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Apr22020 by wealth18.comNo Comments

COVID 19 – EPF Withdrawal rules relaxed – can withdraw 75%

To help employees in this COVID-19 crisis, Govt has relaxed the rules for PF withdrawal. EPFO subscribers can withdraw 75% of their savings or up to a maximum of 3 months' basic pay and dearness allowance from their PF account – whichever is lower. In general circumstances, the EPFO allows account holders to take “non-refundable advance" or withdraw for specified purposes only such as a medical emergency, marriage, higher education or purchase of a house. No certificate or documents are to be submitted by a member or his/her employer for availing the benefit. If you intend to withdraw money from your PF, then you can do it through: Online: Like claim for all other types of advances, the claim for this advance also can be filed online if your UAN is validated with Aadhaar and KYC of Bank ac...

Apr12020 by wealth18.comNo Comments

[How to] check PF balance online in India (5 ways – UAN, SMS, Missed Call, App)

Featured, How to Series, PF

EPFO (Employees Provident Fund Organisation) provides option to check you PF balance online. Once you enter your details, you will get your balance via SMS on your mobile number. Whether you want to check your PF balance for Delhi, Gurgaon, Noida, Hyderabad, Bangalore, Chennai, Gujarat, Mumbai, Andhra pradesh, Pune, Karnataka, Kolkata etc, you can use the steps below to get your balance via SMS. Please note that some big organizations have their own PF trust and they do not keep money with EPFO. In such cases, you cannot check the balance online by using EPFO portal. You need to contact your HR to know your PF balance. How much money goes in your PF Account? Employee Contribution – 12% of your Basic Employer Contribution – 12% of your Basic ( Out of this 8.33%...

Feb282020 by wealth18.comNo Comments

SBI Cards IPO – Analysis, Details, Review, Opening Date, Issue Price, Allotment Status, Listing

Stocks

SBI Cards IPO to open on March 2, 2020 The long-awaited initial public offering of SBI Cards and Payment Services, a subsidiary of the country's largest lender State Bank of India, is set to open for subscription. It will be the largest IPO after GIC IPO in 2017. State Bank of India owns 74% stake in the company and the rest 26% is held by CA Rover Holdings, an affiliate of the Carlyle Group. Issue Details of SBI Cards IPO: IPO Opens on 2 March 2020 IPO Closes on 5 March 2020 Issue Price band Rs 750 - Rs 755 Any Discount NA Issue Size Rs 10,354 crore Minimum Investment 19 shares Registrar Link Intime Book Running Lead Managers Axis, BoA, HSBC, Nomura, SBI Cap Listing BSE/NSE Download SBI Cards Red Herring Prospectus SBI Cards IPO Grey market Premium : 28...

Feb42020 by wealth18.comNo Comments

CBDT clarifies – 10% TDS applicable only on dividend payment by mutual funds

News, Taxation

CBDT has issued a clarification that the requirement of deducting TDS @ 10% will ONLY apply for dividend payments by mutual funds. No tax shall be required to be deducted by the mutual fund on income which is in the nature of capital gains. There was lot of confusion on the budget announcement day if the TDS is applicable on both dividend and Capital Gains. The Finance Bill, 2020, has proposed the insertion of a new section — 194K — in the Income Tax Act, which states "any person responsible for paying income arising from units of mutual fund or a specified company must deduct tax at the rate of ten percent of such income". Experts were of the opinion that the term "Income" is very broad and open to interpretation. But CBDT has now clarified that TDS is only applicable for dividend in...

Feb42020 by wealth18.comNo Comments

Indian Budget 2020 Highlights – New Income Tax slabs

Taxation

In the Union Budget 2020 that was presented by Finance Monster on 1st Feb 2020, a number of tax changes has been proposed: New Tax Slab rates (Optional) While there is NO change in the existing Income-tax slab rates for individuals, a new tax regime has been proposed under which individuals would be taxed at reduced tax rates if they forego exemptions and deductions. The new tax regime will be Old Rate Slab Rates Rates of Tax (New rate NIL upto Rs 2.5 lakh NIL 5% 2.5 lakh - 5 lakh 5% 20% 5 lakh - 7.5 lakh 10% 7.5 lakh - 10 lakh 15% 30% 10 lakh - 12.5 lakh 20% 12.5 lakh - 15 lakh 25% above 15 lakh 30% The new tax regime is optional. Individuals who opt to claim available exemptions/ deductions would be taxed as per the existing rates. But if you want to opt for the new ...

