Which is Better - Gold ETFs or Sovereign Gold Bond or Physical Gold - Features & Taxation
Gains from sale of gold ETFs or gold mutual funds are taxed similarly as that of the physical gold
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FinMin to give in-principle approval for UTI Mutual Fund IPO soon
FinMin to give in-principle approval for UTI Mutual Fund IPO soon
Country's oldest fund house UTI Mutual Fund may revive its initial public offer (IPO) plan after Finance Ministry's nod which is expected soon.
"There is proposal for IPO of UTI Mutual Fund and the Finance Ministry is looking at it. The Ministry after consideration can give in-principle approval for public offer," sources said.
Government has stake in the UTI Mutual Fund through public sector banks and insurance companies. State Bank of India, Punjab National Bank, Bank of Baroda and LIC holding stake in UTI Mutual Fund on behalf of government of India.
State Bank of India, Punjab National Bank, Bank of Baroda and LIC jointly owns 74 per cent stake in the fund house while remaining 26 per cent stake is with the US-based investment firm T Rowe Price.
In 2008, UTI Asset Management Company deferred its IPO ownin g to uncertain market conditions. The fund house had proposed to sell 4.8 cror
FM's solution to fiscal deficit: Earn now, spend next year
Among the finance ministry's efforts to contain the fiscal deficit this year, it appears, is some financial jugglery. Much of the additional expenditure is being rolled over to next financial year, while the tax and dividend income to accrue next year is being brought forward into this year's books. The aim is to ensure the fiscal deficit 'red line' drawn by Finance Minister P Chidambaram — of 4.8 per cent of gross domestic product — is not breached.
Tax officers are reportedly asking companies to make higher advance tax payments and, if their actual profits turn out to be lower than projections, take refunds next year. If refunds are high, this would mean an extra burden on the next government, as the finance ministry pays interest at 0.5 per cent per month, or six per cent a year, on refunds to taxpayers. For companies, this means the money that could have been invested elsewhere lies idle.
Companies make advance tax payments in four instalments — in June, Sept
Great
ReplyDeleteI do have DHFL NCDs which were AAA rated.
ReplyDeleteWhat is the fate of that now? Is selling them online bearing a huge loss advisable ?
If those were secured NCDs cant we get atleast the amount invested?