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Insurance on Bank Fixed Deposits

By   /  August 26, 2013  /  Financial Education  /  No Comments

You will be happy to know that Indian Government provides an Insurance cover of up to Rs.1 lakh on deposits made by you in the bank. If a bank goes into liquidation, the Government is liable to pay to each depositor the amount of his deposit up to Rupees one lakh within two months from the […]

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All about Bank Fixed Deposit

By   /  August 25, 2013  /  Financial Education  /  No Comments

A fixed deposit (FD) is a financial instrument provided by Indian banks which provides investors with a higher rate of interest than a regular savings account.   Tenure: The tenure of an FD can vary from 10, 15 or 45 days to 1.5 years and can be as high as 10 years.To compensate for the low liquidity, FDs offer higher rates of interest […]

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Mutual Fund Consolidated Account Statement-FAQ

By   /  August 24, 2013  /  Mutual Fund  /  No Comments

What is a Consolidated Account statement (CAS) Consolidated Account Statement is a single account statement that consolidates financial transactions in all folios of an investor across all schemes of all mutual funds.   Why is Consolidated Account statement (CAS) being issued now? SEBI states that “the asset management company shall ensure that consolidated account statement […]

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Automatic Renewal of Fixed Deposits

By   /  August 24, 2013  /  Financial Education  /  No Comments

While making a fixed deposit with bank, one should upfront mention what should happen with his fixed deposit on maturity. If not mentioned, a matured term deposit will be renewed on its due date itself, for further period of one year at the applicable rate prevailing on the due date, if not instructed otherwise. In respect […]

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In whose name Insurance should be bought in order to avail income tax benefits.

By   /  August 23, 2013  /  ALL ABOUT INSURANCE  /  No Comments

Income Tax Benefits of life insurance premium is allowed on premium paid on life of: 1. Self 2. Spouse 3. Children even if they are not dependent on father or mother However deduction on life insurance paid in the name of once parents will not be allowed under section 80 C.   How much Tax […]

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List of Mutual Funds Toll Free Number

By   /  August 22, 2013  /  Mutual Fund  /  No Comments

  (4413)

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List of Mutual Fund Companies in India

By   /  August 22, 2013  /  Mutual Fund  /  No Comments

Click on the website & you will be routed towards the company website   (4835)

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Different types of mutual fund schemes

By   /  August 22, 2013  /  Mutual Fund  /  No Comments

Schemes according to Maturity Period A mutual fund scheme can be classified into open-ended scheme or close-ended scheme depending on its maturity period.   Open-ended Fund/ Scheme An open-ended fund or scheme is one that is available for subscription and repurchase on a continuous basis. These schemes do not have a fixed maturity period. Investors […]

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If schemes in the same category of different mutual funds are available, should one choose a scheme with lower NAV?

By   /  August 22, 2013  /  Mutual Fund  /  No Comments

Some of the investors have the tendency to prefer a scheme that is available at lower NAV compared to the one available at higher NAV. Sometimes, they prefer a new scheme which is issuing units at Rs.10 whereas the existing schemes in the same category are available at much higher NAVs. Investors may please note that in […]

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FAQ On Salary Income

By   /  August 19, 2013  /  Random Articles  /  No Comments

What is considered as Salary income? Whatever is received by an employee from an employer in cash, kind or as a facility [perquisite] is considered as Salary.   What is meant by an employer-employee relationship? If a person has the right/power to hire and fire another, then he is an employer of the latter.   […]

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Why are Re.1, Rs.2, Rs.5 banknotes not being printed?

By   /  August 19, 2013  /  Random Articles  /  No Comments

Volume-wise, the share of such small denomination banknotes in the total banknotes in circulation was very high   but in terms of value they constituted a very small percentage. The average life of these banknotes was found to be less than a year. The cost of printing and servicing these banknotes was, thus, not commensurate with […]

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Star Series Bank Notes

By   /  August 19, 2013  /  Random Articles  /  No Comments

What is a “star series” banknote? Fresh banknotes issued by Reserve Bank of India till August 2006 were serially numbered. Each banknote bears a distinctive serial number along with a prefix. The prefix consists of numeral and letter/s.  The banknotes are issued in packets containing 100 pieces. The Bank has adopted the “STAR series” numbering […]

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TDS on Purchase of property

By   /  August 19, 2013  /  All About House  /  No Comments

The Central Board of Direct Taxes had notified the new provision of Tax deducted at source on immovable property. The amendment is effective from June 1, 2013. With developers, builders, residential societies and associations starting up with the process, this article aims to provide you with procedure that is to be followed to pay the […]

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Seven smart tips for internet banking

By   /  August 19, 2013  /  Random Articles  /  No Comments

Whether it is bill payments, funds transfer or creation of a fixed deposit, internet banking allows you to do it in a fast and convenient way. Instead of going to the bank and waiting in an unending queue, internet banking has made all banking functions accessible through a few clicks. However, this facility needs to […]

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Tax treatment of Income from House Property

By   /  August 18, 2013  /  All About House  /  No Comments

  Generally, income from residential property is presumed to be income from rent. It is quite possible that the residential property does not give you any rent as it might be vacant or self-occupied. However, from the perspective of the Income-Tax Act, you will still be considered to have income from the property, because what is […]

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Compare Fixed deposit rates of banks

By   /  August 17, 2013  /  Financial Education  /  No Comments

Planning to invest your money in fixed deposit. Have a look at the bank interest rates of banks in India & make a smart move by getting the best deal by comparing the rates offered by various banks. Click on the bank name & you will be routed directly towards the interest rate section of […]

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How to complaint against your bank

By   /  August 16, 2013  /  Financial Education  /  No Comments

Step 1: If you have a complaint against only scheduled bank , you can lodge a complaint with the bank concerned in writing in a specific complaint register provided at the branches  on a sheet of paper. Ask for a receipt of your complaint. The details of the official receiving your complaint may be specifically […]

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List of Bank Toll Free No’s

By   /  August 15, 2013  /  Financial Education  /  No Comments

List of Banks Toll Free No’s   (4539)

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NRI – Non Residential Indian

By   /  August 15, 2013  /  NRI Investments in India  /  No Comments

Who is an NRI? An individual shall be deemed to be a non-resident in following cases: When he stays in India for less than or upto 182 days during the preceding financial year. The period of stay may not be ‘continuous’ and the same shall be calculated by adding up the days of his stay […]

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