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Author Archives: wealth18

Income Tax Rates / Tax Slab for 2015-2016 and 2016-2017

Last updated : 20th July, 2016 In Budget 2016, there is no change in the tax slab for FY 2016-2017 . The tax rates are same as FY 2015-2016. Income Tax Slab / Rates applicable in India for Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of Individuals (BOI)   Applicable for FY 2015-2016 (AY 2016-2017)  & FY 2016-2017 (AY 2017-2018)   For Individuals below 60 years age (including Woman Assessees)     upto Rs 2.50 Lakh NIL Rs 2.50  lakh – Rs 5 Lakh 10% on amount exceeding Rs 2.50 lakh Rs 5 lakh – 10 ... Read More »

L&T Infotech IPO – Oversubscribe Details, Grey Market premium, Allotment Status & Date, Listing Date & Price, Unblocking of funds, Credit of shares, Review

Last updated : 19th July, 2016 Check Allotment Status for L&T Infotech IPO You can check the allotment status for L&T Infotech IPO at the registrar website (LinkIntime) below. As per the site, the allotment can be checked after 9 pm on 19th July .  http://www.linkintime.co.in/PublicIssues/ Update 13th July – Day 3 –  L&T IPO is oversubscribed 11.67 times on its last day. QIB – 19.90 times  oversubscribed HNI – 10.75 times oversubscribed Retail: 7.3 times oversubscribed L&T Infotech has attracted 10.58 lakh applications, the largest number of applications in IPOs since 2011. Grey Market Premium (GMP) for L&T Infotech is going @ Rs ... Read More »

Quess Corp IPO – Allotment Status and Date, Listing Date, Price, Unblocking of funds, Credit of shares

Last updated : 17th July, 2016 Allotment Status & Date :  Quess Corp IPO allotment is done now today 8th July & listing is expected on 9th July 2016. Allotment for Quess Corp IPO can be checked on its Registrar’s website Link InTime –  http://eipo.linkintime.co.in/PublicIssues/default.aspx http://eipo.linkintime.co.in/ipo/ As the retail portion is oversubscribed 32 times, they will get very limited shares. I have checked with two of my friends. they applied for minimum lot and have not got any allotment. So don’t be very hopeful of getting allotment. Also Read:  L&T Infotech IPO opening on July 11. See Details & Review.   01-July-2016 ... Read More »

10% Edelweiss Housing Finance NCD Issue July 2016 – Details & Review

Last updated : 6th July, 2016 Edelweiss Housing Finance Limited (EHFL) is opening its first public issue of NCDs on 8th July 2016 &  it closes on 27th July 2016. This NCD issue is offering  yield upto 10% and have 7  different investment options. In this post, I am trying to put details around how good Edelweiss Housing Finance NCD is ? What are the postive and negative factors of Edelweiss Housing Finance NCD? Who should invest in Edelweiss Housing Finance NCD?   Key Features of Edelweiss Housing Finance NCD NCD Issue Open: 8th July 2016 NCD Issue Closing date: 22nd ... Read More »

Mahanagar Gas Limited (MGL) IPO – Allotment status, Listing date and price

Last updated : 6th September, 2016 Check MGL IPO Allotment Status, Listing date and price –   30th June – MGL IPO shares are allotted now. The listing date is 1st July. You can check the allotment status at the link – Direct link – http://mglipo.linkintime.co.in http://www.linkintime.co.in/publicissues/default.aspx Many retail investors who have applied for full Rs 2 Lakh, they have not got any allotment. The allotment is done on a lottery basis. So dont be surprised if you have not received any allotment.   Also Read:  Quess Corp IPO has opened on 29th June 2016, closing on July 1. See ... Read More »

LIC Bonus Rates for 2015-2016

Last updated : 27th June, 2016   Reversionary Bonus is declared per thousand of the Sum Assured Amount in each financial year by LIC. It will be be paid at the end of maturity period or on the death of the policyholder, whichever is earlier. Reversionary Bonus Rates declared as a result of valuation as at 31st March 2015   Reversionary Bonus Rates declared as a result of valuation as at 31st March 2015 Sl No. Plan Term* Bonus Rates (Per `       1000/- Sum Assured)**       2015 1 Whole Life Type Plans (2,5,6,8,10,28 – before conversion,35,36,37,38,49,77,78,85 & 86)   70 2 Endowment Type Plans (14,17,27 – after conversion, 28 -after ... Read More »

LIC Jeevan Pragati Policy (Table no. 838) – Plan Details and Review

Last updated : 27th June, 2016 LIC has launched “Jeevan Pragati Policy” (Table Plan No. 838) in Feb 2016.   Unique Identification number of Jeevan Pragati Plan is 512N306V01. This policy is with profit endowment (savings-cum-protection) policy non-linked (not linked to stock market) This is the third policy launched by LIC in 2016 after LIC Jeevan Labh and Jeevan Shikhar In this policy, the risk cover keeps on increasing every 5 year. This is an important feature as it provides adequate risk cover against inflation as the years passes.  You can also add accidental benefit rider. Key Features Increasing Life Cover every ... Read More »

MSCI Global Index Review Changes – May 2016

Last updated : 31st May, 2016 MSCI has made changes to its Global Indexes and it has an impact on shares of following Indian companies: These changes were announced on 12-May-2106 and will be effective  from 31-May-2016 Additions Deletions     MSCI Global Standard Index  / MSCI India Index   Bajaj Finance Reliance Communication Havells India REC Titan Company United Breweries Yes Bank     Following changes were made to the MSCI Small cap Index Additions Deletions     MSCI Small Cap Index   Aditya Birla Fashion Bombay Dyeing Aegis Logistics GVK Power & Infra Ashoka Buildcon Havells india Balrampur ... Read More »

Tax deduction (TCS) threshold for cash purchase of gold jewellery rolled back

Last updated : 31st May, 2016 The government has rolled back its budget decision to apply 1% tax collection at source on cash purchase of gold jewellery of Rs 2 lakh and above and raised the threshold to the earlier Rs 5 lakh with effect from June 1. Earlier, the threshold for tax collection at source (TCS) was applicable for cash jewellery purchase of above Rs 5 lakh. In the Budget, the government proposed to reduce the threshold to Rs 2 lakh. As a result, 1% TCS was applicable for cash jewellery purchase of above Rs 2 lakh. Jewellers went ... Read More »

No TDS for PF withdrawals of up to Rs 50,000

Last updated : 7th October, 2016 The government has now changed the rule on  TDS deduction on PF withdrawal. Now, no tax would be deducted at source for PF withdrawals of up to Rs 50,000 from June 1 2016. So no TDS if your withdrawal is upto Rs 50000. The Finance Act , 2016 has amended section 192A of Income Tax Act, 1961 to raise the threshold limit of PF withdrawal from Rs 30,000 to Rs 50,000 for Tax Deducted at Source (TDS),” the notification stated. The provision will come into effect from June 1, 2016. Earlier in the budget, the ... Read More »

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