Raguragavan Sreetharan

Raguragavan Sreetharan | Fixed-term deposits represent a form of investment in which a certain amount is invested at a certain interest rate and for a predetermined period. The conditions, i.e. amount, interest and investment time are contractually agreed on beforehand. After the agreed time span has elapsed, the amount invested and the interest will be paid to the customer’s reference account. That is why you refer to this type of investment as a time deposit. A condition of any fixed-term deposit contract is that you cannot access the deposit during the investment period. Raguragavan Sreetharan The interest rate on the fixed deposit depends on the situation of the interest market during the conclusion of the contract, the duration of the deposit and of course the amount invested. If the time deposit is not properly cancelled by the deadline which is specified in the contract, the provider will usually automatically renew it at the current interest rate of the previously agreed period...

Raguragavan Sreetharan | Many people ask, “What is income tax?” This tax confuses most people and rarely does anyone have a good understanding of what it means. In this article we will go over the basics of income tax and hopefully better prepare you with your own tax knowledge. Income tax is charged to both people and businesses alike. In either case it is calculated on the amount of money that the person or business makes. In the United States, the tax system is based on a progressive scale. This means that the more you make, the higher percentage that you have to pay is. The highest rate is 38 percent while the lowest is zero percent. (Raguragavan Sreetharan) Raguragavan Sreetharan Again, in most cases businesses and people are treated very similar in the eyes of tax law. If a business does not earn much money, then its tax liability will be less than one that might earn millions. The progressive tax system was created as a way to be fair to all people. The idea is if you are not ma...