KYC stands for Know Your Customer. KYC norms regulate the collection of relevant information that your bank must obtain from you for the purpose of opening a bank account or doing business with you. The objective behind KYC or Know Your Customer is to prevent money laundering, financial fraud and other fraudulent activities. This also helps the bank to understand their … [Read more...] about What does KYC mean to a bank?
5 things to consider before opening your bank account
Choosing a bank for opening your saving or current account will not be a difficult task if you know your requirements. Here is a checklist that everyone should consider before opening a saving or current account to ensure that you are getting most out of it. Choose a Bank for opening your account Before choosing a bank, you should look at several other banks to know what they … [Read more...] about 5 things to consider before opening your bank account
5 Best banks for your car loan
Owning a car has increasingly become a necessity of life. If dream of owning a car takes a back seat due to your other expenses and plans in life then you can fulfill your dream by apply for a car loan. These loans are approved based on the strength of applicant's income. Document requirements and other details like photo, ID card and address proof are same for all … [Read more...] about 5 Best banks for your car loan
5 things to check while opening demat account with a DP
Demat account can be opened with any authorized depository participants. These depository participants are trying to woo customers for opening a demat account. Here in this article, we have listed five most important factors to help you choose where you should open a demat account. Demat account charges Three different types of fees are charged to a demat account. These … [Read more...] about 5 things to check while opening demat account with a DP
5 things to check while opening your Bank Account
Most Indian banks offer facilities to entice you in opening a bank account with them. It’s important to look past these and focus more on the long term benefits. Choosing a bank that meets your requirement is quite easy if you know your needs. Based on your requirement you can pick and chose a bank that fulfills your criteria. After having a list, remember to ask it’s … [Read more...] about 5 things to check while opening your Bank Account
How to determine break even point – BEP
Break even point or BEP is the point where you have zero loss or profit. At break even point, total revenue of the company will be equal to total cost i.e. fixed and variable costs. Beyond this point, the company will generate profit. Similarly if a company is not able to touch Break Even Point then it will have loss, as total cost will be higher that its total revenue. A … [Read more...] about How to determine break even point – BEP
How to open a Demat account in India
Demat Account refers to dematerialized account. An investor who wants to buy or sell securities from stock exchange is required to receive deliveries in dematerialized form. To make deliveries of these securities, you are required to open a depository account or demat account. Since January 1999, SEBI has made it compulsory for all investors to settle their trade in demat … [Read more...] about How to open a Demat account in India
Documents required while filing income tax return
Filing income tax return does not require anyone’s assistance or help if you know the right procedure to do it. You need to give yourself plenty of time to work through the tax forms and documents, and then you will have confidence in filing IT return. If you have decided to file your Income Tax return with the help of a professional then you just need to bring all the … [Read more...] about Documents required while filing income tax return
5 income tax documents an individual should be aware of
When it comes to IT return preparation, there are certain relevant documents which everyone at the year end will be searching for. Even hiring experts to prepare your IT return require you to produce these documents. To do it right, we suggest you to collect all relevant documents before the due date of filling. Here is a quick guide to help you understand 5 tax documents that … [Read more...] about 5 income tax documents an individual should be aware of
What are the taxable heads of income in IT act
As per IT act, total income of a person is to be classified under five different heads for the purpose of charging tax. Although there is only one tax, rules for calculating it are different based on these heads of income. One person can get taxed under all these heads if he is incurring those types of income as specified in IT act. To compute it under each of these heads, … [Read more...] about What are the taxable heads of income in IT act