Big Story | All you need to know about filing I-T return

Big Story | All you need to know about filing I-T return

The last date for tax filing is just a month away. Here’s a guide to save the stress and the last minute rush This year, Americans’ access to health care took the spotlight like never before.Since March, more than 250,000 people infected by the coronavirus have died and millions more have lost their health insurance in the economic crisis caused by the pandemic.During the presidential campaign, both President Donald Trump and President-elect Joe Biden promised much to address these health and economic issues, sparring on how best to provide Americans access to health care. Central to both of their arguments remained a decade-old law: the Affordable Care Act — landmark health care legislation that showed its continued significance during this particularly difficult year.Trump wanted to dismantle it, while consistently promising a replacement plan that never materialized, and Biden promised to build on the current law with hopes of offering a public option.”Healthcare is the kitchen table issue for most Americans, both because of cost, and because of what it means to go through life without coverage,” said Leslie Dach, a former senior counselor at the Department of Health and Human Services during the Obama administration.”We are now at a time this year when people needed the ACA more than ever, and years of studies have shown how its coverage has positive impact on people’s health, life expectancy and the ability to get a job,” added Dach, the founder of Protect Our Care, a liberal group aimed at protecting the law. “And yet for purely partisan or ideological reasons, people are trying to take it apart.”Those efforts haven’t been particularly fruitful.’A big safety net during the pandemic’A little more than 10 years after the law known as Obamacare was passed, the landmark health care legislation has survived numerous attacks under the Trump administration and appears to be deeply embedded in the nation’s health care system. The effect it has had during this difficult year — whether in politics, policy or at the kitchen table — is hard to dispute.Though it is currently difficult to know exactly how many people remain without their health insurance because of the current economic crisis, between February and June approximately 14.6 million people — workers and their dependents — were affected by job losses that also resulted in losing employee-sponsored health insurance, an estimate by the Commonwealth Fund concluded.In states that passed Medicaid expansion, the Affordable Care Act helped shore up some of those losses, particularly as rolls for the public health insurance option for low-income people have ballooned this year.Other people have found options through the plans offered by the ACA or received coverage from a spouse or parent, COBRA, short-term health plans or just gone without.The exact number of people who lost insurance in 2020 will remain unknown until late next year. The Congressional Budget Office released a report in September looking at the amount of people who were uninsured in 2019 — 30 million — and they estimated that the number could jump by 1 million people because of the pandemic.RelatedThey concluded, however, that the situation may have been worse if not for the options offered through the ACA and the ways the law expanded Medicaid.”In a lot of states, it didn’t matter how poor you were or how much income you lost, you still might not have qualified for Medicaid before the ACA existed,” said Cynthia Cox, the vice president of the Kaiser Family Foundation and director of its ACA program. “So the Medicaid program has been a big safety net during the pandemic and its economic turmoil and everything that’s occurred as a result.”The law has also appeared to remain quite durable, despite it effectively losing the individual mandate, which required all Americans to sign up for health insurance or face a costly tax penalty. Trump used a 2017 tax bill to make the penalty for violating the individual mandate $0.The Supreme Court could still decide to strike down part or all of the law next year, but many believe that is unlikely after justices listened to oral arguments earlier this month.It appears Trump will exit office without fulfilling his promise to “repeal and replace” — or even just “repeal” — Obamacare.The reason the law was impossible or extremely difficult to dismantle, many experts said, is because it is so deeply baked within the American health care system. So much so that it would be difficult for consumers and insurers to imagine the health care