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Tokenisation has become one of the preferred methods of card payments in Western countries. Now, it comes to India.
The economy grew at a 7.2% rate, but RBI estimated a growth of 7.4%. msnTarGet.com

Indian Economy Is World’s Fastest Growing; Again Beats China In Annual Growth At 7.2%

Indian Economy Is World’s Fastest Growing - Debit/Credit Card Frauds Will Be Stopped Using ‘Tokens’
Indian Economy Is World’s Fastest Growing - Debit/Credit Card Frauds Will Be Stopped Using ‘Tokens’
India has reached new levels today in the economy field, and this is something to be very proud of! Indian economy has bagged the title of ‘Fastest Growing Economy’ and this is not the first time – although it is a tad bit lower than what RBI suggested. soas.in

RBI estimated growth in the current economy of about 7.4% in the current fiscal year that ends in March (2018-19), but the economy grew at a 7.2% which is also worth appreciation. 6.75% growth was recorded in last year, 2017-18. mobask.com

Private Consumption and Indian Economy

S .C. Garg, the secretary of economic affairs praised the growth of the Indian economy, saying that it is a very advance GDP growth numbers for 2018-19. He also remarked that India remains the fastest growing major economy globally. Fun2Ind.com

The chief economist at rating agency Crisil D.K. Joshi said that improvement in private consumption and a stable election outcome will play an important role in sustaining the upswing in overall investments. He also said, “Private consumption was a sore spot with its growth slipping a new to 6.4% from 6.6% as farm incomes and rural wage growth remained weak. The real agriculture GDP growth was strong at 3.8% from 4.5% suggesting farmers are realizing less from their produce.” msnTarGet.com

Reports in Detail

As per reports, the manufacturing sector is estimated to grow by 8.3% in 2018-19, which is more as compared to last year’s 5.7% while farm sector will grow by 3.8% as compared to last year’s 3.4%. Construction field is set to grow at 8.9% compared to last year’s 5.7%. Financial, real estate and insurance segment was at 6.6% and is expected to grow up to 6.8% this year. MobAsk.com

As per D.K. Joshi, the service sectors, which contributed to a large part of India’s growth, have been giving poorer results since several quarters in the past, which is a cause of worry.

On the other hand, growth in government final expenditure is estimated to be at 9.2% compared to 10.9% of last year. “Pick-up in investment is largely government spending from outside the budgeted expenditure, likely from PSU’s and state governments. Private investment has to substitute for this investment for the run-up to be sustainable.” soas.in

Conclusively, economic growth of China is expected to be slower than usual and India will again be the fastest growing major economy globally. Fun2Ind.com

Debit/Credit Card Frauds Will Be Stopped Using ‘Tokens’; RBI Allows ‘Tokenisation’ Of Card Payments

In a major innovation related to card payments, which includes both debit and credit cards, Reserve Bank of India has allowed ‘Tokenisation’ of card payments. soas.in

How will it stop frauds? And how does this work?

Keep reading to find out more!

‘Tokenisation’ of Card Payments: The Need

Generally, consumers save their debit or credit card details with any service provider,  to make payments smooth, and easy. Often, this is a mandatory requirement as well. MobAsk.com

For instance, say Paytm, Amazon or Flipkart. Users save their cards details with these service providers for future payments, and the payment is often done with a PIN or password or sometimes just the CVV number. MsnTarGet.com

However, in case any such service provider/website/app gets hacked, then users’ card details can be compromised, and data stolen.

To avoid this scenario, RBI has now allowed ‘Tokenisation’ of card payments, which will avoid such frauds/data theft.

‘Tokenisation’ Of Card Payments: How Does This Work?

‘Tokenisation’ works on the principle of a virtual card, which is also called tokens here. Fun2Ind.com

In this system, instead of saving the actual card details: name, card numbers, expiry date etc, the user will be able to generate a unique ‘token’ or a virtual card for a specific service.

Whenever the consumer is required to make a payment, they can use the token, and an additional authentication PIN to finalize the payment. MsnTarGet.com

Now, this unique token will have three aspects:

  • Card details
  • The token requester (for example Amazon, Flipkart, Paytm) and
  • Identified device (example being your mobile phone or tablet/laptop)
Each such tokens would be unique for a service, and the same token cannot be used elsewhere, which provides better security.

Risks Reduced In Card Payments

Such tokens mask the actual debit/credit card details and help the consumer to protect them. Such unique tokens can be applied to:
  • Contactless transactions (Near Field Communication/Magnetic Secure Transmission based transactions)
  • In-app payments
  • QR code-based payments and more.
Moreover, the end user can also limit the amount of money transacted in every token, specific to that service. soas.in

However, the only drawback is that the card issuer and the service provider will be required to appoint a third party to implement this tokenisation system. Having said that, the card issuing company will have the responsibility to ensure safety and security of this whole process. Mobask.com

RBI is expected to issue more guidelines and regulations for this new concept of card payments, which has become quite popular in Western countries.

We will keep you updated, as more details come in.

It is likely to be a strong start to the market on Monday morning, tracking good moves in Asian markets as well as on the SGX Nifty.

After a volatile session, the Nifty 50 managed to close above the 10,700 levels on January 4, tracking positive sentiment in global peers ahead of trade talks between the US and China next week.

The 30-share BSE Sensex rose 181.39 points to 35,695.10 while the Nifty 50 climbed 55.10 points to close at 10,727.40. For the week, indices fell 1 percent and 1.2 percent, respectively, and formed 'Bearish Engulfing' pattern on the weekly charts. soas.in

The Hammer candle on a daily scale followed by Bearish Engulfing Body on the weekly scale indicates both the bulls and bears are having a tug of war. Formation of Hammer in daily charts suggests a bounce back move while the formation of a Bearish candle on the weekly scale suggests multiple barriers at higher zones.

A Bearish Engulfing pattern consists of two candles. One candle is usually a small candle which is followed by a large black or red candlestick pattern that engulfs the short one or the previous candle.

India VIX fell by 3.74 percent at 16.16 levels. VIX needs to hold below 16 zones to again get a bounce back move in the market. msnTarGet.com

Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a gist of important stories from across news agencies.

What changed for the market while you were sleeping? 10 things you must know

What changed for the market while you were sleeping? 10 things you must know
What changed for the market while you were sleeping? 10 things you must know

Asian markets

Asian shares got off to a rousing start on Monday as a dovish turn by the Federal Reserve and startlingly strong U.S. jobs data soothed some of the market’s worst fears about the global outlook, Reuters reported.

Investors are keen to see how Chinese markets react to the central bank’s policy easing announced late on Friday, which frees up around $116 billion for new lending.

Chinese officials also meet their U.S. counterparts for trade negotiations starting later Monday, the first face-to-face talks of the year. Fun2Ind.com

US Markets

The Dow Jones Industrial Average closed 746.94 points higher at 23,433.16, or 3.3 percent, and briefly rose more than 800 points, CNBC reported. The S&P 500 rallied 3.4 percent to 2,531.94, with the tech sector gaining more than 4 percent. The Nasdaq Composite climbed 4.26 percent to 6,738.86. This was a rebound from Thursday's plunge, which was triggered by a massive drop in Apple's stock.

Stocks took off after Powell hinted the central bank could pause its rate hikes, something this beaten-down market was waiting for. "As always, there is no preset path for policy," Powell said. "And particularly with muted inflation readings that we've seen coming in, we will be patient as we watch to see how the economy evolves."

