Women’s Day

We at #VRIDHI respect Women and salute those Women who strive hard to stand on their own legs!

On this day when the world is celebrating Women’s Day, we are pleased to offer Financial Planning, Investment Advisory and Wealth Counselling at ‘No Cost’ for all women.

You can directly interact with our Chief Financial Planner Mr. Vivek Karwa and take advantage of Expert Knowledge. Your location of stay does not matter for getting the right advice. Click Here

New CKYC Rules

Dear Investors,

SEBI has modified KYC rules. New CKYC rules for Mutual Fund investors:

1) Investors whose records are already existing in KRA as “KYC OK” may invest freely in any fund.

2) A new MF investor – first time investor whose records are not available in KYC-KRA will have to fill the new CKYC form.
3) The above rules are applicable for individual investors only including NRIs.
4) In case modifications to be made for existing KRA compliant investors, CKYC form to be filled in.

The new form will be available on CKYC link on our website shortly.

Budget 2017 Highlights

Highlights of Budget 2017, source: HCC

On demonetisation

1. Demonetisation is expected to have a transient impact on economy.

2. We will have a great impact on the economy and lives of our people . The effects of Dem. are not expected to spill over next year.

3. Demonetisation a bold and decisive measure and will lead to higher GDP growth.

4. The effects of demonetisation will not spillover to the next fiscal.


1. Sowing farmers should feel secure against natural calamities.

2. Rs. 10 lakh crore as credit to farmers with 60 days interest waiver says FM

3. NABARD fund to be increased to Rs. 40,000 crore

4. Govt will set up mini lab in Krishi Vigyan Kendras for soiling:

5. A dedicated micro irrigation fund will be set up for NABARD with Rs 5,000 cr initial corpus

6. Irrigation corpus increased from Rs 20,000 crores to Rs 40,000

7. Dairy processing infrastructure fund with be created initially with a corpus of Rs. 2000 cr

8. Issuance of Soil cards has gained momentum

9. A model law on contract farming will be prepared and shared with States

Rural sector

1. Government targets to bring 1 crore households out of poverty by 2019

2. During 2017-18, 5 lakh farm ponds to be taken up under MGNREGA

3. Over Rs 3 lakh cr spend for rural India. MGNREGA to double farmers income

4. Participation of women in mgnrega up to 55%

5. During 2017-18, 5 lakh farm ponds to be taken up under MGNREGA

6. Using space tech in a big way to plan MGNREGA works

7. We propose to complete 1 crore houses for those without homes

8. Allocating Rs. 19,000 cr for Pradhan Mantri Gram Sadak Yojana in 2017-18

9. We are well on our way of achieving 100% rural electrification by March 2018.

10. Swachh Bharat mission has made tremendous progress, sanitation coverage has gone up from 42% in Oct 13 to 60% now.

11. Sanitation coverage in rural areas gone up from 42% in Oct 2014 to 60% now.

For youth

1. Introduction of a system of measuring annual learning outcomes, innovation fund for secondary education.

2. There will be a focus on 3,479 educationally-backward blocks

3. Colleges will be identified based on accreditation

4. Skill India mission was launched to maximise potential.  100 India International centres across country.

5. Courses on foreign languages to be introduced.

6. Skill India Mission was launched in 2015 to maximise the potential of our youth. 100 India International Skill centres will be established across the country.

7. Steps to create 5000 PG seats per annum

For the poor; health care

1. Mahila Shakthi Kendras – Rs. 500 cr allocated.

2. Nationwide scheme for pregnant women – Rs. 6000 each will be transferred.

3. For women and Kids – Rs. 1,84,632  cr. allocation investment

4. Affordable housing to be given infrastructure status.

5. Surplus liquidity – banks have already started reducing lending rates for housing

6. Elimination of tuberculosis by 2025 targeted.

7. 1.5 lakh health sub centres to be transformed into health wellness centre.

8. Two new AIIMS in Jharkhand and Gujarat.

9. Structural transformation of regulator framework for medical education in India

10. Allocation for Scheduled Caste  – Rs. 52,393  crore

11. Aadhaar-based smartcards for senior citizens to monitor health.

Infrastructure; railways

1. A total allocation of Rs. 39,61,354 crore

2. Total allocation for Railways — Rs. 1,31,000 crore

3. No Service charge while booked tickets with IRCTC

4. Raksha coach with a corpus of Rs. 1 lakh cr fore five years (for passenger safety)

5. Unmanned level crossings eliminated by 2020

6. 3,500 km of railway lines to be commissioned this year up from 2,800 km last year.

