There is a possibility that the slabs for personal income tax may be increased. The current slab of Rs.1.6 lakhs for taxable income may be increase to Rs.2.5 lakhs for men. There will be suitable increments to women and senior citizens. Income above this slab is taxed at 10% till the next slab.
On most cases of banks declaring bankruptcy, there is an inordinate delay on the part of the Reserve Bank of India (RBI) and the DICGC in settling the deposit insurance for depositors. The reasons cited include the progress in the process of liquidation and attempts to revive the banks.
Legal insider trading in a company means trading on a company’s stock or other securities by employees of the company and done based only on public information related to the company. In other words, insider trading is legal only up to the point when trading is done without taking advantage of the non-public information to… Read More »
More than 25% of the fruits and vegetables grown in India are wasted before they reach the consumers. This is one of the reasons for the high inflation related to foods items. Currently the food processing industry has a high excise duty for branded products. This prevents many users from being able to afford the… Read More »
The reason investors choose FMPs is for their high returns which are also guaranteed. In order to give assured returns, FMPs opt for very secure investment options like AAA rated corporate bonds whose maturity tenure matches the maturity tenure of FMP. However in the recent times, some of these FMPs started investing in commercial paper… Read More »
CIBIL acts as weeding mechanism, that helps identify poor repayment track records. It helps protect lenders from giving credit to people and establishments who are unlikely to repay what is lent. Even if credit is provided, it is done so at a very high rate of interest, thereby ensuring that the bank is able to… Read More »
The most consistent tax payers in India are the salaried class as their salaries are subject to TDS. Last year’s budget gave only a marginal relief to the salaried class with just a Rs.10,000 hike in the limit for taxable income. Since last year the salaried are pushing for a significant jump in the taxable… Read More »
At any given point in time, an X% flat rate is always more expensive than an X% annual reducing balance rate. The effective total interest paid out is also influenced by the time periods the reducing balance is recalculated, which could be monthly, daily, yearly, quaterly or half yearly. These time periods are known as… Read More »
Be regular with your investment. It is best to allocate a portion of your funds from your monthly income and make arrangements to transfer it immediately to another account, from where you can plan your fund allocation for each investment. Do not use the bank account that you utilise for your day to day expenses,… Read More »
Remember, diversification is the name of the game when it comes to investment. Just putting your money in FD will not help you get the best overall returns. You also need exposure to equities to get the growth in capital and beating inflation in the long run. Hence it is advisable to invest into both… Read More »