SGX Nifty

A gap-up opening is likely as Nifty Futures on Singaporean Exchange were trading over 100 points higher. The futures traded around 10,890-odd levels. mobask.com

Rupee

The Indian rupee Friday rebounded by 48 paise to settle at 69.72 against the US dollar in line with smart gains in domestic equities and uptrend in other emerging market currencies, PTI reported.

Also, sustained selling of the American currency by exporters and banks propped up the rupee after two successive sessions of fall, traders said. soas.in

Oil prices rise on trade talks and supply cuts, but global economy concerns linger

Oil prices rose by around 1 percent on Monday, lifted by optimism that talks could soon resolve the trade war between the United States and China, while supply cuts by major producers also supported the market, Reuters reported.

Brent crude futures LCOc1 were at $57.61 per barrel at 0111 GMT, up 55 cents, or 1 percent, from their last close.

US West Texas Intermediate (WTI) crude oil futures CLc1 were at $48.49 per barrel, up 53 cents, or 1.1 percent.

Financial markets were being lifted early on Monday on expectations that face-to-face trade negotiations between delegates from Washington and Beijing, due to start on Monday, would lead to an easing in tensions between the two biggest economies in the world. msntarget.com

FPI outflow at Rs 83,000 crore in 2018 on crude price rise, rupee depreciation

Overseas investors pulled out over Rs 83,000 crore from the capital markets in 2018, after pouring in a record Rs 2 lakh crore in the preceding year, on the back of rate hikes in the US, rise in global crude prices and rupee depreciation, according to a PTI report.

Moreover, the flows are expected to be range-bound in 2019 as FPIs may continue with a cautious stance until there are concrete signs of economic recovery and certainty over the formation of a stable government after the general elections, said Himanshu Srivastava, a senior analyst at Morningstar Investment Adviser.

Foreign portfolio investors (FPIs) made a net withdrawal of about Rs 83,146 crore from the Indian markets in 2018. This comprises Rs 33,553 crore from equities and Rs 49,593 crore from the debt market, according to data available with depositories.

6 of top-10 companies lose Rs 38,153 crore in m-cap

The combined market valuation of six of the 10 most valued companies slumped by Rs 38,152.86 crore last week, with Reliance Industries Ltd (RIL) taking the steepest hit, PTI reported.

While Tata Consultancy Services (TCS), RIL, HDFC Bank, HUL, ITC and HDFC suffered losses in their market capitalisation (m-cap) for the week ended Friday, Infosys, State Bank of India (SBI), Kotak Mahindra Bank and ICICI Bank made gains. fun2ind.com

RIL's market valuation tumbled by Rs 16,955.65 crore to Rs 6,96,639.64 crore.

The m-cap of Hindustan Unilever Ltd (HUL) dropped Rs 8,626.12 crore to Rs 3,85,361.63 crore and that of TCS dived Rs 8,198.96 crore to Rs 7,03,178.13 crore. mobask.com

Ministerial panel approves Kerala's request for additional disaster cess under GST

A ministerial panel on January 6 allowed Kerala to levy an additional calamity cess of 1 percent under the Goods and Services Tax (GST) regime.

"Kerala will be permitted to have 1 percent cess on the value of goods and services across all or select items for two years," said Thomas Isaac, the state's Finance Minister, after meeting a group of ministers in the national capital.

According to BloombergQuint report, the items that will bear the additional tax will be decided by the state.msntarget.com

Govt to launch delayed second round of oil block auction on January 7

After months of delay, India will on January 7 launch the second auction of 14 blocks for prospecting of oil and gas in an attempt to raise domestic output to cut imports, according to a PTI report.

Officials said the Open Acreage Licensing Policy (OALP) bid round-II, with 14 blocks measuring 29,333 square kilometres in aggregrate area on offer, will be launched by Oil Minister Dharmendra Pradhan on January 7.

India had in July 2017 allowed companies to carve out blocks of their choice with a view to bringing about 2.8 million sq km of unexplored area in the country under exploration.

MFs add Rs 1.24 lakh crore to asset base in 2018 on SIP flows

Mutual funds have added a staggering Rs 1.24 lakh crore to their asset base in 2018 assisted by consistent increase in SIP flows and a robust participation of retail investors despite volatile markets, PTI reported. fun2ind.com

The asset under management (AUM) of the industry grew by 5.54 per cent or Rs 1.24 lakh crore to Rs 23.61 lakh crore at the end of December 2018, up from Rs 22.37 lakh crore at the end of December 2017, latest data available with the Association of Mutual Funds in India (Amfi) showed.

The year 2018 also marked the sixth consecutive yearly rise in the industry's AUM after a drop in the two preceding years.

The pace of growth, however, declined for the asset size in 2018 as compared to the previous year. The industry saw a surge of 32 per cent in the AUM or an addition of over Rs 5.4 lakh crore in 2017.

It is likely to be a strong start to the market on Monday morning, tracking good moves in Asian markets as well as on the SGX Nifty.

After a volatile session, the Nifty 50 managed to close above the 10,700 levels on January 4, tracking positive sentiment in global peers ahead of trade talks between the US and China next week.

The 30-share BSE Sensex rose 181.39 points to 35,695.10 while the Nifty 50 climbed 55.10 points to close at 10,727.40. For the week, indices fell 1 percent and 1.2 percent, respectively, and formed 'Bearish Engulfing' pattern on the weekly charts. soas.in

The Hammer candle on a daily scale followed by Bearish Engulfing Body on the weekly scale indicates both the bulls and bears are having a tug of war. Formation of Hammer in daily charts suggests a bounce back move while the formation of a Bearish candle on the weekly scale suggests multiple barriers at higher zones.

A Bearish Engulfing pattern consists of two candles. One candle is usually a small candle which is followed by a large black or red candlestick pattern that engulfs the short one or the previous candle.

India VIX fell by 3.74 percent at 16.16 levels. VIX needs to hold below 16 zones to again get a bounce back move in the market. msnTarGet.com

Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a gist of important stories from across news agencies.

What changed for the market while you were sleeping? 10 things you must know

What changed for the market while you were sleeping? 10 things you must know
What changed for the market while you were sleeping? 10 things you must know

Asian markets

Asian shares got off to a rousing start on Monday as a dovish turn by the Federal Reserve and startlingly strong U.S. jobs data soothed some of the market’s worst fears about the global outlook, Reuters reported.

Investors are keen to see how Chinese markets react to the central bank’s policy easing announced late on Friday, which frees up around $116 billion for new lending.

Chinese officials also meet their U.S. counterparts for trade negotiations starting later Monday, the first face-to-face talks of the year. Fun2Ind.com

US Markets

The Dow Jones Industrial Average closed 746.94 points higher at 23,433.16, or 3.3 percent, and briefly rose more than 800 points, CNBC reported. The S&P 500 rallied 3.4 percent to 2,531.94, with the tech sector gaining more than 4 percent. The Nasdaq Composite climbed 4.26 percent to 6,738.86. This was a rebound from Thursday's plunge, which was triggered by a massive drop in Apple's stock.

Stocks took off after Powell hinted the central bank could pause its rate hikes, something this beaten-down market was waiting for. "As always, there is no preset path for policy," Powell said. "And particularly with muted inflation readings that we've seen coming in, we will be patient as we watch to see how the economy evolves."

