INVEST CHIPS

Know Your Tax Deductions 2018

2018-02-09T12:23:00.001+05:30

Following are the Tax Deductions available for Indian Tax Payers

LVB needs Executive Director

2018-01-16T11:32:00.001+05:30

LVB needs executive director

Financial Resolutions for the Year 2018

2018-01-02T16:16:00.001+05:30

UTI has published a wonderful advertisement which gives an idea about ideal Financial Resolutions for the Bew Year.

Business Lines’s Mutual Fund Strategy for 2018

2018-01-01T11:35:00.001+05:30

The Hindu Business Line has published following article on “Mutual Fund Strategy for 2018”

Five Stock Market Themes for 2018

2018-01-01T11:27:00.001+05:30

The Hindu has published following article which stresses the importance of five sectors for investments in 2018

Government defers last date for linking Aadhaar

2017-12-13T19:36:00.001+05:30

Government today issued an amendment to Money Laundering Act so that linking of bank account and Aadhaar.

Trading and Settlement Holidays for the Year 2018 in India

2017-12-13T14:54:00.001+05:30

Aadhaar Deadline

2017-11-30T09:26:00.001+05:30

Outlook Money Mutual Fund Picks

2017-09-29T21:26:00.001+05:30

Recent Mutual Fund picks by Outlook Money Magazine

Outlook Money Mutual Funds Selection List

2017-09-18T21:07:00.001+05:30

Living Well with Diabetes

2016-12-03T10:12:00.001+05:30

12 Time Wasters

2016-11-19T07:17:00.001+05:30

Jyothy Labs spikes on report Germany's Henkel may buy stake BT Online

2016-06-02T13:56:00.001+05:30

Shares of Jyothy Laboratories pared much gains to rule over 2 per cent higher after rising as much as 15.74 per cent in trade on Thursday.

Nearly 1.7 million shares changed hands as of afternoon trade, more than 16 times the 30-day average.

"All indications were positive that Germany's Henkel AG would put in a bid for the Indian company, though nothing had been finalised, said Ullas Kamath, CFO, Jyothy Labs to Business Standard.

Henkel holds option to buy up to 26 per cent of Jyothy.

Option was agreed upon after Jyothy bought a majority stake in Henkel's Indian unit in 2011.

How to avail tax relief under section 80G for your contribution to Chief Minister Relief Fund, Tamil Nadu

2016-06-01T12:08:00.000+05:30

You might have generously contributed to Chief Minister' s Relief Fund during Chenna Floods. You may know that all such contributions will be entitled to 100% Income Tax exemption under Section 80G of the Income Tax Act. Tax filing time is nearing for the Assessment Year 2016-17 ( Financial Year 2015-16).

How to avail tax relief under section 80G for your contribution to Chief Minister Relief Fund, Tamil Nadu ?

Simple.... If you know the following details, you can easily claim the tax relief

Name of the Donee: “Chief Minister's Public Relief Fund"

Address: The Joint Secretary & Treasurer Chief Minister's Public Relief Fund Finance (CMPRF) Department Government of Tamil Nadu Secretariat, Chennai 600 009 Tamil Nadu, INDIA

City or Town : Chennai

State : Tamil Nadu

Pin code : 600009

PAN No. of Donee: AAAGC0038F

If you fill all the above details along with actual amount contributed in the A row of 80G tab of your return, you can avail tax relief. No need to submit any proof of contribution along with returns. However, if assessing officer asks proof while scrutinising your returns, you should be in a position to submit the promos

EPFO puts on hold new PF withdrawal norms till July 31

2016-04-19T18:59:00.001+05:30

“The notification (tightening PF withdrawal norms) will be kept in abeyance for three months till July 31, 2016. We will discuss this issue with the stakeholders,” Labour Minister Bandaru Dattatreya told reporters.

His announcement comes in the midst of protest by labour unions in several parts of the country against the bar on withdrawing employer’s contribution from the PF money.

