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May152014 by wealth18.comNo Comments

Send Money from UAE to India instantly – Emirates DirectRemit

NRI

UAE-based bank 'Emirates NBD' has launched 'DirectRemit' service which would enable customers to speedily transfer money to other banks in India. A first-of-its-kind remittance service, it would also allow Non-Resident Indian (NRI) customers to remit money to any HDFC Bank Account in India in just 60 seconds. Money Transfer time Emirates NBD said with the launch of this service, customers can transfer money to other banks in India with their remittance being processed within an hour. Delivery to HDFC Bank is immediate, Mon-Sat 7am-8pm UAE time. All other bank credits will take 60 minutes, Mon-Fri 7:30am-4:30pm UAE time, Sat 7:30am-10:30pm UAE time. Charges Transfers to HDFC Bank and ICICI Bank accounts in India - FREE Transfers to all other Indian banks - AED 10 According to...

May152014 by wealth18.comNo Comments

Now 10 year olds can open and operate bank account alone: RBI

News

No more piggy banks for little ones because now children above the age of 10 can open their own bank accounts and withdraw, transfer and deposit money all by themselves. Children older than 10 years will no longer need the help of their parents or guardians to open and operate a savings bank account. To boost financial inclusion, the Reserve Bank of India (RBI) said that banks were at liberty to allow minors above 10 years to independently open and operate savings bank accounts. As of now, banks allow minors to operate bank accounts only along with a parent or a guardian. All children and teenagers below the age of 18 are considered minors under current rules. RBI also allowed banks to offer additional facilities like internet banking, ATM, debit card and chequebook to a minor. However, ...

May142014 by wealth18.comNo Comments

12 midcap gems for your portfolio (returns 10 – 75%)

Stocks

12 midcap gems for your portfolio (returns 10 - 75%) Stock Taget Upside Recommened by IFGL Refractories 146 77% Sunidhi Sec BGR Energy 250 76% Way2Wealth Oberoi Realty 296 46% Karvy DB Corp 410 44% Motilal Oswal NIIT Tech 510 27% PrabhudasLiladhar Gulf Oil Corp 153 21% Dolat Cap Chambal Fertilisers 48 20% PrabhudasLiladhar Torrent Pharma 761 18% ShareKhan Kewal Kiran 1500 18% ShareKhan Paper Products 111 16% Aditya Birla Money HT Media 104 13% ICICIDirect Ajanta Pharma 1188 12% Firstcall Source - ET

May142014 by wealth18.comNo Comments

Santosh Garg – who bought Rs 2000 crore shares in one day – got SEBI notice

News

Santosh Kumar Garg, a resident of west Delhi, has purchased shares worth more than Rs 2,000 crore on Friday when markets scaled new heights. Securities and Exchange Board of India (Sebi) have issued a showcause notice to examine the transaction closely. The investor hadn't traded extensively on the markets before Friday. Garg, who bought select banking stocks, has been asked to explain the reasons behind the transactions SEBI is keeping a close watch on the market with its surveillance team looking to spot abnormal or suspicious trading patterns. Anything that stands out from routine trading patterns will come under the regulator's scrutiny and be investigated further to prevent any unscrupulous elements from destabilising the market. On Friday, the benchmark Sensex crossed the 23,000...

May132014 by wealth18.comNo Comments

Highest Celebrity Tax Payers in India

News

We have compiled these numbers based on news available in media regarding advance tax paid by these celebrities Rs Amitabh Bachhan 37 crores MS Dhoni 20 crores Akshay Kumar 18 crores Salman Khan 11 crores Shah Rukh Khan 10.5 crores Aamir Khan 8 crores Hrithik Roshan 7 crores Katrina Kaif 4.5 crores Kareena Kapoor Khan 4 crores Priyanka Chopra 2 crores

