Blog meant for 17 July 2017 Monday
Dear friends,
Flat day for Nifty on Friday to close at 9886. It still remains close to life time highs. The global cues are mixed and since tomorrow is the start of a new week, we have to see how Asian markets open.
Markets are looking quite strong but since it is at a high level, there is chance of consolidation and profit booking any time.
As per technical analysis, Nifty is in Hold zone. The indications for individual stocks for short term are –
THE HOLDS ARE – DIVISLAB, ITC, Maruti, Yes Bank, Reliance, Infosys, ACC, LUPIN, Titan, SBI, Axis Bank, L&T
Wait to Sell – HDFC Bank, HDFC
Sell – TCS
Don’t Buy – M&M, Asian Paint
Do not get tempted to sell the long term stocks that you have bought over a period. Long term stocks need to be sold only when the purpose/event for which you have been investing has arrived.
For example, if you have been investing for your child’s education, then you should sell when you need funds to pay the child’s college fees.
Long term stocks should not be sold for petty reasons such as funding purchase of a home appliance, mobile etc. These need to be purchased from your salary or savings in bank deposits etc.
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Question of the Day
Question – Is there any amount limit for Income Tax purposes for gifts received from a ‘blood’ relative?
Answer –
With respect to the question above, there is no limit on the value/amount of gifts received from blood relatives. The person giving the gift is called the donor and the person receiving the gift is the donee.
When a donor is gifting anything to a donee, the donor must have paid taxes on the amount of gift. If the donor has not paid tax on money he is gifting the donee, then the donee will have to pay tax on the amount received.
As such there is no limit on the amount received by a donee from a blood relative. A gift deed stating the gift given has to be given at the time of gifting will help in filing the details with the Income tax authorities.
Always consult your Auditor/Chartered Accountant before any such transactions so that you follow all the rules regarding the matter.
All the best!
Dr.Bharath Chandra & Rohan
About the author
Dr. Bharath Chandra
Hi there! This is Dr. Bharath Chandra & Rohan, International Trainers & Success Coaches. We have addressed more than a crore people on Stock Market, Personality Development, Wealth Management and Financial Planning over the past 35 years.
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