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Author Archives: wealth18

Government proposes income tax benefits for debit/credit card payments

Last updated : 24th June, 2015 Government has come out with the proposal to provide income tax benefits for payments made through debit or credit cards. This will encourage electronic transactions and reduce the black money transactions. Government is also proposing No Transaction charges on card payments at petrol pumps, gas agencies and railway tickets mandatory for all transactions above Rs 1 lakh to only be conducted electronically. Encouraging shopkeepers – The government is also looking at encouraging shopkeepers and traders to accept electronic payments rather than cash. The draft said that appropriate tax rebate can be extended to a merchant ... Read More »

[How to] claim tax or TDS refund for last six assessment years

Last updated : 15th August, 2015 As you know, currently income tax returns can be filed for last 2 assessment years. So you could file returns and claim the refund (TDS refund) for last 2 years only. Now in the latest circular (09/2015), Income tax department has allowed the assessee who has failed to file return and claim Refund according to section 119(2) (B) to make an application and get Refund due up to last 6 Assessment years. Steps to claim refund for the last 6 years: 1. You need to file an application to the concerned Income tax official ... Read More »

Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) – Details & Review

Last updated : 9th June, 2015 In Budget 2015, Finance minister Arun Jaitley announced these social security schemes: Pradhan Mantri Suraksha Bima Yojana (for Accidental Death and Disability), Pradhan Mantri Jeevan Jyoti Bima Yojana (for life insurance) and Atal Pension Yojna (for pension). These schemes were launched in May 2015 and will be effective from 01-June-2015. Details of Pradhan Mantri Suraksha Bima Yojana (PMSBY) – for Accidental Death and Disability Risk Coverage • Accidental death  – Rs 2 Lakhs   • Full disability (Total and irrecoverable loss of both eyes or loss of use of both hands or feet or ... Read More »

Sukanya Samriddhi Account Birth Certificate Alternative

Last updated : 5th June, 2015 In this post, I am explaining about the alternatives to open Sukanya Samriddhi Yojana if you donot have the child’s birth certificate. Sukanya Samriddhi Yojana is new saving scheme announced in Jan 2015 for saving money for the girl child’s education and marriage. (Read Post –Sukanya Samriddhi Account – Features & Review) Features of Sukanya Samriddhi Account The account can be opened when your girl child is born till she attains 10 years of age, Minimum deposit per year – Rs 1000 & Maximum deposit per year – Rs 150000 Interest rate applicable on this ... Read More »

How to open Sukanya Samriddhi Yojana Account in SBI

Last updated : 1st June, 2015 Many of our members are finding challenges in opening Sukanya Samriddhi Account with Banks as the bank officials are not aware of the formalities to open account in SBI. In this post, I am going to explain how to open SSY Account in SBI. Sukanya Samriddhi Yojana is new saving scheme announced in Jan 2015 for saving money for the girl child’s education and marriage. (Read Post –Sukanya Samriddhi Account – Features & Review) Currently Sukanya Samriddhi account can be opened from Post office. RBI has notified 28 banks which are authorized to open Sukanya ... Read More »

Hurry – you can file income tax returns for last 2 years by 31st March

Last updated : 15th August, 2015 Update June 2015 –  As per new circular, you can file application to claim refund for last 6 years. Read the post at the link.  You must be aware that due date for filing your income tax returns in 31st July. However, sometimes taxpayers fail to file their returns on time.  But you can file the belated returns for last 2 years by 31-3-2016. If you have received compliance notice for non-filing of returns, please read the post below What are your options, if you have not filed returns by due date of ... Read More »

Jewellery Offers with ICICI Debit Card

Last updated : 28th May, 2015 Shaze Offer –   Flat 10% discount at across all product categories. Offer valid up to August 31, 2015 Steps to avail of the Offer: Log on to Customer shall Select Shaze luxury Retail Pvt Ltd  per given categories at the website Customer shall make the payment through payment through the ICICI Bank Cards / Netbanking services only.   Satyug Gold  –   Flat 15% discount on Gold jewellery and products at Valid till October 31, 2014. Customer has to visit Purhase jewellery of your choice. Pay using ICICI Bank Debit Cards ... Read More »

Top Banking Stock Picks by Nomura

Last updated : 27th May, 2015 As per the recent Nomura report (published in ET), Nomura expects a 21 per cent PAT CAGR for private banks and 27 per cent for PSUs in FY15-17F (after remaining flat for five-six years). Retail banks have already started to see a pick-up in retail credit offtake. For corporate banks, Nomura believes earnings will pick up in 2HFY16F with better corporate or fee growth and lower credit costs. The brokerage firm expects reforms and various government initiatives to reflect in bank earnings from 2HFY16F. Top Picks from Nomura Read More »

Top Large cap and Midcap picks by Citigroup

Last updated : 27th May, 2015 Citigroup has issued its latest report and has adjusted its December-end target for the Sensex to 32,200 from 33,000 earlier. They have also introduced a Jun16 target of 35,000. The equivalent Nifty targets are 9,760 for Dec-15 and 10,600 for Jun-16. he bank has marginally tweaked their model portfolio to factor in changes – raise the banks overweight (OW) further, maintain – auto, cement and pharma as OWs, and additional upgrade telecom / internet from Neutral to OW. Top large-cap picks include names like Adani Ports, Aurobindo Pharma, Axis Bank, Bharti Infratel, Coal India, ... Read More »

India’s Top 10 Investors / Public Shareholders

Last updated : 27th May, 2015 CNBC has issued a report on India’s top 10 Individual investors or Public shareholders. These investors together hold shares that are valued at over USD 2 billion. Sr. No Shareholder Top Stocks Value of portfolio (Rs Crore) 1 Rakesh & Rekha Jhunjhunwala Titan, Lupin, CRISIL, NCC, Rallis check his latest portfolio 8,331 2 Anuradha Mahindra Kotak Mahindra Bank 1,740 3 Rajiv Rattan IndiaBulls Housing Finance, IndiaBulls Ventures 876 4 Ashish Dhawan Greenply, JB Chem, Greenlam, IIFL 782 5 Yusuffali M. A Federal Bank, South Indian Bank, Dhanlaxmi Bank 559 6 Prof. Shivanand Shankar Mankekar ... Read More »

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