Archive: March 31, 2022

Smart investment and tax tricks to use before the financial year ends

Jyoti Roy, DVP- Equity Strategist, Angel One Ltd.

As the financial year 2021-22 nears its end, it is time to reevaluate many things around the finances. You will have to look at ways to claim deductions, save taxes and boost net gains. Since the deadline is just a few days away, you have to double your efforts at managing your finances as efficiently as possible. You must make your tax-saving investment by 31st March to claim an income tax deduction.

Ideally, it is best to do the tax planning at the beginning of the year to avoid making any hasty decisions towards the end. Planning tax-saving investment at the beginning of the financial year enables you to choose suitable investments and savings products to achieve the financial goals. It also helps you avoid putting the strain on finances in one month as the investment-related expenses get bunched up.

However, if you haven’t made the investments throughout the year, a few tricks and investments can help you. Firstly, you have to assess your income for the year. It will help you figure out the amount you need to invest in the tax-saving instruments. The next step is to collect all the documents of your big purchases that may count as investments during the year. After this, calculate how much more investments you need. Once you have the figure, here are the following investment and tax tricks that you can use:

Make contributions to NPS and PPF

Contributing to the National Pension Scheme (NPS) and Public Provident Fund (PPF) are the most common ways of claiming tax benefits while saving. PPF provides double benefits of tax-free interest and yearly deductions of Rs 1.5 Lakh. NPS is a pension scheme where you can claim a tax benefit of around Rs 2 Lakh through Sections 80CCD(1), 80CCD(2), and 80CCD(1B).

Saving tax on stock investment of Rs 1 Lakh

As a long-term investor, you may be opposed to the idea of booking profits. However, you must also know that your long term capital gains will be taxed if they exceed Rs 1 Lakh. The idea here is to book the profit now if you are at the threshold of Rs 1 Lakh in LTCG. It is an intelligent move to book the gains below the threshold of Rs. 1 lakh and save on the taxes. You can buy back the stocks at the beginning of the next financial year.

Health and Life insurance premiums

One of the easiest ways to save tax is health and life insurance. Paying the health insurance premiums for policies covering your medical care are tax-deductible. It reduces your taxable income, thereby reducing tax liability. If you are a sole earner in the family paying for the parent’s health insurance policy and spouse and children, you are qualified for deduction under Section 80D of the Income Tax Act. You are allowed to claim a tax deduction of up to Rs 25,000 per financial year for self, spouse and dependent children. If you pay health insurance premium for dependent parents, you are qualified for an additional deduction of Rs 25,000 if they are not senior citizens. In case, either or both of your parents are senior citizens, this limit escalates to Rs 50,000. Effectively, one can get up to Rs 75,000 in tax deductions on purchasing a health insurance policy for self and parents.

Similarly, taking life insurance offers tax benefits under Section 80C of the Income Tax Act 1961. An individual can claim up to Rs 150,000 per year against a life insurance policy’s premium. The tax can be saved on premiums of plans for yourself, spouse or children.

Home Loan

Suppose you have taken a home loan and are now repaying the loan amount with interest. In that case, you must know that you’re eligible for tax deductions of up to Rs 1.5 Lakh on principal repayment under Section 80C and up to Rs 2 Lakh on the interest repayment under Section 24B.

While these are some of the hacks for saving taxes, you must also clear any pending tax returns that need to be filed as missing a deadline is never a good idea and only means an additional penalty. Follow the checklist and save whatever you can. For next year, plan ahead.

Experience an Aussie Barbeque with a beach view at Novotel Mumbai Juhu Beach!

Music, barbeque, drinks and grills, is there a better way to bring in the summer? Novotel Mumbai Juhu Beach is hosting an Australian-themed BBQ with a beach view hosted by MasterChef Australia 2019 contestant Sandeep Pandit, MasterChef India 2019 Season 6 contestant Natasha Gandhi and the hotel’s Executive Chef Jerson Fernandes.

You can enjoy a mesmerising sunset view, with a glass of wine or beer along with a delightful BBQ combo. The Aussie Live BBQ station will serve everything from BBQ chicken drumsticks and wings to cottage cheese and vegetable skewers to lemon and chilli rubbed corn on the cob. The event also has a charcoal grill counter offering a variety of mouth-watering dishes such as Peshawari Murgh Tikka, Tawa Prawns, Mushroom Galouti Kebab, Paneer Punjabi Tikka and much more. If your stomach isn’t rumbling of hunger yet, there’s also an assortment of burgers, pizzas and rolls to be followed by a variety of desserts.

