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Author Archives: wealth18

9.4 % Reliance Home Finance NCD Issue Dec 2016 – Details & Review

Last updated : 24th December, 2016 Update:  Reliance Home Finance NCD is oversubscribed 3 times on the opening day. Seeing the overwhelming response, the issue will be closed on Friday instead of the scheduled date of January 6.   Reliance Home Finance will open its public issue of NCDs on 22nd Dec 2016 &  it closes on 6th Jan 2017. This NCD issue is offering  yield upto 9.4% and have 4 different investment options. In this post, I am trying to put details around how good this Reliance Home Finance NCD is ? What are the postive and negative factors of ... Read More »

Pradhan Mantri Garib Kalyan Yojana (PMGKY) 2016 – Undisclosed Income declaration deposit scheme

Last updated : 24th December, 2016 Pradhan Mantri Garib Kalyan Yojana (PMGKY) – Undisclosed Income declaration deposit scheme Government has brought in second income disclosure income called Pradhan Mantri Garib Kalyan Yojana. The new IDS has been notified along with other provisions of the Taxation Laws (Second Amendment) Act, 2016, on 16th December and has come into effect from 17th December, 2016. You can declare your unaccounted income under this scheme from 17th December 2016 to 31st March, 2017.  Key Features of Pradhan Mantri Garib Kalyan Yojana People can declare their undisclosed or black money under PMGKY Scheme till 31st March, ... Read More »

Sheela Foam IPO Review – Sleepwell Mattress IPO Details, Opening Date

Last updated : 20th December, 2016 Sheela Foam’s (Sleepwell Mattress) has announced its IPO which will open on 29th Nov.   Issue Details of Sheela Foam / Sleepwell Mattress IPO:   IPO Open :  29th Nov to 1st Dec Issue Price band: Rs 680 – 730 per share Issue Size: Rs 510 crores Market lot :  20 shares Minimum Investment:  Rs 14600 (Upper band) Book Running Lead Managers :  Edelweiss Sec & ICICI Sec Registrar – Listing: BSE/NSE IPO Issue Allocation Qualified institutional buyers (QIBs) –  50% of the total issue size. Non-institutional investors (NIIs) –  15% of the issue size. The retail quota ... Read More »

Demonetisation- Latest rules on withdrawal and exchange of old notes

Last updated : 23rd November, 2016 Over the past few days, government has been changing the rules for withdrawal and exchange mostly every day.  In this post, I am trying to capture the latest rules: Updated 23-Nov-2016 1) Now you can withdraw upto Rs 2000 from Big Bazaar stores –  From Nov 24, You can get Rs 2000 by using your debit / ATM card. The facility is now available at 258 Big Bazaar and fbb stores in over 115 cities and towns across the country. Big Bazaar has tied up with State Bank of India and enabled mini ATMs across all 260 ... Read More »

GST slab rates fixed – Check the impact

Last updated : 20th November, 2016 GST Council has fixed four-tier GST structure in Nov 2016 and it is expected to be rolled out from April 2017. The rate structure is 5%, 12%, 18% and 28% with lower rates for essential items and highest for luxury items. GST 0% Tax –  Some essential items including food grains, which presently constitute roughly half of the consumer inflation basket, will be taxed at zero rate. GST 5% Tax –  mass consumption items such as edible spices, tea, coffee, mustard oil will fall under this tax slab. GST 12% Tax – Process food ... Read More »

List of petrol pumps giving Cash

Last updated : 20th November, 2016 Government has now allowed selected petrol pumps to give cash upto Rs 2000 on swiping of your debit card. At present this facility is available to state run petrol pumps which has SBI POS Machine only.  This will be extended to other pumps within few days to other bank’s machine (ICICI, HDFC,Citibank)   Here is the list of 700 petrol pumps that are dispensing cash  –  petrol-pumps   Note that the daily limit for petrol pump is Rs 1 lakhs., which means they can only serve 50 customers in a day. In many petrol ... Read More »

How to convert black money into white money

Last updated : 20th November, 2016 Government has banned Rs 500 / Rs 1000 notes to tackle the problem of black money, corruption, fake currency. Many people are now searching for ” How to convert black money into white money”. It is one of the leading search term on Google. I do not encourage black money or methods mentioned below to convert black money to white money. Now people may be reaching you to get their black money converted or giving you lucrative offers. The intention of this post is to raise awareness that some of these methods are common ... Read More »

What is Benami Property – All you need to know

Last updated : 20th November, 2016 You must be hearing this word a lot now a days – “Benami property”. Government is taking actions to remove corruption and black money. After demonetisation of Rs 500 / 1000 notes, government is now starting to take action against benami properties. What is Benami property – As the name suggest, it means property without a name. In such transaction, the person doesnot buy the property in his / her name but buys in some other name. Exclusions for benami transactions: If the property purchased in name of spouse or child if the joint ... Read More »

What is Paytm? How to use Paytm to pay / receive money ?

Last updated : 20th November, 2016 When the whole country is struggling to exchange old currency notes & depositing cash into Bank, mobile payment wallets are coming handy. You can use these wallets to make payment for grocey, shopping , cab booking etc. Even your local kirana store man can use it for receiving payment. One of the most popular mobile wallet in India is Paytm. In this post, I am providing more details on paytm, how you can use it and get benefits now. What is Paytm? Paytm is the largest online payment platform in the country claiming to ... Read More »

List of Banks authorised for PPF Account

Last updated : 20th November, 2016 In my last post, I explained the features & benefits of PPF Account. Read More In the past you could have open PPF Account with Post office or State Bank of India or few other PSU banks. But now, there are may banks which are authorised to open PPF account. So ,  you can open or transfer PPF account to your nearest bank. Note that only designated branches of these banks are authorised to open PPF Account ( not all branches), so it is better to check with the Branch first. List of Banks ... Read More »

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