|
|
|
|
|
Sanctions to push oil price to $200: Iran Aviation Notes Investor Guidance
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Sanctions to push oil price to $200: Iran
Tehran, December 31 "One can’t give accurate predictions, but sanctions on Iran’s oil will drive up the price of oil to at least $200" per barrel, he said. Qasemi’s comments comes as the European Union was considering a possible EU embargo on Iranian oil imports. EU foreign ministers are to meet on the issue in a month’s time. US President Barack Obama is also expected to soon sign into law additional restrictions on Iran's central bank, which acts as the main conduit for Iranian oil sales. The United States and its allies have already imposed unilateral sanctions on Iran's economy. Iran today kept concern alive over its threat to close the Strait of Hormuz to oil tankers by readying war game missile tests near the entrance to the Gulf.
— AFP ATF prices slashed New Delhi: For the second time this month, state-owned oil companies on Saturday cut jet fuel (ATF) price by over one per cent in step with softening in the commodity's international rates. The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was cut by Rs 622 per kilolitre (kl), or 1.03 per cent, to Rs 63,077 per kl with effect from midnight tonight, an official at Indian Oil Corp said. — PTI
|
|
|
Aviation Notes For airlines, there are infinite possibilities for expansion and growth. There is an enormous space on the runways for movement of passengers from one destination to another and huge scope for cargo movement from one corner to another. In addition, the acclaimed manufacturers have assembled and designed aircraft, which, apart from being wide-bodied and mammoth, are safer than staying at home. All this has become possible because technology is continuously progressing. Experts continue to scream that the future of airlines is destined. But analysts feel that delivery of a safe and secure take-off and landing is in the hands of providence as world stands politically torn and turbulent. The more the security, the more are fertile minds of militants to unearth new routes for creating unrest. This situation will continue to operate as long as 'super powers' continue to dabble in securing more powers. Statistics show that masses continue to travel by planes, but financial health of the airlines remains feeble because enormous amounts are spent on safety measures and fuel. In India, the well-being of the airlines - scheduled and low-cost - are totally vulnerable because there is no discipline. The regulatory authorities need more discipline for themselves than inculcating it in its subsidiaries. The DGCA, for example, is more corruption-ridden than majority of airlines. Fares remain unstable; the airlines increase and decrease them at their own will without caring for the public. Flying on domestic sectors has become more irksome than before. There is uncertainty about airport development fee. One outfit says one thing, while another says another. Cases are pending in the court as private builders at Delhi, Mumbai and other centres continue to pocket money. The fact is that the passengers are made to pay on flights what they were entitled to get free. Imagine a husband and wife may not sit together on the flight. "If you want to travel together, you will have to pay an additional amount", said the airline official. Innovations have made aviation efficient but safety of the passengers and machinery remain a matter of concern. The aviation sector has indeed made the world smaller but certainly not better, as there is no discipline on the ground or in mid-air. This is tragic.
|
|
|
Investor Guidance Q: I had a PPF account and after completion of 15 years, I got all money back which was lying in this account. I got it extended for another period of 5 years and again after completion of 5 years I got the money. I am still in service and have a taxable income. I am not very clear if I can again open a PPF account in my name and get income tax rebate. If so, then up to what period can I open this account. I am above 61 years. Can I open this account for a period of say five years slab or will I have to open for a period of 15 years. My other query is can I open a PPF account in the name of my minor grandchildren and get rebate for myself? One of my friends has told me that by investing money in the PPF account of grandchildren I can get rebate. Please advise. — Rajib A: Your query is not very clear. On the one hand, you have mentioned that after the completion of 15 years you got all your money back which was lying in your PPF account. This means you had closed the account. However, in the next sentence you state that you got the account extended for another period of 5 years. In any case, note that post initial maturity, a PPF account may be extended any number of times. Each extension runs for five years. However, if you have closed the account, you will have to open a new PPF account in you own name. The term of a fresh PPF account is 15 years. Secondly, you cannot claim any deduction u/s 80C if you contribute to the PPF account of your grandchild. Also, for such contributions, neither the grandfather nor the parent can claim the benefit of Section 80C. Conversion of scheme
Q: I plan to switch my investment in Mutual Fund from dividend payout plan to growth plan under the same scheme. Will this switching be treated as: (a) Redemption of the original investment in dividend plan and fresh investment in growth plan involving LTCG/STCG, or (b) It will not attract LTCG/STCG. — Yogesh A: Conversion of a scheme paying regular dividend to growth scheme is considered as transfer and consequently, this transaction attracts the provisions of capital gains. Only the conversion of Regular Dividend plan to Dividend Reinvestment plan is not considered as transfer. Exemption on capital gains
Q: In the case of an individual assessee whose total personal income is below the threshold limit of exemption and such income includes short-term capital gains arising on sale of listed equity shares on which STT has been paid, then will this short-term capital gain attract tax? The assessee does not claim any rebate for deduction under Chapter VI- A of the
IT Act. — Nilesh Rai A: Short-term capital gains can be adjusted against the balance available amount of threshold and only the balance, if any, would be subjected to tax. For example, say a taxpayer has no other income but short-term capital gains of say Rs 2,50,000. Out of this Rs 2.50 lakh, he can adjust Rs 1.80 lakh against the basic exemption
and pay tax @15% on the balance. Rebate on Securities Transaction Tax
Q: Is STT, brokerage and other charges deductible from the sale price while computing profit from sale of shares ? — F Kathawala A: For an investor, brokerage is certainly deductible but STT is not. For a trader in shares, STT is deductible provided the income from such transactions is included under the head ‘profits and gains of business or profession’. |
|
| HOME PAGE | |
Punjab | Haryana | Jammu & Kashmir |
Himachal Pradesh | Regional Briefs |
Nation | Opinions | | Business | Sports | World | Letters | Chandigarh | Ludhiana | Delhi | | Calendar | Weather | Archive | Subscribe | E-mail | |
