Finance - Page 4

8% Interest on Deposit under non-government PF, superannuation & gratuity

Notification No. 5(2)-B(PD)/2019 (03/04/2019)

Govt notifies 8% interest rate on Deposit made under non-government PF, superannuation and gratuity w.e.f. 1st April, 2019. MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 3rd April, 2019 No. 5(2)-B(PD)/2019.—Itis hereby notified that the deposits made under the Special Deposit Scheme for Non-Government ...

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Regulating the Unregulated Deposits

In light of various Ponzi/ chit fund schemes, the President of India promulgated the Banning of Unregulated Deposit Schemes Ordinance, 2019 on 21 February, 2019. By bringing this ordinance into effect, the Government has cracked down on unregulated deposit schemes, which lured investors with high interest rates and duped them of their inv...

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Top reasons why ELSS funds are getting popular

When it comes to tax saving investments, investors look for liquidity and high returns. An Equity-Linked Saving Scheme (ELSS) is a category of mutual fund that serves both purposes. A tax saver mutual fund is eligible for deduction under Section 80C of the Income Tax Act, 1961. This article lists several other reasons why ELSS […]...

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Format of Balance sheet for CA Inter/B.com

This format of Balance sheet under revised schedule VI if companies act is different & easy from others format on internet. This has practical approach & very easy, just fill the annexure. This is highly recommended for those CA inter or CMA inter or B.Com pass who works in an organisation....

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Interest rates of NSC, PPF, KVP, SSAS, SCSS for Q1 of FY 2019-20

rates of interest on various small savings schemes for the first quarter of financial year 2019-20 staring Ist April, 2019 and ending on 30th June, 2019 shall remain unchanged from those notified for the fourth quarter of financial year 2018-19....

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Know about CIBIL Score

Article explains what is CIBIL Score, What are the things which impacts CIBIL Score, How much Score holds well and What to do to improve CIBIL score. Most of the time we hear about CIBIL score. Many of the loan seekers face this issue while applying loan, that there CIBIL score is bad. I am […]...

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What is a Letter of credit? How it is useful in trade?

Article explains What is a Letter of credit, Parties involved in letter of credit, Step by Step procedure for issuance of a letter of credit, What are the different types of letter of credit, Difference between Letter of Understanding(LOU) and LOC, What was PNB scam? Why LOU was banned by the RBI and How a […]...

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7 Rules to Follow When Taking a Loan

If we had enough money for all our needs, the world would have been a happy place. But the reality is different. Needs of modern households are constantly growing but earnings are not growing in the same proportion. This necessitates the need of loan to meet various expenses like buying a house, arranging a grand […]...

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Top Small Business Loan offered by the Government

The MSME (Micro Small and Medium Enterprises) sector in India is expanding at a very fast pace and because of their increasing expansion, the Government time and again introduces new business loan schemes for this sector. The loan schemes are initiated through some of the programmes as mentioned below: A. MUDRA (Pradhan Mantri Mudra Yojan...

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Check if Your Deposit is Illegal

President of India has promulgated the BANNING OF UNREGULATED DEPOSIT SCHEMES ORDINANCE, 2019 w.e.f. February 21, 2019. This law has been brought to safeguard the hard-earned money of ignorant depositors from scrupulous deposit takers. Scope: – This ordinance is applicable to every person in respect of following three offences: R...

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