Mutual Funds

SBI cuts interest rate on bulk deposits


REUTERS - State Bank of India says cuts interest rate on bulk deposits for 7 days to less than 1 year by 25 bps to 7.25 percent

RBI does not accept any bid at inflation-linked government bond sale

MUMBAI - The Reserve Bank of India said on Monday it did not accept any bid at the 10 billion rupees auction of 1.44 percent 2023 inflation-linked government bonds.

Money Home, Money 29 Jul 2013

Spend for your kids, get tax benefits

In today's world of ever increasing expenses, spending on your children results in a substantial outflow from your pocket. However, did you know that you can get tax benefits on many expenses and investments made in your child's name? This includes a wide variety of expense heads and investments. Most of these investments fall under the ambit of Sec 80C within the Rs. 1 lakh limit. Here are a few such cases, which will help you reduce your tax outflow:

Money Home, Money 12 May 2013

Choices available for home buyers

Home buyers are always looking for the best home they can buy with the resources and time available with them. Now, more than ever, real estate prices are subdued and buyers are again active in the market.

Money Home, Money 12 May 2013

Diversified equity funds rise in April, gold ETFs struggle

NEW DELHI - India's diversified stock mutual funds outperformed the broader market marginally in April, with high exposure to financial services stocks supporting unit values, data from fund tracker Lipper showed.

Money Home, Money 02 May 2013

India's high earners bemoan tax surcharge

MUMBAI/NEW DELHI - High-earning Indians gave a collective groan on Thursday when the government imposed a 10 percent surcharge on their income, following a global trend which it expects to be popular in an election year.

Top News, Money Home, Money 28 Feb 2013

Budget 2013: Additional interest deduction on home loans up to 2.5 million rupees

REUTERS - People buying houses will get an additional deduction of 100,000 rupees on interest payments on their first home loan of up to 2.5 million rupees, Finance Minister P. Chidambaram said on Thursday as he unveiled one of the most highly anticipated Indian budgets in recent years.

Economy, Money Home, Money 28 Feb 2013

Budget 2013: Rich taxpayers to pay 10 percent surcharge

REUTERS - Finance Minister P. Chidambaram introduced a surcharge of 10 percent for one year on taxpayers with an annual taxable income of more than 1 crore (10 million) rupees, in a bid to raise more revenues for India's annual budget on Thursday.

Economy, Money Home, Money 28 Feb 2013

Budget 2013: Notional relief for taxpayers but rich to pay more

REUTERS - Finance Minister P. Chidambaram gave a notional tax break to millions of taxpayers on Thursday with a proposed tax credit of 2,000 rupees in the annual budget to people with income up to 500,000 rupees, but introduced a surcharge on the rich.

Economy, Money Home, Money 28 Feb 2013

Budget 2013: What the common man wants

Just as a farmer gazes into the sky each year waiting for the onset of the monsoon that would lead to a bumper harvest, the common man has a lot of expectations each time the finance minister rises from his seat to present the budget in parliament.

Money Home, Money 20 Feb 2013

TCS net profit rises 51.5 percent, beats estimates

MUMBAI - Tata Consultancy Services Ltd, India's largest IT services exporter, posted a 51.5 percent rise in quarterly net profit, beating expectations, as it won more contracts in Europe and some emerging markets.


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