The EPF (Employees’ Provident Fund) is an investment scheme launched by Govt. for salaried individuals and is maintained solely by the Employees’ Provident Fund Organisation of India (EPFO). As per EPF scheme, any establishment having more than 20 employees has to register with the EPFO. Every employee is allotted UAN (Universal Account No.) by EPFO…
DetailsPAN is an alphanumeric number which contains 10 characters. First five characters are alphabetic, then 4 are digits and the last one is also alphabetic. It can be divided into five parts: First three characters are alphabetic series running from AAA to ZZZ. Fourth character of PAN represents identity of PAN owner as follows: C…
DetailsA salaried person who is in receipt of HRA from his/ her employer can save tax by claiming exemption of rent paid by him/ her. People usually finds it difficult to understand. I will try to make it more clear HRA is always calculated on monthly basis. It means if you are not paying rent…
DetailsPAN is required to pay income tax. Service tax and excise registration can be obtained only if one has PAN. All documents related to financial transactions. Sale and purchase of immovable property. Purchase of any motor vehicle. For depositing cash more than INR 50,000 in bank account or post office. For term deposit (FD) of…
DetailsParticulars Sukanya Samriddhi Account (SSA) Public Provident Fund (PPF) Who can open Only girl child Indian Citizen Where to open Post office and Authorized Banks Post office, Govt. Banks and some private banks Minimum Contribution per year INR 1,000 INR 500 Maximum Contribution per year INR 1,50,000 INR 1,50,000 Maximum no. of contribution No limit…
DetailsWhat is PAN? PAN (Permanent Account Number) is a 10 digit alphanumeric code allotted by Income Tax Dept. to the taxpayers. This PAN identifies in whose account Tax has been paid. While making payment of Tax, it is necessary to quote PAN. It is issued in the form of a card (laminated). First 5 characters…
DetailsFeatures of Sukanya Samriddhi Account This account is only for Minor Girl Child. It can be opened by Natural or Legal Guardian of minor girl child. Only one account per girl child is allowed. Age of minor girl child should not be more than 10 years at the time of account opening. For financial year…
DetailsLink to Download Notification Sukanya Samriddhi Account Rules, 2014 In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules, namely:— Short title and commencement 1. (1) These rules may be called the Sukanya Samriddhi Account Rules, 2014. (2)…
DetailsThere are following types of Bank Accounts: Current Account Savings Account Recurring Deposit Account Term Deposit or Fixed Deposit Current Accounts are meant for businessmen and are not used for the purpose of investment or savings. These deposits are the most liquid deposits and there are no limits for number of transactions or the amount…
DetailsNSC is a mean to save tax for tax payers. It has again been introduced by the Govt. Features are There is no maximum limit for investment. A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor. Maturity value of a certificate…
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