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Author Archives: wealth18

Key Highlights Summary of Indian Union Budget 2017-18

summary-budget 2017-18

Last updated : 2nd February, 2017 Key Points & Highlights of Indian Union Budget 2017-18  –  presented on 1st Feb 2017 Personal Taxation  Income tax for individuals for Rs 2.5 lakh to Rs 5 lakh lowered to 5% Individuals having income less than Rs 5 lakh will have to file a return with a one page form. Surcharge of 10% on those with income of Rs 50L to Rs 1 cr Reduction in timelines for revising return of income and completing scrutiny assessments. Read full details on the impact on personal taxes in more details. Fiscal Information India’s FDI increases ... Read More »

Personal Tax Impact – Indian Budget 2017-2018

budget 2017-18

Last updated : 3rd February, 2017 Budget 2017 was unique in the sense that it changed two things the age-old tradition of being presented on the last day of February, this year it was done on 1st of Feb and for the first time in independent India, the Railway Budget was combined with the general Budget. Key Personal Taxation Change 1. Tax Slab changes The rate of income tax is proposed to be reduced to 5% (from 10%) for income between INR 2.5 to INR 5 lakhs. This is likely to bring tax saving of at least INR 12,875 for ... Read More »

[How to] Invest in Mutual funds in India – online / offline options

ways-to-inverst-in-mutual-fund

Last updated : 11th February, 2017 Mutual funds are one of the best options for Retail investors to invest their money in different asset classes. It gives benefit of professional management of your money, offers liquidity, allow diversification and tax benefits. A.   Quick overview of process to Invest in Mutual funds 1) Submit KYC Form – KYC is must for the first time investors and need to be done ONLY ONCE and valid for all Mutual fund houses. You need to submit KYC form along with the Proof of ID & Address. You can submit it to your nearest ... Read More »

Rakesh Jhunjhunwala Latest Portfolio Holdings – Feb 2017

rakesh_jhunjhunwala

Last updated : 2nd February, 2017 Rakesh Jhunjhunwala, 53, India’s most distinctive investor with a net worth of more than USD 1 billion.  He is one of the most famous and respected equity investors in India and manages his own portfolio as a partner in his asset management firm, Rare Enterprises. Son of an income tax officer, he started trading in stocks while in Sydenham college and plunged into investing as a full time profession soon after completing his education. He started his career with $100 in 1985 when the BSE Sensex was at 150. He made his first big ... Read More »

CPSE ETF Jan 2017 Details & Review – Should you invest?

cpse

Last updated : 20th January, 2017 You may have been excited to invest by looking at Reliance Mutual Fund’s new ad – Invest in 10 Maharatnas & Navratnas at 5 % discount! This advertisement is for further fund offer (FFO) of CPSE (Central Public Sector Enterprises) ETF (exchange traded fund). Issue Open : Jan 18 23017 Issue closes: Jan 20 2017 Discount: As part of the FFO, an upfront discount of 5% is being offered to all category of investors. What is CPSE ETF? CPSE ETF is an exchange traded fund based on central public sector enterprises (CPSE) index. It ... Read More »

9.25% Muthoot Finance NCD Issue Jan 2017 – Details & Review

Last updated : 17th January, 2017 Muthoot Finance has opened its public issue of NCDs on 17th Jan 2017. This NCD issue is offering  yield upto 9.25% and have 11 different investment options. Latest NCD issue of Reliance Home Finance (22nd Dec 2016) was over-subscribed 3 times the issue size on day one itself. NCD issue of SREI Equipment finance was subscribed in 4 days only. In this post, I am trying to put details around how good this Muthoot Finance NCD is ? What are the postive and negative factors of Muthoot Finance NCD? Who should invest in Muthoot ... Read More »

BSE IPO Details & Review – Price Band, Issue Price, Opening date

Last updated : 16th January, 2017BSE Limited is the owner and operator of BSE Exchange (Bombay Stock Exchange), India largest stock exchange by number of companies listed. Issue Details IPO Open :  23 Jan to 25 Jan 2017 Issue Price band:  Rs 800 – 850 Issue Size:  approx Rs 1311 crore Market lot : 17 Max Shares for Retail – 221 IPO Issue Allocation Qualified institutional buyers (QIBs) –  50% per cent of the total issue size. Non-institutional investors (NIIs) –  15% per cent of the issue size. The retail quota limit in the issue = 35%    Objective of the issue: The ... Read More »

How NRIs can exchange old Rs 500 / 1000 notes or convert / deposit them?

nri

Last updated : 17th January, 2017   Latest Update: RBI has extended the facility for NRI to deposit old notes at designated RBI offices by June 30 2017. Under new facility, NRI can carry upto Rs 25000 (as per relevant FEMA regulation) via declaring them to customs and deposit it into RBI offices at in Mumbai, New Delhi, Chennai, Kolkata, and Nagpur. NRI travelling to India should go through the “red channel” at the airport, fill one page declaration form. A stamped document will be issued by Customs detailing the number of notes, date etc. Documents required to be submitted at ... Read More »

How to open Airtel Payment Bank Account- 7.25% Savings Account Interest

airtel-bank

Last updated : 17th January, 2017 Jan 2017 Airtel has now rolled out its payment bank across India.  If you want to earn its attractive 7.25% interest, you can open an account.  You donot need to submit any kind of documents as it is a paperless approach, using Aadhaar-based e-KYC.  Anybody who is an Airtel user, having an Aadhaar card, PAN card and carrying a smartphone with Internet connectivity can become a member of Airtel’s Payments Bank and earn an interest of 7.25% p.a by depositing a maximum of Rs.1 lakh. Here are the steps for you to open an ... Read More »

Pradhan Mantri Awas Yojana 2017 – New Home Loan Intetest Subsidy

pmay

Last updated : 4th January, 2017  Prime Minister Modi has now enhanced the scope and benefit under Pradhan Mantri Awas Yojana (PMAY) in 2017. This is done to boost the affordable housing and middle income category of the housing sector. The scheme was initially launched in June 2015 to provide ‘Housing for All by 2022’, offered beneficiaries an interest subsidy at the rate of 6.5% for a loan amount of up to Rs 6 lakh. Now the scope and benefit of this scheme is now enhanced as follows: In Urban Areas – Loans of up to Rs 9 lakh taken ... Read More »

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