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Rajiv Gandhi Equity Savings Scheme, 2012 (RGESS)

January 27, 2013 2 Comments

To encourage the flow of savings of small investors into the domestic capital market, the Government of India announced a scheme named Rajiv Gandhi Equity Savings Scheme, 2012 (RGESS) in the last budget.Also a new section 80 CCG under the Income Tax Act, 1961 on ‘Deduction in respect of investment under an equity savings scheme’ was introduced to give tax benefits to “New Retail Investors”who invest up to `50,000 in ‘Eligible Securities’ and have a gross total annual income less than or equal to Rs.10 Lakhs.

A ‘New Retail Investor’ for the purposes of this scheme is defined as is any Resident Individual

who has not opened a demat account and has not made any transactions in the equity or derivative segment as on the date of notification of the scheme i.e., November 23, 2012. OR
who has opened a demat account as a first holder, but has not transacted in the equity or derivate segment till November 23, 2012.OR
who has a demat account as a joint holder.

Our New Bankers?

January 23, 2013 6 Comments

When the RBI issues New Banking Licences,these are some corporates who are likely to make the mark.No bank is better than its promoters.So go through the table below and then decide if you want to deposit your money with these people or avail of their banking services. wealthymatters.com

Filed under Paper Assets, Tool Kit Tagged with Aditya Birla Financial Services, Anand Mahindra, Bajaj Finserv, Cyrus Mistry, DK Mehrotra, Gagan Banga, Indiabulls Financial Services, Kumar Mangalam Birla, L&T Finance, LIC Housing finance, M&M Financial Services, Malvinder Singh, Mukesh Ambani, new banking licences for corporates, postaday, R Thyagaragan, Rahul Bajaj, Reliance Capital Anil Ambani, Reliance- DE Shaw, Religare Finserv, Shriram Transport Finance, Tata Capital, YM Deostalee

Davos Prophesies

January 23, 2013 2 Comments

wealthymatters,com If you are inclined to follow the news reporting of the WEF-2013,do so by all means but don’t take everything that is said seriously.

There might be something as the wisdom of the crowds,but the “wisdom” gained from the sound bytes generated from some of the billionaires and the financial ,political and academic elite gathered at Davos,Switzerland may not be the most accurate.

The predictions that emanate from Davos always have a ring of plausibility to them because of the credibility of the speakers. But all too often they fall short. Here is one example: Bill Gates has made the pilgrimage to the Alps for more than a decade and made a series of somewhat famous – or infamous – predictions in that time.When asked about Google back in 2003, he didn’t have an upbeat outlook on the company’s future nor its founders. “These Google guys, they want to be billionaires and rock stars and go to conferences and all that,” Gates said. “Let us see if they still want to run the business in two to three years.”

To the left are other such projections. Not all turned out wrong,but even people who got one thing right got other things wrong.So watch the Alpine scenery and the power show,go to Switzerland if you must ,these days its become pretty cheap,but don’t take everything you hear as serious investment advice.

Filed under Paper Assets, Tidbits, Tool Kit Tagged with Bill Gates, Billionaires, Davos 2013, Davos predictions, Davos Prophesies, Davos Switzerland, George Soros, Google Guys, Nouriel Rubani, postaday, WEF Predictions, WEF Prophesies, WEF-2013, Wisdom of The Crowds James Surowiecki, World Economic Forum

The Importance Of Values

January 22, 2013 2 Comments

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Filed under Entrepreneurship, Paper Assets, Philanthropy, Tool Kit Tagged with Anita Roddick Quote, corporate values, postaday, values

Avoiding Inheritance Tax

January 16, 2013 2 Comments

wealthymatters As the wealthy in India take precautions against the reintroduction of inheritance tax,two methods are proving popular to avoid this much-feared tax.

One is to transfer assets to investment firms owned by heirs.

Another is to set up trusts in which the heirs become beneficiaries.

Since the inheritance tax or estate duty is a tax on the transfer of wealth after a person’s death, no duty is attracted if the assets are transferred to entities or vehicles that are not persons.