PAN card holders alert! A single mistake may lead to a whopping Rs 10,000 penalty

Permanent Account Number or PAN Card use has become mandatory for most banking transactions. In fact, like Aadhaar Card, the 10-digit number card is mandatory for availing various welfare measures being run by the government. However, it is important to know that one should fill PAN details very carefully as giving wrong information can lead to an up to Rs 10,000 penalty. In fact, those who have more than one PAN card are also advised to surrender the one that is not in use because it also leads to heavy penalties.

As per the Income Tax Act 1962, the Section 272(B) permits the Income Tax Department to impose penalty of up to Rs 10,000 on the person who has given wrong PAN card information. The Income Tax Department may cancel PAN card for giving wrong information. Even an error in the name is not permitted. So, check each and every detail very minutely after filling your PAN Card details. So, if you are going to file your Income Tax Return (ITR), you are advised to fill your 10-digit PAN details carefully and avoid any kind of penalty.

It has been found that people apply for the PAN Card and after the completion of the whole process, it gets delayed due to the postage problems. In such a scenario, people apply for another PAN card instead of trying to find out one's PAN card status. Such incidents lead to more than one PAN card being issued to the same person. In such a scenario, the PAN card holder is advised to surrender one's PAN card to the Income Tax Department.

How to surrender a PAN Card?

One can surrender a PAN card both online and offline. For surrender of PAN card, the individual is advised to log in at the Income Tax Department official website — incometaxindiaefiling.gov.in. After logging in at the home page, one needs to click at 'Request For New PAN Card Or/ And Changes Or Correction in PAN Data' to download the form. After filling up the form, one can submit that form and the second PAN Card at any of the NSDL offices. For online, one can submit the filled form and the scan copy of the second PAN Card.

Source: https://www.zeebiz.com/personal-finance/news-pan-card-holders-alert-a-single-mistake-may-lead-to-a-whopping-rs-10000-penalty-128914

SBI Card showers benefits on credit card applicants; here are top 5, details on sbicard.com

SBI Card: Credit card is the kind of business that a majority of banks are focusing on aggressively. Being the largest Indian Commercial bank, State Bank of India (SBI) is not a laggard in this banking business.

SBI Card: Credit card is the kind of business that a majority of Indian banks are focusing on aggressively. Being the largest Indian Commercial bank, State Bank of India (SBI) is not a laggard in this banking business. During the COVID-19 lockdown, people have understood the value to be derived from delayed payment as around 25 per cent loan takers have availed the EMI moratorium offered by the Reserve Bank of India (RBI) - delaying EMI is not recommended unless there is a financial emergency as the one caused by coronavirus lokdown currently. 

Credit cards give the facility to buy today and pay later, and for those who are disciplined in their expenses, this can be a good friend in the rainy days.

Therefore, realising the huge potential of the credit card business segment during the lockdown, SBI Card has come out with various attractive offers. These offers range from 10 times reward points on payments at a particular point of sale (PoS), special reward points in the first 60 days of card issue, etc. SBI card is also offering an annual SBI credit card fee waiver provided the SBI credit card holder has done purchases up to Rs 90,000 or above in a particular financial year.

1] Reward Points: 10 times reward point on dining, movie, departmental and grocery spends. As Unlock 1.0 is implemented, people are expected to spend on movies and dining. So, this offer is eye catching.

2] Bonus Reward Points: SBI card is offering 2000 Bonus Reward Point for Rs 2000 spent in first 60 days post-issue.

3] Fuel Surcharge Waiver: An SBI credit card holder is eligible for 1 per cent fuel surcharge waiver across all petrol pumps. As digital India is gaining traction during lockdown, payments at petrol pumps through digital gateway is advisable. But, you are an SBI Credit Card holder, you are eligible for 1 per cent fuel surcharge waiver.

4] Annual Fee Waiver: SBI card is offering annual fee reversal in case the credit card users has made Rs 90,000 of above payments through the SBI credit card in one financial year.

5] e-Gift: For ELITE cards, the welcome e-gift voucher is worth Rs 5,000 on joining.

Multibagger Stocks

Multibagger stocks are equity shares of a company which generate returns multiple times higher than its associated cost of acquisition. These stocks were first invented by Peter Lynch, published in his book 'One Up on Wall Street'.

Multibaggers of lockdown: These 18 stocks more than doubled investor wealth

A nationwide lockdown of 21 days was imposed by the government from March 24, 2020, and that was the day when D-Street made an intermediate bottom. The S&P BSE Sensex hit an intraday low of 25,638 while the Nifty50 made a swing low of 7511 on March 24, and since then both the benchmark indices have rallied more than 30 percent to climb above crucial resistance levels.

