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When it comes to investing for your child, every parent has two aspects related to it- emotional and economical. It is very important to save for your child and make their future secure. There are various options available in the market where parents can invest money with a long term plan for their child. The two most convenient options are Public Provident Fund (PPF) and mutual funds. The investment in mutual funds can be through SIP or Systematic Investment Plan. However, there are certain pros and cons of both these financial schemes.

Public Provident Fund (PPF) 
Public Provident Fund or PPF is a government savings scheme and has a fixed return and the interest rate of the same is fixed by the government. A PPF account can be opened with both post office and with banks. The current interest rate on PPF is 8 per cent. The interest earned through PPF is also tax-free.

According to tax expert, Balwant Jain, it is best to invest in PPF if you are doing it at the later stage of your career, as this is risk-free and there is no chance that you can lose your money. “If someone is investing for their child at a later stage in life or after retirement, the PPF is the best option for them, There is risk related to it, and you know that your money is safe,” said Balwant Jain. 
[[{"fid":"70277","view_mode":"default","type":"media","link_text":null,"attributes":{"height":500,"width":732,"class":"media-element file-default"}}]]

(source:https://cleartax.in/s/ppf-calculator)

PPF has a lock-in period of 15 years and the tenure of a PPF account can be extended after 15 years in blocks of 5 years each. If one plans to invest Rs 10,000 per month in PPF for his/her child for 15 years at 8 per cent interest, the investor would get a return of Rs 35,18,914 after the tenure.

Systematic Investment Plan (SIP) 
Mutual Fund is one of the most popular investment options these days. It pools money from many investors in the market to purchase securities. All mutual funds are registered with SEBI (Securities Exchange Board of India). Considering the returns in recent times, investing in mutual funds has become one of the easiest means to grow wealth. With the introduction of SIP or Systematic Investment Plan, which is a method of investing in mutual funds, tthings have become easier. Using SIP, an investor can invest a fixed amount every month in a mutual fund.

According to Balwant Jain, if someone starts investing early in life for his/her child keeping a long term goal in mind, SIP is the best option one can avail for. “There is no risk in investing in SIP for a long term and it gives you a lump some return. If 15 years is the investment tenure, then SIP is the best option for investment for your child,” said Jain.

[[{"fid":"70280","view_mode":"default","type":"media","link_text":null,"attributes":{"height":559,"width":726,"class":"media-element file-default"}}]] 
(source: https://cleartax.in/s/mutual-fund-calculator) 
 
If you are investing Rs 10,000 per month in SIP at 20 per cent interest, then you are likely to get 1,11,56,999 after 15 years.

When it comes to investing for your child, every parent has two aspects related to it- emotional and economical. It is very important to save for your child and make their future secure.

&nbsp;


PPF vs Mutual Fund: Where to invest for 15 years, make your child crorepati

Public Provident Fund or PPF is one of the most popular savings options in India. The product comes with a maturity period of 15 years and is often considered safest among the traditional investors. PPF is very useful for accumulating long-term wealth and also offers tax benefits under Section 80C of the Income Tax Act (ITA). The interest earned through PPF is also tax-free. The government of India sets the interest rate every quarter and the current interest rate is 8 per cent. However, there are many doubts about this product that still bother the investors.

Among those, the most common question is whether an individual can open more than one PPF account with a single bank or with different banks! Hemant Rustagi, CEO, Wiseinvest Advisors told Zee Business Online that you can't. "We can only open one account with a single bank," he said.&nbsp;

The account holders even have to provide an undertaking at the time of opening the account which reads: "I hereby declare that I am not maintaining any other Public Provident Fund Account, except an account on behalf of a Minor."&nbsp;

What happens if a&nbsp;second account is opened by mistake? 
In case the account holder opens a second account, he or she will not get any interest on the amount deposited in it. Also, they will not be able to avail any tax benefits on it. "So there is no point in opening several PPF accounts as it will not give any tax benefits," Certified Financial Planner, Poonam Rungta told Zee Business Online.

Minimum and maximum transaction 
According to the rule, a PPF holder can do a minimum contribution of Rs 500 per year and maximum of Rs 1.5 lakh. One can also choose to deposit the money as lump sum or in installments, which must not exceed the limit of 12 installments per financial year.

