2015 - Wealth18.com

Dec172015 by wealth18.comNo Comments

7.60% NHAI Tax Free Bonds (December 2015) – Details & Review

Bonds

National Highways Authority of India’s (NHAI) is offering tax-free secured redeemable non convertible bonds to raise Rs 1500 crore, with an option to retain oversubscription upto Rs 8663 crore. It is the fifth tax-free bond issue in the current financial year after NTPC, PFC, REC and IRFC. For retail investors, the annualised coupon offered is 7.39% , 7.60% for tenure of 10 and 15 years, respectively. Size of the Issue – NHAI is authorized to raise Rs. 24,000 crore from tax free bonds this financial year. The company has already raised Rs. 3,872 crore through private placement. Out of the remaining Rs. 20,128 crore, the company will raise Rs. 10,000 crore in this issue. The issue will be open during 17-Dec-2015 to 31-Dec-2015 17-Dec-2015 - As per latest exchange data, bids for 21.2 cror...

Oct302015 by wealth18.comNo Comments

Rakesh Jhunjhunwala buys 1.05% stake in Jet Airways

Stocks

Rakesh Jhunjhunwala today picked up 1.05 % stake in Jet Airways for Rs 50.52 crore @ Rs 422.76 per share. Jhunjhunwala's RARE Enterprises acquired 11,95,000 shares or 1.05 per cent stake in the private airline. The shares were bought at an average price of Rs 422.76, valuing the transaction at Rs 50.52 crore. Rakesh Jhunjhunwala seems upbeat on airline sector. Yesterday, he picked up a substantial number of shares in the Initial Public Offering (IPO) of InterGlobe Aviation, which runs low cost airline Indigo Last year, he had also purchased shares in another aviation company SpiceJet. Following the transaction, shares of Jet Airways today surged by as much as 11.28 % to close at Rs 445.40 apiece on the NSE. During the July-September quarter, Jet Airways posted a consolidated net p...

Sep182015 by wealth18.comNo Comments

EPFO launched mobile app, mobile based services for members

News, PF

Retirement fund body EPFO launched a mobile application and other phone-based services like accessing PF account details for its over 3.54 crore subscribers, 49.22 lakh pensioners and 6.1 lakh employers. EPFO launched three mobile based services for the Employees Provident Fund (EPF) members. Mobile Application, SMS-based UAN (Universal Account Number) Activation and Missed Call service A. Mobile Application Once the new mobile application from the EPFO website is downloaded, the members would be able to activate their UAN accounts from their mobile phones and access their accounts to view monthly credits and details available with EPFO. Similarly, EPF pensioners have been given the option to access their pension disbursement details through this mobile app. Likewise, the employ...

Jul312015 by wealth18.comNo Comments

Pradhan Mantri Sneha Bandhan Yojana (PMSBY) – Details and Review

Bonds

Modi Government has announced one more yojana - Pradhan Mantri Sneha Bandhan Yojana on the occasion of of Raksha Bandhan. Three specially designed gifts products are announced under the umbrella of “Pradhan Mantri Sneha Bandhan Yojana” and will be available from 1st August, 2015 in all the designated banks. What is Pradhan Mantri Sneha Bandhan Yojana? Pradhan Mantri Sneha Bandhan Yojana is an Insurance Linked Fixed Deposit Scheme which will reap interest at the prevailing rate. It comes in a form of Gift Card or Banker’s Cheque which you can buy from the designated banks and give it to your loved ones. The receiver can either visit to his/her existing bank account or open a new zero balance bank account to deposit the Gift Card or Banker’s Cheque. 1. Pradhan Mantri Sneha Bandhan Yojana g...

Jul302015 by wealth18.comNo Comments

Sebi cancels Sahara’s mutual fund licence – what to do now ?

News

July 28. SEBI has cancelled Sahara's Mutual fund licence, saying it's not a "fit and proper person" to carry out the business of mutual fund. Sebi on Tuesday said Sahara's fund management licence would stand cancelled after 60 days from the date of the order. It has directed Sahara AMC: not to take any new subscription from the investors including existing investors in systematic investment plans and not to levy any penalties on the investors for not depositing the installments. to transfer its activities to a new sponsor and a Sebi-approved AMC at the earliest. In the event of failure of Sahara MF to complete the process of transition within a period of 5 months from the date of this order, then Sahara MF should compulsorily redeem the units allotted to its investors and credit t...

