Friday, December 6, 2013
Thursday, December 5, 2013
|IINSS - A Disappointment|
Let us now evaluate IINSS-C on the basis of the FIVE parameters on which any investment must be evaluated (as I have done for the 51 most common Investment Products in my latest publication 'Your Guide to Finance and Investments').
Wednesday, December 4, 2013
|RBI announces IINSS issue|
While the issue dates would be announced shortly, here are the salient features of IINSS-C.
Tuesday, December 3, 2013
|Earn a few more pennies|
One is the savings account deposit where you have complete freedom to withdraw the money anytime. Second, of course, is the Term deposit, wherein you keep the money for a pre-defined period.
It is now quite sometime since RBI stopped fixing the interest rates that the banks could offer on both savings and term deposits. Therefore, now when you wish to open a savings account or make a term deposit, you have search around to see who is offering the best rates.
Monday, December 2, 2013
|Enter PIN for shopping on debit cards|
Till now, when shopping at the merchant outlets or buying petrol or dining at the restaurants through your debit card, all you had to do was to sign the 'charge slip' generated on swiping the card on the Point of Sale (POS) terminal.
Friday, November 29, 2013
|HRA Tax Exemption|
The exemption allowed is minimum of the following:
a) The actual amount of HRA received
b) Actual rent paid minus 10% of the salary
c) 50% of the salary (in a metro city) / 40% of the salary (for any other city)
(Note: Here the definition of ‘salary’ includes your basic + DA, but excludes all other allowances and perquisites).
The balance HRA, if any, is added to your taxable income and taxed as per your income slab.
Thursday, November 28, 2013
|Issue of Tax Free Bonds|
The details of the issue are as under:
Bond Tenor : 10-year, 15-year and 20 year Bonds
Rate of interest : 8.66% for 10-yr bonds, 8.73% for 15-yr bonds and 8.91% for 20-yr bonds
[For retail investors i.e. individuals, HUFs and NRIs investing upto Rs.10 lakhs. Others will get 0.25% lower rate.]
Interest payment : Payable annually