Archive for May, 2012

E-Filing of Returns Must for Those Earning Income Over Rs.10 Lakh

Wednesday, May 30th, 2012

The government has made it mandatory for individuals earning income over Rs.10 lakh to electronically file (e-file) their tax returns for 2011-12. E-filing of tax returns was optional for those individuals of income category till 2010-11. Income-tax department said that e-filing of returns is mandatory for individuals whose income exceeds 10 lakh rupees for assessment […]

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EPF Pensioners May Have to Exchange Bonus for Pension Hike

Monday, May 28th, 2012

The government may raise the minimum pension to Rs.1,000 per month for the employees contributing to Employee Provident Fund Organisation (EPFO) but, for this pension hike, employees have to sacrifice the bonus that they get after 20 years of pensionable service. This bonus can be retained if the eligibility age for pension can be increased […]

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Understanding Wealthy Life

Saturday, May 26th, 2012

Poor and not so rich think the wealthy have a life of leisure and peace. The wealthy think the poor are lazy Many of us think that a wealthy person does not have to worry about future obligations or think of personal financial planning in their life. He is the one who enjoys 24 hours […]

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Fuel Shock in India: Petrol Price Raised by Rs.7.50 Per Litre

Friday, May 25th, 2012

The unreasonable petrol hike which is raised by more than Rs.7.50 per litre across the country is making the life of common man ‘miserable’. This is the steepest hike in past six months, the previous hike being Rs.5 per litre on November 4, 2011. This decision made by UPA government immediately resulted in the announcement […]

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Quickest Ways to Save Lots of Money – Big Savings Fast

Friday, May 25th, 2012

If you are reading this, you probably have decided to save money or are seriously considering saving money in quick time. One of the most important things you need to remember while you are on your savings voyage is that it takes hard work and commitment to save money in quick time. This article will […]

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Electronic, Car Prices Gone Up With Rupee Depreciation

Thursday, May 24th, 2012

With decrease in the value of rupee against dollar, the price hike across consumer segments like home appliances, electronics, and cars is seen in India. This hike in prices may continue till the rupee maintains its current decreased levels. While companies have sufficient equipment from local sourcing, but many of the key inputs are imported […]

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Health Insurers Yet to Establish in Indian Rural Markets

Thursday, May 24th, 2012

General insurance companies are still finding it tough to go in rural and semi-urban markets. One of the officials from Apollo Hospital said that some state-funded insurance companies are driving affordability in small towns and bringing majority of people in those states under insurance cover. On the other side, an official from ICICI Lombard said […]

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Best Ways to Save Money – Easy to Implement

Thursday, May 24th, 2012

To many people, savings is an absolute sacrifice as if it strips them off things invaluable! You need not sacrifice anything to save money. Small adjustments to your lifestyle can save you a lot of money. You just need to follow and implement them in your day to day life. Here are the easiest ways to save money.

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Habits that Save Money

Thursday, May 24th, 2012

Many of us struggle to save money as there is hardly anyone teaching it at home/school/college. We wrongly assume that saving money is a painful process. Inculcating some simple habits can make a huge difference in your savings. Here are some habits that can help you save significantly. Turn off lights before you leave the […]

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Rupee Hits All-Time Low, Dropped to 55.03 Per Dollar

Tuesday, May 22nd, 2012

INR (Indian Rupee) hits all-time low, traded at 55.03 against dollar on Monday. The dealers of Forex market said that renewed demand for the American currency in the international market among the weak equities affected the value of rupee. Investors now greatly prefer to invest in currencies which are believed to be safer, fearing the […]

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EPS Will Not Have Deficit, Can be Funded for Decades: Study-Analysis

Friday, May 18th, 2012

The viability report of the Employees’ Pension Scheme (EPS) based on the World Bank’s ‘PROST’ model concludes that EPS has no deficit and can be funded for more decades up to 2075. Earlier, the estimates had concluded that out of 1,42,000-crore EPS, had run up to 50,000-crore deficit by 2009-10. The latest report says that […]

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PAN is Required for Buying Gold Exceeding Rs. 2 Lakh

Friday, May 18th, 2012

Without furnishing a Permanent Account Number (PAN), customers will no longer be able to buy gold bars and coins worth more than Rs. 2 lakhs. As PAN is treated as source of identity, it is mandatory on the part of the seller to collect tax at source on such sales. The recent Finance Bill 2012, […]

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Men Actively Buy Insurance Online than Women: Study by Policy Bazaar

Friday, May 18th, 2012

A survey by Policy Bazaar, one of the online insurance portals, showed stated men are more active in buying insurance online than women. The study says that of the overall people who bought insurance online, 98.1% were men, while only 1.9% were women. Moreover, it also showed that metro residents were more active visitors of […]

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Banks Must Follow Prescribed Format on Loan Take-Overs: RBI

Tuesday, May 15th, 2012

The Reserve bank of India (RBI) asked all banks to have a board approved policy with regard to take-over of loans from one bank to the other. RBI said that critical information regarding health of the borrowal loans taken over is not being shared with the transferee bank by the transferor bank. In order to […]

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Verify Income Tax Returns Before Opening Accounts of Businessmen: RBI

Tuesday, May 15th, 2012

The Reserve Bank of India (RBI) asked Urban Cooperative Banks (UCBs) to check income tax returns and other documents before opening accounts of businessmen as part of the KYC (Know Your Customer) norm. It directed all UCBs to verify the complete income tax details of the sole proprietor where the firm’s income is authenticated by […]

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