Enjoy live music while you treat your taste buds to a variety of food prepared by the experts in the culinary field! Come in with your friends and family at the Aussie Sundowner BBQ event for an unforgettable Friday evening.

Date: Friday, 1st April, 2022
Venue: Novotel Mumbai Juhu Beach
Timing: 6 pm onwards
Entry Fee: INR 2599 plus taxes per person (includes unlimited food and one glass of wine/ beer)
For reservations and more details: +91 91679 98960/ h6926-fb1@accor.com

This Summer beat the heat with the coolest offers from Symphony Air Coolers, exclusively available on Symphony e-Shop

Hyderabad, India, March 2022: Symphony Limited, world’s largest manufacturer of air-coolers has recently launched its Direct-to-Consumer (D2C) website. At a time when more consumers prefer ordering online, Symphony ltd wants to ensure that the brand is omnipresent and is easily accessible across all touchpoints by their consumers. With the launch of the D2C website, the company has gone one step further with multiple offerings. The brand has offered a special discount of 250 INR for the first-time users who can avail it with coupon code WELCOME250 and get free delivery of the coolers across India.

Staying true to its ethos, Symphony has become synonymous with technology, innovation, and great customer service since 1988. Consumers can now buy genuine Symphony air coolers with just a click from the comfort of their homes and enjoy fast delivery and easy replacement options. The brand has taken care of all needs and requirement of consumers while going digital. In case if there is any issue with the products, consumers can raise product replacement request within ten days of purchase.

Commenting on the launch of D2C website, Mr. Achal Bakeri, Founder, Chairman & Managing Director, Symphony Limited said, “In today’s fast-paced world, going digital is crucial to meet with the growing consumers’ demand. The need for quality products and increased disposable incomes are some of the key factors driving the direct to consumers (D2C) space in India. As per data by Technopak, the D2C channel has grown around 20% in the past two years, led by the pandemic-infused demand, and it is expected to grow 15-20% in the next five years. We are thrilled to launch our D2C website that will help consumers place an order with just a click. We look forward to expand our horizons through this digital journey and offer seamless experience to our customers.” 

Consumers can find a wide range of air coolers on the website starting from personal cooler with 22-liter tank to a large space cooler with 200-liter tank. Symphony offers a unique combination of eco-friendly air-coolers saving up to 90% electricity as compared to any other cooling device. Whether one is looking for a cooling solution for a small area or a commercial space, or a cooler with a remote or digital screen, the brand has made sure that there is a product for any and every kind of requirement. The brand has multiple blog posts on the website which can help consumer select the perfect air cooler as per their needs and requirements.

SEBI Announces Ideathon “Manthan” To promote Innovation in the Securities Market

Mumbai/Bengaluru, March 31, 2022: SEBI in association with the other market infrastructure institutions & QRTAs, has announced the launch of ‘Manthan’, an Ideathon for supporting new ideas and innovations in the securities market. The Ideathon was formally launched by Ms. Madhabi Puri Buch Chairperson, SEBI, at a function held in Mumbai on Wednesday, March 30, 2022.

Launching the Ideathon, Ms. Buch highlighted that the adoption of Financial Technology (FinTech) in the securities market presents significant opportunities for stakeholders.

Adoption of FinTech can go a long way in democratizing financial services, making services cheaper and more accessible to the masses, thereby laying the cornerstone for financial inclusion. Similarly, Regulatory Technology (RegTech) and Supervisory Technology (SupTech) present opportunities to have effective regulation of the market while lowering the cost of compliance for the market participants. Ms. Buch pointed out that, backed by a rich tradition of entrepreneurship and innovation, India is well-positioned to leverage technology in the securities market, to deliver customised solutions at very low costs, to individuals even in the nooks and corners of our country.

SEBI has already facilitated the market and innovators to explore new ideas through the sandbox framework, which provides access to various test environments. Ideathon is another step in this direction. Ms. Buch stated that the focus of Manthan is on ideation, that it is SEBI’s belief that every single idea is worth evaluating – participants are encouraged to bring out any idea, even those which may not be achievable immediately.

SEBI Whole-time Members, Executive Directors, various SEBI committee members and officials from the Market Infrastructure Institutions (MIIs) and QRTAs also attended the launch event and expressed their optimism on the role that Ideathons and Hackathons can play in fostering innovation.

More about Manthan and Who can Participate:

Manthan is a 6-week long Ideathon by SEBI in association with BSE, NSE, NSDL, CDSL, KFintech, CAMS, Link Intime and MCX to promote innovation in the securities market. Manthan will facilitate the creation of a pool of ideas and innovative solutions revolving around the securities market. Going forward, workable ideas emanating from Manthan may translate into possibilities and prototypes through a Hackathon.

