The monthly interest earned on Rs. 1 lakh in a Savings Account depends on the interest rate offered by the bank. For example, if the interest rate is 7% per annum, the monthly interest would be: Interest= 1,00,000 x7%/12 = 583.33 So, you would earn approximately Rs. ...
To encourage the research, development, and innovation (R&D&I) in sunrise industries, a corpus of 1 lakh crore (INR 1 trillion) will be set aside for 50-year low-interest loans. With over 750 million users, the Internet has had a major impact on India, transforming the way people live...
In India, Equity Mutual Funds are held for over a year. Long-term capital gains (LTCG) tax is levied on them that are currently charged at 10% on gains exceeding ₹1 lakh per financial year. For investments held for one year or less, short-term capital gains (STCG) tax applies at ...
LTCG is the equity investments that are redeemed after 12 months. They are tax-free up to Rs. 1 lakh in a financial year, beyond which they attract taxation of 10% (plus 4% cess) without any indexation benefit. However, please note there are also tax-saving equity funds su...
What is good salary in India? This article discusses the national average salary in India, median salary in India, among other information.
Which is the best bank to take out an education loan with, without collateral security, at a low interest rate? What are some investment schemes in India giving better returns than fixed deposits with minimal risks? What risks do lenders run? How can lenders protect th...
In India, the MAB requirement for a current account can range from as low as Rs. 5,000 to as high as Rs. 1 lakh or more depending on the bank and the type of account. Some banks may offer a zero-balance current account for certain categories of customers such as startups or small...
The foremost benefit of a Home Loan is the Income Tax deduction you can claim on the interest and principal repayments. You can claim up to Rs 1.5 lakh on the principal repayment u/s 80C, up to Rs 2 lakh on interest repayments u/s 24B, up to Rs 2 lakh on interest repayment in ...
What is GST? The full form of GST isGoods and Services Tax. It is an indirect tax levied on the supply of goods and services across India. This comprehensive tax system is designed as a multi-stage, destination-oriented tax applied at each point of value addition in the supply chain. By...
₹ 10 lakh The actual amount of gratuity received One-half month’s salary for every year of employment that the employee has completed with the employer Payment of gratuity to your employees Regardless of your long-serving staff loyalty, there are some scenarios in which you can withhold the...