Here is what FinMin told me why debt funds taxation was changed

a) Capital Gains taxation is provided when there is risk

b) Earlier debt mutual funds had both interest rate risk & credit risk

c) Most debt fund earlier fell in this category and hence got LTCG benefits

(1/n) Now but scenario has changed

d) Debt Mutual Funds removed interest rate risk in FMPs some time back

e) Now MFs removed Credit Risk also in Bond Index Funds

f) Also they give an indicative return similar to FDs

g) Bulk of long term debt AUM collections are here now

(2/n)

10 Simple Rules to follow for online financial safety

Rule 1: Do not click on ANY links sent to ur SMS or Email id, however genuine the msg/sender seems

Rule 2: Visit online website of your Bank directly by typing it's url in the browser or use the official app only

(1/n) Rule 3: Do not share any of your personal info (Date of Birth, PAN, Aadhar etc) on phone with anyone claiming to be a bank officer.

They may say they need it to verify your account. Disconnect asap

Rule 4: Do not share any OTP or Passwords or PIN or CVV with ANYONE

(2/n)

Become a Shark!

An innovative way to invest in Start-ups - HDFC AMC Select AIF

Here is a thread 🧵with some answers on what this is and what you should know about it

If you have more Qs do let me know in comments and I will try to answer them for you

(1/n) First why Start-ups?

a)Value creation has shifted to private markets
b)Earlier cos used to get listed quite early in their journey in the markets
c)Hence u could participate early in the Wealth creation journey

(2/n)

What is the impact of the Budget on investors? 🧵

Here are details

a) New Life Insurance polices > 5 lacs aggregate premium - Proceeds now taxable (For ULIPs this was already at 2.5 lacs )

Impact - Traditional Insurance becomes unfavorable from 1st April. Rush to buy?

(1/n) b) REITs / InVits - Change in taxation for Repayment of debt. Now even this component in distribution is taxable

For eg: some REITs give income as a large part as this. So that is a negative

Impact - REIT prices should fall a bit

(2/n)

Online Scams are increasing exponentially!

a) A new one is the "Car" scam
b) You buy a new car
c) Data thru RTO is leaked to scamsters
d) They call - with all your details - and say they are calling from the Co.
e) Since they have all ur details, u believe them

(1/n) f) They say the Car Co is offering you a Special Warranty
g) This warranty will cover all your maintenance, parts etc for the life time
g) It's a special one time offer for just Rs. 3000/- + GST (yes they GST, as they want to make it genuine)
h) If you agree....

(2/n)

Will your car insurance claim be rejected from 1st Nov, if you don't have PUC? Is this the new rule?

This is a Q my neighbor asked me. Has the Supreme Court and IRDA mandated this?

I will decode in this thread 🧵what are these new guidelines and how does it impact u

(1/n) Point 1: First the basics

That ur Car shud have a valid PUC is a law.

Not having a valid PUC can lead to fines/penalties by the Traffic Police.

A bad polluting car increases carbon emissions hugely

(2/n)

Vinod Kambli loses Rs. 1 lac in online fraud

In this short thread, I share with you
a) Modus operandi that online fraudsters use and
b) Some basic precautions you should take so that you don't fall prey to these

(1/n)
indiatoday.in/india/story/vi… There are two basic cons, they use

Modus Operandi 1

1. Fraudsters put their own number in front of actual stores (alcohol stores is one eg)
2. Get it on top of Google search (paid marketing)
3. When u search for "Buy rum/wine online", this will come up as a top search

(2/n)

Thread: How to Port your Health Insurance Policy

This is question I get from many people and hence I decided to write a short thread on this

So here are the details

(1/n) Q: What is Porting a Health Insurance Policy?

If you are having your health Insurance policy with Insurer “A” and want to shift it to Insurer “B”, that is called porting your Health Insurance

(Similar to porting your mobile number from one telecom provider to another)

(2/n)

How do you differentiate between a pure investment and an asset?

Asking this as lot of people say Crypto is an asset and some say it is a speculative asset/investment etc etc

So I try to define both these classes and you can correct me if you have different thoughts

(1/n) At the very basic an investment has to preserve ur buying power for the future

An asset can also protect it but it may not protect it also

For eg: earlier Cars used to protect buying power (A Maruti 800 could be sold after 3 years at a higher price, but not so any more)

(2/n)

Today Income Tax Department has announced rollout of a new statement - AIS (Annual Information Statement)

This will give u all details (well almost all!) about YOUR financial transactions during the year

This is a thread to tell u what it is and how do u get the AIS

(1/n) First of all,

What is AIS (Annual Information Statement)?

