton of money. Whenever you get a free printer, don’t sell it. Just hook it up when you run out of ink.

Save those shipping boxes when you order online. While most people will throw them away, you can really save money if you save them so you don’t have to buy them when you resell the item.

Costco sells forever stamps at about a 10% discount than everywhere else. You are already saving on inflation, why not buy in bulk and save some more?

Go to garage sales and see if you can find something that you can reuse. Someone else’s trash could become your treasure. I know someone who regularly does this and her house is beautiful.

Washing machines are loud but they also use up a ton of energy. To save and waste less, just group your clothes together and do a bigger load instead. You will probably find that you can save some time as well.

Tags: being frugal, Business Loan, economy, Finance, frugal living, Frugality, money, personal finance, Recession, save cash, save money, saving, spend less, Tax

CFDs and Tax

Jul 16, 2009 Business Loan

Being a relatively new trading instrument there was no taxation ruling on CFDs when they arrived in Australia in 2002. Applying existing legislation to Contracts for Difference made them tax free as the closest link was to gambling. Some might assume that CFDs and gambling are closely related the Australian Tax Office did not agree. They fast tracked legislation that addressed tax on CFDs.

Always Consult a Tax Advisor

There is no substitute for professional advice from your tax advisor or accountant as your tax situation is different from any other person. The outline here is intended to give you an understanding of the basics of the legislation for tax on CFDs in Australia. Get expert advice for your specific situation.

CFD Profit is Treated as Income

Net profit or loss is considered as taxable income. Simply add up your profits and subtract your losses to get your taxable income. So any net gain made adds to taxable income while losses reduce taxable income.

Deduct Your CFD Related Expenses

Claiming all expenses associated with your CFD business is perfectly acceptable. Make sure you take into account interest charges and brokerage, but also include charges like trading platform costs and internet access in your deductions.

CFDs and Capital Gains

Most CFD traders will not hold positions for longer than 12 months, but even if they did the Capital Gains discount does not apply. CFD profit is treated as income not a capital gain. In a similar way trading for franking credits with CFDs is not possible as CFDs do not receive franking credits.

Tax Considerations If You Are Not In Australia

Every country will have different tax legislation and it is not possible to offer advice to everyone. A few things to keep in mind for New Zealand residents the IRD may consider you to be a trader and this could impact on the tax on your share investments. To avoid any trouble keep them separate in a different entity. And back to the UK spread betting does not attract tax. It is however not a free ride as the spreads are usually wider than with CFDs.

Final Word On CFDs and Tax

As with any investment it is important to know your tax obligations, though these are not the first priority. Remember losing $1 to save 30 cents is a stupid investment decision.

Tags: A, b, Business Loan, business;finance, c, cfd tax, cfd taxation, cfds, Contracts For Difference, contracts for difference tax, F, Finance, i, o, r, t, Tax, tax on cfds, Taxes, trading cfds

Used Car Donation - Where Do You Begin?

Jun 14, 2009 Auto Loan

So you’re thinking about getting rid of your unused car, and are unsure about what to do? Luckily the options involved with car donation in Maryland are many. You will have no troubles. Before you go donating though, here are some things you might want to think about first.

What condition is the vehicle in? Charity groups don’t need decrepit or unsafe vehicles as these will be of no use to the people they help. Only fairly reliable cars in reasonable condition will be of any value. Don’t donate cars that require lots of repairs or extensive maintenance.

Out of all the people that need it, who need it the most, and why should I care? Well, the answer to that question is very easy. If you have a car sitting there unused then its taking up space that you could use for other things. As far as who needs it, compile a list of everyone you think who could use it then come back, go ahead we will wait.

Finally the most important question. Who should I give it to? You’ve compiled your lists of charities that need a car from churches, to community outreach programs. But in the end you only have one car, and you can only give it to one charity organizations regardless of how much they all need one. If you want to make an impact internationally, then give it to the Red Cross, or someone fighting world issues.

If none of these options holds your attention, you could always ask family members.

Not all groups expect you to give freely. Some of them have set up programs that will give you cash for your donation of a working vehicle. Some government bodies will also give you a tax credit, which is good around spring of the next year. However keep in mind giving just to get the credit may make you look like a bad person. The opposite is true also for giving without seeking anything in return, your choice.

Now, if by some chance giving out of the kindness of your heart doesn’t motivate you, there are rewards. Some charities will give you cash. Government programs may either give you cash, or a tax credit. However giving out of the goodness of your heart and not seeking, or accepting any reward for the donation can make you feel good.

If you can’t decide on which charity organization is the most deserving, why not donate it to your town? One of the drains on the city’s coffers is the cost of running errands around town. This will help save the city money. This cash can be used for other purposes, such as schools. By doing this the whole community indirectly benefits from your vehicle donation.

To whom you donate the vehicle to is completely up to you, but make sure that you check the condition of the car before you donate it. You definitely don’t want to donate a car that turns out to be a lemon.

Tags: Auto Loan, Car Donation, Cars, Charities, donation, Tax, Tax Deduction

Investment Rules for 529 College Savings Plans: IRS Eases Rules

Jun 10, 2009 Uncategorized

Saving for college is always difficult and is even more so during the current economic downturn. One of the most popular college savings plans are so called “529 plans.” The IRS recently announced that participants in 529 plans will be able to change their investments more often in 2009 than in past years. The IRS will allow a change in investment strategy twice in 2009. This is good news for 529 plan participants, especially those who may otherwise be locked into a mix of investments that has turned out to be more speculative than initially contemplated.

