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Author Archives: wealth18

SREI Infrastructure Finance – NCD Sep 2012 – Details & Review

Last updated : 2nd May, 2014 SREI Infrastructure Finance – NCD Details & Review – Sep 2012 SREI Infrastructure Finance is the latest company to raise funds through NCDs. Secured NCD from SREI Infrastructure is offering interest upto 10.30%. The first-cum-first serve issue opens on 20th Sep. It is offering lower rates as compared to recent NCDs of Religare Finvest (12.5%),  Muthoot Finance (12%) & Shriram City Union (11.75%) About the Company :  Srei Infrastructure Finance Limited (NBFC) provides financial products and services to its customers engaged in infrastructure development and construction, with particular focus on power, road, telecom, port, ... Read More »

Religare Finvest Limited – NCD Issue Sept 2012

Last updated : 2nd May, 2014 Religare Finvest Limited – NCD Details & Review 12.50% return on 5 year secured NCD from Religare Finvest seems attractive for retail investors.  The issue is opening on 14th Sep (on first come first served basis) and offering rates better than recent NCDs of Muthoot Finance (12%) & Shriram City Union (11.75%) Religare Finvest Limited, a subsidiary of Religare Enterprises Limited intends to raise Rs 500 crore from the capital market through its public issue of Secured Redeemable Non-Convertible Debentures.  This NCD is offering yield upto 12.6%. About the Company Religare Finvest Limited is ... Read More »

Muthoot Finance NCD Issue – Sep 2012

Last updated : 2nd May, 2014 Muthoot Finance NCD Details & Review NCDs are flavour of this year. After Shriram City Union Finance NCD opening on 12-Sep-2012, another NBFC – Muthoot Finance has hit the market with public issue of secured NCDs offering upto 12.25%  p.a. interest. The issue will open on 17-Sep-2012. Company Muthoot Finance Limited is the largest gold financing company in India in terms of loan portfolio.  The company provides personal and business loans secured by gold jewellery, or gold loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable ... Read More »

Shriram City Union Finance – NCD Issue Sept 2012 – Should you invest in it?

Last updated : 2nd May, 2014 Shriram City Union Finance Limited – NCD Details & Review In my earlier post, I explained about NCDs and whether you should consider it as Investment option. After India Infoline Financial Services Ltd’s unsecured bonds offering 12.75% per annum, Shriram City Union Finance Ltd has hit the market with a public issue of secured NCDs offering 11.75% per annum. Company Shriram City Union Finance Limited (SCUF) is a part of the Chennai based Shriram group of companies and the sister concern of Shriram Transport Finance. They are entering the debt market second time. SCUF ... Read More »

What is NCD? Should you invest in NCDs?

Last updated : 23rd April, 2014 What is NCD? Should I invest in NCDs? In recent past, you might have seen number of advertisements in newspapers / business news channels, where companies offering lucrative rate of interest for investment in their NCDs.  Recent NCD Issues Muthoot Finance Limited NCD Religare Finvest Limited NCD Mannapuram Finance Limited NCD Shriram City Union Finance NCD India Infoline Financial Limited NCD Most of these NCDs were offering interest of 11-14% p.a Lets understand what is NCD and whether you should invest in it.   What is NCD Full form of NCD – Non Convertible Debentures ... Read More »

Last date for filing income tax return extended to 31 Aug 2012

Last updated : 23rd April, 2014 As 31-July is last date of filing Income tax returns, most of the people faced difficulties in the past week due to major power outage in North India. CBDT has extended the ‘due date’ of filing of returns of income for the Assessment Year 2012-13 to 31 August 2012. Due to collapse of Northern Grid, there was a massive power outage in Northern India affecting more than 300 million people. Services like metro, trains, airlines were also affected. CBDT has issued a  notification to extend the last date of filing returns to 31 August ... Read More »

Have a Bank Account outside India ? e-Filing of IT return mandatory

Last updated : 23rd April, 2014 Are you an Indian professional who has worked abroad on assignment and opened a bank account outside India ?  Even if you have $1 in that bank account,  it is now mandatory to file Income Tax return online. Latest Income Tax circular has made it mandatory to file Income tax return online, if  an individual or a Hindu Undivided Family (HUF), being a resident, having assets (including financial interest in any entity) located outside India or signing authority in any account located outside India. All resident people with bank account, financial interest in any ... Read More »

e-filing of Income tax return mandatory if income exceeds Rs 10 lakhs

Last updated : 23rd April, 2014 Whether your income for the Financial Year 2011-12 i.e for period of April 2011 – March 2012 (Assessment Year 2012-13)  is more than Rs 10 lakhs ??? If yes, You need to compulsorily file the Income tax return electronically. E-filing of Income tax returns has been made compulsory for the person who is an individual or a Hindu Undivided Family, if his or its total income exceeds Rs 10 lakhs. E-filing for such individuals was optional till 2010-11. For filing the return online, having Digital Signature is NOT Compulsory. Returns can be filed with ... Read More »

Now you can transfer funds from NRO to NRE account

Last updated : 23rd April, 2014 The Reserve Bank has now allowed non resident Indians (NRIs) to transfer funds from non-resident ordinary (NRO) account to Non-Resident External (NRE) account a/c. ( May 2012) The maximum limit is $1 million in a financial year. As per the existing regulation, funds transfer from NRE account to NRO was allowed, but not from NRO to NRE.  Funds transfer from NRO account to Bank Account abroad was allowed. See my post – How to transfer funds from your NRO Account This new RBI notification allows to transfer funds from your NRO Account to NRE ... Read More »

How to transfer funds from your NRO Account

Last updated : 23rd April, 2014 Do you have balances in your NRO account and want to transfer abroad? Here is a quick guide related to remit / transfer funds from your NRO account to a Bank Account outside India. Balances in the NRO account are not freely repatriable. But the RBI does allow NRIs to remit up to USD 1 million per financial year from the NRO account, provided you follow certain procedure. Balances in the NRE account are freely repatriable  and  you do not need any permission for remittance abroad for any amount. Procedure to remit / transfer ... Read More »

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