After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
The recent circular follows the 'true-to-label' concept, but large funds in the multi-cap category may be forced to merge in the absence of sufficient small-cap options.
With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges.
'Banks have to be braver, willing to take more risks and give confidence to the customer,' observes Joydeep Ghosh.
Each financial product is governed by a different regulator and the rules for gifting vary, points out Tinesh Bhasin.
An income tax tribunal held that the PoA could not be construed as an instrument of transfer concerning any right, title, or interest in the immovable property.
There are judicial precedents where it has been held that if payment is made for temporary disablement, it would be taxable, points out Tinesh Bhasin.
Do not go for riskier options like co-operative bank only for the higher return. Even if you go for them, park only a small portion of your capital there, say Tinesh Bhasin and Sanjay Kumar Singh.
After the NHB asked housing finance cos to desist from offering interest subvention schemes, disbursement of loans are likely to get delayed, points out Tinesh Bhasin.
It's best to avoid deals that sound too good to be true.
Tax experts said that in FY17 around 80,000 people had reported incomes of over Rs 1 crore
Investing in start-ups can be highly rewarding, but direct investing is not meant for everyone. For the majority of wealthy investors, taking the private-equity route could still be the better option.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
If you are a retail investor, you can allocate a portion of the portfolio to the medium- to long-term debt fund category instead of gilt funds.
Selling property below market value can lead to litigation. Tinesh Bhasin offers tips on how to avoid it.
'Investors need to understand that these schemes may not do well in the market that is in a bull run, but quality stocks would protect the downside.'
If you are merely letting out the property and enjoying the rent as an individual or as a company, in most cases, you will need to mention rental income under the head 'income from house property' in the income-tax return form, points out Tinesh Bhasin.
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
Those earning over Rs 50 lakh a year need to disclose all jewellery and cash in their returns, says Tinesh Bhasin.
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