landscape after it was gone.”Everyone talks about Obamacare as if it’s a thing, an object, like you can point to the Obamacare part of the federal government or federal budget, but it’s not like that,” said Chris Pope, a senior fellow focused on the ACA and entitlement reform at the Manhattan Institute, a conservative think tank. “The Affordable Care Act tinkered with federal statutes in a 1,000 different places, many of which have since changed. There are new laws that depend on it. So you can’t just strike it down.”The law has also hit its peak popularity this year since its passage in 2010 with 55 percent of Americans saying they view the ACA favorably, according to the Kaiser Family Foundation. Experts credit the growing favorability to Trump’s threat of removing it without a clear plan to replace it.There’s a very good chance that people who are uninsured now could actually be getting covered for free. But they would need to act quickly.Cynthia CoxTrump attempted to damage the law by cutting the marketing budget for open enrollment and outreach by 90 percent, according to the Kaiser Family Foundation.Cox said many may not know that they are currently eligible for health insurance through the ACA as a result, or that they can currently sign up for coverage until Dec. 15.”Four out of 10 uninsured people are eligible for free coverage, either Medicaid or a zero premium bronze plan,” she said, referring to a plan offered through the ACA. “So there’s a very good chance that people who are uninsured now could actually be getting covered for free. But they would need to act quickly.”Is ‘Bidencare’ next?Biden said he has big plans to build on top of the law so that others can gain access to health care. It may be a challenge for him to do much in Congress, however, as both chambers face small margins in either direction for party control.While the former vice president said he planned to roll out a public option that he has called “Bidencare,” few believe that he will be able to convince Republicans to buy into a plan like that.It is more likely he will instead try to undo some of the Trump administration’s efforts to undercut the ACA while also looking at ways to entice the dozen states that have refused to expand Medicaid.The impasse is chiefly due to Republican-controlled state governments that declined the largely free federal funding to expand Medicaid for ideological reasons around fiscal spending and because of its connection to the Obama administration.But Benjamin Sommers, a professor of Health Policy and Economics at the Harvard T.H. Chan School of Public Health, said these states are forgoing an economic boon offered by the federal government.States did not have to cut any programs and saw huge amounts of economic benefit when they decided to expand, he concluded in a June analysis published in the New England Journal of Medicine.Related”It’s a win for the state budget and clearly for the patients,” he said. “And when you take all that together, what you can see is that Medicaid is not only a public health investment during a pandemic, but it’s also a form of stimulus for the local and state economies.”While 12 states continue to refuse Medicaid expansion that would likely provide health insurance to 2 million people, voters in Missouri and Oklahoma — both considered conservative states — elected to take on the option via ballot initiative this year, appearing to prove that elements of the ACA are universally popular.Biden is expected to try to find ways to encourage the remaining 12 states to sign on to expansion, which would largely benefit members of the working poor, but it could take some time.Pope said it is inevitable that the states will sign up eventually. He noted that it took nearly 20 years for all states to adopt Medicaid after Lyndon B. Johnson signed it into law as part of his “War on Poverty.””From a state point of view, it’s a pretty good deal,” Pope said. “They get $9 from the federal government for every dollar they spend themselves. So I think everyone kind of assumes that they’ll eventually take it, but the question is: to what extent will the Democratic House, the Biden administration and an evenly divided Senate put some extra money on the table to move the needle in that direction?” Source link Janney Montgomery Scott LLC grew its holdings in Eaton Vance Municipal Income Trust (NYSE:EVN) by 37.6% during the 3rd quarter, Holdings Channel reports. The fund owned 39,907 shares of the investment management company’s stock after buying an additional 10,906 shares during the period. Janney Montgomery Scott LLC’s holdings in Eaton Vance Municipal Income Trust were […]

