Further, there are provisions like publishing quarterly results of listed companies; nationalised banks’ annual accounts are published; various documents of public companies are open for public inspection on the Registrar of Companies’ portal, so in public interest, why should the annual income and wealth tax returns of all politicians and political parties not be published in various newspapers and be made available on Internet (websites)?
If the government can waive loans to poor farmers in order to win votes in the
forthcoming elections, then why not spare small assessees who pay taxes and
file returns from scrutiny? I am sure it will add more votes for the ruling
party.
M Kumar, New Delhi, by email
TRIAL TRADING
We wish you all the best and urge you to remember that price is the key
factor in buying even the best stocks. As for the online brokerage firm, we
would prefer to make a formal recommendation only when we can evolve objective
criteria to evaluate the firms. You could go with any of big firms which have a
reputation to protect. -- Editor
GOOD BUT EXPENSIVE
INVESTMENT ADVICE
IT (DEPARTMENT) USE IT (INFORMATION TECHNOLOGY)
STOCK ANALYSES
EXPRESS-NO WAY
Marigold Magic
We have forwarded your letter to Mr Dhar and he would be replying to you
directly. -- Editor
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I have been reading MoneyLIFE for over a
year now and your unbiased methodical stock-picking along with your last
year’s report card where MoneyLIFE recommendations have outperformed the
best of mutual funds returns has given me the courage and confidence to enter
the market and benefit from it. I am a housewife based in Vishakapatnam. Kindly
advise which online broker or bank’s services should I avail for
trustworthy trading as I have read cases where even ICICIdirect showed
irresponsible and rude behaviour when one of its customers desperately wanted
to sell his shares online but couldn’t due to a technical fault with
ICICI website and had to suffer a loss. But ICICI Bank was unwilling to accept
its fault. There are also cases where a broker sells/buys shares without the
customer’s permission; this keeps small investors like me away from the
market. Nevertheless, I have decided to enter the market cxclusively based on
MoneyLIFE’s recommendations and guidance. I want to start with short-term
trading with a sum of Rs50,000 and will subscribe for Cheetah - your short-term
momentum stock letter for trading and gradually save and invest for medium- to
long-term with Antelope and Lion. Please help me get started.
Ms F Omar, Vishakapatnam, by
email
For the first time, I bought a copy of
MoneyLIFE (issue dated 8 May 2008) and found it good, though expensive at a
cover price of Rs25. It is good that you have a respected personality like Ms
Sucheta Dalal actively involved with the publication.
V Vijaykumar, by email
I am a regular reader of MoneyLIFE. I rate
your magazine among the best of all personal finance magazines available in
India. While reading ML some questions do crop up in mind. You always advise
that one should sell a stock as soon as it falls 20% from its price. Similarly,
I also want to know what will be the bullish signs to enter a stock. Only a
single factor of 20% fall is enough to get out of stock. I think perhaps we
need many tools to be bullish to enter a stock for which I depend on your
columns like Street Beat, Cover Stories and Stockgrader. One is always on the
lookout for bargains during a bearish phase or severe crisis. I want you to
give a list of stocks which have always stood the test of the time. You can say
evergreen stocks which one should hold in one’s core portfolio. Or is it
that one should always wait for price strength however strong the company may
be. Lastly, I would like you to do an article on MNCs in all industries,
particularly pharma companies like Glaxo.
Anil Malhotra, by email
Refer to ‘Stand Up and Fight’
(MoneyLIFE, 5 June 2008). In view of the Right to Information Act and for the
convenience of tax-payers, especially those who have claimed refunds but not
received them, I suggest that the status of all IT returns filed must be put on
website of the income tax department. Details of refunds sent by the tax
department and those that have been returned undelivered in the past five
years, up to the assessment year 2007-08 must also be posted on the IT
department’s website. Since refunds are now sent through ECS, the list of
refunds should be put on the website each month so that an assessee whose
account is not credited for any reason can contact the department by email and
does not need to visit the office personally. If electronic filing is
mandatory, electronic querying must also be possible since it will save
everybody’s time. The status of IT and wealth tax returns searchable by
PAN must be available on the Net. People who have quoted wrong PAN numbers by
mistake must be allowed to rectify the error by contacting them on email.
Mahesh Kapasi, New Delhi, by
email
Your new issue is terrific. Murli
Industries and Technocraft are small companies turning into EBITDA of Rs115
crore. So definitely they ought to get the market’s attention. I am
happy to see Omnitech in your recommended list. I love it. Zenith Infotech is
also somewhat similar. In MoneyLIFE (22 May 2008), you covered Ankur Drugs.
Please also try to give your views on J Kumar, Astral Poly, Diamond Power and
Mercator Lines. All these are future winners. You are shuffling the portfolio
quite often; that is a good practice. In the next few months, inflation and
crude oil will calm down and that will provide a great opportunity. We like
Bhagwati Banquets very much and it figures in your list quite often as does
Brigade. When I read the first letter in your letters section last time, I was
reminded of my introduction to MoneyLIFE more than a year back. Our family is
growing. That is nice. Keep it up.
Santosh Mhamunkar, by email
I refer to ‘Slow Lane’ (MoneyLIFE,
22 May 2008). It is really sad that despite paying a hefty sum as toll for
using the Expressway, if commuters are harassed and do not get blockage and
traffic jam-free ride to their destination, then it does not make sense for
operators to charge that sum. Infrastructure is critical in the overall growth
of the country and such expressways should set high standards for others to
follow.
Bal Govind, Bareilly, by email
I came across the article written by Raghu
Nandan Dhar in MoneyLIFE (5 June 2008). He had written about the Marigold and
Dr Ajay Pendse of Prabhadevi in Mumbai who was extracting Beta Carotene from
the marigold flowers. I want the address of Dr Ajay Pendse from Mr Dhar, so
that I can write to him about his business and get more information about it.
Your rticle is very interesting and I thank Mr Dhar and MoneyLIFE both, for the
information. I am a regular subscriber of MoneyLIFE and read every article in
every issue. More such articles are awaited.
M V Thakurdesai
At/Post-Shiposhi, Dist - Ratnagiri, Pin-415802;
Phone - 02351-234022
Just got back from a vacation in Goa and
while I was rather tickled to see my email printed prominently in your 22nd May
issue. However the first para should have read: “ ... they said that the
Rs 38 Cr profit in their results till date” instead of “loss”. In editing
the letter to add clarity, you have inserted an error; fortunately, the rest of
the letter however makes the picture clear, so there is no major damage done.
So often the best of intentions come to naught.
Bosco Menezes, by email
MoneyLIFE offers its readers a unique
service -- of helping redress individual grievances on a best-effort basis.
However, we have limited resources to devote to this effort and can only pursue
complaints that come to us by email. We request readers to please send us crisp
complaints with all the facts on email (not as an attachment) and send us the
supporting documents only if we ask for them. We cannot handle physical
letters. -- Editor
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