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UPI Lite Transaction Limit Increased to ₹1,000; Wallet Limit Raised to ₹5,000

Synopsis: RBI Hikes UPI Lite Transaction Limit to ₹1,000, Wallet Cap to ₹5,000; UPI 123PAY Limit Raised to ₹10,000 The Reserve Bank of India has increased UPI lite transaction limit to ₹1,000 and wallet limit to ₹5,000. Additionally, UPI 123PAY limit is now ₹10,000. These steps aim to promote digital payment inclusivity. RBI Increases Limits for UPI Lite...

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Income Tax Rules for Savings Account Transactions in India

Cash Transactions in Savings Accounts: What You Need to Know Understanding income tax rules for cash deposits and withdrawals in savings accounts is crucial. These regulations ensure transparency and discourage financial fraud. Cash Deposit Limits in Savings Accounts The Income Tax Department has strict guidelines on cash deposits: Account Type Threshold Limit Reporting Authority Savings...

Senior Citizens to Save More! Tax Deduction on Interest Income Doubled to ₹1 Lakh

Senior Citizens Rejoice! Tax Deduction on Interest Income Doubled The Budget 2025-26 brings great news for senior citizens! Finance Minister Nirmala Sitharaman has announced a major relief by increasing the tax deduction limit on interest income from ₹50,000 to ₹1 lakh. Increased Tax Deduction Limit Senior citizens can now enjoy higher tax benefits on interest…

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Income Tax Deductions List – Deductions on Section 80C, 80CCC, 80CCD & 80D – FY 2023-24 (AY 2024-25)

1. Section 80C – Deductions on Investments Section 80C allows individuals and Hindu Undivided Families (HUFs) to reduce their taxable income by making specific investments or incurring eligible expenses. The maximum deduction under this section is ₹1,50,000 per annum. Eligible investments and expenses include: 2. Section 80CCC – Deduction for Pension Funds This section provides…

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RBI’s New CIBIL Rules: Shocking Changes You Must Know for Easy Loan Approvals!

Maintaining a good CIBIL score is now easier! The Reserve Bank of India (RBI) has introduced new rules from January 1, 2025, that make the credit process more transparent and consumer-friendly. These changes ensure faster updates, better notifications, and quicker complaint resolutions. Key Changes in RBI’s CIBIL Rules 1. CIBIL Score Updates Every 15 Days…

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