(Calendar of Public Holidays in West Bengal under NI Acts) Bank holidays in India are declared as public holidays under explanation to section 25 of the Negotiable Instrument Act 1881. The holiday declared under NI Act is applicable exclusively to the banks located within the administration area of specific State and Union Territory. In other…
(Calendar of Public Holidays in Andhra Pradesh under NI Acts) Bank holidays in India are declared as public holidays under explanation to section 25 of the Negotiable Instrument Act 1881. The holiday declared under NI Act is applicable exclusively to the banks located within the administration area of specific State and Union Territory. In other…
(A Combined holiday list for all the states in India) This post contains All India consolidated list of public holidays /Bank holidays with the particulars of festivals/occasions at each state) Bank holidays in India are declared as public holidays under explanation to section 25 of the Negotiable Instrument Act 1881. The holiday declared under NI…
No changes have been made to existing income tax slabs. FM reduces income tax rate from 10% to 5% for Income up to 5 lakh Tax Credit of 5% of taxable income. (Maximum of Rs. 2500/-) u/s.87A up to the taxable income of Rs.3.50 lakh-. Surcharge of 10% for Tax on those whose annual income…
Bitcoin is talk of town these days. On one hand, some countries like Japan, China and Australia have begun weighing regulations, while on the other, the Reserve Bank of India cautioned the general public, those users or traders of virtual currencies are doing so at their own risk. RBI in its press releases in 2013…
(This article explains the meaning of contract of Indemnity; features of Indemnity Contract, rights and duties of indemnity holder.) Definition of contract of indemnity: Section 124 of contract Acts defines contract of indemnity as “a contract by which one party promises to save the other from loss caused to him by the conduct of the…
Registration of a partnership firm is not compulsory under law. It is left to the partners of the firm to register their firm or not. However,the advantages of registration of a partnership firm are that the registered firm offers an irrefutable legal proof of the existence partnership and the composition of partners, their address,…
Demand loan is a form of short term fiance provided by the banks to their customers. Unlike term loans where loans are granted on a fixed tenure and that shall be repaid in installments as per terms and conditions of the sanction, the demand loans work on the specific demand of the lender.In the other…
(This posts elucidates different types of credit facilities extended by the banks) You may be aware that banks lend various types of credit facilities to their customers viz.Demand Loans, consumer loans, home loans, education loans, term lending, working capital finance, export credit, Bank Guarantee, Letter of credit, etc. Bank finance to their customers is not…
There are two basic types of loans granted by lenders namely Secured and Unsecured loans. The secured loans are those loans which are granted by the lenders taking security from the borrower against the loan. The security may be prime security or collateral security.Prime security is an asset acquired by a borrower under a loan…
