Professional Tax – Meaning, Slabs & Exemptions
If you go through all your payslips, you will notice the reduction with the name Professional Tax. The state you live in is responsible for...
Special Allowance – Taxation & Calculation
Special allowances emerge as pivotal components designed to cater to diverse needs within organizations. These designated sums of money...
ULIP – Meaning & Benefits
Unit Linked Insurance Plans (ULIP) represent a comprehensive financial instrument that seamlessly combines the advantages of both...
Public Provident Fund (PPF) – Features and Tax Benefits
Welcome to the world of financial planning and secure investments! Since its inception in 1968, the Public Provident Fund (PPF) has been a...
National Savings Certificate (NSC) – Eligibility, Interest Rate & Benefits
The National Savings Certificate (NSC) is a robust financial instrument initiated by the Government of India. This fixed-income investment,...
ELSS Funds – Features and Investment
Understanding the tax implications of your investment decisions is a critical aspect of financial planning. Overlooking the tax...
Senior Citizen Savings Scheme (SCSS) – Meaning, Features & Eligibility
In a great move, Budget 2023 has ushered in a transformative change for senior citizens in India by enhancing the maximum deposit limit in...
Wealth Creation – Meaning, Importance, and Tips
If we refer to the dictionary’s definition of wealth, it signifies abundance. In the context of money, it translates to having an...
Salary Breakup Structure – Format & Calculation
A salary breakup structure, also known as a CTC (cost-to-company) breakup structure, is a comprehensive breakdown of the various components...
Salary Increment Letter Format & Samples – Complete Guide
A salary increment letter formally requests the employer to raise your current salary. This letter should be concise and professional...
