Pro Kabaddi League Auction: 422 Players To Go Under Hammer

A total of 422 players will be going under the hammer when the two-day auctions for the sixth edition of the Pro Kabaddi League (PKL) 2018 gets underway on Wednesday. Of the total players, 58 are from 14 different nations while 87 players come from the league’s Future Kabaddi Heroes Programme (FKH), a nationwide talent scouting programme held in 18 cities. Also, for the first time, the concept of “Final Bid Match” (FBM) will be introduced. As per the FBD process, the franchises will be entitled to match the final bid made by another franchise, for one or at most two players from its previous season squad.

For the upcoming edition, a total of 21 players were retained by nine teams while three teams — U Mumba, Jaipur Pink Panthers and UP Yoddha — decided to start from scratch without retaining any player.

While each team could retain only one member of the previous season, this time they have been allowed to keep up to four members from their previous squad. These players form the ‘Elite Retained Players’ category.

Each franchise will be allowed to keep a team of minimum 18 players and a maximum of 25 players, including three from the FKH programme and two to four overseas players. Each franchise will get Rs 4 crore to form their teams.

The players drafted in the auctions have been split into five categories (A, B, C, D, and New Young Players).

While players in the A, B, C, and D categories have been set a base price of Rs 20 lakh, 12 lakh, 8 lakh, and 5 lakh respectively, the New Young Players have been fixed a price of Rs 6.6 lakh.

 

 

Source by:-ndtv

Tax implications of SIP: Know all about how tax is calculated on mutual fund SIPs

SIP (Systematic Investment Plan) is the best way to invest your money in mutual funds (MFs) for creating wealth over a long period and achieving your long-term goals. However, to make the most of SIPs, it is also necessary for you to be aware of its various tax implications.

When you redeem mutual fund investments, you are liable to pay capital gains tax in that year. Capital gains on SIPs are applicable on a First-In-First-Out (FIFO) basis. What this means is, the gains are calculated against each instalment, starting from the first one.

Suppose you have a monthly SIP of Rs 10,000 in an equity fund, running from 1st March 2017. You decide to redeem Rs 50,000 on 10th June 2018. Investments from the earlier months will be redeemed until the amount specified is reached.

For equity funds, redemption made beyond 12 months of purchase attracts Long Term Capital Gains (LTCG) tax while redemption up to 12 months attract Short Term Capital Gains (STCG) tax. So, in this case, LTCG tax will be applicable  on gains from the first three months and STCG tax on gains of the fourth month of your SIP, as illustrated below:

Date NAV Units allotted(10,000/NAV) Value of units sold @ NAV 27.5 on 10thJune 2018 Gains/Profits Tax
1st Apr 2017 21.25 470.59 12,941 2,941 LTCG
1st May 2017 21.68 461.25 12,685 2,685 LTCG
1st June 2017 22.41 446.23 12,271 2,271 LTCG
1st July 2017 22.72 440.14 12,104 2,104 STCG
1st Aug 2017 23.04 434.03 11,936
1st Sep 2017 23.45 426.44 11,727
1st Oct 2017 23.89 418.59 11,511

However, you will have to pay the tax only if your aggregate gains from equity exceeds Rs 1 lakh in a year. This includes gains from both equity mutual funds and direct investment in shares.

The same principle of tax calculation applies to SIPs in the non-equity funds. The only difference is in the investment holding period; for non-equity funds LTCG is applicable beyond 36 months and STCG up to 36 months.

Some more pertinent things to note:

# Your equity fund SIP redemptions are taxable only if your gains from equities exceed Rs 1 lakh in a year.

# Tax rates are different for equity and non-equity funds. They are higher for non-equity funds by 10-15%.

# If you have invested in the dividend option, Dividend Distribution Tax (DDT) will be applicable.

# TDS is applicable for NRI (Non-resident Indians) investors.

Tax rate ready reckoner:

SIP in LTCG STCG DDT
Equity funds 10% 15% 10%
Non–equity funds 20% with indexation 30% 25%

 

Source by:-financialexpress

Around 1 million bank employees to go on 2-day strike from May 30

Around 1 million bank employees will go on a two-day strike this Wednesday as the conciliation efforts by the Union government failed to convince bank unions to call off protests against the proposed low wage hike. Additional Chief Labour Commissioner (CLC) Rajan Verma met the bank unions, under the banner of the United Forum of Bank Unions (UFBU), finance ministry officials and bank management, represented by the Indian Banks’ Association (IBA) in an effort to avert the strike.

