Finance Ministry has published the Revised Discussion Paper on Direct Tax Code.
This is available on the following websites
you may post your comments.
Responses are solicited upto 30th June2010
Paragraph 1 in each Chapter describes the proposals in the DTC and Discussion Paper,
paragraph 2 highlights the issues and concerns raised
and paragraph 3 details the revised proposals in response to these concerns.
you may send your comments thro email also to
There will be changes in pension plans from 1st July 2010.
Minimum Lock in period 5years. (Presently 3 years in some plans).
Compulsory Insurance cover.(now you may opt 0 life cover).
No Full surrender. (now you may withdraw fully and close it after 5 years).
Investors, above age 50, don't want to pay higher mortality charge may invest now without life cover.
ICICI Prudential Premier Wealth is one of the best ULIP plans.
Key Benefits:
2% additional allocation of units from 6th year onwards on premium payments. (if you pay Rs 1lac as premium, units worth 102000 will be allotted to you).
every 5 years 2% additional units on the preceding year fund value will be allotted as loyalty additions, after 10th year irrespective of premium payments.
you may select Trigger Portfolio Strategy. (at every up or down of 15% in the NAV of Multi Cap Fund, it will be transferred to or from Money Market Fund). Gains earned will be protected.
you may choose Dynamic P/E Fund. (the allocation in equity is determined by reference to P/E multiple on the Nifty 50).
Minimum Life cover 5 times of annual premium.
Charges:
Premium Allocation Charge year 1 - 6%, year 2 and 3 4%, no charge from 4th year.
Policy Admin Charge 4.8% on annual Premium from year 1 to 5.
Minimum Premium Rs 18000 p.a .
Start with min 3000/pm (SIP style) and pay for 21 or more years.
after completion of 5 years, you are allowed partial withdrawal once in 3 years subject to a maximum of 20% of the fund value.
(though both deal in equity, ULIP and MF investments are two different kinds of investments).
