Going to buy gold worth Rs.5 lakhs or more? Don’t forget to take your PAN card. IT Department has made it mandatory for anyone who is looking to buy gold worth Rs.5 lakhs or more from 1 July 2011. This ruling was sure to come for obvious reasons. Most of gold purchases would happen in cash and hence there are ... Read More »
Category Archives: Money
Axis Bank Priority account
‘Bank comes home if you are an Axis Bank priority account holder’. You must have been hearing this quite often these days; don’t you? Yes, its Axis bank’s specialized account for the ‘privileged few’. There are quite a few differences between a normal savings bank account and a ‘priority account’, some of which are listed below: A priority platinum debit ... Read More »
No IT return needed for under Rs.5 lakhs income
Good news for Tax payers across the country whose income is less than Rs.5 lakhs. With effective from this year itself (assessment year 2011-12), tax payers with annual income is less than Rs.5 lakhs need not file income tax returns. That’s one huge burden off the shoulders of approximately 80 lakh employees and professionals in India. But, in case you ... Read More »
Filing Income Tax Online
This is not a comprehensive guide on how to file your IT return (also see: Paying Advance tax), but just an overview on how you should go about. Although you can do it using many private websites for some money, you can do it for free using the Official Income tax India eFiling site. Visit that site, and register there ... Read More »
Paying Wealth tax in India
Although this may not yet apply to many India citizens at this stage, it is always good to know that apart from Income tax, there is also one ‘Wealth tax’ which is payable by Individual, HUF or a company yearly. At present, any ‘Net Wealth’ which is above Rs.15 lakhs is chargeable in other words, Wealth tax exemption limit is ... Read More »
LIC Samridhi Plus ULIP
If you know LIC’s Wealth plus plan that was launched last year, you almost know about its new Unit linked plan, Samridhi plus. It basically safeguards your investment by assuring that the NAV of your funds will have a minimum of Rs.10 value. On the higher side, while deciding the maturity amount, your NAV can be either the highest value ... Read More »
LIC Bima Account 2 details
We’ve earlier saw LIC Bima account 1. Now here’s LIC Bima account 2, which is similar to the former, with few differences in policy terms. The first thing you may note is that you may need to undergo a Medical test before taking the policy. A guaranteed return, like Bima account 1, is applicable here too. If you continue to ... Read More »