Shekhar Sinha (ApnaWealth)

Tuesday, 29 November 2016

Proud on OUR PM !!

Why FIIs want short-term capital gains to be scrapped

FIIs fear short-term capital gains would give rise to tax uncertainty and make their operations difficult, reports Pavan Burugula from Mumbai.

Abolishing the tax on short-term capital gains may provide a boost to capital markets and, in turn, help attract investment. Photograph: PTI Photo.

Foreign institutional investors (FIIs) have written to the finance ministry and the Securities and Exchange Board of India (Sebi) demanding that short-term capital gains be scrapped.

Instead, the FIIs want the government to impose higher securities transaction tax (STT) on their trades.

FIIs fear tax changes such as the re-negotiated double-tax avoidance agreement (DTAA) with Mauritius and implementation of general anti-avoidance rules (GAAR) -- both of which come into effect from April 1, 2017 -- could complicate things for them.

In their letter, reviewed by Business Standard, the FIIs said short-term capital gains would give rise to tax uncertainty and make their operations difficult. Although overseas investors based out of tax-friendly jurisdictions can still avoid short-term capital gains, legal experts say the wide reach of GAAR could still bring taxmen’s lens on such transactions.

The letter written by FII lobby Asia Securities Industry and Financial Markets Association (Asifma) has warned that such tax uncertainty could lead to a ‘significant drop’ in FII flows and also lower the revenue for the government arising out of STT.

According to the letter, foreign investors in India have been availing the benefits of DTAA. “Currently, there is no clarity on how GAAR will apply to FPIs (foreign portfolio investors) availing DTAA benefits. The potential for GAAR to be invoked to override the provisions of a DTAA and impose short-term capital gains, interest and penalties of up to 200 per cent causes uncertainty for FPIs and impacts the ease of doing business in India.”

A committee set up by the government on GAAR headed by Parthasarathi Shome had made a similar suggestion in its report submitted in 2012.

“Currently, the revenue on account of capital gains taxation under Section 111A is very small compared to the overall direct taxes collection. On the other hand, such a measure -- abolishing the tax on short-term capital gains -- may provide a boost to capital markets and, in turn, help attracting investment.”

Legal experts say the apprehension of FIIs over capital gains tax is understandable. “Current taxation laws treat FPIs as a single taxpayer as all their trades are done through a single demat account. However, a majority of FPIs are not funds themselves but asset managers or pooling vehicles for numerous investors. Hence, transferring the tax liability to the end beneficiary becomes complicated for FIIs,” said a source.

Recently, Sebi had come up with the proposal to allow FPIs hold multiple demat accounts to address such tax computation concerns. However, the proposal was shot down by the government as it was in conflict with certain tax laws.

Monday, 28 November 2016

Shekhar's Tech -Nifty intraday 28/11/2016

			T1	T2	T-3	T-4	T-5
Buy at/above	8122.5	Targets:	8141.0	8163.6	8186.2	8208.8	8231.4
Stoploss Buy:	8100.0
			T-1	T-2	T-3	T-4	T-5
Sell at/below:	8100.0	Targets:	8081.6	8059.1	8036.7	8014.3	7991.9
Stoploss Sell:	8122.5
For latest update visit : https://www.facebook.com/ShekharTechnical/ Long 1- 2nd target DONE

Sunday, 27 November 2016

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No need to stand in LINE to know your balance and mini statement 👍

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Dial * 99# to do basic Banking instantly. One can check balance for accounts, mini statement where the mobile number is registered & no internet required. Below are the direct codes for banks:

* 99* 41#-State Bank of India
* 99* 42#- Punjab National Bank
* 99* 43#-HDFC Bank
* 99* 44#-ICICI Bank
* 99* 45#-AXIS Bank
* 99* 46#-Canara Bank
* 99* 47#- Bank Of India
* 99* 48#-Bank of Baroda
* 99* 49#-IDBI Bank
* 99* 50#-Union Bank of India
* 99* 51#-Central Bank of India
* 99* 52#-India Overseas Bank
* 99* 53#-Oriental Bank of Commerce
* 99* 54#-Allahabad Bank
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* 99* 57#-Corporation Bank
* 99* 58#- Indian Bank
* 99* 59#-Andhra Bank
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* 99* 61#- Bank of Maharashtra
* 99* 62#- State Bank of Patiala
* 99* 63#- United Bank of India
* 99* 64#-Vijaya Bank
* 99* 65#-Dena Bank
* 99* 66#-Yes Bank
* 99* 67#-State Bank of Travancore
* 99* 68#-Kotak Mahindra Bank
* 99* 69#-IndusInd Bank
* 99* 70#- State Bank of Bikaner and Jaipur
* 99* 71#- Punjab and Sind Bank
* 99* 72#-Federal Bank
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* 99* 87#- Abhyudaya Co-Operative Bank
* 99* 88#-Punjab & Maharashtra Co-operative Bank
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* 99* 90#- Gujarat State Co-Operative Bank
* 99* 91#- Kalupur Commercial Co-Operative Bank.

Also, u can dial * 99* 99# to know your Aadhaar linking and Over Draft Status.

☝🏼 Most useful message..

Shekhar's Tech -Nifty intraday 25/11/2016

			T1	T2	T-3	T-4	T-5
Buy at/above	8032.6	Targets:	8051.0	8073.5	8096.0	8118.5	8141.0
Stoploss Buy:	8010.3
			T-1	T-2	T-3	T-4	T-5
Sell at/below:	8010.3	Targets:	7991.9	7969.5	7947.2	7925.0	7902.7
Stoploss Sell:	8032.6

For latest update visit : https://www.facebook.com/ShekharTechnical/

Long 1-
2nd target DONE

Shekhar's Tech -Nifty intraday 24/11/2016

			T1	T2	T-3	T-4	T-5
Buy at/above	7987.9	Targets:	8006.2	8028.6	8051.0	8073.5	8096.0
Stoploss Buy:	7965.6
			T-1	T-2	T-3	T-4	T-5
Sell at/below:	7965.6	Targets:	7947.2	7925.0	7902.7	7880.5	7858.3
Stoploss Sell:	7987.9