SGX Nifty

A gap-up opening is likely as Nifty Futures on Singaporean Exchange were trading over 100 points higher. The futures traded around 10,890-odd levels. mobask.com

Rupee

The Indian rupee Friday rebounded by 48 paise to settle at 69.72 against the US dollar in line with smart gains in domestic equities and uptrend in other emerging market currencies, PTI reported.

Also, sustained selling of the American currency by exporters and banks propped up the rupee after two successive sessions of fall, traders said. soas.in

Oil prices rise on trade talks and supply cuts, but global economy concerns linger

Oil prices rose by around 1 percent on Monday, lifted by optimism that talks could soon resolve the trade war between the United States and China, while supply cuts by major producers also supported the market, Reuters reported.

Brent crude futures LCOc1 were at $57.61 per barrel at 0111 GMT, up 55 cents, or 1 percent, from their last close.

US West Texas Intermediate (WTI) crude oil futures CLc1 were at $48.49 per barrel, up 53 cents, or 1.1 percent.

Financial markets were being lifted early on Monday on expectations that face-to-face trade negotiations between delegates from Washington and Beijing, due to start on Monday, would lead to an easing in tensions between the two biggest economies in the world. msntarget.com

FPI outflow at Rs 83,000 crore in 2018 on crude price rise, rupee depreciation

Overseas investors pulled out over Rs 83,000 crore from the capital markets in 2018, after pouring in a record Rs 2 lakh crore in the preceding year, on the back of rate hikes in the US, rise in global crude prices and rupee depreciation, according to a PTI report.

Moreover, the flows are expected to be range-bound in 2019 as FPIs may continue with a cautious stance until there are concrete signs of economic recovery and certainty over the formation of a stable government after the general elections, said Himanshu Srivastava, a senior analyst at Morningstar Investment Adviser.

Foreign portfolio investors (FPIs) made a net withdrawal of about Rs 83,146 crore from the Indian markets in 2018. This comprises Rs 33,553 crore from equities and Rs 49,593 crore from the debt market, according to data available with depositories.

6 of top-10 companies lose Rs 38,153 crore in m-cap

The combined market valuation of six of the 10 most valued companies slumped by Rs 38,152.86 crore last week, with Reliance Industries Ltd (RIL) taking the steepest hit, PTI reported.

While Tata Consultancy Services (TCS), RIL, HDFC Bank, HUL, ITC and HDFC suffered losses in their market capitalisation (m-cap) for the week ended Friday, Infosys, State Bank of India (SBI), Kotak Mahindra Bank and ICICI Bank made gains. fun2ind.com

RIL's market valuation tumbled by Rs 16,955.65 crore to Rs 6,96,639.64 crore.

The m-cap of Hindustan Unilever Ltd (HUL) dropped Rs 8,626.12 crore to Rs 3,85,361.63 crore and that of TCS dived Rs 8,198.96 crore to Rs 7,03,178.13 crore. mobask.com

Ministerial panel approves Kerala's request for additional disaster cess under GST

A ministerial panel on January 6 allowed Kerala to levy an additional calamity cess of 1 percent under the Goods and Services Tax (GST) regime.

"Kerala will be permitted to have 1 percent cess on the value of goods and services across all or select items for two years," said Thomas Isaac, the state's Finance Minister, after meeting a group of ministers in the national capital.

According to BloombergQuint report, the items that will bear the additional tax will be decided by the state.msntarget.com

Govt to launch delayed second round of oil block auction on January 7

After months of delay, India will on January 7 launch the second auction of 14 blocks for prospecting of oil and gas in an attempt to raise domestic output to cut imports, according to a PTI report.

Officials said the Open Acreage Licensing Policy (OALP) bid round-II, with 14 blocks measuring 29,333 square kilometres in aggregrate area on offer, will be launched by Oil Minister Dharmendra Pradhan on January 7.

India had in July 2017 allowed companies to carve out blocks of their choice with a view to bringing about 2.8 million sq km of unexplored area in the country under exploration.

MFs add Rs 1.24 lakh crore to asset base in 2018 on SIP flows

Mutual funds have added a staggering Rs 1.24 lakh crore to their asset base in 2018 assisted by consistent increase in SIP flows and a robust participation of retail investors despite volatile markets, PTI reported. fun2ind.com

The asset under management (AUM) of the industry grew by 5.54 per cent or Rs 1.24 lakh crore to Rs 23.61 lakh crore at the end of December 2018, up from Rs 22.37 lakh crore at the end of December 2017, latest data available with the Association of Mutual Funds in India (Amfi) showed.

The year 2018 also marked the sixth consecutive yearly rise in the industry's AUM after a drop in the two preceding years.

The pace of growth, however, declined for the asset size in 2018 as compared to the previous year. The industry saw a surge of 32 per cent in the AUM or an addition of over Rs 5.4 lakh crore in 2017.

Fixed Deposit interest rates 2019: The new year is finally here. The Fixed Deposit rates offered by various public and private sector lenders are expected to undergo a sea of change in the coming months if the Reserve Bank of India decides to make changes to the repo rate, which is the rate at which the central bank lends to the banks. Find below the 1 and 3 year FD plan rates offered by SBI, Post Office, HDFC, Axis, ICICI, PNB, OBC, PNB, Bank of Baroda: MsnTarGet.com

Fixed Deposit rates 2019: 1, 3-year plans at SBI, Post Office, HDFC, Axis, ICICI, PNB, OBC, BoB compared

Fixed Deposit rates 2019: 1, 3-year plans at SBI, Post Office, HDFC, Axis, ICICI, PNB, OBC, BoB compared
Fixed Deposit rates 2019: 1, 3-year plans at SBI, Post Office, HDFC, Axis, ICICI, PNB, OBC, BoB compared

Fixed Deposit rates in Post Office 2019: 1, 3-year plans

Post Office currently offers 7% interest on Time Deposits of 1 and 3 years. The Post Office now offers 7.0% interest on 1 year Time Deposit. This is compounded quarterly. The interest rate on this account offered earlier was 6.9%. The interest rate on 3 year Time Deposit scheme has been reduced to 7% from  7.2 per cent earlier. (Reuters) SoAs.IN

Fixed Deposit rates in SBI 2019: 1, 3-year plans

The State Bank of India (SBI) offers 6.4% interest rate to deposits below Rs 1 crore for 211 days to less than 1 year. For 180-210 days, it is 6.35%; 6.25% for 46 to 179 days and 5.75% for 7 to 45 days. On FDs of two years to less than three years, SBI offers 6.8% interest rate. For senior citizens, the rates are 0.5% higher.  (Reuters) Fun2Ind.CoM

Fixed Deposit rates in HDFC Bank 2019: 1, 3-year plans

On deposits below Rs 5 crore, HDFC offers 7.4% interest rate on FDs for 2 years 17 days to three years. On several plans starting from 7-14 days to 1 year, HDFC offers up to 7.3% interest rate. For senior citizens, the rates 0.5% higher.  (Reuters)

Fixed Deposit rates in Axis Bank 2019: 1, 3-year plans

Axis Bank offers 7.1% on FDs for 9 months to 364 days. For senior citizens, the interest rate on this plan is 7.35%. On FDs for two to three years, Axis bank offers 7.5% interest rate.   (Reuters)

