1 January 2013 - Wealth18.com

Jan12013 by wealth18.comNo Comments

When do you need a PAN Card?

Taxation

1. What is PAN PAN is short form of "Permanent Account Number" . It is a 10 digit alpha-numeric unique number allotted by Indian Income Tax Department. It is issued in the form of a laminated card. The PAN is unique, national, and permanent. It is unaffected by a change of address, even between states. 1a. PAN Structure PAN structure is as follows: ABCPG9999K: First five characters are letters, next 4 numerals, last character letter First 3 characters - are running series - AAA to ZZZ Fourth character - depends on catergory og PAN owner C — Company P — Person H — HUF(Hindu Undivided Family) F — Firm A — Association of Persons (AOP) T — AOP (Trust) B — Body of Individuals (BOI) L — Local Authority J — Artificial Juridical Person G — Govt Fifth character - Surname init...

Should you invest in Gold ?

Banking

With gold prices touching new highs, you must be regretting for not buying gold when it was “cheaper” 2-3 years ago. You must be thinking – “Should I buy gold now before any further increase in prices?” Government has hiked the import duty in gold from 4% to 6% to curb import of gold. (ET 21-Jan-2013). Why government wants to restrict import of gold? In this post, I have tried to discuss these questions and various other aspects related to gold investment. ============================================================================ We, Indians, love Gold and made India - the world's largest consumer and importer of gold. About 40 per cent of the world's annual gold production is consumed by India and China. In 2011 & 2012, India imported approx. 1000 tonnes ($58 billion) & 800 ...

Basics of Mutual Fund

Mutual Funds

I remember, when I advised one of my friends to invest via Mutual funds, he replied - "I am afraid of share market and that's why I don't want to invest in Mutual Funds. " Do you also think, investing in mutual funds means investing in share market and it is as risky as share market. Then you are not correct and need to understand the basics of Mutual Fund. It is a Myth that : Mutual Funds means Share Market. Mutual Fund by itself is not an Investment but it is a way to invest in other products like Equity (Shares), Fixed Income, Commodity (Gold), Index, etc Size of Mutual Fund Industry in India As per AMFI, the total Funds under management as on 31-March-2012 is Rs 587,271 crores There are 44 mutual fund companies in India operating 1000+ mutual funds schemes under various categories. Wh...