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Mihir

Mihir Tanna  |876 Answers  |Ask -

Tax Expert - Answered on May 08, 2024

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
Manish Question by Manish on Jan 10, 2024Hindi
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My tax query is I had income from equity. I invested in shares through margin trading facility provided by icici direct. I have paid interest to icici direct for the amount they funded through MTF to continue those positions. Can I use this amount paid for interest as my Cost to Acquire to Shares?

Ans: No, interest is not considered as cost for calculating capital gain.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Ramalingam

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Mutual Funds, Financial Planning Expert - Answered on May 02, 2024

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I am buying MFs through icici direct It was till now mostly elss to save tax I want to invest in bulk ( no SIP ) now My questio is I gather icici would charge 1.5 % upfront for any buys and 1% on it every year then onwards so after 10 yars i gain say 15 % overall then , 11.5 % ( 1.5 +10 ) will already been charged by icici leaving me with 3.5% returns? Is this correct ? they never rwspond transparently abd give evasive replies
Ans: It's important to clarify the fee structure and its impact on your overall returns when investing through platforms like ICICI Direct. While they may charge an upfront fee and an annual fee for maintaining your investments, the impact on your returns may not be as significant as you've outlined.

Firstly, the upfront fee is typically a one-time charge applied at the time of purchase and is not deducted annually from your investment returns. Similarly, the annual fee (if applicable) is usually a percentage of the assets under management and is deducted from your investment periodically, rather than as a lump sum at the end of the investment period.

While fees can affect your returns, it's essential to consider the potential returns generated by your investments over time. If your investments perform well, they can potentially outweigh the impact of fees on your overall returns.

However, it's crucial to have clarity on the fee structure and its impact on your investments. If you're unsure about the fees charged by ICICI Direct or if you feel they're not being transparent, it may be beneficial to seek advice from a Mutual Fund Distributor (MFD) who can provide unbiased guidance and help you navigate the investment process more effectively. Working with an MFD can bring synergy to your investment journey and ensure you make informed decisions aligned with your financial goals.

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Maxim

Maxim Emmanuel  |288 Answers  |Ask -

Soft Skills Trainer - Answered on Jul 12, 2024

Asked by Anonymous - Apr 23, 2024Hindi
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Hello sir my name is Santu Chakraborty.I am 34 year old now unmarried. My qualification is Bsc botany honours with 2nd class +diploma in mechanical engineering with distinction +btech in mechanical engineering from government engineering college west Bengal with 7.5 dgpa.I have 6 years of teaching experience in private diploma engineering college and now I working as a vocational teacher in automobile engineering department in gov high school.In my early phase of life I am going through lots of Misguide,seveare Anxiety issue. Nobody can help me on that phase.I recover mostly by my own after various dillema.I want to work in mechanical r and d company, Mechanical design basis company and also upgrade my teaching carrier. How can I start my journey at this age ?what is the risk factor also? Please tell me. I am very enthusiastic dedicated person. I have no guide in my home. My father is vegetable seller.
Ans: Hi Santu Chakraborty,

This is a really exhaustive query.

The journey thru' your acquisition of qualifications has been vast!

In the course of your life you are now suffering from SNIOP (SUSCEPTIBLE NEGATIVE INFLUENCE OTHER PEOPLE) this happens when you let others control your life.

I have this poem.. Especially for one's like you!

The Guy in the Glass

When you get what you want in your struggle for pelf,
And the world makes you King for a day,
Then go to the mirror and look at yourself,
And see what that guy has to say.
For it isn't your Father, or Mother, or Wife,
Who judgement upon you must pass.
The feller whose verdict counts most in your life
Is the guy staring back from the glass.
He's the feller to please, never mind all the rest,
For he's with you clear up to the end,
And you've passed your most dangerous, difficult test
If the guy in the glass is your friend.
You may be like Jack Horner and "chisel" a plum,
And think you're a wonderful guy,
But the man in the glass says you're only a bum
If you can't look him straight in the eye.
You can fool the whole world down the pathway of years,
And get pats on the back as you pass,
But your final reward will be heartaches and tears
If you've cheated the guy in the glass.

Dale Wimbrow (c) 1934

Get the enthusiasm going, don't get embroiled in what life has been before!

Take a stranglehold of your life and make it BIG!

The opportunities are.. Miracles waiting to happen, what are you waiting for.. You are the catalyst!?
Maxim Emmanuel.

Pick up yourself don't be a victim of self pity.

If you do need further professional advice happy to assist
https://m.me/maxim.emmanuel.2024

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Nayagam P

Nayagam P P  |1830 Answers  |Ask -

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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