Money

No IT return needed for under Rs.5 lakhs income

April 19, 2011

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 [...]

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Filing Income Tax Online

March 24, 2011

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 [...]

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Paying Wealth tax in India

March 12, 2011

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, [...]

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LIC Samridhi Plus ULIP

February 28, 2011

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 [...]

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LIC Bima Account 2 details

February 3, 2011

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 [...]

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LIC Bima Account 1

February 3, 2011

Here is a new policy from LIC of India, LIC Bima Account 1. This is a Non-linked insurance plan with certain ‘Guaranteed’ returns. You also don’t have to undergo any Medical checks to be allowed in to this policy. Unlike most insurance plans, the premiums you pay in the policy will be put into an [...]

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Transferring money using State Bank ATM card

December 13, 2010

You don’t have to go to your State Bank branch to transfer funds (money) to your friend of relative, nor do you need to have an Internet Banking account. You just need a State Bank ATM card (for example, SBI ATM card or SBH ATM card). You can transfer money from your ATM card (that [...]

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