Castrol India, to launch next-generation immersion cooling fluids for use in data centres.Castrol India, to launch next-generation immersion cooling fluids for use in data centres.
Spread the love
11 / 100

15 Feb 2024


Sensex 72,050.38 ▲ 0.32%
Nifty 21,910.75 ▲ 0.32%


PSU bank and oil & gas stocks were the top gainers today.

FMCG sector stocks fell the most.

Most American, European, and Asian markets also closed in the green.


More…

India’s trade deficit (imports minus exports) stood at $17.5 billion in Jan, lower than $19.8 billion in Dec. Exports rose 3.1% year-on-year. Imports increased by 3%.

India’s UPI and Nepal’s National Payments Interface (NPI) will be integrated. This will enable low-cost remittance transfers.

The Supreme Court has declared electoral bonds invalid.

Gujarat International Finance Tec-City (GIFT) recorded a total banking asset size of $52 billion in Jan 2024.

PayU is collaborating with National Payments Corporation of India (NPCI) for launching ‘Credit Lines on UPI’ feature on its platform.


Stocks in the news

Tejas Networks: received Rs 27.78 cr worth of incentives in FY23 under the PLI scheme for telecom gear.

NMDC: recorded a 15% increase in its iron ore production, reaching 12.22 million tonnes In Oct-Dec 2023.

Coal India: entered into an MoU with Haryana Power Purchase Centre, with plans to buy 800 MW of power from Mahanadi Basin Power Ltd (MBPL).

Lupin: has launched Ganirelix Acetate injection after approval from USFDA.


IPO Corner

Vibhor Steel Tubes: subscribed: 298.86 times. Retail subscription: 188.17 times. Most subscribed IPO in 2024 so far.


Word of the Day

Remittances

Transfer of money or resources from one person to another across international borders is called remittance.

These transfers are usually done by migrants who send money back to their home countries.

Remittances can be sent through various channels, including banks, and online payment platforms.

Remittances play a crucial role in the economies of many countries, particularly in developing nations.


6-Day Course

Theme: tax on mutual funds

Day 4: Thursday

We explained what STCG and LTCG are in Tuesday’s course.

On Wednesday, we explained how tax works in the case of equity mutual funds.

Debt mutual funds:

STCG tax on profits made in less than 3 years is taxed according to a person’s income tax slab.

LTCG tax on profits made in more than 3 years is taxed at 20% with an indexation benefit.

From April 1, 2023, the rules changed.

All gains from debt mutual funds after April 1, 2023, will be taxed based on the investor’s income tax slab.

In short, it’ll be added to your annual income and you have to pay tax accordingly.


Featured Question

“The final dividend is declared in the next FY. So when it must be considered as income and when to consider it for taxation i.e in the last FY for which final dividend was declared or when it is received in the next year? Y?”

It does not matter when the dividend is declared. The date on which it reaches your account is what matters.
Let’s say you own shares of a company ABC.

ABC declared a dividend of Rs 8 per share on 28th March 2023.

The dividend amount was credited to your account on 9th April 2023.

So you will consider 9th April for calculating tax.

Note: in India, the financial year is from 1st April to 31st March of the next year.

Example: the financial year starting on 1st April 2023 and ending on 31st March 2024 is called FY 2023-24.

So if you look at the case we explained above, the dividend was declared in FY 2022-23.

But the dividend reached the bank account in FY 2023-24.

So you will include this dividend when you file your tax for FY 2023-24.

The concept of financial year (FY) can confuse newer investors a bit.

Please re-read the above examples to understand better.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

As you found this post useful...

Follow us on social media!

By earn

You Missed

WP Twitter Auto Publish Powered By : XYZScripts.com
MUTUAL FUND SIP MONEY TRIPPLE IN 10 YEARS FII DATA 18 SEPTEMBER MIDCAP AND SMALL CAP SHARES SELL MARKET LIVE
Advanced analytics tool. Articles on this site may include embedded content (e. Catering dietetyczny bydgoszcz.