Now remember guarantees and stock markets don’t mix. The returns from the equity markets are not guaranteed. So in order to give you guaranteed returns these plans tend to shift their portfolio between debt and equity in such a way that that the plan’s highest NAV is locked by shifting a part of equity assets… Read More »
Private sector bank Lakshmi Vilas Bank has said it has recorded a total business increase of 22.79% at Rs 15,561 crore for the financial year ending 31st March, 2010. Last year, the bank’s total business was worth Rs 12,673 crore. In a statement, the bank says, “The total deposits of the bank rose from Rs… Read More »
It is important that you read and understand the reward offers completely. Say Mr. Gupta had earned 10,000 reward points on his credit card. When he went to redeem these points he was in for a surprise – his reward points had expired in the previous month. Since he had failed to read the fine… Read More »
Now, with implementation of DTC, PPF will come under the EET (exempt, exempt, tax) regime. Under the EET model proposed by the DTC, contributions to PPF would be taxed at the time of withdrawal. However, balance accumulated or investments made till 31 March 2011 and the interest they earn will not be taxed. Hence only… Read More »
IRDA’s has taken this step to increase transparency and help consumers to have a clear understanding of the product. IRDA explains the bias towards longer tenure Insurance products by maintaining that insurance products should be long term saving vehicles and hence investor opting for it, should benefit. Also, this will encourage investors to look at… Read More »
The Finance Minister, Mr. Pranab Mukherjee has firmly asked banks to make plans and tactics to target the unprivileged and under privileged portions of population. For this purpose, the State Bank of India (SBI) has authorized a term loan valued at Rs. 200 crore to Hyderabad based microfinance firm Share Microfin Ltd.
Tax incentives are given to encourage savings/ investments. Savings form part of your overall financial plan which in effect means tax planning is a subset of financial planning. Your financial plan will set objectives for you based on your aspirations, your life style, your age group, size of family etc. The question you need to… Read More »
The timing came as a surprise to markets as it expected announcements on the rate front but only during its annual monetary policy announcement scheduled for April 20. RBI is of the opinion that monetary policy changes have a lag effect, so making announcements in a timely manner helps to avoid taking strong measures at… Read More »
Income from winning a lottery, crossword, horse race, gamble or bet is not exempt. Tax at the rate of 30% is applied. Further, no expense allowance is possible against such an income. E.g. cost of lottery tickets purchased during the year cannot be deducted from the lottery winnings. Also, no basic exemption limit and no… Read More »
Public sector bank UBI said it optimistic about reaching 18% hike in loans given in the current financial year. Bhaskar Sen, UBI’s Chairman and Managing Director said “The RBI has a projection of 16 per cent for the current fiscal. I think it is quite possible to achieve 18 per cent credit growth”. Many public… Read More »