India has truly become a tax haven. If you are willing to take market-related risks, you can arrange your affairs in such a fashion that you don't have to pay even one single rupee as tax, irrespective of the extent of your gains.
And, it's all perfectly above board and legal! Here's how.
With a view to giving a boost to the Indian equity market, successive recent finance ministers have doled out many tax concessions to the income and gains from:
Shares traded on a recognised stock exchange in India, and Equity-based mutual fund schemes (equity funds).Now, all you have to do is to park all your investible funds in either of these two avenues -- and relax.The dividends are tax-free, and so are all long-term capital gains. The only question that needs an answer is -- which of the two avenues should you choose?
Read rest of it here...
http://www.rediff.com/money/2007/jun/22tax1.htm
Friday, August 3, 2007
Thursday, July 19, 2007
Free Tax Filing in India ITR Forms (ITR1 and ITR2)
http://www.simpletaxonline.com - A free service from CTE Ltd for Tax Paying Community in India
Wednesday, July 11, 2007
Everonn IPO - Grey market premium more than 100%
Everonn systems IPO is a very good one and rated 5 stars by CNBC TV18. But till now it has been over-subscribed by 19 times. But in Non-institutional category it is not oversubscribed that much (unlike retail category). So who wants to get a better luck in the allotment, and wanted to subscribe near 1 Lakh, it's better to subscribe for little more than a lakh and in Non-instituitional category. I subscribed for 1400 @ Rs. 140 bid.
See Everonn profile at http://www.moneycontrol.com/stocks/pickoftheweek/equityreportfinal.php?eqid=ESI04
Good Luck and happy investing!!
See Everonn profile at http://www.moneycontrol.com/stocks/pickoftheweek/equityreportfinal.php?eqid=ESI04
Good Luck and happy investing!!
Monday, July 9, 2007
Sunday, July 8, 2007
Investment product galore - July, 2007
What's coming up this July, 2007:
1.Reliance Equity Advantage Fund - closing July 10th
2. HDFC Sensex Plus Fund - opening shortly (similar to Reliance Equity Advantage Fund)
3. Nifty-Linked Debentures (Index Linked Debentures) Series-3 From ICICI Prudential PMS.
4. IndiaReit (Real Estate Venture Fund) Series II - from Nicholas Piramal Pharma Group - closing July 15th for minimum Rs.25 lacs (First Series has returned over 45% in the first year)
5. DSPML Global Mining Companies Fund - closing July 25th (Details yet to be formally launched)
6. Fixed Maturity Plans (Yields falling however to 7.8% to 8.3% - with higher yields at 370 Days plus)
7. Birla Capital Protection Plan
8. Franklin Templeton Fixed Term Plan above one year.
9. UTI Lifestyle Fund (managed by Anoop Bhaskar - ex-Fund Manager Sundaram BNPP Select Midcap Fund.closing July 25th.
10. Sundaram BNP Paribas Global Opportunities Fund - Directly managed by BNP Paribas Asset Management - Opening shortly.
11. ICICI Prudential India Real Estate Portfolio with a Portfolio Management Scheme (Stand-alone) this time from ICICI Prudential AMC PMS) - not from ICICI Ventures - with Investment Committee covering the best of brains from Foreign and Indian Realty players.
12. Peninsular Realty Venture Fund.
1.Reliance Equity Advantage Fund - closing July 10th
2. HDFC Sensex Plus Fund - opening shortly (similar to Reliance Equity Advantage Fund)
3. Nifty-Linked Debentures (Index Linked Debentures) Series-3 From ICICI Prudential PMS.
4. IndiaReit (Real Estate Venture Fund) Series II - from Nicholas Piramal Pharma Group - closing July 15th for minimum Rs.25 lacs (First Series has returned over 45% in the first year)
5. DSPML Global Mining Companies Fund - closing July 25th (Details yet to be formally launched)
6. Fixed Maturity Plans (Yields falling however to 7.8% to 8.3% - with higher yields at 370 Days plus)
7. Birla Capital Protection Plan
8. Franklin Templeton Fixed Term Plan above one year.
9. UTI Lifestyle Fund (managed by Anoop Bhaskar - ex-Fund Manager Sundaram BNPP Select Midcap Fund.closing July 25th.
10. Sundaram BNP Paribas Global Opportunities Fund - Directly managed by BNP Paribas Asset Management - Opening shortly.
11. ICICI Prudential India Real Estate Portfolio with a Portfolio Management Scheme (Stand-alone) this time from ICICI Prudential AMC PMS) - not from ICICI Ventures - with Investment Committee covering the best of brains from Foreign and Indian Realty players.
12. Peninsular Realty Venture Fund.
Friday, July 6, 2007
ICICI Bank IPO - Allotment status can be found here
http://www.chittorgarh.com/stockmarket/ICICI-fpo-allotment-status.asp
Friday, June 29, 2007
DSPML World Gold Fund - investing in Gold mining companies through an International Fund
Just wanted to share an exciting new product which will shortly be available from DSP Merrill Lynch which is a formidable alternative to ETFs. The details will be sent out as we hear more but these are the salient features:
Name of the Scheme: DSPML WORLD GOLD FUND investing in Gold mining companies through an International Fund.
Open-ended Fund which closes 27th July 2007 with Growth and Dividend options.
So far not available to Indian Investors - Accessing one of the Largest Funds in its category (Merrill Lynch International Investment Funds - World Gold Fund having corpus of USD 5405 Million.
How has been the performance of MLIIF-World Gold Fund?
Out-performed Gold (Bullion Investment) by 268% and S&P CNX Nifty by 127% (in absolute terms) between 1994 - 2007.
