If you are thinking about putting all your eggs in one basket, better not do that because Section 80C has a limit of Rs. 1 L. That is, if you have made investments of Rs. 1.50 L in the investment instruments mentioned above, only Rs. 1, 00,000 out of it would be eligible for deduction… Read More »
PPF, NSC, Post office accounts, insurance (except ULIPs) and FDs are safer, they offer lower returns and are not very liquid, due to their long lock-in period. On the other hand, ELSS (Equity Linked Savings Scheme) has a short lock-in period but is more risky, while ULIPs (Unit Linked Insurance Plan) carry the risk of… Read More »
The New Pension Scheme is an investment option which will help an individual, plan for his or her retirement. The key difference between the old government pension scheme and the New Pension Scheme is that the old pension scheme was based on a defined benefit principle and the new pension scheme is based on a… Read More »
A refund banker is a scheme in which a particular bank has been sanctioned to issue refunds on behalf of the income tax department. State Bank of India is the authorized banker to this scheme. The refunds are issued in the form of cheques/drafts or ECS.