Gold Bond Scheme open for subscription: All you need to know

Gold Bond Scheme: The new series of the Sovereign Gold Bond (SGB) Scheme opened for subscription on Monday. This is the third tranche in Fiscal Year 2020 and the subscription closes on August 9. “The issue price of the Bond during this subscription period shall be Rs 3,499 per gram with settlement date August 14, 2019,” the finance ministry said in a statement. It will close on August 9. The bonds will be issued on August 14, 2019. 

The government is coming out with sovereign gold bonds at a time when domestic gold prices have hit records high.The issue price for Sovereign Gold Bonds 2019-20-Series-III is Rs 3,499 per gram and the government is offering a discount of Rs 50 per gram for the investors applying online. For such investors, the issue price will be Rs 3,449 per gram.

The nominal value of the bond is based on the simple average closing price for gold of 999 purity as published by the India Bullion and Jewellers Association Ltd (IBJA) over the last three business days of the week preceding the subscription period (July 31 to August 2, 2019). The series coincides with a spike in the yellow metal’s prices. Gold prices surged Rs 800 to hit an all-time high of Rs 36,970 per 10 gram at the bullion market on Monday.

Gold Bond Scheme open for subscription: All you need to know

If you want to invest in gold as an asset class, then investing via sovereign gold bond is a good option, say financial planners. These gold bonds can be purchased either online or through offline modes – banks, post offices and other designated agents such as Sebi authorized trading members.

Gold Bond Scheme: Things to know

  1. The gold bonds are issued in denominations of one gram and in multiples thereof. 
  2. Sovereign gold bonds pay an interest at the rate of 2.50% per annum on the issue price. Interest is credited semi-annually to the investor’s account.
  3. The maximum limit of subscription of 4 kg for individuals and Hindu Undivided Family (HUF) per fiscal year, while that for trusts and similar entities is 20 kg.
  4. The maturity of sovereign gold bond is 8 years. The redemption price will be linked to the prevailing price of gold.
  5. The minimum investment amount is 1 gram.
  6. The last interest will be payable on maturity along with the principal.
  7. Premature redemption of sovereign gold bond is permitted after fifth year of the date of issue of the
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A Merger Of 2 Dth Giants:Dish TV With Airtel Digital TV

Bharti Airtel, Dish TV and Warburg Pincus have reached agreement over merger, working upon modalities.

Sunil Bharti Mittal’s direct-to-home arm Airtel Digital TV, private equity firm Warburg Pincus and Dish TVNSE 0.21 % have reached an agreement for merger and a formal announcement is expected in 4-6 weeks, two people with direct knowledge of the development told ET.

Together, Airtel Digital TV merger Dish TV will create the world’s largest TV distribution company with about 39 million subscribers and over 61% share of India’s DTH market.

Airtel dth merger with dish tv

In the July month when the talks about the Airtel Digital TV and Dish TV merger moved ahead, the Warburg-Singtel duo were offering the share price of Rs 35 per share. At this price, the buyers were looking towards a 57.52% stake in Dish TV. At the proposed share price, Dish TV would have received Rs 3,707 crore, but Dish TV had remarked that it was looking for a much higher price of Rs 45 per share. This would have netted the Essen Group Owned DTH company Rs 4,766 crore. In the meantime, the shares of Dish TV India have been falling, and the market has been seeing big corrections in the prices. If the merger goes through then together, Airtel Digital TV and Dish TV will be able to fend off Reliance Jio and its pursuit of conquering the DTH and broadband sector.


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Education Loan: Eligibility, Interest Rates, Documents Required – Check Here

Education Loan: Quality education is a must for a complete and successful life. For many, it is equivalent to graduating from a top institution. The cost of education is, however, increasing rapidly. In fact, the cost of studying at reputed institutions is already quite high. Education is of prime importance to any individual and students go the extra mile to achieve that. However, the cost of education is on the rise these days and opting for an education loan seems to be the single best solution.

Keeping this in mind, parents, who want to provide their children with the best possible education, invest their money in mutual funds, fixed deposits, etc. for the long term. But despite all this, one may still encounter shortage of funds. An Education Loan therefore, plays a vital role in such a scenario by helping to bridge the gap between the shortfall and the required amount. 

Education loan is a loan that students apply for in order to complete their educational requirements.  Almost all banks & NBFCs in India offer education loans.

