There is a Lunar Eclipse on the night of 31st December 2009! What a way to celebrate the New Year.
As per the Hindu practices, people used to stop eating atleast 3 hours before the start of the eclipse. Why? Is it a matter of superstition? or just a practice or has some science behind it? Why people are asked to stop eating atleast 3 hours before the start of the eclipse? Is it to fast and pray to God?
I believe that it is not because of some superstition or so. It is proved scientifically that...
Recent notification on taxing the perquisites - More on the topic
In my last post on the taxing the employees on the perquisite (which was earlier taxed as FBT). Some of my friends wanted more clarity on this. I am giving my interpretation and anyone has to plan their salary package, better check with their tax consultants or their auditors before doing so.
Let me discuss some of them.
(a) Provision of meals to employees during the office hours
Under the FBT rules, it was exempted. But now they have brought in the perquisite valuation back. Upto Rs.50 per...
Season's Greetings
Friends,
It was a wonderful year (2009) for me and hope for many too. The economy started reviving and the Stock Market bounced back from the steep slide.
I wish you all a Merry Christmas and a Happy New Year.
I wish the New Year will bring in eternal Happiness, Prosperity, Joy, Peace, Success in our life.
Like 20-20, 2010 will a successful...
GST Task Force recommendation - Implementation may be delayed!
The Thirteenth Finance Commission’s taskforce on the proposed goods and services tax (GST) has recommended a 5 per cent central GST and 7 per cent state GST on all goods and services, except five specific categories. It has proposed a zero rate for exports though it is not in favour of any special dispensation for the special economic zones (SEZs).
For inter-state transactions, the taskforce, in its report, recommended zero-rated structure through adoption of the modified bank model. Pending constitutional...
GST - PM's Economic Advisory Committee favors single slab for Goods & Services
In my earlier posting, I have mentioned the salient points of the recommedations by the Empowered Committee of the State Finance Ministers (EC).
Last week the Prime Minister's Economic Advisory Committee (PMEAC) headed by C.Rangarajan favoured a single slab each for goods and services or one common rate for both under the proposed goods and services tax (GST), unlike the proposal mooted by the states.
Rangarajan said,"The Centre could follow the pattern in which there is only...
Do return on Investments have link to the Moon phase?
Read an article on the link between moon phase and the return on investment. Sounds silly. Here you go....
Macquaire Securites team of 14 senior market analysts scrutinised the data of 32 leading indices around the world. The data pertains to few decades (since 1988).
The finding : A strong surge in returns was seen leading into the turn of the month.
It means, the 2 days on either side of the new month represent most of the Positive returns on equity markes for next four weeks. Of...
Hurray.....Schumi is back !! Sadly.....Tiger is away !!!
Can't hold myself ! The World Champion turned Consultant is now back to the grid. It is not just a sport. You need to manage the vehicle, plan your moves, take quick decision (in milli seconds), plan your pit stops etc., to make sure you are finishing and that too first!
His management skills on the wheels is known to all. Unfortunately, he is not representing Ferrari. He has signed up with Mercedes. Whatever team he may represent, he is a master in that sport, undoubtedly.
With Tiger Woods...
Monetary Policy - What the RBI will do?
We have the Reserve Bank of India (RBI) to come out with the next review of the Monetary policy by the end of January 2010. With the expansionary policy last year, the RBI was able to do some justice. The indicators currently points towards reversing or taking back the expansionary policy in the coming review. This may put a cap on the rising prices.
The current liquidity position is good, so we can expect an increase in the interest rates. Whoever looking out to invest in Housing...
Now the perquisites are to be taxed that too effective from April '09
As you are aware that the Fringe Benefit Tax (FBT) was abolished in the recent Finance Bill, which paved way for more tax in the hands of the employees. The taxability has been shifted from the Employer to the employee. This will have an impact on the tax to be deducted from the employees in the coming months till Mar 2010.
According to the new rule, which was notified on Friday (18t-Dec-09) by the Central Board of Direct Taxes (CBDT), the perks like ESOP, residential accommodation, free conveyance,...
Is it worth investing in Gold now?