Watch this Zee Business video here:

<blockquote class="twitter-tweet" data-lang="en">
<a href="https://twitter.com/hashtag/LIVE?src=hash&amp;ref_src=twsrc%5Etfw">#LIVE</a> | बाजार के हर कन्फ्यूजन का सॉल्यूशन जानिए <a href="https://twitter.com/hashtag/FinalTrade?src=hash&amp;ref_src=twsrc%5Etfw">#FinalTrade</a> में <a href="https://twitter.com/AnilSinghviZEE?ref_src=twsrc%5Etfw">@AnilSinghviZEE</a> और बाजार के दिग्गजों के साथ। <a href="https://t.co/eeH3k5ooXS">https://t.co/eeH3k5ooXS</a>
— Zee Business (@ZeeBusiness) <a href="https://twitter.com/ZeeBusiness/status/1082555074566545408?ref_src=twsrc%5Etfw">January 8, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Is joint ownership allowed? 
Joint ownership of a single account is not permitted. However, in case of a minor, it is allowed to open an account with a guardian, who has to be either mother or father, not both or court-appointed guardian. 
Tenure of PPF account

The tenure of a PPF account can be extended after 15 years in blocks of 5 years each. But the account holder must extend the tenure within one year of maturity. Again, the account holder can retain his/ her PPF account for any period of time after maturity without making any further deposits but will continue to earn interest on the balance amount. If the subscriber wants to withdraw the amount within the 5 years of the extension period, then only one withdrawal is possible not exceeding 60 per cent of the total amount.

The PPF account can be transferred from one branch to another or from one bank to another and from a post office to a bank and vice versa without any additional charge.

Public Provident Fund or PPF is one of the most popular savings options in India. The product comes with a maturity period of 15 years and is often considered safest among the traditional investors.


Public Provident Fund: Can an individual open PPF accounts in two different banks?

Medium Small and Minor enterprises contribute approximately 37% of India's GDP and is considered to be the backbone of the country's economy. After agriculture, this is the second largest employment generation sector of India. Let's have a look on how the sector has been impacted after the imposition of GST.&nbsp;

Negative Impact: While the MSMEs will enjoy the tax neutrality, reduction in duty threshold is one of their main concerns in warming up to the GST bill.&nbsp;&nbsp;

The burden of lower threshold: The GST bill proposes a reduction in the threshold to be Rs 9 lakh to increase the tax net, Rs 4 1akh for North-eastern states. However, GST council has increased the threshold limit from 10 lakh to 20 lakh and from 4 1akh to 10 lakh for North eastern states. Under the reform, any service provider or retailer will be subject to the tax levy. In the current central excise law threshold is Rs 1.5 crore. This reduction will significantly impact the MSMEs' working capital. For example, a manufacturer who trades today at Rs 25 lakhs without any tax levy will be expected to pay GST post-implementation. As the threshold is low, most MSMEs are now exempted and will have to pay a chunk of their capital towards tax in future. 
&nbsp; 
No tax differentiation for luxury items and services: The tax neutrality will not differentiate luxury goods and normal goods. Currently, the state and central government levy higher taxes on luxury goods and services. Under GST implementation, all goods and services will have to pay the same tax which will lead to rich becoming richer and poor becoming poorer. It is not an ideal situation for MSMEs competing against large businesses.

Selective tax levying: GST will not be applicable to Alcoholic liquor for human consumption and Petroleum based businesses, which creates further gap and does not support the 'unified market' ideology of GST.

The burden of the higher tax rate for Service Provider: Presently Service Tax rate is 15%. GST rate will be around 18%. The scenario in the service sector will further be impacted as the concept of Centralised Registration has been done away with and each unit in different states will have to take separate registration. Thus even if services are supplied by company's one Unit in State A to another Unit in State B, then also taxes will be payable.

Excess Working Capital Requirement: Taxation of stock transfer will primarily impact the working capital requirements. The quantum of impact will vary depending on stock turnaround time at warehouse, credit cycle to the customer, quantum of stock transfer, etc. Higher amount of Capital Requirement Jill increase interest cost which ultimately will increase the price of Finished Goods.

Realignment of Purchase and Supply Chain: Under GST credit will not be available to a compliant company if the vendor from whom MSME is purchasing goods does not show the same in his return. Thus sourcing strategies will change on account of GST credit mechanism. Also, there will be re-consideration of Supply Chain on account of taxation of Stock Transfers.

