The Income Tax (I-T) Department is probing Future and Options (F&O) brokers, bogus entry players and beneficiaries of these bogus trades for evading long term capital gain (LTCG) tax."I-T department conducted searches on brokers and beneficiaries over the past two days, and it may continue for another couple of days," a source close to the development told Moneycontrol.Searches were mainly conducted in Kolkata, Mumbai, Hyderabad, Delhi, Ahmedabad and Jaipur after the I-T intelligence and criminal cell detected illiquid option trades.Close In October 2018, the Central Board of Direct Tax (CBDT) had written a letter to SEBI seeking information on the same. SEBI had in FY14-15 passed an order in regard to the matter. related news Kia to launch Carnival MPV in 2020 Wipro launches cyber defence centre in Melbourne, Australia The action comes after reversal of trades were detected in around 14,000 entities in the illiquid … [Read more...] about I-T Department probing fraudulent F&O brokers, beneficiaries
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HDFC Asset Management Company share price declined 4.7 percent intraday on December 5 after the company said it will use a greenshoe option for sale of additional 0.86 percent stake via offer for sale (OFS).The two-day offer for sale issue has opened for subscription on December 4 only for non-retail investors and today, it will remain open for retail investors as well.The floor price for the issue has been fixed at Rs 3,170, a discount of 7.88 percent to Tuesday's closing price.Close Standard Life Investments, the promoter of the company, told exchanges that it has proposed to sell up to 47,50,000 equity shares through offer for sale (representing 2.23 percent of the total paid-up equity share capital) of HDFC Asset Management Company, with an option to additionally sell up to 38,50,000 equity shares (representing 1.81 percent). related news Rate-sensitive stocks trade mixed after RBI keep interest rates unchanged ICICI Bank share price hits record high; analysts say … [Read more...] about HDFC AMC promoter to sell additional stake via OFS; share price falls 4%
Moneycontrol BureauThe Reserve Bank of India (RBI) left the repo rate unchanged in its December policy review while maintaining accommodative stance, as it expects past monetary easing and measures taken by the government to feed into the real economy gradually.All six members of Monetary Policy Committee (MPC) voted in favour of a pause, the central bank said in a statement on December 5.Close To catch all the action from the Monetary Policy Meet, click here related news RBI Credit Policy | To issue draft norms for cooperative banks to strengthen safety of deposits Households expect inflation to rise, businesses see weak demand: RBI survey RBI Credit Policy | Monetary Policy Committee raises consumer inflation target for October-March to 4.7-5.1% Following are the key takeaways from the monetary policy:On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (December 5, 2019) decided to:- … [Read more...] about RBI Monetary Policy: A quick read of the policy document
What is happiness?1 How do you create it in your own life?2 And why are the Danish people so much happier than the rest of us?3 Should we live like them?4 advertisement advertisement This is the great, existential question that our hygge-obsessed Western culture has been asking itself for roughly half a decade now. And Ikea Denmark has decided to weigh in in a six-part miniseries called Home of Happiness. Starring two everyday people seeking happiness for themselves—a young woman named Yaya Ching from Hong Kong and Chicagoan Roy Torres—the pair of strangers actually won a contest to live (awkwardly!) together in an Ikea-gasm apartment in Copenhagen while interviewing different Danes about what makes them so happy. It’s about 40 minutes of miniseries full of big wine glasses, big bike baskets, big pastries, and big, blond toddlers. You can watch it right on YouTube! I tried. I really did. I drew a bath, pulled up the series on my phone, and … [Read more...] about Ikea reveals the secret to happiness, and it’s not furniture
Liquid mutual funds are mutual funds that invest in debt instruments and money market instruments. Liquid funds have a tenure of up to 90 days i.e. nearly three months. However, if you are an investor putting in your money in liquid funds, you need to know that you can only invest up to Rs 10 lakh.The NAV of the liquid fund is calculated for 365 days, whereas the NAV of other funds is calculated only on the basis of business days. Benefits of liquid Mutual FundsHere are the key advantages of liquid funds which make them an attractive option for the investors:Close Minimal lock-in period - Lock-in periods can range from 3 days to 3 months maximum. This means that you have access to instant liquidity in case of any emergency. You can sell the units without any hassle without any exit load. related news CIC issues show-cause notice to RBI for casual approach to its notice Japan government approves economic stimulus package to combat overseas risks Oil rises as OPEC … [Read more...] about Liquid Funds: What are Liquid Mutual Funds in India?