People have also launched online campaign against the decision, which was to be implemented from February 10 but was later put on hold till April 30. Police yesterday lathi-charged a crowd of garment factory workers protesting against the amendment to the EPF Act.

Dattatreya said a meeting of the Central Board of Trustee would be called “to see how best the employers’ contribution to EPF (3.67 per cent of basic wages) can be utilised for workers.”

The Labour Ministry is also contemplating permitting withdrawal of all accumulations by Employees’ Provident Fund Organisation’s (EPFO) subscribers on grounds like purchase of house, serious illness, marriage and professional education of children. The matter has been referred to Law Ministry for clearance. In February, the ministry had issued a notification restricting 100 per cent withdrawal of provident fund by members after unemployment of more than two months, among others.

Following the concerns raised by trade unions and other stakeholders, the ministry decided to keep the notification in abeyance till April 30. Its implementation has been again deferred till July 31, as per a Labour Ministry statement.

Now, the EPFO subscribers who are out of job for more than two months can file for full and final settlement of provident fund till July end.

“On the direction of Labour Minister, the said provision will now come into effect from August 1, 2016 by issue of an amended notification,” the statement said.

The proposal to amend the scheme to allow all accumulations on different grounds like purchase of house, serious illness, marriage and professional education of children, has been sent for vetting by the Law Ministry.

The proposal also allows withdrawal of all accumulation by EPFO members who have joined an establishment or firm of central or state government and became the member of contributory provident fund or old age pension under any scheme frame by them.

The unions have been demanding complete rollback of the decision tightening the PF withdrawal norms.

Earlier in February, the EPFO had amended the EPF Scheme 1952 to tighten the various norms for withdrawal of provident fund including increasing age limit for filing such claims by retiring employees to 58 years from 54 years.

Besides, the EPFO had also restricted withdrawal of PF to own contribution of subscribers and interest earned on that, if the claimant has remained unemployed for more than two months. The member would be able to withdraw employer’s contribution on maturity.

It was stipulated that the requirement of two months’ unemployment will not apply in cases of women members resigning from the services for the purpose of getting married, on account of pregnancy or child birth.

According to the new norms, subscribers will not be able to claim withdrawal of PF after attaining 54 years of age. They would have to wait till attaining the age 57 years.

As per the earlier norms, subscribers were allowed to claim 90 per cent of their accumulations in their PF account at the age of 54 years and their claims were settled just one year before their retirement.

As per experts, the earlier clause was relevant because there were establishments where retirement age was 55 years or 56 years. But this will create a problem in private as well as public sector where people opt for voluntary retirement.

In another change, EPFO had made it mandatory to wait till attaining the age of 57 for claiming PF withdrawal for transferring that to the Life Insurance Corporation of India for investment in Varishtha Pension Bima Yojana.

Earlier norms used to allow subscribers to claim 90 per cent of their accumulations for investing in the scheme after attaining the age of 55 years.

Activate Do Not Disturb on Mobile Networks

2015-12-05T20:42:00.001+05:30

Unwanted marketing messages and calls made by the mobile network operators are extremely annoying. Luckily TRAI (The Telecom Regulatory Authority of India) has introduced the service NCPR (National Consumer Preference Register), formerly called DND (Do Not Disturb).

With NCPR, the chances of receiving these unwanted messages is almost zero.

How to Activate Do Not Disturb India Registration

This process of activating do not disturb service is all same for Aircel, Airtel, BSNL, Tata DoCoMo, Idea Cellular, Loop Mobile, MTNL, Reliance Communications, MTS India, Tata Indicom, Uninor, Vodafone and etc. Fully Blocked Category

Send SMS at START 0 to 1909 or Call at 1909

Partial Blocked Category

You can also De-Register the DND service to receive the marketing calls and messages in future. To do that, just send an SMS STOP and send it to 1909. You can also call 1909 to cancel the service.