Dual Control: In recent GST Council meeting, it was decided by the ministry that those assesses having turnover of less than Rs 1.5 crores will be assessed by state government and existing Service Tax assesses, irrespective of turnover will be assessed by Central government as there is lack of expertise with the State Government in relation to Service Tax matters. As a result of this, small traders dealing in both goods and services will have dual administrative control both by Centre and State.

Positive Impact: GST boosts the competitiveness of MSMEs. They will benefit as follows:

Starting business becomes easier: Currently, the Sales Tax department has various turnover slabs which require VAT registration. A business with multi-state operation in this case has to follow varied tax rules applicable to different states. This not only creates excess complication but also adds to procedural fees, due to which the price sensitive MSMEs will be burdened. Uniform GST will standardize the process.

Improved MSME market expansion: In the current system, big corporations procured goods based on MSME's locality in order to reduce overheads. Thus MSMEs limit their customers within the state as they will bear the ultimate burden of tax on interstate sales, reducing their customer base. With the implementation of GST, this will be nullified as tax credit will transfer irrespective of the location of buyer and seller. This allows MSME segment to expand their reach across borders.

Lower logistical overheads: As GST is tax neutral it will eliminate time-consuming border tax procedures and toll check posts and encourage the supply of goods across borders. Accordingly, the logistical cost for companies manufacturing bulk good will be reduced. Such costs can be crucial for the survival of MSMEs.

WATCH THIS ZEE BUSINESS VIDEO HERE

<iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="315" scrolling="no" src="https://www.youtube.com/embed/mLPqvVJARBs" width="100%"></iframe>

Aids MSMEs dealing in sales and services: GST will not distinguish between sales and services. This is good news for the MSMEs that deal with sales and services model of business, for them, the taxation is simplified and will be calculated on total.

Unified market: GST will allow flexibility in transfer of goods across states and reduce the cost of doing business, as the reform will cut down multiple taxes imposed by state and central government.

Purchase of Capital Goods: In the current system, only 50% of the input tax credit against purchase of Capital Goods is available in the year of purchase and the balance amount in subsequent years. Under GST regime, entire amount of input tax credit can be availed in the year of purchase itself. This will support "Make in India" campaign.

Medium Small and Minor enterprises contribute approximately 37% of India's GDP and&nbsp;is&nbsp;considered to be the backbone of the country's economy. After agriculture, this is the second largest employment generation sector of India


One year of GST: Positive, negative impact on MSMEs

The Goods and Services Tax (GST), which was rolled out on July 1, 2017, completes a year today. Several products that were initially added under the tax regime are no longer a part of it, again some of which were not under it have been added under GST in this past one year. Alongside, some items which used to a part of the higher tax bracket have been moved to the lower one also.&nbsp;&nbsp;

GST: A brief look&nbsp;

(i) Reduction in prices of goods and services due to the elimination of cascading

(ii) Uniform prices throughout the country

(iii) Transparency in the taxation system

(iv) Increase in employment opportunities

Single and transparent tax proportionate to the value of goods and services: Due to multiple indirect taxes being levied by the Centre and State, with incomplete or no input tax credits available at progressive stages of value addition, the cost of most goods and services in the country today are laden with many hidden taxes. Under GST, there would be only one tax from the manufacturer to the consumer, leading to a transparency of taxes paid to the final consumer.

Relief in overall tax burden: Because of efficiency gains and prevention of leakages, the overall tax burden on most commodities will come down, which will benefit consumers.&nbsp;

The main objective of the GST implementation in the country was to bring all the indirect taxes and services under one single integrated tax. Let's have a look on how it has affected the citizens of the country.

According to a survey by LocalCircles, only 21 per cent of the over 32,000 people in 215 districts of India said that their monthly household grocery bills had reduced after the GST implementation while 63 per cent disagreed on this count.

In the first poll, respondents were asked if their monthly household grocery bills had reduced due to GST which was implemented a year ago. "Only 21 per cent agreed while 63 per cent didn't. Sixteen per cent were unsure," the survey said.

In November 2017, the GST rate for restaurants was reduced from 18 per cent to five per cent. 28 per cent of the citizen said that after the implementation of GST the restaurant bill had come down, while 57 per cent said that it’s still the same. Another 15 per cent respondents were unsure on this count.

