विदेशों में बहुमूल्य धातुओं की कीमतों में तेजी का रुख देखते हुए सटोरियों ने अपने सौदों के आकार को बढ़ाया जिससे वायदा कारोबार में बुधवार को सोने का भाव 186 रुपये की तेजी के साथ 27,165 रुपये प्रति 10 ग्राम हो गया. वहीं चांदी की कीमत भी 248 रुपये की तेजी के साथ 37,520 रुपये प्रति किलोग्राम हो गई.

एमसीएक्स में सोने के दिसंबर डिलीवरी वाले अनुबंध के भाव 186 रुपये अथवा 0.69 प्रतिशत की तेजी के साथ 27,165 रुपये प्रति 10 ग्राम हो गए जिसमें 836 लॉट के लिए कारोबार हुआ. एमसीएक्स में चांदी के दिसंबर डिलीवरी वाले अनुबंध की कीमत 248 रुपये या 0.67 प्रतिशत की तेजी के साथ 37,520 रुपये प्रति किलो ग्राम हो गई जिसमें 827 लॉट के लिए कारोबार हुआ.

बाजार विश्लेषकों ने कहा कि निवेशकों को अमेरिकी फेडरल रिजर्व द्वारा इस वर्ष ब्याज दर में वृद्धि की कमजोर संभावना दिखाई दे रही है और इसकी वजह से मजबूत वैश्विक रुख को देखते हुए सटोरियों ने अपने सौदों के आकार को बढ़ाया जिससे वायदा कारोबार में सोने-चांदी की कीमतों में तेजी आई.

The Income Tax Calculator is quite popular among those who are employed and liable to pay taxes. It is also popularly known as Tax Calculator. Such Income Tax Calculators are used by major tax filing portals, personal finance companies. InvestmentYogi provides a very simple calculator for calculating the individual tax liability for the particular assessment year.

Why should you use this calculator?
If you want to know how much tax you would have to pay for the income generated in the year, this calculator is the one for you.

How to use this calculator?
The entries to make are:

Assessment Year – Choose the assessment year for which you want to know the tax liability. Ex: AY 2014-15, AY 2013-14, etc. AY 2014-15 is also known as FY 2013-14.

Income of Individual as – Choose under what status you are filing the taxes i.e. male, female or senior citizen. Tax slabs are different for few categories depending on year of assessment.

Gross Salary – It is the total salary including bonus, perquisites, compensation, etc.

Section 10 Exemptions – There are a lot of exemptions available for the employees depending on the company such as HRA, LTA, Medical, Petrol, Telephone, etc. The total of these exemptions needs to be entered here.

Section 16 Deductions – Section 16 allows a deduction for professional tax /tax on employment, entertainment. The total of such deductions for the year can be entered here.

Other Sources Income – Enter the other sources of income such as family pension, interest income from FD’s and other investments.

Chapter VIA Deductions – Deductions from Section 80C – 80U such as PF, Insurance premium, Donations, etc. Remember that each section has its own limit, like 80C limit is 1 lakh.

Once you enter these values and click on calculate, the result would be stating the total tax liability including education cess and surcharge (if applicable).

When should you use this Calculator?
This calculator is to be used when you are unsure of your tax liability or want to recheck the tax liability for the assessment year concerned.

Can it be used in any other situation?
This is specifically used when looking for calculating the income tax to be paid or being paid. It is also useful when there is a refund involved and you are eager to know how much it would be.

Many of us invest in fixed deposits (FDs) as they are safest investment option available today. But most of the time while investing, we don't spend too much time on thinking where to park our FDs. However, the fact is we can save quite an amount if we carefully select our fixed deposit option.

In order to maximise returns, while it is useful to get high interest rates, it is also a good idea to minimise the cost of unplanned FD closure. Often, when we are need of funds, we tend towards breaking the fixed deposit. As a result we not only we lose on interest rates, but are also penalised as much as 1 per cent in the name of premature withdrawal penalty.

While this may seem a small number, it becomes sizeable when actual cost is calculated. Most banks calculate interest rates for premature closure of FDs by the following formula:

Interest Rates for Premature withdrawal of FDs = Interest Rate applicable for actual period of FD as per the rates prevalent at the time of investment - 1 per cent

Most of the banks charge premature withdrawal penalty as per the above formula for all fixed deposits, including linked FDs with sweep in facility and FDs with periodic interest payouts.

In case of FDs with periodic interest payouts, where banks have already paid the investor interest as per the committed rates, banks calculate the applicable penalty at the time of redemption, and reduce the final payout by the same effectively reducing the interest rate to the rate as per the above formula.

However, the premature withdrawal penalty can be completely avoided as several banks have started offering premature withdrawal without penalty. In fact, you will be surprised to know that some of them also offer the best interest rates on FD's. The following table lists interest rates offered on FDs and premature withdrawal penalties levied by major banks:



The above comparative shows that Axis Bank, Yes Bank and IDBI Bank offer high interest rates and also allow premature withdrawal without penalty.

On the other hand, major retail banks like ICICI Bank and HDFC Bank offer lower interest rates and charge hefty premature closure penalties.

Let us take an example where Ajay has invested Rs. 3 lakh each in Axis Bank and HDFC Bank for a period of 3 years but withdraws the money in 1 year. The following is the return Ajay gets from both FDs:



While both the FDs are offering same returns for 3 year period and the interest rate applicable for 1 year is also same in both the cases, Ajay loses out Rs. 3,479 only due to penalty in case of HDFC Bank.