The cost of education is increasing at an average of 15% per annum. The tentative cost of an MBA is up from Rs 2.5 lakh to Rs 20 lakh in 15 years. So if a couple starts saving Rs 2,000 per month for 15 years, at an average rate of 12%, they will be able to save approximately Rs 9.5 lakh. 

Education Loan: Eligibility, Interest Rates, Documents Required – Check Here

Education Loan: Interest Rates

  • Interest Rate – 9.15% to 11.15%
  • Processing Fees – NIL
  • Maximum Tenure – 10 Years
  • Lowest EMI – Rs 8,722/Lakh
  • Prepayment Charges – NIL
  • Age – Up to 35 Years

Education Loan: Documents Required

For Salaried – 

  • Application form with photograph
  • Identity and Residence proof
  • Last 6 months bank statements
  • Processing fee cheque
  • Latest Salary Slip
  • Form 16

For Self-employed – 

  • Application form with photograph
  • Identity and Residence proof
  • Last 6 months bank statements
  • Processing fee cheque
  • Proof of Business
  • Business Profile and Previous 3 years Income Tax returns (self and business)
  • Previous 3 years Profit/Loss and Balance Sheet

The banks require additional documents such as admission letter of the institution, fee structure, Class X, XII and graduation (if applicable) marksheets. Also required are the income documents such as salary slips or income-tax returns (ITR) of the co-applicant. 

Education Loan: Eligibility

  • To apply for the loan, one must be an Indian citizen, having secured an admission into a college/university recognised by a
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New Income Tax Refund Rules: Linking Bank account with PAN is mandatory

New Income Tax Refund Rules: The income tax department has brought in a new rule from this assessment year without which you will not be able to get any tax refunds. So far the requirement was only to link your PAN (Permanent Account Number) with Aadhaar card to file income tax returns (ITR) but now Linking Bank account with PAN Card is mandatory.

Now the Income Tax department has started issuing income tax refunds only through e-mode. The new rule means that the earlier practice of sending tax refund cheques through Speed Post has been done away with. This is also beneficial for ITR filers as sometimes these cheques used to get delayed. Although the Income Tax department had been sending e-refunds for the last few years, it is only in the last few months that the practice of issuing cheques has stopped completely.

New Income Tax Refund Rules: Linking Bank account with PAN is mandatory

File Your Income Tax Return Now

New Income Tax Refund Rules: HIGHLIGHTS

  • Taxpayers whose bank accounts are not linked with PAN cards are likely to face trouble in getting income tax refunds.
  • Linking your bank account with PAN is quite simple.

The taxman will credit refund directly to your bank account only under one condition – the bank account should be linked with your PAN. If the linkage is complete, the income tax department has promised to issue tax refund directly into your bank account in a swift and secure manner.The bank account for getting tax refund can be a savings, current, cash or even an OD account but the PAN linkage is mandatory.

Linking your bank account with PAN is not a complicated process.

  • Just ensure that you have shared a copy of your PAN card with your bank branch.
  • If they have PAN in their records, the two should get linked automatically.
  • In case the linkage doesn’t happen, the Income Tax department has asked taxpayers to contact the bank.

The taxman has also provided a facility to check if the PAN-Bank account linkage is done.

  • You can go to the income tax department’s e-filing Portal.
  • Click on the profile setting section.
  • Then go to “Prevalidate Your Bank Account” where you can check whether any of your bank accounts are already validated or not.
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Airtel Becomes No 2 By Beating Voda-Idea

Focus on data subscribers and weeding out low revenue customers have helped Bharti Airtel, while its peer Vodafone Idea could not implement the strategy.

However, network and content costs are on the rise for Bharti as it witnesses a steady rise in mobile data customers.

Further, Airtel’s reported mobile revenues for the April-June quarter (Q1) was Rs 10,866 crore.

This makes it the number 2 player after Reliance Jio in terms of mobile services revenues, analysts claimed.

Airtel Becomes No 2 By Beating Voda-Idea

Vodafone Idea, which does not share the break-up of revenues, reported an overall revenue figure of Rs 11,269 crore for Q1.

Adjusting for it, the mobile service revenues for Vodafone Idea would be Rs 10,669 crore, making it the third-largest telecom firm by mobile revenue after Jio’s figure of Rs 11,679 crore.

Bharti Airtel lost only 1.5 million subscribers in June quarter, against 14 million subscribers lost by Vodafone Idea.

Airtel had managed to keep operating expenditure costs under control over the past two years, with only 7.5 per cent growth YoY.