The survey said that only 15 per cent consumers felt that businesses were passing the benefits of Input Tax Credit under the GST regime to them. It said 61 per cent felt it was not happening while 24 per cent were not sure.

A total of 39 per cent respondents said that they have been charged GST on discounted price once or more while shopping online or in retail stores in the last three months. Twenty nine per cent said it had not happened to them while 32 per cent were not sure.

WATCH THIS ZEE BUSINESS VIDEO HERE:

<iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="315" scrolling="no" src="https://www.youtube.com/embed/8TIUp0BFwG8" width="100%"></iframe>

Impact on cost of services (mobile, movie tickets etc)

54 per cent said it had increased, 14 per cent said it had decreased, whereas 19 per cent said it was the same as before. A total of 13 per cent respondents said they were unsure.

On the other hand if, petrol and diesel are brought under GST, it will involve a peak tax rate of 28 per cent plus states getting to levy some tax, keeping the retail rates at almost the same level as they are currently, according to Bihar Deputy Chief Minister Sushil Kumar Modi. He, however, said it will take some time for states to get around to including petrol and diesel in the GST and the Council will take a final call on the timing.

&nbsp;

&nbsp;

&nbsp;

&nbsp;

&nbsp;

Single and transparent tax proportionate to the value of goods and services: Due to multiple indirect taxes being levied by the Centre and State, with incomplete or no input tax credits available at progressive stages of value addition, the cost of most goods and services in the country today are laden with many hidden taxes. Under GST, there would be only one tax from the manufacturer to the consumer, leading to a transparency of taxes paid to the final consumer.


One year of GST: Impact on common man

Online women fashion portal Voonik reached Ebitda profitability at a monthly level, co-founder and CEO Sujayath Ali said. 
&nbsp; 
In FY17, the company saw a burn of Rs 135 crore while the revenue was Rs 117 crore, and again in FY16 when its revenue was Rs 26 crore the burn was Rs 86 crore. 
&nbsp; 
Ali started Voonik with an aim to communize fashion through technology. From being bullied as a child for his dressing sense to running a profitable marketplace, Sujayath Ali has come a long way. 
&nbsp; 
An MBA in Technology and Finance from The Indian School of Business, Ali started Voonik in the year 2013 along with his partner&nbsp;Navaneetha Krishnan. He also&nbsp; holds a bachelor’s degree in Computer Science Engineering from Mepco Schlenk Engineering College. 
&nbsp; 
Ali participated in Bloomberg India’s ‘The Pitch 3.0’ along with 10 other entrepreneurs. He was declared the winner resulting in a funding worth Rs 2.5 crores from SeedFund. 
&nbsp; 
Sujayat started Voonik with a unique idea. He wondered how people would shop 20 years down the line. Then the idea of personal assistance struck his mind. 
&nbsp; 
Voonik is a platform that uses inputs such a body shape, skin tone, height and personal style and tastes to help customers choose the best possible product for them.&nbsp; 
&nbsp; 
The portal also advices of the accessories that would go with the outfit that the customers buy. 
&nbsp; 
Ali was earlier working with Amazon as the senior product manager in US. He left his job and moved back to India to start Voonik. 
&nbsp; 
The LinkedIn profile of Ali says that, the Voonik app was envisioned to be every woman's personal stylist. It has over 7 million registered users, with 5 million app downloads. It has over 15 lakh products from more than 6000 sellers.&nbsp;

In FY17, the company saw a burn of Rs 135 crore while the revenue was Rs 117 crore, and again in FY16 when its revenue was Rs 26 crore the burn was Rs 86 crore.


Sujayath Ali: The man behind Voonik

<blockquote>
 
Key Highlights:&nbsp;

<ul>
	<li>The year 2016-2017, saw the largest number of women employment under MGNREGA.</li>
	<li>Govt's move to push the Triple Talaq bill will certainly empower the women of minority class if it becomes a law.</li>
	<li>www.nari.nic.in&nbsp;has the details of 350 different schemes for women and will be updated from time to time.</li>
</ul>
</blockquote>

