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The Income Tax Department has released the Income Tax Return Form (ITR Form) for the financial year 2019-20. For this, the government has also issued a notification. The last date to fill the ITR form for the financial year 2019-20 is 30 November. The department has issued 7 different forms this time. These include ITR-1 (Sahaj), ITR-2, ITR-3, ITR-4 (Sugam), ITR-5, ITR-6, ITR-7 and ITR-V (verification) forms. The Income Tax Department had earlier withdrawn Form 1 and Form 4 to include changes in tax rules due to the COVID19 epidemic. The Income Tax Department has given information about the new forms by tweeting. Taxpayers will have a separate space in each ITR form to provide details of expenses or investments made during the quarter ended 30 th   June. Add caption Who else has to fill the ITR form? ITR 1 Form: Citizens with an income up to Rs 50 lakh can fill this form. This includes income from salary, a house and interest. ITR 2 Forms: ITR 2 F...

Former CEO of UTI, Leo Puri will take over as chairman of foreign investment bank JP Morgan India. Kalpana Morparia, a well-known banker, will retire in the first quarter of 2021. Morparia commended the bank for the last 12 years. This change has come when the Supreme Court has ordered the attachment of JP Morgan's property in the Amrapali Group case. The bank has given information in its internal memo that Leopuri will take charge of the bank. However, Kalpana Morparia will continue in office till then. JPMorgan has said that Kalpana Morparia, chairman of South and South East Asia, appealed to retire from the company. She will remain in the bank until the first quarter of 2021. She will also continue to help the bank in South and Southeast Asia. The reason is that the company and customers are trying to balance with the new economic and work environment. Kalpana Morparia worked at ICICI Bank for 33 years before joining JPMorgan. During his tenure, ICICI Bank CEO was KV...

The Reserve Bank of India (RBI) made several announcements on Friday to accelerate the sluggish economy due to the Corona transition. Giving details of the measures in a press conference, RBI Governor Shaktikanta Das said that the period of loan moratorium (deferment for repayment of a loan) is being extended by three months. The RBI governor said that the global economy has been affected badly due to the Corona infection. Due to this, the income of the common man has also been affected. In view of this, the EMI payment exemption period is being extended until August. That is, now borrowers will not have to pay EMI till 31st August. However, this facility is voluntary and if one wishes to pay EMI, he can. The RBI has barred all commercial, regional, rural, NBFC and small finance banks from recovering EMIs of all types of term loans. Postponing the payment of EMI will not affect the credit score of the common man. The RBI has stated that the moratorium period will not b...

A fourth lockdown has started inside the country, which will run till 31 May. Till then air travel in the country will also be closed. However, in the meantime, some airline companies have started flight bookings. Explain that all types of domestic and international flights are closed till 31 May due to the lockdown which started from 25 March within the country. The government has not issued any guidelines to start them. A source said that domestic airlines have started booking flights since June. A SpiceJet source said that the company has started booking for international flights from June 15. At the same time, sources in Indigo and Vistara said that both companies are booking for domestic flights. There have been no official comments from SpiceJet, Indigo, Vistara and GoAir to begin booking. Soon after the national lockdown was extended to May 31, aviation regulator DGCA said on Sunday that all scheduled commercial passenger flights were suspended until midnight o...

There is no doubt about Systematic Investment Plan (SIP) is one of the best ways to invest our money systematically. It inculcates two very important principles of financial investing—discipline and long-term approach. SIP has become the most popular investment tool for investing in Mutual Funds in the last decade because it helps us to invest small amounts every month and build substantial wealth over the long term. Not only that, but it also helps us in achieving various financial goals like retirement, child’s education and marriage, buying a house, car, etc. There is no denying that SIP is the best investment tool and has done well for us. It has helped people build their wealth in the long term and not many people have complaints with regular SIPs as they have learned that they will be able to reap the fruits if they invest for the long term in the SIP. Why opt for Step-up SIP? A traditional SIP is good, but it can be made even better if i...

India Ratings and Research (Ind-Ra), a Fitch group company further reduced its estimate for India's gross domestic product (GDP) growth rate to 1.9 per cent for 2020-21. Earlier in the year 1991-92, India's GDP growth was recorded at 1.1 per cent. In a note released on Monday, the agency changed its estimate of 3.6 per cent GDP growth announced on March 30 to 1.9 per cent. The agency's chief economist Sunil Kumar Sinha said, "This an estimate is based on the assumption that the partial lockdown will continue till mid-May." The entire lockdown due to COVID19 is scheduled to end on 3 May. However, experts want it to continue in the hotspot for some more time. The agency's estimates suggest that GDP could return from the third quarter of the year 2021 (October – December 2020) to the level of the fourth quarter of the year 2020 (January – March 2020), if the second quarter of the year 2021 The resumption of normal economic activities during (...

The government has given an opportunity to buy gold at cheaper rates. Investors can buy gold much cheaper than the market price under the Sovereign Gold Bond scheme and today is its first day. So if you want to take advantage of this plan, don't delay. The profit on its sale will be exempt under the Income Tax rules. Let's know about this plan. The investment period under the scheme has started from 20 April 2020 and its last day is 24 April 2020. The government has given up to five days to invest in the scheme. This is the first series of the financial year 2020-21 for the government to invest in gold bonds. In the next slide, we know about the price and plan of gold. Under the scheme, you can buy gold at Rs 4,639 per gram. That is, if you buy 10 grams of gold, then it costs Rs 46,390 and if the gold bond is purchased online, then the government gives an additional rebate of Rs 50 per gram to such investors. That is, investors buying gold online will have to...

Debt mutual funds provide investors with an honest choice to get stable returns. At an equivalent time, these funds are liquid and you'll withdraw your money any time after you begin. However, at the time of redemption, you've got to remember the capital gains tax on the gains you earn. Capital gains ask the difference between your redemption value and therefore the initial investment. Here is how you'll do this. Step 1: remove your account and check if you were invested within the dividend or the expansion plan of a fund. just in case of dividend plan, the surplus is paid out as a dividend, which is taxed as a dividend distribution tax at an efficient rate of 29.12 per cent. Once the dividend is paid, the internet asset value falls to the extent of the payout. However, Budget 2020 has removed the dividend distribution tax and effective April 1, 2020, dividends are going to be taxed within the hands of the investor at his applicable slab rate. Due to ...

India is the most efficient country in the world in digital work. The survey released by Gartner Inc. stated that about 67 per cent of digital workers in India have rated newly developed technologies like machine learning (ML), artificial intelligence (AI), Internet of Things (IoT) as superior to work. According to the Gartner 2019 Digital Workplace Survey, India is the most efficient country in the world in the digital field. After this, Britain and America are in second and third place. The survey states that most Indians know how to use new technologies in the digital space. Not only this, but they are also showing interest in learning new techniques. Gartner's Principal Research Analytics, Rashmi Chaudhary, stated that 27 per cent of digitally functioning employees in India are fully skilled in this field. At the same time, 7 out of every 10 employees see new technologies as high salary and better job opportunities. Technical professionals believe that th...

                                                 NFO Details Investment Objective The scheme seeks an investment return that corresponds to the performance of the S&P 500 Index, subject to tracking error. However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved. Minimum Application Amount Rs. 500/- and multiples of Re. 1/- thereafter Plans & Options Plans - Direct & Regular Plan. Options - Growth & Default plan/option Benchmark Index S&P 500 TR Index NFO Open Date 15 th April 2020 NFO Close Date 23 rd April 2020 ...