One might think about the case where FD rates are lower for the actual deposit period than the original period; and the case where FD rates at the time of booking were higher than rates prevailing at the time of FD closure. In such cases, banks take the lower of the two rates to pay interest.

So, next time when you book your FD, do not forget to check the premature withdrawal penalty along with interest rates, else you may land up losing out on easy money

Extending its rising streak for the fourth straight day, the rupee appreciated by 51 paise to trade at nearly four-month high of 60.90 against the dollar in early tradeMonday on sales of the US currency by banks and exporters and sustained foreign capital inflows.

The BSE Sensex surged as much as 487 points to a record high of 21,483.74, while the 50-share Nifty benchmark edged past the key 6,400 levels on Monday as investors cheered a four-zero victory for the Bharatiya Janata Party in the state polls.

The BJP is perceived by many investors as being more business-friendly, and it's good showing in assembly elections raised optimism about its chances ahead of general elections due by May next year.

"The BJP is considered more right-of-center, pro-business and reform-oriented," Nomura said in a note to clients.

"The fact that runaway spending by the ruling party has not won any votes could be taken as a very positive signal by the markets in terms of voter preference for the kind of policy favoured by the electorate."



The Sensex bettered its previous record high of 21,321.53 hit on November 3, 2013, while the Nifty surged past its previous all-time high of 6,357 hit in January, 2008. The rupee hit nearly 4-month high of 60.84 against Friday's close of 61.41.

The BJP cruised to landslide wins in Madhya Pradesh and Rajasthan, won a majority in Chhattisgarh and emerged as the single largest party in Delhi.

Market analyst Sarvendra Srivastava told NDTV that a game changing session is on the cards and a breakout has happened in the expected direction.

Madhav Dhar, managing partner of GTI Capital told NDTV that this verdict is more of a vote against the ruling Congress Party. The results are an affirmation that we had unsustainable policies and a lot of cynics about India will pause and say wow things will change, he said.

"The economy will be on a 7 per cent growth trajectory, inflation will be below 7 per cent and corporate profits will rise. Markets will be substantially higher that what it is today," Mr Dhar added.

However, foreign brokerages were a little subdued in their outlook. Macquarie said the positives from state elections are somewhat factored in the markets.

Analysts also warned that a BJP victory next year is far from guaranteed and the market rally could be capped by worries about an economy expected to grow below even the decade low of 5 per cent hit in the previous fiscal year.

The Federal Reserve could also move soon to end its massive stimulus after signs of an improving US economy. Only a few months ago India was badly roiled by fears of an early end to the Fed tapering, ushering the worst market crisis since the balance of payments turmoil two decades ago.

Although India is seen as being in a stronger position after its current account deficit has narrowed to a more than four-year low, the prospect of foreign selling is a concern.

Foreign investors have bought Rs. 1 trillion so far this year in shares, making these capital flows vital for India's current account balance.

Furthermore, high inflation has forced the Reserve Bank of India to raise interest rates by half a percentage point over the previous two months. A continued spike in consumer prices in data due out on Friday could bolster views the central bank will again tighten monetary policy again this month.

"There should not be such excitement around new high. It is not understandable in context of growth and valuations." Sanjeev Prasad, executive director and co-head of Kotak Institutional Equities in Singapore.

As of 12.45 p.m., the Sensex traded up 315 points at 21,312, while the Nifty traded 97 points higher at 6,357.

On the Nifty, 41 of the 50 shares traded in the green, but banking and industrial stocks were the biggest gainers. The Bank Nifty rose as much as 4.3 per cent. ICICI Bank was among the top Nifty gainers, up 4.8 per cent. Engineering and construction major L&T traded with 4.65 per cent gains.

The rupee rose to a five-week high against the dollar as the foreign exchange markets moved in line with sentiment in the equity markets after exit polls forecast a strong performance by the BJP.

The domestic currency touched a high of 61.52 against the dollar before closing at 61.75, up 29 paise from its previous close of 62.06 against the dollar.

What is also boosting the rupee is the $34 billion mobilized by RBI by swapping dollars raised by banks through non-resident deposits and ECBs. The dollar mop-up by RBI is expected to increase the foreign exchange reserves by $18-19 billion, according to Yes Bank.

Snapping two days of losses, gold prices rose by Rs 450 to Rs 31,250 per ten gram in the national capital today on emergence of buying by stockists at existing lower levels for the ongoing marriage season amid a strong global trend.
Silver, however, fell for the third straight session by losing Rs 200 to Rs 43,800 per kg on lack of buying support from coin makers and industrial units.
Traders said emergence of buying by stockists at existing lower levels for the ongoing wedding season amid a strong global trend mainly helped gold prices to bounce back.
Gold in New York, which normally sets price trend on the domestic front, rose by USD 19, or 1.55 per cent, to USD 1,243.30 an ounce last night.
On the domestic front, gold of 99.9 and 99.5 per cent purity bounced back by Rs 450 each to Rs 31,250 and Rs 31,050 per ten gram, respectively, after losing Rs 725 in last two sessions. Sovereign also rose by Rs 100 to Rs 25,200 per piece of eight gram.
On the other hand, silver fell further by Rs 200 to Rs 43,800 per kg while weekly-based delivery spurted by Rs 1,370 to Rs 44,300 per kg on speculative buying. The metal had lost Rs 1,075 in last two days.
Silver coins dropped by Rs 1,000 to Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces.