The Bhagyalakshmi scheme in Karnataka aims to ensure a steady growth in the number of girl children in the state. This program intends to provide financial help to the families of girl children through their parents. In India, raising a girl child can lead to significant concerns among economically poor families due to the cost of living and other social barriers. This is an initiative to foster gender equality by promoting the births of female children and their healthy upbringing.Bhagyalakshmi Scheme for Girl Child in KarnatakaThe Karnataka government introduced the Bhagyalakshmi Yojana or scheme as a strategy to increase the population of girl children in the state, especially among below-poverty line (BPL) families. In rural India, there are some major financial concerns associated with the births of girl children among BPL families. This scheme has mainly the following objectives to mitigate the concerns:To provide financial assistance to families below-poverty line so that they can ensure a comfortable life for their girl children. Encourage families belonging to the BPL category to raise girl children while improving their social and financial conditions.Improving the social status of financially weaker families. How to Apply for Bhagyalakshmi Scheme in Karnataka?Here are some steps to follow to apply for Bhagyalakshmi Yojna if you are below-poverty line and have a girl child:Visit the official website of Bhagyalakshmi Yojana Karnataka (http://blakshmi.kar.nic.in:8080/First.jsp) or visit Gram Panchayat office/ Anganwadi Center/ NGOs/Authorised banks/Municipal Corporations. Download the form from the website or collect it physically from one of the mentioned sources.Fill out the form, including the date of birth and details of the parents. Attach or upload the required documents based on your mode of application. Submit the form to the concerned person, i.e.

Tax Collected at Source (TCS) is a system where a seller of certain goods collects taxes from the buyer. Now, if the buyer is not liable to pay any taxes and wishes to inform the seller about the non-deduction of taxes, he/she can submit Form 27C of the Income Tax Act. In this case, the list of specific goods includes timber, scrap materials, tendu leaves, etc.Keep reading to learn how to file Form 27C, its applicability, the documents required and more.  What is Form 27C of the Income Tax Act?As per the Income Tax Act, Form 27C is a declaration form for non-deduction of Tax Collected at Source (TCS) by the buyer of goods to its seller. Rules state that the seller of goods needs to collect taxes from the buyer. However, if the buyer is not liable to pay TCS, he/she can file Form 27C. However, he/she needs to be an Indian resident and use all goods purchased to manufacture, produce or process articles or goods.

Are you tired of getting stuck in the middle of an online transaction due to poor internet connectivity? Well, now you can simply use a USSD number and complete your transaction without an internet connection. You may effortlessly transfer and request money, change your UPI PIN, and check the amount of your account with this mobile banking service. To take advantage of these services anytime and anywhere, dial *99# on your mobile phone.Read on to understand more about how this offline UPI payment works and how you can set up transactions with this method.What is the Offline UPI Payment Number?By using *99#, you can get access to UPI without the internet. The service is available nationwide, with the association of 83 leading banks and four telecom service providers. You can even choose the language you are comfortable with while using this service, as it is available in 13 different languages, including English and Hindi. National Payments Corporation of India (NPCI) started the service of *99# to process transactions of UPI across several banks in India. All you need to do is dial the USSD number on your registered mobile number, and you can transact the money with the help of an interactive menu available on the mobile screen. Presently, the upper limit of such transactions is Rs.5,000.

Purchasing a car or bike is a huge investment in your life. But at the same time, you have to understand that with time the car ages and its value depreciates. As soon as you bring your vehicle out of the showroom, the value depreciates by 5% and gradually keeps on falling with each passing year. This depreciation amount is generally considered when you buy or claim insurance for your car or bike.Therefore, in this article, we will be guiding you in detail on how depreciation on your car or bike is calculated, as well as provide some examples. Depreciation Rate For Cars And BikesWhen you buy a car or bike, its value diminishes slowly with time due to natural wear and tear. This phenomenon is known as depreciation.

Companies often provide bonuses to their employees to appraise their performance in a financial year. This is because your performance helps in increasing the profitability of the company. However, you need to pay an income tax on the bonus depending on the amount of bonus earned.Now you may ask why you need to pay tax against your additional income. So, this article will answer your doubts regarding the taxability of bonuses.When is the Bonus Taxed?The bonus that you receive from your employer is considered as Income under the head Salary, and tax on such bonus is applicable for the same financial year when your employer declares it. Even if you receive the amount in the next year, you are liable to pay the tax for the financial year it has been declared.  Let’s assume your employer declares an employee bonus of Rs 25,000 on March 15, 2025.

People worldwide were waiting for the changes introduced on Twitter after Elon Musk acquired the social media platform in October 2022. The business magnate and investor changed Twitter’s legal name in April 2023. Now, this famous social media platform is officially known as X Corp. Soon after, Musk made a business decision to share ad revenues with content creators who are active on the rebranded platform. The payment of ad revenues depends on the engagement that creators generate. Read on to know how the income earned by Indian users from X will be taxed. How Content Creators Earnings from Twitter Will Be Taxed? Let’s explore how the content creators will earn from X in detail. Musk has recently announced that people who have subscribed to X Premium (blue) are entitled to receive the company’s share.

