Preface: Between your wallet and that locker in your house where you keep things safe (in theory; in practice you forget to put things in there safely, and then have a panic attack as you desperately search everywhere for your missing passport), how many government documents do you think you have? A quick check shows […]
Read more "Store your important documents in DIGILOCK in india which is free"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"Now many banks ask for Credit Information Bureau (India) Limited (CIBIL) report for sanctioning loans to individuals/companies etc. This report will give credit score to the applicant based on his banking transactions in the past. In order to get the report , we have to do the following: For online applications We can access our […]
Read more "Credit Information Report – CIBIL"Banks like Yes Bank, Union Bank of India, Canara Bank, Andhra Bank have come together to allow inter-bank transfer of funds through their debit cards. So fund transfers among the above banks now made easy through ATM. For this, using the ATM of the above banks, after proper identification etc, then we have to punch […]
Read more "Use your debit card for ATM – Applicable to certain banks only now"What is CAS? It is nothing but Consolidated Accounts Statement. Now SEBI is planning for single statement for all our investments at one place using our PAN number. This may be started probably from March 2015. SEBI has directed all mutual fund registrars and all fund houses to co-ordinate with the stock market depositories namely […]
Read more "Consolidated Accounts Statement (CAS)"Now ATM transactions are putting limit of 5 withdrawals through their own ATM and 3 ATM withdrawals from other Bank ATMs. If anybody withdraws more than the approved one, they will be charged Rs.20 per transactions. Of course RBI has allowed banks to relax these to their clients. The above drives the banking public to […]
Read more "Mobile Banking- ATM usage – Smart Technology – Card less cash withdrawal"For Assessees up to the age of 60 years: Income up to 2.5 lakhs – No tax Income from 2.5 lakhs to 5 lakhs – 10% on income above 2.5 lakhs Income from 5 lakhs to 10 lakhs -Rs.25000 plus 20% on income above 5 lakhs Income above 10 lakhs – Rs. 1,25,000 plus 30% […]
Read more "Your Indian Income Tax Slab for A.Y. 2015-16 (F.Y. 2014-15) – Individuals"
Brainwaves & Braindumps 