Religare 2015 stock picks

2014-12-31T17:28:00.001+05:30

Religare recommends IPCA labs, M&M, PI Industries, Sundaram Finance and Wipro for the year2015

Buy Amtek Auto Ltd : Nirmal Bang

2014-12-31T12:48:00.001+05:30

Today Nirmal Bang came out with a buy recommendation. They identified Amtek Auto for a three months target of Rs. 215 and Rs. 260

For latest articles visit www.investchips.in

2014-12-27T16:32:00.000+05:30

For latest articles visit www.investchips.in

Fifteen stocks for 2014

2013-12-28T10:19:00.001+05:30

It is common ritual that we wish to start afresh at the beginning of a all new year. Most of investment bankers and brokers are coming out with their own list. While sifting these reports, One list published by Outlook Business magazine looks sensible. Though the stocks appears to be good, do invest in multiple chunks in dips.

Now the list

MPS
Repco Home
Kaveri Seeds
Tata Global
Yes Bank
Aditya Birla Nuvo
ING Vysya Bank
ICICI Bank
Motherson Sumi
ITC
Inox Leisure
MOSL
Voltas
Mahindra Holiday
L& T

For rationale, please do read Outlook Business Special issue dated January 4, 2014. Stocks are listed as such not by any ranking.

Happy investing ......

no trading in non-agricultural commodities futures on Saturdays starting September 21st 2013

2013-09-21T10:37:00.001+05:30

Forwards Market Commission (FMC) has decided that there shall be no trading in non-agricultural commodities futures on Saturdays starting September 21^st 2013.Trading in agricultural commodities presently available for trading will continue on all Saturdays between 10:00 am and 2:00 pm.

IIFL Public Issue of Secured Redeemable NCDs opens on September 17, 2013 with 12% yield

2013-09-15T19:35:00.001+05:30

India Infoline Finance Limited is proposed to issue secured “ Non Convertible Debentures” with an option of monthly and annual interest payment and the yield works out to 12.68% p.a. for the monthly interest option.

The face value of each NCD is Rs 1,000 and minimum application is Rs 5,000 or five NCDs. The NCDs have an investment maturity tenure of three years and five years. For someone in the highest tax bracket, the 12% coupon rate works out to approximately 8.4% post-tax. The post tax return for an investor in the 20% tax bracket is around 9.6% and it is 10.8% for someone in the 10% tax bracket. It has a “Care AA” rating from CARE.

Specific Term of Issue

Options	I	II	III	IV
Tenor	3 years	3 years	5 years	5 years
Coupon rate %	12	12	12	12
Effective yield	12.68	12	12.68	12
Interest Frequency	Monthly	Annually	Monthly	Annually

Those wish to lock the fund for 3-5 years for a post tax yield of 8.4% per annum can invest. No TDS, if the debentures are held in demat. Minimum investment required is Rs.5000 (5 bonds).

Launch of Online Payment System for Passport Applicants in India

2013-06-15T08:46:00.001+05:30

Launch of Online Payment System for Passport Applicants W.e.f 14th June, 2013, Online Payment System will be applicable for taking appointments at following PSKs - Ahmedabad1- Arya Arcade, Ahmedabad2- Sheetal Varsha, Rajkot, Vadodra,
Surat, Jammu, Srinagar, Guwahati, Saligramam, Tambaram, Aminjikarai, Madurai, Tirunelveli City, Trichy, Thanjavur, Coimbatore, Amritsar, Jalandhar1- Eminent Mall, Jalandhar2- Aman’s Plaza and at Hoshiarpur.