May132014 by wealth18.comNo Comments

Number of income tax payers in India

News

Do you know how many people pay Income Tax in India? How many people in India pay Income Taxes? Just less than 3% of total population !!! Unbelievable !!! In a population of 1.2 billion, there are just about 35 million taxpayers. In comparison - There are 138 million taxpayers in the United States. ( out of about 308 million people). So, Out of the total population, 45% are taxpayers. Out of these 3.5 Crore people, 89% pay taxes in the tax slab of 0 – 5 Lakh rupees, Only 1.3% of all tax payers have income about 20 Lakh! And, of these, there are only 42,800 persons (0.1%) who admitted to having a taxable income exceeding Rs 1 crore. I believe, Salaried class bears most of the tax burden as the Tax is deducted at source by employers. How do you feel about these numbers ??? Also Read -...

May102014 by wealth18.comNo Comments

12% SREI Infra Finance NCD May 2014 – Details & Review

Bonds

SREI Infrastructure Finance has opened its public issue of NCDs on 09 May 2014 and it closes on 9-Jun-2014 Type of Instruments – Secured Redeemable NCDs Size of Issue - Rs 150 crores Listing – Proposed to be listed on BSE Credit Rating - AA-/negative by CARE and AA by BRICKWORK Investment option – Monthly / Annually / Cumulative Interest for 3 yrs, 5 yrs About Company SREI is a Public Financial Institution (PFI). It is a RBI registered non deposit taking NBFC. The company provides financial services to its customers engaged in infrastructure development and construction, with particular focus on power, road, telecom, port, oil and gas and special economic zone (SEZ) sectors in India with a medium to long term perspective. Total income on a standalone basis for the period ended March 31...

May82014 by wealth18.comNo Comments

Which Income Tax Forms / ITR Forms to use for AY 2014-2015

Taxation

As Last date for filing Income tax returns is approaching (31-July), you must to looking into your financials to prepare returns. It is important to check in which ITR form you should file your IT return. You should check , which Income Tax return (ITR) Form is applicable for you ? Salaried employees will normally need to file their Income Tax returns in ITR 1 or ITR 2 (depending on the conditions below). So please read the specific conditions to determine whether you need to file your returns in ITR 1 or ITR 2 ITR 1 You can file return in ITR 1if you have Salary income If you have income from ONE house property (excluding cases where loss is brought forward from previous years.) if you have income from other sources (except income from lottery or from horse races) ...

May72014 by wealth18.comNo Comments

No Penalty charge on pre-payment of loans – RBI

News

Do you want to pre-pay your loan, but worried about the 1-2% pre-payment penalty charged by bank ? Now you should not worry about that as RBI has directed banks not to levy any penalty on individual borrowers for pre-paying floating loans. RBI said in a notification - "it is advised that banks will not be permitted to charge foreclosure charges or pre-payment penalties on all floating rate term loans sanctioned to individual borrowers, with immediate effect," RBI Circular - RBI/2013-14/582 DBOD. Dir.BC.No.110/13.03.00/2013-14 https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=8868&Mode=0 Some banks are charging pre-payment penalty of up to 2% of the outstanding loans. Two years ago, RBI had barred banks from levying foreclosure charges or pre-payment penalties on home...

May72014 by wealth18.comNo Comments

No penalty charges if minimum balance not kept in dormant bank account – RBI

News

Do you have old inoperative or dormant bank acount? Whether Bank is charging penalty for not keeping minimum balance? Now RBI has asked banks NOT to penalise account holders for not maintaining minimum balance in their inoperative accounts. In recent times, there have been cases where due to penalty charges in inoperative accounts, customers had negative balances. And when they went to close such accounts, they were asked to pay up. The latest RBI circular will avoid such situations. Banks cannot slap charges on customers for not maintaining the minimum balance in inoperative savings and current accounts — in which no transactions have been made for two years. Instead of levying penal charges for non-maintenance of minimum balance in ordinary savings bank accounts, banks should limit s...