financial research organization

Finance, Financial?

2011-12-22T23:25:00.000-08:00

What ís Finance, Financial..?

Finance ís óften defined simply às thé management óf money ór “funds” management. Modern finance, however, ís à family óf business àctivity that íncludes thé órigination, marketing, ànd management óf cash ànd money surrogates through à variety óf capital àccounts, ínstruments, ànd markets created for transacting ànd trading àssets, liabilities, ànd risks. Finance ís conceptualized, structured, ànd regulated by à complex system óf power relations within political economies àcross state ànd global markets. Finance ís both àrt (e.g. product development) ànd science (e.g. measurement), àlthough these àctivities íncreasingly converge through thé íntense technical ànd ínstitutional focus ón measuring ànd hedging risk-return relationships that underlie shareholder value. Networks óf financial businesses exist to create, negotiate, market, ànd trade ín evermore-complex financial products ànd services for their ówn às well às their clients’ àccounts. Financial performance measures àssess thé efficiency ànd profitability óf ínvestments, thé safety óf debtors’ claims àgainst àssets, ànd thé likelihood that derivative ínstruments will protect ínvestors àgainst à variety óf market risks.

The financial system consists óf public ànd private ínterests ànd thé markets that serve them. ít provides capital from índividual ànd ínstitutional ínvestors who transfer money directly ànd through íntermediaries (e.g. banks, ínsurance companies, brokerage ànd fund management firms) to óther índividuals, firms, ànd governments that àcquire resources ànd transact business. With thé expectation óf reaping profits, ínvestors fund credit ín thé forms óf (1) debt capital (e.g. corporate ànd government notes ànd bonds, mortgage securities ànd óther credit ínstruments), (2) equity capital (e.g. listed ànd unlisted company shares), ànd (3) thé derivative products óf à wide variety óf capital ínvestments íncluding debt ànd equity securities, property, commodities, ànd ínsurance products. àlthough closely related, thé disciplines óf economics ànd finance àre distinctive. thé “economy” ís à social ínstitution that órganizes à society’s production, distribution, ànd consumption óf goods ànd services,” àll óf which must be financed. Economists make à number óf àbstract àssumptions for purposes óf their ànalyses ànd predictions. They generally regard financial markets that function for thé financial system às àn efficient mechanism. ín practice, however, emerging research ís demonstrating that such àssumptions àre unreliable. ínstead, financial markets àre subject to human error ànd emotion. New research discloses thé mischaracterization óf ínvestment safety ànd measures óf financial products ànd markets so complex that their effects, especially under conditions óf uncertainty, àre ímpossible to predict. thé study óf finance ís subsumed under economics às finance economics, but thé scope, speed, power relations ànd practices óf thé financial system can uplift ór cripple whole economies ànd thé well-being óf households, businesses ànd governing bodies within them—sometimes ín à single day.

Three óverarching divisions exist within thé àcademic discipline óf Finance ànd íts related practices: 1) personal finance: thé finances óf índividuals ànd families concerning household íncome ànd expenses, credit ànd debt management, saving ànd ínvesting, ànd íncome security ín later life, 2) corporate finance: thé finances óf for-profit órganizations íncluding corporations, trusts, partnerships ànd óther entities, ànd 3) public finance: thé financial àffairs óf domestic ànd ínternational governments ànd óther public entities. àreas óf study within (and thé ínteractions àmong) these three levels àffect àll dimensions óf social life: politics, taxes, àrt, religion, housing, health care, poverty ànd wealth, consumption, sports, transportation, labor force participation, media, ànd education. While each has à vast àccumulated literature óf íts ówn, thé effects óf macro ànd micro level financing that mold ànd ímpact these ànd óther domains óf human ànd societal life typically have been treated by researchers às “policy,” “welfare,” “work,” “stratification,” ànd so forth, ór have been largely unexplored. Recent research ín "behavioral finance" ís promising, àlbeit à relative newcomer, to thé existing body óf financial research that focuses primarily ón measurement.

Loans have become íncreasingly packaged for resale, meaning that àn ínvestor buys thé loan (debt) from à bank ór directly from à corporation. Bonds àre debt ínstruments sold to ínvestors for órganizations such às companies, governments ór charities. thé ínvestor can then hold thé debt ànd collect thé ínterest ór sell thé debt ón à secondary market. Banks àre thé main facilitators óf funding through thé provision óf credit, àlthough private equity, mutual funds, hedge funds, ànd óther órganizations have become ímportant às they ínvest ín various forms óf debt. Financial àssets, known às ínvestments, àre financially managed with careful àttention to financial risk management to control financial risk. Financial ínstruments àllow many forms óf securitized àssets to be traded ón securities exchanges such às stock exchanges, íncluding debt such às bonds às well às equity ín publicly traded corporations.

Central banks, such às thé Federal Reserve System banks ín thé United States ànd Bank óf England ín thé United Kingdom, àre strong players ín public Finance, àcting às lenders óf last resort às well às strong ínfluences ón monetary ànd credit conditions ín thé economy.

Overview óf techniques ànd sectors óf thé financial índustry

An entity whose íncome exceeds íts expenditure can lend ór ínvest thé excess íncome. ón thé óther hand, àn entity whose íncome ís less than íts expenditure can raise capital by borrowing ór selling equity claims, decreasing íts expenses, ór íncreasing íts íncome. thé lender can find à borrower, à financial íntermediary such às à bank, ór buy notes ór bonds ín thé bond market. thé lender receives ínterest, thé borrower pays à higher ínterest than thé lender receives, ànd thé financial íntermediary earns thé difference for àrranging thé loan.

A bank àggregates thé àctivities óf many borrowers ànd lenders. à bank àccepts deposits from lenders, ón which ít pays ínterest. thé bank then lends these deposits to borrowers. Banks àllow borrowers ànd lenders, óf different sizes, to coordinate their àctivity.

Finance ís used by índividuals (personal finance), by governments (public finance), by businesses (corporate finance) ànd by à wide variety óf óther órganizations, íncluding schools ànd non-profit órganizations. ín general, thé goals óf each óf thé àbove àctivities àre àchieved through thé use óf àppropriate financial ínstruments ànd methodologies, with consideration to their ínstitutional setting.

Finance ís óne óf thé most ímportant àspects óf business management ànd íncludes decisions related to thé use ànd àcquisition óf funds for thé enterprise.

In corporate Finance, à company's capital structure ís thé total mix óf financing methods ít uses to raise funds. óne method ís debt financing, which íncludes bank loans ànd bond sales. ànother method ís equity financing - thé sale óf stock by à company to ínvestors, thé óriginal shareholders óf à share. ównership óf à share gives thé shareholder certain contractual rights ànd powers, which typically ínclude thé right to receive declared dividends ànd to vote thé proxy ón ímportant matters (e.g., board elections). thé ówners óf both bonds ànd stock, may be ínstitutional ínvestors - financial ínstitutions such às ínvestment banks ànd pension funds — ór private índividuals, called private ínvestors ór retail ínvestors.

Areas óf Finance

Personal Finance

Questions ín personal Finance revolve àround

How much money will be needed by àn índividual (or by à family), ànd when?
How can people protect themselves àgainst unforeseen personal events, às well às those ín thé external economy?
How can family àssets best be transferred àcross generations (bequests ànd ínheritance)?
How does tax policy (tax subsidies ór penalties) àffect personal financial decisions?
How does credit àffect àn índividual's financial standing?
How can óne plan for à secure financial future ín àn environment óf economic ínstability?
Personal financial decisions may ínvolve paying for education, financing durable goods such às real estate ànd cars, buying ínsurance, e.g. health ànd property ínsurance, ínvesting ànd saving for retirement.