Anyone over 16 years of age- students, start-up founders, professionals from any field -can participate by submitting their ideas at https://manthan.devfolio.co/. The event is open for registration from March 30, 2022 to May 14, 2022.

Registered participants need to submit their ideas in a video format, not more than 5 minutes in length. Each entry will be evaluated by an esteemed jury on criteria such as completeness, viability, functionality, Originality and impact.

As part of the Ideathon, interactive knowledge sharing sessions will be organized for registered participants through webinars to facilitate the submission of strong and truly innovative ideas. Top 10 winners of the Ideathon stand to win cash prizes worth a total of Rs. 5,00,000/-

Key Themes for Manthan:
The key themes for Manthan have been chosen to promote /ensure a healthy and safe growth environment for investors and to keep up the spirit of the Government’s thrust towards digitally empowered society and knowledge economy.

The themes are:

• Investor Education, Protection and ease of investing: the focus of this theme is on fraud prevention, investor education and inclusive growth through product innovation
  Securities Market Development: While securities market investment is one of the oldest forms of retail investment products, Manthan invites ideas that revolve around use of technology to support product innovation, increasing access to new customers and in the commodities markets
• Market Regulation: financial services are increasingly being offered as combination of multiple financial products on tech enabled platforms. Such offerings while convenient for the customers, often are not clear on regulatory requirements. Manthan invites RegTech and SupTech ideas to help bridge the regulatory gap while using new business models and tech platforms for securities market
• Integration within the Financial ecosystem: it is important integrate to securities market integration with other financial services ecosystem to support growth. Manthan encourages ideas that supports the integration by reducing duplication of processes such as KYC and onboarding and other challenges faced by investors.

For further media queries, please contact:
Nisha Khetan: +91-98203 48387; Saleela Kappan: +91- 99801 88398

Make this summer stylish with MiniKlub’s Loungewear

Miniklub the house of quality fashion apparel for the lil ones introduces ‘lounge wear’ for kids this summer.

Gone are the days of wearing jeans, cotton pants, and shirts, your baby’s new season wardrobe must embrace cool loungewear.

This versatile high on fashion yet comfortable range is made from a combination of light cotton fabrics with elasticity to give extra comfort for kids to suit their active lifestyle. The lounge wear collection is designed with trendy solids, textured fabrics to make them stand out in the clan for sure. Kids can just carry them off with ease for fun times or even a casual outing.

This cozy loungewear range will be a must have essentials for this summer. So add these pieces to your cart right away!

Range starts from Rs.999 onwards for kids of Age 1- 6 years

Accessibility:

Available at exclusive Miniklub brand outlets across 2 cities and (https://miniklub.in/)

Also available on leading online shopping sites

About Miniklub:

Miniklub started its retail journey in the year 2013 with the vision of providing international quality apparel in India. In just a few years, Miniklub has established 85% coverage across India. 450+ multi-brand outlets, leading to large and regional large-format stores. They have a strong market presence with Myntra, Amazon, Flipkart, and Ajio. One can shop online on miniklub.in as well. We launched Miniklub with an apparel range for new born to 2 years, and as we started our exclusive outlets across India, we extended our offerings from new born to 8 years, adding non-apparel to our range to be a complete baby solution brand. In partnership with John Lewis, the largest co-operative in the UK, Miniklub also launched its sub brand Mini Cuddles in the UK. Mini Cuddles has a comfortable fashion line for newborns to two-year-olds.

V- Guard launches the “Romanza Art” – A one of its kind feature loaded premium decorative art fan

New Delhi//Hyderabad, 31st March 2022: V- Guard Industries Ltd., India’s leading consumer electrical and electronics manufacturer has introduced its premium new decorative dust repellent art fan, “Romanza Art”.

The fans market is estimated at 10,000 crores (FY 23) growing at a CAGR of 7-8%. V-Guard has a share of about 3-4% in the organized market, slightly more indexed towards the South. The premium Decorative segment is estimated to be valued at 4200 crores (FY23) and is growing at a CAGR of 28-30 % with increasing adoption of premium products by consumers. V-Guard has a 5% share in this segment.

The Romanza Art fan is manufactured at the state-of-the-art V-Guard facility at Roorkee, Uttarakhand. The facility built over 2.26 lakhs square feet boasts of sophisticated machinery with a production capacity of 24 lakhs fans annually. This premium new decorative dust repellent art fan is manufactured at this facility.

