NBCC LAUNCHES "NBCC Town" : AN AFFORDABLE HOUSING SCHEME

NBCC has launched “NBCC Town” scheme at Khekra on Delhi – Sharanpur Highway. 19 Km Away from the ISBT, the flats start at a price of 6.75 Lac for One Bedroom Flat (493 Sq. ft.) at 4th Floor of Lotus Apartments. The scheme opens from 25th August,2009.

NBCC has come up with four type of apartments. The Lotus apartments (4 Storey) will house One bedroom Flats. Lilly apartments (4 storey) will house 2 bedroom flats. Tulip Apartment (4 storey) will house 3 Bedroom and Marigold Towers (7 storey) will also house 3 Bedroom flats but will have facility of stilt Car parking.

The costliest flat in the scheme is located at the First Floor in the Marigold Towers with an area of 1100 Sq. Ft. and is prices at 17.8 Lac for 3 Bedrooms with 2 Balconies. Car parking will cost additional 1.25 Lac for flats at Marigold Towers.

The application form is available at the NBCC Bhawan at Lodhi Road and Sector 41 Noida at a price of Rs 100.The forms are also available at designated branches of HDFC Bank, Union Bank, Corporation Bank and Axis Bank.The application form for NBCC Town can be downloaded here:
http://www.nbccindia.com/nbccindia/public/jsp_pub/loni_details.jsp

NBCC has come up with four type of apartments. The Lotus apartments (4 Storey) will house One bedroom Flats. Lilly apartments (4 storey) will house 2 bedroom flats. Tulip Apartment (4 storey) will house 3 Bedroom and Marigold Towers (7 storey) will also house 3 Bedroom flats but will have facility of stilt Car parking.If you are a working or retired Government / PSU Employee then you are eligible for a special discount of 5%.

FOR FURTHUR DEATILS CHECK THE WEBSITE: WWW.NBCCINDIA.COM

NEW TAX DRAFT CODE :HIGHLIGHTS

The 47-year-old direct tax law in India may soon be history. The draft of a new direct tax code was unveiled on Wednesday and will become law in 2011 after a process of due consultation.

But what's more important is the big shift proposed in the way we compute tax and the entire philosophy behind taxation.


Here are some of the simplified Highlights of the the Draft Tax Code bill (I have highlighted the ones that are important):

1.Higher income tax slabs, lowering net payable taxes.
New tax slab
Up to Rs1.6 lakh: No tax
income between Rs160,000 and Rs10,00,000 20% tax
for income between Rs10,00,000 and Rs25,00,000
30% tax for income over Rs25,00,000

2.Lowers the incidence of tax on corporate and individual incomes

3.Reintroduces wealth tax and capital gains tax, albeit at lower levels:securities transaction tax (STT) is scrapped, capital gains tax unified to one in the long and short term and wealth tax reduced to 0.25 per cent from one per cent with an increase in limit to Rs 50 crore.

4.Scope of income tax expanded to include value of perks, gifts, profit in lieu of salary and capital gains but excludes farm income

5.Removal of most exemptions

6.All long-term savings to come under EET

7.Tax exemption to PPF and other pension schemes on withdrawals accumulated up to March 31, 2011.

8.The code proposes to abolish STT.

9.Wealth to be taxed on net basis; Amount in excess of Rs500mn to be taxed at 0.25%
Moves the base year for calculation of capital gains tax to April 2000

10.Dividend will continue to be tax-free in the hands of investors
Effective corporate tax rate at 25% with no surcharge or cess

11.MAT to be levied on gross assets as against book profits now
MAT to be 0.25% for banking and 2% for others
MAT carry forward to be disallowed

12.Business losses to be carried forward indefinitely

13.No tax deduction on interest payable on any government security

14.Wealth tax liability to be discharged by payment of prepaid taxes

15.Rationalization of taxes for all non-profit organizations

16.Annual disclosure of profits of non-life insurance businesses

17.Govt may enter overseas agreements for double taxation avoidance

18.No tax deduction on interest payable to banking firms and insurerance companies.

Download full tax code bill 2009

http://finmin.nic.in/DTCode/Direct%20Taxes%20Code%20Bill%202009.pdf

L & T FINANCE NCD DETAILS

Investment Details

Options I II III IV Interest Payment Quarterly Semi - annual Cummulative Semi - annual Min Application (Rs) Rs 10,000 /- (Retail) Rs 10,100 /- (HNI) Rs 10,000 /- (Retail) Rs 10,100 /- (HNI) Rs 10,000 /- (Retail) Rs 10,100 /- (HNI) Rs 10,000 /- (Retail) Rs 10,100 /- (HNI) Face Value Rs 1,000 /- Rs 1,000 /- Rs 1,000 /- Rs 1,000 /- Multiples Rs 1,000 /- Rs 1,000 /- Rs 1,000 /- Rs 1,000 /- Coupon Rate 9.51% p.a. 9.62% p.a 9.95% Compounded annually 10.24% p.a Yield on Redemption 9.85% 9.85% 9.95% 10.50% Tenure 60 months 60 months 88 months 120 months Redemption Date / Maturity Period 60 months from the deemed date of allotment. 60 months from the deemed date of allotment. 88 months from the deemed date of allotment. 120 months from the deemed date of allotment. Redemption Amount Face value plus any interest that may have accrued payable on redemption. Face value plus any interest that may have accrued payable on redemption. Rs.2,005/- per NCD Face value plus any interest that may have accrued payable on redemption.

Issue: 50,00,000 NCDs of Rs.1,000/- each aggregating to Rs.500 Crores with an option to retain over-subscription upto Rs.500 Crores for issuance of additional NCDs, aggregating upto a total of Rs.1,000 Crores.

Stock Exchanges proposed for listing: NSE. Issuance and trading In Demat form only. Depository NSDL and CDSL. Rating(s) CARE AA+ by CARE and LAA+ by ICRA.

Issue Schedule – 18th August’09 – 4th September’09 Deemed Date of Allotment Deemed date of allotment shall be the date of issue of the letter of allotment. Min. Application Money Rs. 10,000 and in multiples of Re. 1,000 thereafter. Interest Payment Quarterly Option, Semi-annual Option, Cumulative Option, Semi-annual Option. Tenor 60 months, 91 months, 120 months respectively. RECOMMENDATION:- APPLY