If you are a salaried employee, then chances are that you have an Employee’s Provident Fund (EPF) account that you regularly make contributions from your salary deductions. You might know what the latest EPF interest rates are, but do you knowhow to calculate interest on your EPF account b...
Know how to calculate credit card interest rates easily & what it means. Understand when you start to pay interest on a credit card & clear all your doubts.
Up to ₹1.5 lakh Advantages of ELSS Mutual Funds Here’s a look at the advantages of ELSS Mutual Funds: Shortest lock-in ELSS has the shortest lock-in period of three years. Tax-saving fixed deposits have a five-year lock-in, while the PPF has a 15-year maturity. All in all, ELS...
Build a strong financial foundation –Individuals make investments to increase their wealth. This implies that people gradually invest their savings after they save them. The investment proceeds, whether they be dividends or interest, can be reinvested in the same financial instrument or even something...
Step 4: Calculate Your Savings — Do You Save Anything? After you know how much money you get and how much you spend, you can find out how much you can keep. This is called savings. It is like having a jar where you put money in every time you do not spend it all. At the end...
ELSS and Public Provident Fund, both qualify for tax saving up to INR 1.5 lakhs under Section 80C of Income Tax Act 1961. ELSS has higher volatility as it invests in equity and hence higher returns. PPF has lower volatility and lower returns than ELSS funds as it invests in debt securities...
Advance Tax: If the tax on other income is above Rs. 10,000 in a year, the assessee is required to calculate and deposit the advance tax. This advance tax is to be paid on a quarterly basis such as in, June, December, September and March....
Step 3: Calculate the payable tax amount according to the applicable tax slab.Step 4: Now, subtract the TDS amount that is deducted or the TDS, which will be deducted as per the tax slabs for different earnings.If the tax liability at any time after the deduction of TDS exceeds Rs.10,...
What effect does the rate of inflation have on interest rates? And what does that in turn do to GDP? If the CPI today is 240, then what is the inflation rate since the base year? a. we need to know the CPI of the base year to calculate the infl...
How to calculate the price elasticity Starting from long-run equilibrium, use the basic (static) aggregate demand and aggregate supply diagram to show what happens in both the short run and the long run when there is a crash in property m ...