A new safety measure to be introduced beginning new year on night withdrawals of Rs 10K & above
In order to further discourage cash transactions and move towards a less cash economy.
The Reserve Bank has increased withdrawal limit for depositors of City Co-operative Bank Ltd, Mumbai, to Rs 5,000.
PF withdrawal is taxable if service is not rendered continuously for at least five years
It will depend on the period for which the contribution to the scheme has been made
Liquid funds score on two counts in comparison to bank fixed deposits—tax efficiency and higher liquidity
If the penalty and the rate are mentioned in the deposit document, the bank is entitled to deduct the penalty