MUMBAI: Share brokers may have to deduct 10% tax at source on transaction charges that they pay to stock exchanges for online trading, according to a court order. The move will have a bearing on thousands of brokers who will now have to pay TDS along with interest for delayed payment. Transaction charge is a […]
Parliament panel set for extensive consultation with RBI, other stakeholders. The issuance of new banking licences in the private sector may not come soon, with the Parliamentary Standing Committee on Finance expected to hold extensive consultations with the Reserve Bank of India (RBI) and other stakeholders on the proposed guidelines. A standing committee member told […]
MF Global Holdings, which filed for bankruptcy protection this week, became the US’ first casualty of the 17-member Eurozone debt crisis. The company, led by Jon S Corzine, former Goldman Sachs head and US senator, took bets on bonds floated by Italy, Spain, Belgium, Portugal and Ireland in 2010, a time when US financial companies […]
Most of us deal with a single person when it comes to our investments. He/she normally informs us about company fixed deposits and bonds. When we want to invest in mutual funds, we go by what the person recommends. The same applies to insurance policies as well. All we have to do is sign on […]
The government’s plans to have a uniform duty structure for stock market transactions may fructify soon, with the finance ministry planning to table the Indian Stamps Act (Amendment) Bill), 2011, in the coming session of Parliament. A finance ministry official said comments had been received on the draft and most state governments were on board. […]
Gold exchange-traded funds (ETFs) witnessed record trading on Dhanteras, a day considered auspicious for buying the yellow metal. More than 2,550 kg worth of gold ETFs were traded on the exchanges this Dhanteras, taking the total value of trade to more than Rs 650 crore in a single day, nearly 8.5 times higher than last […]
As high as 40% of the policy premium in the first year on traditional products while 7-12% in Ulips, are paid to agents as commisssion. But once the policy gets running, the agent loses interest in serving the policy holder. So, to ensure that customers are serviced, the commissions could be rear-ended and paid at […]
Company Sundaram Asset Management Company Limited Scheme Sundaram CPO Fund 5Y Series3 NFO Opens on 18-Oct-11 NFO Closes on 31-Oct-11 Minimum Investment Rs. 5000 Initial Offer Price Rs.10 About An Open Ended Gold Exchange Traded Fund Scheme will invest in 70-100% in Fixed income security & MMI, 0-30% in Equity & Equity related instrument Objective […]
Company IDBI Asset Management Ltd. Scheme IDBI Gold ETF NFO Opens on 19-Oct-11 NFO Closes on 2-Nov-11 Minimum Investment Rs. 10000 Initial Offer Price Rs.10 About An Open Ended Gold Exchange Traded Fund Scheme will invest in 95-100% in Physical Gold and track Gold prices, 0-5% Debt & Money Market Instruments Objective To invest […]
Country 6th-highest contributor to global wealth growth; average household wealth triples in 10 yrs to Rs 2.70 lakh. At a time when the civil society is at the throat of the Planning Commission for its Rs 32-a-day cut-off for the poverty line, a study has revealed the dollar millionaire club in India is expected to […]