The Romanza Art fan is embellished with an exquisite design that combines Indian and floral contemporary art to adorn your living spaces and is a treat for art lovers. It also comes with advanced IMD technology ensuring longevity of the stunning art forms and trendy graphics.

Romanza is also equipped with a 400 RPM speed which makes it the best in class and superior air class delivery – 240m3/min. If that is not enough this outstanding crafted fan is loaded with an effective dust repellent coating technology to ward away dust collection on the blades. Moreover, an anti-microbial coating restrains microbial growth ensuring a safe and hygienic environment. An anti-stain and anti-fade coating ensures a sustained new look for the fan. Backed by a 5-year warranty, superior gloss and matte surface finish and prolonged corrosion resistance makes Romanza Art Fan truly one of its kind.

Romanza is attractively priced at INR 4850

Commenting on the new launch Mr. V Ramachandran, Director & COO, V-Guard Industries Ltd. mentioned “We are delighted to unleash our premium fan Romanza Art this summer. In sync with the aspirations of the new age consumer, we have manufactured in our own state-of-the-art manufacturing facility this aesthetically superior fan inspired by contemporary Indian & floral art form. Moreover, we packed our fan with a host of superior features empowering our discerning consumers with a fan that is truly one of its kind”

Click here to know more about Romanza : https://www.youtube.com/watch?v=5twcoirafIE

Photo Caption: On the occasion of the Romanza Art Fan launch, V.Ramachandran, Director & COO, V Guard Industries Ltd, Nandagopal Nair, Vice President, Head of Brand & Communication, Sumit Jha, Senior General Manager – Marketing, and Jaimon Mathew, National Product Head ( Fans) were present.

Acer launches all-new refresh Acer Nitro 5 with 12th Gen Intel® Core i5 and Core i7 processors and NVIDIA® GeForce RTX™ 30 Series GPUs for a powerful gaming performance

Bengaluru, 31st March 2022: Acer, the leading PC brand today announced the launch of the all-new Nitro 5 powered by 12th Gen Intel core i7 processor. The laptop has a thin bezel with an 80% Screen-to-body ratio, 165Hz refresh rate, and 3ms response time. It also comes with Windows 11 and a redesigned chassis that features dual-fan cooling, an intake on both the chassis’ top and bottom and four exhaust ports. Users needing more or less cooling power can control fan speeds with the NitroSense utility app, a built-in software solution that also enables users to overclock their CPU/GPU and customize the 4-zone RGB keyboard’s lighting. Other important features of the newly launched laptop include a DTS: X® Ultra audio, Acer Purified. Voice technology with AI noise reduction in dual built-in microphones, Webcam with Temporal Noise Reduction, Killer DoubleShotTM Pro, and ThunderboltTM 4 Type-C port.

The new Nitro 5 is designed especially for gamers who demand extra features and a more immersive user experience.

On launching the latest laptop Nandakumar, Director – Product Management, Acer India, stated, “Acer Nitro series of laptops carry the unbeatable legacy of powerful gaming experience with the latest technology at value price points. Gaming taking the centre stage for the past few years, Nitro 5 laptop comes with the latest new and improved 12th generation Intel core i7 processor that offers exceptional gaming performance and we are proud and elated to bring this new laptop to Indian gaming enthusiasts. The newly launched Nitro 5 sports a classic look with its refined new chassis and screen giving our users a premium gaming experience.”

DOMINATING SPECS

Reign over the game world with the combined power of a 12th Gen Intel® Core™ i7 processor and NVIDIA® GeForce RTX™ 30 Series GPUs (fully optimized for maximum MGP). Configure the laptop for maximum speed and massive storage with two slots for M.2 PCIe SSDs1 and up to 32GB of DDR4 3200 RAM.

VISUAL INTENSITY

With a lightning-quick 165Hz refresh rate and 3ms response time, the game sessions will be fluid, unbroken, and unmatched. Now users can land those reflexive shots with pinpoint accuracy and minimal ghosting.

COOLNESS UNDER FIRE

The newly refined chassis comes with a few extra tricks up its sleeve in the form of dual-fan cooling strategically placed at the top & bottom intake with a quad-exhaust port design. The Nitro 5 maximizes cooling to eliminate throttling and achieve full CPU / GPU utilization. Call up the NitroSense UI with a single touch of the dedicated NitroSense key to instantly visualize your component temperature, loading performance, power plan, and more. Users can also optimize the laptop with different modes.

THE KEY TO VICTORY

Spice things up with the 4-zone RGB keyboard and take command of the inner workings of the laptop via the dedicated NitroSense Key. The WASD and arrow keys are also highlighted for easy visibility for those clutch moments.

