NSE and BSE will stay closed on Monday attributable to Lok Sabha elections in Mumbai and the Bombay Stock Exchange (BSE) mentioned all of the segments of the markets will stay shut, together with SLB and derivatives.
Mumbai, one of the areas collaborating within the fifth part on Monday, has designated a public vacation for this function. Trading will resume on Tuesday. Multi Commodity Exchange (MCX) will stay shut within the morning session however reopen within the night session.
People stroll previous the Bombay Stock Exchange (BSE) constructing in Mumbai,IANS
The subsequent day of buying and selling within the inventory market can be on Tuesday from 9.00 a.m. to three.30 p.m. The subsequent buying and selling vacation within the inventory market is June 17 on the event of Bakra Eid.
After this, the market will stay closed on July 17 attributable to Muharram, August 15, October 2, November 15 on the event of Guru Nanak Jayanti, and December 25 attributable to Christmas.
The inventory market was open on Saturday attributable to a particular buying and selling session. Sensex was up 88 factors or 0.12 per cent at 74,005 factors and Nifty was up 35 factors or 0.16 per cent at 22,502 factors.
Seoul, May 17: Nearly one out of five imported vehicles in South Korea were battery-powered ones in the January-April period despite slowing sales of electric vehicles (EVs) globally, industry data showed on Friday.
In the first four months, registrations of pure EVs jumped to 13,863 units from 5,417 during the same period of last year, accounting for 18.2 per cent of overall vehicle imports, according to data from the Korea Automobile Importers & Distributors Association (KAIDA).
Tesla’s Model Y SUV topped other EV models with registrations of 6,016 units in the four months, followed by Tesla’s Model 3 with 1,731 units, BMW’s i5 eDrive40 sedan with 644 units, and Audi’s Q4 e-tron SUV with 621 units, the data showed, reports Yonhap news agency.
Registrations of imported gasoline hybrid cars rose 39.3 per cent on-year to 37,085 units, taking up 48.7 per cent of all imported cars in the January-April period. Their ratio jumped from 32.2 per cent in the year-ago period.
In contrast, the number of imported gasoline cars fell 37 per cent to 2,828 units in the four-month period from 4,481 a year ago. The ratio of gasoline cars also dropped to 27.4 per cent from 49 per cent.
Diesel-powered car registrations fell 71 per cent to 2,084, with their ratio down to the lowest 2.7 per cent from 8.7 per cent during the same period, the data showed.
EPFO Account holder gets insurance of Rs 7 lakh for free! Know how you can avail the benefits of the scheme
All EPFO members get protection underneath the Employees’ Deposit Linked Insurance Scheme (EDLI) 1976. In this, insurance cowl can be supplied in case of sickness, accident or pure dying of the worker. Legal heirs of the worker can get help as much as Rs 7 lakh. Let us know what are the circumstances for availing this scheme and how the declare quantity is calculated.
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In immediately’s period, insurance cowl has change into crucial. With this the monetary future of the household turns into safe. This is the motive why most individuals insure their dwelling and automobile as nicely. But, there’s a scheme of the authorities during which you get the profit of insurance value Rs 7 lakh with out spending a single penny.
How to get insurance If you are employed and Provident Fund (PF) is deducted out of your wage, then you will get an insurance of Rs 7 lakh. The smartest thing is that you is not going to must pay a single rupee as premium. This insurance is supplied by the Employees Provident Fund Organization (EPFO).
Actually, all members of EPFO get protection underneath the Employees’ Deposit Linked Insurance Scheme (EDLI) 1976. In this, insurance cowl can be supplied in case of sickness, accident or pure dying of the worker. In such a scenario, the worker’s nominee or authorized heirs can get help as much as Rs 7 lakh.
How is the insurance quantity determined? 0.5% of the PF deducted from the worker’s wage is deposited in the EDLI scheme. The quantity you will get underneath the ELDI scheme is set on the foundation of your wage for the final 12 months. The declare for insurance cowl might be 35 occasions the final fundamental wage plus DA. Additionally, a bonus quantity as much as Rs 1,75,000 can also be out there.
For instance, if an worker’s common wage plus DA for the final 12 months is Rs 15,000. In this case the declare quantity might be 35 x 15,000 i.e. Rs 5,25,000. By including a bonus of Rs 1,75,000 to this, the whole declare quantity will change into Rs 7 lakh.
