The More You Learn, The More You Earn
After the Finance Ministry instructions, the LIC (Life Corporation of India) has extended the validity of Senior Citizens Pension Scheme (aged 60 and above) namely Pradhan Mantri Vaya Vandana Yojana by 3 years i.e. by March 31, 2023. The pension scheme was earlier valid till March 31, 2020 which is now extended by three financial years and is open for investment from 26th May, 2020. Life Continue Reading
Government of India has come out with the stimulus to help the struggling MSME sector of India in this pandemic time. The Government has made provisions of massive ₹ 3 lakh crore for Micro, Small and Medium Enterprises sector. Under this MSME loan scheme, there would be no requirement for the collateral security and the Government will be the guarantor for the borrower.The loan will have Continue Reading
For the Quarter April to June 2020, the Government has reduced interest rates of almost all of its small savings schemes. PPF (Public Provident Fund) interest rate reduced to 7.10% from 7.90% while SCSS (Senior Citizen Savings Scheme) saw rates down to 7.40% from 8.60%, also all the Bank and Post office FDs (Fixed Deposits) are offering interest in the range of 5.50% to 6.50%. In this Continue Reading
With the increasing penetration of the internet facility across the country, daily routine items such as grocery, bakery, cosmetics, etc. to the luxury items such as laptops, high-end cameras, TV, fridge, etc. are largely bought online. The reason for this shift in the shopping behavior from the traditional shopping approach to online shopping are:The enhanced facility of comparison Continue Reading
How to Extend the PPF Account? You can close or continue your PPF account, with or without deposits after maturity (after the expiry of 15 years from the close of the financial year in which the initial subscription was made). The PPF account has a 15-year lock-in, but then you can extend it for periods of 5 years at a time, indefinitely. Types of Extension The investor has two extension Continue Reading
Income Tax Deductions vs Exemptions vs Rebate Income tax of India requires income to be classified into five different heads viz: Income from Salary, Income from House Property, Income from Business & Profession, Income from Capital Gain and Income from Other Sources. These incomes are clubbed together to form Gross Total Income but only after allowing all the exemptions under section Continue Reading
Taxability of Share Dividend Income in India What is a Dividend? A Dividend means any sum received by a shareholder in proportion to this shareholding in the company out of the total sum distributed by the company. As per section 2(22) of the Income Tax Act, the definition of dividend is an inclusive definition and it means dividend as normally understood and includes in its connotation Continue Reading