7. SMS based clean my coach service started

8. Coach mitra facility – to register all coach related complaints

9. 2019 – bio toilets for all trains

10. 500 stations to be made differently-abled friendly

11. Railways to partner with logistics players for front end and back end solutions for select commodities.

12. Railways will offer competitive ticket booking facility

13. 2,000 km for coastal connectivity of roads –

14. Rs. 64,000 crore allocation for highways.

15. Allocation of high speed Internet 1,50,000 gram panchayats

Energy sector

1. A strategic policy for crude reserves will be set up

2. Rs. 1.26,000 cr for energy production-based investments received

3. Trade infra export scheme will be launched 2017-18

Financial sector

1. FDI policy reforms – more than 90% of FDI inflows are now automated.

2. Shares of Railway PSE like IRCTC would be listed on stock exchanges.

3. Bill on resolution of financial firms to be introduced in this session of parliament.

4. Decided to abolish FIPB in 2017-18.

5. Foreign Investment Promotion Board to be abolished.

6. Revised mechanism to ensure time bound listing of CPSEs

7. Computer emergency response team for financial sector to be formed.

8. Pradhan Mantri Mudra Yojana lending target at Rs 2.44 lakh crore for 2017-18

9. Digital India – Bhim app will unleash mobile phone revolution – two new schemes to promote the app.

10. Govt to introduce two new schemes to promote BHIM App – referral bonus for users and cash back for traders: FM.

11. Negotiable Instruments Act might be amended.

12. DBT to LPG consumers , Chandigarh is kerosene free, 84 govt schemes are on the DBT platform.

13. Head post office as the central office for rendering passport services

14. Easy online booking system for Army, defence personnel

15. For big-time offences – including economic offenders fleeing India, the govt. will introduce a legislative change or new law to confiscate the assets of these people within the country

Fiscal situation

1. Total expenditure – Rs. 21, 47,000 crore

2. Abolition on plan, non-plan expenditure, focus on capital expenditure ( Capital expenditure will be 25.4 per cent)

3. Rs. 3,000 crore under Dept of Economic Affairs for implementing Budget announcements.

4. Defence expenditure, excluding pension, at Rs 2,74,114  crore

5. Expenditure in science and technology —  Rs. 37,435 crore

6. Total resources transferred to States and UTs is Rs 4.11 lakh crore

7. Recommended 3% fiscal deficit for three years with deviation of 0.5% of GDP.

8. Revenue deficit – 1.9 %

9. Pegged fiscal deficit of 2017-18 at 3.2% of GDP and remain committed to achieving 3% in the next year.

On funding of political parties

1. Maximum amount of cash donation for political parties will be Rs 2,000 from any one source from Rs 20,000

2. Political parties will be entitled to receive donations by cheque or digital mode from donors.

3. Amendment is being proposed to RBI Act to enable issuance of electoral bonds that government will scheme. Donor can purchase these bonds from banks or post office via cheque or digital transactions. They can be redeemed only by registered political parties.

Tax proposals

1. India’s tax to GDP ratio is not favourable.

2. Out of 13.14 lakh registered companies, only 5.97 lakh companies have filed returns for 2016-17.

3. Proportion of direct tax to indirect tax is not optimal.

4. 1.95 crore individuals showed income between Rs 2.5 lakh to Rs 5 lakh.

5. Out of 76 lakh individual assessees declaring income more than Rs 5 lakh, 56 lakh are salaried.

6. Only 1.72 lakh people showed income of more than Rs 50 lakh a year.

7. Between Nov 8 to Dec 30: Deposits between Rs 2 lakh and Rs 80 lakh was made in 1.09 crore accounts.

8. Net tax revenue of 2013-14 was Rs 11.38 lakh crore.

9. Out of 76 lakh individual assessees declaring income more than Rs 5 lakh, 56 lakh are salaried.

10. 1.95 crore individuals showed income between Rs 2.5 lakh to Rs 5 lakh.

11. Rate of growth of advance tax in Personal I-T is 34.8% in last three quarters of this financial year.

12. Holding period for long term capital gain lowered to 2 years

13. Propose to have carry-forward of MAT for 15 years.

14. Capital gains tax to be exempted for persons holding land from which land was pooled for creation of state capital of Telangana.

15. Corporate tax: In order to make MSME companies more viable, propose to reduce tax for small companies of turnover of up to Rs 50 crore to 25%. About 67 lakh companies fall in this category. 96% of companies to get this benefit.

