The sum assured for ULIP products have been enhancedto 10x of the premium amount from the current 5x for individuals below 45 years and for those above 45 years, it has been increased to 7x. This will ensure that individuals get a fair amount of insurance coverage, the basic objective for which this product is… Read More »
If the gross receipts are less that Rs 1.5 L the assessee has to maintain his accounts which enables the Income Tax official to compute the taxable income. In the case of the gross receipts exceeding Rs 1.5L, the assessee has to maintain books of accounting like the cash book, journal, ledger, copies of bills… Read More »
Recently, RBI Governor, D Subbarao has indicated that RBI is in favor of deregulating the savings bank interest rate, which is currently fixed at 3.5% p.a. for deposits up to Rs. 2 lakh. Deposits over Rs. 2 lakh are currently deregulated allowing banks to fix their own rate. Interest on savings bank account is the… Read More »
Although easing liquidity is not in sync with the rate hike, RBI has decided to go easy on liquidity because of the temporary liquidity squeeze on account of advance tax outflow and 3G spectrum payments. RBI has decided to extend its liquidity management measure of 0.5% of the bank’s net demand and time liabilities under… Read More »
Just like how today there is a variation in the BPLR by banks, so also the base rates across banks are likely to vary. That is because, cost of funds for each bank is different and given that costs would be the primary factor determining the base rate, the same will vary. However the variation… Read More »
The DTC which is in the proposal stages will replace the Income Tax Act come April, 2011, and hence, it is key to understand what the proposed changes are, and how it will impact you, the salaried individual. Following is a synopsis of the various changes announced.
Car loan borrowers would now have to pay an extra Rs 100 as EMI on a loan amount of Rs 4,00,000 for a period of 36 months. This rate increase would be the second for this type in this fiscal. The earlier rate hike was effected in April.
Sharp domestic demand for Ford India’s small car Figo, and interest in overseas markets such as South Africa, has made the car-manufacture commence a 2nd shift at its Maraimalainagar factory in Chennai since June, according to a company official.
Although base rate for personal loans has become effective from the 1st of this month, there is hardly any difference with the previous BPLR method of lending.
The country’s biggest two-wheeler manufacturer Hero Honda has posted a 16.60% rise in its sales in June at 4,26,454 units exceeding 3,65,734 units it sold in the equivalent month last year.