2017 - Wealth18.com

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...

Jan192017 by wealth18.comNo Comments

CPSE ETF Jan 2017 Details & Review – Should you invest?

Mutual Funds

You may have been excited to invest by looking at Reliance Mutual Fund's new ad - Invest in 10 Maharatnas & Navratnas at 5 % discount! This advertisement is for further fund offer (FFO) of CPSE (Central Public Sector Enterprises) ETF (exchange traded fund). Issue Open : Jan 18 23017 Issue closes: Jan 20 2017 Discount: As part of the FFO, an upfront discount of 5% is being offered to all category of investors. What is CPSE ETF? CPSE ETF is an exchange traded fund based on central public sector enterprises (CPSE) index. It is managed by Reliance Mutual Fund and this will be the second CPSE ETF (the first CPSE ETF was launched in March 2014). The fund aims to provide investors the opportunity to invest in a diversified basket of public sector companies and benefit from the growt...

Jan172017 by wealth18.comNo Comments

9.25% Muthoot Finance NCD Issue Jan 2017 – Details & Review

Bonds

Muthoot Finance has opened its public issue of NCDs on 17th Jan 2017. This NCD issue is offering yield upto 9.25% and have 11 different investment options. Latest NCD issue of Reliance Home Finance (22nd Dec 2016) was over-subscribed 3 times the issue size on day one itself. NCD issue of SREI Equipment finance was subscribed in 4 days only. In this post, I am trying to put details around how good this Muthoot Finance NCD is ? What are the postive and negative factors of Muthoot Finance NCD? Who should invest in Muthoot Finance NCD? Key Features of Muthoot Finance NCD NCD Issue Open: 17-Jan-2017 NCD Issue Closing date: 17-Feb- 2017 (but expected to subscribe early) Type of Instrument: Secured redeemable non-convertible debentures (NCD) for 18-60 months, Unsecured for 96 months....

Jan162017 by wealth18.comNo Comments

BSE IPO Details & Review – Price Band, Issue Price, Opening date

Stocks

BSE Limited is the owner and operator of BSE Exchange (Bombay Stock Exchange), India largest stock exchange by number of companies listed. Issue Details IPO Open : 23 Jan to 25 Jan 2017 Issue Price band: Rs 800 - 850 Issue Size: approx Rs 1311 crore Market lot : 17 Max Shares for Retail - 221 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 company will not receive any proceeds of the offer and all the proceeds of the offer will go to the selling shareholders in the proportion of the equity shares offered by them The objects of the offer (OFS) are: 1. To achieve...

Jan162017 by wealth18.comNo Comments

How NRIs can exchange old Rs 500 / 1000 notes or convert / deposit them?

News

Latest Update: RBI has extended the facility for NRI to deposit old notes at designated RBI offices by June 30 2017. Under new facility, NRI can carry upto Rs 25000 (as per relevant FEMA regulation) via declaring them to customs and deposit it into RBI offices at in Mumbai, New Delhi, Chennai, Kolkata, and Nagpur. NRI travelling to India should go through the "red channel" at the airport, fill one page declaration form. A stamped document will be issued by Customs detailing the number of notes, date etc. Documents required to be submitted at RBI office: Stamped document from Customs Passport & 1 copy ID - Aadhar, PAN Declaration that the person has not used exchange facility earlier Copies of bank statement to proof that notes were not deposited earlier. The pr...

Jan152017 by wealth18.comNo Comments

How to open Airtel Payment Bank Account- 7.25% Savings Account Interest

Banking, News

Jan 2017 Airtel has now rolled out its payment bank across India. If you want to earn its attractive 7.25% interest, you can open an account. You donot need to submit any kind of documents as it is a paperless approach, using Aadhaar-based e-KYC. Anybody who is an Airtel user, having an Aadhaar card, PAN card and carrying a smartphone with Internet connectivity can become a member of Airtel’s Payments Bank and earn an interest of 7.25% p.a by depositing a maximum of Rs.1 lakh. Here are the steps for you to open an Airtel Payments Bank account: 1) Register at www.airtel.in/money Users Who are already a member of Airtel money and are using the wallet for making the transaction, only needs to update their app to use the payments bank facility. 2) Once you have opened the website, you n...

Jan42017 by wealth18.comNo Comments

Pradhan Mantri Awas Yojana 2017 – New Home Loan Intetest Subsidy

How to Series

Prime Minister Modi has now enhanced the scope and benefit under Pradhan Mantri Awas Yojana (PMAY) in 2017. This is done to boost the affordable housing and middle income category of the housing sector. The scheme was initially launched in June 2015 to provide ‘Housing for All by 2022’, offered beneficiaries an interest subsidy at the rate of 6.5% for a loan amount of up to Rs 6 lakh. Now the scope and benefit of this scheme is now enhanced as follows: In Urban Areas - Loans of up to Rs 9 lakh taken in 2017, will receive interest subvention of 4%. In Urban areas - Loans of up to Rs 12 lakh taken in 2017, will receive interest subvention of 3 %,” For rural areas - Loans of up to Rs 2 lakh taken in 2017, for new housing, or extension of housing in rural areas, will receive an...

Jan32017 by wealth18.comNo Comments

9.75% SREI Equipment Finance NCD Issue Jan 2017 – Details & Review

Bonds

SREI Equipment Finance will open its public issue of NCDs on 3rd Jan 2017 & it closes on 20th Jan 2017. This NCD issue is offering yield upto 9.7% and have 7 different investment options. Latest NCD issue of Reliance Home Finance (22nd Dec 2016) was over-subscribed 3 times the issue size on day one itself. In this post, I am trying to put details around how good this SREI Equipment Finance NCD is ? What are the postive and negative factors of SREI Equipment Finance NCD? Who should invest in SREI Equipment Finance NCD? Key Features of SREI Equipment Finance NCD NCD Issue Open: 3-Jan-2017 NCD Issue Closing date: 20-Jan 2017 Type of Instrument: Secured redeemable non-convertible debentures (NCD) for 3 & 5 years Size of Issue: Rs. 250 crores with a green-shoe option of an...

Jan22017 by wealth18.comNo Comments

BHIM App – How to Setup, Use, Transfer Money – Step by step guide

How to Series

Prime Minister Narendra Modi launched BHIM app on last Friday for promoting cashless transactions. BHIM (Bharat Interface for Money) is a mobile payment app and an aggregator for all UPI Based services offered by banks. BHIM is a digital payments solution app based on Unified Payments Interface (UPI) from the National Payments Corporation of India (NPCI). It is not a mobile wallet like Paytm or Mobikwik as you can send money to anyone with or without BHIM App as long as they have bank account. It uses UPI through which all the major banks in India are now connected. The transactions are instant, although there is a limit of Rs 10,000 per transaction. Also you can't make transaction worth more than Rs 20,000 in 24 hours. Step by Step guide to use BHIM Install the application from Pla...