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DSP Mutual Fund files offer document for DSP Value Fund
DSP Mutual Fund has filed an offer document with SEBI to launch an open-ended equity scheme named ‘DSP Value Fund’. The New Fund Offer price is Rs 10 per unit. Entry load will be nil and Exit load for holding period from the date of allotment: less than or equal to 12 months will be…
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Motilal Oswal Mutual Fund Launches Large and Midcap Fund
Motilal Oswal Mutual Fund (MF) has launched the Motilal Oswal Large and Midcap Fund, an open ended equity scheme. The NFO opens for subscription on September 27, 2019 and closes on October 11, 2019. Entry load is nil and Exit load will be 1%, if redeemed on or before 15 days from the date of…
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Revised Motor Third Party premium rates for private cars and two-wheelers
Revised Motor Third-Party premium rate list for private cars and two-wheelers for FY 2019-2020 issued by IRDAI Vehicle Category Motor TP Premium Rates (Rs.) 2018-2019 2019-2020 Private Cars Not exceeding 1000 cc 1,850 2,072 Exceeding 1000 cc but not exceeding 1500 cc 2,863 3,221 Exceeding 1500 cc 7,890 7,890 Two Wheelers Not exceeding 75 cc…
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Bharat Ke Veer 80G Tax Benefit: Why only 50% deduction is allowed
Bharat Ke Veer is a website created by the Ministry of Home Affairs where we can donate to support our armed forces. This contribution is eligible for deduction under section 80G. Contributions made to Funds/ Institutions which satisfies conditions mentioned under section 80G(5) of the Income Tax Act are eligible for a 50% deduction from…
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Sovereign Gold Bond Scheme 2019 -20 Issue Schedule
Sovereign Gold Bonds will be issued every month from June 2019 to September 2019 as per the following schedule S.No. Tranche Date of Subscription Date of Issuance 1 2019-20 Series I June 03-07, 2019 June 11, 2019 2 2019-20 Series II July 08–12, 2019 July 16, 2019 3 2019-20 Series III August 05-09, 2019 August…
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I run a business and also have capital gains: Which ITR form should I use?
If you run a business and have capital gains to report, you should file ITR3. This is because, those who have business income cannot use ITR1, ITR2. So for an individual, this leaves only ITR3 and ITR4. However, ITR4 cannot be used when there is Income under the head ―Capital Gains‖, e.g. Short-term capital gains…
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NPS Tier II Tax Saving Benefit: FAQ and clarifications
Here is an FAQ on the NPS Tier II account and clarifications on the proposed tax saving benefits. What is a Tier 2 NPS Account? This is a mutual fund you can invest with no lock-in period and no obligation to buy a pension (annuity) like with Tier 1. Please note that Tier 1 is…
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Sovereign Gold Bond Scheme 2019-20 (Series VII): Should you buy?
Sovereign Gold Bond Scheme 2019-20 (Series V) will be available for sale in the primary market between Dec 2-6, 2019. However, should you buy these? When and for what purpose. A sovereign gold bond is a way to track the price of gold without actually investing in gold. It was introduced to reduce the import…
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NPS Withdrawal Rules 2019 Explained
On 21st Dec. 2018 , the Pension Fund Regulatory and Development Authority (PFRDA) has changed the norms for withdrawal of National Pension System (NPS) subscribers. Here are the details. NPS Withdrawal Rules 2019 (partial) Earlier partial withdrawals from NPS Tier 1 was possible only after the account was ten years old. In a welcome move,…
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Small Saving Scheme Interest Rates List (Oct-Dec 2019)
Here are the small saving scheme interest rates for the quarter Oct to Dec 2019 issued by the finance ministry. Data source: National Small Savings Institute The current PPF interest rate is 7.9% The current Sukanya Samriddhi Account interest rate is 8.4% Instrument Rate of Interest w.r.t 01.07.2019 to 30.09.2019 Rate of Interest w.r.t 01.010.2019…