Indian Stock Market News and Views.
Archive for July, 2009
New Income Tax Rates and Slabs
Jul 6th
Following are the new tax rates and slabs:
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Men below 65 years of age
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Up to Rs 1,60,000
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NIL
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Rs 1,60,001 to Rs 3,00,000
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10% of the amount by which total income exceeds Rs 1,60,000
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Rs 3,00,001 to Rs 5,00,000
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Rs 14,000 plus 20% of the amount by which total income exceeds Rs 3,00,000
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Rs 5,00,000 and above
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Rs 54,000 plus 30% of the amount by which total income exceeds Rs 5,00,000
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Women
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Up to Rs 1,90,000
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NIL
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Rs 1,90,001 to Rs 3,00,000
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10 per cent
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Rs 3,00,001 to Rs 5,00,000
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20 per cent
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Rs 5,00,000 and above
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30 per cent
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Senior Citizens
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Up to Rs 2,40,000
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NIL
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Rs 2,40,001 to Rs 3,00,000
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10 per cent
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Rs 3,00,001 to Rs 5,00,000
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20 per cent
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Rs 5,00,000 and above
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30 per cent
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Source : Economic Times
Budget 2009-10 On July 06
Jul 5th
The new UPA government is bringing its first budget of the Govt tomorrow. Needless to say that the economic situation is tough in here. Many experts believe that the budget is mainly focused on structural reform that will boost growth. The main focus is expected to boost the agriculture, infrastructure and telecom sectors. India’s fiscal deficit has grown sharply with the stimulus packages that were announced pre election to boost the economy. The defence budget has also seen increased spending on the wake of the terror attacks.
The fiscal deficit is estimated to be grown to 6.2% of GDP for the year ended March 2009 which made it double the governments target of 2.5% which makes it the highest in two decades. The Govt is clear on the stands that India will achieve 7% growth and it is also aware of the dangers that rise in the fiscal deficit would cause. Anyway its just one way head for the day the whole of India and the investors over the world are watching to see the Budget 2009-10.
The new UPA government is bringing its first budget of the Govt tomorrow. Needless to say that the economic situation is tough in here. Many experts believe that the budget is mainly focused on structural reform that will boost growth. The main focus is expected to boost the agriculture, infrastructure and telecom sectors. India’s fiscal deficit has grown sharply with the stimulus packages that were announced pre election to boost the economy. The defence budget has also seen increased spending on the wake of the terror attacks.
How to get the best home loans
Jul 2nd
We always get the best homes, a home is a dream for every man, and to own a home is a privilege too, There will only be a small portion of people who will buy a home with full cash, mostly the people would have to take on a home loan. Loans are often having too much papers and signatures and we hate them, but when in need we do not have any other option but just to go with the tide.
We can take some steps which would help us with our home loans. First thing that you would need to find is the budget for your home, you can make this idea by taking into consideration about how much money you can afford how much is your income and what is your expense, how much money you now have as savings and how you are going to manage your down payment. This is one of the most crucial step and all your plans are entirely depended on this decision.
Good Dividends even if the company is making loss
Jul 1st
The share holders of Tata Motors are happy due to the fact that they have paid a good sum as dividend to the share holders, Its not the only company that has done this there are also other companies that have followed this pattern by paying high dividend. Blue chip companies like Dr Reddy’s Lab, Aditya Birla Nuvo, Punj Lloyd these companies have 15-125% range even after they have recorded losses in the range of Rs.225 cr to Rs.2505 cr.
The companies would not be able to provide dividends if the company is making continuous losses, according to the company law the management can decide to declare dividend if there happens to be a loss or profits are inadequate, by transferring the previous years profit reserves.
The share holders of Tata Motors are happy due to the fact that they have paid a good sum as dividend to the share holders, Its not the only company that has done this there are also other companies that have followed this pattern by paying high dividend. Blue chip companies like Dr Reddy’s Lab, Aditya Birla Nuvo, Punj Lloyd these companies have 15-125% range even after they have recorded losses in the range of Rs.225 cr to Rs.2505 cr.
The companies would not be able to provide dividends if the company is making continuous losses, according to the company law the management can decide to declare dividend if there happens to be a loss or profits are inadequate, by transferring the previous years profit reserves.
Shriram Properties IPO
Jul 1st
Shriram Properties part of the Shriram Group which is based in Chennai, has appointed Macquarie and Enam Financial Consultants as advisors for the proposed Rs 500-700-crore initial public offering. This would be the first reality company to hit the market
s after the withdrawl of Emmar MGF. Sun Apollo, Citigroup and Starwood Capital are the main investors in the Rs 460 crore Shriram Properties. 80% is held with the promoters, the IPO is expected to hit the market around the third quarter of the current fiscal. The company is also exploring the private placement route to raise capital if the IPO fails.
