RupeeTax.com

Who should subscribe to zomato ipo.
1.Those who believe that zomato and food delivery story will expand and grow with drones with Zomato logo delivering food outside homes by 2025 and Indians gradually giving up cooking at home as nuclear working families dominate society

2. Those who want a piece of the pie of a listed Indian internet company. There is a shortage of such companies which is good for investors

3. Those looking for a quick flip on listing of the ipo. Given large size we expect small gains or even a fall in price on listing day.

Buy if you belive the story... as valuation guru Aswath Damodaran says

Valuations are expensive as company will remain loss making for many years...

Time to buy HPCL shares to benefit from dividend payment of Rs. 22.75 per share.
Ex dividend date is 8 July 2021. Our video on this and also how to hedge downside risk using put options and call options. Hpcl was trading at 305 on date of recommendation.

Buy at current price of 305. Follow strategy in the video on our YouTube channel here

Youtu.be/yob7TRvjOew

How are stock prices determined.. when we searched the web we didn't find any easy to understand explanation, other than a few books like The Intelligent Investor by Benjamin Graham.

Hence we are planning a video series to explain layer by layer how stock prices are determined and why they fluctuate with examples of well known Indian Stocks

Watch this space for more.....

Has your employer asked you for tax declaration for the next financial year 2020-21

Should you opt for 1. New regime or continue with Old regime..

To find out which one is more beneficial you can use our tax calculator to compare tax liability under both
https://t.co/RHu8jTGkYZ

Should you opt for new tax regime (no deductions) or continue with old tax regime and claim deductions for life insurance, ELSS and other investments - Online Tax Preparation Services | Rupee Tax As the deadline for providing income tax declarations for the next financial year i.e. 2020-21, all employees will have to Can We Explore

New Income Tax notification. Implication in short for individual tax payers.

For financial year 18-19. Date for filing belated return i.e. late return or revised return extended to 31 Jul 2020.

For financial year 19-20. Date for filing return extended to 30 Nov 2020.

Investments for claiming tax deduction under VI A for 19-20 extended till 31 July 2020.

If you have tax refund or wish to finish compliance advisable to file return asap.

Circulars & Notifications The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail.

11 days left to make tax deductible investments for the last financial year. March 2020.

If you are unsure if you need to make investments contact us for a free report only for this period (till 30 June 20)

Tax saving investments allowed till 30th June - Online Tax Preparation Services | Rupee Tax CBDT has notified Income tax returns for FY 2019-20 (AY 2020-21) wherein a separate column has been added where information on Can We Explore

Learnings from the Punjab Maharashtra Co- Bank (PMC) Scam. Diversify. Diversify. Diversify. scam, # Save your money, # Every Rupee Counts

What went wrong at the bank?
The RBI issued directions from 24th Sept 2019 on Maharashtra and Punjab cooperative Bank (PMC) owing to serious financial irregularities.
1) More than 75% lending to one group company i.e. HDIL which is way higher than the limit of 40% set by RBI. Furthermore, HDIL is a real estate development company whose primary focus is on construction, development of residential, commercial and retail projects. As a norm banks are averse to lending to such companies due to high risk associated with such projects.
2) There was no mention of any default by HDIL on servicing interest payments in any of the audit reports. Apparently, the bank was growing; and the auditors were checking only incremental advances and validated the accounts shown by the board.
3) Many dummy accounts were created in order to hide HDIL NPA’s. Moreover, the bank continued to extend credit despite HDIL going NPA.
And the list goes on... Much has been written and discussed about how things went this bad. Actually speaking, in any scam, the list of what went wrong is more or less the same. Money laundering, siphoning off of huge sums of money to dummy accounts, political interference, using the company as a personal financial institution by promoters etc. It would be beyond the ability of most individual investors to understand the risks involved in any institution. Hence, retail savers and investors should manage this risk in a simple and easy way as follows:
What should retail investors learn from all these scams and frauds?
While, the scam is yet another example of the greed, dis-regard for rules by promoters and abandonment of responsibility by Board of Directors and auditors, the most important lesson for retail investors is the need to diversify their savings.
Follow these simple rules and save yourselves from most of the financial crisis and scams
1. Diversify across banks – Depositors insurance covers only upto 1lakh per bank account. Make sure your savings and fixed deposits are invested across at least 3-4 banks with more or less equal amounts in each. Thus, you will be better off diversifying your life savings in different banks rather than keeping all your money in one.

2. Be aware of risk of higher returns - If you want a higher yield and therefore want to keep deposits with co-operative banks, that is absolutely your choice. But be conscious that a higher return always comes at a higher risk.

3. Diversify across public and private sector banks - Ensure that the list of banks includes at least 1 (preferably 2) of the established private sector banks such as HDFC Bank, ICICI Bank, Kotak Mahindra, Axis Bank etc.

4. Diversify between Company fixed deposits and bank deposits, mutual funds etc - Limit the amount invested in Company fixed deposits to not more than 25% of your total savings. Company deposits provide 2-4% higher return compared to banks but are also inherently more risky. Similarly, it is better to invest in atleast 2-3 mutual funds rather than invest everything in one best performing fund.

5. Diversify from your Employer - Bank employees tend to maintain savings and fixed deposits with their employers. This doubles concentration risk (if your employer fails, both your income and savings will be under threat). You should ensure that limited amount is kept with your employer and balance across other banks. Similarly, employees tend to buy shares of their own companies. This should only be a small part of your overall share portfolio.

6. Diversify across products - Many banks also sell insurance and mutual funds of their subsidiaries. Make sure, you are not buying all your financial products from one institution.

Nov 2019

Rupeetax.com

CBDT extends tax return filing deadline for those tax payers subject to tax audit to 31 October 2019. This includes individuals reporting loss under F&O segment.

Enclosed is the notification. Notice that the date of the notification is hand written. Possibly the decision to extend was taken earlier but released only later by the CBDT so that maximum people file their returns before 30 September.

Deadline for filing IT returns by individuals extended to 31 August 2019 in a welcome relief by CBDT.

We still suggest filing returns as soon as possible to enable faster processing of returns...

F. No. 225/157/2019/ITA.II Government of India Ministry of Finance Department of Revenue

Central Board of Direct Taxes
North-Block, ITA-II Division New Delhi, the 23 of July, 2019
Order under Section 119 of the Income-tax Act, 1961

The ‘due-date’ for filing income-tax returns for Assessment-Year 2019-20 is 31.07.2019 for certain categories of taxpayers. It has been reported that some of the taxpayers are facing difficulties in filing their income- tax returns due to various reasons including extension of due date for issue of Form 16 for the Assessment-Year 2019-20.

In this regard, the Central Board of Direct Taxes, in exercise of its powers conferred under section 119 of the Income-tax Act, 1961 (‘Act’), hereby extends the ‘due-date’, as prescribed under section 139(1) of the Act, for filing income-tax returns from 31 July, 2019 to 31 August, 2019 in cases of all taxpayers who are liable to file their income-tax returns by the said ‘due-date’.

—sd—
(Rajarajeswari R.) Under Secretary to the Government of India

Seminar by RupeeTax on Personal finance and Tax at Pune Commercial Bank on 20 July 2019