Browsing: account

[ad_1] India’s three key southern cities — Bengaluru, Chennai and Hyderabad — dominated office demand with contribution of 59 per cent of the total office leasing across the top 7 cities during the quarter ended June, according to the quarterly office market report by real estate consultant Vestian, titled ‘The Connect Q2 2023’. As per the data, the combined office leasing in three major southern cities stood at 8.2 million square feet, out of a total 13.9 million square feet absorbed in the April-June quarter of this calendar year. Across seven major cities, office leasing fell 6 per cent to…

[ad_1] By Chirag Nangia * I have a Post Office Monthly Income Scheme (MIS) with my wife and the interest amount is credited in my savings account every month. How should I compute the income tax on the interest received? —Girish Chauhan Interest earned on joint accounts are taxable in the hands of both primary and secondary account holders. However, there is no TDS on the Post Office MIS, but the interest income earned is taxable as per your tax slab, which is supposed to be reported in ‘Schedule OS’. Further, section 80TTA entitles an individual to claim deduction of…

[ad_1] New demat account additions zoomed to a 13-month high in June, with investors looking to participate in the market rally amid the new highs. Data from depositories – CDSL and NSDL – show that June registered a net addition of 2.36 million demat accounts — the highest since May 2022, a month that had registered 2.67 million additional accounts over the preceding month. A surge in demat account openings during market rallies, say experts, is a common occurrence. “This direct correlation between new account openings and market rallies holds good during the ongoing rally. The sharp 15% rise in…

[ad_1] For most people, it is essential to have a bank account today because it comes with so many benefits and facilities. However, how many bank accounts should you have? Is one bank account enough or should you have more than one? While there is no fixed rule, the number of bank accounts a person should have depends on various factors, including one’s financial goals, convenience, and personal preferences. According to financial experts, every individual should have at least one bank account. This account serves as the foundation for your financial transactions. It is typically linked to your salary, and…

[ad_1] Public Provident Fund (PPF) extension rules: While the PPF account matures after 15 years, excluding the financial year in which the account has been opened, investors are allowed to extend their accounts in blocks of five years each. As per PPF rules, accountholders have the following options after the maturity: They can take maturity payments by closing the account.They can retain the maturity amount in their accounts without any deposit. In this case, the PPF interest rate will be applicable and the account holder will be allowed to take the payment at any time. Alternatively, they can take 1…

[ad_1] Savings accounts have long been a popular choice for individuals to park their surplus funds, offering easy access and minimal risk. However, in recent years, liquid funds have emerged as a viable alternative to savings accounts, raising the question: Is a liquid fund better than a savings account? Let’s delve into the details: Easy access to money Liquidity is a key factor that most individuals consider while choosing an investment option. Savings accounts allow you to withdraw funds whenever needed without any penalties. Liquid funds, which are a type of mutual fund, offer similar liquidity features. You can withdraw…

[ad_1] Savings accounts have long been a popular choice for individuals to park their surplus funds, offering easy access and minimal risk. However, in recent years, liquid funds have emerged as a viable alternative to savings accounts, raising the question: Is a liquid fund better than a savings account? Let’s delve into the details: Easy access to money Liquidity is a key factor that most individuals consider while choosing an investment option. Savings accounts allow you to withdraw funds whenever needed without any penalties. Liquid funds, which are a type of mutual fund, offer similar liquidity features. You can withdraw…

[ad_1] Sukanya Samriddhi Yojana (SSY) account is considered a good savings scheme for the benefit of a girl child. The SSY account can be opened in the name of a girl child aged below 10 years. Only one account is allowed for a girl child. However, two accounts per family are allowed for two girls in a family. As the interest earned from SSY deposits is tax-free and the interest rate is at par with fixed deposits, or even better in some cases, the SSY account can be used by parents to secure the financial future of their daughters. The…

[ad_1] Choosing the right savings account is a crucial financial decision that can have a significant impact on your financial well-being. With numerous options available from various financial institutions, it’s important to consider several key factors before opening a savings account. This article explores five important aspects to watch out for when selecting a savings account. Interest Rates Interest rates play a pivotal role in determining the growth of your savings over time. It is essential to compare the interest rates offered by different banks or credit unions. Adhil Shetty, CEO, Bankbazaar.com, says, “Look for accounts that offer competitive interest…

[ad_1] Senior Citizen Savings Scheme (SCSS) Interest Rate History from 2004 to May 2023: While the current SCSS Interest Rate is just 8.2%, there was a time when this scheme used to offer 9.3% interest to senior citizens while the deposit limit was Rs 15 lakh. The Government has now increased the SCSS deposit limit to Rs 30 lakh for an individual from FY 2023-24. The history of SCSS interest rates shows that the Senior Citizen Savings Scheme Account interest rate between 02-08-2004 to 31-03-2012 was 9%. Between 01-04-2012 to 31-03-2013, the SCSS interest rate was 9.3%. However, it was…