On Saturday, the government announced the exemption of compound interest on specific loans for a period of six months. Tax experts are not very happy with the plan. They believe that this scheme is useless as the net savings for a taxpayer are too small. The plan is called “Plan …
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In light of the extreme and unprecedented situation of COVID-19, the government announced significant relief for borrowers and individual MSMEs by waiving compound interest on specific loans for a period of six months. Loans eligible under the scheme include MSME loans, education loans, home loans, consumer durables loans, credit card …
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The government has announced guidelines for the exemption from compound interest, which was payable by borrowers who had opted for a moratorium on their equivalent monthly payments (EMI) for a period of six months between March and August 2020. This will eliminate the interest-on-interest burden for all micro, small and …
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