The Reserve Bank of India (RBI) has mentioned some days when the banking operations will remain closed in the month of March 2021. However, it must be noted that the bank holidays vary in various states as well not observed by all the banking companies. Banking holidays also depend on the festivals being observed in […]Continue Reading..
Finance minister Nirmala Sitharaman announced in Budget 2021 that interest on employee contributions to provident fund of over ₹2.5 lakh per annum would be taxed, starting from 1 April. Up to ₹2.5 lakh has been kept as the deposit limit for which interest is tax exempt, finance minister said. At least 12% of an employee’s basic salary and performance […]Continue Reading..
State Bank of India (SBI) offers pension loans to senior citizens and family pensioners receiving a regular pension from the central or state government through the bank. This personal loan can be used by pensioners to fulfill various personal financial needs such as funding your child’s marriage, buying your dream home, planning a trip or […]Continue Reading..
Salary hikes this 12 months may not translate into larger cash-in-hand for workers if organisations select to pay extra in provident fund (PF) contributions as a result of new definition of wages proposed by the federal government, confirmed a examine. While 88% of corporations mentioned they intend to extend pay in 2021, up from 75% final 12 months, […]Continue Reading..
Income tax return filing deadline is July 31 and if you have filed your return, the last step is to verify it. According to the Income Tax Department, if you have filed your ITR but have not verified it, then the return will not be considered valid. Once you have filed your return, you can […]Continue Reading..
In the Union Budget 2021 announced by the Finance Minister, there has been put new tax limitation. And for any contribution to PF over Rs. 2.5 lakh in a year, interest accrued on it will now draw tax implication. EPF or employee provident fund has been started off a social benefit scheme towards which both […]Continue Reading..
Amid the fall in interest rates offered by banks, the Life Insurance Corporation of India (LIC) has launched a non-linked, non-participating, individual savings plan called Bima Jyoti. The plan offers a combination of protections and savings. While it will provide life cover in case of unfortunate death of the policyholder, it also provides guaranteed lumpsump […]Continue Reading..
7th Pay Commission Latest News: In what could be a double bonanza for central government employees, the Modi government is planning to increase Dearness Allowance (DA) of these employees by 4 per cent and also clear arrears. It has been reported that central government employees could get these benefits well before Holi. This also means that if the […]Continue Reading..
The Reserve Bank of India (RBI) has made several new guidelines regarding the use of debit cards and credit cards effective from October 1, 2020, to make the transaction more secure and safer. The RBI has directed all banks to not unnecessarily give international facilities to customers’ cards unless the customer himself demands it. The […]Continue Reading..
What is meant by cancellation of registration? Cancellation of GST registration simply means that the taxpayer will not be a GST registered person any more. He will not have to pay or collect GST. Consequences of Cancellation The taxpayer will not pay GST anymore For certain businesses, registration under GST is mandatory. If the GST registration […]Continue Reading..