Online Payment System is already applicable at Dehradun, Chandigarh, Ambala, Ludhiana and Vizag PSKs.
With the establishment of Passport Seva Kendras, MEA has taken assertive steps to deliver passport services to citizens in a timely, transparent, more accessible and reliable manner.
With launch of online payment based appointments, applicants will be required to make payment at the time of booking appointment on the MEA website. With this, only genuine
applicants will book the appointment and number of no-shows will reduce. Under the new process, payments can be made while booking an appointment on the website – www.passportindia.gov.in either by Credit /Debit card (both Master and Visa) or internet
Banking of State Bank of India. Applicants can also use the Challan option provided on the website and deposit the money in State Bank of India (SBI) branch after generating Challan online. In such cases, upon the confirmation of payment receipt by SBI in online system, applicants can take appointment. Further, instead of applicant choosing the date and time slot of appointment, system will automatically give earliest available appointment.
The new system will be gradually rolled out to all PSKs across the country in coming weeks. As part of MEA’s e-Governance initiatives, the Passport Seva Project (PSP) has transformed the
passport issuance system across India through an increased network of 77 PSKs.

29 Axis bank accounts hacked, Rs 13 lakh withdrawn from ATMs

2013-06-14T20:28:00.001+05:30

Several Axis Bank accounts were hacked during April and May. The cyber fraudsters had withdrawn Rs 13 lakh from these 29 bank accounts which had been hacked.

Police claimed that the debit cards have been cloned and the withdrawal done in Greece, adding that an FIR will be lodged soon in this connection.

Yes Bank : Update

2013-06-10T21:43:00.001+05:30

Advaniji's resignation announcement overshadows today's equally important news. One among them is Yes Bank director election. YES Bank's rejection in 2009 for its board the candidature of a double-graduate in economics and biology, a masters in business administration, with deal making experience at Rabo and ICICI Venture Funds, was simply atrocious ."In case of a listed bank where a family has a large holding , it is best to sit together and sort out the issues in case of any disagreements between the family members as going to the court will not help anyone,'' said Deepak Parekh, chairman of Housing Development Finance Corp and an elder statesman of Indian finance in the Economic Times. It further adds that the bank did not respond to questions whether Gogia was interviewed, or whether the board communicated to her that she may face regulatory obstacles. Shagun and her mother Madhu declined to speak too. Ashok Kapur's family, now headed by his wife Madhu Kapur after he was killed in the November 2008 terrorist attack in Mumbai's Oberoi Hotel, wants the family to be at least consulted on the nomination of directors though they still believe Shagun is qualified to be a director. Shagun, a student of Lawrence School in Sanawar, has graduated in economics and biology from Tufts University, Boston. She went on to secure a post graduation in management from the Indian School of Business, Hyderabad that helped her set foot in the world of finance as an executive at Rabo Finance and secure a position at ICICI Venture Funds Management, the nation's largest private equity fund. Shagun now runs her private equity fund Tuscan Ventures Pvt. Ltd.

"Three resolutions pertaining to the appointment of Diwan Arun Nanda, Ravish Chopra and M R Srinivasan, whose appointments were earlier approved by the board, were put to vote following request by a shareholder.."Overall 57 per cent of the total shareholder ownership votes were polled, and the general body of the shareholders passed all the three resolutions with an overwhelming majority of about 80 per cent and elected all the three aforesaid directors," the city-based bank said in a statement. It was alleged that votes of many shareholders who were neither present, nor sent proxies, were found during the counting. The voting was open for too long for the management to bring in many executives with employee stock options to tilt scales in its favour. Madhu Kapur holds 12% of the bank, while Rana Kapoor owns 13.7%.

Today the Bombay High Court has directed YES BankBSE to consider an appointment of Sagun Gogia as the director on the board .Business Standard reports that" a source indicated that the disagreement between the promoters is primarily over the right to nominate directors on the board of the bank"."Whether or not Shagun should be appointed is secondary. As per the articles of association, the family of Ashok Kapur has the right to nominate directors on the bank's board. That right needs to be protected," the person said adding that the dispute could be resolved if the bank allows Madhu Kapur to nominate directors.Another person also confirmed that both the parties were in favour of an out-of-court settlement. "Both the groups need to reach an agreement but I am confident that it is possible," the source said.

Let's hope, the wisdom prevails .