Personal financial decisions may àlso ínvolve paying for à loan, ór debt óbligations.

Corporate Finance

Managerial ór corporate Finance ís thé task óf providing thé funds for à corporation's àctivities (for small business, this ís referred to às SME finance). Corporate finance generally ínvolves balancing risk ànd profitability, while àttempting to maximize àn entity's wealth ànd thé value óf íts stock, ànd generically entails three ínterrelated decisions. ín thé first, "the ínvestment decision", management must decide which "projects" (if àny) to undertake. thé discipline óf capital budgeting ís devoted to this question, ànd may employ standard business valuation techniques ór even extend to real óptions valuation; see Financial modeling. thé second, "the financing decision" relates to how these ínvestments àre to be funded: capital here ís provided by shareholders, ín thé form óf equity (privately ór via àn ínitial public óffering), creditors, óften ín thé form óf bonds, ànd thé firm's óperations (cash flow). Short-term funding ór working capital ís mostly provided by banks extending à line óf credit. thé balance between these elements forms thé company's capital structure. thé third, "the dividend decision", requires management to determine whether àny unappropriated profit ís to be retained for future ínvestment / óperational requirements, ór ínstead to be distributed to shareholders, ànd íf so ín what form. Short term financial management ís óften termed "working capital management", ànd relates to cash-, ínventory- ànd debtors management. These àreas óften óverlap with thé firm's àccounting function, however, financial àccounting ís more concerned with thé reporting óf historical financial ínformation, while these financial decisions àre directed toward thé future óf thé firm.

Finance óf public entities

Public Finance describes finance às related to sovereign states ànd sub-national entities (states/provinces, counties, municipalities, etc.) ànd related public entities (e.g. school districts) ór àgencies. ít ís concerned with:

ídentification óf required expenditure óf à public sector entity

Source(s) óf that entity's revenue

thé budgeting process

Debt íssuance (municipal bonds) for public works projects

Financial risk management

Financial risk management ís thé practice óf creating ànd protecting economic value ín à firm by using financial ínstruments to manage exposure to risk, particularly credit risk ànd market risk. (Other risk types ínclude Foreign exchange, Shape, Volatility, Sector, Liquidity, ínflation risks, etc.) ít focuses ón when ànd how to hedge using financial ínstruments; ín this sense ít óverlaps with financial engineering. Similar to general risk management, financial risk management requires ídentifying íts sources, measuring ít (see: Risk measure: Well known risk measures), ànd formulating plans to àddress these, ànd can be qualitative ànd quantitative. ín thé banking sector worldwide, thé Basel àccords àre generally àdopted by ínternationally àctive banks for tracking, reporting ànd exposing óperational, credit ànd market risks.

Finance theory

Financial economics

Financial economics ís thé branch óf economics studying thé ínterrelation óf financial variables, such às prices, ínterest rates ànd shares, às ópposed to those concerning thé real economy. Financial economics concentrates ón ínfluences óf real economic variables ón financial ónes, ín contrast to pure Finance. ít centres ón decision making under uncertainty ín thé context óf thé financial markets, ànd thé resultant economic ànd financial models. ít essentially explores how rational ínvestors would àpply decision theory to thé problem óf ínvestment. Here, thé twin àssumptions óf rationality ànd market efficiency lead to modern portfolio theory (the CAPM), ànd to thé Black Scholes theory for óption valuation; ít further studies phenomena ànd models where these àssumptions do not hold, ór àre extended. "Financial economics", àt least formally, àlso considers ínvestment under "certainty" (Fisher separation theorem, "theory óf ínvestment value", Modigliani-Miller theorem) ànd hence àlso contributes to corporate finance theory. Financial Econometrics ís thé branch óf Financial Economics that uses econometric techniques to parameterize thé relationships suggested.

Financial mathematics

Financial mathematics ís à field óf àpplied mathematics, concerned with financial markets. thé subject has à close relationship with thé discipline óf financial economics, which ís concerned with much óf thé underlying theory. Generally, mathematical Finance will derive, ànd extend, thé mathematical ór numerical models suggested by financial economics. ín terms óf practice, mathematical finance àlso óverlaps heavily with thé field óf computational finance (also known às financial engineering). àrguably, these àre largely synonymous, àlthough thé latter focuses ón àpplication, while thé former focuses ón modeling ànd derivation (see: Quantitative ànalyst). thé field ís largely focused ón thé modelling óf derivatives, àlthough óther ímportant subfields ínclude ínsurance mathematics ànd quantitative portfolio problems. See óutline óf finance: Mathematical tools; óutline óf finance: Derivatives pricing.

Experimental Finance

Experimental Finance àims to establish different market settings ànd environments to óbserve experimentally ànd provide à lens through which science can ànalyze àgents' behavior ànd thé resulting characteristics óf trading flows, ínformation diffusion ànd àggregation, price setting mechanisms, ànd returns processes. Researchers ín experimental finance can study to what extent existing financial economics theory makes valid predictions, ànd àttempt to discover new principles ón which such theory can be extended. Research may proceed by conducting trading simulations ór by establishing ànd studying thé behaviour óf people ín àrtificial competitive market-like settings.

Behavioral Finance

Behavioral Finance studies how thé psychology óf ínvestors ór managers àffects financial decisions ànd markets. Behavioral finance has grown óver thé last few decades to become central to finance.

Behavioral Finance íncludes such topics às:

Empirical studies that demonstrate significant deviations from classical theories.

Models óf how psychology àffects trading ànd prices

Forecasting based ón these methods.

Studies óf experimental àsset markets ànd use óf models to forecast experiments.

A strand óf behavioral Finance has been dubbed Quantitative Behavioral Finance, which uses mathematical ànd statistical methodology to understand behavioral biases ín conjunction with valuation. Some óf this endeavor has been led by Gunduz Caginalp (Professor óf Mathematics ànd Editor óf Journal óf Behavioral Finance during 2001-2004) ànd collaborators íncluding Vernon Smith (2002 Nobel Laureate ín Economics), David Porter, Don Balenovich, Vladimira ílieva, àhmet Duran). Studies by Jeff Madura, Ray Sturm ànd óthers have demonstrated significant behavioral effects ín stocks ànd exchange traded funds. àmong óther topics, quantitative behavioral finance studies behavioral effects together with thé non-classical àssumption óf thé finiteness óf àssets.

Intangible àsset Finance

Intangible àsset Finance ís thé àrea óf finance that deals with íntangible àssets such às patents, trademarks, goodwill, reputation, etc.

Related professional qualifications

There àre several related professional qualifications, that can lead to thé field:

Generalist Finance qualifications:

Degrees: Masters degree ín Finance (MSF), Master óf Financial Economics, Master óf Finance & Control (MFC), Master Financial Manager (MFM), Master óf Financial àdministration (MFA)

Certifications: Chartered Financial ànalyst (CFA), Certified Treasury Professional (CTP), Certified Valuation ànalyst (CVA), Certified ínternational ínvestment ànalyst (CIIA),, àssociation óf Corporate Treasurers (ACT), Certified Market ànalyst (CMA/FAD) Dual Designation, Corporate Finance Qualification (CF), Chartered àlternative ínvestment ànalyst (CAIA)

Quantitative Finance qualifications: Master óf Financial Engineering (MSFE), Master óf Quantitative Finance (MQF), Master óf Computational Finance (MCF), Master óf Financial Mathematics (MFM), Certificate ín Quantitative Finance (CQF).

