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It provides the latest updates relating to Indirect taxation, Direct Taxation , Finance, motivation write ups and related!

05/12/2021

Top mistakes people often does in Secondary Market( Stock Market)
1- Taking loan for investing or trading.
2- Following experts blindly without his own research.
3- Forgetting the difference between Investing and Trading.
4- Investing in cheap stock considering more quantities can be bought without knowing the true worth..

Are you among the people who do the above mistakes, then it's time to realise the dip made.

Happy learning!

16/08/2021

Do you know the basic difference between FD and a Bond?
FD known as fixed deposit has a high safety of deposit as compared to Bonds. Bonds involve some sort of risk.

FD cannot be traded on Stock Exchange while Bonds can be traded on Stock Exchange.

Bonds with a high credit rating has less risk as compared to low credit rating.
Invest with the objective you have in your hand.

15/08/2021

Taxation is important to know as it affects lots of your investment decision.
In this write up I would be discussing taxation of Mutual funds for both Equity as well as Debt instruments - Long Term Capital Gains(LTCG) and Short Term Capital Gain(STCG).
EQUITY INVESMENT
STCG is a gain in which one redeem it's investment within 12 months. Any gain arising out of redemption is STCG. It is taxable @15%
LTCG is a gain in which redemption of the investments is done after 12 months. It is taxable @10% . Here it is important to know that gain above 100000/- is taxable in a F.Y. In case you have a gain of let's say 30000/- in a F.Y then no tax is to be paid in this case.

DEBT INVESTMENTS
STCG is a gain in which one redeem it's investment within 36 months. Any gain arising out of redemption is STCG. It is taxable as per the slab rate. For instance if a person falls in 20% Slab rate, STCG will be taxable at 20%.
LTCG is a gain in which redemption of the investments is done after 36 months. It is taxable at the rate of 20% with indexation benefit.

Some clarity is essential before investment in any category as taxation affects the investors decision.
Hope a little insight into this topic has gained your attention into the taxation of MF.

Happy learning!

14/08/2021

A lot of have general query whether Minor can invest in Mutual Fund?
Anyone under the age of 18 years can invest in Mutual fund with the help of a legal guardian or parents until the age of 18. The only condition is he should be sole account holder represented by legal gurardian/ parents.
It's a simple answer like an saving or any other account like ppf can be opened in the name of minor with legal guardian or parents as an operator until aged 18. Likewise SIP, STP, SWP can also be done by minor with the help of a legal guardian or parent.

Happy learning!

13/08/2021

In this article we will learn about benefits of ELSS (Equity Linked Saving Scheme). Some of them are cited below-
1. It gives a Diversified Portfolio to investor as these Mutual funds are equity oriented and invest up-to 65% of their portfolio in instruments such as shares.
2. Tax benefit up-to Rs 150000/-
3. It is very convenient to invest in ELSS as various offline and online modes are easily available.
4. It provides attractive returns in the long run as it is market oriented.
5. Some ELSS allows the investors to invest as minimum as Rs. 500.
6. Lowest lock in period ( only 3 years) as compared to other schemes in the market.

Happy learning !

12/08/2021

Alot of people generally have a query what happens to the deduction claimed earlier under section 80C the one which comes with a lock in period , if withdrawn.
The answer is simple. The benefit which was given will be withdrawn and the amount claimed earlier as a deduction will be added to the income of the year in which the lock in period condition is terminated.
Here are the few examples in which the minimum lock in period has to be adhered to in order to claim deduction under 80C and violation of which will withdraw the previously deduction claimed.
1. Where ULIP is terminated before 5 years.
2. Where house property is sold before 5 years.
3. Where deposit under Time Deposits is withdrawn before the expiry of 5 years.
4. ELSS is redeemed before the lock in time of 3 years.

Hope a little insight into this will help a lot of people who have a basic query regarding this.
Happy learning!