16. Propose to reduce basic customs duty for LNG to 2.5% from 5%

17. SIT on black money suggested no cash transactions of more than Rs 3 lakh. Govt has accepted this proposal.

18. Income Tax Act to be amended.  No transaction above Rs 3 lakh to be permitted in cash.

19. Limit of cash donation by charitable trust reduced to Rs 2,000 from Rs 10,000.

20. Net revenue loss in direct tax could be Rs. 20,000 crore.

Personal Income Tax

1. Existing rate of tax for individuals between Rs.  2.5- Rs 5 lakh reduced to 5% from 10%

2. All other categories of tax payers in subsequent brackets will get benefit of Rs 12,500.

3. Simple one page return for people with annual income of Rs. 5 lakh other than business income.

Save Tax

Save Tax – Take Action Now!

The Income Tax provisions gives opportunity to every individual to Save Tax by investing in certain specified products.

We are already in January’2017 and the last day to do this will be 31-3-2017

Don’t wait for the last moment! Your employer may deduct the tax from your salary this month itself.

Save Tax, call VRIDHI today!

Apart from initial KYC, our entire process is Online.

Which ever part of India you are living in, we at VRIDHI can serve you!


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In Long Term We Are NOT Dead, Bright Future Awaits India

What a year it has been. In the last year article (Click Here to read it) we had said that Sensex may touch 29140 – 29500 and if it breaks successfully then we may test 30800 – 31320. We during the year did test the first range and then the turn of events took us down sharply.

The Sensex closing on 31-12-2015 was 26117 and the close on 30-12-2016 was 26626, meaning just 1.95% over the year. This is less than even a Savings Bank Account! On 26-12-2016 the Sensex close was 25807, meaning negative 1.19% for the whole year till 26-12-16 and then in next four trading sessions, the Sensex rallied and closed higher, talking the whole year return into positive.

If someone forces me to mention and discuss the impact of Just Three Most Important things for 2017, they would be:

1. Interest Rates – Both RBI and Fed rates

2. Currency Replacement (Demonetisation)

3. GST

I would not like to discuss other usual things and make this article longer to read. Being New Year will try to keep it as crisp as possible.

1. Interest Rates

Remember when FED was decreasing rates, what were people saying? American economy is very weak, it will require many stimulus packages to revive. Rates are coming down and hence market will also come down due to poor economy. And you know what? Market did come down!

Now what discussion are these same people encouraging? Because FED has increased rates and may increase them further, the market has to come down!

Don’t get misled by people who don’t think beyond evening, let alone tomorrow or long term!

FED increasing rates is a sign of US recovering and they are much more confident today. I would be happy if rates are increased in Europe, high hopes but nothing to lose! India should be happy that US is recovering. FED may increase rates by just another 25 points in 2017, that won’t drive away FII’s from India. The small negative will be set off by better performance of the companies.

We are still dependent of FII’s, lets resolve in this year to bring in atleast one new investor!

2. Currency Replacement

Hell lot has been already spoken on this. With more than 85% circulation of high denomination notes in the system, it was need of the hour. Had government not done this now, Indian economy would have collapsed by itself like America did in 2008.

Irony is, those people who were head to toe immersed in various corruption charges are today preaching! As an Indian it is our right and duty to support what is right and what is wrong should be opposed.

As said earlier, hell lot has already been spoken hence let’s not go into the details and let’s come the point straight away. Will this whole exercise reap benefits to the Indian Economy? The answer is a Big Yes!

I totally agree that the process could have been better managed and there are certain problem which the new tax payers, likely to join the system, will face. I will be writing about them to the PM and FM. The public is heard and I ‘am sure actions to ease these problems will also be taken up.

Hence be ready to see increase in the digital economy and by March’2017 we all would have forgotten the currency ban! PM has announced certain sops yesterday, take this as precursor to the Union Budget. This will be the most important budget of the govt which try to ignite confidence in the economy.

3. GST

The day GST was passed, I had posted on facebook that it will not be implemented from 1-4-2017 and looks like the prediction would come true.

The impact of demonetisation will fully settle by March and once GST comes into force from August (hopefully) will cause another ‘shake’ in the markets, but for good.

Hence what we expect is, with Demonetisation+GST+Digital Economy, the numbers will start looking very interesting. All these put together we can term them as mother of all reforms which India has ever seen.

The end result would be that: Economy will pick pace, Companies will start performing and the Earnings Growth will start showing up. By the time you realise that earnings have picked up the market would have already rallied!

Hence use 2017 as the year of Investment Opportunities. We expect Sensex to test our second target of 30800 – 31320 this year if things go as expected. If the upcoming state elections results add up to the ruling party’s Rajya Sabha tally, the market will pick further pace. They need not form govt, adding up RS numbers itself will be big positive.

2017 will be volatile and will give both Investment and Trading opportunities. It’s up to you how you use them. Stay connected with us on Social Media: Click Here

Happy Investing

Vivek Karwa

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