If you are giving yourself reasons to procrastinate the work on your income-tax returns (ITR), here is why you should banish that thought. The new notified ITR forms require a whole lot of additional disclosures to be made, the groundwork for which needs ample investment of time.

Here we highlight all you need to know while filing your returns this year.

Earlier, only those taxpayers, whose total income in any year exceeded the basic exemption limit, were required to file the ITR. However, for FY20, taxpayers who have entered into certain specified transactions, are also required to file their income-tax returns, even if their income does not exceed the basic exemption limit. The specified transactions referred to are deposits exceeding ₹1 crore (singly or in aggregate) in one or more current accounts, and expenditure of ₹2 lakh on foreign travel or over ₹1 lakh on electricity bills in a year.

In the forms (ITR-1, ITR-2, ITR-3 and ITR-4) notified for this year, such persons are required to clearly specify the amounts incurred in each of the transactions mentioned above.

Individual taxpayers are mostly required to choose from ITR 1 to ITR 4. Those who have income chargeable under the head Profits and Gains from Business or Profession (PGBP) are required to file ITR 3. However, if you have opted for presumptive taxation, your returns will have to be filed in ITR 4. Presumptive taxation is a scheme allowed by the Income-Tax (I-T) Act for businesses having a total turnover of less than ₹2 crore and eligible professionals with gross receipts of less than ₹50 lakh in a financial year. Taxpayers covered under this scheme are required to pay tax on a flat rate (of 6 to 8 per cent), on the turnover of such business or profession.

For those (individual taxpayers) who do not have income under the head PGBP, you will have to file ITR 1 if your total income does not exceed ₹50 lakh. However, irrespective of the total income earned, directors of a company or those who have invested in unlisted equity shares cannot file ITR 1.

Besides, individuals whose total income includes lottery income, agricultural income exceeding ₹5,000 or income from more than one house property, or from any source outside India, also cannot file ITR 1. Even if one possesses an asset outside India, he/she cannot file ITR 1. Similarly, even those who have brought forward losses from previous years cannot file ITR 1. All those taxpayers, who cannot file ITR 1, will have to file their returns in ITR 2 (see accompanying table).

Now, let us understand the important changes made in the new notified ITR forms.

The new notified forms allow taxpayers to select multiple bank accounts for the purposes of income-tax refunds. This was amended to avoid the occurrence of tax refund failures owing to technical glitches such as a mismatch or incorrect details of the bank account selected for the purposes of refund.

Besides, the new forms this year also allow interchangeability of Aadhaar with PAN, in various schedules. In some cases, the forms require the PAN of another party, such as a tenant or an auditor, etc. Now, in all such cases, you can provide the Aadhaar number of the said party, in lieu of PAN.

For those of you filing the ITR in response to a notice, the forms now require you to quote the Document Identification Number (DIN) of the notice received from the department.

For those who have investments in unlisted shares of a company, details of the company– name and type of company etc. will now have to be provided while filing ITR 2 or 3. The same applies for an individual taxpayer who is also a director of a company.

The returns for this year have also been tweaked to give effect to the announcements made in Budget 2019. For instance, one can claim additional deduction of interest on housing loans and interest on loan taken for buying electric vehicle from total income (under sections 80EEA and 80EEB). The Schedule of Deductions under Chapter VI-A has been tweaked in all ITRs (1 to 6) to give effect to this change.

Besides, as part of the Covid-19 relief measures, the Centre had extended the last date for making tax-saving investments to June 30, 2020 from March 31. This includes both investments made for chapter VI A deductions and for deductions in capital gains (Sections 54 to 54GB). Such tax-saving investments made during the extended periodwill now have to be disclosed separately in Schedule DI (Details of Investments). However, one must note that while the last date for making such investments has been extended, there is no change in the maximum permissible amount of deduction.

Another amendment to take note of would be the waiver of higher surcharge (of 37 per cent in cases where income of the taxpayer exceeds ₹5 crore) on short-term or long-term capital gains on sale of listed equity shares. Considering this, the ITR forms 2, 3 and 5 have been revised, where separate columns have been provided for reporting such incomes, while calculating the total surcharge payable.

Post filing your return, do remember to verify it. To do so, you can mail the acknowledgment or ITR V to the Income-Tax Department’s office. This is mandatory for all assessees, where the return of income is electronically filed without digital signature and without using electronic verification code.

ITR V can be downloaded from the I-T Department’s website. One copy of ITR-V, after being duly signed by the taxpayer, should be mailed (posted) within 120 days of filing your returns to the Income-Tax Department’s office in Bengaluru.