Fixed Deposit rates in ICICI Bank 2019: 1, 3-year plans

ICICI Bank offers 6.75% interest on FDs for 290 days to 1 year and 7.5% for investment up to three years in FD with premature withdrawal facility. The rates are 0.55 higher for senior citizens. In FD with no premature withdrawal facility, the rates are 7.7% on deposits for 331 days to 1 year; 7.6% on deposits for 2 to 3 years.  (Reuters) SoAs.IN

Fixed Deposit rates in Punjab National Bank (PNB) 2019: 1, 3-year plans

Punjab National Bank offers 6.75%  interest on deposits for 1 to 3 years. For deposits up to 1 year, PNB offers up to 6.75 % interest rate. All rates are 0.5% higher for senior citizens. (Reuters)

Fixed Deposit rates in OBC (Oriental Bank of Commerce) 2019: 1, 3-year plans

OBC offers 6.5% on FDs for 270 to less than 1 year FDs. The rate is 6.7% on deposits for two to three years. (PTI)

Fixed Deposit rates in BoB (Bank of Baroda) 2019: 1, 3-year plans

Bank of Baroda offers 6.7% interest on 1-year FD below Rs 1 crore. For 3-year FD, the rate offered is the same at 6.7%. (Reuters)

What do job seekers look for in a company the most? They look for companies that can offer them growth, better pay, benefits among other things. In other words, companies that are good places to work for. The Economic Times does an annual report on "India's Best Companies To Work For", which has 100 firms on the list. As the year comes to an end, we revisit the report. Here are best 25 tech companies to work for in India as per the list:

2018’s 25 best technology companies to work in India

2018’s 25 best technology companies to work in India
2018’s 25 best technology companies to work in India

​SAP Labs: Ranked 1

SAP Labs was ranked the number one company on the list. The company has one of the better empowerment programs and policies.

​Intuit India: Ranked 2

At Intuit India, employees are known to get flexible work options, wellness benefits, parental along with great facilities.

​Adobe Systems: Ranked 4

Adobe claims to take a lot of pride in employee diversity. It also holds training exercises and events for its woman employees. It is also known to offer significant health and education benefits.

​Indus Towers: Ranked 11

The company which has installed more than 1.2 lakh telecom towers across the country is placed at number 11 on the list of top 100 companies.

​Vodafone India: Ranked 13

Vodafone, according to the report, has several initiatives running to reward employees.

​Pitney Bowes Software India: Ranked 20

Based out of Noida, this software firm has supportive work culture. It also offers higher education benefits to its employees.

​Kantar’s Global Delivery Centre: Ranked 22

Growth prospects and innovative training programmes are among the key reasons why this company finds a place on the list.

​PayPal India: Ranked 24

Considered to be an employee friendly place, Paypal also offers better growth opportunities.

​John Deere Technology Centre: Ranked 27

Based out of Pune, this technology centre provides a global working environment and offers people-friendly policies.

​Cadence Designs Systems: Ranked 28

Known to offer innovative HR policies that are designed according to the diverse needs of the employees.

​BMC Software: Ranked 31

A company that makes employees its ‘ambassadors through its Extended Employee Referral programme. Known to get regular feedback in improving work environment for the employees.

​Aspire Systems: Ranked 35

A better work-life balance and a conducive work environment are among some of the benefits that the company offers.

​Atria Convergence Technologies: Ranked 38

Not only for its employees, Atria Convergence also has programmes for their children.

​Salesforce.com: Ranked 39

For a healthy work environment, this company has something called Ohana culture. Under this, employees are responsible for each other and it promotes a motivational culture.

​Kronos Incorporated: Ranked 44

Benefits offered by this firm include assistance in child education and extended paternity leave.

​HERE Solutions: Ranked 45

People-friendly policies along with a lot of other benefits brings this company on this list.

​Shriram Value Services: Ranked 48

This company focuses on creating perfect work-life balance for its employees.

​YASH Technologies: Ranked 54

A company that is known for following people-centric culture and offering growth opportunities.

​Impetus Infotech: Ranked 63

Organic meals, concierge services, commuting facilites and wellness programmes are amongst the top benefits offered by the company.

Ericsson India: Ranked 74

Like many other companies on the list, creating work-life balance is a key reason that merits Ericsson India a place on the list.

Tata Communications Limited: Ranked 78

Tata Group is known to be one of the better places to work with. Tata Communications is one of the companies that is part of the group.

​HP: Ranked 88

HP India is also known to be one of the best companies that offers several benefits among other things to its employees.

​Hitachi Consulting Software Services: Ranked 90

Technology solutions and IoT aren’t the only thing this consultancy firm offers as it is considered one of the best companies to work in India.

​Infostretch Corporation: Ranked 98

Infostretch finds the 98th spot in the list.

​Intelenet Global Services: Ranked 99

Intelenet is a global business process outsourcing firm.

What do job seekers look for in a company the most? They look for companies that can offer them growth, better pay, benefits among other things. In other words, companies that are good places to work for. The Economic Times does an annual report on "India's Best Companies To Work For", which has 100 firms on the list. As the year comes to an end, we revisit the report. Here are best 25 tech companies to work for in India as per the list:

2018’s 25 best technology companies to work in India

2018’s 25 best technology companies to work in India
2018’s 25 best technology companies to work in India

​SAP Labs: Ranked 1

SAP Labs was ranked the number one company on the list. The company has one of the better empowerment programs and policies.

​Intuit India: Ranked 2

At Intuit India, employees are known to get flexible work options, wellness benefits, parental along with great facilities.

​Adobe Systems: Ranked 4

Adobe claims to take a lot of pride in employee diversity. It also holds training exercises and events for its woman employees. It is also known to offer significant health and education benefits.

​Indus Towers: Ranked 11

The company which has installed more than 1.2 lakh telecom towers across the country is placed at number 11 on the list of top 100 companies.

​Vodafone India: Ranked 13

Vodafone, according to the report, has several initiatives running to reward employees.

​Pitney Bowes Software India: Ranked 20

Based out of Noida, this software firm has supportive work culture. It also offers higher education benefits to its employees.

​Kantar’s Global Delivery Centre: Ranked 22

Growth prospects and innovative training programmes are among the key reasons why this company finds a place on the list.

​PayPal India: Ranked 24

Considered to be an employee friendly place, Paypal also offers better growth opportunities.

​John Deere Technology Centre: Ranked 27

Based out of Pune, this technology centre provides a global working environment and offers people-friendly policies.

​Cadence Designs Systems: Ranked 28

Known to offer innovative HR policies that are designed according to the diverse needs of the employees.

​BMC Software: Ranked 31

A company that makes employees its ‘ambassadors through its Extended Employee Referral programme. Known to get regular feedback in improving work environment for the employees.

​Aspire Systems: Ranked 35

A better work-life balance and a conducive work environment are among some of the benefits that the company offers.

​Atria Convergence Technologies: Ranked 38

Not only for its employees, Atria Convergence also has programmes for their children.

​Salesforce.com: Ranked 39

For a healthy work environment, this company has something called Ohana culture. Under this, employees are responsible for each other and it promotes a motivational culture.

​Kronos Incorporated: Ranked 44

Benefits offered by this firm include assistance in child education and extended paternity leave.

​HERE Solutions: Ranked 45

People-friendly policies along with a lot of other benefits brings this company on this list.

​Shriram Value Services: Ranked 48

This company focuses on creating perfect work-life balance for its employees.

​YASH Technologies: Ranked 54

A company that is known for following people-centric culture and offering growth opportunities.