While Sensex and Nifty might have rallied by over 30 percent since March 24, there are 18 stocks in the S&P BSE500 index that have more than doubled investor wealth in the same period. Stocks that have more than doubled investors’ money include EID Parry, Adani Green Energy, IFCI, KRBL, Aurobindo Pharma, HEG, Reliance Power, and Vodafone Idea.

“Stock like Vodafone have witnessed massive erosion in prices. Being highly oversold, these stocks have bounced back. Further, Aurobindo Pharma, Glenmark, and Jubilant Life Science have been in a correction since 2018. Being oversold and the pharma sector reviewing was the initial trigger for these stocks to rally,” Abhishek Karande, CMT, Senior Analyst at Reliance

The next question is – will the winners of the lockdown carry the momentum in the near future as well? Experts feel that much of the rally in the stocks is also on account of speculation; hence, investors could well book profits as uncertainty prevails. “While there are fundamental tailwinds for the sector or stock in particular for many, few scripts have also rallied on account of speculation,” Paras Bothra, President of Equity Research, Ashika Stock Broking told Moneycontrol.

“In any case, there will be a call to book profits every now and then and is the right approach as the uncertainty is likely to prevail for some time,” he said. The one rule which every investor should follow while buying the stock is the core fundamentals of the company and the viability of the business because the post-COVID-19 world might be different from the pre-COVID world.

Not all companies are ideal long-term bets, but some of them are just catching up after witnessing massive selloff in the recent past, suggest experts.“While the stocks on the list might have given significant returns since the 24th of March we believe that Investors should not focus too much on historical returns but rather on the quality of business as we believe that only companies with strong business franchises and revenue visibility will create value for investors over the long run,” Jyoti Roy, DVP Equity Strategist, Angel Broking Ltd told Moneycontrol.

“Therefore, investors would need to evaluate every company in the list on its own merit then take a call whether to continue to remain invested or book profits at current levels. While some of the stocks in the list would fit the bill of long term investable opportunities others may not fit the bill,” he said.

10 Nifty stocks rose over 50%:

The S&P BSE Sensex and Nifty50 have rallied over 30 percent from March 24 and nearly 50 percent of the Nifty50 stocks have outperformed the index since then.

As many as 23 stocks rallied more than 35 percent since March 24, and 10 stocks gave a return of more than 50 percent in the same period.Stocks that rallied more than 50 percent include names like M&M, Tata Motors, Cipla, Reliance Industries, Vedanta, ZEE Entertainment and Bharti Infratel.

Source : https://www.moneycontrol.com/news/business/markets/multibaggers-of-lockdown-these-18-stocks-more-than-doubled-investor-wealth-5377561.html

8 Sustainable Lockdown Life-Lessons

1. WE’VE WOKEN UP TO FOOD WASTE

We throw away ⅓ of ALL the food we produce - that’s 1.3 billion tonnes every year. And around 815 million people worldwide are hungry (this figure does not include any knock-on effects from Covid-19). For those of us that usually take a full cupboard for granted, this could be the wake-up call we need to understand what it’s like for others and how we can do our bit in the future. Simply just buying what we need and what we know we will eat, as well as freezing food to make it last longer, could make a massive difference to food waste numbers, while donating to food banks both now and after the crisis will help those who struggle to put food on the table everyday.

2. WE’VE LEARNT TO LOVE LOCAL

While big supermarkets struggle to cope with demand, many local shops have stayed well-stocked and have been going above and beyond to adapt to help their communities. Understanding that our supply chains are complex, and often unnecessarily long geographically-speaking, could see us make more effort in the future to support our local producers, shops and businesses. Perhaps we will even take the time while we have it to grow our own fruit and vegetables.

3. WE’RE GETTING ON OUR BIKES

Because once this is all over, we will still remember what it was like when we were only allowed out once a day. Switching short trips in the car to a walk or a bike ride is great for your physical and mental well-being, pandemic or no pandemic.

4. WE’RE TAKING STOCK OF OUR TRAVEL HABITS

It’s not yet clear when we will be able to travel abroad as freely as we used to, so learning to embrace what your own country has to offer might be the way forward in the near future. And as things get back to normal, we might realise that we don’t need to take a long-haul flight and stay at an all-inclusive hotel to have a lovely vacation. Getting a train for hours will be positively exciting in comparison to three weeks indoors!

5. WE’RE APPRECIATING THE BIRDS AND THE BEES

For many of us, hearing birds singing in the joys of spring from our open windows and balconies has been the uplifting sound we’ve needed every day. Watching bees going about their pollination duties is a joy, and even city pigeons making nests on our windowsills has been a welcome distraction. You can continue to support your local wildlife by providing window boxes of flowers, feeding birds and setting up bug hotels. Remember to take the time to stop and watch them for a few minutes every day when things get back to normal.