Jan32020 by wealth18.comNo Comments

9.10% Shriram Transport Finance (STFC) NCD Jan 2020 – Details & Review

Bonds

Shriram Transport Finance Company Ltd (STFC) is looking to raise up to Rs 1,000 crore through secured redeemable non-convertible debentures (NCD) offering interest of 8.52% - 9.1% for different maturities. This is the 2nd NCD issue for 2020 after Tata Capital Housing Finance NCD issue is also open now. Key Features for Shriram Transport Finance Company NCD Issue Open Date Jan 6, 2020 Issue Closing Date Jan 22, 2020 Type of Instrument Secured redeemable NCDs Size of issue Rs 1000 crores (Base size: Rs 200 crores) Minimum Investment 10 NCD (Rs 1000 per NCD) Max Investment Listing BSE, NSE Credit Rating CARE AA+ /Stable, IND AA+ /Stable, CARE AA+ /Stable Interest Monthly and Annual, Cumulative Allocation method First Come First Serve Basis NRI allowed? Not eligib...

Jan32020 by wealth18.comNo Comments

8.70% Tata Capital Housing Finance NCD Jan 2020 – Details & Review

Bonds

Tata Capital Housing Finance, a subsidiary of Tata Capital, is looking to raise up to Rs 2,000 crore through non-convertible debentures (NCD) offering interest of 8% - 8.7% for different maturities. Shriram Transport Finance Company has also open its NCD offer with interest upto 9.1%. Read the review. Key Features for Tata Capital Housing Finance NCD Issue Open Date Jan 7, 2020 Issue Closing Date Jan 17, 2020 Type of Instrument Secured redeemable NCDs and Unsecured redeemable NCDs Size of issue Rs 2000 crores (Base size: Rs 500 crores) Minimum Investment 10 NCD (Rs 1000 per NCD) Max Investment Listing BSE, NSE Credit Rating CRISIL AAA/ Stable, ICRA AAA/ stable Interest Monthly and Annual Allocation method First Come First Serve Basis NRI allowed? Not eligible ...

Dec302019 by wealth18.comNo Comments

PAN-Aadhaar linking deadline extended to 31 March, 2020

Featured, News

Last date for linking PAN and Aadhaar has been extended Relief for people who have not yet linked their PAN with Aadhaar. The due date for linking PAN with Aadhaar has now been extended to 31st March 2020. This is the 9th time when CBDT has extended the deadline for individuals to link their PAN and Aadhaar. See below the twitter update from Income Tax India: How to Link your PAN with AAdhaar? If you are registered on Income Tax efiling website Login to eFiling Website --> Go to "Profile Setting" --> Link Aadhaar https://www.incometaxindiaefiling.gov.in/home 2. If you are not registered on Income Tax efiling website: Fine the "Link Aadhar" link on the home page of Income Tax efiling website (left side column) If your name on PAN and Aadhar doesnot match but da...

Dec222019 by wealth18.comNo Comments

Best Debt Funds for Investments in 2020 – Top Performing

Mutual Funds

If you are looking for investments for short term or less risky investments, you can look at various funds that invest in debt instruments. There are various categories of Debt funds and you should select one / combination based on your risk profile, time horizon etc. Different type of funds available are: Based on Duration (Low, Short, Medium, Medium to Long, Long) Dynamic Bond Gilt, Corporate, Credit Risk Ultra Short, Liquid and Money Market Debt Funds Historical Returns 1 year 2 year 3 year 5 year Annualised Returns (%) ABSL Low Duration 9.30% 8.53% 8.16% 8.58% Low Duration Axis Treasury Advantage 9.27% 8.47% 8.07% 8.36% Kotak Low Duration 9.23% 8.58% 8.41% 9.05% IDFC Bond - Short term 10.50% 8.48% 7.89% 8.41% Short Duration Ko...

Dec222019 by wealth18.comNo Comments

2020 Multibaggers – Top Large Cap, Mid Cap & Small Cap Stock Recommendations (for Medium to Long term)

Featured, Stocks

See below the Brokerage recommendations on Best Stocks to buy in India for profits in 2020 2019 has been a year of large caps and experts believe that we can see a good rally in midcap and small cap quality stocks in 2020. In Dec, various brokerage houses has provided their recommendations for stock picking for 2020. I have tried to consolidate the recommendations for your benefit: Jan 2 2020 - 15 Stocks where brokerages initiated coverage (link) Brokerage Stock Target CMP Upside Anand Rathi Dixon Technologies 5822 3913 49% KR Choksey Bandhan Bank: 667 499 34% Haitong Securities Finolex Industries 700 550 27% Reliance Securities V-Mart Retail 2060 1664 24% Jefferies IndiaMart 2500 2047 22% Anand Rathi Varun Beverages 862 707 22% Spark Capital Polycab India 1173 977 ...