Scheme Rate of interest 2015-16(%) Post office savings bank 4.0 1 year Time Deposit 8.4 2 year Time Deposit 8.4 3 year Time Deposit 8.4 5 year Time Deposit 8.5 5 year Recurring Deposit 8.4 5 year Sr. citizen scheme (SCS) 9.3 5 year Monthly income scheme(MI) 8.4 5 year National savings certificate(NSC) 8.5 10 […]Read more "Revised Indian Post office interest rates w.e.f. 1.4.2015"
Narendra Modi’s slogan ‘Beti Bachao Beti Padao ‘ brought the above scheme in India by Indian govt. The main features of the scheme is as follows: It is a savings scheme for girl child to help her for her higher education and wedding. The contributions to this scheme are eligible for tax deduction under 80-C […]Read more "Sukanya Samriddhi Yojana – Modi’s scheme for girl child"
NPS (New Pension scheme) is a social security scheme for all especially for public from unorganized sector including self employed persons and professionals. Salient features The National Pension System (NPS) was launched on 1st January, 2004 with the objective of providing retirement income to all the citizens. Investors contribute defined monthly amounts towards NPS. This […]Read more "New Pension Scheme – Govt. of India"
As per income tax law, the interest paid during construction phase can be allowed in five equal instalments beginning from the year in which the construction is completed and completion certificate is given. So any interest paid as part of Pre-EMI or full EMI is not tax deductible during the construction phase. Once we get […]Read more "Pre-EMI or Full EMI – house under construction-income tax angle"
Obama’s comments about Gandhiji being offended by the rise of religious intolerance in India has stoked another controversy which many political parties have latched on to take on the current Government. Of course, in reality Gandhiji would be more offended by many other things like the rise of alcoholism and the Pink Revolution in the country were […]Read more "Secularism or Pseudo Secularism – What does India need?"
Nowadays, there is a problem for retired people about interest rate reduction on month to month basis. Now banks are giving at the most 9.5% per annum which will be reduced to 9% soon. In order to preserve interest more than 11% and in good company, the following one is suggested for our followers and […]Read more "Good investment idea to retired people in Bond /debenture market:"
This is the first article of the year and I wanted to make a clean start to the year. So what better way to start than to write my views on Swachh Bharat campaign. Last year, our Prime Minister Modiji launched the Swachh India campaign. But beyond the showmanship and a few starts here and […]Read more "Baby Steps towards Swachh Bharat!!"