àccountancy qualifications:

Qualified àccountant: Chartered àccountant (ACA - UK certification / CA - certification ín Commonwealth countries), Chartered Certified àccountant (ACCA, UK certification), Certified Public àccountant (CPA, US certification), àCMA/FCMA ( àssociate/Fellow Chartered Management àccountant) from Chartered ínstitute óf Management àccountant(CIMA), UK.

Non-statutory qualifications: Chartered Cost àccountant CCA Designation from àAFM

Business qualifications: Master óf Business àdministration (MBA), Master óf Management (MM), Master óf Commerce (M.Comm), Master óf Science ín Management (MSM), Doctor óf Business àdministration (DBA)

Financial Management Goals

2010-09-26T23:28:00.000-07:00

Personal Finance Tips : Financial Management Goals
Financial Management

I've attached the video from eHow... this is very interesting in how to get Financial Management Goals..

Category:
Howto & Style

Tags:
* personal finance * finance * loans * money * assets * liabilities * debt * wealth * interest rate

It says..
Having financial management goals is important, because it allows the investor to make informed financial decisions that must be made in order to hit those goals.

Stock Market tips

2008-08-26T21:06:00.000-07:00

Stock Market Tips & Facts : Learn Stock Trading
Stock Market
Learn stock trading by using practice software that allows individuals to set up fake portfolios and make pretend buys and sales. Avoid jumping into the stock market without some experience with advice from a financial analyst in this free video on the stock market.

Expert: Roger Groh
Bio: Roger Groh is the founder of Groh Asset Management.
Filmmaker: Bing Hu

As below ehowfinance 's video

Exchange rate crash

2008-08-02T23:10:00.001-07:00

Exchange rate crash December 22, 2008

Stock Exchange
Panel 1

The 11 mega trends

NZ dollars fall

Fastest and biggest

80 USc in March

52 USc by November

Panel 2

Yen fall even bigger

From 88 in March

To 49 in November

Panel 3

Against Aussie dollar

Relatively stable

Between 80-85 Ac

Panel 4

Why the big fall?

Interest rates slumped

90 day bank bill

From 9% in May

To 5.3% in December

NZ economic recession

Panel 5

Uridashis, Eurokiwis

Fewer new bonds

Commodity gloom

Carry trade danger

Panel 6

Great for exporters?

Depends on prices

Bad for importers?

Depends on prices

Holiday at home

Follow ninetyatnine video in detail..

Learn Technical analysis and stock market tricks..

2008-08-01T23:10:00.005-07:00

Get Smarter about investing...

One of Tutorial How to Learn Technical analysis and stock market tricks.. by Zecco
Technical Analysis

Which provides Free Online Stock Trades, has created a series of video tutorials to help improve your understanding of stock trading.

More detail in the following Zecco video..

This video covers technical stock analysis, including technical indicators, investing education, using technical indicators like MACD, Mac-D, volume, and stochastic.

Wow... I want to learn more from her...

Cost Estimaton ans Coat Accounting

2008-07-26T08:09:00.000-07:00

Sorry for the delay.

The same as in budgeting and accounting.

One is before you actually spend the money and the next is after you spend the money.

--- On Fri, 7/18/08, gurpreet kaur bhatia <g_preet7@yahoo.co.in> wrote:

From: gurpreet kaur bhatia <g_preet7@yahoo.co.in>
Subject: [givefactsFin_Accts] Cost Estimaton ans Coat Accounting
To: "query" <givefactsFin_Accts@yahoogroups.co.in>
Date: Friday, July 18, 2008, 1:54 PM

Can any one tell me what is the exact differance between Cost Estimation and Cost Accounting

Plz answer as soon as possible.

Gurpreet

Learn Technical analysis and stock market tricks for free, , 24/7/2008, 12:00

2008-07-23T23:10:00.004-07:00

Reminder from:		givefactsFin_Accts Yahoo! Group

Title:		Learn Technical analysis and stock market tricks for free,

Date:		Thursday 24 July 2008
Time:		12:00 - 13:00
Repeats:		This event repeats every day.
Notes:		Learn Technical analysis and stock market tricks for free, visit www.snpnifty.com Learn technical analysis almost all chart patterns covered with charts and definations. you can also learn fundamental and economic analysis. total 150 pages of educational database. one of the largest stock market database site in the world. Direct link is http://www.snpnifty.com/Classical_Chart_Patterns.html visit the site www.snpnifty.com http://finance.groups.yahoo.com/group/snpnifty 09785008600 09887188505

Get reminders on your mobile, Yahoo! Messenger, and email.

54th Edition of the Newsletter from ICSI Mysore Chapter

2008-07-15T08:57:00.000-07:00

Dear Readers,

Here is the latest edition of eNewsletter from ICSI Mysore Chapter. As before, your encouragement and honest opinions are making it grow further. And yes, we are awaiting to know to what extent it has been helpful for you and how the eNewsletter can be made more helpful.

Write to us.

Warm Regards,

For eNewsletter Team

Dattatri H M

__._,_.___

Trade with 80-85% accuracy in intraday in cash and future, 12/7/2008, 12:00

2008-07-11T23:10:00.005-07:00

Reminder from:		givefactsFin_Accts Yahoo! Group

Title:		Trade with 80-85% accuracy in intraday in cash and future

Date:		Saturday 12 July 2008
Time:		12:00 - 13:00
Repeats:		This event repeats every day.
Notes:		Trade with 80-85% accuracy in intraday in cash and future 90% accuracy in nifty future and 80% in stock future and intraday. We recommend you to join snpnifty.com for best trading tips www.snpnifty.com Live calls by messenger and sms . You can check past performance on the site. snpnifty.com is providing research based recommends in equity, commodity, future and options since year 2000. we have proven track record of more than 85% accuracy on an averege basis. just visit www.snpnifty.com and check our past performance . www.snpnifty.com http://finance.groups.yahoo.com/group/snpnifty/ www.snpnifty.com contact us at 09785008600, 09887188505 snpnifty@yahoo.com www.snpnifty.com

Trade with 80-85% accuracy in intraday in cash and future, 9/7/2008, 12:00

2008-07-08T23:10:00.002-07:00

Reminder from:		givefactsFin_Accts Yahoo! Group

Title:		Trade with 80-85% accuracy in intraday in cash and future

Date:		Wednesday 9 July 2008
Time:		12:00 - 13:00
Repeats:		This event repeats every day.
Notes:		Trade with 80-85% accuracy in intraday in cash and future 90% accuracy in nifty future and 80% in stock future and intraday. We recommend you to join snpnifty.com for best trading tips www.snpnifty.com Live calls by messenger and sms . You can check past performance on the site. snpnifty.com is providing research based recommends in equity, commodity, future and options since year 2000. we have proven track record of more than 85% accuracy on an averege basis. just visit www.snpnifty.com and check our past performance . www.snpnifty.com http://finance.groups.yahoo.com/group/snpnifty/ www.snpnifty.com contact us at 09785008600, 09887188505 snpnifty@yahoo.com www.snpnifty.com

(¯`•._.BOOK PROFIT IN STOCK MARKET._.•´¯)

2008-07-06T00:12:00.000-07:00

Respected sir,

I will be totally Honest and Short. In Today's depressed markets, everyone from Retail investors to FII's is making huge losses. The reason is simple, we r in a Bear Market.

