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Author Archives: wealth18

IT dept launches facility to correct PAN or Aadhaar details

Last updated : 14th May, 2017 The government, under the Finance Act 2017, has made it mandatory for taxpayers to quote Aadhaar or enrollment ID of Aadhaar application form for filing of income tax returns (ITR).Also, Aadhaar has been made mandatory for applying for permanent account number with effect from July 1, 2017. To link PAN with Aadhar, IT dept has launched online facility, but the details in PAN and Aadhaar needs to be same. Read my post on – How to link PAN with Aadhaar online with/without login. If for some reasons, your details in PAN and Aadhaar are ... Read More »

IT dept launches new simple facility to link PAN with Aadhaar

Last updated : 14th May, 2017 The Income Tax Department has made it easy for taxpayers to link their PAN with Aadhaar. Responding to grievances of taxpayers regarding difficulties in linking PAN with Aadhaar their names did not match in both systems (Eg. Names with initials in one and expanded initials in another). the Department has come out with a simple solution now. There is no need to login or be registered on E-filing website. This facility can be used by anyone to link their Aadhaar with PAN. Taxpayers can go to www.incometaxindiaefiling.gov.in and click on the link on the ... Read More »

How to link Aadhar card to PAN online?

Last updated : 14th May, 2017 Government has made it mandatory to link Aadhaar card to your PAN before 30 July otherwise, PAN card may be rendered invalid.  However, a case is pending in Supreme court to challenge its constitutional validity. To be on safer side, you may want to link Aadhaar card to PAN online – the process is quite simple. Login to Income Tax efiling website – https://incometaxindiaefiling.gov.in/ Under Profile Settings tab – there is an option “Link Aadhaar”. You need to enter your Aadhaar number & Name as per Aadhaar The Aadhaar will be now linked to ... Read More »

Online PF withdrawal facility started – Details & Process

Last updated : 5th May, 2017 From 1st May 2017, EPFO has launched facility to apply for PF withdrawal online. Previously, you could check the PF balance and apply for PF transfer online, and now you can withdraw PF online as well. This will be huge benefit for the PF subscribers. Details & Features of online PF withdrawal facility Members will be able to withdraw full PF amount, partial PF amount and pension.  The three forms – Form 19, Form 31, and Form 10-C — together form more than 80% of EPFO’s claim workload. Online PF withdrawal can be done ... Read More »

IRB InvIT Fund IPO (First InvIT Fund) – Details & Review, Price, Listing

Last updated : 4th May, 2017 Update: 4th May Day 2: IRB InvIT Fund IPO subscribed 62% on Day 2. Institutional Investors’ portion was subscribed 49% and other investors 77 %. Engineering company IRB Infrastructure on became the first firm to announce a public offer in the InvITs space with a Rs5,000 crore plus public issue of its fund opening on 3 May. What are InvIT :  InvITs or infrastructure investment trusts are those debt instruments which be traded in the market and can act as investment vehicles for the sponsors. The listing of instruments enable promoters of infrastructure to monetise completed ... Read More »

Inv-IT – Meaning, Details & Review (Infrastructure Investment Trusts)

Last updated : 13th September, 2017 If you are wondering what is Inv-IT or what is the meaning of Inv-IT, then this post should clarify some of these things: What are Inv-IT (Infrastructure Investment Trusts)? Infrastructure Investment Trusts (InvITs) are similar to mutual fund companies that allow pooling the infrastructure projects into separate trust and allow investors to invest in the units of InvITs. Investors will get the portion of income from such infrastructure assets. Regulations InvITs are regulatedby SEBI in India. SEBI notified SEBI (Infrastructure Investment Trusts) Regulations, 2014 on September 26, 2014, providing for registration and regulation of ... Read More »

Cost Inflation Index Chart Table – 1981 to 2016 2017 – For Income Tax Capital Gain Purpose

Last updated : 4th May, 2017 Cost Inflation Index is used for Calculating Long term Capital Gain. Every year, Income Tax department notifies Cost Inflation Index.  CII is very useful to calculate Long Term Capital Gain Tax. Budget 2017 changes:  Budget 2017 has changed the base year of Indexation from 1981 to 2001. Read details & impact on Investors & capital gain. Capital Gain = Sales Consideration – Indexed Cost of Acquisition Indexed Cost of Acquisition = Actual Purchase Price *  (Index in year of Sale / Index in Year of Purchase)    The cost inflation index notified are as under ... Read More »

S Chand and Company IPO – Allotment status, Price, Listing – Details & Review

Last updated : 8th May, 2017 Allotment Status: S Chand IPO allotment status will be available on Link Intime’s website. Click on this link to get allotment status. You can also check your IPO allotment status from your mobile at  http://linkintime.co.in/ipo  Update: Day 3: S Chand IPO issue is oversubscribed 60 times on day 3.  (QIB – 44 times, Retail 5.48 times,  NII – 204 times) Update: Day 2:  S Chand IPO issue is already oversubscribed 2 times on day 2.  (QIB – 2.68 times, Retail 2.24 times,  NII – 0.4 times) S Chand & Co , the leading publishing and education service enterprise is ... Read More »

Now you can invest in Mutual funds via digital e-wallets

Last updated : 26th April, 2017SEBI has issued guidelines for using e-wallets in Mutual funds investment. After demonetisation many people are using e-wallets and it will make it easier for them if mutual funds investment is allowed via e-wallet.  Following are the guidelines: Investment upto Rs 50000 per mutual fund per financial year can be made using e-wallet. Further, this limit of Rs 50,000 would be an umbrella limit for investment by an investor through e-wallet and/or cash, per mutual fund per financial year. E-wallet’s balance loaded through cash or debit card or net banking, can only be used for ... Read More »

30th April deadline for self-certification for your bank account (FATCA)

Last updated : 25th April, 2017CBDT has issued statement that all bank accounts that were opened between July 1 2014 and August 31 2015 require submission of self-certification forms by 30th April 2017. If you do not submit it within time then the accounts will be blocked. This self-certification is related to compliance with Foreign Account Tax Compliance Act (FATCA) provisions. The transactions by the account holder in such blocked accounts may, thereafter, be permitted once the self-certification is obtained and due diligence completed. Submitting the self-certification under FATCA is not complex. It does not require one to submit the ... Read More »

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