JINS Community

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Blue Whale
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Re: JINS Community

Postby Blue Whale » Tue Mar 13, 2018 9:27 am

lukedesilva wrote:JINS would have good the best possible opinion, who wants to donate big money. Since there was no mention of WHT I dont think there will be.

Nope. I have the share buyback letter and it has a specific printed statement on this WHT. That's my worry.
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Re: JINS Community

Postby lukedesilva » Tue Mar 13, 2018 9:43 am

So its say the proceeds will be subjected to WHT. Am I right

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Re: JINS Community

Postby _MAHESH_ » Tue Mar 13, 2018 9:47 am

you are correct. i Checked again.. and share buy backs are considered as dividend payments in the inland revenue act. therefore WHT at 10% is applicable... what i found out is that base price of the share (last traded) is taken as 31.90. So 10% of the price appreciation from 31.90 to 36.70 is taxable at 10%. Not the total Repurchase Consideration.

(not sure how 31.90 is taken exactly. my broker said its the last traded price prior to announcement)

If this is accurate.. no worries.

Can someone else also confirm this?

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Re: JINS Community

Postby lukedesilva » Tue Mar 13, 2018 9:53 am

Mahesh, Can you share the IR Act reference please.

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Re: JINS Community

Postby _MAHESH_ » Tue Mar 13, 2018 10:02 am

Inland Rev Act No 24, 2017

Chapter XX - Interpretations

“dividend”–
(a) means a payment derived by a member from a
company, whether received as a division of
profits, in the course of a liquidation or
reconstruction, in a reduction of capital or share
buy-back or otherwise;

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Re: JINS Community

Postby SHARK » Tue Mar 13, 2018 10:07 am

welcome mahesh :) to TEC.
Price is what you pay. Value is what you get.”

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Re: JINS Community

Postby _MAHESH_ » Tue Mar 13, 2018 10:09 am

thanks u shark :-h

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Re: JINS Community

Postby lukedesilva » Tue Mar 13, 2018 10:11 am

Thanks mate , yes i too had a look . As far I could see there is no provision to break it down to capital and profits/gain. If that's the case full proceeds would be liable.

Am not an expert. May be am wrong.

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Re: JINS Community

Postby Blue Whale » Tue Mar 13, 2018 10:11 am

Thanks Mahesh. We always love to have members like you who can always add some color to TEC. Welcome mate. :ymhug:
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Re: JINS Community

Postby Thilee » Tue Mar 13, 2018 11:05 am

Hi Guys,

May be a stupid question; but I am still figuring out all about the system. Can you please anyone of you let me know, as an assistance, what are things we need to consider before deciding if we can sell my jins stock at offered price or I still need to keep them (not to sell even one share) for further investment.

Thanks

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Re: JINS Community

Postby Blue Whale » Tue Mar 13, 2018 2:46 pm

This is the IRA interpretation of tax on dividend

Dividend.png


According to part C the tax will be for the portion between the company giving back to shareholders and what the member paid to the company. I am not sure how much they will be considering as payment made by the member to company and if it is the last closing price on which the member will be entitled for repurchase then that price will be 30.70. Accordingly the WHT will be (36.7-30.7)*10%. That will be a transaction cost of 1.63% compared to the normal market transaction cost of 1.12%.
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Re: JINS Community

Postby sashimaal » Tue Mar 13, 2018 3:32 pm

How about for the price difference between the buy back price and the day ending share price when passing of buy-back resolution at EGM?


Blue Whale wrote:This is the IRA interpretation of tax on dividend

Dividend.png

According to part C the tax will be for the portion between the company giving back to shareholders and what the member paid to the company. I am not sure how much they will be considering as payment made by the member to company and if it is the last closing price on which the member will be entitled for repurchase then that price will be 30.70. Accordingly the WHT will be (36.7-30.7)*10%. That will be a transaction cost of 1.63% compared to the normal market transaction cost of 1.12%.
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Re: JINS Community

Postby Blue Whale » Tue Mar 13, 2018 5:02 pm

sashimaal wrote:How about for the price difference between the buy back price and the day ending share price when passing of buy-back resolution at EGM?


Blue Whale wrote:This is the IRA interpretation of tax on dividend

Dividend.png

According to part C the tax will be for the portion between the company giving back to shareholders and what the member paid to the company. I am not sure how much they will be considering as payment made by the member to company and if it is the last closing price on which the member will be entitled for repurchase then that price will be 30.70. Accordingly the WHT will be (36.7-30.7)*10%. That will be a transaction cost of 1.63% compared to the normal market transaction cost of 1.12%.


That is something I don't know exactly to comment. Just I can estimate only.
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Re: JINS Community

Postby lukedesilva » Tue Mar 13, 2018 5:16 pm

Could you consider market price as money paid to the company ?

Isn't that the price traded among members ?

Then it is the original subscription price adjusted for all the rights / splits etc.

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Re: JINS Community

Postby Blue Whale » Tue Mar 13, 2018 8:41 pm

Here what will be considered as market price is the money investor paid to be entitled for the consideration from the company. :-bd
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Re: JINS Community

Postby Hi » Wed Mar 14, 2018 11:04 pm

I see lot of trades at the price of Rs. 26/50. Does anyone know the reason???

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Re: JINS Community

Postby Blue Whale » Thu Mar 15, 2018 7:11 am

Trading
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Re: JINS Community

Postby indi009 » Thu Mar 15, 2018 10:19 pm

Guys I think JINS game is still ON. I'm not referring about the technical side but just think.
The shares dropped to 23 levels and gradually increasing now it's 27
Normally they announce a dividend on March. Still hasn't made the announcement.
Still waiting for the approval from the Insurance Board.

So all these are positive news pending if someone wants to move the share to 30 levels

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Re: JINS Community

Postby Blue Whale » Thu Mar 15, 2018 10:44 pm

indi009 wrote:Guys I think JINS game is still ON. I'm not referring about the technical side but just think.
The shares dropped to 23 levels and gradually increasing now it's 27
Normally they announce a dividend on March. Still hasn't made the announcement.
Still waiting for the approval from the Insurance Board.

So all these are positive news pending if someone wants to move the share to 30 levels


The chances are higher for this scenario. Also de remember that this share now worth 25-26 rupees after the restructure. You can refer my earlier calculations above this thread.
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Re: JINS Community

Postby iF1985 JUNIOR » Fri Mar 16, 2018 11:40 am

Jin's seems very strong at this level. ;;)
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Re: JINS Community

Postby Blue Whale » Mon Mar 19, 2018 9:57 am

Friday there was a huge interest @ 27. Today too good interest @ 27. Wonder whether this is another consolidation before testing 30s again :-?
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Re: JINS Community

Postby dhanurrox » Tue Mar 20, 2018 4:35 pm

Announcement there

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Re: JINS Community

Postby indi009 » Tue Mar 20, 2018 4:36 pm

Wonder whether they will play the share tomorrow.

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Re: JINS Community

Postby Blue Whale » Tue Mar 20, 2018 6:17 pm

So the approval by Insurance Board has been given. This will clear some of the issues had on shareholders' minds.
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Re: JINS Community

Postby Edmond » Tue Mar 20, 2018 8:39 pm

dhanurrox wrote:Announcement there


What will be the effect with this announcement.

Recently noticed aggressive buying with good quantity towards Rs.27 & then after someone/party put a big sell order@27.

Disc-Holding.


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