With Union Budget knocking at the door, government is expected to give more thrust on employment generation for women not only in urban areas but also in rural parts of the country. 
&nbsp; 
Modi government is consistently making efforts to empower women with introduction of several schemes in the past budgets. But still a lot needs to be done for the welfare and economic development of women population in the country poised to stand in the category of developed nations. 
&nbsp; 
On empowering women, the government's recent move to push the Triple Talaq bill will certainly empower the women of minority class if it becomes a law. 
&nbsp; 
On the other hand if the proposal of two days paid leave to women during menstruation gets an approval by the Modi government, this would be another leap towards the welfare of working women. 
&nbsp; 
According to a report by World Bank on labour force participation of women in India and as per the data by National Sample Survey Office (NSSO), the labour force participation of women in India had slipped drastically in the past 20 years. 
&nbsp; 
The year 2016-2017, however, saw the largest number of women employment under Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), which was introduced by the UPA government in 2006. 
&nbsp; 
Under this programme, a total number of 5.04 crore households have been provided employment in 138.64 lakh works and out of which 56 per cent work have been generated by women, according to a three year report card of the rural development ministry. 
&nbsp; 
The government till date has implemented a number of schemes to provide women with equal rights, legal aid, economic opportunities. However, there is a lack of awareness among women who often difficulties in accessing the benefits. 
&nbsp; 
In order to resolve this and to provide women with easy access to information about their rights and what are the benefits that they can avail, Union Minister for women and child development Maneka Gandhi has announced a new web portal.

<blockquote class="twitter-tweet" data-lang="en">
<a href="https://twitter.com/hashtag/NARI?src=hash&amp;ref_src=twsrc%5Etfw">#NARI</a> is a niche initiative by <a href="https://twitter.com/MinistryWCD?ref_src=twsrc%5Etfw">@MinistryWCD</a> to list down all the Centrally &amp; State Specific Schemes. The information will be updated on real-time basis: Smt. <a href="https://twitter.com/Manekagandhibjp?ref_src=twsrc%5Etfw">@Manekagandhibjp</a> <a href="https://t.co/li2X4d4GAQ">pic.twitter.com/li2X4d4GAQ</a>
— Ministry of WCD (@MinistryWCD) <a href="https://twitter.com/MinistryWCD/status/948084305774784512?ref_src=twsrc%5Etfw">January 2, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

By logging in to&nbsp;www.nari.nic.in, one can have all the information about the government's different programmes for women.The portal has the details of 350 different schemes for women and will be updated from time to time. 
&nbsp; 
In last year's budget allocation, the Women and Child Development Ministry received a nearly 26 per cent increase with the total money set aside climbing to Rs 22,095. 
&nbsp; 
An allocation of Rs 1.86 lakh crore has been made for various schemes for women and children across ministries as compared to Rs 1.56 lakh crore in last fiscal. 
&nbsp; 
Last year's budget gave the pregnant women and the lactating mother a substantial financial assistance. The allocation of funds for the Indira Gandhi Matritva Sahyog Yojana (IGMSY), Centre’s key maternity benefit programme for pregnant and lactating mothers, went upto Rs 21,000 crore in 2017-18 from Rs 400 crore in 2016-17.

On empowering women, the government's recent move to push the Triple Talaq bill will certainly empower the women of minority class if it becomes a law.


What women citizens expect from Modi govt's upcoming Budget

Disclaimer: This story is for informational purposes only and should not be taken as investment advice.

&nbsp;

