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Mar272014 by wealth18.comNo Comments

List of banks registered with TRACES for providing view of Tax Credit Statement (Form 26AS)

Taxation

See my previous Post on - How to check Form 26AS (Tax credit Statement) List of banks registered with TRACES for providing view of Tax Credit Statement (Form 26AS) are as below 1. Allahabad Bank 2. Andhra Bank 3. Axis Bank Limited 4. Bank of Baroda 5. Bank of India 6. Bank of Maharashtra 7. Canara Bank 8. Central Bank of India 9. Citibank N.A. 10. City Union Bank Limited 11. Corporation Bank 12. Dena Bank 13. HDFC Bank Limited 14. ICICI Bank Limited 15. IDBI Bank Limited 16. Indian Overseas Bank 17. Indian Bank 18. Karnataka Bank Limited 19. Kotak Mahindra Bank Limited 20. Oriental Bank of Commerce 21. Punjab National Bank 22. State Bank of Bikaner & Jaipur 23. State Bank of Hyderabad 24. State B...

Mar262014 by wealth18.comNo Comments

5 most Expensive stocks are giving Best Returns

Stocks

Many people love to trade in penny stocks as the amount required is low. But do you know that India's 5 most expensive stocks are best performing stocks over 1,3 & 5 years time horizon. Just comparing Stock price is not parameter to determine whether one stock is better than other. Stock priced at Rs 1000 may be better than stock valued at Rs 50. You need to see the other parameters to determine how attractively priced a particular stock is - PE ratio (Price Earning Ratio). Most Expensive Stocks & their Returns Most Expensive Stocks CMP PE Ratio 1yr 3yr 5yr MRF 22301 11.54 92% 245% 1224% Bosch 10067 37.14 14% 69% 244% Page Industries 6623 50.64 102% 361% 1771% Eicher Motors 5748 54.02 116% 387% 2563% Shree Cements 5088 22.05 26% 172% 730% Returns calcu...

Mar252014 by wealth18.comNo Comments

Withdraw money from ATM without Card / Bank Account

News

Yes, you read it right.. You can now withdraw money from ATM even if you DONOT have Debit card / ATM card or not even Bank Account. On Monday, Bank of India became the first PSU Bank to allow withdrawal of funds to individuals from its ATMs without an account in the bank. The Bank launched a domestic remittance service called 'Instant money transfer (IMT)' that allows cardless cash withdrawal from it select ATMs which are tuned for this facility. Under this facility, a Bank of India customer can send money to anyone using regular Bank of India ATMs or through Internet banking, by using the receiver’s mobile number. How will it work? BoI cutstomer will have to provide the reeiver's mobile number, a sender code, and the amount through a text message or through Internet banking or ATM. ...

Mar232014 by wealth18.comNo Comments

Federal Bank – Foreign investment limit raised to 74%

Stocks

Federal Bank shares up after RBI allowed Foreign investors to purchase stake in the private bank up to 74 %. RBI said that restrictions placed on the purchase of Federal Bank shares have been withdrawn with immediate effect. The restrictions were removed as government approved increasing foreign investment in Federal Bank from 49 % to 74 % for its paid up equity share capital. Foreign Investment include investments by Foreign Institutional Investors (FIIs)/Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs)/Foreign Direct Investment (FDI). The stock of Federal Bank closed at Rs 91.15 on the BSE. It hit a low of Rs 86.75 and a high of Rs 91.75 in the trade today.

Mar232014 by wealth18.comNo Comments

Trent shares up on announcing JV with Tesco

Stocks

UK Supermarket - Tesco said that following receipt of approval from the Indian Foreign Investment Promotion Board, it has entered into a deal with Trent Limited to form 50:50 joint venture with the operator of the Star Bazaar retail business, Trent Hypermarket Limited (THL). Tata Group firm, Trent Ltd shares rallied after the company formally announced 50:50 joint ventures with British retail giant Tesco to set up the very first foreign supermarket to enter the country's $500 billion pounds retail sector. The world's third-largest retailer, which since 2008 has had a franchise agreement to provide support to Star Bazaar, had made the application to India's FIPB in December. On completion of the transaction THL will operate 12 stores retailing a range of merchandise including food and ...