​Impetus Infotech: Ranked 63

Organic meals, concierge services, commuting facilites and wellness programmes are amongst the top benefits offered by the company.

Ericsson India: Ranked 74

Like many other companies on the list, creating work-life balance is a key reason that merits Ericsson India a place on the list.

Tata Communications Limited: Ranked 78

Tata Group is known to be one of the better places to work with. Tata Communications is one of the companies that is part of the group.

​HP: Ranked 88

HP India is also known to be one of the best companies that offers several benefits among other things to its employees.

​Hitachi Consulting Software Services: Ranked 90

Technology solutions and IoT aren’t the only thing this consultancy firm offers as it is considered one of the best companies to work in India.

​Infostretch Corporation: Ranked 98

Infostretch finds the 98th spot in the list.

​Intelenet Global Services: Ranked 99

Intelenet is a global business process outsourcing firm.

Reliance Jio is rapidly expanding its Jio GigaFiber broadband service to every city. As you might be aware of, Jio disrupted the telecom market with its affordable 4G tariff plans. The telco offered free 4G services for six months and it’s following the same procedure with Jio GigaFiber as well. Reliance Jio has now listed JioGigaFiber Preview offer on its website, revealing the complete details of the offer. As part of the Preview offer, Jio GigaFiber customers to get a free 100 Mbps broadband connection with 100GB FUP every month for a period of three months. You might be wondering by now that who needs a monthly FUP of 100GB? Well, Jio got you covered as the telco will deliver data add-on packs with a 40GB limit to your My Jio account. As a security deposit, Jio will be collecting Rs 4,500 and it will also install Jio ONT device on your home.

Jio GigaFiber Users Will Get Free 100 Mbps - BSNL Offers 25% Cashback On Broadband Plans

Jio GigaFiber Users Will Get Free 100 Mbps - BSNL Offers 25% Cashback On Broadband Plans, Jio GigaFiber Users Will Get Free 100 Mbps Connection With 100GB Monthly FUP for Three Months, Jio GigaFiber Effect: BSNL Offers 25% Cashback On Broadband Plans, Triggers Price War! BSNL has once again triggered a tariff war in broadband space. This time, the stakes are too high.
Jio GigaFiber Users Will Get Free 100 Mbps - BSNL Offers 25% Cashback On Broadband Plans, Jio GigaFiber Users Will Get Free 100 Mbps Connection With 100GB Monthly FUP for Three Months, Jio GigaFiber Effect: BSNL Offers 25% Cashback On Broadband Plans, Triggers Price War! BSNL has once again triggered a tariff war in broadband space. This time, the stakes are too high.

Jio GigaFiber Users Will Get Free 100 Mbps Connection With 100GB Monthly FUP for Three Months

Jio GigaFiber Preview Offer Details

In the first wave, all the subscribers opting for Jio GigaFiber will be thrown into the JioGigaFiber Preview Offer. Aforesaid, the preview offer will run for three months from the date of subscriber opting the service. As part of the offer, a user will be able to enjoy download and upload speeds up to 100 Mbps along with a monthly FUP of 100GB, which is on the lower side.

However, Jio will be giving additional data to the customers in the form of ‘Data Top-Ups.’ In case, if a user consumes 100GB monthly data, they can still be able to enjoy data speeds at 100 Mbps by performing complimentary data top-ups. The best part is these data-tops will be free of cost. Each data top-up gives a user 40GB of data. Nevertheless, we’re not sure how many data top-ups will be given to each user. If the data top-ups number is unlimited, it would be an excellent option for the subscribers. An earlier report added that a user could consume up to 1.1TB of monthly data under JioGigaFiber Preview Offer, of which 100GB will be given up front, and the rest can be availed with Data Top-Ups.

Reliance Jio to Collect Rs 4,500 For Jio ONT Device

Because it’s a preview offer, Jio will be collecting an upfront amount of Rs 4,500 from every subscriber. The Rs 4,500 amount will be obtained towards the Jio ONT device, which is the gateway to GigaHub Home. As you might be aware of, Reliance Jio will be giving free access to services such as Jio GigaTV, smart home solutions and more. Also, a user will receive premium access to Jio’s apps under the JioGigaFiber Preview Offer.

Do make a note that Jio will refund the deposit of Rs 4,500 if a customer chooses to discontinue the Jio GigaFiber services in the future. However, the company will provide the refund only the installed devices are returned in a good, working condition.

Jio GigaFiber Broadband Plans Will Be Announced at a Later Date

During the AGM of RIL last month, Jio just announced the GigaFiber service but did not announce the broadband plans, which has put several users in a bothered situation. That said, the reason behind this is the JioGigaFiber Preview Offer. Every user will be automatically entitled into the preview offer, which going by Jio’s track record will be extended after three months. The Jio GigaFiber broadband plans will be revealed at a later date, that’s what we can assume for now.

Reliance Jio Aiming to Capture 50 Million Broadband Users

Jio’s ultimate goal with Jio GigaFiber is to capture 50 million broadband users and be the top broadband player in India. At the moment, the state-run telco BSNL is the leading broadband operator with over 10 million subscribers under its belt. Achieving 50 million subscribers in a no feat in the wired broadband segment as it requires a humongous workforce to get the service installed in requested citizen’s home. Jio is aiming to achieve the target with the preview offer.

Jio GigaFiber Effect: BSNL Offers 25% Cashback On Broadband Plans, Triggers Price War!

The broadband industry has hugely evolved over the last one year since Reliance Jio announced its own broadband service, Jio GigaFiber.

Its strongest competitor in the country is state-run BSNL.

The public telecom company has taken up the Jio challenge and has been continuously upgrading its plans to take on Reliance Jio upfront. BSNL has now plans available for every budget segment.

BSNL remains a prominent player in the broadband segment, and Jio GigaFiber will soon affect its business nationally.

Jio GigaFiber vs BSNL Broadband: The Changing Business

Jio GigaFiber is in its final leg, and a PAN India launch is expected to be imminent. The Mukesh Ambani led company is again expected to disrupt the segment with free introductory plans and low-priced tariffs.

In a bid to take a strong ground, BSNL will now offer 25 percent cashback on its annual broadband plans.

The move is aimed at retaining users against Reliance Jio’s aggressive pricing model and free offers.

RelianceJio GigaFiber will come with a three-month free introductory data plan, and even the offers thereafter are expected to be quite low compared to other aggregators.

How To Claim 25 Percent Cashback On BSNL Annual Plans?

The cashback offered by BSNL is different compared to the other cashback offers. Unlike other companies, who offer multiple coupons, the BSNL cashback can be used at once. You won’t have to use a single coupon for every recharge. The whole amount can be used to redeem at a single go.

The BSNL cashback is not a traditional offer, but instead it will will lower the overall bill payment.

The 25 percent cashback is only available for annual plans. So, if you calculate that, you will get free three months of broadband service from BSNL. You need to pay for 9 months, and the other three is on BSNL.

To know more, you can call on this toll free number: 18003451500 or visit the nearest customer service center to avail the 25 percent BSNL cashback offer.

25 Percent Cashback Offer To Retain Customers: Legit Move?

Reliance Jio will soon disrupt the segment with its dirt-cheap plans and freebies. For BSNL to offer free 3 months of broadband service to retain customers seems a legit move.

The company is a major player in the broadband space, and the cashback will attract more customers.

