We receive income through different ways, it can be your Salary, Dividend income from mutual funds or stocks, commission, rent, interest on your Bank Fixed Deposits / Securities etc., The providers of these incomes (like your company / bank) can deduct a certain percentage of income as TDS (Tax Deducted at source) based on certain […]
Banking
Income Tax Deductions List FY 2018-19 | List of important Income Tax Exemptions for AY 2019-20
Budget 2018-19 & the Finance Bill 2018 have been tabled in Parliament. The Income Tax Slab rates have been kept unchanged by the Finance Minister for the Financial Year 2018-19 (Assessment Year 2019-2020). Tax planning is an important part of a financial plan. Whether you are a salaried individual, a professional or a businessman, you can […]
How to open PPF account instantly through ICICI Bank online services?
PPF (Public Provident Fund) is one of the most popular long-term saving instruments in India. It is also a decent tax saving tool under Section 80C Of The Income Tax Act. There is tax benefit under Section 80C with maximum limit of Rs 1,50,000 per annum. The interest earned on the investment is also tax free […]
Important Dates & Deadlines for Aadhaar linking with PAN, Mutual Funds, Insurance Policies & Mobile SIM
Aadhaar card has become a hot topic of discussion in India. Government of India is linking each and every aspect of life to Aadhaar, be it your PAN, Bank account, EPF UAN, Mutual Fund Folios, Demat Account, Insurance Policies, Mobile Number, Govt Subsidies (like LPG), Death Certificate etc., Aadhaar is a 12 digit unique identification […]
Banks to now match Original IDs with photocopies – New Reporting Rules | Prevention of Money Laundering Act (PMLA)
The Prevention of Money Laundering Act (PMLA) is the core of the legal framework that has been put in place by the Govt of India to combat money laundering and generation of black money. As per Rule-9 of the PMLA, the reporting entities like banks, financial institutions and intermediaries have an obligation to verify the identity of clients, maintain records and […]
What is Peer to Peer Lending? How does it work? | RBI’s latest Guidelines on P2P Lending Platforms
As per the latest RBI’s report, the total outstanding amount of un-secured loans (personal loans) given by the formal banking sector is around Rs 16,200 billion. That’s a huge amount! But, we all know that a majority of us (Indians) also rely on our friends, family members, acquaintances, money lenders, Chit funds and business associates […]