Investeria Group

Investeria wishes you all a Wonderful and Prosperous New Year

So we have moved beyond 2008-09

Biggest Sensex crash since 2009, wipes out 7 lakh crore of Investor wealth

Global mayhem: Sensex crashes 1624 pts; Wipes Out 7 Lakh Crore of Investors Wealth Biggest Sensex Crash since 2009 sheds 1624.51 points or 5.94 percent to end the day at 25741.56. The Nifty looses 490.95 points or 5.92 percent to close at 7809 after hitting an intraday low of 7769.40. Monday's carnage wiped out more than Rs 7 lakh crore market capitalisation.Stocks shrunk to their…

FWD:

Economic Times

Business Standard
Ø Oz court revokes green nod for Adani’s $7-bn project

Ø India to be $5 trillion economy in 10 years

Ø PSU banks to raise $17 bn to meet funding needs: FM

Ø With crude at $50, oil companies fear deeper crisis than in the 1980s

Ø RBI to facilitate oil payments of $ 6.5 bn to Iran

Ø India's exports to Greece fall 15% on debt crisis: Govt

Ø Sebi asks cos to make more disclosures about pledged shares


Ø EPFO to hit stock markets on Thursday

Ø Cabinet approves hiving off BSNL tower unit

Ø Union Cabinet gives its nod to decentralise shipment of govt cargo

Ø India might import 1,000 tonnes of gold in FY16

Ø FSSAI trashes all-clear reports to Maggi from Goa, Mysore labs

Ø Star exits Balaji; sells 26% stake for Rs 108 cr

Ø Only 26% Indian companies have full- time chief compliance officers: survey

Business Line

Mint
Ø Govt defers India-EU investment agreement talks

Ø Tata Sons to acquire 2.18% in Titan

Ø Cabinet approves direct release of wages to MGNREGA workers

Ø BPCL draws up a roadmap to raise oil refining capacity

Ø Ramco Cements Q1 net up nearly three fold at Rs. 95-cr


Ø Airtel to go for basic ADR listing to woo US investors

Ø Siemens Q3 net profit jumps 12-fold to Rs168.26 crore

Ø India’s services PMI shows modest growth in July

Ø Tata Power looking at buying stressed assets: Cyrus Mistry

Ø India cancels EU trade talks over ban on GVK Biosciences drugs

Financial Express

Financial Chronicle
Ø India will be third largest economy: G P Hinduja

Ø FII inflows into equities turn positive in July

Ø Inflation, US Fed to decide RBI's next policy move: Brokerages

Ø Cognizant Technology revenue, profit beat estimates

Ø Tata Steel completes UK business move

Ø Marico Q1 net profit up 28% at Rs 238 crore


Ø RBI can cut rate if inflation stays below 6%: Rajan

Ø Sterling & Wilson eyes tapping solar power abroad

Ø Deepak Fertilisers seeks to move up the value chain

Ø Tata Chemicals Q1 net profit up 13% to Rs 153 cr

Ø Mozambique needs greater Indian investment in oil, gas sectors

Ø Bata to invest Rs 100 cr, sharpens digital focus

This is how stock markets work 😱

A little humour.....and a lesson! A very cold winter! It was autumn, and the Red Indians asked their New Chief if the winter was going to be cold or mild. Since he was a Red Indian chief in a modern society, he couldn't tell what the weather was going to be. Nevertheless, to be on the safe side, he replied to his Tribe that the wint…

just In: ECB Approves Funding Requested By Greek Central Bank On ELA For Greek Banks

