The Union Finance Minister Nirmala Sitharaman, in her maiden Budget speech on Friday, announced an additional Income Tax deduction of Rs 1.5 lakh on affordable home loans. A new Section 80EEA will be introduced under the IT Act. As per the proposal, income tax payers will get tax rebates of around Rs 3.5 lakh on […]
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Full Budget 2019-20 Key highlights | Important Tax Proposals
The Indian Finance Minister has tabled today, the Union (Full) Budget 2019-20 in the Parliament. Below are some of the key highlights that are related to Personal Finances; Full Budget 2019-20 Highlights Latest Income Tax Slab Rates FY 2019-20 Below are the latest Income Tax Slab Rates for FY 2019-20 or AY 2020-21. (FY is Financial Year and AY […]
Latest Sovereign Gold Bonds FY 2019-20 Issues: Details, Features & Review
Sovereign Gold Bond Scheme was launched by the Central Govt in November 2015, under Gold Monetisation Program. Sovereign Gold Bonds Scheme is an indirect way of investing in Gold. Instead of buying physical gold, investors can buy gold in paper form through Sovereign Gold Bonds. These bonds track the price of gold, plus an extra interest amount is paid […]
How To Delink Aadhar Card Number From Bank, Digital Wallet Or Other Services?
The milestone verdict of the Supreme Court that stated that the unique identification number present in the Aadhar card is no longer mandatorily needed for opening bank accounts or obtaining mobile phone connection has come as a relief for many Indian citizens. However, the previous ruling that made it mandatory may have led to linking […]
Post Office Small Saving Schemes Interest rates July – Sep 2019 | Q2 of FY 2019-20
The National Savings Schemes (NSSs) are one of the very popular saving schemes in India. These are regulated by the Ministry of Finance. They offer complete security of investment combined with attractive returns. These schemes also act as instruments of financial inclusion especially in the geographically inaccessible areas due to their implementation primarily through the Post […]
What is Repo Linked Lending Rate (RLLR)? Will it be beneficial to the Borrowers? | Definition, components & review
The primary functions of a commercial bank are accepting Deposits and also lending funds. Deposits are savings, current, or time deposits. Banks take in funds, called Deposits, from those with money, pool them, and Lend them to those who need funds. Banks are intermediaries between depositors (who lend money to the bank) and borrowers (to whom the bank lends money). The amount banks pay for deposits […]