February, 2017 - Wealth18.com

Feb152017 by wealth18.comNo Comments

Top Stock Picks for medium to long term investment

Stocks

Top Stock Picks for medium to long term investment by Prabhudas Liladher, Anand Rathi, Amisha Vora, Prabhudas Lilladher (Link) State Bank of India Jindal Steel & Power Thyrocare Parag Milk Siddharth Sedani, Anand Rathi (Link) LT Foods (Target Rs 79) Escorts (Target - Rs 450) Mahantesh Sabarad, SBI Cap Securities (Link) Consumer durable names or consumer financing companies and consumer discretionary companies Two wheeler space [xyz-ihs snippet="ad1"]

Feb122017 by wealth18.comNo Comments

Cost Inflation Index for Capital Gain – Base changed in Budget 2017

How to Series, Taxation

In Budget 2017, the base for Cost Inflation Index is changed. lets see what the change is and how it wil impact the investors. Currently, for cost inflation index, the base year is 1981. which means if you have any property acquired before 1981, you need to get the fair market value in 1981 and then apply indexation. Now, with the proposed changed, the base year will become 2001. This means, if you have any property acquired before 2001, you need to get the fair market value in 2001 and then apply indexation. In my other post, I gave details of indexation chart from 1981 till 2017 - Read this [xyz-ihs snippet="ad1"] What is the impact? Property Owners: Experts think that property owners would benefit from this revision in base year. This is because the inflation rate in property market ...

Feb112017 by wealth18.comNo Comments

CKYC – (Central Know Your Customer) mandatory for new Mutual fund investors

How to Series, Mutual Funds

From Feb 1, 2017, new investors in mutual funds will have to do CYKC (Central Know Your Customer) before investing. The CKYC will replace the existing KYC. What is CKYC? Central KYC Registry, or CKYCR, is the new central KYC process that will replace the multiple KYC process exists for various financial transactions, such as opening bank accounts, buying life insurance, and investing in mutual funds. The government has authorised the Central Registry of Securitisation and Asset Reconstruction and Security Interest of India (CERSAI) to manage the CKYC Registry process. What is the benefit by CKYC? CKYC is helpful to move investors to a single KYC platform. Before this, investors were required to complete KYC formalities with multiple agencies for various financial products. All the reco...

Feb82017 by wealth18.comNo Comments

[How to ] check and respond Income Tax Notice for large Cash deposit

Featured, How to Series, Taxation

Income Tax department has launched "Operation Clean Money / Swachh Dhan Abhiyan initiative., to investigate the large cash deposits made after demonitization. They are sending notices to more than 18 lakh people. If you have deposited large cash after demonitoization, the chances are that you will or may already have got a notice from Income Tax. You need to respond within 10 days of getting the message. If you have made large deposit, but have not received any message yet, please check your e-filing account to see if there is any notice for you. You can get notice: if your high-value transactions are not in line with your income profile. or may be because of technical error when a cash deposit was wrongly connected to your PAN. So it is important that you login to your efi...

Feb82017 by wealth18.comNo Comments

Income Tax Rates / Tax Slab for FY 2017-2018 (Budget) AY 2018-2019

Taxation

Cheers!!! In Budget 2017, the government has made some positive changes to tax slabs. - Read the Budget announcement for Personal Taxation Income Tax Slab / Rates applicable in India for Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of Individuals (BOI) Applicable for FY 2017-2018 (AY 2018-2019) For Individuals below 60 years age (including Woman Assessees) (born on or after 01-Apr-1957) upto Rs 2.50 Lakh NIL Rs 2.50 lakh - Rs 5 Lakh 5% on amount exceeding Rs 2.50 lakh Rs 5 lakh - 10 Lakh Rs 12500 + 20% of amount exceeding Rs 5 Lakh above Rs 10 akh Rs 112500 + 30% of amount exceeding Rs 10 lakh Income tax rebate u/s 87A is applicable for those who earns upto Rs 3.5 lacs. There is also a cess of 3% on total tax (not on tota...

Feb82017 by wealth18.comNo Comments

Genesis Colors IPO Details & Review – Opening date, Price Band, Opening Price

Stocks

Update:8-Feb - SEBI has approved Genesis Colors IPO Genesis Colors Limited is a leading platform for luxury & premium fashion brands in India. (Satya Paul, Armani, Hugo Boss , Jimmy Choo etc) Issue Details (not yet announced) IPO Open : Issue Price band: Issue Size: Market lot : Max Shares for Retail - IPO Issue Allocation Qualified institutional buyers (QIBs) - 50% per cent of the total issue size. Non-institutional investors (NIIs) - 15% per cent of the issue size. The retail quota limit in the issue = 35% Objective of the issue: The objects of the net proceeds from the issue are: 1. Purchase of shares of Genesis Luxury Fashion Private Limited (a subsidiary) from Splendor distribution limited(Rs 280 crores)and Sanjay Kapoor (Rs 37 crores) and...

Feb22017 by wealth18.comNo Comments

Key Highlights Summary of Indian Union Budget 2017-18

Taxation

Key Points & Highlights of Indian Union Budget 2017-18 - presented on 1st Feb 2017 Personal Taxation Income tax for individuals for Rs 2.5 lakh to Rs 5 lakh lowered to 5% Individuals having income less than Rs 5 lakh will have to file a return with a one page form. Surcharge of 10% on those with income of Rs 50L to Rs 1 cr Reduction in timelines for revising return of income and completing scrutiny assessments. Read full details on the impact on personal taxes in more details. Fiscal Information India’s FDI increases 36 per cent despite global degrowth of 5% India has become the 6th largest manufacturing country in the world up from 9th position previously Foreign Exchange Reserve with India stands at 361 Billion Dollars Total expenditure for 2017-18 at Rs 21,47...

Feb22017 by wealth18.comNo Comments

Personal Tax Impact – Indian Budget 2017-2018

Misc

Budget 2017 was unique in the sense that it changed two things the age-old tradition of being presented on the last day of February, this year it was done on 1st of Feb and for the first time in independent India, the Railway Budget was combined with the general Budget. Key Personal Taxation Change 1. Tax Slab changes The rate of income tax is proposed to be reduced to 5% (from 10%) for income between INR 2.5 to INR 5 lakhs. This is likely to bring tax saving of at least INR 12,875 for all taxpayers with an income exceeding INR 5 lakhs. Other tax slab and rates remain unchanged. TOTAL Income Proposed Tax (AY 2018-19) Existing tax AY 2017-18) upto Rs 2.5 lakhs Nil Nil Rs 2.5 - 5 lakhs 5% 10% Rs 5 - 10 Lakh 20% 20% above Rs 10 lakh 30% 30% 2. Surcharge A surcharge of 1...