Tax-Free Distribution A 529 plan is qualified tuition program. By contributing to a 529 plan, taxpayers contribute to an account established for paying a student’s educational expenses. Eligible educational expenses may include the costs of tuition, books, and fees at eligible institutions, such as colleges, vocational schools, and other ostsecondary institutions.

Contributions to 529 plans are not tax-deductible. However, earnings are tax-free, and distributions used to pay the beneficiary’s qualified education xpenses are tax-free.

Be aware that A 529 plan should not be confused with a Coverdell Educational Savings Account (Coverdell ESA). A Coverdell ESA is also a savings account for education expenses that offers tax-free distributions. The funds saved in a Coverdell ESA can be used for elementary and secondary school expenses as well as college costs.

Investment Decisions Generally, participants in 529 plans must select only from among broadbased investment strategies designed exclusively by the program. Additionally, the IRS has traditionally permitted a change in investment strategy only once a year.

Because of the economic slowdown and the turmoil in the financial markets, the IRS will allow investments in a 529 plan to be changed during 2009 on a more frequent basis. A 529 plan won’t violate the investment restriction if it permits a change in the investment strategy twice in calendar year 2009, as well as upon a change in the designated beneficiary of the account.

Tags: Accounting, Business Loans, college, Doeren Mayhew, Education, Investment, Irs, savings, school, Tax, tuition

Common Methods Adopted By Tax Fraud Lawyers

May 31, 2009 Uncategorized

It is surprising just how many people try to escape their duty to pay tax to the federal government each year. Anyone found doing this is committing an offence under the tax laws of the United States. Each person and business has a duty to pay taxes to their government so it is able to function properly and fulfill its duty to its citizens. Normally, when this type of crime is committed, it is by people that have no previous record with the police or authorities.

The term Tax Fraud covers all the crimes relating to tax that has not been paid for whatever reason, even for those who are just late in submitting their tax returns. Tax fraud lawyers are specialized attorneys that deal with issues of tax fraud and represent clients who are accused of tax fraud.

Unlike other kinds of tax lawyers, tax fraud lawyers do not advise on tax planning or filing of income tax returns. If you require their services then either the worst is about to happen and you suspect the IRS are investigating you or they have concluded their work and have charged you with tax fraud offences. On many occasions, a tax fraud lawyer is used merely as a negotiating tool to lessen the chances of a prison sentence and to find ways that outstanding tax debts can be paid.

It is not uncommon for people and even companies to fail in their tax responsibilities through lack of knowledge or understanding of their responsibilities. Some individuals and firms also fall foul of poor advice for their tax planning form the tax specialists they employ to represent them.

If an attorney proves that his client is the innocent victim of wrong tax advice by some tax consultants, it’s likely that the charges against them might get dropped or a lenient sentence might be passed. The need to choose a tax consultant that has proper qualifications cannot be underestimated in circumstance like this if investigation by the IRS is too be avoided.

The most common method adopted by tax fraud lawyers to get relief for their clients is by convincing the tax authorities that prosecuting the defaulter will do more harm than good and would not fetch them the recoverable tax dues. When this line of reasoning is well presented, the authorities might settle for a compromise by accepting payments in installments or waiving off a part of the tax dues instead of prosecuting them.

Tags: Business Loans, Tax, Tax Fraud, tax lawyer

Quality Help With Preferred Tax Relief

May 26, 2009 Uncategorized

I am an American by means of IRS money owing. I be acquainted with I am not unaccompanied. I spent a lot of research time online in order to discover something that was going to work for me. At present I am on a reimbursement plan with the IRS for the existence of 2006 and 2007. I feel like I’m drowning in debt because of the weight of all the payments, interest and penalties that seem to grow exponentially as time passes. Because there are many Americans in the same situation as me, I wanted to tell you my story, so that you can learn from my experiences.

To begin with, it is important to understand the type of aid I was seeking. I was looking for someone who fully understood the IRS’s game. There’s no one who comprehends the rules to the game better than those working for the IRS. My best case scenario, then, was to have people that used to work for the IRS. In order to get out of my debt and the mess which I have created, I’m looking for people who can talk to IRS for me and some how get my payments lowered.

I scoured the internet for a CPA. There are an untold number of websites that exist today. Confidential CPA’s who accuse a lot of money for their services and money that I don’t have. And there are giant, famous companies like H&R Block that simplify the tax submission and do it for you. However, there is a inherent disadvantage to large corporations; they have thousands of employees. Accordingly, it is questionable whether you will get someone good. They might understand the IRS game as well as IRS staff and they might not. I was willing to experience more of a crap shoot.

At last I discovered exactly what I’d been looking for. A tax relief company staffed by ex-IRS employees. http://www.preferredtaxrelief.com. Actually it was the best possible result. The people who negotiate for you and work for you completely know how IRS works and can help you no matter what your situation is. Truthfully, I be so surprised that what I was journey my finger to find in fact existed!

So now I’ve found my new tax people. And I feel very confident that all my finance problems are on their way to being solved once and for all. It feels so good to be able to just turn all of this nonsense over to someone to take care of it for me. I feel relieved and unburdened.

I do not have a special concern in providing you with this data. I think I always believe that it just creates good karma to help and support others whenever you can. Therefore I perform this every chance I get. I hope you get the help you need to solve your financial situation as well. Also, I really hope this document was of some use to you.

Tags: Business Loans, Cpa, Irs, Tax, Tax Help, Tax Relief