Debt mutual funds to lose LTCG benefit: Should you still invest? Should you rush before financial year ends?
A proposed government amendment seeking to remove Long Term Capital Gains Tax benefit from debt mutual funds, gold funds, international fund of funds, etc will prompt debt investors to now weigh their decisions entirely based on gross return and merit, instead of tax arbitrage. The government has reportedly introduced an amendment in the Financial Bill for the upcoming financial year 2023-24, which will treat all gains, from mutual funds that have less than 35% of money in equity, as short term capital gains. The Bill will be tabled in the Parliament today, and if approved, this rule change will apply to investments made from 1 April 2023 onwards. At present, long-term capital gains on debt funds are taxed at either 10% without the indexation benefit or 20% with the indexation benefit.
STT hike clarified: Govt raises Securities Transaction Tax on options sale to 0.062% from 0.05%; corrects typo
The Finance Ministry has clarified that it has raised Securities Transaction Tax on the sale of options to 0.062% from 0.05%, ET Now reported citing sources. This a 25% increase. An earlier version of Finance Bill passed in Lok Sabha today had incorrectly said that options sale STT was raied to Rs 2100 from Rs 1700 per Rs 1 crore turnover. This led to confusion in the market as traders discovered the existing STT is already levied at a higher rate of Rs 5000 per Rs 1 crore. On the options side, the STT is charged on the premium and not the strike price.
Guaranteed income plans: Pros and cons you should know before buying
There has been a spurt in new guaranteed income plans offered by life insurance companies recently. In the last four weeks, several life insurers including Tata AIA, HDFC Life, ICICI Pru Life and Aditya Birla Sun Life have come up with their versions of guaranteed income plans that promise guaranteed payouts at predetermined intervals against the payment of certain premiums. Following are the pros and cons of these plans that may help you make a better decision.
How many KitKat chocolates did Nestle sell in 2022? Here’s what it did to drive India business growth
FMCG major Nestle has said that its India business growth has been driven by getting the pricing right for 1,2,4 finger bars chocolates, and expanding product distribution to small shops in the nook and corner of the country. Nestle said in its Annual Report 2022 that its ‘popular and affordable’ Munch chocolate has continued to attract new consumers through affordable ‘price point management’ and an interactive digital campaign with the IPL. Further, the annual report mentioned Nestle’s Kitkat chocolate saying that it is continuously attracting new consumers by appealing to local needs and tastes. Nestle sold over 5 billion Kitkat bars globally in 2022, and has 85+ countries with direct sales.
Gold attracts new buyers as market remains nervous post-Fed meet; Investors advised to wait for dip
Gold has touched $2000 on fear of further banking turmoil and the Fed’s message about a potential pause in tightening. Gold is attracting new buyers as many traders remain nervous post-Fed and over how quickly will U.S. authorities be able to contain further banking turmoil. The ETF buyer is also supporting gold, with the Bloomberg data showing that gold-backed ETFs added more than 300,000 ounces in the last trading session, marking the biggest daily gain since last June. Retracting the US dollar is also working in favour of gold as now Fed is not going to raise rates from here on.
领英推荐
Motovolt acquires stake in Germany’s eROCKIT, plans to introduce its global EV tech in India
Kolkata-based e-mobility start-up Motovolt has made an initial investment of a million euro (Rs 9 crore) in German EV start-up, eROCKIT for an undisclosed stake. It is interesting to note that in November 2022,?Motovolt had raised Rs 16 crore?in pre-Series A funding to be utilised for new product introduction, marketing initiatives and expanding its presence in India.
This marks Motovolt’s first step towards expanding their footprint globally for sales and distribution of its electric mobility solutions. The initial investment is aimed at strengthening the product development and production of eROCKIT’s?premium models at their manufacturing site in Berlin, Germany.
Meet Radha Vembu, the richest self-made woman who earns Rs 8 crore per day; Know about her net worth & lifestyle
Radha Vembu, the sister of Zoho CEO and co-founder Sridhar Vembu has managed to climb a whopping 103 ranks over the last year and has become the second richest self-made woman in the world from software and services. The list includes 247 self-made women, with 81 percent of them from China.
Hyundai’s entry-level micro SUV testing begins?in?India – What we know so far
Hyundai is readying its next product for India, a micro SUV that will sit below the Hyundai Venue in the carmaker’s lineup for India. Originally, speculations suggested that Hyundai will bring the Casper to India, however, with the recent sightings, we can confirm that it is not the Hyundai Casper, but a new vehicle.
Called the Hyundai Ai3, the micro SUV will have a different name when launched and here’s what we know about the new Hyundai micro SUV so far.