Only three months are left for the financial year to end and this is the high time that you plan your tax savings. Let's have a look of some of the ways that can help you save your income tax. 
&nbsp; 
ELSS 
Invest in ELSS and save up to Rs 45,000 per year. ELSS or tax saving/planning mutual funds has the shortest mandatory lock-in period of 3 years and gives high returns that are tax-free and the investment options available under Section 80C. 
&nbsp; 
On the other hand, a Public Provident Fund (PPF) account is essentially a long-term (15 years) product. Even a National Savings Certificate (NSC) comes with a lock-in period of five years.&nbsp; 
&nbsp; 
One should not treat ELSS as the short term investment option but should invest in it for at least five to seven years. 
&nbsp; 
HRA 
A rented house can always reduce your tax even more. HRA is a component of every employee's salary structure but unlike the basic salary HRA is not entirely taxable. 
&nbsp; 
An employee can save tax through HRA as this component is deductible from the total income before coming to a taxable income.&nbsp; 
&nbsp; 
HRA is fully taxable if the employee is living in his own house, but if you are staying with your parents then you can claim the benefits by paying the rent to your parents. 
&nbsp; 
Medical Insurance 
Deduct up to Rs 30,000 in taxes for medical insurance premium payment of your spouse, children and parents. If your parents are senior citizen and you are paying the premium for them then you are eligible for an additional deduction of Rs 25,000. 
&nbsp; 
Under Section 80 D of the Income Tax Act, 1961, one is eligible for claiming tax relief after buying a health insurance. 
&nbsp; 
Children's Tuition Fees 
You can claim tax deduction under Section 80C on tuition fee for education of two children of up to Rs 1.5 lakh a year. 
&nbsp; 
Housing Loan 
Buying a new house? Your housing loan repayment will be eligible for tax saving. Under Section 24B, you are eligible for tax benefit if you are paying the interest for your housing loan. 
&nbsp; 
Only Rs 2 lakh as interest is allowed for deduction on housing loan in a financial year from your income. But if you are taking a home improvement loan then Rs 30,000 is allowed as the interest from your income. 
&nbsp; 
Some of the other expenditures allowed under Section 80C deduction are home loan principal payment, stamp duty and registration cost of the house at the purchase of house.&nbsp; 
&nbsp; 
Education Loan 
You can avail a tax deduction on the interest paid on your education loan. Under Section 80E, the interest paid on education loan is allowed as a deduction from your total income. However, the deduction is provided only for interest part of the EMI provided the loan is taken from any bank or financial institution or any approved charitable institutions.&nbsp; 
&nbsp; 
The loan should be taken to pursue higher studies within or outside India.

Only three months are left for the financial year to end and this is the high time that you plan your tax savings. Let's have a look of some of the ways that can help you save your income tax.


Know your options for tax savings as the financial year is coming to an end

<blockquote>
Key Highlights :

<ul>
	<li>Litecoin is a peer to peer cryptocurrency.</li>
	<li>The price of litecoin has climbed nearly 67 percent in the past week.</li>
	<li>Out of the total 84 billion litecoins, only a little more than 54 billion are in circulation.</li>
</ul>
</blockquote>

While there is a hue and cry over the astronomical growth of bitcoins all over the world, breaking through all price level, another cryptocurrency named litecoin also witnessed a meteoric rise in the past few days. 
&nbsp; 
Litecoin has surged over 5,700 per cent till December 12 on a year-to-date basis, whereas bitcoin has gained 1,550 per cent during the same period. 
&nbsp; 
The price of litecoin has leaped by one third on Monday, making the fourth-largest cryptocurrency to a new all-time high. Litecoin today touched $245.28 per coin at Bitfinex. 
&nbsp; 
What is Litecoin 
Litecoin is a peer to peer cryptocurrency released by former Google employee Charlie Lee on October 7, 2011. This cryptocurrency is very similar to that of bitcoin and the technical implementation of both the coins are almost similar. Like bitcoins, generation of litecoins is also done by mining. This digital currency&nbsp;uses advanced mathematics to keep funds and transactions secure and private.

The aggregate value of Litecoins experienced a 100 per cent leap within 24 hours in November 2013. Its market cap reached $1 billion in November 2013. 
&nbsp; 
The price of litecoin has climbed nearly 67 percent in the past week and its market cap is rapidly approaching $9 billion. 
&nbsp; 
There are total 84 billion Litecoins. With the Litecoin, you can send and receive payment anywhere in the world. 
&nbsp; 
The best thing about this digital currency is sender and receiver both have proof of accepting and sending payment. 
&nbsp; 
Litecoin vs Bitcoin 
Out of the total 84 billion litecoins, only a little more than 54 billion are in circulation. Unlike Bitcoin, once these 84 billion currency is circulated no more can be generated. 
&nbsp; 
Litecoin has a little recognition outside the industry unlike bitcoin and ethereum, the two cryptocurrencies that Coinbase currently supports. 
&nbsp; 
Since litecoins are availabe in the brokerage platform, it is seen that many new coinbased users are investing on this digital currency in small amounts as this is much cheaper than Bitcoin and ethereum. 
&nbsp; 
Market observers believe that the rise of litecoin is due to all the attention that the Bitcoin received over the past couple of weeks.

