A Step into The Virtual Investment World With Mutual Funds

All one wishes for is money to multiply on its own and buying mutual funds online is just the most secure way to lock on that. If you are just starting out in the investment arena, you would fail to understand how mutual funds can actually help you grow your wealth. Mutual funds share a pool of people’s money that is invested by professional and certified fund managers in various schemes. The profit made from the total corpus is divided within the contributors of that mutual fund in the proportion of their money invested.

Mutual funds are divided into categories based on the investment objective, risk-taking appetite, asset class, structure and period of investment. Once you have figured out the requisite i.e. the asset class and its subordinate scheme, the next step is to buy mutual funds online. You cannot simply open your browser and choose to buy mutual funds online. There is a systematic procedure to be followed. This includes:

Look for a SEBI registered broker house offering to open free demat account and other related services at minimal AMC.
Sign up using basic details like Name, contact number, Email ID.
In order to authenticate your identity, go for online KYC. Complete your procedure of online KYC with documents like PAN/AADHAR/Address and Identity proof.
Once you are successfully finished your online KYC, your demat and trading account will be active and you will be able to buy mutual funds online. If you are not a very tech-savvy person, you can also can on online KYC and physically walk in with your documents to your selected broking house or a CAMS KRA center to complete your KYC. Once your documents are validated, you can use the usual demat login to buy mutual funds online.

This is a one-time process. You do not have to open a demat account every time you buy mutual funds online. To buy mutual funds online, you can directly call the broker house to place a trade, or you can use their app to make a purchase on the go by logging into your account. To sum it up, once you have a demat and trading account in place, buying mutual funds online will nothing more than 2 clicks!

Let’s Talk Online Entertainment!

We are into the new age of Entertainment. Majority of us are consuming the content on smaller screens of our smart phones. With numerous online streaming platforms available today, viewing content on television will soon become obsolete. This generation does not watch television anymore. Instead of television like the old days, we now view the live cricket streaming while travelling to work in a bus or a metro. TV shows are now replaced by online tv shows.

There are apps to almost all the online streaming platforms so that we can view content easily on our smart phones. Each online streaming platform have their own content which comprises of online tv shows,online tv serials, documentaries, highlights of a recent match, originals and many more. You can choose from their ample playlist according to your taste. Many of them also provide free streaming of live matches. On SonyLIV you can view the current India and Australia test series live without any cost on their website or app. Consuming content online opens up many new entertainment doors for you. While on TV a family gets glued to one serial for years with never growing characters, web is a departure from that. On web you get to discover more and develop taste for new kind of entertainment. Content like documentaries, original web series; match highlights of numerous sports and leagues, sister channel’s shows and a big playlist of movies from all over the world are available to you on a single click. This makes us curious about new things and in the process we sometimes end up watching far more interesting things as compared to what we must have consumed on TV.

Most of the content on these video on demand site is free, but for their premium content you have to pay a nominal monthly fee which costs less than your monthly cable bill. A free first month only tempts one further to go ahead and subscribe. In this age of revolution in the entertainment industry, Directors and producers are willing to invest on new and meaningful stories. They don’t mind shifting their focus from big screens to small screens, as long as the content is powerful and there is an audience for it. This is the reason that all the good content has now shifted from television to these video streaming apps and portals. Many T.V companies also have tied up with these online streaming companies and you can view their content on your television instead. Online entertainment is the future of content viewing.

Top 5 Tax saving options

As the end of financial year draws near, most people remember their taxes then they start hunting down options to save as much as possible. People make the wrong investment decisions at the last minute.

These 5 options help you to save your tax

1. Equity Linked Saving Schemes (ELSS)

ELSS investment option are very effective and specially made for saving taxes. It has given you very high returns compare to PPF. It is one of the two tax saving schemes in India that are based on equity. The other scheme is ULIP. ELSS can be done through tax saving SIP, it is the one of the main advantages of ELSS.

Under Section 80C of the Income Tax Act, you can earn tax deductions on investments up to Rs. 1.5 lakh per annum. Also, ELSS funds come with a lock-in period of just three years. This is much lesser than most other tax saving options available to you. This means you have the freedom to move your funds more efficiently based on your financial requirements.

2. Public Provident Fund (PPF)

Public provident fund is the most popular investment scheme for investor when it comes to tax saving. PPF is a safe investment with zero risk plus its also provides decent returns if not very attractive.

Investor can avail loan facility against their PPF investment. Each year, you can save up to Rs. 1.5 lakh by investing in PPFs. This comes under Section 80C of the Income Tax Act.

3. Unit Linked Insurance Plans (ULIPs)

Unit linked insurance plan (ULIPs) is a hybrid product, a combo of investment and insurance. Being on insurance, this means that a part of the premium you pay is utilized to provide insurance cover and the remaining is invested in various equity and debt schemes.

Investment in ULIPs is eligible for tax benefit up to a maximum of Rs 1.5 lacs under Section 80C of the Income Tax Act

4. New Pension Scheme (NPS)

New Pension scheme is one of the very few options for tax saving. The investor needs to deposit a minimum amount of Rs. 500 and a minimum of Rs. 6,000 every year. Investors have the choice to opt for allocation of equity, bonds, and gilts.

5. Sukanya Samriddhi Yojana Returns

This is the very best option for taxpayers who is having daughter below 10 years. The interest rate of Sukanya Samriddhi Yojana Returns is 8.1% but it still higher than what PPF offers. Interest rate earned is tax free and there is an annual cap of Rs 1.5 lakh on the investment.

How to complete your mutual fund KYC?

If you are first time investor in mutual funds, you need to comply Know Your Customer (KYC) norms. KYC norms is mandatory for all mutual fund investor. You can get it done it either offline or online.

KYC is updated on the company’s website for which it is needed. There are several documents that are needed in order to update KYC online. Here is a list of the same:

Aadhaar card
Driving License
PAN Card
Voter’s ID
Aadhaar letter card
Bank Account Proof
Ration Card

Where should you submit the form?

AMC (Asset Management Company) with which you are making an investment
RTA (Registered Transfer Agent)

The online KYC registration can be also done easily in just a few simple steps.

The investors must fill up all the details in KYC change form. The form can be easily downloaded from the website of KRA or AMC website.

You can submit your KYC in under 2 minutes by uploading the photographs of your identity proofs from your phone. Upload photographs of your PAN Card, address proof and your signature along with a selfie video authenticating your identity. Submit self-attested copy of approved proofs along with form.

Afterwards, the form and proofs will be verified by a person who is authorized to carry out in-person verification against attested copies or originals.