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Anand Kalyanaraman

Staff Writer • India Edition

A certified Chartered Accountant, Anand chose to pack the power of numbers with words when he left a career of seven years in accounting, putting together MIS reports, and investment research to enter journalism. Before joining The Ken, Anand was Deputy Editor at The Hindu BusinessLine, a newspaper he worked at for 11 years.

50 Articles published

Top Comments by Anand Kalyanaraman

Why it’s time the government bit the bullet on simplifying capital-gains tax

Thanks Sehej. For most listed debt securities, the holding period is 12 months to qualify as long-term. This is similar to listed equity stocks. The LTCG tax rate for such listed debt securities is also the same as listed equity stocks - 10% without indexation. The difference though is that while there is an exemption of Rs 1 lakh on LTCG of listed equity shares, this benefit is not available for listed debt securities. Also, for such listed debt securities, the STCG tax rate is the slab rate, while it is 15% for listed equity shares. When it comes to unlisted debt securities, the holding period is 36 months, different from the 24 months for unlisted equity shares. The tax rates are the same though for unlisted debt securities and unlisted equity shares - 20% with indexation for LTCG and slab rates for STCG.

Anand Kalyanaraman

The Tata wind beneath Tejas Networks’ wings carries investors away

Thanks Uday. I agree there is scope for growth in the company, especially with the Tata Group in charge. But it is a long-haul. Meanwhile, the stock's run-up and its valuation seem out of sync with the financial realities of the company. Even on a price-to-sales ratio, the valuation seems very costly. The company's sales will need to grow 15-16 times from current levels for valuations to be comparable with global peers. That will take quite some time, even with the BSNL deal. Also, how much of it will flow to profits needs to be seen. Guess, valuations is a matter of different perspectives. And different perspectives make the market :)

Anand Kalyanaraman

The tough-to-get $6 billion treasure trove of unclaimed shares and dividends for investors

Thanks Sanjeev. The link below explains how the issue is handled in a few countries. https://www.moneylife.in/article/use-global-practices-to-reunite-unclaimed-financial-assets-with-their-rightful-owners/68347.html How interest earned on unclaimed dividends is handled is unclear. From my understanding, it is not returned to the owner of the shares. It is likely retained in the Consolidated Fund of India, where the IEPFA maintains the dividend balances.

Anand Kalyanaraman

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