Mar202014 by wealth18.comNo Comments

Public Provident Fund Scheme (PPF Account) – Features, Tax benefits

PF

Public Provident Fund (PPF) is one of the safest, long term investment options with tax benefits. This scheme is managed by Government of India. Why should you invest in PPF Account? Safe investment – Government scheme Long term – 15 years Returns approx 8.5 – 9% Tax free Interest & tax free maturity amount Deduction u/s 80C for investment made in PPF Amount in PPF account is also exempt from Wealth tax. PPF account is free from attachment by a court in respect of any debt or liability Tax benefits of PPF Account PPF falls into E-E-E (Exempt-Exempt-Exempt) mode of taxation. Annual investment into PPF account is eligible for deduction u/s 80C Interest earned on the PPF account every year is Tax FREE Maturity Amount is Tax FREE Amount in PPF account is also exempt fro...

Mar202014 by wealth18.comNo Comments

CPSE ETF Details & Should you invest in this PSU ETF?

Mutual Funds

What is CPSE ETF CPSE ETF (Central public sector enterprises ETF) is the new ETF launched by government which is comprised for 10 Bluechip PSU companies. Its objective is to raise money from public & invest in the shares of PSU companies which are part of this ETF. Through this ETF government is targeting to raise Rs 3000 crores. The NFO is closing on 21-Mar-2014. What is ETF ETFs are like mutual funds which can be bought and sold on stock exchanges. It is a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange What is CPSE Index comprised of? CPSE Index has been created by including companies that meet the following criteria: Owned 55% or more by the Government and listed on the NSE Large PSUs (those having m...

Mar142014 by wealth18.comNo Comments

No TDS on Service Tax portion of the bill

Taxation

As per new CBDT circular 01/2014 dated 13 Jan 2014, tax shall be deducted at source under Chapter XVII-B of the Income Tax Act on the Amount paid / payable without including Service Tax, if such service tax is shown separately. This is applicable for amount payable to a resident whatever be the terms of agreement / contract between payer & payee. No TDS is required to be deducted on Service tax portion of the bill. In 2008, CBDT had issued Circular No 4/2008 dated 28-4-2008 wherein it was clarified that TDS under Section 194-I should be deducted on rent paid / payable without including the service tax component. But it was not extended to other TDS provisions. Then in case of CIT(TDS) Jaipur Vs Rajasthan Urban Infrastructure (Income Tax Appeal No 235,222,238, 239 / 2011) dated 01-...

Mar122014 by wealth18.comNo Comments

Income Tax Rates / Tax Slab for AY 2014-2015 (FY 2013-2014)

Taxation

Income Tax Slab / Rates applicable in India for Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of Individuals (BOI): For Individuals below 60 years age (including Woman Assessees) upto Rs 2 Lakh NIL Rs 2 lakh - Rs 5 Lakh 10% on amount exceeding Rs 2 lakh Rs 5 lakh - 10 Lakh Rs 30000 + 20% of amount exceedng Rs 5 Lakh above Rs 10 akh Rs 130000 + 30% of amount exceeding Rs 10 lakh For Individuals aged 60 years and above but below 80 years (Senior Citizen) upto Rs 2.50 Lakh NIL Rs 2.50 lakh - Rs 5 Lakh 10% on amount exceeding Rs 2.50 lakh Rs 5 lakh - 10 Lakh Rs 25000 + 20% of amount exceedng Rs 5 Lakh above Rs 10 akh Rs 125000 + 30% of amount exceeding Rs 10 lakh For Individuals aged 80 yea...

Mar82014 by wealth18.comNo Comments

Merrill Lynch buys Financial Technologies shares worth RS 18 crore

Stocks

Over last 2 days (5th & 6th March 2014), Merill lynch Capital Market Espana has bought shares worth Rs 18 crore in Financial Technologies. As per the bulk deal information with Stock exchange, On Thursday, Merril Lynch acquired 2.64 lakh shares at Rs 370.07 per share for total value of ₹9.77 crore in an open market transaction. On Wednesday, it bought 2.35 lakh shares at Rs 348 per share worth Rs 8 crore in open market. Financial Technologies and Multi Commodity Exchange of India Ltd ( MCX) are under scanner of market regulator SEBI as well as other agencies for various violations. The commodity market regulator has declared Financial Technologies and Multi Commodity Exchange not fit and proper to operate a commodity exchange. The regulator also ordered Financial Technologies to bri...