8 July 2014 - Wealth18.com

Jul82014 by wealth18.comNo Comments

Rakesh Jhunjhunwala buys 2% stake in MCX for Rs 66 crores

Stocks

Rakesh Jhunjhunwala today purchased nearly 2% stake in commodity exchange MCX for over Rs 66 crore ( @ Rs 664 / share) According to information available with the stock exchanges, Financial Technologies (India) Ltd (FTIL) has sold a total of 10.19 lakh shares, amounting to 2% stake in MCX. FTIL diluted its holding in MCX from 26 % to 24% . Jhunjhunwala picked up 10 lakh shares of Multi Commodity Exchange (MCX) on an average price of Rs 664 per share. This values the transaction at Rs 66.4 crore.+ Also Read - Rakesh Jhunjhunwala Latest Portfolio Holdings - July 2014 These transactions took place at a time when parleys are being held on for sale of 24 per cent stake by Jignesh Shah-promoted FTIL in MCX and the interested bidders include Kotak Group and Reliance Capital. However, the st...

Jul82014 by wealth18.comNo Comments

13 things to know before filing Income Tax returns

Taxation

Last date for filing returns in 31-July. Here are some tips & important points you should take care while filing your income tax returns. (Link to all articles below open in New Window, so you can click directly without leaving this post) 1) E filing of income tax return is mandatory – if your total Income is Rs 5 lakhs or more, you need to file Income Tax return online / electronically. Digital signature is not required to file e-returns. Read this post to see when efiling is mandatory 2) Enter Email Id and Mobile number - Now, you need to mention your email id and mobile number compulsory while filing IT return. Read more details on this 3) Any Refund mandatory via ECS – So if you are claiming any refund, you need to provide bank Account number for direct credi...

Jul82014 by wealth18.comNo Comments

Mobile Number & EMAIL ID must for filing online tax returns : CBDT

Taxation

The Central Board of Direct Taxes (CBDT) has made mobile number and email address mandatory for filing income-tax returns. This additonal contact details is expected to improve efficiency and add an extra layer of security. "A valid email ID and mobile number has to be registered/updated on the e-filing website of the Income Tax Department so that drect communication with taxpayer can be possible," the CBDT said in a release issued. A one-time password will be sent to the email address and mobile phone to be entered by the taxpayer after logging into his account for authentication. The password will be valid for 24 hours. One mobile number or email id can be used for 10 accounts as primary contact. This will help file returns of family members who may/may not have a personal e-mail id Ho...

Jul82014 by wealth18.comNo Comments

eFiling of Income Tax returns ITR is must – For Whom ?

Taxation

e-Filing of Income Tax Returns/Forms is mandatory for : If Total income is Rs 5 Lakhs and above (from AY 2013-14 and subsequent Assessment Years.) A resident who has signing authority in any account located outside India. A person who claims relief under sections 90 or 90A or deduction under section 91. Individual/ HUF, being resident, having assets located outside India from AY 2012-13 and subsequent Assessment Years. READ - 13 things to know before filing Income Tax Returns this July ----------- All companies. Firm (to whom provisions of section 44AB is not applicable), AOP, BOI, Artificial Juridical Person , Co-operative Society and Local Authority required to file ITR 5 from AY 2014-15 and subsequent Assessment Years. An assessee required to funish...