You can also complete the process electronically. You can e-verify your tax return using either your Net banking account/ Aadhar OTP/ or bank account number or demat account number.

For instance, those of you wishing to e-verify using your Aadhar number can do so if your Aadhar number is linked to your PAN card. You can now select the option ‘I would like to generate Aadhaar OTP to e-Verify my return’ on the income-tax website, while verifying your returns. You will get your OTP (one-time password) on your registered mobile number which should now be entered to complete the process of e-verification of your income tax returns.

There’s a month’s time before the deadline, enough to examine various options for return filing. A do-it-yourself approach, going to a Tax Return Preparer or an online intermediary are among the choices. Of course, the traditional method of using the services of your chartered accountant never loses charm.

How do you choose? The decision should be based on how comfortable you are in handling taxation matters, and what kind of services you are looking for.

If you are internet savvy and also know a bit about taxation, a month’s time is good enough to explore the Tax Department’s e-filing website — incometaxindiaefiling.gov.in — and file returns on your own. You just need to register on this portal, obtain a user ID (which is your PAN) and a password to log in and then upload your return. And the department doesn’t charge you for the process.

If you have your income details ready, filing the return is not challenging. The website is convenient to use as it provides access to all the other information you will need, at one place. A link to access your Form 26AS, which has details of the tax deducted at source (TDS) and tax collected at source (TCS) from your income and the links to e-pay self-assessment tax as well as to e-verify the returns are available. You can also view your earlier returns, their processing status, outstanding tax demand, if any, refund status and ITR V (acknowledgement) receipt status.

To make the process less time-consuming, some of the number crunching (tax calculation) is also automated. Also, partly pre-filled returns with details captured from the PAN database, e-filing profile, earlier ITRs as well as Form 26AS are available.

Over the past few years, additional features have been introduced. For instance, to increase security, a second-level authentication for your login, through a feature, called ‘e-filing vault’, is available. Once you enable this, you can choose to log into your e-filing account through options such as net banking and Aadhaar-based OTP, instead of just the user ID and password. Service requests such as requesting for reissue of refund, in case there are any problems in the process, are available, too. If you have any grievances, you can raise them and get them addressed through the e-Nivaran facility in your window.

If you’d rather have someone else file your return, you can use the services of several intermediary websites. These portals collect all required information from you, calculate your tax liability and file the return in the Income Tax Department’s portal on your behalf.

The good news is that some intermediaries offer free e-filing for simple returns. Taxsmile, for instance, offers free return filing for those with income below ₹5 lakh. ClearTax offers free filing for some assessees. If you have income from multiple heads or have foreign income, for instance, you can go for assisted filing, where experts, including CAs help you navigate your way through.

Depending on the sources of your income, various websites have different fee structures for assisted filing. TaxSpanner, for example, has assisted filing options from ₹699 to ₹7,999, based on the nature of service provided.

Many websites offer several value-added services apart from filing returns.Expert follow-up assistance to customers is available for rectification, demand notice, and so on that come up after return-filing. Most portals offer talk-time with tax experts or CAs to clarify your queries. Tax-planning services as well as online documentary vault for safekeeping your documents are also available. Usually, these value additions are provided as part of the return filing package. Some, including, Taxsmile, unbundle each value-addition and price them separately as well.

You can try government-appointed Tax Return Preparers (TRPs) as well. You can locate the TRP closest to you under the ‘Taxpayer Services’ tab at www.incometaxindia.gov.in, and register with them for filing your return.

TRPs receive a remuneration of 3 per cent of the tax paid on the returns prepared and filed in the first year, 2 per cent in the second year and 1 per cent in the third year (subject to a maximum of ₹1,000). But if such remuneration does not exceed ₹250 for any year, they are free to charge the difference between the actual remuneration and Rs 250 from the assessee.Choosing this option, though, means that you may not have year-round advice or access like the tax portals which offer value-added services.

