When the amount of taxes paid by an assessee exceeds his/her actual tax liability for a particular FY, then the Income Tax Department returns the ‘excess tax’ in the form of Income Tax refund. In case you have filed your return and are eligible for a refund, you can check your income tax refund status…
Loan Against Property (LAP) is one of the most effective and preferred ways to raise large loan amounts, by keeping your property as collateral with banks or other financial institutions. LAP allows a borrower to get access to big amounts at low rates of interest. Apart from the high disbursement amount, other key benefits of LAP…
The Union Budget has been announced and was broadly built on the base provided by the Interim Budget 2019 presented on 1st February 2019. The following are some of the key Budget 2019 announcements made by Finance Minister Nirmala Sitharaman that are expected to impact the common man. Affordable Housing Home Loan Benefit Affordable housing…
The Reserve Bank of India (RBI) has decided to waive all charges on fund transfer made through Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems from July 1, 2019. With a view to push digital transactions, it has been decided to do away with the charges levied on these fund…
The Reserve Bank of India (RBI) has decided to extend the RTGS (Real Time Gross Settlement) timings by one and a half hours from 4:30 pm to 6:00 pm. The new RTGS service window for customer transactions will be available to banks from 8 am to 6 pm on a working day and the final…
Based on the recommendations of an internal committee under the current executive director in charge of NBFC supervision, the Reserve Bank of India approved creating a specialized supervisory and regulatory structure for commercial banks, urban cooperative banks and non-banking financial companies (NBFCs). This specialized structure will include consolidating the different supervisory and regulatory activities and…
According to the Bank of Baroda (BOB) officials about the merger of Dena Bank and Vijaya Bank with Bank of Baroda, around 800-900 bank branches have been recognized which needs to be rationalized. “It does not make sense to have branches of Dena and Vijaya at the same location when both have been merged…
Under existing income tax rules, an income tax return (ITR) needs to be submitted annually with the tax authorities. ITR is best defined as a statement of income from various sources, details of tax saving investments/donations, applicable income tax liability, tax deducted at source (TDS), advance tax paid, balance tax payable, etc. provided by the…
