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Equity-Linked Savings Schemes (ELSS) fall under Section 80C of the Income Tax Act of 1961, which permits an individual or HUF to deduct up to Rs. 1.5 lacs from their gross income. According to the guidelines of Section 80C of the Income Tax Act of 1961, an ELSS fund or an equity-linked savings scheme is
The Employees’ Provident Fund was established under the Miscellaneous Provisions Act, 1952 (“Act”), which is applicable throughout India. The Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, governs the Employees’ Provident Fund Scheme (EPFS). It is a long-term retirement savings plan that is managed by the EPFO. Read: What is a Systematic Investment Plan (SIP)?
What is Digital Loan? In India, financial technology, or fintech, is frequently touted as a potent instrument for fostering financial inclusion. The financial technology (fintech) advances that have completely changed how loans are obtained and disbursed are to be credited for the recent boom in the popularity of the banking, financial services, and insurance industries.
SIP is like a tool or an investment strategy. The abbreviation SIP means Systematic Investment Plan. SIP is a method to invest in mutual funds, whereas mutual funds are an investment product or vehicle. SIPs, or Systematic Investment Plans, are a type of mutual fund investment. That’s why a Systematic Investment Plan, known as a
Money management is not a skill that comes naturally to everyone. It is acquired through firsthand experience and observation. Teaching children to save is a key first step in helping them understand the significance of financial literacy and how to manage money. Read: How to Claim Life Insurance Policy? It shouldn’t, however, end there. Despite
What is TREPS in Mutual Funds? Financial institutions, banks, mutual funds, etc. borrow and lend money without taking any risks in exchange for government-issued securities through Tri-party Repos (TREPs). A tri-party lending system called TREPs was introduced on November 5, 2018, and it consists of a borrower, a lender, and a tri-party agent. The tri-party
How Do I Save Tax With a Life Insurance Policy? When someone starts working and earning money on his own, a life insurance policy is typically the first investment he makes. Everyone wants to assure his safety as well as the protection of his loved ones in case of his passing, and the best method
How to Delete PhonePe Transaction History? India is home to a wide range of locally produced digital goods and services, including numerous well-liked unique local payment options. Alternative payment options are a crucial component of the payment landscape in a nation where only 4% of customers have access to a credit card. PhonePe is a
Type of Life Insurance Policies Plans? It is essential to purchase the greatest life insurance coverage that meets your financial demands because death is the one thing in life that is guaranteed. Moreover, it is a bigger truth that the loss of any close one can’t be compensated. We have seen everything during the past
If anyone wants to control his risk in life, insurance is one of the finest options. To safeguard the future of one’s family, one must make an important investment in life insurance. The investment in insurance never goes in vain. It is always beneficial, and as in the case of any mishappening, insurance plays a
