July, 2015 - Wealth18.com

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...