RuPay Debit Card : Indian Substitute Of Visa & MasterCard

National Payment Corporation of India (NCPI), has launched India’s first payment gateway RuPay on March 26, 2012. RuPay is the name of the domestic card scheme launched in competition with global payment processing firms Visa, MasterCard and other multinational brands. RBI did an analysis of the card transactions happened in India and concluded that most of the card transaction done …

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What Are Equity-Linked Debentures?

Looking at the ups and downs in the equity market in recent past, investors have started looking for financial products which can offer them security of principal with reasonable returns. Equity-linked debentures (ELDs) are one of this kind of investment where investor get protection of capital invested with equity based returns. In simple words, ELDs offers guaranteed return of principal …

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Budget 2012 : Deduction Of Rs 20,000 On Tax Saving Infrastructure Bonds u/s 80CCF Not Available For FY 2012-13

Budget 2012, is quite disappointing as the overall impact of this budget is not favorable to the pockets of tax payers. Changes announced in the budget speech regarding, “tax saving limit under section 80C”, “increase in tax slab” and “deduction under section 80CCF for tax saving infrastructure bonds” was not as expected. Change In Tax Saving Limit :- Deduction of …

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Why You Should Go For Term Plans With 50 Lacs Cover Or More?

If you are planning to buy an online term insurance than here are few things that you should consider before going ahead with your purchase. The very first thing that you should consider while buying a term plan is your Sum Assured (Risk cover against death of the insured). Try to keep your sum assured higher than Rs 50 lacks, …

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SBI Offered Old Home Loan Borrowers To Switch To New Lower Interest Rates

State Bank of India (SBI) has decided to offer a facility to their existing home loan customers where they can switch to lower interest rate i.e current interest rate. SBI introduced this service to retain their old customers who are paying higher interest rate on there home loan as compare to new customers. SBI customers who took home loan at …

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Revised Interest Rates On Small Saving Schemes – PPF, NSC & Post Office Savings W.E.F 1 April, 2012

After reducing interest rates on Employee Provident Fund (EPF) and then rising service tax and excise duty from 10% to 12% in budget 2012, finally government of India has announced a good news for individuals. With effect from April 1, 2012, the interest rates of small saving schemes such as Public Provident Fund (PPF), National Saving Certificate (NSC), Post Office …

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Budget 2012 & Tax Impact On Your Life / Health Insurance Policy

Budget 2012, there are few changes introduced in the tax provisions of insurance premiums and returns. The main reason of introducing these changes is to make insurance buyers buy insurance policy for risk cover instead of tax saving or investment instrument by purchasing insurance cum investment plans. Along with change in tax provisions, budget 2012 has also increased the service …

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Tax Calculator : Compute Your Income Tax Liability For FY 2011-12(AY 2012-13)

Now you can compute your tax liability on the official website of Income tax department of India. This income tax calculator helps you calculate your tax liability based on your taxable income. This calculator works for Individuals, Hindu Undivided Families (HUF), AOPs/ BIOs, Firms, Domestic Companies, Foreign Companies, and co-operative societies. All you need to know is your ‘Net Income’ …

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1% Tax Deduction (TDS) On Property Sale From 1st October, 2012

Tax deducted at source (TDS) on sale of immovable property will be applicable from October 1st, 2012. As per the announcement in budget 2012, w.e.f. 1st October every one making payment against purchase of immovable property (other than agricultural land) shall deduct 1% tax on the total amount if the value of the property is more than Rs 50 lakh …

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Live Budget 2012 : Highlights Of Indian Union Budget 2012

Cabinet has approved Union Budget 2012 and will be announced by finance minister Pranab Mukherjee in another few minutes i.e at 11 am on 16th March 2012. We will keep a close eye on every announcement at union budget and update you live. So stay with us and don’t miss any announcement which can benefit or affect your pocket this …

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