The aggressive spending on content has, however, converted to rapid growth in Airtel’s 4G base in the past one year.

In Q1 FY19, Airtel and Vodafone Idea had almost equal, roughly 58 million, 4G subscribers.

In Q1 of 2019-20, Airtel raced ahead to 95 million subscribers, 11 million ahead of Vodafone Idea’s.

While Vodafone Idea gained 4 per cent in terms of average revenue per user (ARPU), even as it lost 14 million subscribers, Airtel registered an industry-best ARPU of Rs 129 for Q1, a 5 per cent growth.

In the bargain, it only lost 1.5 million subscribers.

Analysts see this as a positive sign.

Airtel was able to retain its top slot in the market in terms of revenue, as its top line was up 2.8 per cent at Rs 15,345 crore.

Vodafone Idea posted revenues of Rs 11,269.9 crore in Q1 and Jio’s revenues were Rs 11,679 crore. Bharti Airtel’s India revenue is an integrated number comprising wireless, landline and broadband services.

In Q1 of the current financial year, Airtel’s mobile revenues witnessed YoY growth of 3.7 per cent.…

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Flipkart’s Free Video Streaming Service to challenge Amazon, Netflix resizeimage 2019 08 05T162245.258 - Flipkart’s Free Video Streaming Service to challenge Amazon, Netflix

Flipkart’s Free Video Streaming: Indian e-commerce giant, Flipkart, is all set to venture into the streaming domain pretty soon. The company is planning to launch its own video streaming service in India pre-Diwali. Walmart-owned Flipkart plans to open a new front in its ongoing battle with arch-rival Amazon for supremacy in the Indian market. This time the theatre of action will be India’s Rs 4,462 crore video streaming industry.

Flipkart will launch free video streaming before Diwali, for its ‘Plus’ premium subscribers, sources told Network18.

If the e-commerce war between Flipkart (now Walmart) and Amazon India wasn’t enough, the two could soon battle it out in the video streaming domain as well. According to a report coming in from Network18, Flipkart is now planning to launch its own video streaming platform, just days ahead of the festival of Diwali. Needless to say, this will be a measure to take on Amazon Prime in specific, and the video streaming market in general.

Flipkart’s Free Video Streaming: Updates

  • India’s biggest online retailer plans to roll out video streaming for members of its Flipkart Plus Loyalty Program by September ahead of the peak Diwali shopping season, people familiar with its plans said. The service is currently in beta mode, the people said, asking not to be identified discussing internal strategy.
  • A source close to the development told Network18, that “Video was missing, and we will have it soon. Video has its own merits in a country that lives and breathes cinema”. Apparently, this new video streaming service will be available to Flipkart’s Plus users only for now.
  • Flipkart already has about five-six million Plus members who enjoy the benefits of special deals and faster delivery. “They can now watch movies and episodic content free of cost,” the first source said.
  • “A combination of e-commerce services and entertainment services is fairly unique. This combination helps in bringing more Prime customers,” said Ujjwal Chaudhry, Director – Consumer Internet, Redseer.

Flipkart Plus is a rewards and loyalty program like Amazon’s Prime membership, which offers faster shipping and exclusive deals. The only difference between Flipkart Plus and Prime is that the latter offers video content as well, in addition to music. 

Flipkart Plus, unlike Prime, is not a paid subscription. The biggest hurdle, experts would say, to join Prime is that customers are required to pay Rs 1,000 upfront for an annual membership. Not having a paid subscription widens Flipkart’s …

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Term Insurance: Enhance your term cover with accidental death benefit rider

Term Insurance: Life insurance remains one of the most important financial planning tools for every individual who has dependent family members. Hence, it becomes important to invest in a life insurance plan sensibly, after doing intense research on various aspects and keeping various scenarios in mind.

The most valuable product under life insurance is Term Insurance.Term Insurance: Enhance your term cover with accidental death benefit rider Term Insurance is among some of the best and most cost-effective investment modes to financially secure the future of your loved ones, in terms of these uncertainties.

The product comes minus the benefits of investment, maturity and surrender value, and the only advantage being death benefit that dependents of the insured receive upon the death of the policyholder. As per the policy conditions, the entire sum assured is paid out to the nominee/beneficiaries in case of the sudden death of the policyholder within the policy term that maybe 20, 30, 40 or more years.