Gold had a fantastic bull run during the current year (2009) and people started investing in this category apart from the normal Equity markets. I read an article in the Equitymasters, that the Gold's Bull run may continue in the future also. I earlier suggested that one should have Gold as part of their investment portfolio, as it will not let you down. The article is written by Porter Stansberry, chief of the leading US-based private publishing company, Stansberry & Associates Investment Research....
GST - Get...Set....Take-off
Here I am with an update on what is happening on GST (Goods & Services Tax).
What is GST?
GST stands for Goods & Services Tax. It will replace Excise Duty, Customs Duty, Sales Tax, VAT, Services Tax, Luxury Tax, Entertainment tax, Cesses charged by States, etc.,). Stamp Duty, Toll Fee, Passenger Tax, Road Tax are not part of the GST. It will be a simplified tax, which can be easy to administer across the states in India.
As you know that the Government is keen in rolling out...
Back after a Gap
Friends,
Apologies for not posting during the last few weeks. Occupied with some official work. Here I am with the postings, with lot of interesting things happening. I may be covering the following during the next 2 weeks:
GST - Recommendation by the empowered committee
GST - What the PM team wants
Is it good to invest in Gold
Where the Stock Market is heading?
Taxing the perquisites - Only 3 months remaining
Monetary Policy - current situation and expectation
Any other thing that crops up during...
Telangana like incident - Impact on our economy
When the world is looking at consolidation, only Indian politicians can think of disintegration. All done for political mileage or camouflaging the situation. Thanks to the media, the citizens are now aware of what is happening in the country. When the government announced that they will consider splitting Andhra into 2, I was shocked. What an Idea sirji !
What will happen when you have two states in the place of one. Two elections ! If in case the government is minority,...
Corporate Governance
Currently the corporate governance stressed more for the listed companies. Lot of compliances, disclosure requirements are there for listed companies, by way of the listing agreements. These are not applicable to the unlisted public companies.
The Ministry of Corporate Affairs (MCA) is trying to introduce Governance Code for the unlisted companies too. The proposed Companies Bill 2009 may ask the unlisted companies to follow specific norms of governance in line with the SEBI's code on Corporate...
ICAI elections !
Friends,
The ICAI council elections are around the corner. Please cast your valuable vote. I am not canvassing for any candidates. I want each and every one of us to exercise our rights.
It is disheartening to see people blaming the Council members. It hurts more, when you know that the member blaming has not exercised his vote.
Remember, it is we who elect the council members. So, go through the profiles of the candidates before voting. Make up your mind and consciously vote for that...
IFRS - Phased implementation in India
I attended a two day IFRS workshop last week. It was really good. With the deadline for IFRS implementation nearing and in another 4 months the comparative period will start, we need to gear up for the IFRS adoption / convergence / migration (you can choose whatever you feel).
What India Inc is going to do? It was decided to go in phases and key representative from various industries are picked up for the I phase. Nifty companies, banking, insurance companies are pulled into the I phase.
The first...
Cox & Kings - IPO is it a good bet?
With the recent IPOs not cheering up the investors, COX & KINGS are confident in getting into the market with their IPO. With the market being in an uptrend, would it give a thumbs up for the IPO? Let us see how the issue is, through an SWOT analysis.
Strength:
200+ years in the industry
Presence in many countries around the world
Well known in the industry
Weakness:
Not having a good financial track record
The recent performance is not good
The collection period is very high
IPO proceeds deployed...
Weekly Digest 16 Nov 09
Contents:
Public sector banks roll out the red carpet for MBAs
Understanding how hedging works!
Bill Gates, Warren Buffett on surviving the fin crisis
India to be $2-trillion economy by 2014-15
SFIO to begin Satyam prosecution soon: Khurshid
Domestic BPO mkt to touch $6.82 bn by 2013: IDC
Public sector banks roll out the red carpet for MBAs
When he took over as the chairman of Union Bank, M V Nair was one of the youngest entrants to the corner office of a public sector bank. So it’s natural that...