Anand Kalyanaraman

From end-July to end-November and then again to end-December. The Centre has been good to extend the tax return filing due dates for the financial year 2019-20 (assessment year 2020-21) due to the Covid crisis this year. Just about a month to go now, it’s time to get this key job done and dusted. Here are some reasons to get cracking.

One, an eleventh hour dash could result in mistakes while filing returns. Two, missing the deadline could mean interest cost, penalties and delayed refunds. Until some years ago, the taxman had the discretion to levy a penalty on late filing of returns. Now, he is obliged by law to do so. Under Section 234F of the Income-Tax Act, there is a penalty of ₹10,000 for filing the return beyond December 31. The penalty for late filing will be up to ₹1,000 if the taxable income is ₹5 lakh or less.

Next, there is an interest cost under Section 234A if you have pending tax dues and don’t file your return by the due date. While filing the return after the due date, along with the tax dues, you will also have to pay interest on the dues at 1 per cent for each month of delay (part of a month is considered a full month for calculation). So, if you have dues of ₹50,000 for the year ended March 2020, and you file your return in March 2021 (instead of by December 31, 2020), you will have to pay ₹50,000 plus ₹1,500 as interest — at 1 per cent for three months (December to March).

Note that the benefit of extended due date (December 31, 2020) to calculate interest is only for those whose pending tax dues are up to ₹1 lakh. If your pending tax dues exceed ₹1 lakh, then the interest meter has already started ticking after the original due date, that is July 31, 2020. Such persons too can cut their losses the sooner they file their tax returns.

Then, if you are entitled to refund, a delayed return will not just delay the refund, but will also fetch you interest for a shorter period. In case of a belated return, interest on your refund is calculated at 0.5 per cent for each month from the month in which the return is filed. But if a return is filed by the due date, the interest is calculated from the beginning of the assessment year (that is, from April 2020).

Also, if the return is delayed beyond the due date, you will lose the benefit of carry forward of losses (except loss from house property) and their set-off against incomes for up to eight years.

Besides, a filed tax return is often asked for when you apply for a loan or for a visa to travel to foreign countries. Good to keep it handy.

Finally, even if you miss the extended deadline of December 31, make sure to file your return until the end of the assessment year (March 2021 for the financial year 2019-20).

Failure to meet this upper time limit could mean a sharp escalation in penalty and also possible prosecution.

Source: www.thehindubusinessline.com

Author: Parvatha Vardhini C


Affordable Care Act filled need, fended off dismantling in 2020

Affordable Care Act filled need, fended off dismantling in 2020

This year, Americans’ access to health care took the spotlight like never before.

Since March, more than 250,000 people infected by the coronavirus have died and millions more have lost their health insurance in the economic crisis caused by the pandemic.

During the presidential campaign, both President Donald Trump and President-elect Joe Biden promised much to address these health and economic issues, sparring on how best to provide Americans access to health care. Central to both of their arguments remained a decade-old law: the Affordable Care Act — landmark health care legislation that showed its continued significance during this particularly difficult year.

Trump wanted to dismantle it, while consistently promising a replacement plan that never materialized, and Biden promised to build on the current law with hopes of offering a public option.

“Healthcare is the kitchen table issue for most Americans, both because of cost, and because of what it means to go through life without coverage,” said Leslie Dach, a former senior counselor at the Department of Health and Human Services during the Obama administration.

“We are now at a time this year when people needed the ACA more than ever, and years of studies have shown how its coverage has positive impact on people’s health, life expectancy and the ability to get a job,” added Dach, the founder of Protect Our Care, a liberal group aimed at protecting the law. “And yet for purely partisan or ideological reasons, people are trying to take it apart.”

Those efforts haven’t been particularly fruitful.

A little more than 10 years after the law known as Obamacare was passed, the landmark health care legislation has survived numerous attacks under the Trump administration and appears to be deeply embedded in the nation’s health care system. The effect it has had during this difficult year — whether in politics, policy or at the kitchen table — is hard to dispute.

