Tuesday, June 11News That Matters

News

This Stock has rallied 600% in just one month

This Stock has rallied 600% in just one month

News, Stocks
This Stock has rallied 600% in just one month - Oct 2021. Yes, you read it right. This stock's IPO price was Rs 175 which listed on 1st Oct at Rs 475 (a premium of 171%). The stock was trading at Rs 1200 (22nd Oct 2021) giving return of 600% from IPO price.  The stock is Paras Defence and Space Technologies. Paras Defence came with IPO in Sep 2021. Paras Defence and Space Technologies is primarily engaged in designing, developing, manufacturing and testing of a wide range of defence and space engineering products and solutions. It is the sole Indian supplier of critical imaging components such as large size optics and diffractive gratings for space applications in India. It has developed strong R&D capabilities.  The company's top and bottom line has been pretty flat over the last 2-3...
Investment in Electric Vehicle themed Mutual Funds

Investment in Electric Vehicle themed Mutual Funds

Featured, Mutual Funds, News, Stocks
Electric vehicles is one of the major trends in the auto sector across the Globe.  India wants to achieve 100% electrification by 2030. EV market in India will be $200 billion. EV market will grow at CAGR of 36% till 2026. Few months back, I wrote an article around various stocks in Indian Market that will get benefit from electric vehicles growth. Read Article. Now, there are mutual funds being launched to focus on Electric Vehicles theme. Navi Electric Vehicles and Driving Technology Fund of Fund: This EV fund aim o track the performance of the STOXX Global Electric Vehicles & Driving Technology NET Index. This index comprises companies that are involved in the production of electric vehicles and assisted driving technologies. The index was launched in 2012. Currently, the STOX...
Cheque books and passbooks for seven banks are invalid

Cheque books and passbooks for seven banks are invalid

News
Do you know that the cheque books and passbooks of several banks that have been merged will become invalid. The merger of following banks came into effect on April 1, 2019 and April 1, 2020. Dena Bank Vijaya Bank Corporation Bank Andhra Bank Oriental Bank of Commerce United Bank Allahabad Bank PNB and Bank of Baroda had already informed that the existing cheque books of OBC, United Bank of India, Vijaya Bank, and Dena Bank will get discontinued from April 1, as they are valid only till March 31, 2021. Dena and Vijaya Bank were merged with Bank of Baroda with effect from April 1, 2019.  While, Oriental Bank of Commerce (OBC) and United Bank of India were merged with Punjab National Bank (PNB), followed by Syndicate Bank merger with Canara Bank, Andhra Bank and Corporatio...
PM CARES Fund – Full Details and How to Donate

PM CARES Fund – Full Details and How to Donate

News
In these unusual situations, everyone should be helping and supporting our country to deal with CoronaVirus pandemic. In addition to my donation to PM CARES fund, I want to encourage you all to donate. In this post, I am sharing details about PM CARES fund and how to donate. Please like, share and comment on this article on your Linkedin, FB etc to increase awareness. For every like, share and comment, I will donate Rs 1 to the PM CARES fund (upto Rs 25k). Don't worry, i will upload a receipt here :). Paytm and PhonePe are donating Rs 10 per donation made through them. Obviously, I cannot match them :), but doing my bit to increase awareness. Every Contribution Matters! What is PM Cares Fund The PM CARES fund was created on 28th March 2020 to support efforts against  CoronaViru...
RBI has announced 3 month relaxation / moratorium for Loans and Credit card dues

RBI has announced 3 month relaxation / moratorium for Loans and Credit card dues

News
On account of Covid-19 pandemic, RBI has announced measures to mitigate the burden of debt servicing. Business or individuals may face loss of income or disruption in the Cash Flows, so these measures will help those businesses /individuals. The RBI has allowed all lending institutions to offer a moratorium to borrowers on repayment of all term loans for a period of 3 months. This moratorium also covered credit card dues. The moratorium was for payment of all instalments falling due between March 1, 2020 and May 31, 2020. However, it was also stated that "Interest shall continue to accrue on the outstanding portion of the term loans during the moratorium." According to the RBI, the deferred instalments under the moratorium will include the following payments falling due from March 1, 2020 ...

80C Investments deadline extended – some points for clarification

News, Taxation
Government has announced several measures to minimise the impact of coronavirus on the taxpayers and investors. As part of these measures, the Finance Minister has: extended the deadline for submitting belated ITR filing deadline for FY2018-19 to June 30 2020 extended the Aadhaar-PAN linking deadline to June 30, 2020. extended the timelines for making 80C investments for FY 2019-2020 from 31Mar2020 to 30June2020. After these announcements, there is some confusion over the tax issues. Following are some details to clarify such points of confusion: 1. Has FY2019-20 itself been extend to June 30 and whether the income in Apr - June 2020 will be taxable within FY 2019-2020? NO. The FY2019-20 will close on March 31, 2020 as usual. Only income till March 31, 2020, will be considered for...
COVID 19 – EPF Withdrawal rules relaxed – can withdraw 75%

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

How to Series, News
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...

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...

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...

MakeMyTrip ICICI Bank Signature Credit Card – Review, Details, Offers, Benefits, Fees, How To Apply

ICICI Bank Credit Cards, News
Makemytrip ICICI Bank Signature Credit Card - gives extra rewards on flight and hotels bookings at Makemytrip.   ICICI Bank Makemytrip Signature Credit Card Benefits Joining Benefit Get Rs 1500 My Cash (100% usable MakeMyTrip cash in MyWallet - valid for one year) Complimentary MMTDOUBLEBACK (worth rs 1499) and MMTBLACK enrolment Lemon tree hotel vouchers worth Rs 2500 Ola Get every sixth ride complimentary with Ola  (worth Rs 150) Airtel International Roaming: Complimentary Airtel international roaming pack (for postpaid customers booking any international flight / hotel) Complimentary movie tickets every month under the Buy One Get One free offer through www.bookmyshow.com. Buy 1 ticket and get the other ticket free any day of the week (Max benefit Rs 300 per ...