The understanding of income tax is one of the essential financial knowledge that every one of us should be familiar with, but people start taking a step towards knowing income tax only when it is necessary for them and some of you might as well have landed here for the same reason.
Mutual funds are an investment tool that pools the funds of different investors to make into a combined investment product. This fund is then used for investing in different assets so as to reach its investment goals. There are different types of mutual funds available in the market.
A credit card is basically a type of card that allows you to borrow money from financial institutions such as banks. In simple words, it allows you to take the same loans from the financial institutions quickly which you have to repay within the billing cycle that is usually within 50 days.
income tax is a tax levied on individuals or businesses based on their incomes or gains over a fiscal year. Earnings can be nominal and notations respectively. The rate of income tax and the income tax slabs on which individuals are charged are set by the Indian government.
SIP helps you in making small and regular investments in your chosen mutual fund scheme. When activated, a fixed sum of money is deducted from your account monthly to make investments in your preferred scheme.