Thursday, 13 December 2012

[www.keralites.net] Govt. Justifies reduction in Commission to Small saving Scheme Agents

 

Reduction in Commission of PPF agents to make the Schemes more Investor Centric than Agent Centric

The recommendation of Shyamala Gopinath Committee regarding agents' commission was to reduce commission of 0.5% on Senior Citizens Saving Scheme (SCSS) and 1% on PublicProvident Fund (PPF) to zero, reduce 4% commission under Mahila Pradhan Kshetriya Bachat Yojana (MPKBY) to 1% in a phased manner and to reduce 1% commission for all other schemes under Standardised Agency System (SAS) to 0.5%. The Government, after consulting all the stakeholders and the representations received, has decided to reduce the commission under PPF and SCSS to zero and under SAS to 0.5%. However, commission under MPKBY continues to be at 4% for the time being.
The main intention of these recommendations is to make these schemes more investor centric than agent centric.
Representations of Small Savings Agents' Association from various states including Mumbai were received in the past. Taking into account large number of representations received from Small Savings Agent's Associations, Members of Parliament, other dignitaries and others, the Government accepted most of the recommendations of the Committee.
This was stated by the Minister of State for Finance Shri Namo Narain Meena in a written reply to a question in the Rajya Sabha today.
Best Regards
Prakash Nair 
www.keralites.net

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[www.keralites.net] New IPO rule to woo the retail investor

 

SEBI announced new Initial public offer (IPO) rules for retail investors. Now for distributing the shares toretail investor, number of application count instead of number of shares applied for. SEBI wants more and more investor to enter in the stockmarket. Government is doing all its efforts for call people in the share market. The two new announcements 
1- Basic service demat account(BSDA)
2- Rajiv Gandhi equity saving scheme 
Is the part of it. Now this rule will definitely woo the investor for the primary market specially those who forgot to invest in the IPO afterReliance Power failure in 2008.
 
What is new rule?
 
The new rule is that the company will count no. of application for allot the shares to the retail investors instead of number of shares applied for.
 
Old rule
Old rule was the company will count no. of shares applied and distribute the shares according to it. Like the IPO subscribed 12 times in retail category. There is always a lot system in IPO market. If one has subscribe for IPO with higher limit (Which is 2 lakh now), he applies for 18 lot estimate. The company will give shares 1.5 lot to that investor. In other words the issue price is 100 rupees and lot of 100 shares. The lot price is 10000. One can apply for 19 lots means can apply for 190000 rupees application. If the issue subscribe 10 times, the investor will get 190 shares for his application.
 
New rule with example
New rule is that no. of application will count.  So in this case issue subscribe will come with the no. of application and not with no. of shares. Like in one IPO the no of shares are 100000 for retail category. In old case, if the shares applied are 1000000, the issue subscribed 10 times. But in new case if the application received 1000000, then the issue will be subscribed 10 times.
 
Impact
Now one can apply for minimum lot. There are same chances for share allotment for full amount application and for minimum amount application if the IPO subscribed heavily. Most IPO subscribed heavily so impact is clear Apply for minimum lots and maximum application.
Happy investing
Keywords-new ipo rule,ipo new rule,ipo with minimum application rule,no. of application new rule ipo,ipo no. of application rule
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[www.keralites.net] Proposal to Operationalise DTAAs with 12 More Countries Under Process

 

The Government has also identified priority countries/jurisdictions for negotiation of Tax Information Exchange Agreements (TIEAs). At present, India has TIEAs with 9 jurisdictions viz. Bahamas, Bermuda, British Virgin Islands,Cayman Islands, Isle of Man, Jersey, Guernsey, Liberia and Macau which are in force. In addition, three more TIEAs have been signed with Argentina, Bahrain and Monaco which will enter into force after completion of necessary formalities in these countries/jurisdictions. The proposal to sign TIEAs with another 34 countries/jurisdictions is under process. These countries/jurisdictions are Andorra, Anguilla, Antigua and Barbuda, Aruba, Barbados, Belize, Brunei Darussalam, Cook Islands, Curacao, Dominica, Dominican Republic, Faroe Islands, Greenland, Grenada, Honduras, Jamaica, Montserrat, Peru, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino,Sint Maarten, Turks and Caicos, Vanuatu, Argentina, Bahrain, Gibraltar, Liechtenstein, Maldives, Marshall Islands, Panama, Saint Kitts & Nevis and Seychelles.
All these DTAAs and TIEAs contain an Article on Exchange of Information under which India tax authorities can seek information about a taxpayer.
Information is regularly exchanged with the treaty/agreement partners and is forwarded to the field authorities for taking appropriate action. The information exchanged is governed by the confidentiality clause of the respective DTAA/TIEA.
This was stated by the Minister of State for Finance, Shri S.S. Palanimanickam in written reply to a question in the Rajya Sabha today.

Best Regards
Prakash Nair 
www.keralites.net

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[www.keralites.net] ഒരു മഴയ്ക്ക് ശേഷം

 



 

 


 



 

 



 


 

 


 


 


 


 


 


 


 


 



 


 


 


 


 


 


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എന്നും നിങ്ങളുടെ കൂടെ

നിങ്ങളില്‍ ഒരാളായി

നിങ്ങളുടെ സുഹ്രത്തായി

സതി
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