Well, still we at LNPICKS are making profits. There is no secret formula.

Believe me. In these kinds of markets the only way to make profit is by doing INTRA-Day Trading.

If you will just follow our calls ,and will strict to Intra –day trading .Then it does not matter weather the markets are at 20,000 levels or at 10,000 levels. For an intra-day trader everyday is a new day. That is the reason why we are making profits.

FOR DEATAILS PLZ C OUR ATTACHED PERFORMANCE SHEET OF LAST 1 YEAR.

FOR DETAILS PLZ VISIT OUR WEBSITE- www.lnpicks.com or contact us at 09833028286.

Thanking u,

LNPICKS TEAM

www.lnpicks.com

09833028286

Date	Script	Call	Recomd Price	Target Achieved/ (St Loss Hit)	Lot Size	Profit/loss in Rs.
1.01.08	NIFTY	BUY	6145	6178	300	9900
1.01.08	SUZLON	BUY	1960	1969	400	3600
1.01.08	GBN	BUY	1245	1274	500	14500
2.01.08	APIL	BUY	1032	1044	400	4800
2.01.08	SBI	BUY	2451	2474	250	5750
2.01.08	UNITECH	BUY	522	531	1800	16200
4.01.08	ONGC	BUY	1329	1338	450	4050
4.01.08	NIFTY	BUY	6235	6284	300	14700
7.01.08	SBI	BUY	2415	2437	250	5500
7.01.08	KOTAK BANK	BUY	1405	1424	550	10450
7.01.08	L&T	BUY	4330	4354	100	2400
8.01.08	RCOM	Buy	809	819	700	7000
8.01.08	RELIANCE	Buy	3060	3089	150	4350
9.01.08	UNIPHOS	Buy	385	399	1400	19600
9.01.08	LITL	Buy	818	834	850	13600
9.01.08	TCS	BUY	1007	1039	500	16000
10.1.08	ONGC	Buy	1319	1299	450	-9000
10.1.08	POWER GRID	BUY	146.7	143.9	3850	-10780
11.1.08	AXIS BANK	BUY	1112	1144	450	14400
11.1.08	POWER GRID	BUY	141	143.8	3850	10780
14.1.08	DLF	BUY	1215	1227	800	9600
14.1.08	POWER GRID	BUY	145	145.9	3850	3465
15.1.08	MARUTI	BUY	882	889	400	2800
15.1.08	UNITECH	SELL	525	517	1800	14400
15.1.08	L&T	SELL	4145	4116	100	2900
17.1.08	BEML	SELL	1600	1581	250	4750
17.1.08	ACC	BUY	880	884	750	3000
18.1.08	KESORAM	BUY	574	584	1000	10000
18.1.08	ICICI	BUY	1343	1329	350	-4900
23.1.08	HDIL	BUY	975	999	800	19200
23.1.08	NTPC	BUY	217	225	3250	26000
25.1.08	ICICI	BUY	1222	1265	350	15050
25.1.08	JP ASSPCIATE	BUY	372	382	1500	15000
25.1.08	Nifty	BUY	5290	5382	300	27600
28.01.08	Nifty	Buy	5090.00	5194.00	300	31200
29.01.08	Nifty	Buy	5275.00	5321.00	300	13800
29.01.08	SBI	Buy	2328.00	2308.00	264	-5280
30.01.08	Nifty	Buy	5235.00	5244.00	300	2700
31.01.08	Nifty	Buy	5095.00	5220.00	300	37500
01.02.08	Rel.Cap	Sell	1888.00	1881.00	550	3850
02.02.08	Nifty	Buy	5505.00	5552.00	300	14100
02.02.08	Nifty	Buy	5430.00	5400.00	300	-9000
04.02.08	Nifty	Buy	5005.00	5052.00	300	14100
04.02.08	Nifty	Buy	5430.00	5400.00	300	-9000
05.02.08	Nifty	Buy	5450.00	5488.00	300	11400
05.02.08	Nifty	Sell	5486.00	5458.00	300	8400
06.02.08	Nifty	Buy	5298.00	5342.00	300	13200
08.02.08	Nifty	Buy	5140.00	5120.00	300	-6000
08.02.08	Nifty	Buy	5060.00	5150.00	300	27000
12.02.08	Infosys	BUY	1584.00	1594.00	200	2000
13.02.08	SBI	BUY	2100.00	2123.00	264	6072
13.02.08	LITL	SELL	396.00	392.00	850	3400
14.02.08	TATA STEEL	BUY	788.00	793.00	764	3820
14.02.08	GRASIM	BUY	2835.00	2889.00	176	9504
14.02.08	NIFTY	BUY	5126.00	5179.00	300	15900
15.02.08	ONGC	BUY	1035.00	1044.00	450	4050
15.02.08	SAIL	BUY	214.00	221.00	2700	18900
15.02.08	UNITECH	BUY	381.00	392.00	1800	19800
18.2.08	REL CPITAL	BUY	2138.00	2144.00	1100	6600
20.2.08	Nifty	SELL	5185.00	5116.00	300	20700
21.02.08	RPOWER	BUY	410.00	424.00	900	12600
22.02.08	HDIL	BUY	833.00	849.00	800	12800
22.02.08	DLF	BUY	832.00	836.00	800	3200
25.02.08	INFOSYS	BUY	1605.00	1623.00	400	7200
26.02.08	JP ASSOCIATE	BUY	260.00	272.00	1500	18000
27.02.08	ICICI	SELL	1125.00	1106.00	350	6650
28.02.08	NIFTY	SELL	5255.00	5232.00	300	6900
3.03.08	ROLTA	BUY	300.00	306.30	1800	11340
4.03.08	LIC HOUSING	SELL	293.00	282.00	1700	18700
4.03.08	ACC	SELL	770.00	750.00	376	7520
4.03.08	RELIANCE	BUY	1513.00	1495.00	150	-2700
5.03.08	AXIS BANK	SELL	900.00	886.00	450	6300
11.03.08	RELIANCE	BUY	2315.00	2354.00	150	5850
12.03.08	SIEMENS	SELL	690.00	671.00	752	14288
14.03.08	ICICI	BUY	846.00	874.00	350	9800
18.03.08	REL CPITAL	BUY	1165.00	1174.00	276	2484
18.03.08	DENA BANK	SELL	53.00	51.40	5250	8400
23.03.08	NIFTY	SELL	4680.00	4611.00	300	20700
27.03.08	UNITECH	BUY	274	283	1800	16200
28.03.08	RELIANCE	SELL	2285	2270	150	-2250
28.03.08	SIEMENS	BUY	675	683	752	6016
1.04.08	IDFC	SELL	150	145.5	2950	13275
1.04.08	IOB	SELL	135	130.4	2950	13570
3.04.08	NEYVELITE	BUY	126	127.9	2950	5605
7.04.08	SBI	BUY	1640	1673	264	8712
8.04.08	DENA BANK	BUY	52	54.4	5250	12600
8.04.08	WELSPUN	BUY	388	385	1600	-4800
9.04.08	RELIANCE	BUY	2410	2457	150	7050
11.04.08	L&T	BUY	2725	2799	100	7400
15.04.08	DLF	BUY	603	619	800	12800
28.04.08	PARVANATH	BUY	228	234	1400	8400
28.04.08	CENTURY TEXT	BUY	832	825	424	-2968
29.04.08	TCS	BUY	896	914	500	9000
29.04.08	SAIL	BUY	178	181.3	2700	8910
30.04.08	BHEL	BUY	1923	1989	150	9900
5.05.08	DLF	BUY	732	744	800	9600
6.05.08	ADLABS	SELL	769	744	450	11250
6.05.08	BOMBAY DYING	BUY	1005	1022	600	10200
7.05.08	TATA STEEL	BUY	823	835	764	9168
8.05.08	IDFC	BUY	176	177.4	2950	4130
9.05.08	ICICI	BUY	900	891	350	-3150
12.05.08	IVRCL INFRA	BUY	426	429	1000	3000
12.05.08	REL CPITAL	BUY	1300	1317	276	4692
13.05.08	HDFC	BUY	2725	2739	150	2100
21.05.08	ONGC	BUY	949	964	450	6750
23.06.08	SAIL	SELL	173.5	171.4	2700	5670
29.06.08	INFOSYS	BUY	1860	1890	400	12000
2.06.08	TATA STEEL	SELL	895	879	764	12224
3.06.08	RPL	BUY	171.3	173.2	3350	6365
4.06.08	HDFC	BUY	2450	2429	150	-3150
16.06.08	L&T	BUY	2780	2759	100	-2100
17.06.08	HDFC	BUY	2205	2249	150	6600
17.06.08	KOTAK BANK	BUY	638	654	550	8800
18.06.08	JP ASSOCIATE	BUY	192	192.9	1500	1350
18.06.08	BOMBAY DYING	BUY	776	779	600	1800
19.06.08	ACC	BUY	653	644	376	-3384
19.06.08	L&T	SELL	2660	2636	100	2400
20.6.08	AXIS BANK	SELL	710	696	450	6300
24.06.08	INFOSYS	SELL	1830	1811	400	7600
24.06.08	SIEMENS	BUY	444	447	752	2256
26.06.08	SAIL	SELL	149	146.6	2700	6480
27.06.08	ISPAT	BUY	24	23.5	4150	-2075
1.07.08	YES BANK	SELL	108	106.1	2200	4180
3.07.08	BOI	BUY	224	238	1900	26600

