Dear Visitors,
Please feel free to post your query related to Investments,Finance, Marketing, Analysis etc under this post.
whenever I find time I will be glad to resolve the queries on first Come first serve basis upto my knowledge Standards.
I request let queries and solutions be more interactive rather than debate.
Thank you for your support.
I request you to spread my blog link among your contacts so that more can interact n learn/share new Ideas.
Thursday, June 30, 2011
Short term call updates
Dear Visitors,
I am sharing my Trading Ideas (Intraday calls, news based calls,Options calls) with relatives and friends. I may not be able to post those calls in this blog bcos of various constraints.
I feel Intraday, Option Trading is not advisable for newbees & corporates( Hectic work Schedule,No access for share trading etc).
Recently Short term call Mastek buy @ 110-11 for a TGT of 117 achieved today by Gods Grace.
I am sharing my Trading Ideas (Intraday calls, news based calls,Options calls) with relatives and friends. I may not be able to post those calls in this blog bcos of various constraints.
I feel Intraday, Option Trading is not advisable for newbees & corporates( Hectic work Schedule,No access for share trading etc).
Recently Short term call Mastek buy @ 110-11 for a TGT of 117 achieved today by Gods Grace.
WAS TOO BUSY-------------U MISSED MY WRITINGS?
Dear Blog visitors because of Busy schedule and personal works I couldnt update my blog.
I feel sorry for that.
I am back again.
With your Support and Gods Grace I will start updating regularly.
thank you for your patience.
I feel sorry for that.
I am back again.
With your Support and Gods Grace I will start updating regularly.
thank you for your patience.
Friday, March 25, 2011
Short term calls updates
By Gods Grace
Voltas achieved TGT giving 8.35% returns in less than 2 week
Sun Tv achieved TGT giving 8% returns in less than 2 week.
Voltas achieved TGT giving 8.35% returns in less than 2 week
Sun Tv achieved TGT giving 8% returns in less than 2 week.
Tuesday, March 22, 2011
Rocking Long term calls
By Gods grace our long term call Guj Fluro made new high. Till now 87% returns.Book Partial profits.
Tata coffe is making new high even in falling market. Call was given on December 13-2010...147% upside till now.... Book complete profits
Tata coffe is making new high even in falling market. Call was given on December 13-2010...147% upside till now.... Book complete profits
Thursday, March 17, 2011
How you can resolve your insurance grievances
Noted consumer activist Jehangir Gai has a story to tell: "A person had undergone three surgeries simultaneously, incurring a total cost of Rs 33,000. When the claim was lodged, the insurance company's third-party administrator held that though the surgeries pertained to three different body parts, these were conducted at the same time and, hence, the eligible claim was only Rs 10,000."
Despite explaining that the company would have had to shell out a higher amount had the insured decided to have the surgeries on different dates, the company refused to budge. "Ultimately, we approached the insurance ombudsman, who held that the eligible claim amount was Rs 30,000," says Gai.
This is not the only instance of insurance companies trying to wriggle out of their commitment to policyholders. But, like Gai, you no longer need to rely on the whims of insurance firms. Here's how you can resolve your grievances.
Round one
Most insurance companies offer various channels, branch office, phone, e-mail and snail mail, to register complaints. You can also approach the company's grievance redressal officer . Insurance companies have to send a written acknowledgement within three working days of receiving the complaint and specify the period within which it is likely to be resolved. If the complaint is resolved within three days, the insurer has to inform the individual along with an acknowledgement. If this is not possible, the company will have to resolve it within two weeks of receiving the complaint and send a final letter of resolution to the aggrieved.
If the insurance company decides to reject the complaint, it has to give a reason, along with information on further redressal avenues, that the complainant can pursue. In case you are not satisfied with the insurer's response, you have to inform it within eight weeks, or the company will assume that the complaint has been resolved.
