Good News for all income taxpayers of Indian. Now, they can reduce additional 50 Thousand INR on taxable income by investing in the National Pension System (NPS) for the financial year 2015-2016. This may result in the tax saving of around 15 thousand INR, which is not a small amount. Add another 15K and you can have a foreign trip.
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Recently one of my readers asked me that he wants to invest some money on NRE fixed deposits but confused on whether to go for foreign banks like Citibank, DBS, Standard Chartered, Deutsche Bank or Indian banks like ICICI, Kotak, HDFC, SBI, Axis Bank or Union Bank? I asked him, whether he has any existing NRE saving account , he says he doesn't have any existing NRE saving account? Then I ask him what is more important for you? the interest rate or convenience? and his answer was the interest rate. Read more »
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