Yesterday when I was reading Times of India my eyes got stuck onto the ad of SBI which showed 17.01% p.a. in big highlighted box on its Tax Saving Deposits. At first instance I was amazed by the rate SBI is offering, like any other person I also thought that it is a rate of […]
Banks to publish photos, details of loan defaulters in newspapers
Adopting a name and shame policy to make borrowers pay their dues, banks have decided to publish in newspapers photographs and details like names and addresses of willful loan defaulters and market leader SBI has taken the lead in doing so. Besides, banks would also publish photographs, names and addresses of guarantors of such defaulters […]
SBI Interest Rates as on 1st April 2012 for Perquisites Valuation
As per Income Tax rules if Interest free/concessional loan is provided by the employer to employee , it will be treated as perquisite to the employee and it as per Income tax rules , it valuation should be done and added to the income of the employee. For interest free/concessional loan valuation interest rate of […]
Online EPF Registration for Employer
Employees Provident Fund The parliament of India passed the EPF & MP Act, 1952 in 1952 and was brought into operation on March 4th, 1952. There were number of legislative meetings to set the direction and the outcome was Employees’ Provident Funds & Miscellaneous Provisions Act, 1952. Following are the three schemes that are currently […]
“Mobicash Easy”: Hassle Free way to Transfer Money without KYC
State Bank of India has rolled out mobile wallet service MobiCash Easy on a pilot basis in Mumbai and Delhi. “We have launched mobile wallet service in Mumbai and Delhi which will offer services like balance enquiry, mini statement, funds transfer, mobile top-ups, DTH recharge, bill payment among others. We will roll out this service […]