No Charges on Non-Maintenance of Minimum balance in saving account

No Penalty for Non-Maintaining Savings Account Minimum Balance without Informing Customer

Inform customers about fall in minimum balance in Savings Account : RBI to banks In a big relief to the savings bank account holders, Reserve Bank of India has directed all banks not to penalize customers who failed to meet the minimum balance criteria without informing them. As per the guidelines, Banks...
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Best Tax-Saving Instrument

Best Tax-Saving Scheme: PPF vs. Bank FD vs. KVP vs. NSC

Best Tax-Saving Scheme u/s 80C The first step towards Tax Planning is to look out for tax-saving instruments which are eligible for deduction under section 80C. The deductible investment list is exclusive with a threshold limit of Rs.1,50,000. This restriction makes it utmost necessary to opt the best...
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Kisan Vikas Patra 2014

Kisan Vikas Patra Relaunched: Double Money in 100 Months

Kisan Vikas Patra 2014: Double Money in 8 years and 4 months Once popular, saving instrument Kisan Vikas Patra has been launched by the Government yesterday, promising to double money in 100 months i.e maturity of the certificate will be 8 years and 4 months. Recommended Read: Kisan Vikas Patra 2014...
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Service Tax on Money Remittance to India

Service Tax on Money Remittance to India

Service Tax on Money Sent to India Central Government vice Circular No. 180/06/2014 – ST has expanded the scope of service tax has by taking service of “Inward remittances from Abroad to Beneficiaries in India” under the purview of service tax. Last year the total of inward remittance was USD 65...
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Transfer or Gift Share in Demat Form

How to Transfer or Gift Shares in Demat Form?

Transfer or Gift Shares in Demat Form Are you holding shares and would like to gift it to your spouse or children or any other person? Yes!! Then read the article below explaining the: Procedure for gift or transfer of shares in demat form. Taxation on the Gift of Share. Taxation on income from the...
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Now Tax Saving Bank Fixed Deposit upto Rs.1.5 lakhs u/s 80C

Bank Fixed Deposit Deduction increased to Rs.1.5 under section 80c Bank Fixed Deposit is one of the most opted tax saving instrument under section 80C while tax planning. To make this more alluring Central Government of India has via notification no.  63/2014, Dated: November 13, 2014, increased the...
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Partially Freeze KYC Non-Compliant Accounts

Banks can Partially Freeze KYC Non-Compliant Accounts

Partial Freezing of Bank Accounts Reserve Bank of India has asked Banks to Partially Freeze Accounts of the customers who has yet not complied with the KYC Norms. What is KYC? KYC stands for Know Your Customer which was introduced in 2002 by Reserve Bank of India. In simple words KYC is a process to...
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