Making Know-Your-Client process easier for investors, Sebi today cleared a proposal to allow various market entities such as brokers and mutual funds to get investor details from centralised KYC agencies, rather than carrying out a fresh KYC verification procedure. Presently, there is an option available to a market intermediary that it may access the centralised […]
Leading life insurance companies such as HDFC Life, Birla Sun Life and ICICI Prudential have shown interest in purchasing HSBC’s stake in its three-cornered JV with two public sector banks. Two people with direct knowledge of the development said advisors to HSBC have approached the insurance companies, and the matter is under consideration. http://economictimes.indiatimes.com/personal-finance/insurance/insurance-news/top-insurers-eye-hsbcs-stake-in-canara-hsbc-obc-life-insurance/articleshow/18507068.cms.
Comparision of RGESS with the top tax saving schemes available in India: RGESS ELSS PPF Eligibility Annual Income less than 10 lakh. None None Lock-in Period 1+2 3 years 15 Years Tax Benefits 50% (80 CCG) 100% (80 C) 100% (80 C) Maximum Investment for Deduction Rs.50,000 Rs.100,000 Rs.100,000 Minimum Investment NA Rs.500 to Rs.5000 […]
Rajiv Gandhi Equity Savings Scheme (RGESS) Who can invest in RGESS? New retail investors with an annual income of less than 10 lakhs. How much can I invest? The maximum amount eligible for claiming benefit under RGESS is Rs. 50,000. Tax Benefit Deduction u/s 80 CCG, is available on 50% of the amount invested. The […]
The Rajiv Gandhi Equity Savings Scheme (RGESS), the new tax-saving mutual fund product, could become open-ended and eligibility to invest in these could be relaxed if the finance ministry accepts the sector’s suggestions. Finance Minister P Chidambaram said on Saturday the Union budget could make some announcements to simplify RGESS to attract more retail investors. […]
Hopes among investors and equity bourses of a reduction in the securities transaction tax (STT) have recieved a further boost, with some even expecting that the government might abolish the tax on delivery-based transactions in the cash segment. This is after Finance Minister P Chidambaram’s remarks on Saturday that the government was considering measures to […]
Hopes among investors and equity bourses of a reduction in the securities transaction tax (STT) have recieved a further boost, with some even expecting that the government might abolish the tax on delivery-based transactions in the cash segment. This is after Finance Minister P Chidambaram’s remarks on Saturday that the government was considering measures to […]
At least 2,500 complaints are lying with the Insurance Ombudsman’s office here for a decision. And, it will take more than a year to clear these. Reason: There is no ombudsman. The post has been vacant since October 2012. Given the backlog, it could take up to a year to clear just the pending cases, […]
The Indian insurance industry is looking for remunerative tax incentives from the Union Budget 2013-14 to boost sales volumes and increase penetration of insurance into the market. While on one hand, life insurers are looking for separate deduction limits for long term insurance products, non-life insurers are hoping for special exemption categories for home and […]
The Indian insurance industry is looking for remunerative tax incentives from the Union Budget 2013-14 to boost sales volumes and increase penetration of insurance into the market. While on one hand, life insurers are looking for separate deduction limits for long term insurance products, non-life insurers are hoping for special exemption categories for home and […]
