NPCI stands for National Payments Corporation of India. It is the umbrella organisation that operates and supports several of India’s retail payment and settlement systems, including UPI, RuPay, IMPS and NACH. The Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) set up NPCI as an initiative under the Payment and Settlement Systems Act, 2007. NPCI operates as a …
The Indian Financial System Code, the full form of IFSC, is an 11-character alphanumeric code used to make electronic payments. This code is unique to all banks that you can find on all account documents, such as cheque leaves, passbooks, account statements, etc. Using this unique identifier, along with the account holder’s name and account …
Defaulting on loan payments is very serious as it can have a lasting impact on your finances. This is because consistent non-payment of a loan can lead to legal repercussions. Thankfully, there are a few borrower’s rights to help you navigate this situation. In such a situation it is critical to know the rights that all …
Getting quick credit card approval is all about maintaining a clean credit history and showcasing good repayment ability. Since a card gives you access to credit, it poses a risk to the credit card company. This is why your ability to repay and your past behaviour with credit is reviewed before approval. To know how …
As per the Income Tax Act, your income gets categorised into different heads, no matter the amount you earn. But ‘how many heads of income are there?’ is the question here.The IT Act clearly outlines five heads of income, which classify earnings based on their sources. All citizens liable to pay tax must abide by …
The taxable income slabs divide the taxpayers into different categories and assign them different tax rates. These categories depend on the age of the taxpayers, as mentioned below: These slabs also vary depending on the regime you opt for. By knowing these slabs and the applicable rates, you can plan your finances and taxes accordingly. …
Every taxpayer who is required to pay income tax or file an Income Tax Return (ITR) must comply with the applicable tax rules. After a return is filed, the Income Tax Department may process or examine the details to determine the correct income, deductions, tax liability or refund. This process is broadly known as income tax assessment. From 1 April 2026, the Income-tax Act, 2025 replaced the Income-tax Act, …
This article explains the gratuity exemption limit under Indian income tax law, who qualifies for full or partial exemption, and the exact formulas used to calculate gratuity tax for government employees, private employees and those not covered under the Gratuity Act. Gratuity is taxable only beyond a ₹20 lakh limit. Under Section 10(10) of the …
As a taxpayer, it is important to know the deadline for income tax filing to avoid penalties and interest that you need to pay on the fine. These dates can help you create and stick to a timeline and sort out your finances. Generally, the last date for filing your tax for the financial year …
A TDS check helps you confirm whether the tax deducted from your salary, interest income, rent, commission or other payments has been correctly deposited with the government. This is important before filing your Income Tax Return, as even a small mismatch can affect your refund or create a tax notice risk. Wondering how to check my TDS, how to check TDS online or how to …
