Douglas says that no one can be considered as possessing a regular income
. One of the richest land-owners might possibly accumulate, in a long industrious life, as much as 1000 pounds sterling; but should this happen, it would all be stowed away in some secret corner, for it is the custom of almost every family to have a jar or treasure-chest buried in the ground.
Giving break up, the report said that the Defence Saving Certificates (DSC) receipts increased from Rs8.3 billion in FY18 to Rs44.6 billion in FY2019, showing an increase of Rs36.3 billion, the Special Savings Certificates (SSC) receipts increased from minus Rs38.5 billion to Rs33.1 billion, showing growth of Rs71.6 billion whereas the Regular Income
Certificates (RIC) increased from Rs1.9 billion to Rs102.9 billion, a growth of Rs100.9 billion.
The tax payers were maintaining their documentations and being regular income
tax filers must be given extra relief in the budget, he added.
The Government has given the green light for a new pension scheme that pays out a regular income
from a collective fund, rather than savers producing individual pots.
The return on Regular Income
Certificates was increased to 12pc of total investment compared to existing rate of 9.72pc that has improved from 7.63pc since June 30.
Defense Savings Certificates jumped by 0.75 per cent, with the new rate at 9.05 per cent, while Regular Income
Certificates rose by 0.74 per cent to reach 8.78 per cent.
Customers make contributions to the plan during their working lives and then receive regular income
The current profit rates are 10.8 percent on pensioners and behbud certificate, 76.6 percent on national saving scheme, 8.10 percent on defence saving certificate and 7.63 percent on regular income
Certain construction contractors may be eligible to use the cash or completed-contract method of accounting for regular income
I was torn between handicap debutants Gift Of Hera and Regular Income
, but came down on the side of the latter, mainly because Gift Of Hera could be a lot shorter than the forecast 16-1.
The first and only UITF of its kind in the local industry, the MUPF is designed as an investment that not only provides potentially better returns but also pays out regular income
on a quarterly basis.