Meet the sibling of bitcoin enjoying meteoric rise

<blockquote>
Key highlights

<ul>
	<li>Bitcoin rocketed to a lifetime high well above $16,000.</li>
	<li>Bitcoins supply is limited to 21 million.</li>
	<li>There are 5,638,155 bitcoins in the 1,000 biggest wallets.</li>
</ul>
</blockquote>

The number of investors in India has outrun the supply of Bitcoins for which there is a mark-up of around 15-20 percent to the international price. 
&nbsp; 
Bitcoin has become the most talk of the town all over the world. Presently, it is the most popular cryptocurrency around the globe and it's applicants are growing at a fast pace witnessing its growth of around $2000 dollar with each passing day. 
&nbsp; 
Bitcoin rocketed to a lifetime high well above $16,000 on Thursday, after climbing some 67 percent over one week. Although it is a lot more risky in trading on Bitcoins as multiple thefts, hacks and scams are reported, the sharp increase in its value has attracted many investors. 
&nbsp; 
The number of users are doubling in every two-three months in India itself.

Bitcoins supply is limited to 21 million - a number that is expected to be reached around the year 2140. The number of investors in India has outrun the supply of Bitcoins for which there is a mark-up of around 15-20 percent to the international price. 
&nbsp; 
Because of forgotten passwords, accidental losses, owners forgetting about the coins or even dying, there are fewer number of bitcoins in circulation and accessible than the number of bitcoins mined. 
&nbsp; 
There are 5,638,155 bitcoins in the 1,000 biggest wallets, more than a third of all bitcoins which are in circulation. At the current rate this makes the 1,000 biggest wallet-holders worth a collective $87 billion.

<iframe allow="encrypted-media" allowfullscreen="" frameborder="0" gesture="media" height="315" scrolling="no" src="https://www.youtube.com/embed/gWC-jlyGiu0" width="100%"></iframe>&nbsp; 
Here are a few ways how you can buy and sell Bitcoins if you are from India: 
This cryptocurrency can only be purchased online and there are several online stores where you can do the transaction through digital wallets. The various Bitcoin exchanges that are available in India are Zebpay, Unicorn, Bitxoxo and Coinbase. 
&nbsp; 
All you have to do is to login to the website and select wallet based on features, coinbase etc. On the chosen platform through which you want to trade on this cryptocurrency, just select the wallet that the platform provides based on features and security. 
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After selecting the wallet, register yourself on the chosen portal and create your own account. The account helps you in getting a secure place to store your purchased bitcoin, an easy and reliable payment method to convert the local currency into bitcoin. 
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The portal will take you to the bitcoin exchange once you induct to purchase the cryptocurrency and will also give you the present rate at which you want to trade.

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Bitcoin rocketed to a lifetime high well above $16,000 on Thursday, after climbing some 67 percent over one week. Although it is a lot more risky in trading on Bitcoins as multiple thefts, hacks and scams are reported, the sharp increase in its value has attracted many investors.


How to transact on Bitcoin in India

Mark Summers, the British lawyer hired by India to fight the extradition case against liquor tycoon Vijay Mallya, is a specialist in all areas of extradition and mutual assistance, international law and criminal EU law. 
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Summers, known well for this technical knowledge and detailing, was previously Chair of the Extradition Lawyers' Association. He regularly advises and appears on behalf of individuals and foreign governments in UK and abroad. 
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Mark is consistently ranked by both Chambers and Partners and the Legal 500 as a leading silk in crime and extradition cases. 
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The Crown Prosecution service in London is representing the Indian government in court. 
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Vijay Mallya is accused of defaulting on loan amounting to Rs 9,000 crore from 17 different banks across India for his bankrupt Kingfisher Airlines. The Enforcement Directorate is also investigating in a second charge of money laundering. 
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A confidant of the judges, Summers,&nbsp;on Mallya's extradition hearing said that the loans were sanctioned by the banks on that basis of the business plan, that showed that the airline would turn profitable by 2011, despite the fact that it didn't turn out to be so at any point of time. 
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As a part of evidence against Mallya, India initially submitted a 2000 page dossier in the court. Another set of documents was later provided before the court for the charge of money laundering filed in October. 
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Vijay Mallya, who has been in the UK since 2016, has reportedly said that he would not come back to India.&nbsp;&nbsp;

Summers, known well for this technical knowledge and detailing, was previously Chair of the Extradition Lawyers' Association. He regularly advises and appears on behalf of individuals and foreign governments in UK and abroad.
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Moitreyee Ghosh