Every week, personal finance experts answer our readers’ queries in the wealth edition. Here is a query on financial planning answered by an expert. I am 45 years old. I have been investing Rs 1,000 per month each in HDFC Hybrid Equity, Aditya Birla Sun Life Frontline Equity; Rs 1,500 each in Mirae Asset Large Cap, Mirae Asset Emerging Bluechip; Rs 2,000 in SBI Bluechip; Rs 2,500 in Motilal Oswal Nasdaq 100 Fund of Fund for the last three years through SIPs. A month ago, I invested Rs 47,400 in 10-year Sovereign Gold Bonds. I have also started investing Rs…
Author: Miley Selena
With various festivals falling in the month of October, it would be prudent to know when banks will be closed during the month so that your financial matters are not disrupted. For instance, banks will be closed in various states for Durga Puja, Kati Bihu, and Id-E-Milad. Banks will also be closed on second and fourth Saturdays and Sundays. Here is a look at the bank holidays across various states in October: October 2 (Saturday): Mahatma Gandhi Jayanti; banks across the country will be closed October 6 (Wednesday): Mahalaya Amavasye; banks will be closed in Tripura, Karnataka, West Bengal October…
Sell these 4 overpriced stocks now, here’s why Read more: EconomicTimes
Equity markets continue to rally and have now posted a remarkable 17-month upward run after falling sharply early last year on fears that the pandemic would present deep and lasting challenges for the global economy and businesses. The S&P BSE 500 was up 142% since the March 2020 lows as of 7 September 2021. The past 17 months included an abrupt (and unprecedented) shutdown of the global economy due to the coronavirus, followed by the eventual reopening of the economy and record levels of fiscal and monetary stimulus. This clubbed with strong earnings growth expectations, future cash flows discounted at…
If an individual has missesd the income tax return (ITR) filing deadline (i.e., December 31, 2021 for FY 2020-21), then he/she will have to pay a penalty at the time of filing a belated ITR. (Click here to find out how much penalty one will have to pay for missing the ITR filing deadline.) However, there are certain individuals who can file their ITR without paying a penalty even after the expiry of the deadline. Let us take a look at who will not have to face penal consequences for missing the ITR filing deadline. Who will not have to…
Nifty march takes a break: Nifty was on a one way trip after breaking the 16,000 barrier. However, it then decided to take a pause. Nifty’s gain during the last week was just 46 points or 0.3%. Increasing number of delta covid variant cases and its negative impact on the global economy continues to be the main worry. However, central bankers continue to support the economy. For instance, European Central Bank (ECB), in its recent meeting, has signalled that it will only slightly reduce its emergency bond purchases over the coming quarter. In addition to the increasing pace of vaccination,…
Indian consumers are starting to spend more even though revenge shopping is not on the agenda; they are happy that the offices are reopening, and are also upbeat about the market. This upswing in consumer sentiment was recorded by a survey carried out by Axis My India in August. Conducted among 10,482 people across India, the study showed that at 56% overall household spending, consumers have registered a 2 percentage point increase over the previous month. Importantly, 21% of the families are spending more on non-essential and discretionary products, a sharp rise from 15% last month. While rural India is…
In a buyback of shares, the company purchases the shares from its shareholders, thereby reducing the number of shares in the market. Buybacks are carried out in two ways: (a) Tender offer or (b) Open market offer. We will discuss process of participating in buyback through the tender offer process. Eligibility for buyback To be able to participate in a buyback process, the investor should be have held the shares of the company before the record date declared by the company in its announcement for buyback. The shares should be held in demat form. Tender of shares for buyback The…
By Sudhir Kaushik of Taxspanner.com Hyderabad-based software professional Kamal Kant pays a low tax because his salary structure is quite tax friendly. Even so, Taxspanner estimates that Kant can reduce his tax by almost Rs 50,000 if his company offers him some tax-free perks and the NPS benefit and he invests in the scheme on his own. Income from employer Income from other sourceKant should start by asking his company for the NPS benefit. Under Sec 80CCD(2), up to 10% of the basic put in NPS is tax free. If his company puts Rs 6,123 (10% of his basic pay)…
Not many investors know whether they have invested in the right funds and if their fund portfolio is on track. The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and their suitability with regard to the goals and, if required, recommends corrective measures. The advice given is based on the performance of the funds, the risk profile of the investor as well as his financial goals. I: Sagar Devkate is saving for a house, kids’ education and retirement. Here’s what the doctor advised:GoalsInvestor’s existing portfolioPortfolio check-up Started investing in equity funds 2-3 months ago. Funds are…