6. WE SEE THE BENEFITS OF BUYING BETTER

Many of the items that have been panic-bought are products that when bought sustainably are never anything to panic about running out of. Buying eco-friendly toilet paper in bulk from companies like Greencane and Who Gives A Crap means you will always have a plentiful supply, using reusable sanitary products like a Mooncup or period pants ensures you have what you need every cycle, and subscribing to washing tablets from Smol will see it delivered through your letterbox, contact-free, at a frequency of your choosing.

7. WE’RE GETTING GOOD AT SEWING

With any luck, we won’t collectively go back to our fast fashion habits after the Covid-19 outbreak. And many people have been using self-isolation as an excuse to reach for a needle and thread to mend clothes that have been neglected at the back of the wardrobe. Some are even learning to make clothes themselves - try platforms like Tilly and the Buttons for patterns to keep you busy.

8. WE’RE ENGAGED AND ACTIVE

Lastly, we’ve seen how coming together the world over can affect real change, really quickly. When we have healed as a human population, we can turn our focus to the climate and our planet, with protests, petitions, movements and action. We’ve never felt more like a global community. Let’s not waste the opportunity to continue to make a difference for everyone who lives on planet Earth.

Everything You Wanted To Know About Stock Market Investing book by By TV18 Broadcast LTD (CNBC TV18)

Everything You Wanted To Know About Stock Market Investing book by By TV18 Broadcast LTD (CNBC TV18)

Equity is one of the most rewarding asset classes across the globe.
Yet the majority of the Individuals shy away from equity investing thinking that it’s a complicated exercise and perhaps unsuitable to them.

“Everything you wanted to know about Stock Market Investing” effectively dispels that notion. Using simple language, devoid of scary ‘financial jargon’, it covers all aspects of stock market investing and issues that are tangential too.

From financial planning and the impact of inflation on investments, from equity investing strategies like top-down and bottom-up investing etc to risk mitigation measures like value averaging, using market volatility, this book makes your knowledge on investing in stocks holistic.

“Everything you wanted to know about Stock Market Investing” also goes beyond just explaining how markets work. With practical tips and illustrations, axioms, action points and test questions it prepares you for your practical journey into the world of stocks.

The book not only helps the investor comprehend the nuances of equity investing for wealth buildup, it also helps the investor understand macroeconomic aspects and their impact on businesses, how to respond in times of panic, how to avoid being the victim of stock market scams, and finally, how to compute equity investment returns before and after tax.
It manages to transform the seemingly formidable task of stock investing into an enjoyable and rewarding exercise that leaves you wanting to know more and do more. It is most definitely the first step for the uninitiated and an actual trigger point for those who have been watching from the wings!

Meet the All-new Kindle - (10th Gen), 6" Display now with Built-in Light, Wi-Fi (White)

All-new Kindle

Accessibility Features	VoiceView screen reader, available over Bluetooth audio, provides spoken feedback allowing you to navigate your device and read books with text-to-speech (available in English only).Learn more. All-new Kindle also includes the ability the ability to adjust font size, font face, line spacing and margins.
Content Formats Supported	Kindle Format 8 (AZW3), Kindle (AZW), TXT, PDF, unprotected MOBI, PRC natively; HTML DOC, DOCX, JPEG, GIF, PNG, PMP through conversion.
Documentation	Quick Start Guide (included in box); All-new Kindle User’s Guide (pre-installed on device) [PDF]. Additional information in multiple languages available online.
Warranty and Service	1 year limited warranty and service included. Use of Kindle is subject to the terms found here. For information on out-of-warranty repair service options please see here.
Included in the Box	Kindle, USB 2.0 charging cable and Quick Start Guide.
Generation	All-new Kindle 10th Generation - 2019 release.
Maximum Retail Price (MRP)	Rs. 7,999

Display	Amazon's 6 inch display, 167 ppi, optimized font technology, 16-level gray scale.
Size	160 x 113 x 8.7 mm
Weight	174 g. Actual size and weight may vary by configuration and manufacturing process
System Requirements	None, fully wireless and doesn't require a computer to download content.
On-Device Storage	4 GB, holds thousands of books.
Cloud Storage	Free cloud storage for all Amazon content
Battery Life	A single charge lasts up to four weeks, based on a half hour of reading per day with wireless off and the light setting at 13. Battery life will vary based on light settings, wireless usage.
Charge Time	Fully charges in approximately 4 hours from a computer via USB cable or with a 5W USB adapter.
Wi-Fi Connectivity	Supports public and private Wi-Fi networks or hotspots that use the 802.11b, 802.11g, or 802.11n standard with support for WEP, WPA and WPA2 security using password authentication or Wi-Fi Protected Setup (WPS).