You walk into a restaurant and take your table. A few minutes later the waiter comes and places a plate of chicken biryani in front of you. 'Sir, this is a great biryani, prepared by one of the best chefs in town. I am sure you will enjoy it' exhorts the waiter. What would you do?
Many employers provide reimbursement to their employees, as part of the salary package, for the medical expenses incurred by them on themselves or their family members. This amount is entitled to some tax exemptions. Some of the key provisions in this regard, as per the Income Tax Act, are detailed below.
India Infrastructure Finance Company Ltd., a Govt. of India enterprise, has announced the Tranche 2 of its Public Issue of Tax Free Secured Redeemable Non-Convertible Bonds for the Financial Year 2013-14. 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
As per Income Tax Rules, the perquisite value of the car that has to be added to your income is as under. (1) When employer provides the car (a) Car used wholly and exclusively for official duties Value = Nil
Last week, RBI announced the details of the much-awaited Inflation Indexed National Saving Securities for the retail investors; to be launched in the 2nd half of this month. These would be cumulative in nature and hence are designated as Inflation Indexed National Saving Securities - Cumulative or IINSS-C. Non-cumulative securities would be introduced in due course of time. While the issue dates would be announced shortly, here are the salient features of IINSS-C.
As you are aware, there are two types of deposits you can keep with the bank. 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.