Round two
If the above approach doesn't solve your problem, you can contact either Irda's Grievance Redressal Cell or the insurance ombudsman, depending on the nature of the complaint. The ombudsman can make recommendations within one month of the receipt of the complaint and give a verdict within three months. If necessary, he can award compensation to the policyholder.
If you are satisfied with the settlement, you have to send your acceptance within 15 days. If the insurance firm does not comply with the order, you can approach consumer forums or civil courts. These offices handle cases dealing with insurance contracts with a value of up to Rs 20 lakh. The ombudsman addresses issues related to rejection or delay in settlement of claims, disputes on premiums, and non-issuance of a document after collecting the premium.
Irda's Grievance Redressal Cell
Though this cell does not have the authority to pass orders, complaints addressed to it are taken up with the insurers. These could include delay or lack of response pertaining to policies or claims and complaints about agents' conduct. "Irda's toll-free number, 155255, has been publicised widely to create awareness about the recourses available to policyholders. You can approach the cell directly, and where required, you will be redirected to the ombudsman under whose jurisdiction the complaint falls," informs an official in the insurance ombudsman's office. You can get in touch with the cell via mail on complaints@irda.gov.in.
Despite explaining that the company would have had to shell out a higher amount had the insured decided to have the surgeries on different dates, the company refused to budge. "Ultimately, we approached the insurance ombudsman, who held that the eligible claim amount was Rs 30,000," says Gai.
This is not the only instance of insurance companies trying to wriggle out of their commitment to policyholders. But, like Gai, you no longer need to rely on the whims of insurance firms. Here's how you can resolve your grievances.
Round one
Most insurance companies offer various channels, branch office, phone, e-mail and snail mail, to register complaints. You can also approach the company's grievance redressal officer . Insurance companies have to send a written acknowledgement within three working days of receiving the complaint and specify the period within which it is likely to be resolved. If the complaint is resolved within three days, the insurer has to inform the individual along with an acknowledgement. If this is not possible, the company will have to resolve it within two weeks of receiving the complaint and send a final letter of resolution to the aggrieved.
If the insurance company decides to reject the complaint, it has to give a reason, along with information on further redressal avenues, that the complainant can pursue. In case you are not satisfied with the insurer's response, you have to inform it within eight weeks, or the company will assume that the complaint has been resolved.
Round two
If the above approach doesn't solve your problem, you can contact either Irda's Grievance Redressal Cell or the insurance ombudsman, depending on the nature of the complaint. The ombudsman can make recommendations within one month of the receipt of the complaint and give a verdict within three months. If necessary, he can award compensation to the policyholder.
If you are satisfied with the settlement, you have to send your acceptance within 15 days. If the insurance firm does not comply with the order, you can approach consumer forums or civil courts. These offices handle cases dealing with insurance contracts with a value of up to Rs 20 lakh. The ombudsman addresses issues related to rejection or delay in settlement of claims, disputes on premiums, and non-issuance of a document after collecting the premium.
Irda's Grievance Redressal Cell
Though this cell does not have the authority to pass orders, complaints addressed to it are taken up with the insurers. These could include delay or lack of response pertaining to policies or claims and complaints about agents' conduct. "Irda's toll-free number, 155255, has been publicised widely to create awareness about the recourses available to policyholders. You can approach the cell directly, and where required, you will be redirected to the ombudsman under whose jurisdiction the complaint falls," informs an official in the insurance ombudsman's office. You can get in touch with the cell via mail on complaints@irda.gov.in.
Ensure that you send the complaint yourself as the ones forwarded by third parties, including lawyers or agents, are not entertained by the cell. Also, the complaint should have complete information. So, disclose all the details in the complaints registration form available on Irda's website.
AT YOUR SERVICE
You must first register your complaints with the insurer. You can approach the ombudsman only if you have not received any feedback from the insurer or are not satisfied with the given response.
After you have received a copy of the ombudsman's recommendations and are satisfied with it, you have to send a written communication, indicating your acceptance within 15 days.