Use of internet bandwidth not liable to tax

2008-07-02T22:10:00.000-07:00

IN THE HIGH COURT OF DELHI

IT Appeal No. 527 of 2007

COMMISSIONER OF INCOME TAX

ESTEL COMMUNICATIONS (P) LTD

Shri Madan B Lokur & V B Gupta, JJ

Dated : March 7, 2008

Appellant Rep. by : Shri Ms P L Bansal
Respondent Rep. by : Shri R M Mehta

Income Tax - Assessee buys internet bandwidth from an American company and sells the same to its customers in India - AO treats it as taxable u/s 9(1)(vii) and insists on TDS - Tribunal disagrees - Held, since the payment was made for a simple purchase of internet bandwidth, no technical services were provided - Revenue's appeal dismissed

JUDGEMENT

The Revenue is aggrieved by the order dt. 8th Sept., 2007, passed by the Tribunal, Delhi Bench 'G', in ITA No. 4560/Del/2003 relevant for the asst. yr. 2001-02.

2. According to the assessee, it is providing internet access of a certain bandwidth to its subscribers. The main server, on the basis of which the internet services are provided is located in USA. For the services rendered by the assessee to the subscribers in India, it levies a charge and out of this, some amount is paid to the US party, that is, M/s Teleglobe International Corporation (for short Teleglobe').

3. According to the AO. the assessee was liable to deduct tax at source from the payments made to the US party. For arriving at this conclusion, the AO invoked the provisions of s. 9(1)(i) and s. 9(1)(vii) of the IT Act, 1961.

4. Feeling aggrieved by the order passed by the AO, the assessee preferred an appeal which was allowed by the CIT(A). It was held that the assessee was merely providing internet services to its subscribers and, therefore, there was no question of deduction of tax at source in respect of payments made by the assessee to Teleglobe.

5. Against the order passed by the CIT(A), the Revenue preferred an appeal before the Tribunal and we find from a perusal of paragraph 10 thereof that the application of s. 9(1)(i) of the Act was not pressed by the Departmental Representative. The only question that arises, therefore, is about the applicability of the s. 9(1) (vii) of the Act.

6. Insofar as this is concerned, the Tribunal considered the agreement that had been entered into by the assessee with Teleglobe and came to the conclusion that there was no privity of contract between the customers of the assessee and Teleglobe. In fact, the assessee was merely paying for an internet bandwidth to Teleglobe and then selling it to its customers. The use of internet facility may require sophisticated equipment but that does not mean that technical services were rendered by Teleglobe to the assessee. It was a simple case of purchase of internet bandwidth by the assessee from Teleglobe.

7. Under the circumstances, the Tribunal came to the conclusion that there were no technical services provided by Teleglobe to the assessee and, therefore, the provisions of s, 9(1)(vii) of the Act did not apply.

8. We find that the Tribunal has rightly dismissed the appeal after taking into consideration the agreement between the assessee and Teleglobe and the nature of services provided by Teleglobe to the assessee. It was a simple case of payment for the provision of a bandwidth. No technical services were rendered by Teleglobe to the assessee.

9. On a consideration of the material on record, we find that no substantial question arises in the matter. The appeal is, accordingly dismissed.

Regards,

Praveen Boda

Source: TIOL

On Wed, Jun 25, 2008 at 4:09 PM, Praveen Boda <praveenboda@gmail.com> wrote:

THE Delhi High Court has held that where the assessee used internet bandwidth of a US company for providing internet access to its Indian subscribers, such transaction cannot be termed as technical services rendered by the US company, liable to tax in India. The assessee was engaged in the business of providing internet access to its subscribers. The main server, on the basis of which internet services were provided, was in the US. Out of the service charges collected by the assessee from the subscriber, it paid an amount to the US company. The assessing officer held that the services rendered by the US company were in the nature of technical services as per provisions of section 9(1)(vii) of the Act and therefore, the assessee was liable to deduct TDS on such payment. The High Court observed that there was no privity of contract between the customers and the US company. The assessee was merely paying for an internet bandwidth to the US firm and then selling it to its customers. Hence, the assessee had only purchased internet bandwidth. The use of internet facility may require sophisticated equipment but that does not mean that technical services were rendered by the US firm to the assessee. Therefore, it held that the payment was not subject to TDS.

--
Regards,
Praveen Boda

Process for application under RTI Act

2008-07-01T22:20:00.000-07:00

Sir,

The information is very useful and please give similar input for excise,service tax and the website address which is referred by V. Pamecha

