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Apr232014 by wealth18.comNo Comments

Can NRIs invest in Public Provident Fund (PPF) in India?

NRI

Public Provident Fund (PPF) is one the best investment options in India which provides risk free & tax free returns (8-10%). But, Can NRIs take benefit of this investment option? Let’s discuss in detail. 1. I am an NRI. Can I open NEW PPF Account? No, an NRI can’t open a new PPF Account in India. However, he can maintain the existing PPF Account opened when he/she was resident. 2. I opened PPF account when I was in India but now I am working outside India. Can I continue with this PPF account? Yes. If the PPF account was opened when you were resident, then you can continue with this PPF account even after you become an NRI. Till 2003, NRIs were not allowed to contribute amount into existing PPF accounts opened when they were resident. However, in 2003, government allowed NRIs to con...

Apr222014 by wealth18.comNo Comments

Earn more with DIRECT plan of Mutual Funds

Mutual Funds

From Jan 2013, Direct Plan for Mutual funds are in the market. In the first month, people were sceptical if there is going to be much difference in returns on Standard Plan & Direct Plans of Mutual Funds. Here is the NAV Comparison of some MF under Standard Plan & DIRECT Plan over last 1 year So, fromt the table you can see that you can see the Savings made by DIRECT Plan of Funds over last 1 year. A. What is Direct Plan of Mutual Funds? From 01-Jan-2013, Investors have the option of investment in the Direct Plan option of mutual funds. DIRECT Plan STANDARD Plan you invest directly with Mutual Fund Company (AMC you invest through mutual fund agent (individual / bank / online) The DIRECT PLAN of mutual fund scheme has lower expense ratio as compare to STANDARD Plan as...

Apr172014 by wealth18.comNo Comments

Shriram City Union Finance NCD April 2014 – Details & Review

Bonds

Shriram City Union Finance has opened its public issue of NCDs on 16th April 2014 and it closes on 16-May-2014 ( Closed early on 21-April-2014) Type of Instruments – Secured Redeemable NCDs Size of Issue - Rs 200 crores Listing – Proposed to be listed on BSE & NSE Credit Rating - AA by CARE Investment option – Annually / Cumulative Interest for 3 yrs, 4 yrs, 5 yrs About Company Shriram City Union Finance Limited (SCUF) is a part of the Chennai based Shriram group of companies and the sister concern of Shriram Transport Finance. They are entering the debt market second time. SCUF is incorporated in 1986 and is registered with the Reserve Bank of India as a deposit-taking non-banking finance company (NBFC) with its presence in gold loans, small business finance loans, auto loans, two-...

Apr172014 by wealth18.comNo Comments

FIIs raise holdings in mid-cap companies in March 2014 quarter

Stocks

Foreign institutional investors (FIIs) have traditionally remained skeptical about mid-caps because of corporate governance concerns and lack of liquidity in the stocks, but they have increased their stakes in the counters in the March 2014 quarter. Brokers said the difference in valuations between large-caps and midcaps had widened significantly in January, resulting to FIIs' interest in them. The list shows these investors bought shares of companies with strong growth prospects or cheap valuations. Increase in FII Holdings Decrease in FII Holdings Source: ET

Apr142014 by wealth18.comNo Comments

Should NRI file Income Tax returns in India ?

NRI

If you are an NRI, are wondering whether you need to file Income Tax returns in India, this post will help you . Any Income which accrue or arise in India, wil be taxable in India. For e.g common income which are taxable in India are - Bank Interest, Fixed deposit Interest, Profilt / Loss from Shares, Mutual Funds, Bonds, Rental Income, Profit / Loss from Sale of Property in India etc. When an NRI should File IT Returns in India? As an NRI, you should file your income tax returns in India, if you meet any of the following criteria – 1) Your taxable income in India during the year was above the basic exemption limit of Rs 2 lakh OR 2) You have earned short-term or long-term capital gains from sale of any investments or assets, even if the gains are less than the basic exemption limit....

