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What is Form 26 AS?

Wednesday, September 19, 2018, 4:58 PM

Form 26AS, also called as Annual Statement, is a consolidated tax statement which has all tax related information (TDS, TCS, Refund etc) associated with a PAN. It shows how much of your tax has been received by the government and is consolidated from multiple-sources like your salary/ pension /interest income etc. This form contains the annual tax-statement under Section-203AA and Rule 31AB.
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What Is Form 16?

Wednesday, September 19, 2018, 4:35 PM

Form-16 is the TDS certificate that an employer issue to you when TDS is deducted by them. When an employer deducts TDS on salaries, the income tax act requires that a certificate must be issued by the employer, where the details of tax deducted and deposited is certified.
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What is Marginal Cost of funds based Lending rate?

Wednesday, September 19, 2018, 4:07 PM

MCLR is closely linked with the repo rate and the cost of funds of a bank. It is the minimum interest rate that a bank can charge on Home Loans. Banks add a small percentage of spread to the MCLR and the resultant figure is the rate of interest charged on Home Loans.

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