Upon choosing the type of ELSS fund, the investor can invest either through a lump sum amount orSIPs. ELSS mutual funds are suitable for small investors as well, who wish to invest small and regular amounts to save tax. However, if an investor has a lump sum amount, they can also inve...
This saying perfectly describes Recurring Deposits, a type of bank account where you invest a fixed amount of money at regular intervals over a specified period. Each deposit you make is like a drop of water that, over time, accumulates into a larger amount (like the vast ocean). This habi...
1961 allows tax exemptions for investments in options like Unit Linked Insurance Plans (ULIPs), Public Provident Fund (PPF), and Equity Linked Savings Schemes (ELSS). These investments can reduce your taxable income, leading to lower tax bills. ...
Decide on the amount you wish to invest and submit your order. You may also have the option to establish automatic recurring investments if you prefer. Although these investments are typically for the long term, it’s a good idea to periodically review the fund’s performance and make adjustme...
Following this, dividend income will be treated like normal income, which means that it will be taxable according to your income tax slab rate. If you earn an equity fund dividend of more than Rs. 5000, then the amount will be subject to 10% TDS at source if your PAN has ...
Ans.To invest in SIP, select a mutual fund scheme, set a fixed investment amount, choose the SIP frequency, and register through a fund house or investment platform. 19. What are tax saving schemes? Ans.Tax saving schemes, like ELSS, offer tax benefits under Section 80C of the Income Tax...
As Gross Taxable Salary 6,07,200 falls in the highest tax bracket. This tax amount includes education cess too. Assumption: Employee does not make any tax saving investment. Tax based on Assement Year 2011-2012 : 57,103. For tax estimatorTax Calculator isis very helpful. ...
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What is the minimum amount required to open a current account in the State Bank of India? What would be the average tax rate for a person who paid taxes of $14,645 on a taxable income of $50,500? What would be the average tax rate for a person who paid taxes of $6,...
A partnership is a corporation or a business that is formed through the agreement of two or more persons who agree to contribute a certain amount of money as the capital, and on the manner to share the profits and losses made by the business....