Jul272015 by wealth18.comNo Comments

Motilal Oswal Value Index (MOVI) Pack Plan – Details and Review

Mutual Funds

Motilal Oswal Value Index (MOVI) Pack Plan is a Systematic Transfer Plan from Motilal Oswal MOSt Ultra Short Term Bond Fund and Motilal Oswal MOSt 10 Year Gilt Fund to Motilal Oswal MOSt Focused 25 Fund, Motilal Oswal MOSt Focused Midcap 30 Fund and Motilal Oswal MOSt Focused Multicap 35 Fund The transfers will be enabled in the reverse as well. The plan enables allocation between debt and equity asset classes based on the Motilal Oswal Value Index (MOVI) levels. The aim is to take allocation decision based on the equity market valuations and not just market levels. The MOVI Index is calculated taking into account Price to Earnings, Price to Book and Dividend Yield of the CNX Nifty Index. NIFTY MOVI looks at the market levels in conjunction with the fundamentals of ...

Jul272015 by wealth18.comNo Comments

CBDT notifies Cost Inflation Index for FY 2015-16 (AY 2016-2017)

News

CBDT notifies Cost Inflation Index for Financial Year 2015-16 (AY 2016-2017) - 1081 For details on Cost inflation Index for other years (1981 to 2015) , please click on this link GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES Notification No. 60/2015 New Delhi, Dated- 24th July, 2015 S.O. (E) – In exercise of the powers conferred by clause(v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, published in the Gazette of India, Extraordinary vide number S.O. 709(E), dated the 20th August 1998 namely : – 2. In the said ...

Jul12015 by wealth18.comNo Comments

New simpler ITR forms for AY 2015-2016 (FY 2014-2015) and last date extended

News, Taxation

The Finance Ministry on Sunday came out with new three-page simpler income tax return (ITR) forms and also extended the last date of filing to August 31. Download New ITR Forms for AY 15-16 (FY 14-15) - ITR 1, ITR 2, ITR2A, & IYT 4S https://www.incometaxindia.gov.in/Pages/downloads/income-tax-return.aspx https://incometaxindiaefiling.gov.in/ ------- (Right hand side - "Download" section) Which ITR form to use ? ITR1 (Sahaj) Only for Individual This form can be used if you have; Salary or Pension Income Income from one house property (excluding cases where loss is brought forward from previous years) Income from other sources like FD/Shares/NSC etc., No business income / no Capital gains No asset in foreign country or no income from a source outside India Agricultur...

Jun302015 by wealth18.comNo Comments

Income Tax Rates / Tax Slab for FY 2014-2015 (AY 2015-2016)

Taxation

Income Tax Slab / Rates applicable in India for Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of Individuals (BOI): For Individuals below 60 years age (including Woman Assessees) upto Rs 2.50 Lakh NIL Rs 2.50 lakh - Rs 5 Lakh 10% on amount exceeding Rs 2.50 lakh Rs 5 lakh - 10 Lakh Rs 25000 + 20% of amount exceeding Rs 5 Lakh above Rs 10 akh Rs 125000 + 30% of amount exceeding Rs 10 lakh For Individuals aged 60 years and above but below 80 years (Senior Citizen) upto Rs 3 Lakh NIL Rs 3 lakh - Rs 5 Lakh 10% on amount exceeding Rs 3 lakh Rs 5 lakh - 10 Lakh Rs 20000 + 20% of amount exceeding Rs 5 Lakh above Rs 10 Lakh Rs 120000 + 30% of amount exceeding Rs 10 lakh For Individuals aged 80 years and ab...

Jun252015 by wealth18.comNo Comments

RBI extends deadline for exchanging pre-2005 currency notes by six months to Dec 31

News

The Reserve Bank of India has again extended the date for the public to exchange their pre-2005 banknotes till December 31 this year. This means, all such notes will remain legal till that time. The central bank has urged citizens to deposit the old designed currency notes in their bank accounts or exchange them at a bank branch convenient to them. The move, introduced last December, is actually aimed at checking counterfeit notes in the system as those old soiled notes were not equipped with all modern security features. RBI stated that the notes could be exchanged for their full value. It will continue to monitor and review the process so that the public is not inconvenienced in any manner. See - how to check if the note is pre-2005