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According to a report in The Hindu in January 2013, the Reserve Bank of India raised the ECB limit "for non-banking finance companies (NBFCs) classified as infrastructure finance companies (IFCs) ... from 50 per cent to 75 per cent of owned funds, including outstanding ECBs". [2] In telecom sector too, up to 50% funding through ECBs is allowed.
Exemption limit: As specified in Part III of I Schedule 193: Interest on securities: Subject to provisions: 10% 194A: Other interest: Banks – ₹10,000 (under age 60); ₹ 50,000 (over 60). All other interest – ₹5,000: 10% 194B: Lottery winnings ₹10,000: 30% 194BB: Horse-racing winnings ₹10,000: 30% 194C: Payment to resident contractors
As per an analysis by the Revenue Department, 91.7% of tax filers (about 5.3 crore out of 5.78 crore tax filers) claimed a cumulative deduction (Sec 80 (C) + Sec 80 (D) + NPS + Loan Interest Repayment + Standard Deduction + others) of less than ₹2 lakh and less than 1 per cent of all tax filers (nearly 3.7 lakh) claimed deductions of over Rs ...
Contributions to NPS receive tax exemptions under Section 80C, Section 80CCC, and Section 80CCD(1) of the Income Tax Act. Starting from 2016, an additional tax benefit of Rs 50,000 under Section 80CCD(1b) is provided under NPS, which is over the ₹1.5 lakh exemption of Section 80C. [18] [19] [20] Private fund managers are important parts of NPS.
The rate of interest charged on loan taken by the subscriber of a PPF account on or after 12 December 2019 shall be 1% more than the prevailing interest on PPF. Public Provident Fund Scheme, 2019 has reduced the interest spread to 1 (one) percent from an earlier spread of 2 percent.
From 2012, service tax is imposed on all services, except those which are specifically exempted under law(e.g. Exempt under Negative List, Exempt as exclusion from Service definition as per Service Tax, Exempt under MEN(Mega exemption notification)).
But at 6.75%, your monthly mortgage payment would be $2,075.51, according to calculations from Mortgage Calculator. That means you could save $641.52 per year in this scenario just by getting that ...
A borrowing limit is the amount of money that individuals could borrow from other individuals, firms, banks or governments. There are many types of borrowing limits, and a natural borrowing limit is one specific type of borrowing limit among those. When individuals are said to face the natural borrowing limit, it implies they are allowed to ...