Benefits of Term Insurance:

  • Get lump sum amount in the event sudden death.
  • See off all your loans and liabilities.
  • Provide money so that your family continues to live with pride.
  • Takes care of your family in case of your disability or critical illness.
  • Provides Supplementary income in case of loss of income due to accidental disability or illness.
  • Get lump sum amount if diagnosed with a critical illness.
  • Additional sum insured in case of accidental death.

Term Insurance: Enhance your term cover with accidental death benefit rider

Term Insurance: Accidental Death Benefit Rider

People involved in a profession that involves great risk or a profession that involves too much driving must make their term plan much more comprehensive by adding Accidental Death Benefit rider to it. Accidental Death Rider is one of the common riders provided by most of the term insurance companies.

  • By opting for this rider, a policyholder gets the extra amount in a lump sum or monthly income whichever way the policyholder thinks are best for the dependents.
  • The premium of the accidental death benefit rider completely depends on the total sum assured. These riders typically end once the insured person reaches age 70.
  • Apart from the Accidental Death Benefit Rider, another important rider in which one must be covered is accidental disability rider. In this cover, if the policyholder becomes disabled as a result of an accident, the insurer offers income to the diseased for a specific period according to the terms of the policy.

The policyholder can also choose to take benefit as a lump

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Kashmir Turmoil: What is Article 370 that govt has proposed to revoke

Article 370: As fear and panic mounted in the state of Jammu and Kashmir, Union Home Minister Amit Shah on Monday moved the proposal to remove Article 370 in the Rajya Sabha amid much uproar.

Before the introduction of the bill, the Kashmir turmoil rocked the Rajya Sabha as Congress leader Ghulam Nabi Azad raised the current situation in Kashmir.

The Union government on Monday moved a resolution in the Rajya Sabha to revoke Article 370 amid uproarious protests from opposition benches. The resolution was moved by Union home minister Amit Shah in the backdrop of growing turmoil in Jammu and Kashmir.

Article 370 of the Constitution is a ‘temporary provision’ which promises to grant autonomous status to Jammu and Kashmir and limits Parliament’s powers to make laws for the state. Under Part XXI of the Constitution titled “Temporary, transitional and special provisions”, Article 370 is categorized as a “temporary provision with respect to the State of Jammu & Kashmir.”

Article 370

Jammu and Kashmir will also be “reorganised,” said the Home Minister as talk builds of the state being trifurcated into three distinct areas – Jammu, Kashmir and Ladakh.

The crucial Union Cabinet met at the official residence of Prime Minister in New Delhi on Monday morning. The meeting, chaired by Prime Minister Narendra Modi, was held at 7 Lok Kalyan Marg in New Delhi.

Since Article 370 (1) (d) of the Constitution was issued under Presidential Order, the President can make certain ‘exceptions and modifications’ to the Constitution for the benefit of ‘State subjects’ of Jammu and Kashmir.

Article 370: Things to know

    1. Article 370 is a ‘temporary provision’ granting Jammu and Kashmir special autonomous status. It allows the state to draft its own Constitution and restricts parliament’s legislative powers over the state.
    2. The article says that the provisions of Article 238, which was omitted from the Constitution in 1956 when Indian states were reorganized, shall not apply to the state of Jammu and Kashmir.
    3. It also confers powers such as the need of “concurrence of the state government” if the central government plans to make amendments to the concurrent list of subjects.
    4. Under this Article, the center can only declare an emergency in the state in case of war or external aggression; this rules out doing so for internal disturbances unless made specifically at the request of the state government.
    5. Article 370 was eventually drafted by Gopalaswami Ayyangar.
    6. Ayyangar
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Link PAN and AADHAR with ITR: How to link PAN Card & Aadhar Card to ITR resizeimage 2019 08 05T115623.866 - Link PAN and AADHAR with ITR: How to link PAN Card & Aadhar Card to ITR

Link PAN and AADHAR with ITR: As per the current income tax laws an individual is required to quote or mention their Aadhar number while filing an income tax return (ITR). Apart from this, individuals are also required by law to link their PAN with their Aadhar number.

If your PAN is not linked with Aadhar, it is likely that you will not be able to file your ITR. The notification issued by the Central Board of Direct Taxes (CBDT) dated March 31, 2019, said that with effect from April 1, 2019, it is mandatory to quote your Aadhaar number while filing ITR as required under section 139AA(1)(ii) unless specifically exempted. The notification further specifies that tax return cannot be filed either electronically or manually without quoting Aadhaar number.

