Personal Finance

[ad_1] Axis Bank was ordered by National Consumer Disputes Redressal Commission (NCDRC) to pay a collective amount of Rs 73.93 lakh (including compensation) to five individuals who were victims of a cheque fraud withdrawal incident. Here’s what happened. On May 24, 2008 one of the victims, who had Rs 11.93 lakh in his bank account, … Read more

[ad_1] Tax liability in India is largely determined by the residential status of an individual and the place where the income is earned during the financial year. As per Section 6 of the Income-tax Act, 1961 (Act), an individual may qualify as a non-resident (NR) or ‘Resident’ of India depending on his/her physical presence in … Read more

[ad_1] The interest rates on fixed deposits (FDs) for senior citizens should be 2% more than the standard rate offered to general customers, said Bharat Pensioners Samaj, federation of pensioners in the country. In a letter addressed to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, Bharat Pensioners Samaj said, “… addressing the interest … Read more

[ad_1] An ICICI Bank branch manager and his aides managed to meet their business performance targets for years by withdrawing money out of the bank accounts of unsuspecting account holders of the branch. They withdrew this money to create an illusion of opening new FD, current and savings accounts. However, someone got to know about … Read more

[ad_1] Mumbai: The Income Tax Appellate Tribunal (ITAT) has come to the rescue of a salaried individual who was deputed to work outside India, by holding that the salary income (which includes allowances) of a ‘non-resident’ for services rendered overseas cannot be taxed in India. In this case, which was heard by the ITAT Delhi … Read more

[ad_1] Amid continuous farmer demonstrations calling for the enactment of laws about minimum support prices (MSPs) and other agricultural reforms, Samyukat Kisna and the Kisan Mazdoor Morcha have unitedly called for a Bharat Bandh on February 16, 2024, as per an Economic Times report. Many services could be impacted during the nationwide strike. Let us … Read more

[ad_1] Life Insurance Corporation of India (LIC) was ordered by National Consumer Disputes Redressal Commission (NCDRC) to pay Rs 1.57 crore to the husband of deceased policyholder. She died from Breast Cancer in April 2017 and in March 2018 LIC rejected her husband’s insurance claim. NCDRC said in its order that LIC provided a deficient … Read more

[ad_1] The Reserve Bank of India (RBI) announced that it will now allow licenced bank and non-bank Prepaid Payment Instrument (PPI) issuers to issue PPIs for payments across different public transport networks without KYC. Metro, bus, train, waterways, tolls, and parking services can now be paid digitally through prepaid wallets and cards, thanks to RBI’s … Read more

[ad_1] While retaining its sharp focus on term plans, Policybazaar is now looking to sell annuity products without much concern for competition from the NPS, Santosh Agrawal, CBO, Life Insurance, Policybazaar tells ET Wealth. What do you think of Irdai’s proposal on increase in surrender charges? It’s a customer-friendly move, but in the short term, … Read more

[ad_1] Maria Korneeva | Moment | Getty Images The Biden administration has set a key deadline for student loan borrowers hoping to get forgiveness. Those with multiple federal student loans who request a consolidation by April 30 — which will leave them with one, larger loan — could benefit from the U.S. Department of Education’s … Read more