“The CLC tried his best to sort out the strike-related issues but there is no positive development. Though the bankers, through the IBA, said they are willing to reconsider the proposed wage hike, there was no concrete proposal.

Hence, the strike stands,” All India Bank Employees’ Association General Secretary C H Venkatachalam said.

D T Franco, general secretary, All India Bank Officers’ Confederation said about 1 million bank officers are expected to participate in the strike on May 30 and May 31. During the conciliation proceedings, the bank unions told the CLC that a 2 per cent wage hike was proposed in a meeting held between bankers (IBA) and unions (UFBU) on May 5 “which was not at all acceptable, considering the rise in cost of living.”

“The officials from the IBA stated that they have had several rounds of discussions in respect of wage negotiations…in view of the huge non-performing assets or bad loans in the banks, only 2 per cent of wage increase was offered.

But they also stated that they are still not closed and ready to negotiate further,” according to the minutes of the meeting.

Bank unions, however, argued that the wage hike should not be linked to bad loans of banks since it is “not disputed that employees are contributing significantly (towards functioning of banks) through their hard work.”

In the last wage revision in 2012, which was for the period between November 1, 2012, and October 31, 2017, bank employees got a 15 per cent wage hike and AIBOC Joint General Secretary Ravinder Gupta said the unions were expecting a better salary increase this time.

“The volume of business and the volume of work of the employees and officers have gone up enormously in the recent years… In addition, bank employees and officers are compelled to undertake so much of non-banking business and all the burden of doing various government schemes have fallen on the shoulders of the bank staff,” the strike notice issued by UFBU, an umbrella body which represents nine unions, said.

Another point of contention for the unions was the IBA’s decision to restrict wage negotiations to scale-III officers or up till the senior manager-level. However, bank unions are demanding a wage hike for officers up to scale-VII which will include general managers, deputy general managers, assistant general manager and divisional managers. The CLC told the bank management to consider wage negotiation for these officers too, as has been a practice in the past.

Banks are divided over the level of officers that will be covered in the wage negotiation. Without naming them, the IBA representative told the CLC that the six banks were opposed to the move of covering general-manager level officials.

The CLC advised the bank management to offer a fresh wage hike and said “as in the past, wage settlements, the officers from scale-IV to scale-VII were also covered so this time also they may be a part of the wage negotiations because excluding them may cause a fresh controversy which may not be conducive for amicable industrial relations.”

Strike Alert

Trade unions oppose…

  • Bank management’s proposal for a 2 per cent wage hike
  • Decision to negotiate wages for up to senior manager-level officers, thereby excluding general managers
  • Centre’s ‘casual approach’ to wage revision of bank employees

Unions demand…

  • Early wage revision settlement
  • Wage revision should include all bank officers
  • Adequate increase in salary and improvement in other service conditions

Labour Commissioner tells banks to…

  • Cover all officers in wage negotiation
  • Revise wage hike proposal

Source by:-business-standard

Send WhatsApp messages without saving the contact

Image result for Send WhatsApp messages without saving the contact

WhatsApp sends a message to your contacts and saving a number in contact list isn’t that compulsory now as a new feature serves it.
WhatsApp comes with a
‘Click to Chat’ feature that allows users to begin a chat with someone without having their phone number saved in your phone’s address book. However, knowing the number of the person you want to chat with is a must.
WhatsApp lets you create a link that will allow the user to start a chat with them.
To create the link, use https://api.whatsapp.com/send?phone= and insert the person’s full phone number in international format, after eliminating any zeroes, brackets or dashes. For example:
Use: https://api.whatsapp.com/send?phone=15551234567
Don’t use: https://api.whatsapp.com/send?phone=+001-(555)1234567
By clicking the link, a chat with the person automatically opens. This ‘Click to Chat’ works on both phone and WhatsApp Web. Readers must note that this functionality works only in individual chat cases and does not work in case you want to engage in a Group chat.
Recently, WhatsApp added new features and updates…………..Read More>>
Source by techiyogiz

No free Jet Airways tickets, says airline as it alerts flyers about fake contest

Jet Airways on Wednesday clarified it has not come up with any special offers on its 25th anniversary. It was in response to a fake message being widely shared on social media and WhatsApp claiming that the airline is offering two free tickets to every family to celebrate its 25 years.