The ombudsman handles cases with a value of up to `20 lakh and has the authority to mediate and give a recommendation, or award compensation, which is binding on the insurer.
You can also get in touch with the Insurance Regulatory and Development Authority's Grievance Redressal Cell through a toll-free number (155255).
The ombudsman does not hear matters related to the conduct of agents. This can be taken up by Irda's Grievance Redressal Cell.
You can approach the civil and consumer courts directly to resolve your grievance. However, the ombudsman will not accept your case if it is pending with other courts.
AT YOUR SERVICE
You must first register your complaints with the insurer. You can approach the ombudsman only if you have not received any feedback from the insurer or are not satisfied with the given response.
After you have received a copy of the ombudsman's recommendations and are satisfied with it, you have to send a written communication, indicating your acceptance within 15 days.
The ombudsman handles cases with a value of up to `20 lakh and has the authority to mediate and give a recommendation, or award compensation, which is binding on the insurer.
You can also get in touch with the Insurance Regulatory and Development Authority's Grievance Redressal Cell through a toll-free number (155255).
The ombudsman does not hear matters related to the conduct of agents. This can be taken up by Irda's Grievance Redressal Cell.
You can approach the civil and consumer courts directly to resolve your grievance. However, the ombudsman will not accept your case if it is pending with other courts.
Curtesy: This article first appeared in ET
How you can make the best use of your LTA
If you were planning a trip to the hills this summer, it's a cinch that you will enjoy it more after reading this story.
For, we shall tell you how you can reduce your taxable income even as you have fun with your family. Yes, you can do this by availing of the leave travel allowance (LTA) that is part of your salary.
"The amount paid by an employer to an employee for travelling anywhere in India, along with his family, is exempt from tax subject to certain provisions," says Sunil Talati, former president of the Institute of Chartered Accountants of India.
Read on to know how you can make the best use of your LTA.
For, we shall tell you how you can reduce your taxable income even as you have fun with your family. Yes, you can do this by availing of the leave travel allowance (LTA) that is part of your salary.
"The amount paid by an employer to an employee for travelling anywhere in India, along with his family, is exempt from tax subject to certain provisions," says Sunil Talati, former president of the Institute of Chartered Accountants of India.
Read on to know how you can make the best use of your LTA.
What you are entitled to?
You may be entitled to a high LTA, but only the expenses you have incurred on travelling with your family within the country can be claimed as exemption under Section 10(5) of the Income Tax Act.
Expenses on hotel rooms, sightseeing, food, etc, cannot be included. This means that you cannot claim exemption for the money you spent on your stay at a five-star hotel.
The family can comprise your spouse, two children, brothers, sisters and parents, if they are dependent on you. "You cannot claim for more than two children unless the second birth has resulted in multiple children," says chartered accountant Paras Savla.
Don't think you can outsmart the taxman by taking a circuitous route to reach your destination. Expenses can only be claimed for travel by the shortest possible route.
Expenses on hotel rooms, sightseeing, food, etc, cannot be included. This means that you cannot claim exemption for the money you spent on your stay at a five-star hotel.
The family can comprise your spouse, two children, brothers, sisters and parents, if they are dependent on you. "You cannot claim for more than two children unless the second birth has resulted in multiple children," says chartered accountant Paras Savla.
Don't think you can outsmart the taxman by taking a circuitous route to reach your destination. Expenses can only be claimed for travel by the shortest possible route.
"Though it's difficult to crosscheck the route, the claim amount should reflect this. So, you can go from Tamil Nadu to Kerala, but you cannot go to Delhi from Tamil Nadu and then take a flight to Kerala to claim your expenses," says Rajesh Srinivasan, leader, global employer service, Deloitte India.
The tax exemption is limited to the fare component, which is economy class air fare, first class AC rail fare or first/deluxe class bus fare. However, if there is no public transport, you can hire a taxi or rent a car and claim for expenses equivalent to first class AC rail fare.