You know earlier Income Tax used to give statement 26AS

AIS is a much detailed one - with many more details included - like your Savings Interest, all Mutual Fund txns during the year etc

(2/n)

Franklin Templeton (FT) Update:

Lot of investors keep messaging me asking abt
a) Status of Court Hearing
b) Status of the 6 schemes that are being wound down
c) Four schemes being +ve. What does it mean?

So am starting this thread, which I will keep updating regularly

(1/n) First : What is status of Court Hearings?
Court hearings are proceeding on a daily basis

Latest update is SEBI has agreed to give the court
a) Copy of Forensic report done of FT
b) Response of FT on this report
SEBI wants this to be confidential report. Court will decide

(2/n)

Thread on implication of new 26AS Form of Income Tax

Background
On 18July20, Income Tax Dept informed that new 26AS form is implemented

New 26AS will now include certain high value transactions (explained in thread). How does it impact u is what this thread explains

(1/n) First let's start with basics

Q: What is Form 26AS Form?
Ans: Till now Form 26AS, was a statement that IT dept used to provide u to capture

(a) TDS deducted from u (For eg: Ur company deducting TDS on ur salary)
(b) TCS: Tax collected at source (house property etc)

(2/n)

Thread on Stamp Duty on Mutual Funds

From today i.e. 1st July20, Stamp Duty will be applicable on MFs

This thread will answer Qs on impact of this on ur MFs

First How much?
For all Purchases in MFs, u will pay stamp duty of 0.005%
i.e. Rs. 5 for every Rs. 1 lac invested
(1/n) Q: When u say I have to pay stamp duty, how will I pay?

Ans: When u purchase a MF, Stamp Duty will auto-deducted and paid to govt. U don't hv to do anything

For eg: if u invest 1 lac in any MF, the RTA (CAMs or Karvy) will deduct Rs. 5 (0.005%) as Stamp Duty from this

(2/n)

Thread: How to apply for Reliance Rights Issue Shares
This is just to help you with the Basic Qs on "How to"
This thread is NOT about “Should you apply”

Reliance Rights issue will open today and last date is 3rd June to apply

(1/n) 1. If you had Reliance Shares as of 14th May, you are entitled to apply for the Rights too. This entitlement is currently shown in your demat account

2. There is no max limit. You can apply for any number of shares in this issue.

(2/n)

Only for Mutual Fund Distributors:

Some MFDs have asked me the process Declaration of Self Certification (DSC) for FY1920

This is a quick thread to help you do the DSC this year

Option 1: Do Digitally with OTP (No paper work or sign)
Option 2: Print, Sign and Upload

(1/n) Option 1: Digitally with OTP only

1. Go to web.camsonline.com/AMFI/Login.aspx
2. Choose ARN Renewal login
3. Login with ARN, password
4. Go to Update Profile
5. Select Self Declaration
6. Choose OTP Button
7. Choose with sub-broker or no sub broker
8. Tick boxes
9. Click Generate OTP
(2/n)

Tweet Thread on what just happened to Franklin Templeton Funds - Credit Risk Funds

First - Franklin Templeton today announced the winding down of SIX of its Debt Funds (which had credit risk)

This is effective tomorrow i.e. 24th April 2020

This is an unprecedented move
(1/n) Which are these Funds?
These Funds are

Franklin Low Duration
Franklin Dynamic Accrual
Franklin Credit Risk Fund
Franklin Short Term Income
Franklin Ultra Short Bond
Franklin Income Opps Fund

All these funds have been wind down with immediate effect
(2/n)

I am getting a lot of Qs on this - Extension of date for completing your tax savings for this year FY-1920 from 31st March 2020 to 30th June 2020

I will try to answer all the questions in this thread. Pls feel free to ask me anything on this and I will try to answer

(1/n)

https://twitter.com/NagpalManoj/status/1242423573773348864

2/n

First remember these Simple guidelines

1. FY ends in 31March20 as scheduled
2. For purpose of tax savings, earlier u had complete investment in specific instruments till 31st March for it to be considered
3. This date is extended till 30June

Everything else is same