I have a joint account with my wife under the Senior Citizen Savings Scheme. Can my wife, who is also a senior citizen, deposit some amount separately in her name under the same scheme jointly with me?

Basudeb Sarkar, email

Section 3(2) of the Senior Citizens Savings Scheme Rules, 2004, states that a depositor may operate more than one account under these rules, subject to the condition that the deposits in all accounts taken together does not exceed Rs 15 lakh. The investment in an SCSS account is attributable to the first holder. So, your wife can open another SCSS account.

Capital gains

I have recently sold some shares and made some long-term capital gains. How should I disclose it in tax return?

J.K. Dutta, email

If you are a resident individual who does not have any income from business or profession, you can file ITR 2. For capital gains on equity shares or units of equity oriented mutual funds where STT is already paid, you will have fill up Part B subsection 4 of Schedule CG in ITR2. You will have to mention the sale value and the cost of acquisition after applying for the necessary adjustments for fair market value as on January 31, 2018.

Stock metrics

What is the difference between P/E and P/B ratio?

A. C. Chakraborty, Calcutta

P/E (price-to-earnings ratio) is the ratio of the company’s share price to the earnings per share. A higher P/E signifies that expectations from these shares are higher or the stock is overvalued. On the other hand, P/B (price-to-book value ratio) is used to compare a stock’s market value to its book value (book value=asset minus liabilities). A lower P/B could mean that the stock is undervalued.

If you have any queries about investing or taxes or a high-cost purchase you are planing, mail to: btgraph@abp.in, or write to: Business Telegraph, 6 Prafulla Sarkar Street, Calcutta 700 001.