Used cash in hospitals, party halls? I-T dept will target you [ad_1] (This story originally appeared in on Aug 20, 2022) NEW DELHI: With an eye on detecting cash transactions, the income tax department has set its sights on hospitals (as several are not collecting PAN from patients), banquet halls and certain professionals. Besides, smaller towns such as Alwar, Kota ...

RBI’s net forward book shrinks $34.94 bn in first 3 months of FY23 The Reserve Bank of India’s outstanding net forward purchases of US dollars declined by a massive $18.33 billion in June as the central bank intervened in both the forwards and the spot market in order to protect the rupee from excessive depreciation in the face of ...

Travel now, pay later: Vacation loan demand up [ad_1] (This story originally appeared in on Aug 20, 2022) CHENNAI: Indians are thronging foreign destinations with a vengeance as most countries have opened up for tourists after pandemic-induced curbs. A combination of pent-up demand and financial stress means that many of them are opting to pay for their international vacation with ...

Digilocker : 6 reasons why Digilocker is a must for NPS subscribers [ad_1] As good as originals The Ministry of Electronics & IT (MeitY(Digital )’s India programme) main project is called DigiLocker. It is a digital empowerment tool that gives citizens access to real digital records. According to aPFRDA circular issued recently, “The issued documents in DigiLocker are treated at ...

MPC minutes suggest further repo rate hikes to tackle rising inflation The minutes of the monetary policy committee (MPC) deliberation for the August monetary policy review indicated more interest rate hikes in the coming months as the retail inflation remained elevated, even as panel members noted that it may have peaked. The six-member monetary policy committee of ...

I-T dept allows taxpayers more time to claim credit for taxes paid abroad The income tax department on Friday said taxpayers can claim credit for taxes paid outside India before the end of the assessment year if the I-T return is filed within the stipulated deadline. So far, Foreign Tax Credit (FTC) could have been claimed only ...

Foreign exchange reserves decline to $570 bn on back of decline in FCA The country’s foreign exchange reserves fell USD 2.238 billion to USD 570.74 billion in the week ended August 12, according to the Reserve Bank of India (RBI) data. In the previous week ended August 5, the foreign exchange reserves declined USD 897 million to ...

Property: Can a property transferred via gift deed be taken back by the giver? [ad_1] Usually, there are two ways to give away your property or other assets to loved ones – via a will or a gift deed. While the will comes into effect after your death, giving away property via gift deed happens during your lifetime. Can a ...

Sebi urges intermediaries to join accounts aggregator framework The Securities and Exchange Board of India (Sebi) has directed stock market intermediaries such as asset management companies (AMCs) and depositories to join the account aggregator framework introduced by the Reserve Bank of India (RBI). The market regulator also set rules that will specifically be applicable to players in ...

Rent Agreement: Why rent agreements are mostly made for 11 months only? [ad_1] To live on rent tenants have to enter into a rent agreement with the landlord for a specified time. The most common period used by a good number of landlords is typically 11 months. Have you ever wondered why such rent agreements are for 11 months only? ...