Category: Personal Finance

The CBDT has amended the valuation rules for accommodation perquisite, effective September 1, 2023. The key changes are: Lower perquisite rates and revised city categorization. Introduction of Cost Inflation Index (CII) to cap the perquisite valuation for subsequent years. Change in plinth area and definition of remote work: Temporary accommodation provided to employees at select sites will not be taxable as a perquisite if it meets certain conditions. The amendments are expected to benefit employees, especially those working in remote areas.

Roshi Jain has taken over the reins of HDFC Flexi Cap Fund, one of the largest equity-oriented schemes in India. She has made some subtle changes to the portfolio, such as reducing exposure to the energy and consumer staples sector and increasing allocations to the IT and pharmaceutical sectors. She is confident that she can continue the success of the fund under her leadership.

The Nifty 50 index crossed 20,000 on Sep 11, 2023. Half of the stocks in the index doubled in 3 years. Stocks with significant weight grew notably, but some underweight stocks gained significantly too. Top 10 underweight stocks with highest returns: Tata Motors (+340%), Apollo (+216%), JSW Steel (+186%), Hindalco (+171%), NTPC (+170%), Grasim (+158%), Adani Ports (+157%), ONGC (+150%), IndusInd Bank (+138%). Past performance is not a guarantee of future results.

Retail participation in Indian stock market decreases, but overall traded volume increases. Investors should focus on long-term investing and do their research. Here are the key points from the article: Retail participation in cash/spot segment decreases from 45% to 36.5%. This is likely due to COVID-19, market volatility, and proprietary trading. Overall market traded volume increases. Investors should focus on long-term investing and do their research.

The Reserve Bank of India (RBI) has announced the launch of the Sovereign Gold Bond Scheme 2023-2024 Series II. The price of the bond has been fixed at Rs 5,923 per gram of gold. Investors making payment through digital means will get an additional discount of Rs 50 per gram. The bonds are open to all investors and offer an interest rate of 2.5% per annum. The capital gains are tax-free if the bonds are held till maturity.

SEBI has allowed asset management companies to launch up to 6 new ESG fund categories. These funds will invest in companies that are considered to be environmentally and socially responsible. However, some experts believe that this may confuse investors, who are already overwhelmed with the multitude of fund categories and schemes that are available. Investors should carefully consider their investment goals, risk appetite, and time horizon before investing in any ESG fund.