Everything you need to know about Finance And Economy

HDFC Asset Management Company (HDFC AMC) Limited is coming out with Offer for sale (OFS) of 2.5 crore shares having the face value of Rs. 5 each. The offer will open from June 25, 2018, and will close on July 27, 2018. The price band for the OFS issue is Rs. 1,095 to Rs. 1,100 and the minimum lot size is 13 shares, which implies a minimum investment in the range of Rs. 14,235 to Rs. 14,300. The issue size is Rs. 2,800 crore of which the retail portion is 30 percent, with 7,762,145 equity shares on offer. As the offer is an OFS, the company will not receive any proceeds from the same, but the company's brand will gain visibility. Key growth drivers for the company -  1. Rising share in individual equity-oriented AUM which have better margins and consistent income. Company has been able to benefit from higher individual participation witnessed in Mutual fund industry. It has a greater proportion of individual AUM in comparison to the overall Indian mutual fund i

As 31st July is just a few days away. It is high time to file your Income Tax Return now. Here is a step by step guide on How to File Income Tax Return. Read on and file your ITR in an easy and quick manner. Let's do step-by-step: 1. If you are a first-time return filer, register yourself on the income tax department’s official E-filing portal:-    http://www.incometaxindiaefiling.gov.in/ Your permanent account number (PAN) will act as your user ID. 2. Keep key documents handy, including the Form 16, Form 26AS (tax credit statement), bank statements, copy of returns filed last year, capital gains statement from mutual funds and brokers. 3. Go to ‘Downloads’ tab to download the ITR preparation software (JAVA or Excel utility) for the relevant assessment year. Or, You can skip this steps by clicking on the following link: http://www.incometaxindiaefiling.gov.in/downloads/offlineUtilities?lang=eng 4. If tax is due, make the payment immediately and enter the deta

Rupee hits all-time low, now the question arises "Do India has the really adequate foreign reserve to deal with ongoing currency fluctuation?" India has adequate “firepower” of foreign exchange reserves to deal with the current volatility in the rupee. The volatility is being driven by global factors including the proposed US sanctions on Iran and the mismatch in demand and supply of oil, Subhash Chandra Garg, Economic Affairs Secretary in the Ministry of Financ e said. “We have adequate reserves, there is adequate firepower,” Garg said. The partially convertible rupee fell to a record low of 69.0950 per dollar on Thursday and was trading at 68.52/53 per dollar at 0430 GMT on Friday versus its close of 68.79/80. If needed, the government could raise funds through foreign currency non-repatriable (FCNR) deposits, sovereign bond or other routes through to increase forex reserves, he added. “If we assess at any stage that we need to buttress or refurbish our r