Financial Consultant

  According to tax experts, there are a few amendments that individuals should take note of, from an income tax point of view,   Avaneesh Parasar The Government tabled certain amendments to Budget 2022 in the Lok Sabha today. The budget was originally presented on 1st February 2022. Following public and expert feedback, the Government generally introduces amendments in its budget proposals and these were introduced in the Lok Sabha today. According to tax experts, there are a few amendments that individuals should take note of, from an income tax point of view. 1. Loss return can also be updated Updated return is a provision introduced in Budget 2022 which allows individuals who may have missed out on declaring some income, to file an updated return within 2 years of the end of an assessment year. For example, if you miss out on declaring some income for FY 2021–22, this translates to AY 2022–23. You can file an updated return till FY 2024–25. The amendments tabled today exten...

  Tata Consultancy Services’ (TCS) share buyback offer had opened on Wednesday, March 9, 2022 which closes today,  Avaneesh Parasar Tata Consultancy Services (TCS) board in January approved a proposal to buy back upto 4,00,00,000 Stocks for an amount not exceeding ₹18,000 crore at ₹4,500 per share. TCS’ share buyback offer opened on March 9 and closes today. The share buyback program of India’s second-most valuable firm, has attracted a large number of shareholders. March 23, 2022 is the last date to tender  TCS shares  for the buyback. The entitlement ratio is 1 share for 7 shares held for retail shareholders whereas for the non-retail category it is 1 for 108 held. “Based on the current overwhelming response towards buyback from the retail shareholder, approx. acceptance ratio will be between 14% and 15%. Short-term investors must grab this opportunity and tender their shares. Even the long-term shareholders should tender their shares as the buyback is tax-free. Lo...

  India, the world’s third-biggest oil importer and consumer, ships in more than 80% of its crude needs and relies heavily on the Middle East,  Avaneesh Parasar India’s crude imports rose in February to 4.86 million barrels per day (bpd), their highest since December 2020, preliminary data from trade sources showed, as refiners cranked up runs to meet increasing demand on better refining margins. Oil imports  by Asia’s third-largest economy rose 5% from January and were up 24% from a low base in February 2021, when a refinery at Bathinda in northern India was fully shut for maintenance, data showed. Indian refiners typically buy oil two months ahead of processing. Refiners are raising runs to cash in on high margins to offset some of the losses incurred for selling fuels in the local markets. Some Indian refiners have also deferred maintenance shutdowns of units to gain from exports, while meeting rising local  fuel demand . Local fuel sales in India, the world’s thi...

  A recent ruling stated that pizza toppings should be taxed at a higher rate of 18% as compared to pizza, which is taxed at 5%,  Avaneesh Parasar A report on the fact that pizza toppings is set to attract more Goods and Services Tax (GST) than the pizza itself let to the very popular dish of Italian origin to trend for the longest on microblogging site Twitter for most parts of Tuesday. A recent ruling stated that pizza toppings should be taxed at a higher rate of 18% as compared to pizza, which is taxed at 5%. A report by  The Economic Times  said that GST rates on pizzas are decided on the basis of how they are prepared and where they are sold. This means, that pizzas prepared and sold at restaurants attract 5% GST, pizza that is home-delivered attracts 18% GST. It also stated that Pizza base bought separately, however, is taxable at the rate of 12% as per GST norms. The confusion arose after the Haryana Appellate Authority for Advanced Ruling (AAAR) has stated th...

  The government aims to sell 5% of its shareholding in the insurer through an offer for sale (OFS) to raise as much as ₹75,000 crore,  Avaneesh Parasar DELHI/BENGALURU  : Life Insurance Corp. (LIC) of India will go public in April instead of March as decided earlier, three officials aware of the change in plans said, as the ongoing market turbulence makes the government wary of rushing India’s largest initial public offering. The Centre is watching market volatility closely, and investor interest will be the key deciding factor for the timing of the IPO, the officials said on condition of anonymity. The government aims to sell 5% of its shareholding in the insurer through an offer for sale (OFS) to raise as much as ₹75,000 crore. “We will try to do the LIC IPO some time next month, maybe at the end of April. We don’t want to delay it much further. We have a window till 12 May,” one of the three officials cited above said, adding the government expects the market sentimen...

  The stock market next week: UP elections result will be announced on 10th March, which can work as major short-term sentiment for the market investors, believe experts,  Avaneesh Parasar Stock market next week:  Global markets are spooked with the events happening in Europe, which are causing volatility. FIIs have been sellers for almost 6 months now. Commodities, especially oil, coal, metals, agri-commodities are hitting highs across the board. These have a bearing on the market and are dampening Dalal Street sentiment. Their impact on markets is visible, with increase in volatility and declining equity prices. According to stock market experts, global inflation may continue to affect global secondary markets including Dalal Street in India. However, there are certain triggers, which market investors can’t afford to miss out. They listed out the below-mentioned top 5 triggers for stock market next week: 1] UP election result:  Speaking on the importance of Uttar P...

  With the ongoing tension and warlike situations in a part of our planet, i.e. Ukraine and Russia, the whole market is in an uproar. Investors of bonds, stocks, real estate, commodities, etc. are all worried about what to do in such situations. Which amongst short selling or buying more stocks from the market, is a much better option? Another one of the successful investors,  Avaneesh Parasar  is here with a simple answer for all the investors out there to invest successfully in such crucial times. Here are some of the tips that will provide you assistance to read the market properly and help you in making the right investment-related decisions: Check Out The History: Along with studying the market and the happenings around the world, an investor should also have deep knowledge about the historical sections of the market. Since  history tends to repeat itself,  the patterns of the market and the rise and drop in many stocks, bonds, etc. also follow a similar pa...

  The online hacking activist, or “hacktivist,” group Anonymous, whose adherents often disguise their identities with Guy Fawkes masks, is claiming responsibility for disruptions to Russian and Belarusian-backed websites.  Avaneesh Parasar The murky online group known as Anonymous appears to be wading into the Ukraine-Russia conflict by declaring it is at cyber war against President Vladimir Putin and the Russian government. Following Russia’s invasion of Ukraine, a Twitter post from an account named “Anonymous” — with 7.4 million followers and nearly 190,000 Tweets — summoned hackers around the world to target Russia. A post from the account on Feb. 24 stated the loosely connected global group was gearing up for action against the country — “and we will be retweeting their endeavors,” it said. In the days thereafter, posts by the account claimed responsibility for disabling websites belonging to the Russian oil giant Gazprom, the state-controlled Russian news agency RT, and n...