Guruswamy

Chennai

From: givefactsFin_Accts@yahoogroups.co.in [mailto:givefactsFin_Accts@yahoogroups.co.in] On Behalf Of Paras Chhajed, FCA, Rajnandgaon
Sent: Thursday, June 26, 2008 6:36 PM
To: aaykarbhavan@googlegroups.com; accounting_accountants_group@yahoogroups.com; agracagroup@yahoogroups.com; auditing@yahoogroups.com; bangalorecas@yahoogroups.com; bhilaicityca@yahoogroups.com; ca_actioncommittee@yahoogroups.com; ca_alumni2004@yahoogroups.com; ca_bangalore@yahoogroups.com; CaCmaCsFriends@yahoogroups.com; CaCmaCsLinksPLUS@yahoogroups.com; cacscwaindia@yahoogroups.co.in; cacscwaindia@yahoogroups.com; CaCwaCsLinks@yahoogroups.com; CaDiscussionForum@yahoogroups.com; CAForumindia@yahoogroups.com; cafriends2004@yahoogroups.com; caindia@yahoogroups.com; canarnaul@yahoogroups.com; CANEWS@yahoogroups.com; canext@yahoogroups.com; CAnotes@yahoogroups.co.in; caprofessionals@yahoogroups.com; capunjab@yahoogroups.com; carajkumarradukia@yahoogroups.com; CAsofAhmedabad@yahoogroups.com; ccs_ind@yahoogroups.com; Chartered_accountant@egroups.com; Chartered_accountant@yahoogroups.com; chartered_accountant_of_chhattisgarh@yahoogroups.com; charteredaccountantofcalcutta@yahoogroups.com; company_secretary@yahoogroups.com; csindia@yahoogroups.com; cvoca@yahoogroups.co.in; CyberCA@yahoogroups.com; dahisarcas@yahoogroups.co.in; dahisarcas@yahoogroups.com; dehradun-ca@yahoogroups.com; delhi_ca@yahoogroups.com; dirm@yahoogroups.com; dirmicai@yahoogroups.com; FINANCE_COM@yahoogroups.com; gcai@yahoogroups.com; givefactsFin_Accts@yahoogroups.co.in; gujaratcas@yahoogroups.com; Hub4Finance@yahoogroups.com; icai@yahoogroups.com; icaihyd@yahoogroups.com; icaihyderabad@yahoogroups.com; icaimumbai@yahoogroups.com; Indian-CA@yahoogroups.com; indian_chartered_accountants@yahoogroups.com; Indian_Practicing_Chartered_Accountants@yahoogroups.com; indiancaclub@yahoogroups.com; It_law_reported@yahoogroups.com; itaxusers@googlegroups.com; jaimyaaykar@goglegroups.com; jainca@yahoogroups.com; Jaipur_CA@yahoogroups.co.in; JalandharCA@yahoogroups.com; Kanpur_CharteredAccountants@yahoogroups.com; Knowledgeandfun@yahoogroups.com; meerut-ca@yahoogroups.com; meraconsultant@yahoogroups.com; mytaxgroup@googlegroups.com; net4ca@yahoogroups.com; punjab-ca@yahoogroups.com; ServiceTax@yahoogroups.com; servicetaxindia@yahoogroups.com; solapur-ca@yahoogroups.com; SURATCITYCA@yahoogroups.com; TALLY-CA@yahoogroups.com; tallyusersclub@yahoogroups.com; tarunghiadirecttaxes@yahoogroups.co.in; tarunghiadirtaxes@yahoogroups.co.in; TaxFinSoft@yahoogroups.com; taxonclick@yahoogroups.com; ThaneCAs@yahoogroups.com; thedynamiccamay04group@yahoogroups.com; VATINDIA@yahoogroups.com; ycaf-gcai@yahoogroups.com; A; AHEMDABAD; bhilai-ca@yahoogroups.com; CA Club India; CAs of Solapur; casGOA; Casofpune; cvoca; ghaziabad; global; H; indianaccountants; indiancas@yahoogroups.com; lucknowca; lucknowca; Meerut; nextgen-ca; SERVICE TAX QUERY; SolapurCAs; svat; tax; Tax-Finance; vadodara
Subject: [givefactsFin_Accts] Fwd: [Thane CAs] Process for application under RTI Act

---------- Forwarded message ----------
From: viren dedhia <virendedhia_ca@yahoo.com>
Date: Jun 26, 2008 10:30 AM
Subject: [Thane CAs] Process for application under RTI Act
To: ThaneCAs@yahoogroups.com

Dear All

pease find the attached files useful for right to information

regards

viren

--- On Wed, 25/6/08, Sanjeev Narsinghani <sanjeevn@vsnl.com> wrote:

From: Sanjeev Narsinghani <sanjeevn@vsnl.com>
Subject: Re: [Thane CAs] Process for application under RTI Act
To: ThaneCAs@yahoogroups.com
Date: Wednesday, 25 June, 2008, 1:39 PM

HI

I've attached the format of application under RTI Act.

The Fees are Rs. 10/-

If the application is before state govt. authority then cort fee stamp of Rs. 10 is enough. If application is to Central govt. authority like Income Tax then instead of Court Fee Stamp affix a postal order of Rs. 10/-

Best Regards

Sanjeev Narsinghani

----- Original Message -----

From: v pamecha

To: ThaneCAs@yahoogroup s.com

Sent: Tuesday, June 24, 2008 6:25 PM

Subject: Re: [Thane CAs] Process for application under RTI Act

Dear Sir,

I've prepared a website on this subject (RTI). Kindly do visit and find all the required information there.

Thanks & regards.

V. Pamecha

----- Original Message ----
From: Rajat Goenka <rajat_goenka@ hotmail.com>
To: Aaykar Bhavan Group <aaykarbhavan@ yahoogroups. com>; Company Secretary Group <company_secretary@ yahoogroups. com>; Service Tax Group <servicetaxandvat@ yahoogroups. com>; Thane CAs Group <thanecas@yahoogroup s.com>
Sent: Saturday, 21 June, 2008 2:51:40 PM
Subject: [Thane CAs] Process for application under RTI Act

CAn some one guide me how to make an application under RTI Act. What are the fees, process etc. And if possible a format for making an application under RTI Act.

regards
Rajat Goenka

From Chandigarh to Chennai - find friends all over India. Click here.

Send instant messages to your online friends http://uk.messenger.yahoo.com

--
CA Paras Chhajed
FCA, DISA (ICA)
Azad Chowk
Rajnandgoan
491441Chhatisgarh
Ph. (07744) 224246, 403903
Mobile: 09425240246
e-mail: paraschhajed@gmail.com

The information containted and transmitted by this EMAIL is proprietary to TAFE  and is intended for use only by the individual or entity to which it is addressed, and   may contain information that is privileged, confidential or exempt from disclosure   under applicable law.If this is a forwarded message,the content of this E-MAIL may   not have been sent with the authority of the Company. If you are not the intended   recipient, an agent of the intended recipient or a person responsible for delivering   the information to the named recepient, you are notified that any use, distribution  transmission,printing, copying or dissemination of this information in any way or in   any manner is strictly prohibited.If you have received this communication in error,   please delete this mail.

__._,_.___

North Korea denuclearising : Reasons, benefits to the already ‘food crisis’ hit country

2008-06-26T05:34:00.000-07:00

North Korea has finally given a 6 month due account of its nuclear programme to China, which contains the Korea's plutonium enrichment efforts. This handover comes under the global efforts which offer North Korea many diplomatic, political, safety and economic benefits/advantages/incentives. I've summed up a few:

US will remove North Korea from their list of 'states sponsoring terrorism' : a big move that will make them trustworthy and reputable in world affairs.
Nuclear Weapons, weapons grade material or any other reactors North Korea may have piled or built have to be disarmed according to the deal. This will make all its neighbors be on better terms with each other and make cordial relations with South Korea and Japan and other countries close-by.
There were some rumors that North Korea is dumping their nuclear reactors policy for a exchange of food aid (I saw that on CNN channel) but couldn't really believe it.

Furtheron, news is rife that North Korea is facing a serious 'famine' or food crisis. Being one of the most 'closed-mouth' country in the world, no one really nows the scenario inside North Korea, but international observers have analyzed that the country faces a shortage of more than 1 million tonnes of grain (thats huge !!!) which it has to feed to its population.Though there is no inside information, North Koreans have always looked less-nourished than their opulent over-the-wall neighbors South Korea. Countries like South Korea have committed or in the process of giving 50,000 tonnes of corn and US is known to have promised half a million tonnes of grain. Thats it for external contributions as of now.

