Understanding Form 15G/H & Submitting Form Online

If your FDs in a particular bank are earning interests exceeding Rs 10000/- in a year, that bank will cut TDS(Tax deducted at source) @ 10% on the interest amount. Now if your total income is below 2 Lakhs (basic exemption limit currently), you are not liable to pay any taxes and hence you need to tell the bank not to cut TDS on FD interest. Form 15G/H is the way to tell this to your bank. If you submit form 15G/15H, then the bank will not deduct TDS and the entire interest income is given to you when the FD matures.

Voluntary Contribution to EPF - A good tax saving tool

It is a common knowledge that a salaried employee has to contribute 12% of his basic salary towards EPF. But do you know that you can opt to contribute more than the mandatory 12% ? I did not know this until recently and when I researched about it, I found it to be a good tax saving tool for risk-averse-me. Lets discuss the details.

Voluntary Provident Fund (VPF), as it is called, is the voluntary contribution of the employee to EPF beyond the mandatory 12%. The maximum amount an employee can contribute is 100% of his basic. This extra contribution from the employee gets deposited in his existing EPF account and hence earns the same interest as normal EPF contribution.

Is your company depositing your EPF every month? Find it out online

While reading on net I came to know that there have been some cases where the employer has deducted the EPF (Provident Fund / PF) money from employee's salary and then did not deposit that money to EPFO.

If you want to be sure that your EPF contribution has been deposited to EPFO (Employee Provident Fund Office), here are some of the ways to check it online -

Final electoral rolls of Karnataka for 2014 election

The latest and final electoral rolls of Karnataka for 2014 loksabha election are now available on ceokarnataka website. The revised rolls have been published on Mar 26. This was the final revision of rolls. Now there will be no further revisions in the electoral rolls till the elections.

Please ensure that your name in included in the voter lists at the CEO Karnataka Website .

How to Search Your Name in Voter List (Karnataka)

The Chief Electoral Officer of Karnataka has published the latest electoral rolls for 2014 loksabha election on Jan 31, 2014. Please ensure that your name in included in the voter lists at the CEO Karnataka Website . If your name is not in the voter list, then you cannot vote, even if you have a voter id card !!. On the other hand, if your name is in the voter list but you don't have a voter id card, you can still vote with any govt issued photo card (Driving license, passport, Aadhar card , ration card etc) to identify yourself. (The list published on Jan 31 is not final though and there will be further revisions before the elections and CEO Karnataka Website will be updated accordingly).

Online Voter Registration in Bangalore - My Experiences

My Experience - 1

Sometime in 2012 there started a flurry of facebook posts on online voter registration for the upcoming 2013 Karnataka assembly elections. A number of organizations and volunteers (like BPAC and smartvote) were working sincerely to encourage the citizens to register their names on the rolls. It was then that I decided to register myself too.

Interest rate on EPF deposits for year 2013-14

EPFO has proposed to raise the interest rate on EPF deposits to 8.75% for the financial year 2013-14. The interest rate in the previous financial year was 8.5%. This proposal was made on January 13, 2014 (related news).

However please note that this proposal has to be approved by the finance ministry. Only after their approval, the interest is credited into the accounts of subscribers. The final decision on interest rate by finance ministry should come by April/May.

How much is the employer's contribution in EPF ?

Until recently, I was under the impression that employer's contribution to EPF is equal to the employee's contribution. That's what most of us think, right? But its not true in every case. It depends on the employee's basic salary and the company's policy on EPF. I have summarized here the different cases and options -

Case 1 : Employee salary (basic + DA) less than 6500 It is mandatory for the employer (and employee) to contribute 12% of salary to EPF.

Case 2 : Employee salary (basic + DA) greater than 6500 Company can decide to choose from one of the following options depending upon their company policy on EPF

Track EPF account online with E-Passbook

Having heard recently of e-Passbook facility of EPF, I decided to track my EPF account online. For those who don't know - e-Passbook has all the EPF transactions recorded month-wise and date-wise to make it easier to track our own EPF account. These transactions include the following - (a) Employer contribution deposited by employer to EPFO (b) Employee Contribution deposited by employer to EPFO and (c) The interest earned annually on the total EPF amount. (The interest gets credited to EPF account at the end of financial year i.e., 31st March)

Income Tax Refund Received Within 2 Months !!

Today I got a message from my bank that 7K Rs have been deposited to my account. It looked like the depositor was IT Department as the message bore the language "AY2013-14". So I quickly checked my account statement and my ITRV to match the refund amount. And YES!! I had got my tax refund money that too with interest (although minuscule). I was delighted at the fast-like-a-flash response of our IT Dept.


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