The Reserve Bank of India (RBI) has recently cut key policy rates to mitigate Covid-19 impact. RBI has slashed the Repo Rate by 75 basis points to 4.4%. It has cut the Reverse Reop Rate by 90 basis points to 4% and CRR has been reduced by 100 baiss points to 3%. In view of […]
Banking
How to apply for Instant PAN through Aadhaar based e-KYC?
CBDT has recently announced the launch of new Instant PAN allotment provision. This latest facility has been made available on the Income Tax e-filing portal. Instant PAN allotment will now be done in near to real-time at free-of cost. Individuals (other than minors) with a valid Aadhaar number (with updated Mobile number) can avail this […]
NRI Residential Status & Taxation (new) rules FY 2020-21 | Budget 2020
The residential status of taxpayers plays a key role in determining the scope of taxable income (Indian Income / Foreign Income) for a financial year in India and there by the tax payable. The residential status of an individual is based on the duration for which he/she is present in India. There are 3 types […]
15 Q&As on Fixed Deposit Interest Income Taxation Rules (FY 2019-20)
Fixed Deposits and Recurring Deposits are the most popular financial saving tools in India. It is not an exaggeration to say that most of us might have started the investment plan with an investment in Post office RD or bank Fixed Deposit (FD). The below table gives you an idea about the total outstanding amount (as […]
PAN Card Lost or Damaged? | How to get new PAN Card online?
PAN card or Permanent Account Number is one of the most crucial and important documents for the citizen of India. It is not only used for tax purposes but also as an identity proof. The card includes a unique ten-digit alphanumeric number and is issued in a form of a laminated card. (You can also get e-PAN now.) Losing PAN card is a common occurrence for many taxpayers in India. If your PAN card […]
Post Office Small Saving Schemes Interest rates Oct – Dec 2019 | Q3 of FY 2019-20
The Reserve Bank of India (RBI) has recently released its third bi-monthly rate review of financial year 2019-20. The key announcement under the policy is the rate cut by 35 basis points(1 bps is 0.01%). This is the fourth consecutive rate cut from RBI , after a rate cut in February, April and June of calendar […]