Money

National Savings Certificate (NSC): Interest Rate & Tax Benefits

National Savings Certificate (NSC): Interest Rate & Tax Benefits

National Savings Certificate (NSC) and Public Provident Fund (PPF) are the most popular fixed income earning instruments which can be opened with a Post Office and also help in saving tax under Section 80C. In this article, we would be focusing on National Savings Certificate (NSC), its Interest Rate, Maturity Period etc. Recommended Read:- 8 ways of saving tax legally ...

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Tax Saving Fixed Deposit: Should you be investing in them?

Tax Saving Fixed Deposit: Should you be investing in them?

To give a boost to the declining interest in fixed deposits of retail investors, the Finance Ministry in the year 2006 announced that all Fixed Deposits with a maturity of not less than 5 years shall be eligible for deduction under Section 80C of the Income Tax Act. Such type of Fixed Deposit is popularly known as Tax Saving Fixed ...

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What is a Demand Draft & Bank Charges for Creating a DD?

What is a Demand Draft & Bank Charges for Creating a DD?

Demand Draft (also known as DD) is a pre-paid negotiable instrument, wherein the Bank by whom the Demand Draft has been made undertakes the responsibility to make full payment whenever the Instrument is presented for payment. In order to obtain the payment, the beneficiary either has to deposit the same in his Bank Account or get the same collected through ...

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Cash Flow Statement – Direct & Indirect Method

Cash Flow Statement – Direct & Indirect Method

Cash Flow Statement also known as Statement of Cash Flows is a statement which shows the Changes in the Cash Position of an organisation between 2 periods. Along with showing the changes in the Cash Position of an organisation, it also depicts the reasons for such change during the period. The main reason for the preparation of the Cash Flow ...

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Funds Flow Statement: Meaning & How to Prepare

Funds Flow Statement: Meaning & How to Prepare

Funds Flow Statement is a statement prepared to analyse the reasons for changes in the Financial Position of a Company between 2 Balance Sheets. It shows the inflow and outflow of funds i.e. Sources and Applications of funds for a particular period. In other words, a Funds Flow Statement is prepared to explain the changes in the Working Capital Position ...

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PPF Account in ICICI Bank – Apply Online

PPF Account in ICICI Bank – Apply Online

With PPF Account giving a good return of 8.8% p.a., almost all taxpayers invest some portion of their income in PPF as not only is this investment deductible u/s 80C but the interest earned is also exempt. To know more about the benefits of opening a PPF Account – refer our detailed article on PPF Account Earlier Public Provident Fund ...

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PPF Account in SBI : How to open and Transact Online

PPF Account in SBI : How to open and Transact Online

In today’s world of increasing work pressure and stiff deadlines, many Individuals are not able to plan their taxes well and make use of all the Income Tax Rebates offered to them. But with the introduction of online banking, all finances can now be managed from your finger tips and in this article we would be explaining you how to ...

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What is Health Insurance Portability?

What is Health Insurance Portability?

A Common Mistake which people usually realise years after committing the same is the Mistake of opting for a wrong Health Insurance Provider. Many people opt for a Health Insurance Policy simply based on the Premium Payable without looking into the benefits it offers. (Refer our Article on 8 Things to be kept in mind while buying Insurance Plan) And ...

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What is Venture Capital & Growth of Venture capital in India

What is Venture Capital & Growth of Venture capital in India

A new private company which does not want to take finance from public markets may have their eyes on venture capital. Venture capital is provided to any business firm by those who are willing to invest in the projects that are risky but have a promising future prospect. Such funds are known as venture capital funds. Venture capital has now ...

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Prepayment Penalty on Home Loans in India – Abolished

Prepayment Penalty on Home Loans in India – Abolished

In a relief that has come to Home Loan borrowers, the Prepayment Penalty on Home Loans has been scrapped and abolished by the Regulator of Home Loans in India i.e. the National Housing Board (NHB) The Notification for Removing Pre-Payment Penalty for Home Loans in India came on 19th Oct 2011 vide Circular No. NHB (ND)/ DRS/Pol – No. 43/2011-12 ...

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