The subscription for the tenth tranche of the Sovereign Gold Bonds (SGBs) scheme, the 2020-21 Series X, has opened on January 11, 2021, and will close on January 15, 2021. The SGBs will be allotted on January 19, 2021. Issue price : Rs 5,054 (per gram of gold) for payment through digital mode. Government of…
Updated 01.01.2021 The Finance Ministry of Government of India on December 31 said in a statement, “The rates of interest on various small savings schemes for the fourth quarter of 2020-21, starting from January 1 and ending March 31, 2021, shall remain unchanged from those notified for the third quarter (October to December). The interest…
A person’s gross total income chargeable to tax is a sum of income under various heads such as ‘income from salary’, ‘income from other sources’ etc. One of these heads of income is ‘Income from House Property’. The income from House property is added to the person’s total income for assessment of tax only if…
For the FY 2020-21, Salaried individuals, who have no business income, have the option to choose between the old (existing) and new tax regimes u/s 115BAC as per their convenience. There are different types of income allowed as deduction while computing the income chargeable under the old rule. There are different Sections of the Income…
The Sovereign Gold Bond Scheme 2020-21 – Series IX will be open for subscription for the period from December 28, 2020 to January 01, 2021. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the…
The insurance regulator IRDAI has come out with a standard individual term life insurance product, to be known as “Saral Jeevan Bima”. The policy shall be mandatorily offered by all the life insurance companies from January 1, 2021, onwards. In this respect, all life insurers have to file the product with the insurer latest by…
The Insurance Regulatory and Development Authority of India (IRDAI) has issued guidelines to all General and Health Insurers offering indemnity based Health Insurance products of both Individual and Group (excluding PA and Domestic / Overseas Travel). These provisions and guidelines were issued by IRDAI under the provisions of Section 34(1) of the Insurance Act, 1938…
The interest in the small savings scheme for the quarter October to December 2020, remains unchanged. On Wednesday, September 30, the finance ministry made an announcement that the interest rates on small savings schemes basket comprise 12 instruments including the National Saving Certificate (NSC), Public Provident Fund (PPF), Kisan Vikas Patra (KVP), and Sukanya Samridihi…
The fifth tranche of Sovereign Gold Bonds is open for subscription from today until the 7th of August, 2020. The issue price is Rs. 5,284 per gram including an Rs. 50 discount for online applications.These bonds are a substitute for holding physical gold. Each of those tranches will be kept open for a specified period…
Sovereign Gold Bond Scheme 2020-21-Series III will be opened for subscription for the period from June 08, 2020 to June 12, 2020 as per RBI press release today. As per the notification, the issue price of Gold Bond will be ₹4,627/- (Rupees Four Thousand Six Hundred and Twenty Seven only) per gram of gold. The…