Author Archives: Loknath Das

No tax exemption if LTCG from sale of residential property is used to buy farm land

Is LTCG exempt if I buy agricultural land by selling a residential property? A portion of this amount was withdrawn from an LTCG deposit account towards partial payment of a housing board property. But the authority is yet to announce allotment. The LTCG deposit scheme is valid only for 2 years. Can it be extended since the allotment procedure has ... Read More »

International Day of Happiness: Money can buy you happiness, but only to a certain point, says Raj Raghunathan

Raj Raghunathan, professor of marketing (consumer behaviour) at University of Texas at Austin and author of ‘If You’re So Smart Why Aren’t you Happy?’, attempts to unravel the relationship between money and happiness. Can money buy you happiness? Perhaps, to some degree, if you manage it well. On International Day of Happiness on Tuesday, Raj Raghunathan, professor of marketing (consumer ... Read More »

You are eligible for the PF interest even if your account has been inoperative

I recently lost my job where I was earning Rs80,000 per month. After staying unemployed for 5 months, I took up a job that is now paying me Rs50,000 per month. I have an EMI of Rs25,000 for the next 7 years. My investments are—Rs35 lakh in fixed deposits, Rs2 lakh lump sum in mutual funds and Rs5 lakh in ... Read More »

Sensex ends 139 pts higher ahead of Fed policy outcome; Realty stocks gain

Photo: Shutterstock Sensex, Nifty rose on Wednesday, with financial stocks accounting for nearly half the gains, while investors awaited the outcome of the US Federal Reserve policy meet later in the day. The Federal Reserve is expected to raise interest rates at its first policy meeting under Chairman Jerome Powell and may signal more hikes are coming in response to tax cuts and government ... Read More »

Rupee dives, market cautious! How a hike in US Fed rates today can impact India

The Federal Reserve’s policy meeting is scheduled today, in which the United States’ central bank is expected to increase interest rates by 25 basis points The Federal Reserve’s policy meeting is scheduled today, in which the United States’ central bank is expected to increase interest rates by 25 basis points. Ahead of the meeting yesterday, anticipating higher rates, not only ... Read More »

What changed for the market while you were sleeping? 12 things you should know

The Nifty failed to close above its crucial 200-days exponential moving average placed around 10,163 on Tuesday. The index formed a bullish candle on the daily close above 10,100 but below its 200-DEMA placed around 10,163. After falling for five consecutive sessions, the Indian market witnessed some bit of value buying along with short coverings at lower levels. However, the ... Read More »

After Tencent and Ctrip, Bank of East Asia eyes more partners for virtual banking

Bank of East Asia, which has teamed up with internet giant Tencent Holdings and online travel provider Ctrip, is seeking more tech partners to develop its virtual banking services, according to deputy chief executive Adrian Li Man-kiu. Hong Kong Monetary Authority, the city’s central bank, which is aggressively pushing the local banking sector to develop fintech, plans to issue its ... Read More »

NPCI asks banks to reject UPI transactions from non-compliant apps

In a circular released on Friday, the National Payments Corporation of India has cracked the whip on non-compliant Unified Payments Interface apps, instructing banks and payment service providers to reject UPI transactions generated from non-compliant apps.The circular sent to all UPI-supported banks in the BHIM ecosystem stated that it is mandatory for all UPI apps to have support for sending or receiving money through virtual payment addresses, generate QR codes for Bharat ... Read More »

Just two things can fix public sector banks’ problems

At the root of the governance problem in public sector banks is the way transfers and promotions are done across all layers. Photo: HT Sometime in late 2017, billionaire diamantaire Nirav Modi walked into the office of the chief executive officer (CEO) and managing director of a large Indian private bank in Mumbai with two of the bank’s directors in ... Read More »

This could get ‘very ugly, very fast’ for Boeing, says one market expert

Boeing lands in correction territory sinking more than 2 percent  18 Hours Ago | 02:19 Boeing is on track for its worst week in two years, and with so much political uncertainty surrounding trade policy, more pain could be ahead, according to one long-time market watcher. “The question is really not economic. It’s political at this point,” Boris Schlossberg, managing director of ... Read More »