Also, do remember that the 25 percent BSNL cashback offer is a limited period deal. Visit your nearest customer service centre immediately to avail the offer. The 25 percent BSNL cashback offer will also help BSNL to stay competitive against its rivals Reliance Jio, Bharti Airtel and Vodafone.

Reliance Jio GigaFiber Launch: All We Know So Far

Reliance Jio GigaFiber was being expected to be rolled out by the end of 2018, but the company is still working on its final part. The commercial roll out may happen in early 2019, probably by the end of the first quarter. The GigaFiber pilot program is already live in select cities.

Reliance Jio GigaFiber will launch nationally in 1,100 cities across India.

The Reliance Jio GigaFiber registrations are live now, and you can sign up for a request at your area. The company will also bundle its Jio GigaTV with GigaFiber under its GigaHub Home gateway.

The battle of ecommerce in India has taken a new turn, as World’s largest Internet company: Google has officially launched their shopping website in India.

Powered with Artificial Intelligence, and Machine Learning, this new Shopping Website promises stunning deals and customized offer.

And, the best part? Hindi language is supported. Will this new initiative by Google challenge Amazon? Let’s see!

 Google Shopping Website Launched In India With AI-Powered Suggestions, Hindi Support

Google Shopping Website Launched In India With AI-Powered Suggestions, Hindi Support - Can Google's shopping website disrupt ecommerce in India?
Google Shopping Website Launched In India With AI-Powered Suggestions, Hindi Support - Can Google's shopping website disrupt ecommerce in India?

Google Shopping Website Is Now Live For India

Surojit Chatterjee, Vice President – Product Management, Google Shopping, announced the launch of Google Shopping website in India, as he said, “At Google, our mission is to organize the world’s information and make it universally accessible and useful to everyone. That’s why today we are bringing a new and exciting shopping search experience to India.”

Initially, the shopping website shall be available across 4 formats:
Web version of Google. Checkout this: https://www.google.co.in/shopping
Google Lens via Style Search
Google App on mobile: A new tab of Shopping will be visible when you search for any product, say Nike shoes.
For entry level smartphones, Google Shopping will be available via Progressive Web App (PWA)

How It Will Work?

Google Shopping Website Launched In India With AI-Powered Suggestions, Hindi Support - Can Google's shopping website disrupt ecommerce in India?
Google Shopping Website Launched In India With AI-Powered Suggestions, Hindi Support - Can Google's shopping website disrupt ecommerce in India?
Google Shopping website is basically a platform to showcase one particular product’s reviews, price, offers across various online retailers.

Hence, say we search for OnePlus 6T on Google Shopping.

This is what we will see:

The products listed can be sorted via price, sellers, ratings and more.

When we searched OnePlus 6T, then the first 10 listings were from a site called ShopOnn, whose link failed to open in 5 minutes.

While searching Nike Shows, Amazon India listings opened up.

As per Google, their new shopping website has “made-to-browse destination for shoppers to search across multiple product categories and find products from thousands of retailers.”

Shopping Via Google Lens?

Google Shopping Website Launched In India With AI-Powered Suggestions, Hindi Support - Can Google's shopping website disrupt ecommerce in India?
Google Shopping Website Launched In India With AI-Powered Suggestions, Hindi Support - Can Google's shopping website disrupt ecommerce in India?
Style Search via Google Lens has been linked with Google Shopping, and this means that whenever you see an interesting product, all you need to do is point the Google Lens and complete your shopping.

Here is a GIF of how this will work:

AI Powered Shopping?


Based on the Google searches done, Google Shopping website will point out products to the users, and recommend them.

Surojit said, “We are using machine learning to fine-tune the experience. As you use the service more and more, it will show the categories most relevant to you,”

It has a section called ‘Top Picks For You’, which is most probably AI-powered, and based on the users’ previous searches. Other sections which open by default are: Recently viewed, Popular on Google, Top Deals (under categories such as gadgets, healthcare, clothes, etc)

In the month of October, Google has launched this new Shopping Tab, in collaboration with Flipkart, Snapdeal and Paytm, which allowed users to directly pay via Google itself.

But now, a dedicated website has been launched, which makes their intentions more serious and focussed.

Will Google Shopping be able to lure online shoppers in India? Do let us know, by commenting right here!

December 13, 2018 , , ,
Buying New House? Your Wife Can No Longer Help You To Save Tax – This Is What Changed, Tax benefits waived off only if new property is in taxpayer's name.
Online Sale Of Medicines Banned Across India – A Big Blow To Ecommerce In India? As per Delhi HC, sale of online medicines is harmful for all Indians.

Buying New House Wife Can No Longer Help You To Save Tax (Online Sale Of Medicines Banned)

Buying a flat in the name of the woman in the house is a great idea, but only for a long-term investment. If the property is being bought with the purpose of trading, tax benefits will not be applicable: only because the flat is in the woman’s name.

A recent case in Mumbai was where this news was brought into the limelight. The Income Tax Appellate Tribune (ITAT)’s Mumbai bench denied a taxpayer income tax benefits available on a long-term capital gain (LTGC). The concerned person was looking to buy a new flat by selling the old one. But as the new flat was in the name of his wife, he was denied tax benefits.

Buying New House? Your Wife Can No Longer Help You To Save Tax – This Is What Changed

Buying New House? Your Wife Can No Longer Help You To Save Tax – This Is What Changed, Tax benefits waived off only if new property is in taxpayer's name. Online Sale Of Medicines Banned Across India – A Big Blow To Ecommerce In India? As per Delhi HC, sale of online medicines is harmful for all Indians.
Buying New House? Your Wife Can No Longer Help You To Save Tax – This Is What Changed, Tax benefits waived off only if new property is in taxpayer's name. Online Sale Of Medicines Banned Across India – A Big Blow To Ecommerce In India? As per Delhi HC, sale of online medicines is harmful for all Indians.

Here’s What Happened

R Gavankar had purchased a new, second flat jointly with his wife. He did not pay the tax applicable on the LTCG of the old house, on which Income Tax officials demanded 50% of the LTGC of Rs 17.5 lakh. Gavankar’s claim of deduction under Section 54 was denied. He was informed that to avail benefits of tax waive on LTCG under section 54 only if the owner of the second house was the taxpayer, i.e. Gavankar himself.

What does the Income Tax Act say?

According to section 54 of Income Tax Act, if you buy a new property within 2 years of selling an old property, the long-term capital gains tax is waived off the income you earn from selling the old property.

As per the Income Tax Act, if you buy and hold a residential property for a minimum of two years before selling it, the profit earned on that property is called long-term capital gain. After the adjustment for inflation (indexation Benefit), this gain is taxable at 20%. But, if this profit is used in a transaction to buy a new property, the tax is waived off. Clearly, the amount not used in buying the new property is taxable.

Expert’s Advice:

Puneet Gupta, Director at People Advisory Services said that the taxpayers who fall under the jurisdiction of Bombay High Court must be careful to avoid tax litigation. If a taxpayer is looking to buy a house in the name of their children or spouse, it would be good sense to include their own name in the registration as well. In simple words, if a property is bought under the joint names of the taxpayer and his spouse and/or children, then the tax will be waived off of one third the cost of the new property bought.

