Personal Loan

Rise in deposit limit for 2 senior citizen schemes [ad_1] In a big benefit for senior citizens, the deposit limit in two popular schemes, Senior Citizens Saving Scheme (SCSS) and Monthly Income Scheme (MIS), has been increased significantly. In case of an individual SCSS account, the deposit limit has been raised from the current Rs.15 lakh to Rs.30 lakh. In ...

Life insurance proceeds taxable for premium over Rs 5 lakh [ad_1] For life insurance policies issued on or after 1 April 2023, the tax exemption on maturity benefits under Section 10(10D) will only be applicable if the aggregate premium paid by an individual is up to Rs.5 lakh. Currently, the maturity proceeds for all types of life insurance policies, which ...

Latest income tax slab rates for FY 2023-24 (AY 2024-25)| EconomicTimes [ad_1] Default tax regime Further, the new income tax regime becomes the default tax regime. However, the individuals will have an option to continue with the old income tax regime. The government has reduced the surcharge of the highest rate from 37% currently to 25% in new tax regime. ...

10 key income tax highlights from Union Budget 2023| EconomicTimes [ad_1] TDS to be deducted on all online game winnings TDS threshold for online gaming has been removed from Rs 10,000 to nil in Budget 2023. As per the announcement, “Removing the minimum threshold of Rs 10,000/- for TDS and clarifying taxability relating to online gaming.” [ad_2]

Latest income tax slab rates for FY 2023-24 (AY 2024-25)| EconomicTimes [ad_1] Default tax regime Further, the new income tax regime becomes the default tax regime. However, the individuals will have an option to continue with the old income tax regime. The government has reduced the surcharge of the highest rate from 37% currently to 25% in new tax regime. ...

Post Office Monthly Income Scheme limit enhanced to Rs 9 lakh for individuals in Union Budget 2023 [ad_1] The Post Office Monthly Income Scheme (POMIS) limit has been enhanced to Rs 9 lakh from Rs 4 lakh for single account holders. In case of joint holding, the limit has been increased to RS 15 lakh from Rs 9 lakh in ...

digilocker: Soon, you will be able to update address, identity proof easily via DigiLocker says Budget 2023 [ad_1] DigiLocker will now be a one-stop KYC maintenance system for individuals, allowing you to make changes to papers that will be reflected in all of your documents that are linked to digilocker, Budget 2023 announced. Digilocker and Aadhar will be used as ...

Changes expected in income tax slabs in India for fy 2023-24 [ad_1] Old tax regime Under the old tax regime, a resident individual aged below 60 years, NRI can claim basic exemption of Rs 2.5 lakh from total income in a financial year. In case of senior citizens and super senior citizens, the basic exemption limit is Rs 3 lakh ...

ICICI Bank, PNB revise home loan, other loan interest rates [ad_1] ICICI Bank and Punjab National bank have revised their marginal cost-based lending rate (MCLR) across all tenures. The higher interest rates are effective from February 1, 2023. Punjab National BankAccording to the PNB Bank website, the overnight is increased to 7.90 percent, one-month MCLR rate has been increased to ...

Expectations from Budget 2023: Will salaried individuals get income tax relief this year? [ad_1] Personal income tax (PIT), including Securities Transaction Tax (STT), constituted Rs 5,26,477 crores (net of refund) i.e., approximately 46% of the total net direct tax collections. According to recently published data, the growth rate of PIT in terms of gross revenue collections in financial year (FY) ...