Whether you are changing city and are planning to buy a second home in the new city through a loan? Then you should not miss this article while planning to borrow a home loan for your second home, where you will get a clear idea of the tax benefits of a second home loan. According to Section 80C and Section 24 of the Income Tax Act, you can avail of tax benefits on home loan repayments. However, if you are planning to rent one of the properties, there can be some differences in tax benefit rules. Read on for a detailed overview of the tax deduction rules on a second home loan.Interest Deduction on Home Loan under New RegimeIf you are opting for a new tax regime and also getting a second home loan where you are purchasing it to keep it for self-occupation, then no benefit will be available to you under Section 24(b) for interest deduction or for principal repayment u/s 80C. However, no restriction for interest deduction u/s 24(b) will be applicable in case you are purchasing a property as an investment for letting it out. But deduction under section 80C is not available. Tax Benefit on a Second Home LoanIf you are applying for a home loan to purchase a new home, you must know the ways to avail tax benefits on the second home loan. Under Section 80C of the Income Tax Act, borrowers can avail tax deductions on the principal amount. Whereas under Section 24(b) you can claim the interest expenses on your home loan as a deduction. Taxation rules for a second home loan depend on the purpose of your purchase.

Ever tried to bargain over what you want to buy? Quoting a high price, slightly coming down, gauging how much you can reduce the price, comparing it with the market price, then finally landing at a slightly lower price than offered in the market.Unknowingly, you have negotiated a deal, with a fair-market assessment, analyzed its dynamics, and leveraged it to your advantage. Fair Market Value, as its name suggests, is determined fairly by the consensus of both buyers and sellers in the market. Learn more about its meaning, calculation procedure, valuation methods and examples.What is Fair Market Value?Fair Value or refers to the price set for selling or purchasing an asset in the open market. Financial institutions like NBFCs and Government organizations use Fair Value while assessing the valuation of collateralized or taxed assets.Several conditions need to be fulfilled to determine an asset's Fair Value. Buyers and sellers must have full knowledge of an asset before participating in a transaction. Their decision should not be influenced by time or any other external factors.

Capital gains earned from the sale or transfer of capital assets are subject to taxation. This is because it falls under the category of one’s income. Examples of capital assets include residential and commercial properties, vehicles, jewellery and mutual funds. Capital gains are the net profit that a person earns after selling off a capital asset. This blog will focus on Section 48 of the Income Tax Act (ITA), which provides the guidelines for computing taxable income which falls under the head of capital gains after considering certain deductions. What Is Section 48 Of Income Tax Act? Section 48 of the Income Tax Act (ITA) states that the income chargeable as “capital gains” must be calculated after deducting specified amounts from the returns one has received after selling off a capital asset. Deduction Under Section 48 Of Income Tax Act The following amounts that a person has received or accrued as a result of the sale or transfer of capital assets are considered for deduction: Expenditure that has been incurred wholly & exclusively in connection with the transfer of capital assets.Cost of acquiring capital asset and expenses related to improving it thereafterProviso Under Section 48 You need to keep in mind an important factor. The first provision of Section 48 of ITA only applies to Non-Resident Indians (NRIs).This provision applies when a non-resident taxpayer earns capital gains from the transfer of shares or debentures of an Indian company.

The State Bank of India has launched hassle-free digital banking facilities for quick and convenient operations for various functions. The SBI balance check facility allows you to get the latest update about your account balance promptly without visiting the bank branch. You can check your SBI account balance instantly using various methods like missed call, SMS, WhatsApp, UPI, ATM, or mobile apps. Additionally, SBI’s IVR facility allows customers to check balances by calling the SBI toll free number for balance check.Different Methods Of SBI Balance Enquiry in 2025If you are an SBI bank account holder and want to know how to check your SBI balance instantly, you can do so through the following methods:Missed Call Facility - 919223766666SMS Service - SMS ' ‘BAL’ to 919223766666ATMNet BankingMobile BankingSBI Whatsapp BankingSBI passbookCalling the toll-free number - 1800 1234, 1800 2100, 1800 425 3800UPIUSSDCheck SBI Account Balance Through Missed Call FacilityWith this new feature, you can get your account balance, mini statement and so on by just giving a missed call. You can check your SBI account balance instantly by giving a missed call to the SBI balance check number 09223766666 from your registered mobile number. This service is completely free and gives you your latest account balance via SMS.Here is the step-by-step guide:Step 1: To use this service, first, you must register your mobile number by sending the following SMS                                                 REG<space>Account Number                                                               to 09223488888For instance, REG 2349084781.