What is the Cost Inflation Index (CII) for the Financial Year (FY 2023-24) and AY 2024-25? Cost Inflation Index (CII) for FY2023-24 is 348 Cost Inflation Index (CII) for the previous year, i.e. FY2021-22 was 331. The CII Number for…
Read More Cost Inflation Index (CII) FY2023-24 Notified as 348
Indian investors were shocked to see the surprise announcement by the government recently, to remove LTCG indexation taxation in debt fund from FY2023-24. Now all the gains in debt funds are taxed as per the investor’s income tax slab. The…
Read More Should I Switch to Hybrid Funds from Debt Funds to avoid Increased Taxation?
The Senior Citizen Savings Scheme (SCSS) interest rates have been increased to 8.2% recently (for April-June quarter of FY2023-24). More details here. For many Indians investing in debt, 8% is the psychological level for which they wait for to get…
Read More Is SCSS at 8.2% good for Senior Citizens looking for income and high rates?
The government notified the increase in almost all small savings scheme for April-June 2023 quarter (Q1 of FY2023-24) – read detail here. I have used the term ‘almost all’ as there has been no increase in PPF or Public Provident…
The government has increased the interest rates for many small scheme savings interest rates for the quarter of April-June 2023. Here are the changes made - PPF interest rates - No Change (remains at 7.1%) - Possible reason - Why…
Read More PPF stays 7.1% | Sukanya increased to 8.0% | SCSS increased to 8.2%
The EPFO has INCREASED the EPF interest rate (Employees Provident Fund). The rates have been increased to 8.15% for FY2022-23. The rates earlier were 8.1% in FY 2021-22. So the answer to your questions about What is current EPF interest…
Read More EPF Rates Increased to 8.15% for FY2022-23 (from 8.10% earlier)
The taxation of debt mutual funds will change from 1st April 2023. Here is how your debt fund capital gains will be taxed from 1st April 2023: If the Mutual Fund holds less than or equal to 35% of Indian…
Read More Debt Funds Taxation Change from 1st April 2023 (FY2023-24)
LIC New Jeevan Shanti (Plan 858) is a deferred annuity plan by LIC, where you need to pay the one-time lumpsum premium at once, but you need to pick a deferment period (up to 12 years), only after which the…
Read More LIC New Jeevan Shanti (No. 858) | Review + Benefits (2023)
Which banks in India are insured and covered under the Rs 5 lakh insurance of DICGC. And what is the limit of DICGC insurance for depositors in India?
When it comes to correctly putting the building blocks of your personal finance, Life insurance is the first tool that you should consider to secure the well-being of your family and dependents. In fact, it should always be insure first…
LIC Saral Pension Plan (Table No. 862 - 512N342V04) is a standard immediate annuity plan by LIC, where you need to pay the one-time lumpsum premium and you start getting your annuity income immediately. LIC already has an immediate annuity…
Read More LIC Saral Pension Plan (No. 862) | Review of Immediate Annuity Plan + Benefits (2023)
Active ELSS Funds AMC can Now Launch Passive ELSS Index Funds, if the stop flows to active funds and merge them with passive funds in 3 years.
The new tax regime (2023) offers lower tax slab rates but it also removes almost all the exemptions. But there are still few tax deductions that are available under the New Tax Regime from 1st April 2023. So what are…
Read More New Tax Regime Exemption List: Available Deductions (FY2023-24)
Who is Eligible for Rs 50,000 Standard Deduction in New Tax Regime? Standard Deduction of Rs 50,000 is now available for EVERY Salaried & Pensioners under the New Tax Regime in India (2023). This new change has been introduced under Section 16(ia) in Budget 2023, and for new tax regime which was introduced as an alternative tax system under section 115BAC
How Revised Section 87A Tax Rebate (FY 2023-24) reduces Income Tax to Zero for those earning Rs 7 lakh or less in India.