How a lot does one get for insurance declare? Under the EDLI scheme, one can get an insurance declare of minimal Rs 2.5 lakh and most Rs 7 lakh. However, the situation for minimal declare is that the worker ought to be in steady employment for at the very least 12 months. Account holders who go away their jobs don’t get this profit.
Claim on this insurance can be made solely in case of dying occurring throughout employment. Whether he’s in workplace or on trip. But, this insurance declare isn’t out there after retirement. While making an insurance declare, paperwork like dying certificates and succession certificates are requested for.
If the declare is being made by the guardian of a minor, then guardianship certificates and financial institution particulars may also must be given.
Liquor Price Increased: Liquor has change into costly on this state, new excise coverage accepted
EPFO Advance: Withdrawal of advance money from EPFO has become simple! With this new service the amount will be in the account in three days
EPFO Advance: There is sweet information for EPFO subscribers. Now, advance claims are being settled inside 3 days. This service is being supplied quickly like EPFO. Giving an instance of advance declare settlement, the Employees’ Provident Fund Organization (EPFO) stated Anirudh Prasad had utilized for sick advance underneath para 68J on May 9 and his advance declare would be settled on May 11, 2024, after three days. The amount was settled at Rs 92143.
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EPFO has made many efforts to enhance its service and there are a lot of tales of enchancment in advance claims. At the identical time, final month, EPFO, in response to a member’s query on the time taken in the declare settlement course of, had stated that it often takes 20 days to settle a declare.
This new service introduced pace Meanwhile, EPFO has began auto-mode declare settlement of advance claims for schooling, marriage and housing functions, the Labor Ministry stated in an announcement on Monday. This step is predicted to extend the ‘ease of dwelling’ for crores of EPFO members.
Under auto-mode settlement by the superannuation fund physique, the declare is processed mechanically by the IT system with none human intervention.
How a lot advance can I get? EPFO had launched this auto settlement facility in April 2020 for the goal of advance cost for illness. Its scope has now been prolonged to different functions like schooling, marriage and housing. Now this restrict has been elevated to Rs 1,00,000. EPFO stated that in the present 12 months, about 2.25 crore members are anticipated to avail the profit of this facility.
During FY2023-24, EPFO settled roughly 4.45 crore claims, of which greater than 60% (2.84 crore) claims had been advance claims. Out of the whole advance claims settled throughout the 12 months, about 89.52 lakh claims had been settled utilizing auto-mode.
SBI FD Rate Hike : SBI gave excellent news to crores of clients! FD rates of interest elevated, see new charges
Bank Account Holder Alert: This bank will close these accounts from June 1, gave ultimatum to customers
State-owned Punjab National Bank (PNB) says it will close from June 1 these accounts which have been inactive for at the least three years and don’t have any steadiness. If such customers need to save their bank accounts from closure, then they will have to full the KYC (Know Your Customer) course of by 31 May 2024. Let us know the entire information.
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Public sector Punjab National Bank (PNB) says that from June 1, it will close these accounts that are inactive for at the least three years and don’t have any steadiness. If such customers need to save their bank accounts from closure, then they will have to full the KYC (Know Your Customer) course of by 31 May 2024. The bank has clarified that no additional discover will be given to the account holders after May 31.
These accounts will not be closed Punjab National Bank stated that it has given particular concession to some accounts. They will not be closed even after being inactive for 3 years or having zero steadiness. These embody locker or demat account. Also, accounts opened for customers under 25 years of age and availing advantages of presidency schemes will additionally not be closed.
If an account has been frozen on the orders of the court docket, Income Tax Department or another authorized establishment, then it will additionally not be closed.
Why is the bank closing the account? Punjab National Bank says that it’s taking the choice to close inactive accounts for safety causes. Sometimes inactive accounts additionally get misused. Later it will also be used for unlawful actions like fraud or cash laundering. In such a state of affairs, it has been determined to close them.
Will the account be activated once more? If you come to know after June 1 that your account has been closed due to inactivity, you will nonetheless have the ability to reactivate it. However, for this you will have to go to the closest department of the bank and submit the mandatory KYC paperwork there.
