Stock discussions

[Konebhar6]

6 hours ago, krishnaaa said:

It's overvalued now.

Long term is fine though

I logged into another account after a long time ... Sold most investments and kept a few ... I was surprised/shocked to see I am making 150% profit on Jaiprakash Power Ventures. IT was a -ve investment for a long time .. I bought for rs.6 .. it was rs.1 sometime back when I saw .. now rs.14.

Time to sell. Gives an impression stocks are getting overvalued. But frontline stocks are always good.

[Konebhar6]

See the performance of 5-Star MFs in India. Data is from moneycontrol.com. 

[Konebhar6]

But as an NRI, they do not allow us to buy MFs in india. 

[vkk]

On 12/10/2023 at 2:51 AM, Konebhar6 said:

But as an NRI, they do not allow us to buy MFs in india. 

But what about the tax implications? Investments in Indian mutual funds are PFI. In the US will you not be liable for taxes even on unrealised gains in an indian MF.

[yemdoing]

On 12/10/2023 at 1:50 AM, Konebhar6 said:

See the performance of 5-Star MFs in India. Data is from moneycontrol.com. 

I feel indian stock market is highly manipulated

[Konebhar6]

34 minutes ago, yemdoing said:

I feel indian stock market is highly manipulated

I feel the same way. Corporate governance is really bad.

[Konebhar6]

2 hours ago, vkk said:

But what about the tax implications? Investments in Indian mutual funds are PFI. In the US will you not be liable for taxes even on unrealised gains in an indian MF.

Tax deduction at source. When you sell they cut 30% tax right away. Even on dividends.

[vkk]

13 minutes ago, Konebhar6 said:

Tax deduction at source. When you sell they cut 30% tax right away. Even on dividends.

In India, TDS comes into picture, when gains are realized. There are situations where a US bases  NRI will liable for paying taxes in the US, on unrealized gains from an Indian MF. Check this link out below for PFIC rules. this is the extent of my knowledge on this topic though.

https://arthgyaan.com/blog/should-us-based-nris-sell-off-their-mutual-funds-and-stocks-in-india.html

 

[Vaaaampire]

I dint do any trading in india. A friend of mine did explore 1-2 years back. As per him, its not worth investing as an nri because of tax and other complications. Parents peru meedha account open chesi trading cheyyadam better. Profits vasthey gift money ga thechukovachu. It has its own side effects if ur siblings/parents could cause any issues. 
 

[Vaaaampire]

1 hour ago, Konebhar6 said:

Tax deduction at source. When you sell they cut 30% tax right away. Even on dividends.

Long term short term aney concept unda india lo? 
30% cut right away is deal breaker for me. Loss vasthey tax filing varaku wait cheyyali. Profit vasthey straight away antey survive avvadam kastam

[Konebhar6]

1 hour ago, Vaaaampire said:

Long term short term aney concept unda india lo? 
30% cut right away is deal breaker for me. Loss vasthey tax filing varaku wait cheyyali. Profit vasthey straight away antey survive avvadam kastam

Dividends ayithe ... direct ga 30% cut chesi istunnaru. Same with any interest you accrue in banks paid quarterly.

Stocks okappudu different tax brackets undedi .. 10%, 20% and even 0% for gains after 3 yrs. Looks like its only 2 brackets now. 15% short term (<1yr) and 10% (>1 yr). @vkk You are correct that taxes need to be paid in India after stocks are sold. Or you need to file in returns in USA. Its a bit complicated.

I have had some losses too. So usually I sell the stocks that are in profits + the ones in losses. 

I used to have accounts on parents name. But they are getting old and for them to file taxes every year is a burden. Our tax accounting guy had user name/passwords of all my dad accounts so that he can download necessary forms and file taxes. That kinda scared me. Removed all accounts now.

[Konebhar6]

2 hours ago, Konebhar6 said:

Tax deduction at source. When you sell they cut 30% tax right away. Even on dividends.

I may be wrong on my statement on Tax deduction at source when stocks are sold. I have to go back and check. But I am sure on Dividends and Interest accrued on money in savings accounts.

[nvssr]

I booked some profits today - oka 6k undi - I did swing trade for AMD bought for 104 and sold for 130. Ela evarina chesthunnara? any other stocks worth watching?

[TKWQ]

2 hours ago, nvssr said:

I booked some profits today - oka 6k undi - I did swing trade for AMD bought for 104 and sold for 130. Ela evarina chesthunnara? any other stocks worth watching?

T and VZ have been on the upswing last two weeks or so. But with telecom stocks you never know. I have been doing DCA into these two.

[krishnaaa]

What do you guys think about 2024 US stock market?