RBI/2014–15/494 IDMD(DGBA).CDD.No.4052/15.02.006/2014–15 March 11, 2015 Sukanya Samriddhi Account We forward herewith a copy of the Government of India Notification No. G.S.R.863(E) dated December 02, 2014 regarding the Sukanya Samriddhi Account for necessary action at your end. The Government of India, vide this…
Category: Finance
What is Compound Interest & Download Compound Interest Calculator
Compound interest is interest added to the principal of a deposit or loan so that the added interest also earns interest from then on. Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan. Compound…
My Portfoilo Basic Version- A Excel Utility for maintaining your Share Market portfolio in Realtime
a No of query has been received on the latest version of My Portfolio- A Excel Utility as the same is not working on lower version of Excel. Hence we are with a basic Version of My Portfolio which will…
Sukanya Samridhi Account as a part of Beti Bachao Beti Padhao campaign
Contributed by: Ankita Ghosh (CA & CS Final Student) Prime Minister Narendra Modi today launched a small deposit scheme for girl child, as part of the ‘Beti Bachao Beti Padhao’ campaign, which would fetch an interest rate of 9.1 per cent…
Display all information about credit cost to borrowers by Banks: RBI
RBI directs via notification No: RBI/2014–15/422 dated 22nd January, 2015 Banks to disclose following Information’s in their website as well as in a key statement/fact sheet to all individual borrower from April 2015. In order to further enhance transparency in pricing…
Excessive Stock Statement Given to Bankers, Difference will be added to Income of the assessee
This appeal has been preferred by the assessee under Section 260A of the Income Tax Act, 1961. The High Court of Ounjab & Haryana in case of Smt.Shakuntla Thukral vs Commissioner Of Income Tax on 6 February, 2014 confirmed that…
Interest on Housing loan can be claimed as Deduction from House property & also can be included in cost of Acquisition for Capital Gain simultaneously
Assessee claim deduction of Interest on Housing Loan upto Rs. 2 Lakh (from AY 2015–16) to acquire house property u/s 24(b) and simultaneously upon sale of said property, interest already claimed as deduction u/s 24(b) can be added to cost…
What is Compound Interest
Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan. Compound interest can be thought of as “interest on interest,” and will make a deposit or loan grow at a…
Different type of interest rates offered for home loans
Interest rates vary from institution to institution as detailed in my 1st post. The interest on home loans in India is usually calculated on monthly reducing balance. In some cases, daily reducing basis is also adopted. Annual reducing: In this system, the…
Shares of PNB has been Splitted from Face value Rs.10 to Rs.2
Punjab National Bank has informed BSE that the Bank has fixed December 19, 2014 as Record Date for the purpose of ascertaining the eligibility of Shareholders to receive 5 (Five) Equity Shares of nominal value of Rs. 2/- each in…