Though it is currently difficult to know exactly how many people remain without their health insurance because of the current economic crisis, between February and June approximately 14.6 million people — workers and their dependents — were affected by job losses that also resulted in losing employee-sponsored health insurance, an estimate by the Commonwealth Fund concluded.

In states that passed Medicaid expansion, the Affordable Care Act helped shore up some of those losses, particularly as rolls for the public health insurance option for low-income people have ballooned this year.

Other people have found options through the plans offered by the ACA or received coverage from a spouse or parent, COBRA, short-term health plans or just gone without.

The exact number of people who lost insurance in 2020 will remain unknown until late next year. The Congressional Budget Office released a report in September looking at the amount of people who were uninsured in 2019 — 30 million — and they estimated that the number could jump by 1 million people because of the pandemic.

They concluded, however, that the situation may have been worse if not for the options offered through the ACA and the ways the law expanded Medicaid.

“In a lot of states, it didn’t matter how poor you were or how much income you lost, you still might not have qualified for Medicaid before the ACA existed,” said Cynthia Cox, the vice president of the Kaiser Family Foundation and director of its ACA program. “So the Medicaid program has been a big safety net during the pandemic and its economic turmoil and everything that’s occurred as a result.”

The Supreme Court could still decide to strike down part or all of the law next year, but many believe that is unlikely after justices listened to oral arguments earlier this month.

It appears Trump will exit office without fulfilling his promise to “repeal and replace” — or even just “repeal” — Obamacare.

The reason the law was impossible or extremely difficult to dismantle, many experts said, is because it is so deeply baked within the American health care system. So much so that it would be difficult for consumers and insurers to imagine the health care landscape after it was gone.

“Everyone talks about Obamacare as if it’s a thing, an object, like you can point to the Obamacare part of the federal government or federal budget, but it’s not like that,” said Chris Pope, a senior fellow focused on the ACA and entitlement reform at the Manhattan Institute, a conservative think tank. “The Affordable Care Act tinkered with federal statutes in a 1,000 different places, many of which have since changed. There are new laws that depend on it. So you can’t just strike it down.”

The law has also hit its peak popularity this year since its passage in 2010 with 55 percent of Americans saying they view the ACA favorably, according to the Kaiser Family Foundation. Experts credit the growing favorability to Trump’s threat of removing it without a clear plan to replace it.

There’s a very good chance that people who are uninsured now could actually be getting covered for free. But they would need to act quickly.

Cynthia Cox

Trump attempted to damage the law by cutting the marketing budget for open enrollment and outreach by 90 percent, according to the Kaiser Family Foundation.

“Four out of 10 uninsured people are eligible for free coverage, either Medicaid or a zero premium bronze plan,” she said, referring to a plan offered through the ACA. “So there’s a very good chance that people who are uninsured now could actually be getting covered for free. But they would need to act quickly.”

Biden said he has big plans to build on top of the law so that others can gain access to health care. It may be a challenge for him to do much in Congress, however, as both chambers face small margins in either direction for party control.

While the former vice president said he planned to roll out a public option that he has called “Bidencare,” few believe that he will be able to convince Republicans to buy into a plan like that.

It is more likely he will instead try to undo some of the Trump administration’s efforts to undercut the ACA while also looking at ways to entice the dozen states that have refused to expand Medicaid.

The impasse is chiefly due to Republican-controlled state governments that declined the largely free federal funding to expand Medicaid for ideological reasons around fiscal spending and because of its connection to the Obama administration.

But Benjamin Sommers, a professor of Health Policy and Economics at the Harvard T.H. Chan School of Public Health, said these states are forgoing an economic boon offered by the federal government.

States did not have to cut any programs and saw huge amounts of economic benefit when they decided to expand, he concluded in a June analysis published in the New England Journal of Medicine.

