The Income Tax rates for FY 2012-13 was disappointing for many who expected the new limit for tax exemption would go to Rs. 3 Lakhs, but if you look history of Income tax, probably you would be a Happy man! Ask your father and you would realize how lucky you are when it comes to [...]
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If you are wondering how much Income tax you would you save in next year 2012-13 post Budget 2012, here is a calculator for you in excel format. Below is the Income Tax Slab for FY 2012-13. A significant difference is there is no more distinction between men and women as far as taxes are concerned. Word of [...]
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Income Tax is one thing which every salaried man on the street is interested in. The good news is the Income Tax slabs has been altered by the Finance Minister Pranab Mukarjee in Budget 2012 today. Now people would be able to save upto Rs. 22,600 in income tax depending on which tax slab they fall in. [...]
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EPF (Employee Provident Fund) Interest Rate has been declared today for Financial Year 2011 – 2012. The bad news is it has been cut by 1.25% to 8.25%. This is first time that the interest rate for EPF/VPF is less than PPF (Public Provident Fund) and would affect about 6 crores subscribers. Below figure compares [...]
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ELSS (Equity Linked Saving Scheme) also popularly known as Tax Saving Mutual Funds are one of the best investments you can do to save tax and create wealth in the long run. But unfortunately according to the proposed direct tax code ELSS would be a thing of past and it would no more be eligible as [...]
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Railway Budget 2012-13 was presented by Railway Minister Dinesh Trivedi today. Below are the highlights of the same from the perspective of common man. Tariff Proposals: Passenger fares increased by 2 paise per km for suburban and ordinary second class; 3 paise per km for mail/express second class; 5 paise per km for sleeper class; 10 [...]
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As many of you might be aware about the EPF (Employee Provident Fund) & VPF (Voluntary Provident Fund) Interest rates are decided by Employees’ Provident Fund Organisation (EPFO) and the government every year. For the last financial year 2010 – 11 EPF interest rate was 9.5%, a surprising bonus of 1% for all the EPF & VPF [...]
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Retirement planning is one of the most important financial goals in life of a person. Most of us have heard about Employee Provident Fund (EPF) and (Public Provident Fund) PPF for building retirement corpus but do you know how can you leverage Voluntary Provident Fund (VPF) to add zing to your corpus? What is Voluntary [...]
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If you are looking for investing your money in debt instruments, it’s the right time to do so. RBI (Reserve Bank of India) on March 9, 2012 has reduced CRR rates by 0.75%. This means banks would have more money to lend and so loan rates are expected to go down and so are fixed [...]
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I came across two small articles in today’s Time of India, New Delhi edition about how fraudsters have dumped innocent people worth lakhs in cyber world. I am sure all of us have received mails & SMSes regarding some million dollar lottery or a job offer too good to be true. But I always have [...]
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Following the footsteps of HDFC Bank, India’s largest private sector lender, ICICI Bank, has increased service charges on savings bank accounts and has also imposed a fee on mobile transfers. Starting April 2012, ICICI Bank will charge a penalty of Rs 350 for non-maintenance of a minimum monthly balance. The bank earlier charged Rs 750 [...]
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There are advantages of being a woman – both financially and other wise. But this post focuses on the advantages the women have in the financial world. Income Tax Benefit: Under the current tax regime, women pay less tax than men. For the present financial year (2011 – 12), the tax exemption limit for women [...]
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PNB Sugam Fixed Deposit Scheme provides flexibility among existing Fixed Deposit Schemes of PNB. The depositor can withdraw in multiples of Rs. 1,000 at any time before maturity without canceling the original deposit receipt and earn Interest on the remaining amount at the contracted rate. Account can be opened with a minimum deposit of Rs. 10,000 [...]
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If you have still not invested in infrastructure bonds and still looking for investing for saving income tax , you have four options: IFCI Infrastructure Bond – Series V L&T Infrastructure Bond PFS Infrastructure Bond IDFC Infrastructure Bond – Tranche III Just in case you missed it, an investment in infrastructure bonds under Section 80CCF is an additional [...]
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Income Tax Calculator for FY 2012-13 (Excel Download)
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