Steps to e-verify cash deposits made during demonetization (during 9th Nov to 30th Dec 2016)

Did you deposit your old 500 and 1000 rupee notes during demonetization? The Income Tax Department (ITD) has used big data analytics to compare of demonetisation data with information in ITD databases to identify taxpayers wherein the cash transactions do not appear to be in line with the taxpayer’s profile. ITD has enabled online verification … Read more

All that you want to know about Equity Linked Saving Schemes (ELSS)

What is it?A mutual fund that provides you tax benefit under section 80C.ELSS stands for equity linked saving schemes. Maximum limit of investmentThere is no upper limit on investments in ELSS. However, investments of only up to Rs.1.5 lakh per year are tax deductible.  Lock in period36 months or 3 years from date of contribution. … Read more

A tool to calculate the impact on returns if you choose a direct plan over a normal plan of mutual funds

There are two ways to invest in a mutual fund: invest with the fund house directly (using direct plans) or investing through an advisor, broker or distributor (using normal plans). The expense ratio of normal plans is higher than that of a direct plan since you go through an intermediary who is paid a commission … Read more

How to get your credit score from Equifax, Experian and CIBIL for free

In September 2016, the Reserve Bank of India (RBI) mandated that that effective January 1, 2017, all Credit Information Companies (CICs) shall provide access, upon request and after due authentication of the requester, to a free full credit report (FFCR) once in a calendar year to individuals whose credit history is available with the CIC. … Read more

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJY) – How to download your insurance certificate and everything else

The Pradhan Mantri Jeevan Jyoti Bima Yogana (PMJJY) is a life insurance scheme that is a part of the prime minister’s social security scheme. Though I have paid the premiums twice now, I was not sure of the fine print and where I could download the insurance certificate for the Pradhan Mantri Jeevan Jyoti Bima … Read more