BREAKING THE SOUND BARRIER

Better audio delivers a competitive edge as well as a more immersive experience through dual 2W speakers. With DTS:X® Ultra, sounds are clear and can be delivered in a 3D spatial soundscape, allowing gamers to hear where their opponents are coming from with pinpoint precision.

KILLER CONNECTIVITY

Get an edge online by taking control of the network and prioritizing the gameplay with Killer™ Ethernet E2600 and Intel® Killer™ Wi-Fi 6 AX1650i. Plug all the peripherals into the full range of ports, including HDMI 2.1 and the ThunderboltTM 4 Type-C port.

PRICING AND AVAILABILITY:

Nitro 5 is available on store.acer.com, Acer Exclusive Stores, Amazon, Croma & Vijay Sales

Delhi NCR, Mumbai and Pune see faster revival in return to workplaces

India, 31 March 2022: Occupiers in India have started opening their doors to employees after a hiatus of two years. Over the last two months, cities like Delhi NCR, Mumbai and Pune have seen employees returning to workplaces at a relatively faster rate. These cities have economically well-diversified commercial markets spanning trading & manufacturing, BFSI, which are contact-intensive services. Moreover, domestic companies have been at the forefront of bringing employees back to offices in a phased manner. Service-oriented markets such as Bengaluru and Hyderabad, which have a strong technology base have also seen a steady return of employees to their workplaces.

The overall market is seeing a surge in workplaces opening in the last few months after the diminishing impact of the third wave of Covid-19, and good vaccination coverage among the eligible population. Beginning March 2022, several technologies and IT companies have started calling employees to the workplace at least two times a week, with most of these majors opting for a hybrid work policy.

Some global companies and MNCs have reopened with a hybrid model of working, but many continue to chalk out their hybrid policies. Overall technology companies are taking more time to develop policies as they continue to work remotely. Indian IT companies have started opening offices in March 2022, with many of the companies planning to return to offices in a phased manner beginning in April 2022. At some companies, the senior management employees are coming into the workplace a few times a week. Consulting companies have also adopted a hybrid work model with employees coming into the workplace 2-3 times a week on a rotational basis.

“Returning to the workplace has been a running theme for the last two years, soon after every wave. However, we are seeing companies opening the office with greater fervour only now. Q2 2022 will be a crucial period as we expect more companies to open up workplaces to their employees through a hybrid model. We have already started seeing companies encouraging in-person team meetings, team huddles and brainstorming meets that were done virtually over the last two years. We are also seeing companies opting for next-gen office spaces that act as centres of collaboration and innovation,” said Ramesh Nair, CEO, India and Managing Director, Market Development, Asia, Colliers.

Overall, business sentiments have significantly improved after the third wave of Covid-19 in January 2022. To corroborate the above trend, Colliers studied the key trends emerging from the Google Covid-19 Community Mobility Reports to understand the change in patterns of visits to workplaces across the top six cities. The study showed that Delhi NCR, Mumbai and Pune have seen a steady increase in visits to workplaces, compared to other cities and are almost inching towards pre-pandemic level. Having said that, the traffic has significantly improved across all the cities in the last 2 weeks. (The visit to the workplace is a comparison of visits in March 2022 from a baseline of five weeks between January-February 2020 pre Covid-19).

Companies need to focus on ‘What will employee want in the workplace’

Overall, occupiers are showing a clear preference for next-generation offices. The focus needs to be on building the office for employees wants, which will keep ‘employee experience’ at its core.

Companies can overcome employees’ fatigue to resume office by making the workplace safety compliant. These new-age offices will promote health, safety, protection and wellness through various facets. At the same time, technology will be an important enabler as offices evolve into a space for collaboration, innovation, socializing.

Source: Colliers

Landlords and developers can also focus on:

a) High-performance buildings (A high-performance building facilities technology, environment, energy and efficiency parameters to enable greater productivity, health and wellness.)

b) More space for common amenities

c) Sustained wellness measures to bring back employees to offices and highlighting the same to tenants

d) Assisting tenants with renovations to maintain social distancing requirements

There will be immense scope for landlords to upgrade existing facilities. Colliers estimates that landlords and developers have a scope to upgrade around 100 million sq feet of office space in the top six cities, accounting for 14% of the existing stock. Retrofitting of buildings is crucial and can fetch as much 20% increase in rents for developers/landlords. Upgradation should make these offices more attractive to occupiers, leading to a) increased rents and lower vacancy levels, b) high tech buildings and c) sustainability benefits like reduction in carbon emissions.