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Good News for Investors! Government Increases Interest Rates on PPF

Development has its own terms and nature which is reflected by way of dynamic government policies and declarations. The latest news from the development sector is in form of that there has been certain amount of relief for people belonging to the lower income groups. The relief can be regarded as an indirect one where people are not directly given any incentive but rather their savings habits will now yield them a better return as .....

Kisan Vikas Patra (KVP) Interest Rates Chart

Interest on KVPs is taxalbe on accrual basis. The amount of interest accrued is as follows. The interest rates chart of Kisan Vikas Patra is given below. You can find also the complete guide about KVPs like who can purchase, where to apply, how to apply, maturity value, maturity period etc. here. kisan vikas patra

Learn Ways to Save Your Taxes!

It is always sad to give away your hard earned money in form of taxes as everybody wants something equivalent in return, but since it is our prime duty to pay taxes, we must do and it and do it in good faith. The Income Tax Department of India has provided various opportunities in form of allowing deductions and exemptions on the total income of the assessee. The deduction section which covers the most number .....

Insurer Wants Separate Tax Deduction Limit

Insurance is being done by every individual who ever it may be or whatever class he belong to, rich or poor. Insurance is the only investment that is being found in the hand of nearly every individual as it is supposed to be a very good investment as it is an agreement for life and this is not all, the amount paid towards the premium of the insurance is also tax free under the chapter .....

All You Wanted to Know About EPF and PPF

There are people among us who are still confused about what’s the difference between employees’ provident fund and public provident fund. There are many salaried people who are still in confusion as to whether they are to invest the PPF to. The main confusion lies where the people don’t have an idea about what’s the difference between the recurring deposits in the bank and the public provident fund account. Provident fund is generally related to .....

Saving Tax by Equity Linked Saving Scheme

Investors today look for an appropriate investment avenue to park their funds which gives them a reasonable rate of return. Many a times investors are unaware and confused which area to invest in where they can get a good return. In such cases mutual funds houses comes to the rescue. They invest the funds of the investors in areas that could fetch them reasonable return according to their portfolio. One such scheme launched by the .....

Highlights of Infrastructure Bond of REL Limited u/s 80CCF

The most important section under which an individual usually used to claim deduction under income tax act is 80C. This section provides deduction to certain extent The Indian economy is growing at fast pace. Growing economy also signify that earning capacity of the people also going up. Growing income of the people signify that the people will have to pay more tax. Hence tax saving is an important factor which an individual has to bear .....

Latest Amendments to Employees’ Provident Fund and Pension Schemes – More Hardship for International Workers

Various amendments took place in Employees’ Provident Fund and Pension Scheme on first day of October, 2008. As on the date it was made a compulsion for the International workers to take part in the contribution to the Employees Provident fund and Pension fund 2008. The major amendments that took place in the Employees provident fund and pension scheme in relation to the International worker is that the worker will be able to withdraw the .....

Public Provident Fund (Amendment) Scheme, 2010 – Amendment in paragraph 9

NOTIFICATION NO. GSR 956(E), DATED 7-12-2010 In exercise of the powers conferred by sub-section (4) of section 3 of the Public Provident Fund Act, 1968 (23 of 1968), the Central Government hereby makes the following Scheme further to amend the Public Provident Fund Scheme, 1968, namely :— 1. (1) This scheme may be called the Public Provident Fund (Amendment) Scheme, 2010. (2) It shall come into force on the date of its publication in the .....

Invest in Infrastructure Bonds to Save Taxes Beyond Rs 1 Lakh Limit

Infrastructure bonds, no doubt is creating a sensation all over with the range of facility that it provides to its investors. Saving tax was never been so simple and precise, now with the aid of infrastructure bonds one can save even more. Earlier, investors of infrastructure bonds could only invest up to Rs. 1, 00, 000 which resulted in an ultimate savings of Rs. 30, 900. However, latest amendments in the tax structure has allowed .....

An Analysis of Tax Saving Bonds in India

Tax saving bonds was introduced in India with a view to provide an opportunity to the tax payers to save their tax up to a certain extent by way of investing in certain declared bonds, thus, obtaining the name of tax saving bond. These bonds are income oriented bonds, that is, they generate income over a fixed period of time and also provide an allowable deduction under the section 80C of the Income Tax Act. .....

Small Savings: Big on Tax Benefits!

The small savings section is one of the most attractive sections for people all over the world. The small savings section provides people flexibility and proves to less burdensome. Small savings requires a very scant amount from the pocket of the investor and ensures a guarantee for better periodical return. Added to this, being small it does not effects the investors other investment decisions. No doubt there exists a better and heavy investment too in .....

All You Want to Know About Life Insurance

Life insurance is nothing but insuring yourselves or exactly your life. People normally get cars, trucks, motor cycles; house etc insured so that if anything unexpected happens causing damage to them and the people using them insurance would help them to pay for the losses incurred or even to pay for medical expenses for curing the people hurt in those accidents. Insuring your life would mean that the beneficiary of the insurance who is specified .....

Hidden and Untold Charges of ULIP that You Must Know

Before understanding the hidden and untold charges, one must know what ULIP stands for? Well ‘ULIP’ stands for Unit Linked Insurance Plans. It provides insurance solutions and value of policies varies according to the value of underlying assets possessed by the policy taker at that time. Investment in ULIP provides for greater degree of flexibility as well as protection to the holder as these are denoted in units and is represented by net valuation on .....

Tax Only When Interest Credited to Fixed Deposits: CBDT

Now no Income tax at your source will be deducted with a condition that the banks will have to make provisions for interest on fixed deposits and not paid to the depositors actually. This was clarified by the Finance Minister on 7th march. A fixed deposit is meant for those investors who want to deposit a lump sum of money for a fixed period (for a minimum period of 15 days to five years and .....

All You Wanted to Know About ULIP

ULIP – Unit Linked Insurance Plan gives life insurance in such a way that the value of the insurance policy at any given time would vary in accordance with the value of the underlying assets at that given point of time. ULIP is that kind of life insurance solution which would be providing benefits of protection and also flexibility in the investment. The investment is indicated as units and it is shown by the value .....

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