Which Bank Rd is best?
Here are some banks that offer the best interest rates for RD schemes:
- Deutsche Bank gives 7.50% p.a. for 5-year deposits, which is one of the best RD rates in India.
- For 1-year tenure, Lakshmi Vilas Bank offers the highest returns, at 7.50% p.a., followed by IndusInd Bank at 7.60%.
Is KBC fixed?
No. KBC India is not at all rigged. However, It is one of the most reputable reality show in India. You can get more information about KBC on this site .
Which scheme is best in post office?
3. Comparison of the various Post office savings schemes
| Scheme | Interest Rate | Maximum Investment |
|---|---|---|
| National Savings Certificates (NSC) | 6.8% p.a. (Compounded annually) | No limit |
| Kisan Vikas Patra (KVP) | 6.9% p.a. (Compounded annually) | No limit |
| Sukanya Samriddhi Accounts | 7.6% p.a. (Compounded annually) | Rs 1.5 lakh per financial year |
How much amount of FD is tax free?
A tax-saving fixed deposit (FD) account is a type of fixed deposit account that offers a tax deduction under Section 80C of the Income Tax Act, 1961. Any investor can claim a deduction of a maximum of Rs. 1.5 lakh per annum by investing in a tax-saving fixed deposit account.
Which is better RD or FD?
Returns: When returns in FD or RD are compared, then FD seems to give higher returns. The reason is that in RD, the account holder deposits monthly and therefore, the interest is also earned accordingly. Usually, the FD amount is deposited once, and is a lump sum that earns a higher interest rate.
Which govt bank is best for savings account?
8 Best Zero Balance Savings Account In India
- IDFC First Bank Pratham Savings Account.
- YES Bank Smart Salary Advantage.
- IndusInd Bank-Indus Online Savings Account.
- DBS-DigiSavings.
- Kotak Mahindra Bank-811 Digital Bank Account.
- HDFC Bank – Basic Savings Bank Deposit Account.
- SBI – Basic Savings Bank Deposit Account.
- Standard Chartered Basic Savings Bank Deposit Account.
Is FD tax free in post office?
Features & benefits of Post Office Fixed Deposits There is no limit to the number of FD accounts you can open at the post office. You can claim income tax deduction under Section 80C of the Income Tax Act of India, 1961, on the deposit you have made in the 5-year fixed deposit account.
Is rd a good investment?
Recurring Deposits are not prone to risks and is one of the safest form of investment. Returns that you can expect from the SIP are variable. There can be a risk of capital and returns depending on the stock market. But, recent data shows us the SIP gives good returns if held for a long period of time.
How much is an award taxed?
In computing the amount of tax to be withheld for prizes and awards, the fair market value of the award or prize should be treated as supplemental wages, which have a withholding rate of 28%.
What is the tax for 1 crore?
1 Crore, the amount payable as income tax and surcharge shall not exceed the total amount payable as income tax on total income of Rs 50 Lakh by more than the amount of income that exceeds Rs 50 Lakhs….
| Taxable income | Tax Rate |
|---|---|
| Up to Rs. 10,000 | 10% |
| Rs. 10,000 to Rs. 20,000 | 20% |
| Above Rs. 20,000 | 30% |
Who bank gives maximum interest?
Fixed Deposit Interest Rates by Different Banks
| Bank | Tenure | Interest rate |
|---|---|---|
| ICICI Bank | 7 days to 10 years | 4% to 7.25% |
| Punjab National Bank | 7 days to 10 years | 5.70% to 6.85% |
| HDFC Bank | 7 days to 10 years | 3.5% to 7.40% |
| Axis Bank | 7 days to 10 years | 3.5% to 7.25% |
Is loyalty award taxable?
Clothing allowance, cash gift and loyalty cash award are also not taxable, the petition added, because these are de minimis benefits, which are offered by the employer as a means of promoting health, goodwill contentment or efficiency of workers.
What is the tax payable salary?