The Government has made it very easy to link PAN and Aadhar with ITR. People can either get their documents linked online or by simply sending the SMS.

Link PAN and AADHAR with ITR by SMS:

The taxpayer has to type a message UIDPAN<space><12 Digit Aadhaar> <space><10 Digit PAN> and the message has to be sent either to 567678 or 56161.

For example, if a taxpayer’s Aadhaar number is 123456789123 and his PAN is ABCDE1234T, he has to type the message UIDPAN 123456789123 ABCDE1234T and send it to 567678 or 56161.

Link PAN and AADHAR with ITR Online:

  • Visit the ITR e-filing website (
  • Click on the Link Aadhaar option in the Services section.
  • Enter your PAN number.
  • Input your Aadhaar number.
  • Enter your name as mentioned in the Aadhaar card.
  • Tick the square if only your birth year is mentioned in your Aadhaar card as the date of birth.
  • Enter the verification code and click on the Link Aadhaar button.

Your Aadhaar will be linked instantly with your PAN. However, your PAN will not be linked with Aadhaar if details like name, gender, and date of birth do not match in both documents. In that case, you will first have to get your details corrected and then link both documents again.…

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Amazon Prime Wardrobe: Free Trial for 7 Days resizeimage 6 - Amazon Prime Wardrobe: Free Trial for 7 Days

Amazon Prime Wardrobe: Often you like a dress, you don’t like a dress; often the clothing you ordered from online fits perfectly or it doesn’t fit. Over a million of apparel and the word ‘impossible’ catches up in the ear when you think of buying or trying out something new. Yes, it was an old way of shopping. Now it is going to be ‘your way of shopping’ with Amazon Prime Wardrobe. Select at least three ‘Amazon Prime Wardrobe-Eligible’ pieces from over a million apparel options and ready to be privileged of trying them on, even before you buy them.

New program ‘Prime Wardrobe’ is one of a kind as the consumers will get a shipment of their selections to their doorstep in a resealable return box with a prepaid shipping label and after they ‘try on’ the clothes in the comfort of their home they can decide whether to have it or leave it at their doorstep for easy returns.

Amazon Prime Wardrobe: How it works

    • Pick three or more items from the clothing, shoes, and accessories category on your digital box at Amazon.
    • Shipment will be done with the resealable box.
    • Try out and decide. You will have seven positive days to think about what to keep and what not to.
    • Complete your purchase on Amazon and select return on the items you wish to return.
    • Schedule a free pick-up with a smile on your face, as unattended pickup makes the return effortless.

This year, as soon as Prime Wardrobe goes live, ‘Fashion Sales’ on Amazon is predicted to hit a new height. Customers are eager to try out the endless possibility delivering from the Amazon. This program is currently in beta stage, but enthusiasts can sign up to get an alert when it officially launches on their region.…

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Government Investment schemes: From PPF to Senior Citizen Scheme to keep your savings 100% safe resizeimage 5 - Government Investment schemes: From PPF to Senior Citizen Scheme to keep your savings 100% safe

Government Investment Schemes: If you want to move to safer havens and invest in fixed income assets, here are a few government investment schemes that come with 100 per cent safety of principal invested and the income earned.

  1. Tax-free bonds – 
    • They are issued primarily by government-backed institutions such as Indian Railway Finance Corporation Ltd (IRFC), Power Finance Corporation Ltd (PFC), National Highways Authority of India (NHAI), Housing and Urban Development Corporation Ltd (HUDCO), Rural Electrification Corporation Ltd (REC), NTPC Ltd and Indian Renewable Energy Development Agency, and most carry the highest safety ratings.
    • Tax-free bonds are long-term investments with tenure of 10, 15, 20 years. The liquidity, however, is low in tax-free bonds and therefore, invest in them only if you are sure that you will not require the funds for such a long period. The interest is tax-free and there is no Tax Deducted at Source (TDS) too.
    • They usually offer annual and not monthly interest payouts hence may not meet a retiree’s regular income requirement. If held till maturity, the safety of principal and interest exists. Currently, the YTM (Yield to maturity) is around 5.9 per cent ( coupon ate is upwards 8 per cent) in tax-free bonds as currently the interest rate is headed downwards.
  2. Public Provident Fund (PPF) –
    • PPF is a long term investment and requires a regular contribution to be paid for 15 years. One may, however, exit after 5 years ( subject to conditions), avail a loan from 4th year and make partial withdrawals after 7th year.
    • As per the rules, one is allowed to open only one account in own name while another can be opened in a minor child’s name. A minimum of Rs 500 and maximum of Rs 1.5 lakh ( self plus minor account) in each financial year can be put into the PPF scheme. While the investment qualifies for tax benefit under Section 80C, the interest earned is tax-exempt.
    • Post maturity, the PPF account can be extended indefinitely in a block of five years. Currently, ( July 1 to September 30, 2019) the PPF account carries an interest rate of 7.9 per cent per cent per annum, compounded annually and is paid on maturity.
  3. Senior Citizen Savings Scheme (SCSS) – 
    • SCSS is a popular investment option for those who are 60 years and above. An individual of the age of 55 years or more but less than
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Loan Against Fixed Deposit: Features, benefits and interest rates resizeimage 1 - Loan Against Fixed Deposit: Features, benefits and interest rates

Loan Against Fixed Deposit: Many people face cash crunch wherein one has to take a loan to deal with one’s financial crisis. Even though there are various options from where you can get a loan, one of the easiest ways to take a loan is a loan against your fixed deposit.

Fixed Deposits (FDs) are still preferred by many people in India and are considered as one of the most popular financial instruments because of their safe and secure nature. The option of taking a loan against your FD just adds to the popularity of the investment. During an emergency, instead of breaking your investment, you can simply opt for a loan. This is an alternative given to the investor by banks, instead of breaking the deposit prematurely.

A Loan against FD is different from the overdraft facility given by banks. Overdrafts are when the bank allows the customer to withdraw some excess amount of money from their account, up to a certain limit. Also, depending on the customer’s profile and credit score, among other things, the overdraft credit limit also changes from time to time. In the case of overdrafts, the interest paid is usually higher than the interest paid on loans.

Industry experts suggest one can opt for a loan against FD when one is looking for a better loan rate when compared to personal loans. Usually, the interest rate on personal loans ranges from 14 percent to 30 percent per annum. Even after taking a loan against your FD, you still continue to earn interest on the deposit.

Loan Against FD: Benefits

  • No need to break Fixed Deposit
  • Lower interest rates
  • Can be availed on any kind of Fixed Deposit (domestic and NRI FDs)
  • Minimal documentation
  • No processing fees

Loan Against FD: Things to know

  • Amount of loan – The amount of loan granted against fixed deposit by banks is a percentage of the FD amount. It ranges between 70% to 95% of the total fixed deposit value. SBI, for instance, has set a limit at 90% of the FD value. So, if you have Rs 10 lakh as Fixed Deposit with the bank, you will be eligible for a loan amount of Rs 9 lakh.
  • Interest rate – The interest rate charged by banks for a loan of Fixed Deposits is usually between 2 and 2.5% more than the interest paid by the bank on
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US-China Trade War: India earns through US – China Trade War

India earns through US-CHINA Trade War: India is among a handful of countries that stand to benefit from the ongoing trade tensions between the world’s top two economies – the US and China, the UN has said in its latest report. The US and China are locked in a trade war since President Donald Trump imposed heavy tariffs on imported steel and aluminum items in March last year, a move that sparked fears of a global trade war. In response, China imposed tit-for-tat tariffs on billions of dollars worth of American imports. 

us china trade war

How India is impacted by the US-China trade war:

There could be a short-term impact on the stock markets. The benchmark Sensex at the Bombay Stock Exchange has been falling in line with global markets that have been spooked by the escalating trade war between the US and China.

In the longer run, while a slowdown in the US economy does not augur well for emerging markets, the trade war could have a silver lining for some countries. India is among a handful of economies that stand to benefit from the trade tensions between the world’s top two economies, the United Nations has said in a report.

Of the $300 billion in Chinese exports that are subject to US tariffs, only about 6% will be picked up by firms in the US, according to a report released in February by the UN Conference on Trade and Development (UNCTAD). EU members are expected to benefit the most, as exports in the bloc are likely to grow by $70 billion; and Japan and Canada will see exports increase by more than $20 billion each, it said.

The UNCTAD study also warns that the spat could hit East Asian producers the hardest, with a projected USD 160 billion contraction in the region’s exports unless discussions between China and the US are resolved before the March 1 deadline. 

The study also underlines the “common concern” that trade disputes have an unavoidable impact on the “still fragile” global economy, particularly in developing, commodity-rich countries that are dependent on exports. 

