CA KAMAL GARG

1. Definitions Non-Resident Indian (NRI) - NRI means a person resident outside India who is a citizen of India or is a person of Indian origin.  Person of Indian Origin (PIO) -  PIO is a citizen of any country other than Bangladesh or Pakistan, if (a) he at any time held Indian passport; or (b) he or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or (c) the person is a spouse of an Indian citizen or a person referred to in sub-clause (a) or (b). Person resident Outside India -  A “person resident outside India” is a person who is not a resident in India.  Person resident in India - A person resident in India means  a person residing in India for more than one hundred and eighty- two days during the course of the preceding financial year subject to some conditions. 2. Eligibility (a) Any person resident outside India, may open and maintain NRO account with ...

Question 1.: Can I be a fundamental analyst? Answer: Of course you can be. It is a common misconception that only chartered accountants and professionals from a commerce background can be good fundamental analysts. This is not true at all. A fundamental analyst just adds 2 and 2 to ensure it sums up to 4.  To become a fundamental analyst you will need few basic skills : 1. Understanding the basic financial statements 2. Understand businesses with respect to the industry in which it operates 3. Basic arithmetic operations such as addition, subtraction, division, and multiplication The objective of this article on Fundamental Analysis is to ensure that you gain the first two skill sets. Question 2.: I am happy with Technical Analysis, so why bother about Fundamental Analysis? Answer: Technical Analysis helps you gain quick short term returns. It helps you time the market for a better entry and exit. However Technical Analysis is not an effective approach to create wealth. W...

We might be keeping our savings under the pillow or in the Gullak. But what happens?  We would always be worried about its safety. Someone may steal it or we may be tempted to use the money or others may borrow money from us.  Also money saved at home does not grow.  The best way to save is to deposit the money in a bank account. While small amounts can be kept in a Gullak, it is wiser to keep our savings in a bank as money kept in a bank is safe.  Apart from safety, banks pay us interest on our deposits, so our money grows in the bank. Banks can be classified into various types such as  Central Banks - Reserve Bank of India (RBI)  Commercial Banks - Public Sector, Private Sector, Foreign Banks and Regional Rural Banks Cooperative Banks RBI being the central bank is responsible for printing currency and managing money supply in the country. RBI also acts as a banker to the government and all other banks.  A commercial bank runs with the purpose of earn...