The rising spread of coronavirus has led complete lockdown in India. All companies except those in essential services have told employees to work from home. Even mutual fund houses are operating with minimum staff in the office. Last week, Association of Mutual Funds in India informed the market regulator SEBI the likely difficulties in mutual […]Continue Reading..
Central government pensioners to get three months’ pension in advance. Senior citizens, differently-abled, widows will get three-month advance pension in the first week of April, officials said on Friday, according to PTI. The announcement comes in the wake of a slew of relief measures proposed by the government to combat the outbreak of novel coroanvirus […]Continue Reading..
Most people are aware that they can save tax under section 80C by investing in notified schemes such as PPF (Public Provident Fund), ELSS (Equity-linked saving scheme) or insurance. However, you should be aware that there are certain expenditures that are permitted under section 80C of the Income Tax Act, 1961 which can help you in saving […]Continue Reading..
The government has announced that taxpayers have time until June 30, 2020 to complete their tax-saving exercise for FY2019-20. The earlier deadline was March 31, 2020. The finance minister, Nirmala Sitharaman, at a press briefing said , “Due dates for issue of notice, intimation, notification, approval order, sanction order, filing of appeal, furnishing of return, […]Continue Reading..
Leading companies in India are proactively assuring employees that they will be taken care of financially while the lockdown continues or even if it gets extended. From paying advance salary to both regular and contractual workers a week before the usual salary credit date to honouring joining date commitment for new joinees even if they cannot come on board, […]Continue Reading..
The Reserve Bank today permitted banks, NBFCs (including housing finance companies) and other financial institutions to allow a three-month moratorium on payment of installments on term loans in view of the disruption caused the coronavirus outbreak. Deferment will not impact credit history of the borrower, RBI said. Financial institutions have been allowed to shift repayment schedule and […]Continue Reading..
As Reserve Bank of India (RBI) Governor Shaktikanta Das cut the repo rate by 75 basis points to 4.4% today, Union Finance Minister Nirmala Sitharaman reminded banks that they need to follow suit by quickly transmitting the benefits. “Appreciate @RBI @DasShaktikanta’s reassuring words on financial stability. The 3 month moratorium on payments of term loan […]Continue Reading..
Nirmala Sitharaman in her press briefing today made two major announcements with regards to members of the Employees’Provident Fund Organisation (EPFO). As per the announcements, made in an attempt to tackle the pandemic situation, the government will relax the Employees’ Provident Fund (EPF)withdrawal rules to enable easier access to the money and also pay both […]Continue Reading..
Many banks now offer e-wallets that allow customers to make payments in one click, using their mobile phones. It is a safe and convenient mode of making payments to service providers and also for transferring money to your contacts. Download application To get started, you have to download the e-wallet application from Google Play for Android-based phones or Apple App Store for […]Continue Reading..
Recently, SBI released the official statement to waive charges for non-maintenance of the Average Monthly Balance (AMB). This measure step is applied to their total bank accounts in the country. Currently, India’s largest bank, SBI has 44.51 crore bank accounts registered in it. Before this announcement, savings bank account customers were forced to maintain an […]Continue Reading..