Just in: SEBI Chairman: Sebi approves streamlining of IPO process in India. Cut IPO allotment timeline to t+6 from t+12. ASBA mandatory for all class of IPO investors. Reclassified system to categorise promoters. Fast issuance of IPOs made available to larger number of Cos. Positive For Primary Market.
SEBI chief Further says exchanges will have institutional trading platform for startups. Lock in period reduced to 6 months for startups as against 3 years for other IPOs. Exchanges will have separate trading platform for start-ups from new age sectors; 25% stake to be with institutional investors. SEBI Chairman: Start-up Cos can list if 25% Pre-IPO capital via QIP; min investment in start-up IPOs will be Rs. 10 lakh.
SEBI Board Meet SEBI Chairman Says: Willb Be Able To Take Responsibility Of FMC By September End

just In: Finance Minister Approves Formation Of 2 Committees For GST.
Fin Min Say: GST Will Be Rolled Out From April 1, 2016.
Sets Up Panel Under Chief Eco Advisor To Study Revenue Neutral Rate For GST.
Panel Under Chief Eco Advisor To Give Its Report On RNR For GST In 2 Months.

A TO Z OF INCOME TAX PROVISIONS AT A GLANCE:

1. Detailed information of Income Tax is available on www.incometaxindia.gov.in

2. As per Income Tax Act, Income is taxable under five heads- Salary, House Property, Business or Profession, Capital Gain and Other Sources.

3. Salaried person must obtain Form 16 from his Employer Every Year.

4. Income Tax Return should be filed by considering Form 16 and other Income.

5. Transport Allowance is exempt up to Rs.1,600 per month.

6. 30% Standard deduction is available on Income from House Property.

7. Income to be considered as deemed let out on second House property.

8. For self-occupied house property, deduction of Interest on Housing Loan is allowed up to Rs. 200,000/- and for other house property actual expenditure of Interest on Housing Loan is allowed.

9. Repayment of Principal amount of Housing Loan is deductible u/s 80C up to Rs.150,000/-.

10. Tax Audit is compulsory if sales turnover exceeds Rs.1 crore in case of business.

11. Tax Audit is compulsory if the Gross Receipts of Professionals exceeds Rs.25 lakhs.

12. If sales turnover is below Rs. 1 crore, then net profit of 8% or higher is to be taken as business income otherwise tax audit is required.

13. The Due Date for Tax Audit and income Tax Return is 30th September.

14. Assessee other than Company and those eligible for Tax Audit are required to file Income Tax Return before 31st of July. Extended date is 31st Aug for F.Y. 2014-15.

15. Accurate Stock Valuation should be done on 31st of March.

16. Cash payment should not be made to a person in single day exceeding Rs.20,000.

17. Cash Payment limit for Transporters is Rs.35,000/-.

18. Loans, deposits and Immovable Properties transactions should
not be carried out above Rs.20,000 in cash.

19. Business loss can be carried forward to Next 8 Years.

20. Tax Audit applicable assesses should deduct TDS on particular transactions.

21. TDS should be made on the date of Credit or Payment basis of whichever is earlier.

22. TDS payment should be made on or before 7th day of Next Month.

23. TDS Returns are to be filed Quarterly.

24. TDS returns can be revised any number of times.

25. TDS should be deducted and paid if applicable.

26. If TDS is not deducted then deduction of 30% of Expenditure
is not allowed.

27. Late filling of TDS return attracts late filing fees of Rs.200 per day.

28. Long Term Capital Gain will arise if transfer of specified Capital Assets is made after 3 years.

29. Generally Long Term Capital Gains is taxable @ 20%

30. STT paid Long Term Capital Gain on Shares,etc is exempt from Tax.

31. Short Term Capital Gain is Taxable @ 15% if STT is paid.

32. Capital Gain on Immovable Properties is chargeable at Stamp
Duty Value or Selling Price whichever is higher.

33. Dividend received from domestic company is exempt from Tax.

34. Agricultural Income is exempt from Tax.

35. Gifts received form stranger of an Amount exceeding Rs.50,000 is taxable.

36. Income Tax is not chargeable on Gifts received at the time of Marriage, Will, and in case of Succession and from specified relatives.

