To decide whether the gold is long or short term asset, find out how long have held it. If your holding period is over 36 months, it is considered as a long term asset, and accordingly long term capital gains (LTCG) tax rate is charged. If you have held it for less than 36 months,… Read More »
The gifts received in the names of one’s minor children will be clubbed with the parents’ income for taxation purpose. Also the taxman is very alert in saying that, in case of both parents having income, clubbing will be done with that parent who is earning more. So one cannot hide under the cover of… Read More »
Over the next 2 years, public sector banks will get Rs. 35,000 crores from Center. This measure has been taken in order to meet the credit needs of the economy. According to the RBI norms, at least 6% Tier I capital must be kept by the banks. The planned capital infusion will let the banks… Read More »
IDBI Bank intends to raise Rs. 300 crore this month by issuing perpetual bonds. Mr. P Sitaram, chief financial officer, IDBI Bank said, “The amount raised will be to meet Tier-I capital requirement of the bank.” A perpetual bond is a bond without a maturity or redemption time. The holder of this bond can earn… Read More »
State Bank of India (SBI) has shortlisted 3 applicants as prospective associates for a joint venture to install 5 lakh swipe machines for credit and debit cards throughout the country. These applicants are Visa, Royal Bank of Scotland (RBS) and Global Payments. SBI has been looking to reach leadership position in electronic networks. SBI has… Read More »
Giving in to the banks’ demand, the Reserve Bank of India has delayed the date of implementation of the planned base rate system to 1st July and also removed 3 types of loans from the new model. This means the rates on old home loans will not change till 1st July. Usha Thorat, RBI Deputy… Read More »
This piece will try to look at the numbers post budget 2010 and compare it with the tax laws prevailing in 2009-2010 to see which part of the Indian junta will laugh its way to the bank in 2010-11. There have been countless discussions on how the budget is pro-middle-middle class (the repetition of middle… Read More »
This article will try to look the pros and cons of investing in Infrastructure bonds for the sake of tax saving. The analysis will be from the perspective of the different “tax groups” post budget 2010. For the sake of parameters we will have to make an assumption on the lock-in period (as nothing… Read More »
Reams of paper and millions of words are used to discuss the budget every year, but, by the time the next budget has come many of these experts are more involved about thinking of what should be done in the upcoming budget rather than what has been done that was promised in the last year.
The profit from Indian arm of Standard Chartered has exceeded the $1 billion mark for the 1st time. The profit before tax for the year 2009 went up by 19% to 1.06 billion from $891 million last year. Actually, the Indian arm of the emerging markets bank is turning out to be the biggest profit… Read More »