Business Short News

• Know Your Customer (KYC) is a process that has to be complied by financial institutions.
  
• These set of institutions obtain information about the identity and address of the customers.
  
• The Government of India has notified six documents as 'Officially Valid Documents (OVDs) for the purpose of producing proof of identity.

If you are new to investing you do not want to begin the investing journey with high risk high beta stocks, that can result in losses. There have been many beginners to stock investing in India, who have invested money and never recovered that money. Once the disappointment sets in, you do not want to ever invest again.

Interest rates have fallen a great deal and investors are now looking at the best AAA rated deposits to invest in. Rating agencies like Crisil, ICRA and CARE offer ratings to the fixed deposits of companies. This is very necessary since fixed deposits of companies are not secure deposits, so you need to be careful.

• 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.