How to Calculate Taxable Income on Salary?
| Net Income | Income Tax Rate |
|---|---|
| Up to Rs.2.5 lakhs | Nil |
| Rs.2.5 lakhs to Rs.5 lakhs | 5% of (Total income – Rs.2.5 lakhs) |
| Rs.5 lakhs to Rs.10 lakhs | Rs.25,000 + 20% of (Total income – Rs.5 lakhs) |
| Above Rs.10 lakhs | Rs.1,12,500 + 30% of (Total income – Rs.10 lakhs) |
Which deposit is best?
Fixed Deposit Interest Rates
| Bank name | Tenure | Interest rate (%) per annum |
|---|---|---|
| IDFC Bank | 91 days to 180 days | 6.75 |
| Kotak Mahindra Bank | 181 to 363 days | 6.5 |
| SBI | 180 to 210 days | 6.35 |
| Axis Bank | 6 months to 8 months 29 days | 6.25 |
Has anyone won 7 crores in KBC?
Narula Brothers wins KBC Season 8 Again Amitabh Bachchan being the host of season 8 of Kaun Banega Crorepati. Both the brother won the cash prize of Rs. 7 Crore.
How is Post Office Rd interest calculated?
Interest on a post office recurring deposit is compounded every quarter. Account-holders will earn interest on their deposits every 3 months, which totals to 4 times in a year.
How much is tax on FD?
When does the bank deduct TDS @ 10% The bank estimates your interest income for the year from all the FDs you have with the bank. There would be a 10% TDS deduction if your interest income exceeds Rs 40,000 (Rs 50,000 in the case of senior citizens).
Which bank is safest in India?
List of Best, Safe Banks in India
- 1) HDFC Bank. If market confidence is a measure of the soundness of a Bank, then HDFC Bank takes the cake.
- 2) State Bank of India.
- 3) ICICI Bank.
- 4) AXIS Bank.
- 7) Kotak Mahindra Bank, IndusInd Bank.
Do you have to pay taxes on awards?
The Internal Revenue Code states that under certain circumstances the value of prizes and awards/gifts to individuals is considered taxable income. Merchandise or products won as a prize or award will be considered at the fair market value and could also be considered taxable income.
Which account is best for savings?
Top Banks that have the Best Savings Account for Individuals
- State Bank of India (SBI) Savings Account.
- Kotak Mahindra Bank Savings Account.
- DBS Bank Savings Account.
- RBL Bank Savings Account.
- IndusInd Bank Savings Account.
How are the awards exempted from income tax?
Krishna: Arjuna, Awards may be divided in two sections i.e. some Awards are Tax-free in Exemption section 10(17A) and some Awards are taxable under section 56(2) under the head “Income from other sources”. It means that only Government approved Prizes are tax-free.
What is the interest of 1 lakh in SBI?
– By booking FD of Rs 1 lakh in SBI for 5 years till September 30, senior citizens can earn 39,406 as interest amount and withdraw a total of Rs 1,39,406 after five years, as per official SBI maturity calculator.
How much tax is deducted from KBC?
The money won is still considered as an income and is therefore taxable. According to the Section 56 (2)(ib) of the income tax act, 1961, any money earned by such games shows, gambling or any betting is considered as Income from Other Source. These incomes will see a tax of 30 percent.
Is Rd maturity amount is taxable?
You should be aware that the RD amount is subject to TDS and the maturity would vary if TDS gets deducted. Tax Deducted at Source (TDS) is applicable on Recurring Deposits. If interest earned on FD AND RD exceeds Rs. 10,000 in a FY per Customer ID, TDS at the rate of 10% would be deducted by the bank.
How are taxes on prize winnings calculated?
Prize Tax Rate Calculator for Cash The U.S. government requires 24 to 37 percent to be taken off the top of any prize over $5,000, depending on the prize amount. A flat rate of 24 percent will be taken immediately before you receive your money. For large prizes, you may have to pay more in your tax return.
Is RD is tax free?
Is RD interest taxable?: Recurring Deposits attract no tax exemptions. Income tax has to be paid on the Interest amount received from Recurring Deposits. The tax has to be paid at the rate of the tax slab of the RD holder.
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