While most companies ask their employees to furnish proof of travel, such as boarding passes, tickets and rental receipts, some don't. Srinivasan says, "The Supreme Court has stated that the employer does not need to collect bills from his employees as proof to make the allowance tax-exempt." Your employer will certify the LTA exemption in Form 16.
The tax exemption is limited to the fare component, which is economy class air fare, first class AC rail fare or first/deluxe class bus fare. However, if there is no public transport, you can hire a taxi or rent a car and claim for expenses equivalent to first class AC rail fare.
While most companies ask their employees to furnish proof of travel, such as boarding passes, tickets and rental receipts, some don't. Srinivasan says, "The Supreme Court has stated that the employer does not need to collect bills from his employees as proof to make the allowance tax-exempt." Your employer will certify the LTA exemption in Form 16.
When you can claim your LTA?
Though you are paid the travel allowance in your salary every financial year, it can be claimed for only two journeys in a block of four calendar years, which are fixed. "The block of four years are considered according to the Income Tax Act and the current one is from 2010 to 2013," says Mumbai-based chartered accountant Mehul Sheth.
"So, if you are eligible for an annual LTA of Rs 20,000, you can claim exemption up to Rs 40,000 in a block. You cannot claim exemption of Rs 2 lakh even if you have actually spent that much," he says.
You can claim for two journeys in the same year, provided you make no more LTA exemption claims for the rest of the block. "The Act says twice in a block of four years," says Srinivasan.
If, however, you have not been able to travel during a block, you can carry forward the LTA exemption to the first year of the next block. This means you can claim for even three journeys.
"One can claim for three journeys subject to certain conditions. It is allowed for the first year of the new block, when you have carried forward exemption from the previous block. So, in the present situation you can claim in the first year of block that is 2010-2011, for a journey of previous block that is 2009. Plus you can make two more claims for this block (2010-2013)," says Srinivasan.
If both you and your spouse are eligible for LTA, you can claim exemption for separate journeys. What if there are only two journeys undertaken by the family in a block? You could consider dividing the expenses.
"The husband and wife can split the cost of the journey and claim them separately. However, there should be no duplication," says Talati. So, the husband can book the air tickets for one way and the wife can do so for the return journey.
The split can also be determined by the income slab of the husband and wife. "If the claim is to be made, it is better that the one who has a lower income does so. This is because it will not make much of a difference for the person with the higher salary to reduce his taxable income," says Srinivasan.
What if you don't claim LTA?
It's important to remember that when you are claiming exemption for LTA, it should be for the period when you were on leave. After all, you can hardly travel to Coimbatore while sitting in office. You can avail of the privilege or unpaid leave. Typically, the leave is sanctioned for five to eight days.
"If you do not provide a declaration to your employer to claim LTA, it will be added to your salary and taxed according to the relevant income tax rates," says Srinivasan.
However, if you forget to submit the proof of travel and your employer deducts tax on the LTA amount, you can claim exemption in your income tax return and you will get a refund.
Maximise the benefit
Getting a higher LTA entitlement can help reduce your taxable income. Says Srinivasan: "It makes sense for people who travel to far off places to have a bigger travel allowance as part of their salary."
Though LTA can be claimed only for journeys within India, many tour organisers offer trips where they integrate foreign holidays with LTA plans without letting you lose out on the tax benefit. For instance, Air India Holidays offers 'LTC Bonanza' from Chennai/Bangalore to Kashmir with a trip to Dubai included in the package. The 8-night, 9-day tour costs about Rs 1 lakh for a couple.
There are others operators who offer a Delhi-Thiruvananthapuram-Delhi trip, which includes a 3-night stay at either Singapore or Malaysia for Rs 52,500 per person, stating clearly that you are entitled to a Rs 40,900 exemption for the air fare to and from Thiruvananthapuram. Be it Kashmir or Kuala Lumpur, make sure you claim your tax exemption in this block year.
Curtesy: This article first appeared in ET
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