You need not visit the website of each and every mutual fund house. Instead, you can add nominees on Karvy (KFintech), CAMS, and MFCentral websites. Different brokers have different procedures for updating nominee details.
Tax deducted at source (TDS) aims to collect tax from the income source. The collector who has to make a specified payment must deduct TDS and remit this amount to the Central Government’s account. The deductee (from whose payment the TDS is deducted) receives credit for the same amount
With technological development, you no longer need to visit the bank to transfer money from one account to another. Using online platforms, you may now easily execute all your banking transactions via the internet or mobile banking. Although there were some concerns about the safety of digital transfers, the convenience
Form 16 is a certificate issued by employers to their employees. It shows that tax deducted at source (TDS) as per the government norms has been deducted on behalf of the employees. The form reflects a detailed summary of the total salary paid to the employees and the applicable TDS
Digital banking is done online via digital platforms, and it eliminates paperwork. Various banking services, such as moving cash deposits, account management, bill payments, fund transfers and withdrawals, investments, and loan applications and management are digitalized. What is digital banking?Today, most customers have smartphones and other gadgets, giving them
An important component of investment planning is insurance, which helps in achieving financial stability. It is an agreement between the insurer and the insured to reduce the risks and provide protection against possible financial losses arising due to uncertainties. You pay a certain amount known as a premium to the
Income-tax-related terms can be confusing and have different objectives and meanings. TAN, PAN, and TIN are some common abbreviations you come across while contacting the Income Tax Department or filing your returns. Each of these terms has its subtle nuances and understanding these beforehand can simplify the tax-filing procedure. What
The National Pension System (NPS) was launched by the government in 2004, primarily for government employees. In 2009, it was made available to all citizens. You may invest in this pension scheme until retirement. When you turn 60 years old, you are allowed to withdraw 60% of the accumulated corpus,
The Income Tax Act, 1961 offers several benefits and deductions when you invest in certain financial products. Section 80C is a clause in the Act that lists the investments and expenses that are eligible for income tax deductions. The maximum deduction under this section is limited to INR 1.50
It’s week three of SIMS 2020 the lockdown and some of us are enjoying the perks – more time at home, lesser laundry, “house parties”, and almost zero traffic. Some gifts though, are a little more surprising. Like the RBI allowing you to not pay off your loans for the