“One major concern is the risk that trade tensions could spiral into currency wars, making the dollar-denominated debt more difficult to service,” the report added.  Imposing tariffs make US-made products cheaper than imported ones and encourage consumers to buy American. …

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PAN Card Correction: How to request Correction in PAN Card Details resizeimage 73 - PAN Card Correction: How to request Correction in PAN Card Details

PAN Card Correction: The Income Tax Department enables Permanent Account Number (PAN) holders to request a correction or change in their details fed into the database online as well as offline mode. For requesting a change in the details fed into the PAN database offline, the PAN holder is required to fill up and submit a form – provided by the taxman for this purpose – at a PAN facilitation center. For requesting an update or correction online, the PAN holder can use the websites of National Securities Depository Limited (NSDL) and UTI Infrastructure Technology And Services Limited (UTIITSL), according to the Income Tax Department’s website –

PAN Card Correction: Online Procedure

  1. Go to the ‘Update PAN/Aadhaar Details’ section of the Income Tax e-filing website. You can directly go to the page by clicking on this link-
  2. From the ‘Application Type’ dropdown menu, select the third option- ‘Changes or Correction in existing PAN data/Reprint of PAN Card (No changes in Existing PAN Data)’.
  3. From the ‘Category’ dropdown menu, select the correct category of the assessee. For example, if the PAN is registered in your name, select ‘Individual’ from the list.
  4. Scroll below and fill your basic details such as name, date of birth, email ID and mobile number. Fill the Captcha and click submit. Your request will be registered and a Token Number will be sent to the email ID provided by you. You can continue the process by clicking the button given below it.
    • Submit digitally through e-KYC & e-Sign (Paperless)
    • Submit scanned images through e-Sign on NSDL e-gov or C-DAC (e-sign charges are Rs 5.90 in both cases)
    • Forward application documents physically
    • Choose the way you want to submit the documents. After you proceed, you will be redirected to the form. There are three options to submit your documents.
  5. Fill your PAN and Aadhaar Details; other basic details like name and date of birth will be prefilled. Scroll down to the correction part where you will find three options- Photo Mismatch, Signature Mismatch and Details of parents. Tick the box that you want to correct and click on Next.
  6. You are now on the ‘Address and Contact’ page. If you have provided your Aadhaar details and your PAN and Aadhaar are linked, then the residential address will be prefilled. Your corrected PAN Card will be sent at the address mentioned on Aadhaar. In case, you want to update a
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ITR Filing: Income Tax Department launches e-Filing Lite, Check Details resizeimage 2019 08 01T151437.486 - ITR Filing: Income Tax Department launches e-Filing Lite, Check Details

E-Filing Lite: The Income Tax Department has launched a lighter version of E-Filing portal. It is good news for all those taxpayers who wish to only file the Income Tax Return (ITR), the Income Tax Department has launched a lighter version of e-Filing portal, called ‘e-Filing Lite’.

Being a lighter version, the ‘e-Filing Lite’ will not carry the same links as available to the taxpayer on accessing Portal Login on I-T E-filing website.

e-Filing Lite: Important Instructions

  • The facility was operationalized on the official portal of the department.
  • To access ‘e-Filing Lite’, one needs to log on to the e-filing website of the Income Tax department and use the same credentials such as user name and password to file the ITR.
  • There will now be two buttons on the homepage – ‘Portal Login’ button and the ‘e-Filing Lite’ – for the taxpayer to choose from.
  • The e-Filing portal will be providing access only to three sections – Dashboard, My Account and E-File sections.
  • Even under My Account section, only Form 26AS, Pre-filled returns and download of the XML version of pre-filled returns will be possible.
  • Importantly, tax credit mismatch and verification inks will not be there. Under the e-File section, being a lighter version, only e-filing will be possible.
  • By going through the Portal Login, one is able to view the entire gamut of services such as Dashboard, My Account. E-file proceedings, E-nivaran, Compliance, and E-File etc.
  • To link one’s bank account, Aadhaar or to make changes in address, etc, one will have to access this portal.
  • If one already has got all the information including personal details saved in the system, filing of ITR through e-Filing Lite will now be quicker than before.

The last date for filing of ITR for the assessment year 2019-20 has already been extended by the I-T department to August 31.

The Income Tax department has also issued an update that the IT return preparation software is modified to update the Section 234A interest calculation along with certain other minor corrections and the same is available for download. There need not be any excuses now to delay the ITR filing and hence avoid waiting for the last few days to complete the process.…

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