In a statement on Twitter, the airline alerted its customers and also advised them to trust information that is shared on its verified accounts. “#FakeAlert There’s a fake link being circulated regarding ticket giveaways for our 25th Anniversary. This is not an official contest/giveaway and we advise caution. Genuine contests & giveaways are hosted only on our verified social media accounts, indicated with a blue tick,” the tweet read.

The free air ticket message that had gone viral on social media asked users to share the message with 20 other friends on WhatsApp. It also claimed that once the message is forwarded, the users will receive tickets within 48 hours by mail. Similar fake messages claiming free air tickets from Air Asia and Emirates went viral in the past.

Jet Airways, the second largest airline in the country after Indigo, operates over 300 flights daily to 65 destinations. It began full-fledged operations in 1995 with international flights added in 2004. The airline went public in 2005 and in 2007, it acquired Air Sahara. The airline flies to various destinations, including New Delhi, Hyderabad, Ahmedabad, Bagdogra, Coimbatore, Bangalore and Pune.

 

 

Source by:-indianexpress

How To Change Passengers Name In Your Booked IRCTC E-Ticket

Want to change name of a passenger in your e-ticket? IRCTC (Indian Railway Catering and Tourism Operation) now offers the facility of changing name of e-ticket passenger. This can be done by approaching the nearest railway reservation office, said IRCTC on its official website- irctc.co.in. For availing this facility, customer can now approach the nearest Railway Reservation Office with ‘electronic reservation slip’ print out and photo identity proof in original of one of the passenger traveling in the ticket at least 24 hours before the scheduled departure of train as per extant railway rules, IRCTC added.
1.    The reservation offices can change passenger’s name against a request from the passenger as per extant railway rules applicable to other face to face counter booked tickets.

2.    Facility in the name change of passenger holding confirmed e-reservation has been permitted as per extant Railway rules noted as under:-

a. Where the passenger makes a request in writing 24 hours before the scheduled departure of train to the nearest railway reservation office. It can be transferred to an-other member of his family, meaning, father, mother, brother, sister, son, daughter, husband and wife. He/she should bring the ‘electronic reservation slip’ print out along with photo identity card proof in original and a proof for blood relation desired to be changed.

b. Where the passenger is a Government Servant proceeding on duty and appropriate authority, makes a request in writing 24 hours before the scheduled departure of train.

3.    Such request can be granted once only, said IRCTC.

Source by:-ndtv

NPS vs PPF: Which one helps you save more money for future

NPS vs PPF: Whenever it comes to saving for retirement, Public Provident Fund (PPF) and Provident Fund (PF) are the first two things which come to the mind of a salaried person. However, the National Pension Scheme (NPS) has been gaining a lot of popularity among salaried people after the Narendra Modi government provided an additional tax deduction of Rs 50,000 in Budget 2015-16. NPS has two types of accounts: Tier 1 and Tier II. On one hand, Tier 1 account is non-withdrawable until the subscriber turns 60, while on the other hand, under Tier II account a subscriber can voluntarily withdraw funds from the account.

What is the difference between PPF and NPS:

– Who can invest in the schemes?

A PPF account can be opened by anyone. A minor account can also be opened under PPF. However, an NPS account can only be opened by people of the of 18 or above and less than 60. NRI’s can also open an NPS account. However, they cannot open a PPF account.

– Maturity:

The maturity period for a PPF account is 15 years and a subscriber can extend the term in the multiples of five once the account matures. However, the time period for NPS is not fixed. A depositor can contribute to the NPS account until s/he turns 65. The tenure can be extended up to 70 years of age with an option to invest in the account.

– Tax benefit:

NPS subscribers can get a maximum of Rs 2 lakh deduction in total, according to the Income-tax (I-T) Act. NPS offers tax saving at the first two stages of contribution and interest accrual, but withdrawals are taxable. The lumpsum withdrawal in NPS will be exempt up to 40 percent of such withdrawals. PPF enjoys an EEE or ‘exempt, exempt, exempt’ status, where the amount you contribute (up to Rs. 1.5 lakh), the return you get and the maturity amount, all are tax exempt.