“It’s a win for the state budget and clearly for the patients,” he said. “And when you take all that together, what you can see is that Medicaid is not only a public health investment during a pandemic, but it’s also a form of stimulus for the local and state economies.”

While 12 states continue to refuse Medicaid expansion that would likely provide health insurance to 2 million people, voters in Missouri and Oklahoma — both considered conservative states — elected to take on the option via ballot initiative this year, appearing to prove that elements of the ACA are universally popular.

Biden is expected to try to find ways to encourage the remaining 12 states to sign on to expansion, which would largely benefit members of the working poor, but it could take some time.

“From a state point of view, it’s a pretty good deal,” Pope said. “They get $9 from the federal government for every dollar they spend themselves. So I think everyone kind of assumes that they’ll eventually take it, but the question is: to what extent will the Democratic House, the Biden administration and an evenly divided Senate put some extra money on the table to move the needle in that direction?”

Source: newsfortomorrow.com

Author: News Master


Janney Montgomery Scott LLC Acquires 10,906 Shares of Eaton Vance Municipal Income Trust (NYSE:EVN)

Janney Montgomery Scott LLC Acquires 10,906 Shares of Eaton Vance Municipal Income Trust (NYSE:EVN)

Eaton Vance Municipal Income Trust logoJanney Montgomery Scott LLC grew its holdings in Eaton Vance Municipal Income Trust (NYSE:EVN) by 37.6% during the 3rd quarter, Holdings Channel reports. The fund owned 39,907 shares of the investment management company’s stock after buying an additional 10,906 shares during the period. Janney Montgomery Scott LLC’s holdings in Eaton Vance Municipal Income Trust were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Karpus Management Inc. raised its position in Eaton Vance Municipal Income Trust by 3.4% in the second quarter. Karpus Management Inc. now owns 972,533 shares of the investment management company’s stock worth $12,147,000 after acquiring an additional 32,055 shares during the period. Wells Fargo & Company MN raised its position in shares of Eaton Vance Municipal Income Trust by 2.5% during the 3rd quarter. Wells Fargo & Company MN now owns 219,216 shares of the investment management company’s stock valued at $2,807,000 after purchasing an additional 5,405 shares during the period. Morgan Stanley raised its position in shares of Eaton Vance Municipal Income Trust by 16.8% during the 1st quarter. Morgan Stanley now owns 216,244 shares of the investment management company’s stock valued at $2,590,000 after purchasing an additional 31,106 shares during the period. UBS Group AG raised its position in shares of Eaton Vance Municipal Income Trust by 22.0% during the 2nd quarter. UBS Group AG now owns 205,324 shares of the investment management company’s stock valued at $2,565,000 after purchasing an additional 37,092 shares during the period. Finally, Lavaca Capital LLC raised its position in shares of Eaton Vance Municipal Income Trust by 7.4% during the 2nd quarter. Lavaca Capital LLC now owns 164,700 shares of the investment management company’s stock valued at $2,057,000 after purchasing an additional 11,300 shares during the period. Institutional investors and hedge funds own 16.66% of the company’s stock.

Shares of EVN stock opened at $13.29 on Friday. Eaton Vance Municipal Income Trust has a one year low of $9.17 and a one year high of $13.79. The company’s fifty day moving average price is $12.85 and its 200-day moving average price is $12.62.

About Eaton Vance Municipal Income Trust

Eaton Vance Municipal Income Trust is a close ended fixed income mutual fund launched and managed by Eaton Vance Management. It invests in the fixed income markets. The fund invests primarily in investment grade municipal obligations of various sectors, such as cogeneration, education, electric utilities, general obligations, healthcare, hospital, housing, transportation, and nursing home.

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Want to see what other hedge funds are holding EVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eaton Vance Municipal Income Trust (NYSE:EVN).

Institutional Ownership by Quarter for Eaton Vance Municipal Income Trust (NYSE:EVN)

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Source: www.modernreaders.com

Author: Emily Schoerning


Big Story | All you need to know about filing I-T return


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