Author: M Pattabiraman

DSP Mutual Fund files offer document for DSP Value Fund

Published: / Modified: / M Pattabiraman Twitter: @pattufreefincal
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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 1%, and for holding period greater than 12 months will be nil. The scheme offers growth and dividend options and seeks to collect a Minimum Target Amount of Rs 10 crore.

The performance of the scheme will be benchmarked against Nifty 500 Value 50 TRI. The minimum application amount for the initial purchase is Rs 500 and any amount thereafter.

The performance of the scheme will be benchmarked against Nifty 500 Value 50 TRI. The minimum application amount for the initial purchase is Rs 500 and any amount thereafter.

Motilal Oswal Mutual Fund Launches Large and Midcap Fund

Published: / Modified: / M Pattabiraman Twitter: @pattufreefincal

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 allotment and Exit load will be nil, if redeemed after 15 days from the date of allotment. The minimum subscription amount is Rs 500 and in multiples of Re 1 thereafter.

The scheme’s performance will be benchmarked against BSE 200 TRI and its fund managers are Aditya Khemani and Abhiroop Mukherjee.

The investment objective of the scheme is to provide medium to long-term capital appreciation by investing primarily in Large and Midcap stocks.

Revised Motor Third Party premium rates for private cars and two-wheelers

Published: / Modified: / M Pattabiraman Twitter: @pattufreefincal

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 427 482
Exceeding 75 cc but not exceeding 150 cc 720 752
Exceeding 150 cc but not exceeding 350 cc 985 1,193
Exceeding 350 cc 2,323 2,323

 

Bharat Ke Veer 80G Tax Benefit: Why only 50% deduction is allowed

Published: / Modified: / M Pattabiraman Twitter: @pattufreefincal

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 Gross Total Income subject to the qualifying limit.

Why only 50% deduction is allowed

Since Bharat Ke Veer has been granted approval u/s 80G(5)(vi), contributions made to it are eligible for 50% deduction subject to qualifying limit. Please keep this in mind while filing IT returns.

Thanks to Jagjeet Sharma for sharing this research.

Sovereign Gold Bond Scheme 2019 -20 Issue Schedule

Published: / Modified: / M Pattabiraman Twitter: @pattufreefincal

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 14, 2019
4 2019-20 Series IV September 09-13, 2019 September 17, 2019
S. No. Tranche Date of Subscription Date of Issuance
1 2019-20 Series V October 07-11, 2019 October 15, 2019
2 2019-20 Series VI October 21-25, 2019 October 30, 2019
3 2019-20 Series VII December 02–06, 2019 December 10, 2019
4 2019-20 Series VIII January 13-17, 2020 January 21, 2020
5 2019-20 Series IX February 03-07, 2020 February 11, 2020
6 2019-20 Series X March 02-06, 2020 March 11, 2020

Investors can buy these bonds through Scheduled Commercial banks(except Small Finance Banks and Payment Banks), Stock Holding Corporation of India Limited (SHCIL), designated post offices, and recognized stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange Limited.

Do read this before buying: Sovereign Gold Bond Scheme 2019-20 (Series I): Should you buy?

 

I run a business and also have capital gains: Which ITR form should I use?

Published: / Modified: / M Pattabiraman Twitter: @pattufreefincal

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 or long-term capital gains from the sale of house, plot, shares etc.

Other conditions when ITR is not applicable, see: Which ITR Form Should I use for A.Y. 2019-20?