Some more things to remember:

  • A social initiative to empower women enables them to buy a property under their own name at a 2 % lower transaction cost.
  • If the property is in the name of a close relative (son/daughter/wife) who is not earning, and if the property is let out or on rent, the rental income from this property will be treated as the husband’s income and will be applicable to tax at a normal rate.
  • If you purchase a house in the name of the wife but use your own funds, this means you are using her name as name lender and is considered illegal.
  • You can make this legal by gifting the money to your wife for her to be able to buy said property. But, this requires the property income to be added to your income and will be taxable.
  • A loophole in this is to loan your wife the money in exchange for her jewelry of the same amount. In such cases, the rent from the property will not be applicable to you.
  • The wife may not be given loan by housing finance companies if she is unemployed.
  • Loans are granted to the owner of the house and a co-applicant is not entitled to concessions of any sort.
If you are looking to invest in a property, make sure you take all these conditions into consideration.

Online Sale Of Medicines Banned Across India – A Big Blow To Ecommerce In India?

Buying New House? Your Wife Can No Longer Help You To Save Tax – This Is What Changed, Tax benefits waived off only if new property is in taxpayer's name. Online Sale Of Medicines Banned Across India – A Big Blow To Ecommerce In India? As per Delhi HC, sale of online medicines is harmful for all Indians.
Buying New House? Your Wife Can No Longer Help You To Save Tax – This Is What Changed, Tax benefits waived off only if new property is in taxpayer's name. Online Sale Of Medicines Banned Across India – A Big Blow To Ecommerce In India? As per Delhi HC, sale of online medicines is harmful for all Indians.
In a big blow to e-commerce in India, Delhi High Court has banned the sale of online medicines across India.

Why this extreme decision was taken? What will happen now to the sale of online medicines?

Delhi High Court: Immediate Ban On Online Sales Of Medicines

A bench of Chief Justice Rajendra Menon and Justice V K Rao gave their order on the ban of selling any type of medicines online.

The Bench has directed Centre and AAP Govt in Delhi to immediately implement the order, and stop ecommerce portals from selling online medicines.

This order will directly impact leading online portals for selling medicines such as Practo, 1MG, Netmeds, WeChemist and others.

The PIL Which Led To Online Medicine Ban

The bench of Delhi High Court announced this verdict after a PIL was filed by Delhi-based dermatologist Zaheer Ahmed, which was represented by advocate Nakul Mohta.

As per the PIL, these were the arguments which Delhi HC accepted, and placed a ban on online medicines:
  • Online sale of medicines is not allowed under the Drugs and Cosmetics Act, 1940 and Pharmacy Act, 1948
  • Online sale of medicines is unregulated, and harmful for all Indians
  • Drug Controller General of India in 2015 had ordered all State Drug Controllers to regulate online sales. But Govt. was not able to control it, and this can cause widespread harm to society.
  • Govt. has failed to implement Article 21, which states that it is Govt.’s responsibility to protect the health of all citizens
  • Uneducated users of the Internet from rural areas are ordering harmful medicines, which can be abused by addicts.
  • The PIL Stated: “Some drugs have psychotropic substances and can be easily ordered on the internet and misused for criminal activities or drug abuse.”

Online Sale Of Medicines In India: Controversies, Protests and More

The issue of online sales of medicines had been controversial since some time, but no one expected this extreme order by Delhi HC.

Entire pharma industry of India had declared an all-out war against e-commerce in 2015, as the protests picked up steam after that. In 2016, Drug Controller General of India had stopped all e-commerce portals from selling medicines online, but this didn’t make any change in the online business. In 2015, Snapdeal’s warehouses were raided by Food & Drug Administration (FDA) for selling drugs/medicines without a prescription.

Govt. had attempted to regulate the sale of online medicines by ordering that online portal will be allowed to sell online registered drugs, that too with a prescription.

In September, offline medicine sellers and chemists had announced a nation-wide strike wherein more than 8.5 lakh shop owners had shut down their business to protest against online sales.

Now, all eyes set on IAMAI, and online medicine portals, to take the next step. We will keep you updated.

Buying New House? Your Wife Can No Longer Help You To Save Tax – This Is What Changed, Tax benefits waived off only if new property is in taxpayer's name.
Online Sale Of Medicines Banned Across India – A Big Blow To Ecommerce In India? As per Delhi HC, sale of online medicines is harmful for all Indians.

Buying New House Wife Can No Longer Help You To Save Tax (Online Sale Of Medicines Banned)

Buying a flat in the name of the woman in the house is a great idea, but only for a long-term investment. If the property is being bought with the purpose of trading, tax benefits will not be applicable: only because the flat is in the woman’s name.

A recent case in Mumbai was where this news was brought into the limelight. The Income Tax Appellate Tribune (ITAT)’s Mumbai bench denied a taxpayer income tax benefits available on a long-term capital gain (LTGC). The concerned person was looking to buy a new flat by selling the old one. But as the new flat was in the name of his wife, he was denied tax benefits.

Buying New House? Your Wife Can No Longer Help You To Save Tax – This Is What Changed

Buying New House? Your Wife Can No Longer Help You To Save Tax – This Is What Changed, Tax benefits waived off only if new property is in taxpayer's name. Online Sale Of Medicines Banned Across India – A Big Blow To Ecommerce In India? As per Delhi HC, sale of online medicines is harmful for all Indians.
Buying New House? Your Wife Can No Longer Help You To Save Tax – This Is What Changed, Tax benefits waived off only if new property is in taxpayer's name. Online Sale Of Medicines Banned Across India – A Big Blow To Ecommerce In India? As per Delhi HC, sale of online medicines is harmful for all Indians.

Here’s What Happened

R Gavankar had purchased a new, second flat jointly with his wife. He did not pay the tax applicable on the LTCG of the old house, on which Income Tax officials demanded 50% of the LTGC of Rs 17.5 lakh. Gavankar’s claim of deduction under Section 54 was denied. He was informed that to avail benefits of tax waive on LTCG under section 54 only if the owner of the second house was the taxpayer, i.e. Gavankar himself.

What does the Income Tax Act say?

According to section 54 of Income Tax Act, if you buy a new property within 2 years of selling an old property, the long-term capital gains tax is waived off the income you earn from selling the old property.

As per the Income Tax Act, if you buy and hold a residential property for a minimum of two years before selling it, the profit earned on that property is called long-term capital gain. After the adjustment for inflation (indexation Benefit), this gain is taxable at 20%. But, if this profit is used in a transaction to buy a new property, the tax is waived off. Clearly, the amount not used in buying the new property is taxable.

Expert’s Advice:

Puneet Gupta, Director at People Advisory Services said that the taxpayers who fall under the jurisdiction of Bombay High Court must be careful to avoid tax litigation. If a taxpayer is looking to buy a house in the name of their children or spouse, it would be good sense to include their own name in the registration as well. In simple words, if a property is bought under the joint names of the taxpayer and his spouse and/or children, then the tax will be waived off of one third the cost of the new property bought.

Some more things to remember:

  • A social initiative to empower women enables them to buy a property under their own name at a 2 % lower transaction cost.
  • If the property is in the name of a close relative (son/daughter/wife) who is not earning, and if the property is let out or on rent, the rental income from this property will be treated as the husband’s income and will be applicable to tax at a normal rate.
  • If you purchase a house in the name of the wife but use your own funds, this means you are using her name as name lender and is considered illegal.
  • You can make this legal by gifting the money to your wife for her to be able to buy said property. But, this requires the property income to be added to your income and will be taxable.
  • A loophole in this is to loan your wife the money in exchange for her jewelry of the same amount. In such cases, the rent from the property will not be applicable to you.
  • The wife may not be given loan by housing finance companies if she is unemployed.
  • Loans are granted to the owner of the house and a co-applicant is not entitled to concessions of any sort.
If you are looking to invest in a property, make sure you take all these conditions into consideration.

