Finance Minister Nirmala Sitharaman on Thursday said the government will roll back a steep interest rate cut on small saving schemes such as PPF and NSC -- saying it was an oversight, a move being seen as an attempt by the ruling Bharatiya Janata Party to contain the fallout of a decision hitting the common man in the ongoing elections in West Bengal, Assam and three other states.
The next revision will make the rates similar to those of bank FDs.
Investments and expenses under section 80 C allows various tax benefits, says Harjot Singh Narula
There will be higher charges for bank account-holders.
Before you file your income tax return this year, have a look at the amendments that might help you take the most possible tax benefit.
'Where in the world you get 12.5 per cent return of interest?'
Equity-linked savings scheme, PPF and Sukanya Samriddhi Yojana are recommended instruments.
Overall, small savings have amassed Rs 1.17 trillion from April-September - 26 per cent more than the previous year. But in those six months, the economy lost 24 per cent in the first three months, and is slated to lose 10 per cent in the second quarter.
Government to pay disproportionately high interest for borrowings from savings, overturning a nearly two-decade-long process of reforms in the management of public debt.
Sandeep Shanbhag offers tips on post Budget taxation rates.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Plan these investments well rather than just doing random investments at the beginning of the year or rushing in at the end, advises Harshad Chetanwala, co-founder, MyWealthGrowth.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
In an online chat with readers a few hours after the Union Budget 2015-16 proposals were announced by Finance Minister Arun Jaitley, Sundeep Agarwal, Director, PwC India, answered related queries to help put the announcements into perspective.
The Child Protection Services programme under the Integrated Child Development Services was increased to Rs 1,500 crore from Rs 925 crore.
Mudra Bank will be a Rs 20,000-crore institution, which would "primarily be responsible for refinancing all micro-finance institutions.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Simple takeaways from the Union Budget 2015-16 and how it impacts your life
Indian economy about to take-off