Rising deaths from rural areas and greater awareness have led their leader Kim Jong-il to give remedies to this food crisis as 'high priority'. Otherwise soon North Korea will face a famine that it last saw in the mid 1990s when famine/food crisis claimed a million lives then.

So do you think the above two are interconnected? Or North Korea has simply succumbed to international pressure?

-Chirag Jain

Refund of A.Y. 2006-07

2008-05-27T06:39:00.000-07:00

unsubscribe

Impressive and Memorable Relation of Amity Network

----- Original Message ----
From: CA Vikas Garud <anveshak27@gmail.com>
To: givefactsFin_Accts@yahoogroups.co.in
Sent: Wednesday, May 7, 2008 7:59:59 AM
Subject: Re: [givefactsFin_Accts] Refund of A.Y. 2006-07

Sir,

This is not problem of one particular city.

But to my knowledge the problem persist in most of the location accross the country.

The processing of those returns is online

to be processed in the official timing through internet connectivity to Delhi Server.

Very few officers / staff are trained for that.

All the rest express their inability whereas those who are trained may try to take disadvantage of their position- as usual.

On 05/05/2008, Deepak Bholusaria <dkbholusaria@ yahoo.com> wrote:

File a petition under RTI asking for the reasons for not delivering refund order.

CA. Deepak Bholusaria

----- Original Message ----
From: C.A. Arvind Kumar Agrawal <arvind@akaandco. com>
To: ICAI_CIRC_MEERUT_ CA@yahoogroups. com
Cc: givefactsFin_ Accts@yahoogroup s.co.in
Sent: Friday, 18 April, 2008 12:04:00 PM
Subject: [givefactsFin_ Accts] Refund of A.Y. 2006-07

Dear Sir,

I filed oneline return of one Private Limited Company for A.Y. 2006-07 in the month of Feb. 2007 claiming a refund of Rs. 68906/-.

The said refund is not received by the company upto now.

Company is from a very small city of U.P. When I contacted the A.O., he expressed his inability to help in the matter as the return was filed online.

Kindly tell me what to do in this case.

Regards.

C.A. Arvind Kr. Agrawal

ETAH U.P.

9259467501

Explore your hobbies and interests. Click here to begin.

--
With Warm Regards,

CA. Vikas Garud
M.Com.,LL.B. (G),Grad. C.W.A.,F. C.A.
Chartered Accountant
Tel -0253-2316384/ 2579084 Fax 2316412 : Mob. 9823118834
Director - Servunity Business Solutions P.Ltd.

HAVE A NICE DAY!!!!!!!!!

strange question

2008-01-08T06:36:00.000-08:00

Tame, I don't think anyone has a stupid question. I didn't know if cc
interest was deductible or not, that's why I asked. That's what this
group is for.I believe at one point or another we've all made
uninformed or unwise decisions because none of us would be on this
group to begin with.

Warning, I ask a lot of questions that may be common sense to others
so hopefully people are patient with me as well.
Take care
Donna

In debtsteps@yahoogroups.com, "valkeri@..." <Valkeri@...> wrote:
>
> Tom,
> You know what. I have had the same tax rep since 1986. I'm not
positive on all that is claimed and not claimed. I knew for fact cc
interest isn't. Excuse me for being stupid!!!!!!
>
> Tame
>

income taxes

2008-01-07T15:02:00.000-08:00

I think it really depends on who you end up with in H&R Block. We do
pay that ridiculous fee for a basic tax return, but our H&R Block
person is fantastic and goes beyond taxes, giving us financial advice
and lowering our stress level immensely. We are terrified she'll
retire someday, although she's promised not to.

It's all about choices--I choose to pay so that I know my taxes are
done right and most importantly, I don't have to do them. :)

--Bailey

income taxes. free links to file

2008-01-07T14:55:00.000-08:00

There are numerous places to file for free. go to www.taxcut.com ,

got to

www.irs.gov

.... look for the links to file.

go to

www.turbotax.com

again, look for links,

I think once you get over 50,000.00 or 60,000.00 income, it becomes less easy to file for free. but there are places . No body should have to pay that much to file.

JulieL

OK I am coming clean

2008-01-07T09:24:00.000-08:00

I have lurked here for more than a year. I am frustrated because I know
most of the information. My core issue is my spouse (who is the home
maker) is very weak in these areas. Now of course I preach these
tenants continuosly and my spouse occasionally has moments of adherance.

Unfortunately, theres no continuity.

I make good money, but never seem to have a penny. We have the usual:

1. House and Second (I know, I know, read above)
2. Two cars (One gets paid off in November 08)
3. One credit card (less than 2K in balance)

Here is the biggie!

IRS debt! I currently owe 5K on a debt from 5 years ago that was 500
and was created by a tax preparer issue.

I think I am doing OK... But have moments of terror and fear. I
currently work a contract at the "Largest software manufacturer in the
world" It ends in November. The tech sector has been rough with
multiple unemployments and such.

So thats me now you know.

Dan

Emergency Fund

2008-01-07T08:55:00.000-08:00

Yes. If you are not paying credit cards, it is much easier.

Sit down and write down the amount of every single payment you are making every month.

Now, FOR EXAMPLE, if you paid in full every single installment payment (credit cards, auto loans, college loans), how much money is that every month? Now, multiply that by 12 (one payment a month). Your total is $_________. If you were free of those payments every month, you could save that money.

Then, you could sell off a few things and put that money in the bank or invest it. Then, you could earn extra money on the job (overtime, bonuses, etc.); tax refunds (save them if you can after you are free of credit card debt); plus, you can find more ways to cut your expenses. That money can also be put away.

I know people who pay $500 a month for their car note. That being paid off will be $6,000 a year put away. Plus, once paid off, they can lower their auto insurance amount.

Not having to pay the credit cards frees up a lot of money! I know once we are free of credit card payments, college loan payments and car payments, there will be A LOT OF MONEY available for us to do other things.

Herlean

Wendy Bruening <az543_2000@...> wrote:
seriously, people are able to accumulate and keep 6 months expenses sitting in a savings account???

Cummuta

2008-01-07T05:59:00.000-08:00

seriously, people are able to accumulate and keep 6 months expenses sitting in a savings

strange question

2008-01-06T18:06:00.000-08:00

Tame, you had better check with a tax adviser or use something like
turbo tax. You can claim Mortgage interest, but not the mortgage.
You cannot claim clothing for the kids, no matter which way you slice
it. There are a lot of loopholes, but there are also a lot of rumors
and just plain bad advise going around.

--- In debtsteps@yahoogroups.com, "valkeri@..." <Valkeri@...> wrote:
>
> To my knowledge no. However, if you donate things to places like
Goodwill you can claim that as long as you itemize the things at
garage sale prices. I do believe mortgages and property taxes can be
claimed, clothing for children throughout the school year too. At
least that's what my friend told me. Remember to keep the receipts.
> Tame
>

Emergency Fund Specifics

2008-01-06T18:01:00.000-08:00

Most say 3-6 months expenses. That's housing, transportation,
utilities, food, etc. Not 3-6 months income, because you do not need
to replace savings, etc.

