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Sukanya Samriddhi Yojana Account – Saving scheme for Girl Child – Details & Review

Last updated : 9th May, 2015 In Jan 2015, the government has announced a new savings scheme called “SUKANYA SAMRIDDHI ACCOUNT” (SSA) / Sukanya  Samridhi Yojna which is mainly for saving money for the girl child’s education and marriage. It provides tax benefit u/s 80C as well as Interest rate of 9.1%.  9.2%. Interest rate for the current financial year 2015-16 is 9.20 per cent against 9.1 per cent in the previous year. In the post below, we will try explain the features of this savings scheme and answer your queries related to benefits and drawbacks of SUKANYA SAMRIDDHI ACCOUNT, ... Read More »

DDA Housing scheme 2014 – Details & Forms

Last updated : 26th November, 2014 UPDATE 25/11/2014  DDA Housing Scheme 2014 draw results are announced. Please see the link below to check if you have been allotted a flat http://dda.org.in/ddanew/Hosing_Scheme2014.aspx UPDATE 5/11/2014 –   DDA Housing Scheme 2014 Draw Results :  DDA also now postponed the draw date to November 10. Once the forms are uploaded ont he website, the applicants will be given opportunity for 1-2 days to check the details & rectify it if needed. Update – Last date for DDA Housing scheme is extended to Oct 15 2014. DDA new Housing / Flat Scheme 2014 is biggest ever housing scheme ... Read More »

Tax Saving options & deductions under 80D to 80U

Last updated : 13th March, 2014 Hopefully, you are claiming deduction upto Rs 1 Lakh under Section 80C by investing  in various eligible options. If not, please read the article here about 80C tax deductions. After exhausting the limit of Rs 1 Lakh u/s 80C, you must be thinking – Are there more avenues to save tax?   So, here are some options which are allowed as deduction from your income for purpose of tax calculation (other than 80C): Section 80C –  Deductions for eligible investments (upto Rs 1 lakh) Under this section, you can claim deduction upto Rs 1 ... Read More »

Section 87A Tax rebate / Tax credit of Rs 2000

Last updated : 13th March, 2014 In Budget 2013, a new Section 87A was introduced under Income tax Act to allow for tax credit / rebate of Rs 2000 to taxpayers whose taxable income is upto Rs 5 lakhs. Persons whose taxable income is upto Rs 5 lakhs will get a tax credit / tax rebate of Rs 2000 under Section 87A of Income Tax Act 1961. As per new section 87A, “An assessee, being an individual resident in India, whose total income does not exceed five hundred thousand rupees, shall be entitled to a deduction, from the amount of ... Read More »

Where should I invest my money?

Last updated : 28th April, 2014  There is a famous saying in financial world that you will become rich by “Investing” not only “Saving”. Well, Isn’t Investing & Saving is the same thing? Actually No, when you save money, you put it in extremely safe, liquid option like Bank Account, Fixed deposit etc. Saving is mainly to keep pace with Inflation or short term goals or for emergency. When you want to invest, you look around for various available options which can grow your wealth. Based on the goal horizon & risk appetite, you can invest your money in options ... Read More »

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