Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Overall, small savings have amassed Rs 1.17 trillion from April-September - 26 per cent more than the previous year. But in those six months, the economy lost 24 per cent in the first three months, and is slated to lose 10 per cent in the second quarter.
With this, the total SIP contribution in the first seven months of the current financial year rose to Rs 57,607 crore as compared with Rs 52,472 crore in April-October 2018, according to the latest data from the Association of Mutual Funds in India (Amfi).
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Apart from its enforceability through courts due to it being part of the I-T Act, two other factors will help ensure the taxpayers' charter is implemented, at least in letter (if not in spirit) this time around, points out Harsh Roongta.
In renaming TRS and repositioning it as a 'national' party, KCR is also eyeing a pole position in opposition politics ahead of the 2024 Lok Sabha elections.
Every patriot should learn from our history and recognise that celebrating size will neither negate nor obscure the huge economic challenges that India faces, asserts Rathin Roy.
Efficient use of data and a great sense of timing are two things that stand out in the Sebi whole-time member's order in the matter of Reliance Petroleum
'The Modi regime is not willing to use its huge political capital for taking any economic policy measure that it fears might undermine that political strength, says A K Bhattacharya.
The success of the auction may not be more than a little step in Pearls Agrotech Corp's recovery process of over a Rs 49,100 crore plus interest
The income tax department estimates total collection to be between Rs 10.5 trillion and Rs 10.7 trillion against the revised target of Rs 11.7 trillion.
Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.
Cheap or free power is viewed as a right rather than a privilege by many Indians
Housing finance major HDFC on Monday reported a 16 per cent growth in standalone net profit to Rs 3,700 crore for the January-March quarter, helped by record loan sales on the back of benign interest rates and the resultant fall in cost of funds along with the near-total repayments that culled provisions and credit costs. For the full year, the company, which is working on a reverse merger with its banking subsidiary, has booked a net profit of Rs 13,742 crore, up from Rs 12,027 crore in FY21, vice-chairman and chief executive Keki Mistry said on Monday in an earnings call with analysts. On a consolidated basis, net profit for the quarter surged 21.6 per cent to Rs 6,892 crore on-year and for the full year it jumped 21 per cent to Rs 22,595 crore, Mistry said and guided towards better days.
The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
If not for Palaniswami, it is hard to guess if the AIADMK would have been able to garner 33.3 per cent vote share as against the DMK's 37.7 per cent. AIADMK won 66 seats, its allies Pattali Makkal Katchi and Bharatiya Janata Party five and four seats respectively and proved yet again that the western region was its fortress.
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
Nearly 28 per cent of urban Indians are planning to spend on gold in the next three months, signalling a renewed appetite for the yellow metal amid the waning effects of second wave of COVID-19, as per a survey. The gems and jewellery industry, which was impacted by the COVID-induced disruptions in 2020, had shown signs of recovery in January-March this year. However, the second wave of the pandemic put a halt to it. Businesses are beginning to look up as state governments are slowly easing restrictions on movements, and organised retailers are hoping consumer demand to show positive sentiment during the festive season this year.
The number of smartphones booked during the initial hours was 30,000.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
'Increased allocations for MNREGA could have provided the much needed push to rural demand and consumption at a time when recovery continues to remain uneven.'
The alleged chit fund scam in West Bengal involving the Saradha Group revolves around a total sum of Rs 2,460 crore with 80 per cent of the depositors' monies still remaining unpaid, a latest investigation report has revealed.
UK-based Cairn Energy PLC on Wednesday said it has agreed to drop litigations to seize Indian properties in countries ranging from France to the UK as it has accepted the Indian government's offer to settle tax dispute relating to the levy of taxes retrospectively. Meeting the requirements of new legislation that scraps levy of retrospective taxation, the company has given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world. The government now has to accept this and issue Cairn a so-called Form-II, that will commit it to refund the tax collected to enforce the retrospective tax demand.
To get same tax treatment as FIIs; rules on search & seizure and consent settlement cleared
The number of poor people in India fell by about 415 million between 2005-06 and 2019-21, a "historic change" and a demonstration that the Sustainable Development Goal target of reducing at least by half the proportion of men, women and children of all ages living in poverty by 2030 is possible to achieve, even at a large scale, according to the UN.
The Centre has to bear the maximum burden of borrowing NSSF loans to the tune of Rs 1 lakh crore.
The average fall in 15 most-invested stocks by equity MFs was 5.7 per cent. Chandan Kishore Kant reports
'If anybody defaults on something which is due for today, they have to disclose it tomorrow.' 'The accumulation of NPAs is due to asymmetry in information.' 'The investor should have real-time information.'
'People who have unaccounted money often park it in unregulated deposit schemes.' 'Curbing illegal deposit-raising activity will also carry forward the government's drive against black money.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The Calcutta high court on Tuesday directed the Central Bureau of Investigation to file an affidavit by Thursday stating whether the central investigating agency had been handed over investigation by other states into the multi-crore chit fund scam that affected lakhs of investors.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Promoters of world's cheapest smartphone refund customers' money, close fresh bookings
Keep working on your portfolio according to market conditions. But don't do it too often
'Without reviving employment, consumer confidence will not go up.'
The flows may stem and redemptions pressure increase following the market meltdown of Monday amid mounting cases of coronavirus infection globally.
The restructuring, which will involve nine listed companies, including TVS Motor, Sundaram Clayton, Sundram Fasteners, TVS Electronics and TVS Srichakra, among others, will give each family group complete ownership of businesses they manage while scrapping the holding company.
'We are all in a tizzy about NBFCs in the aftermath of the IL&FS default.' 'We tend to jump to the notion that an NBFC is like a bank. But banks make a promise that deposits are liquid and have an assured return.' 'NBFCs make no such promises,' points out Ajay Shah.
'Investors need to find out how the FMP's assets are distributed and ensure the investments are in high-quality names.'
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