The term tax refund refers to a reimbursement made to a taxpayer for any excess amount paid in taxes to the federal or state government. While taxpayers tend to look at a refund as a bonus or a stroke of luck, it often represents what is essentially an interest-free loan that the taxpayer made to the government. It’s often possible to avoid overpaying your taxes so you can keep more money in your pocket each paycheck—and avoid a refund when you file your tax return .
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To withdraw the EPF amount, the person must declare their unemployment. According to the new rule, the EPFO permits the withdrawal of 75% of the EPF savings after one month of unemployment. The remaining 25% can be transferred to a new EPF account once new employment is secured..
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Life insurance can be defined as a contract between an insurance policy holder and an insurance
company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death
of an insured person or after a set period.
A mediclaim policy is a sort of health insurance policy in which the insurer reimburses the
policyholder for medical expenses incurred in treating their medical condition. If you have a
medical insurance policy, you can submit your bills to the insurance company for payment.
: Unclaimed Redemptions or Unclaimed Dividends are those amounts that are processed and released by HSBC Mutual Fund (the Fund) but not encashed by/credited to the bank account of the unitholders..
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Physical Shares means, with respect to any person or entity, shares which are held either of record by such person or entity (or any fund or account to which such person or entity provides investment advice) or through a broker, dealer, agent, custodian or other nominee that is the holder of record of such shares..
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Central Government issues both, treasury bills and bonds or dated securities while the State Governments issue only bonds or dated securities, which are called the State Development Loans (SDLs). G-Secs carry practically no risk of default and, hence, are called risk-free gilt-edged instruments.
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Unclaimed deposits are quite common. People often do not share crucial financial information with their families, including details about their accounts and deposits. After their death, family members are unaware of the deceased‘ investments and financial information. Besides, many depositors fail to keep track of accounts and deposits for different reasons (job changes, multiple accounts, etc.). .
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Postal savings systems provide depositors who do not have access to banks a safe and convenient method to save money. Many nations have operated banking systems involving post offices to promote saving money among the poor
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