Apr142014 by wealth18.comNo Comments

Bank FD – Facts you must know before you invest

Banking

Bank Fixed Deposits are one of the most popular investment avenue for risk averse Indian investors. With benefits such as -decent interest rates (9 – 10%), capital safety, bank reputation, accessibility etc., it may seem to be good option. However, a prudent investor should carefully consider all the aspects before taking the investment decision. 1) Advertised Bank FD yield may be misleading In recent times, many banks in their advertisement show the Annualised yield from FD, which is misleading. For e.g in below SBI advertisement, you can see that SBI is advertising that you are getting annualised yield of 14.35% over 10 years. You may think it is better option as compared to PPF (giving 9%) or some Mutual funds who are giving 11-13% return. Well, you may be incorrect in thinking ...

Apr102014 by wealth18.comNo Comments

Man Industries up 17% on Rs 700 crore order

Stocks

Shares of Man Industries surged nearly 17 % intraday after the company announced it has bagged orders worth Rs 700 crore from domestic and international customers for supply of large diameter pipes for oil & gas as well as water sector projects. The company's order book including the above orders stands at Rs 1,200 crore, the company said in a filing to stock exchanges. Man Industries has outstanding bids over $1 billion at various stages of evaluation for several other oil, gas and water projects in India and abroad. MAN Industries (India) is the flagship company of Man Group. The main business line of Man Industries includes manufacturing & coating of large diameter carbon steel pipes and real estate. MAN Industries (India)'s consolidated net profit dropped 84.3% to Rs 2.41 c...

Apr102014 by wealth18.comNo Comments

Piramal Enterprises zoom 8% – sold 11% stake in Vodafone India

Stocks

The Piramal group flagship Piramal Enterprises has sold its 11% stake to Vodafone for Rs 8900 crore. The flagship company picked up 11% stake in two tranches, in August 2011 and February 2012, paying a total of Rs 5864 crore or Rs 1290 per share. Billionaire investor Ajay Piramal has sold his stake in British telecom giant Vodafone India, reaping a windfall of 50% return in just two years. The Piramal Group had earlier anticipated it would exit through an initial public offer of Vodafone India shares. The Piramal Group had always maintained Vodafone for it was a financial parking of resources from its deal with Abbott. In September 2010, the group sold its profit making India pharmaceutical business putting around Rs 10,000 crore in its coffers, net of tax and debt repayment requirements...

Apr102014 by wealth18.comNo Comments

Rakesh Jhunjhunwala hikes stake in Escorts, Rallis

Stocks

Rakesh Jhunjhunwala has increased its investment in Escorts & Rallis India. ESCORTS - His stake in Escorts has gone up to 5.47 per cent from 4.98 per cent earlier. Last August, Jhunjhunwala had bought 6,21,789 shares of Escorts through open market transaction. The shares were purchased on an average price of Rs 88.23 valuing the transaction at Rs 5.48 crore. Escorts reported a net profit of Rs 45.55 crore in the quarter ended December 2013 as compared to a net profit of Rs 28.13 crore in the corresponding quarter a year ago. At 12:20 p.m., Escorts was at Rs 131.60, up 3.18 per cent, on the BSE. It touched a high of Rs 133.05 and a low of Rs 128.50 intraday. Total traded volume is at 7.16 lakh shares against two-week average of 4.97 lakh shares. Rallis India - Jhunjhunwala has also ...

Apr92014 by wealth18.comNo Comments

[How to] pay LIC premium online – with & without Registration

How to Series

Are you still lining up in long queues to make the LIC premium payment ? Are you not using the online feature to make the LIC Premium payment. In this post, I will explain the steps to make the LIC premium payment online. You can pay LIC premium online if you are registered user on LIC Portal or without any registration - (LIC has started this new feature) A. For making payment after Registration on LIC Portal Registration on LIC portal is simple. Just follow the 2 steps mentioned in my earlier post - How to register on LIC Portal https://www.licindia.in/online_payment.htm Once you logon to LIC portal, you will see the “Pay Premium online” link on right hand side. Click on the ‘Pay Premium Online” link and you will see a list of enrolled policies. Select the policies for w...