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Life Insurance Myths

Life Insurance Myths

Life Insurance Myths A life insurance policy is a deal between an individual and an insurance company under which the insurer provides financial protection to the policyholder in exchange for monthly payments (known as premiums). According to the definition of life insurance, the insurer (insurance company) pays an amount assured to the policyholder or named …

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Infrastructure Bonds

Infrastructure Bonds – Know All About It

Infrastructure Bonds – Know All About It A bond is a financial product that allows you to borrow money. Governments and businesses both require funding for projects and expansion. Infrastructure bonds are debt instruments that are used to support government-sponsored infrastructure projects in a given country. Governments or government-approved infrastructure companies or non-banking financial companies …

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State Bank of India

State Bank of India

Introduction about the State Bank of India State Bank of India is the Indian Multinational Public Sector Bank and the Financial Services statutory.  It has its headquarters in Mumbai. It is ranked as the 43rd largest bank in the world and also as the 221st in the Fortune Global 500 list of the world’s biggest …

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Mutual Fund

Evolution of Mutual Funds, all beginning from 1963

What are Mutual Funds? Mutual Funds are portfolios involving different kinds of securities like stocks, bonds and other short-term debt. The portfolio manager analyses the risk and return of various securities and decides on how the investment is to be made. It helps small and individual investors to have access to diversified, professionally managed portfolios …

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Banking in India

Evolution of Banking in India

Banking in India The banking system in India is mainly classified into scheduled and non-scheduled banks.  Scheduled banks are those banks included under the 2nd Schedule of the Reserve Bank of India Act, 1934. The scheduled banks are again classified into various banks including State Bank of India and its associates, nationalized banks, foreign banks, …

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Section 80D

Section 80D

Deductions under Section 80D can be claimed in respect of medical insurance premiums.  This is different in the case of Individuals and Hindu Undivided Families. Section 80D deductions in case of an Individual Deduction in respect of insurance premium paid for family A deduction to the extent of Rs. 25,000 is allowed in respect of …

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House Property deductions under Section 24B

House Property deductions under Section 24B of the Income Tax Act

What is a House Property? A house property means a building or buildings with lands connected thereto.  It includes any superstructure that is capable of getting occupied, and the building must be the most prominent part of the said property comprising of land and building. A house property under the Income Tax Act includes flats, …

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