21 February 2012
GIFT RECEIVED FROM HUF IS NOT TAXABLE BY : CA A. K. JAIN Rajkot Bench of ITAT in the case of Vineetkumar Raghavjibhai Bhalodia v. Income tax Officer, Rajkot has discussed the controversial issue of taxability of gifts from HUF to its members. The issues taken up were 1. Whether a gift received from 'relative', irrespective of whether it is from an individual relative or from a group of relatives is exempt from tax under provisions of section 56(2)(vi)? Answer: Held, yes. 2. Whether HUF is a grou...
Read more →17 February 2012
By Warren Buffett In an adaptation from his upcoming shareholder letter, the Oracle of Omaha explains why equities almost always beat the alternatives over time. FORTUNE -- Investing is often described as the process of laying out money now in the expectation of receiving more money in the future. At Berkshire Hathaway (BRKA) we take a more demanding approach, defining investing as the transfer to others of purchasing power now with the reasoned expectation of receiving more purchasing power --...
Read more →10 February 2012
New Page 1 EXPECTATIONS FROM FINANCE BUDGET, 2012 The Finance Minister may consider following amendments to be incorporated in his budget presentations on 16th March, 2012. Direct Taxes - 1) Threshold limit should be raised from Rs. 180,000/- to Rs. 3,00,000/- for all assesses. 2) Agricultural income over Rs. 5,00,000/- should be taxed at flat rate of 15%. 3) Bank, Post Office interest should be exempted upto Rs. 50,000/-. 4) Saving limit should be raised from Rs. 1,00,000/- to Rs. 2,00,000/-. 5...
Read more →18 January 2012
Debt Funds-An Ideal Investment Among Fixed Income ProductsBy : Nimesh Shah(The author is the MD and CEO of ICICI Prudential AMC) The growth of mutual fund industry in India has been fuelled by equity and debt oriented schemes. These are the only two asset classes where a wide variety of products have been made available. The other asset classes are yet to play their part. Unlike equity products which thrive on the notion of long term, higher risk and commensurate returns; debt mutual fund produc...
Read more →13 January 2012
CURRENCY DEVALUATION HAMMERS INDIA BY : CA A. K. JAIN The year 2012 has begun with catastrophic affect for the rupee. It was Rupees 43.96 against a dollar in the July 2011 and now for $1 it is Rupees 54.3. Rupee hits all time low in January 2012. This kind of decline will have the sweeping impact on the macro economy of the country, as we are heavily dependent on the import of oil, food items and other crucial raw materials. The year 2012 has begun with catastrophic affect for the rupee. It was...
Read more →11 January 2012
PricewaterhouseCoopers faces a record fine of £1.4 million and has been severely reprimanded for failing to realise that client money had not been properly protected at JPMorgan Securities, a regulator said on Friday. The regulator reduced the fine from £2 million to £1.4 million for cooperation and other mitigation, but the regulator originally wanted to hit PwC with a penalty running into tens of millions of pounds. The case brought by the Accountancy and Actuarial Discipline Board (AADB) – pa...
Read more →6 January 2012
Russia Underperformed In Indian Economy: Moscow Professor Singapore, Sept 24 (PTI) Economic relations between Russia and India have been slower than expected, given that the two powerhouses have very close diplomatic and military relations, a Russian professor has said.There were advantages for Russia to participate in India''s huge potential of developing business and investment relations, but Moscow''s focus has remained limited due to their investment policy restrictions, Dr Dmitri Trenin, ch...
Read more →2 January 2012
By : Jeyarajan.R Finance: When we talk about finance whether it is limited to money or something more than money, to decide we have to consider the following points. As many activities are associated with finance, like savings, paying, giving or getting credit, these activities can be done without the use of money just like what we done during barter system. Further money just like other goods or services can be bought and sold i.e., when we day a person earn a sum of money, means, he sold his s...
Read more →31 December 2011
All About XBRL By: Mr. Gurvinder Sing INTRODUCTION XML stands for extensible markup language. Extensible means language that can be extended by anyone who wants to create additional ways to use it. Markup means that XML’s primary task is to give definition to text and symbols. Language means that XML is a method of presenting information in understandable formats. XBRL was created with a view to develop a consistent method of reporting business event information. The initial goal of XBRL is to p...
Read more →30 December 2011
Do's & Don'ts in the Stock Market By Ramalingam K Let’s introduce do’s and don’ts of investing: Most of us have our own perception of investment based on our experiences, but also tend to be confused with the opinions given by others. Knowing the do’s and don’ts of the stock market would help us turn really as a smart investor. The do’s and don’ts in the stock market are: Slow, steady, and boring wins the race: It is best not to panic over information about stocks on the media. Being slow and st...
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