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Finance

Petrol and Diesel Prices : Why High In India?

Petrol and Diesel prices and their hikes are always a hot topic among people. It should be so too; the hike will  affect masses in more than one way including the indirect triggering of inflation. But, is hike in price of Petrol and Diesel under Government Control? Yes and No! India has …

Budget 2013 Summary

Budget 2013 Summary for a quick glance is given below. Finance minister P.Chidambaram presented a budget of 16.6 lakh crore ( L C) this year, which is the biggest budget presented so far. Total Income (Receipts) = 16.6 L Crore * To be met by deficit financing (borrowing) Total Expenditure = …

Provident Fund and Pension Rules – How much will be your pension?

Provident Fund and Pension Scheme Provident fund consists of Employee contribution as well as Employer Contribution. Employee contribution goes entirely into PF fund while  the Employer Contribution is split into PF component as well as pension component. Employee contribution 12 % of the Basic Salary given will be the normal employee contribution to …

Provident Fund and Tax Rules You Must Know

Is Provident Fund Taxable? Provident Fund, though widely considered as tax exempted, there are certain cases where provident fund will be taxed. The best example is  the retirement of an employee before 5 years of service. If the employee retires before 5 years of service, the provident fund on withdrawal …

Income Tax Exemption Claims Limit in India – Did you know these?

Do you know the various options to save your tax? There are various Income Tax Exemption options fully approved by the Government of India. Indian citizens have the option for getting exemptions upto Rs.1 lakh for investments like general insurance, ULIPS, mutual funds or provident fund (Section 80(c)). In additional to …

Must Know HRA Tax Exemption rules in India – Calculate your HRA!

House Rent Allowance (HRA) HRA(House Rent Allowance)is tax exempted. But the amount for HRA to get tax exemption is calculated based on your Basic Salary. How to calculate the amount of HRA you can claim for Tax Exemption? The first task is to find the least amount among the three clauses listed below: Clause 1 …

Pay Life Insurance Policies (LIC) through Credit Card Now!

LIC Introduces Credit Card payment Good news for all insurance payers. Life Insurance Corporation of India (LIC) has introduced credit card payments for payment of premiums. The is a long awaited feature, but implemented      late. Highlights of Credit Card Payment by LIC This is enabled through IDBI Bank payment …

e-filing of Income Tax Return Mandatory or Not?

Should I file Income Tax Return (ITR)? If you have any claims of Refund, Income Tax Return(ITR) filing is a must. But from the Assessment year of 2011-12, Income Tax Return Filing is exempted for those who have total income after deductions  less than 5 lakh, under certain conditions. If you …

World’s Largest Companies By Market Capitalization

1.  Exxon Mobil US Oil & gas producers 84.8 406,272.1 2  Apple US Technology hardware & equipment 405.0 376,410.6 3 PetroChina China Oil & gas producers 1.2 276,844.9 4 Royal Dutch Shell UK Oil & gas producers 36.9 236,677.0 5 Industrial & Commercial Bank of China China Banks 0.6 228,168.1 …

World’s Largest Companies By Revenue

Rank Company Revenues ($ millions) Profits ($ millions) 1 Wal-Mart Stores 421,849 16,389 2 Royal Dutch Shell 378,152 20,127 3 Exxon Mobil 354,674 30,460 4 BP 308,928 -3,719 5 Sinopec Group 273,422 7,629 6 China National Petroleum 240,192 14,367 7 State Grid 226,294 4,556 8 Toyota Motor 221,760 4,766 9 Japan Post …

Top Indian Companies By Net Profit

Reliance ONGC Piramal Health NTPC Bharti Airtel TCS IOC SBI Tata Steel NMDC Infosys BHEL ICICI Bank ITC SAIL Hind Zinc Wipro Coal India PNB Bank of Baroda Canara Bank Larsen HDFC Bank GAIL HDFC Sesa Goa Axis Bank Bajaj Auto Oil India Power Grid Corp Mah and Mah Power …

Top Companies In India By Revenue

IOC Reliance BPCL HPCL SBI MMTC Ltd ONGC NTPC Tata Motors Essar Oil Larsen SAIL BHEL MRPL Bharti Airtel Maruti Suzuki Chennai Petro GAIL Tata Steel TCS PNB Wipro ICICI Bank Infosys Hindalco Mah and Mah JSW Steel Canara Bank Bank of Baroda Bank of India ITC Rajesh Exports STC …

Top Indian Companies By Market Capitalization

Reliance Inds. ONGC Tata Consultancy Coal India Ltd. Infosys ITC Ltd. NTPC SBI Bharti Airtel HDFC Bank ICICI Bank Wipro Ltd HDFC L & T Tata Motors Ltd. MMTC Ltd. Hindustan Unilever L NMDC Ltd. Bharat Heavy Ele Cairn India Ltd. Indian Oil Corp Jindal St & Pwr Hind. Zinc …

Medi Assist – Link for Health Insurance Claims

The New India Assurance Co.Ltd has come up with mediassistindia.net for corporate health insurance claims. The link for the same is as given below: Medi Assist India Also see related posts: Pay Tax Online : Budget 2013 Summary Retirement Benefits: PF, Pension, Gratuity and Superannuation Provident Fund and Pension Rules …

Home Loans – Tax Benefits

A home loan on your property (self occupied) helps you get a tax benefit of up to Rs. 1 lakh on principal repayment u/S 80C (Including all your other investments which can be under 80C). Interest repaid is deductible up to Rs. 1.50 lakhs. On a let out property, the …