Post Office Scheme! You will get Rs 8 lakh by depositing Rs 5,000 each month, see particulars right here
Saving account Limit of keeping money in bank account, know what will happen if Income Tax catches you
With digital banking, the development of keeping money in bank accounts has additionally elevated quickly. Today about 80 % individuals in the nation have a bank account. In such a state of affairs, you must be conscious of the principles for depositing money in the bank. Let us know how a lot money may be deposited in the bank and what motion may be taken in case of not with the ability to inform the supply of the money. Let us know about it in element.
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There was a time when individuals had been overly depending on conventional banking. Whenever banks had been introduced to stay closed for a number of consecutive days as a consequence of official holidays or strikes, lengthy queues of individuals would type in banks to withdraw money. People would stand in line outdoors for hours.
But, with the rise in the development of digital banking, individuals’s conventional dependence has diminished. According to a report, greater than 80 % individuals (adults) in the nation are related to the banking system. Due to this, everybody has began keeping money in the bank as a result of individuals belief them. It has additionally grow to be simpler for the federal government to offer services to the general public.
But, with the rise in the development of digital banking, individuals’s conventional dependence has diminished. According to a report, greater than 80 % individuals (adults) in the nation are related to the banking system. Due to this, everybody has began keeping money in the bank as a result of individuals belief them. It has additionally grow to be simpler for the federal government to offer services to the general public.
Not solely is your money secure in the bank account, however you additionally get curiosity. Many instances individuals put their financial savings value lakhs in financial savings account. In such a state of affairs, you ought to know how a lot money you can hold in the financial savings account, in order that you don’t come below the radar of the Income Tax Department.
financial savings account restrict
There isn’t any restrict for keeping money in financial savings account. You can deposit as a lot money as you need in it. But, if the quantity deposited in your account comes below the purview of earnings tax, then you will have to offer official details about it. Besides, the supply of earnings will additionally need to be talked about.
If you deposit greater than Rs 10 lakh in a bank in a monetary yr, then it’s needed to tell it to the Central Board of Direct Taxes (CBDT). The similar restrict additionally applies to money deposits in FD, funding in mutual funds, bonds and shares.
What if the supply of money is just not disclosed?
If you deposited greater than Rs 10 lakh in your accounts, the Income Tax Department can ask its supply. If he’s happy together with your reply, he may also examine. If you are caught throughout investigation, you could face a heavy fantastic. The Income Tax Department can impose 60 % tax, 25 % surcharge and 4 % cess on the deposited quantity.
Is it proper to maintain money in financial savings account?
There isn’t any level in keeping enormous quantity in financial savings account. You can make investments this money in the inventory market or mutual funds, in which you can get good returns. If you don’t need to take threat or need to hold the money in the bank, then you could make a set deposit (FD). You will even be secure in this and you will additionally get good returns on it.
Property paperwork: In case of loss of property paperwork, do that work first, in any other case it will grow to be very troublesome.
Wrong UPI Transaction : Money went to some other account by mistake then RBI told how to return it
Wrong UPI Transaction: The development of digital transactions is growing daily. In such a state of affairs, if this ever occurs to you then you do not want to panic as a result of RBI has given the strategies by way of which we will get our a refund. Let us know within the information how the cash transferred to the incorrect account will be recovered.
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Digital fee methods like Unified Payments Interface (UPI) have revolutionized the best way transactions are carried out. They have eradicated using money normally by permitting one to scan a QR code and switch the specified quantity instantly to the financial institution quantity. From road distributors to retail chains, UPI is now all over the place in India as a result of it makes
transactions really easy. Even after that, many instances due to incorrect kind of UPI ID, the cash will get transferred to another person. We can even let you know what to do in such a state of affairs in order that your cash will be recovered.
If cash is transferred utilizing incorrect UPI ID
However, UPI is a protected fee system. Even after that, small errors made by you may trigger monetary loss. Entering incorrect UPI ID and unintentionally transferring cash to another person’s financial institution account are among the many errors you might need confronted. In such circumstances, most of us get nervous however in accordance to Reserve Bank of India, by taking the correct steps, you’re recovering the cash transferred to one other account by coming into incorrect UPI.
You can recuperate your cash on this means
According to RBI, it is claimed that in case of unknowing transaction by way of digital providers, the sufferer ought to first lodge a grievance within the fee system used.
You can take assist from the shopper care of purposes like Paytm, Google Pay and PhonePe and request a refund.
If the fee system fails to resolve your subject, you may contact the Ombudsman for Digital Transactions arrange by the RBI.
