Business Short News

What is Standard Deduction in India?

What is Standard Deduction in India?

  • Standard Deduction is a fixed deduction from the salary irrespective of the position held in the organization.
  • Since a fixed amount is deducted from the annual salary, it reduces the taxable income, and hence the tax paid amount will also reduce.
  • A Salaried employee and a pensioner can claim Standard Deduction.

Asia's Richest Lost Their Wealth For The First Time In 5 Years

Asia's Richest Lost Their Wealth For The First Time In 5 Years

Asia, the fastest growing mega-wealth generator saw a bump in 2018. Out of the 128 Asians that are listed on the 500-member Bloomberg Billionaire Index collectively lost $317 billion this year. This is the first time since the ranking started in 2012 that the region's wealth has fallen. Trade tensions and concerns over lower stock valuations

How To Claim Unclaimed Insurance Benefit?

How To Claim Unclaimed Insurance Benefit?

Still if after even vigorous exercise, the amount gets unsettles, the unclaimed fund is invested and the earnings on it would be then diverted to the respective unclaimed amount. Unclaimed amount i.e. left unsettled for over 10 years is transferred to Senior Citizens' Welfare Fund. When there is a maturity claim, the insurer notifies it via SMS alert or e-mail.

SBI, HDFC Bank And ICICI Bank Cheque Bounce Charges

SBI, HDFC Bank And ICICI Bank Cheque Bounce Charges

The dishonour of an issued cheque or "cheque bounce" is when a cheque presented at the bank cannot be processed for various reasons. Before we go to the penalty charged by most popular Indian banks, let's look at the common reasons for a cheque bounce and why you should not take writing a cheque lightly.

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