11/08/2021

Some important points of Section 80C. Let's have a look and understand the different parameters which are different from options available for deduction.
1. It is a deduction which reduces the Total Income of the assesse.
2. The present capping of total amount of deduction under this section is Rs 150000/-
3. Only an Individual and HUF can claim deduction under Section 80C.
4. They can be resident or Non Resident.
5. Cash contributions are allowed for claim U/S 80 C- It doesn't mean one should do the cash transactions.
6. Tuition fees for children is allowed that means for self it is not allowed.
7. Timing filing under section 139 is not mandatory to claim the deduction. It can be claimed in the year of payment.
8. Deduction can also be claimed at the time of assessment.

09/08/2021

There are many who wants to know the Risk Profile they fall in. In short how does one check there Risk Profile?
Risk Profile helps in knowing what category one fall in. Is it High, Moderate or Low.
While checking through some of the websites I found a site which helps in checking the Risk profile without asking for name, email id and phone number.

Check out ICICI Prudential Mutual Fund Risk Profile Calculator.
Know your Risk profile and accordingly decide your Investment Portfolio.

Happy learning!

07/08/2021

Today in this post I would be sharing various online and offline options of investing in Mutual funds.
Online/ Offline Options
1- Directly with Fund Houses
2- Mutual Fund Distributors
3- Registered Investment Advisor
4- Registrar and Transfer agents like CAMS Karvy
5- Banks

Online modes
Zerodha, Groww, Paytm money, ET money etc.

Do start investing early and take the benefits of compounding.
Happy learning.

06/08/2021

Do you know there are many types of SIP( Systematic Investment Plan)? In this write up you will get a fair amount of knowledge about various types of SIP. Let's discuss them one by one.
1- Flexible SIP- In this it allows you to vary the amount of your investments every month. If you don't want to invest a fixed amount and prefer more control over your investments, you can set up a Flexible SIP. It is basically suitable for people having Irregular Income.
2- Step up or Top up SIP- In this SIP contributions can be increased by a pretty determined fixed amount or a fixed percentage at periodic intervals in line with your financial goals and level of income. It is suitable for salaried persons.
3- Perpetual SIP- In this debit instructions are given to the bank until there is a stop instructions from the the Investor.
4- Trigger SIP- It is a facility in mutual fund which allows investors to redeem part or full amount or switch investment to another scheme automatically when it reaches a pre defined trigger point. A trigger can be set for both upside or downside events. Thus, the facility helps investors to reduce market risk to an extent.
5- Pause SIP- The SIP pause facility is an option granted by the mutual fund houses to discontinue the SIP temporary for a specified period and the SIP restarts after that period automatically.

Hope you learned about the types of SIP in a brief.
Happy learning!

12/07/2021

Why is Garuda the symbol of ICAI Logo? What made ICAI choose this bird out of so many elegant birds to be a part of its Logo?

A Garuda is known for lot of its strong qualities such as:

Strong Vision:
Even when it flies so high in the sky, it is able to spot its prey miles down somewhere on the ground hiding somewhere and quietly chases the prey, and once near, quickly attacks and grabs it.

Never giving up attitude:
A Garuda always makes sure whenever a prey is spotted, it will try its best to grab it before it escapes. Even if it fails in its attempt, it will never give up and again search for another one!

Clever, Attentive, Alert:
Garudas are clever, sharp and always alert. No other bird dares to attack it or mess with it, because it will never allow them to win and conversely will counterattack them back.

Elegance:
Garuda look always confident and attractive because with the ease with which it flies by spreading it wings without fluttering them much and making a sharp impression!

Chartered Accountants too resemble the qualities of Garuda, being clever, attentive, confident and show a different personality, thereby creating a strong impression!

06/07/2021

Reserve Bank of India has issued Circular dated 2nd July, 2021, which states that fixed deposits will not be automatically renewed and such matured deposits will get interest at rate which is lower of following two:
1. Rate of interest on saving account; or
2. Rate of interest agreed for such fixed deposit.

Hence, all are requested to note due dates of maturity of fixed deposit and get the same renewed on due date to avoid loss of interest.

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