Complaint will be filed when the fee system doesn’t well timed adjust to RBI directions associated to fee transactions by way of UPI, Bharat QR Code and others, corresponding to failure to credit score funds to the beneficiaries’ account or inside cheap time. Failure to return the quantity inside.
Anyone can complain to the Ombudsman when funds are wrongly transferred to the beneficiary’s account.
Wife’s property rights: How a lot proper does the spouse have within the property after her husband, the High Court made it clear in its choice
Income Tax Rule: 90 percent people do not know that the money kept in Saving Account is also taxed, know the rules of Income Tax.
Income Tax Rule on Saving Account: At current, everybody has not less than one financial savings account in the financial institution. You can take benefit of web banking by linking your financial savings account to UPI. You hold your financial savings in the financial savings account. You also get curiosity from the financial institution on the money deposited in it, which also will increase your earnings, however do you know that the money kept in the financial savings account is also taxed. If you do not know, then allow us to know in the information beneath that how a lot tax is levied on the money kept in the financial savings account….
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Nowadays nearly each individual makes use of saving account. Bank account has turn into crucial in in the present day’s time. In a household, kids also have accounts together with their dad and mom. Be it wage or scholarship, everybody requires a checking account quantity. However, no restrict has been set concerning the most quantity deposited in the financial savings account. But only a few people know that the curiosity you get on financial savings account comes beneath the purview of earnings tax.
Many people in the nation deposit their financial savings in financial institution accounts. Today in this text we’ll let you know when and the way a lot tax is levied on financial savings account. According to Income Tax rules, how a lot tax is levied on the financial savings account.
For data, allow us to let you know that there are two sorts of financial institution accounts – one is Saving Account and the different is Current Account. People who open an account for the objective of saving money choose the choice of saving account.
If we discuss saving account advantages, the financial institution offers many advantages like curiosity in it. Many people do not know that the curiosity obtained on the quantity deposited in the financial savings account is not tax free. This means that we’ve got to pay tax on financial savings account also.
Know when tax is levied on financial savings account
Actually, there is no restrict for depositing money in financial savings account. Many financial institution holders are not even required to take care of minimal steadiness. But when greater than a restrict is deposited in the financial savings account, then the account holder has to pay tax on it.
In such a scenario, it is best to hold in thoughts that you retain solely that a lot money which comes beneath the purview of ITR (Income Tax Return). If you retain extra money in the account than that, you’ll have to pay tax on the curiosity obtained by the financial institution.
Tax is levied on this quantity
According to the Income Tax part, curiosity obtained from financial savings account is also counted as earnings. In such a scenario, if the annual earnings of an account holder is Rs 10 lakh and he will get curiosity of Rs 10,000 on his financial savings account. Including this curiosity, his annual earnings will now be Rs 10,10,000. This a lot earnings is taxable as per the Income Tax Act. This means that now the account holder must pay tax on curiosity.
Give details about saving account to earnings tax
According to the rules of the Income Tax Department, if an individual retains greater than Rs 10 lakh in money in his financial savings account in one enterprise 12 months, then he ought to inform the Income Tax Department.
If they do not do so, the division can also take motion towards tax evasion. Let us let you know that Rs 10 lakh shall be thought of as earnings and it is taxable.
Income Tax Rule: 90 percent people do not know that the money kept in Saving Account is also taxed, know the rules of Income Tax.
Income Tax Rule on Saving Account: At current, everybody has not less than one financial savings account in the financial institution. You can take benefit of web banking by linking your financial savings account to UPI. You preserve your financial savings in the financial savings account. You also get curiosity from the financial institution on the money deposited in it, which also will increase your earnings, however do you know that the money kept in the financial savings account is also taxed. If you do not know, then allow us to know in the information under that how a lot tax is levied on the money kept in the financial savings account….
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Nowadays virtually each individual makes use of saving account. Bank account has grow to be essential in at the moment’s time. In a household, kids also have accounts together with their dad and mom. Be it wage or scholarship, everybody requires a checking account quantity. However, no restrict has been set concerning the most quantity deposited in the financial savings account. But only a few people know that the curiosity you get on financial savings account comes beneath the purview of earnings tax.
Many people in the nation deposit their financial savings in financial institution accounts. Today in this text we’ll let you know when and the way a lot tax is levied on financial savings account. According to Income Tax rules, how a lot tax is levied on the financial savings account.