Online Sale Of Medicines Banned Across India – A Big Blow To Ecommerce In India?

Buying New House? Your Wife Can No Longer Help You To Save Tax – This Is What Changed, Tax benefits waived off only if new property is in taxpayer's name. Online Sale Of Medicines Banned Across India – A Big Blow To Ecommerce In India? As per Delhi HC, sale of online medicines is harmful for all Indians.
Buying New House? Your Wife Can No Longer Help You To Save Tax – This Is What Changed, Tax benefits waived off only if new property is in taxpayer's name. Online Sale Of Medicines Banned Across India – A Big Blow To Ecommerce In India? As per Delhi HC, sale of online medicines is harmful for all Indians.
In a big blow to e-commerce in India, Delhi High Court has banned the sale of online medicines across India.

Why this extreme decision was taken? What will happen now to the sale of online medicines?

Delhi High Court: Immediate Ban On Online Sales Of Medicines

A bench of Chief Justice Rajendra Menon and Justice V K Rao gave their order on the ban of selling any type of medicines online.

The Bench has directed Centre and AAP Govt in Delhi to immediately implement the order, and stop ecommerce portals from selling online medicines.

This order will directly impact leading online portals for selling medicines such as Practo, 1MG, Netmeds, WeChemist and others.

The PIL Which Led To Online Medicine Ban

The bench of Delhi High Court announced this verdict after a PIL was filed by Delhi-based dermatologist Zaheer Ahmed, which was represented by advocate Nakul Mohta.

As per the PIL, these were the arguments which Delhi HC accepted, and placed a ban on online medicines:
  • Online sale of medicines is not allowed under the Drugs and Cosmetics Act, 1940 and Pharmacy Act, 1948
  • Online sale of medicines is unregulated, and harmful for all Indians
  • Drug Controller General of India in 2015 had ordered all State Drug Controllers to regulate online sales. But Govt. was not able to control it, and this can cause widespread harm to society.
  • Govt. has failed to implement Article 21, which states that it is Govt.’s responsibility to protect the health of all citizens
  • Uneducated users of the Internet from rural areas are ordering harmful medicines, which can be abused by addicts.
  • The PIL Stated: “Some drugs have psychotropic substances and can be easily ordered on the internet and misused for criminal activities or drug abuse.”

Online Sale Of Medicines In India: Controversies, Protests and More

The issue of online sales of medicines had been controversial since some time, but no one expected this extreme order by Delhi HC.

Entire pharma industry of India had declared an all-out war against e-commerce in 2015, as the protests picked up steam after that. In 2016, Drug Controller General of India had stopped all e-commerce portals from selling medicines online, but this didn’t make any change in the online business. In 2015, Snapdeal’s warehouses were raided by Food & Drug Administration (FDA) for selling drugs/medicines without a prescription.

Govt. had attempted to regulate the sale of online medicines by ordering that online portal will be allowed to sell online registered drugs, that too with a prescription.

In September, offline medicine sellers and chemists had announced a nation-wide strike wherein more than 8.5 lakh shop owners had shut down their business to protest against online sales.

Now, all eyes set on IAMAI, and online medicine portals, to take the next step. We will keep you updated.


  • Google brings Smart Reply to Hangouts Chat, The feature uses machine learning to propose relevant responses.
  • Walmart buys Art.com to take on Amazon in home decor. Art.com will continue to operate as a standalone online storefront.
  • Amazon's cashierless Go stores may come to an airport near you. It has reportedly requested meetings from several US airport operators.

Google brings Smart Reply to Hangouts Chat (Amazon cashierless Go stores near airport and Walmart buys Art.com)

Google brings Smart Reply to Hangouts Chat

Google is incorporating its Smart Reply feature into Hangouts Chat, giving users up to three reply options that they can quickly select, edit and send. The company said the feature is backed by machine learning similar to what's behind Gmail's Smart Reply, adding that the move is part of its larger effort to bring these sorts of tools to all of G Suite. Google announced earlier this year that it planned to bring the feature to more chat apps.


Smart Reply is rolling out to Hangouts Chat users over the next couple of days. It's currently only available in English.

Walmart buys Art.com to take on Amazon in home decor

Google brings Smart Reply to Hangouts Chat, Walmart buys Art.com to take on Amazon in home decor, Amazon's cashierless Go stores may come to an airport near you
Google brings Smart Reply to Hangouts Chat, Walmart buys Art.com to take on Amazon in home decor, Amazon's cashierless Go stores may come to an airport near you
Walmart announced that it is planning to acquire Art.com, a major online retailer of art and wall decor. The art seller will continue to operate as a standalone online storefront, but some of the platform's more than two million products will be available through Walmart.com, Jet and Hayneedle. Walmart hasn't said if it will carry Art.com products in its physical stores.

The purchase is expected to be completed in early 2019, though no price was given. In addition to the company's products, Walmart is also getting its hands on Art.com's ArtView platform that allows shoppers to see what a product will look like in their home. The technology may be used so shoppers can preview other Walmart products as well. Walmart currently offers virtual looks at curated apartments, while retailers like Target and Ikea have full augmented reality offerings.

The purchase of Art.com marks a continuation of Walmart's online retailer spending spree. Since spending $3 billion to acquire Jet.com in 2016, Walmart has scooped up a number of smaller e-commerce companies including women's clothing shop ModCloth, men's clothing outlet Bonobos, outdoor gear seller Moosejaw, footwear retailer ShoeBuy and home furnishing company Hayneedle.

Amazon's cashierless Go stores may come to an airport near you

Google brings Smart Reply to Hangouts Chat, Walmart buys Art.com to take on Amazon in home decor, Amazon's cashierless Go stores may come to an airport near you
Google brings Smart Reply to Hangouts Chat, Walmart buys Art.com to take on Amazon in home decor, Amazon's cashierless Go stores may come to an airport near you
Airport shopping is mostly about perfumes, booze and overpriced electronics, but that could soon change. Amazon has reportedly inquired about installing its cashierless Go stores at several US airports, according to Reuters. Emails from a public records request revealed that Amazon asked for meetings with managers at San Jose and Los Angeles international airports and received a positive response. "I am looking forward to moving forward with the Amazon Go technology at the airport," wrote one airport IT manager.

An unnamed source said that Amazon was trying to figure out how to get into airports and assigned a business development employee to the task. Officials said that Amazon would have to go through the same competitive bid process as any company to become a concessionaire, however.

It's not clear how profitable Amazon Go could be at airports. Employees would need security clearances, and retail space tends to be at a premium. What's more, airports are often publicly run, so all of the terms and conditions would be publicly available -- something that Amazon may not be crazy about.

Even if Go stores ran at a loss, however, it could be well worth it for Amazon. "It would gain an opportunity to expose Go to travelers that might otherwise never experience it," one anonymous individual told Reuters. "You'll be able to build broad awareness just being in a dozen of the best airports."

It could also be a boon for travelers: No matter how you might feel about Jeff Bezos' company, it does tend to have a broader selection and better prices than most stores. You'd probably be looking at food and electronics rather than Hermes cologne or Crozes Hermitage wine, however.

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Satish Kumar

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