– Investment options:

In a PPF account, a subscriber has to contribute a minimum of Rs 500 annually with the maximum limit set at Rs 1,50,000. A maximum 12 contributions per year are allowed in PPF accounts. As for NPS, the minimum contribution is Rs 6,000. There is no maximum limit for contribution, but it cannot exceed 10 per cent of the depositor’s salary.

Source by:-financialexpress

With a DigiYatra ID, Paperless air travel soon! Know How it works?

Image result for With a DigiYatra ID, Paperless air travel soon! Know How it works?

Airports across India have joined their forces to create a unique paperless boarding facility for all air passengers. Called as DigiYatra ID, this can be a revolution in the aviation sector.

And the most
interesting part: Although this will be based on biometric data, Aadhaar won’t be mandatory here.

DigiYatra ID = Paperless Boarding :-

Airports Authority of India (AAI) along with the four metro airports have collaborated to create a unique DigiYatra for passengers, using which anyone can do paperless boarding, and enter the aircraft in no time.

A single biometric ‘pass’ would be created, which can be used to unlock eGates at various airports, and regular tasks such as check-ins, security clearances etc can be seamlessly done.

No ID card or verification would be required, once biometric-based authentication is done.

Guruprasad Mohapatra told “We have sent this proposal to the ministry. Once approved by the ministry, the DGCA will need to mandate it. We have selected three airports, including Varanasi and Vijaywada, for rolling out DY (DigiYatra)”

Note here, that this paperless facility to board and enter airports is purely voluntary, and if a passenger doesn’t want this, they can continue to access the traditional way.

DigiYatra Based Travel: How Will It Work?

DigiYatra will carry on via AirSewa portal, here is the process…………..Read More>>

Source by techiyogiz

What you don’t know about Aadhaar

NEW DELHI: The 12-digit unique identity, Aadhaar, provides identification to more than a billion Indians. Its ability to uniquely identify individuals and its digital interface have made it a compelling identification platform.

Even though the government is taking various measures make it a necessity to avail of financial services, subsidies and so on, not many people are aware of the Aadhaar related nitty-gritties. A recent study, State of Aadhaar, conducted by IDinsight, a global development analytics firm, found that only 7 percent were aware of the full Aadhaar authentication process.

The survey covered 2,947 rural households in 21 districts across the states of Andhra Pradesh, Rajasthan, and West Bengal.

While 85.1 percent of the people surveyed were aware of fingerprint authentication, less than half of them, i.e., 41.6 percent, know that Aadhaar enrolment is free of cost.

With regards to safety of data, although many are afraid about the possibility of misuse of information linked and stored, not many know about the precautionary measures that can be taken.

To prevent misuse of Aadhaar data, the Unique Identification Authority of India (Uidai) provides a mechanism to lock the biometric information. Biometric information refers to the iris and finger prints scans which are used for authentication. The survey notes that only a lowly 3 percent Aadhaar cardholders are aware of biometric locking and unlocking.
Here’s a snapshot:

High number of self-reported errors
The study found that the Aadhaar has more self-reported errors than the voter ID database. According to the study, 8.8 percent of Aadhaar holders reported errors in their name, age, address, or other information on their Aadhaar letters. Compared to this, the error-rate of the voter ID database is 5.7 percent. What this means, is that the error-rate on Aadhaar was 1.5 times higher.

e-KYC, update Aadhaar card and all that you can do with government's mAadhaar app

This is of significance because of the since the government made it mandatory to link PAN card with Aadhaar for income tax returns to be processed, many were unable to do it due to mismatch in data in both the IDs. Further, since many people couldn’t comply to this directive, the government had to extend the Aadhaar-PAN linking deadline a few times. As per the UIDAI website, the turnaround time for Aadhaar updation is 90 days.

Exclusion from Public Distribution System due to Aadhaar related issues
Not just the errors, the report also highlights that exclusion from receiving benefits due to Aadhaar-related factors have been significant. While the government has repeatedly insisted that no beneficiary should be denied benefits due to lack of Aadhaar, the IDinsight report suggests that on the ground this is not what is happening.