Just to give an example, an investment of Rs.1 lac on 30-Dec 94 would have given the following Absolute Returns and CAGR in the following:
S&P CNX Nifty - Abs.Return 263.35%, CAGR 10.94%
Gold Bullion - Abs.Return 122.86%, CAGR 6.66%
FTSE Gold Mines (Cap) Index - 47.19%, CAGR 3.16%
MLIIF - World Gold Fund - 390.71%, CAGR 13.66%
More than 12 years of performance track record - AUM of Rs.22017 crores (USD 5405 Million)
AAA rated- S&P Fund Research, AAA rated- Forsyth Partners
What are the other salient points?
A "Best Ideas" rather than benchmark driven portfolio
Invests in Gold (no less than 80% at any time) mining companies which are listed, besides Diamond mining companies, Silver mining companies, and Platinum mining companies - situated in South Africa, North America, China, Latin America, Europe, Australasia and Former Soviet Union.
Correlation with MSCI World Index is -0.11 (negative) and Correlation with S&P 500 is 0.07 (negligible) making it a good case for Asset-Class diversification beyond Indian Equities, Commodities, Debt, Physical Gold and ETFs, Real Estate and International Equities.
Why invest in Shares of Gold Mining Companies?
Because of negative or negligible correlation with stock market as outlined above.
Gold prices are going up due to increasing demand-supply gap
Shares of Gold Mining Companies are leveraged to the gold price, possibility of superior performance and dividends.
Gold Mining Companies have a multiplier effect on their profits vis-a-vis Gold price (To illustrate, today's gold prices are around USD 650 per troy oz. but the cost of production for mining companies has almost been stagnant for the last several years at USD 550 per troy oz.).
Increase in Gold price by 23% leads to increase in profits of Gold Mining companies by 150% according to base case and other scenarios.
M&A Activity in the Gold Mining Sector is rising which leads to premium ratings on growth stocks - Drivers behind consolidation remain and private equity is starting to take interest.
How is it different from Gold Bullion and Gold ETFs?
In Gold Bullion, you buy physical gold, participate in gold fundamentals with passive management with lot of liquidity but no diversification
In Gold ETFs, you buy physical gold kept with custodian (Certificate of Holding etc), participate in Gold fundamentals with passive management with daily liquidity but no diversification.
In DSPML World Gold Fund - you invest in Gold Mining Companies through MLIIF-World Gold Fund, participate in gold fundamentals, with ACTIVE management, with daily liquidity but achieve geographical diversification, exposure to other precious metals and also have value unlocking of stock ratings and re-ratings.
All in all, a good diversification and one of the most differentiated products on alternative investing strategies.
Name of the Scheme: DSPML WORLD GOLD FUND investing in Gold mining companies through an International Fund.
Open-ended Fund which closes 27th July 2007 with Growth and Dividend options.
So far not available to Indian Investors - Accessing one of the Largest Funds in its category (Merrill Lynch International Investment Funds - World Gold Fund having corpus of USD 5405 Million.
How has been the performance of MLIIF-World Gold Fund?
Out-performed Gold (Bullion Investment) by 268% and S&P CNX Nifty by 127% (in absolute terms) between 1994 - 2007.
Just to give an example, an investment of Rs.1 lac on 30-Dec 94 would have given the following Absolute Returns and CAGR in the following:
S&P CNX Nifty - Abs.Return 263.35%, CAGR 10.94%
Gold Bullion - Abs.Return 122.86%, CAGR 6.66%
FTSE Gold Mines (Cap) Index - 47.19%, CAGR 3.16%
MLIIF - World Gold Fund - 390.71%, CAGR 13.66%
More than 12 years of performance track record - AUM of Rs.22017 crores (USD 5405 Million)
AAA rated- S&P Fund Research, AAA rated- Forsyth Partners
What are the other salient points?
A "Best Ideas" rather than benchmark driven portfolio
Invests in Gold (no less than 80% at any time) mining companies which are listed, besides Diamond mining companies, Silver mining companies, and Platinum mining companies - situated in South Africa, North America, China, Latin America, Europe, Australasia and Former Soviet Union.
Correlation with MSCI World Index is -0.11 (negative) and Correlation with S&P 500 is 0.07 (negligible) making it a good case for Asset-Class diversification beyond Indian Equities, Commodities, Debt, Physical Gold and ETFs, Real Estate and International Equities.
Why invest in Shares of Gold Mining Companies?
Because of negative or negligible correlation with stock market as outlined above.
Gold prices are going up due to increasing demand-supply gap
Shares of Gold Mining Companies are leveraged to the gold price, possibility of superior performance and dividends.
Gold Mining Companies have a multiplier effect on their profits vis-a-vis Gold price (To illustrate, today's gold prices are around USD 650 per troy oz. but the cost of production for mining companies has almost been stagnant for the last several years at USD 550 per troy oz.).
Increase in Gold price by 23% leads to increase in profits of Gold Mining companies by 150% according to base case and other scenarios.
M&A Activity in the Gold Mining Sector is rising which leads to premium ratings on growth stocks - Drivers behind consolidation remain and private equity is starting to take interest.
How is it different from Gold Bullion and Gold ETFs?
In Gold Bullion, you buy physical gold, participate in gold fundamentals with passive management with lot of liquidity but no diversification
In Gold ETFs, you buy physical gold kept with custodian (Certificate of Holding etc), participate in Gold fundamentals with passive management with daily liquidity but no diversification.
In DSPML World Gold Fund - you invest in Gold Mining Companies through MLIIF-World Gold Fund, participate in gold fundamentals, with ACTIVE management, with daily liquidity but achieve geographical diversification, exposure to other precious metals and also have value unlocking of stock ratings and re-ratings.
All in all, a good diversification and one of the most differentiated products on alternative investing strategies.
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