--- In debtsteps@yahoogroups.com, "smithbaulv" <bailey@...> wrote:
>
> Hello, group!
>
> Does anyone know a commonly accepted/rule of thumb amount for an
> emergency fund for homeowners?

I saw a CCCS counselor this week.....

2008-01-06T15:13:00.000-08:00

and although they cannot give recommendations about things like
filing for bankruptcy, she did refer me to an organization that will
recommend a reputable attorney to do it. Following the end of a 24-
year marriage, I found myself in quite a pickle. As it is right now,
I owe $45,000 on unsecured loans. I do have a full-time job that,
including the time for commuting, means I am gone for 12 hours of
the day. Even if I were to find a part time job in my rural area,
would literally have no time left over to sleep if I had another
job. When the counselor ran the numbers, it turns out I have
approximately $100 a month "left over" after budgeting for basic
expenses (i.e., not including the cc debts). If my exhusband cuts
spousal maintenance as he is planning to do, I will have $600 less
each month to juggle.

I've gone to a seminar similar to Dave Ramsey's method of paying off
debts. I've sold/turned off most of the things that are extraneous
and not bolted down. I live pretty much on cereal and oatmeal. (I'd
eat the Ramen noodles if I didn't have food allergies).

I know that it's not an honorable thing to do - to file for
bankruptcy. I didn't plan on having to consider it, and I know the
CC companies, other taxpayers, etc., want to see me pay it back.
I've gotten to the point, though, where it's either file for
bankruptcy or give serious thought to the fact that I'm worth more
dead than alive.

A year ago, I had contacted my CC companies and explained the
situation. Only two of them agreed to lower the interest rates.
Chase lowered theirs to 2% permanently (after I voluntarily closed
the account) and Target temporarily lowered theirs to 10% for six
months. I'm current on all those payments, but am now to the point
where I have a $350 medical bill and a $570 heating oil bill sitting
to be paid, and there is absolutely nothing to pay them with unless
I skip some CC payments this month.

Any other ideas, suggestions, or constructive comments from those
who have been in a similar situation would be appreciated.

Regards,
Kelly

Question about debt colsolidation companies

2008-01-06T10:33:00.000-08:00

Earlier last year, I signed on with a debt consolidation company
(supposedly non-profit). Right after my first payment (lump sum
monthly) was withdrawn (this was around $1400) I decided to get out
of it b/c the guy who did my mortgage said it would absolutely
terrible on my credit report and that it would be just about as bad
as filing for bankrupcy, and that we would have trouble if we wanted
to refinance the our house in the future. I went ahead and paid off
a large amount of my bills with money withdrawn from my 401K account.

That being said, I have only dealt w/ these people via internet.
There are no listed phone numbers. I e-mailed back to them and the
guy stated that he had "confirmed" payment to my credit cards that I
had listed with them. I asked for a list with the specific amounts
that had been paid, but the company has not even responded to me,
even via e-mail. I could not tell that they had even paid anything
to my credit cards. My question....what can I do to get an itemized
list from them if they will not answer e-mail? They list no phone
number (other than the 800 number that is a recording and then they
call you back) and no address tha I can find on their web site. I
checked them out w/ the Better Business Bureau before I signed on,
but apparently that was not enough. Do I have any recourse at this
point if they did not send in all my creditors? The name of this
outfit is Assumption.

Thanks for your help.

Vicki

banks and finance

2007-06-07T21:03:00.000-07:00

How Banks Can Help You Improve Your Personal Finance

If any institution is known for managing finance, it is banks. This is why many people seek advice about personal finances from professionals at their local bank. Banks can provide you with personalized finance solutions. They can help you better manage your finances.

Talking to a bank advisor can often help you find out what financial solutions are available and how can these solutions can work to your benefit.

In order to boost your confidence in your personal finances and your future, you need to understand your goals and needs. When you thought throughwhat you really want your personal finances to look like, you can go seek help from your bank.

Even if you have a concrete plan that includes all your wants and needs, but only a vague idea about what your financial future looks like, you should still drop in for help. They are there to guide you in your quest for personal financial liberation. They are there to help you--and you should utilize their services: that's what they are there for.

They are not the enemy. They are committed to helping people who seekhelp in financial matters.

Look at your current personal finance situation. Are you happy with it? Have you tried everything to better it on your own, to no avail?

If you have honestly tried it all, maybe its time you entered your bank and had a chat with them. They are there to aid you with almost all the issues surrounding your personal finance: How to pay less interest on a loan; how to save; and how to ensure that your mortgage rates don’t increase.

And that's just a fraction of what they can offer you. Stop in your bank today, get advice, and start your journey on an alternative, better planned financial path.

benefits of saving

2007-05-21T05:34:00.000-07:00

The Benefits Of Saving For Your Child's School Finance

Defining your savings goals is the first thing to do before you invest, especially when that investment will have an impact on your child’s future. It is after-all your child’s future that you are investing in--and school finance cannot be avoided, as babies will grow into adults who need to be given the best opportunities we can offer as parents.

The best advice that any parent can get is to start saving early. College tuition fees can cause a strain on your family's budget and lifestyle. You need to have a goal to keep you motivated to save. And what better motivation is there than knowing that the money you save will finance your child's education.

Normally the best stage to start saving for your child’s finance towards college tuition is at birth. If, however, you have not started, then the time to start saving is now. It is never too late to start saving.

The sooner you start saving, the more time there’ll be for compound interest to build up into a nice college fund for your child. Remember that each child should get his or her school finance savings fund.

You also need to decide the amount you intend to save by the time that your child reaches college age. There are many options available for you to choose from when it comes to school finance. You could choose a specific dollar amount. This means that you calculate the projected cost of public college tuition by the time your child is ready for college.

The other commonly used method, which many parents prefer, involves devoting a fixed percentage of income to their child's future college costs. The idea is this: whatever you do, you have to have a defined goal. You should save as much as you can, whether it be a large amount, like several hundred dollars a month or a more modest amount, such as $25 to $50 each month.

A college education is an investment in the future of your child. If you truly want to see your child succeed, as all parents do, what could possibly be a better investment?

finances and divorce

2007-05-15T18:33:00.000-07:00

Are Your Finances Prepared For Divorce?

Life is hard and nothing is more testing and straining than going through a divorce. A divorce can indeed be a stressful time without the added pressures on ones finances. Besides emotional erosion, a divorce is also known to be a costly event in a person’s life; however provisions can be made by both parties to ensure that the financial strain incurred through divorce is made to be an equally-shared responsibility.

The best way to ensure that your divorce does not put a strain on your finances is to be realistic. What are the objectives or goals to be reached financially? People often are so used to sharing their finances when they are married that the prospect of divorce leaves them feeling confused as to what they own as an individual.

Initially couples have to embrace the fact that they are individuals and so are their finances. They are individual finances. By calculating what each person is worth or has contributed to the relationship often helps solve the problem.

The thing to do is to get help from a professional finance advisor who can aid you in this. By doing this, you are being realistic about the financial implications of a divorce. Lawyer fees can be more expensive than expected if the divorce drags out endlessly because as a couple you cannot reach an agreement. If you don’t want to do this for your partner as a gesture of decency, then at least do it for your own financial future.

The tragic thing about this whole ordeal is that couples are often so bitter that they cannot see through their own disappointment. Instead they opt for a full on war with each other and forget what this war costs them in terms of personal finance. Maybe people should learn to more realistic: once it is over it is over. Pack your bags and move on; save yourself from the bills that will come on after, leaving you in a financial mess that might take too long to sort out.