For info, allow us to let you know that there are two varieties of financial institution accounts – one is Saving Account and the different is Current Account. People who open an account for the function of saving money choose the possibility of saving account.
If we discuss saving account advantages, the financial institution offers many advantages like curiosity in it. Many people do not know that the curiosity acquired on the quantity deposited in the financial savings account is not tax free. This means that we’ve got to pay tax on financial savings account also.
Know when tax is levied on financial savings account
Actually, there is no restrict for depositing money in financial savings account. Many financial institution holders are not even required to take care of minimal steadiness. But when greater than a restrict is deposited in the financial savings account, then the account holder has to pay tax on it.
In such a state of affairs, it is best to preserve in thoughts that you retain solely that a lot money which comes beneath the purview of ITR (Income Tax Return). If you retain extra money in the account than that, you’ll have to pay tax on the curiosity acquired by the financial institution.
Tax is levied on this quantity
According to the Income Tax part, curiosity acquired from financial savings account is also counted as earnings. In such a state of affairs, if the annual earnings of an account holder is Rs 10 lakh and he will get curiosity of Rs 10,000 on his financial savings account. Including this curiosity, his annual earnings will now be Rs 10,10,000. This a lot earnings is taxable as per the Income Tax Act. This means that now the account holder must pay tax on curiosity.
Give details about saving account to earnings tax
According to the rules of the Income Tax Department, if an individual retains greater than Rs 10 lakh in money in his financial savings account in one enterprise yr, then he ought to inform the Income Tax Department.
If they do not do so, the division can also take motion in opposition to tax evasion. Let us let you know that Rs 10 lakh will probably be thought of as earnings and it is taxable.
Income Tax Rule: 90 percent people do not know that the money kept in Saving Account is also taxed, know the rules of Income Tax.
Income Tax Rule on Saving Account: At current, everybody has at the least one financial savings account in the financial institution. You can take benefit of web banking by linking your financial savings account to UPI. You maintain your financial savings in the financial savings account. You also get curiosity from the financial institution on the money deposited in it, which also will increase your revenue, however do you know that the money kept in the financial savings account is also taxed. If you do not know, then allow us to know in the information under that how a lot tax is levied on the money kept in the financial savings account….
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Nowadays nearly each individual makes use of saving account. Bank account has turn out to be essential in right this moment’s time. In a household, kids also have accounts together with their mother and father. Be it wage or scholarship, everybody requires a checking account quantity. However, no restrict has been set relating to the most quantity deposited in the financial savings account. But only a few people know that the curiosity you get on financial savings account comes beneath the purview of revenue tax.
Many people in the nation deposit their financial savings in financial institution accounts. Today in this text we are going to let you know when and the way a lot tax is levied on financial savings account. According to Income Tax rules, how a lot tax is levied on the financial savings account.
For data, allow us to let you know that there are two varieties of financial institution accounts – one is Saving Account and the different is Current Account. People who open an account for the objective of saving money choose the possibility of saving account.
If we speak about saving account advantages, the financial institution offers many advantages like curiosity in it. Many people do not know that the curiosity obtained on the quantity deposited in the financial savings account is not tax free. This means that we now have to pay tax on financial savings account also.
Know when tax is levied on financial savings account
Actually, there is no restrict for depositing money in financial savings account. Many financial institution holders are not even required to keep up minimal steadiness. But when greater than a restrict is deposited in the financial savings account, then the account holder has to pay tax on it.
In such a state of affairs, it’s best to maintain in thoughts that you retain solely that a lot money which comes beneath the purview of ITR (Income Tax Return). If you retain extra money in the account than that, you’ll have to pay tax on the curiosity obtained by the financial institution.
Tax is levied on this quantity
According to the Income Tax part, curiosity obtained from financial savings account is also counted as revenue. In such a state of affairs, if the annual revenue of an account holder is Rs 10 lakh and he will get curiosity of Rs 10,000 on his financial savings account. Including this curiosity, his annual revenue will now be Rs 10,10,000. This a lot revenue is taxable as per the Income Tax Act. This means that now the account holder must pay tax on curiosity.
Give details about saving account to revenue tax
According to the rules of the Income Tax Department, if an individual retains greater than Rs 10 lakh in money in his financial savings account in one enterprise yr, then he ought to inform the Income Tax Department.
If they do not do so, the division can also take motion towards tax evasion. Let us let you know that Rs 10 lakh can be thought of as revenue and it is taxable.
