NRE (Non-Resident External) Fixed Deposits are one of the best investments for NRIs/PIOs/OCIs because of two reasons: The interest rate is on the higher side as compared to their country of residence and the interest earned on NRE FD is tax free in India This post compares the best interest rates on NRE FDs. Best […] Continue reading →
FCNR (Foreign Currency Non Resident) account is fixed deposit account offered by banks in India to non resident Indians (NRIs) and is operated in foreign currency. FCNR deposits are good investment option for NRIs in Singapore as the interest rate offered by banks in India are way higher than that offered by banks in Singapore. […] Continue reading →
FCNR (Foreign Currency Non Resident) account is a fixed deposit account offered by banks in India to non resident Indians (NRIs) and is operated in foreign currency. These are quite popular investments for NRIs because of the higher interest rate offered by banks in India as compared to their country of residence. For e.g. As […] Continue reading →
Budget 2017 has changed the base year for cost inflation index (CII) for calculating capital gains from 1981-82 to 2001-02. This would in most cases be beneficial for tax payers. The CII for base year 2001-02 is taken as 100 and CII of FY 2018-19 is 280. Download: Excel based Calculator for Capital Gains Tax […] Continue reading →
Every budget makes some changes to tax laws every year and Budget 2018 was no different. We must be aware of these changes and plan our taxes and investments accordingly. Below are the 13 changes that Budget 2018 made and all of these would be applicable from April 1, 2018: 1. Reintroduction of Standard Deduction […] Continue reading →
June 15, 2018 is the last date to pay first installment of your advance tax. Starting FY 2016-17 advance tax is payable in four installments as follows: 15% of total tax by June 15 45% of total tax by September 15 75% of total tax by December 15 and 100% of total tax by March […] Continue reading →
In the past two years the interest rate in India was following downward trend. The downward trend accelerated after demonetization as banks became flushed with cash. However, you might have been hearing headlines about increase in deposit interest rates by some major banks like SBI, Axis, HDFC bank in the last 2-3 months. Some banks […] Continue reading →
Few people while taking up a new job have the flexibility to work as an employee or independent consultant (also known as contractor or freelancer). If planned properly consultants have lower tax outgo for the same CTC (Cost to company). With Budget 2016 introducing presumptive taxation for some professionals like legal, medical accountancy, architect, IT […] Continue reading →
Life has become a lot more convenient with the new age banking but this convenience comes with a lot costs in terms of hidden charges. Below is the list of such charges which you might not know 1. Non Maintenance of Monthly/Quarterly Average Balance: Almost all banks insist on maintaining monthly/quarterly average balance. In case […] Continue reading →