Weekly Digest 08 Nov 09
Contents:
Legal & Tax
EPFO proposes salary cap rise to Rs 10,000
Economy
PM pushes for reforms, says will exit stimulus
India would've grown at 7% had monsoon not played truant
EPFO proposes salary cap rise to Rs 10,000
The Employee Provident Fund Organisation (EPFO) has sent a proposal to the labour ministry to increase the salary limit for paying employee provident fund (EPF) to Rs 10,000 from the current Rs 6,500.
It has also proposed covering companies with a minimum of 10 employees...
What the CEO Wants You to Know - by Ram Charan
This is a wonderful book, which talks of the fundementals of a business, either small, medium or large.
For those who are running a business, they may be knowing the fundementals of the business - how to run, advertise and face the everchanging situations.
This book is for the new generation entrepreneurs, middle level managers who are aspiring to go up in the corporate ladder.
Ram wants the corporate executives to break the sylo mentality and look at the bigger picture on how the business works....
Good news for those who want to invest in ULIP !
It is learnt that the Load Charges on Unit Linked Insurance Plans (popularly known as ULIP) is set to go after April 2010.
Currently an investor is charged upto 40% of the invested amount in the first year of inverstment and only the balance 60% is invested in his name. This load is being used to pay the commission to the broker/agents.
In a move to increase the returns to the investors, increase the insurance cover base and to prevent the mis-selling the financial products, the High-Level...
No LTA for employee using car or taxi, say Central Govt.
Saw this notification relating to LTA, announced by the Central Government on 3-Nov-09. Looks like:
They want to make Govt carriers (Indian Airlines & AirIndia) usable
This notification is applicable only to Central Gove Employees
State Govts may follow soon.
Private sector employees are escaped from travelling in IA & AI :-)
Here is the notification:
The government will not sanction any Leave Travel Allowance (LTA) for an employee who uses personal car or taxi as mode of transport.
However,...
Weekly Digest 01 Nov 09
Contents:
Business
He became an entrepreneur while at high school
Wim Elfrink: Global Culture Is Respect For Time Zones
Economy
India is more prosperous than China - Legatum Prosperity Index
Second Quarter review of Monetary Policy for the year 2009-10
Money & Market
Inoperative Current / Savings Bank A/c - RBI Clarification
Cash flow statement: What it tells you?
He became an entrepreneur while at high schoolClick HERE to read the story of a successful businessman who did not...
Listing of IndiaBulls Power shares in NSE
Here goes the listing of IndiaBulls Power share in NSE today (30-Oct-09)
Open price Rs. 45.05
High Rs. 45.05
Low Rs. 35.35
Vol 143,094,006 shares (till 2.30pm)
The shares got listed at Rs.45.05 (the issue price and that was the highest price reached so far today @ 2.30pm). It immediately fell to Rs.35...
50th Post - DEDICATED TO YOU ALL
I just realised that I have made so far 49 postings in this blog and want to dedicate this 50th post to YOU ALL. I feel really happy and thankful to you all for the support and guidance all throughout this 9 months. Of late, I have made it a point to make regular postings to the blog.
The statistics is as follows:
First Blog Posting : 25th Jan 2009 on IFRS
Visitors so far : 5800+
Indiblogger ranking - 73 (higher the better). Was 49th earlier.
I get lot of mails on Stock Market....
Getting connected - Power of Internet !!!
Orkut, Facebook, Linkedin, Twitter......you can add sites to the list ! These sites help people to get connected, socially. During my school, college & start of my career, there were no internet facility or emails. We were working on DOS - not Denial of Service, Disk Operating System. No windows even. Because of that, I could not be in touch with most of my friends (School, College, past employements)
Why we need to get connected? You will realise the power of networking and joy of getting...
Do you know about ASBA?
You might of seen IPO advertisements saying that ASBA facility available for the IPO. What is this ASBA? ASBA stands for - Applications Supported by Blocked Amount.
It is a process by which your money is in your account only and being blocked (by your authorisation) to the extent you applied for the IPO. You cannot use the blocked amount, till the allotment is over. Once the allotment is over, the bank will release the amount pertaining to your investment and release the hold on the balance...
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