37. Maximum deduction limit u/s 80C, 80CCC and 80 CCD is Rs.1,50,000.

38. Deduction of Medical Insurance Premium is available up to Rs. 25,000.

39. Deduction of Medical Insurance Premium paid for Parents is available up to Rs. 20,000.

40. Deduction limit of Interest earned on Saving Accnt is up to Rs.10, 000.

41. Income earned by a Minor child is clubbed in the hands of Parents.

42. Every Taxpayer should verify his Form 26AS.

43. Form 26AS provides the Information regarding the TDS, Advance Tax paid and details of refund.

44. Notice may be sent to the Taxpayer if the Income mentioned in Form 26AS and the Income Tax Return filed is having difference.

45. Basic Exemption Limit for individuals for FY2015-16 is Rs.2,50,000.

46. Basic Exemption Limit for Senior Citizen i.e. above 60 years age is Rs.3,00,000.

47. Basic Exemption Limit for Super Senior Citizen i.e. above 80 years age is Rs.5,00,000.

48. Advance Tax is to be paid if Tax Liability during the year exceeds Rs. 10,000.

49. 12% of Surcharge is applicable if Income Exceeds Rs. 1Crore.

50. Income Tax Return should be filed if Income exceeds Basic Exemption Limit.

51. 30% of Tax applicable on Income of Partnership Firm, Company, LLP etc.

52. For Companies – Minimum Alternate Tax and for other Assesses
– Alternate Minimum Tax rate is 18.5%.

53. Details of all Bank Accounts have to be given in Income Tax return.

54. Passport number is required to be given in Income Tax return.

55. Detail of Fixed Assets held in Foreign Country is required to be given in Income Tax return.

56. If taxable income of Individual is less than Rs. 5 Lakhs then relief of Rs.2,000/- is available in Tax.

57. Aadhar Card No. is required to be mentioned in Income Tax return.

58. E-filling of return is compulsory if income exceeds Rs. 5 lakhs.

59. In Income Tax, E-filling of return can be done for Previous 2 Years only.

60. PAN Card is essential for Taxpayer and it should not be used as Id Proof.

61. From FY 2014-15 Depreciation is to be calculated as per New Companies Act.

62. Domestic Transfer Pricing is applicable on transaction exceeding an Amount Rs.20 Crores.

Hope you will find it useful. -

One clarification from finance ministry, Service tax (14%) will not apply to non - AC restaurants. Even in AC restaurants 14% will apply to only 40% of bill amount not on full bill, so effective service tax will be 5.6% on full bill. Please check this while dining out. Issued for awareness !!

Exchanges NSE and BSE meeting today to decide whether Nestle should be in Metal index or FMCG😀😀

Please find update on The Second Bi-monthly Monetary Policy – June 2, 2015

The RBI's stance has been hawkish with a suggestion of a prolonged pause. It has highlighted contingent risks in the forms of delayed monsoons, the effect and pass through to inflation in the form of ag-flation (agriculture-led-inflation); risk of crude prices firming up further on account of rising geopolitical tension; and volatility in the external environment.

The RBI Governor also indicated that further rate action will depend on incoming data which is essentially dependent on prudent government policies on managing supply side constraints.

The Key highlights of the Monetary Policy are:-

Repo Rate cut by 25 basis points, reduces to 7.25%CRR (4%) and SLR (21.50%) remain unchanged.Inflation for March 2016 revised upward from 5.80% to 6% GDP revised downward from 7.80% to 7.60%

Market Reaction

The money markets have only exhibited minor changes from pre policy levels. The 10 Year benchmark trades at earlier levels of 7.86%, while up by 3 basis points from yesterday's closing levels.

Fixed Income View

For investors with a 3-12 month investment horizon, we recommend short maturity funds (Ultra Short, Select Debt Short Term and Income Plus) that focus on accruals. For those with an 18-24 month investment horizon, we recommend Banking & PSU Debt Fund, Bond Saver or Gilt Fund.

Equity View

The market traded mainly in the red as there wasn't much positive surprise in the statements. With this event out of the way, we believe that markets will stabilize over the next couple of days. Corrective periods like these should be used to enter the markets.

Warm Regards,

Sundaram Mutual.