According to the study, 0.8 percent, 2.2 percent, and 0.8 percent of Public Distribution System (PDS) beneficiaries in rural Andhra Pradesh, Rajasthan, and West Bengal, respectively, are excluded from their entitlements due to Aadhaar-related factors. This extrapolates to about 2 million individuals a month. However, non-Aadhaar reasons, such as ration unavailability, contribute much more to exclusion from PDS. Aadhaar-related issues refer to non-seeding of Aadhaar and mismatch in biometric data.

Overall, monthly exclusion from PDS in Rajasthan is 9.9 percent, whereas it is 1.1 percent in Andhar Pradesh.

Ajay Bhushan Pandey, CEO of Uidai, said, “PDS exclusion due to failure of local administration, should be taken very seriously by the concerned agencies. They should ensure that not a single beneficiary is denied. The Aadhaar Act and Government instructions provide for alternate means of identification for genuine beneficiaries who encounter problems in authentication.”

Section 7 of the Aadhaar Act states that Central or State Governments can make possession of an Aadhaar number or Aadhaar authentication mandatory for receipt of subsidies, benefits or services funded out of the Consolidated Fund of India. At the same time, the section also states that an individual who has not been assigned an Aadhaar number, shall be enrolled for Aadhaar and offered an alternate and viable means of identification for receipt of subsidy, benefit or service till the 12-digit biometric number is assigned to him.

Aadhaar based e-KYC has limited reach

The study found that Aadhaar’s digital usage for financial inclusion (e-KYC) has had limited reach, while its analogue version (the letter or card) has been an enabler of inclusion, particularly in opening bank accounts. The physical Aadhaar card is much more widely used to open bank accounts than its digital version. As per the survey, 67 percent of bank account holders used their Aadhaar letter to open their most recent account, while only 17 percent used e-KYC. Ronald Abraham, partner at IDinsight, says “While the ease of Aadhaar based e-KYC needs to be promoted, the government also needs to safeguard the data of analogue users, which is as high as 67 percent.”

People are still okay with Aadhaar

Despite all these issues, the study found that 87 percent of people approved of the government’s mandatory use of Aadhaar, while 76.9 percent approved Aadhaar’s mandatory use by the private sector. 77 percent of respondents approved of the mandatory linking of Aadhaar to services, including mobile.
Although the respondents are fine with mandatory linking their Aadhaar with various services, they do value their right to privacy over everything else. Over 96 percent of respondents valued privacy and think it is important to know what the government will do with their Aadhaar data.
Source by:-gadgetsnow

WhatsApp group video call is LIVE! Check how to use it

One of the most popular messaging application in the world, WhatsApp has brought a new feature that will make your life a lot easy. The update is for both Android users and as well as iOS users. With this update, Whatsapp enables a user to have group video calls. Earlier this month, it was announced that the update will be rolled out in a couple of weeks.

With WhatsApp new group video calling feature, you can now add as many as four group members to join a video call on the messaging platform. If you use a smartphone which runs on Android then you should look for the latest update, which is 2.18.145 and ahead. If you are using updated version of WhatsApp then you will have to be “very lucky” to use the new feature. As listed out by popular tipster WaBetaInfo, the feature, even with the updated version of the app doesn’t work. Only a handful of users get to use the new feature. And the new feature cannot be activated with an invitation system.

If you use an Apple device, then look for WhatsApp version 2.18.52 for iOS. However, you need to be very lucky to use the new feature.

How to check if your WhatsApp has this new feature:
Step 1: Open WhatsApp
Step 2: Select a participant you wish to call.
Step 3: Do a normal call.
Step 4: Check if there is a new button “Add participant”
Step 5: If there is, then you can now have group calls if you don’t, then you cannot.

In January this year, WhatsApp confirmed had they are working on a version to enable group video calls. This was confirmed in February that this new feature will be available for the messaging app in ‘future.’ Then at their annual F8 developers’ conference, Facebook mentioned that a bunch of new features will be headed to WhatsApp including support for group video calling in the coming weeks.

This feature is live and can be seen by few users.

 

 

Source by:-financialexpress

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