Rupee hits near 2-month high on dollar inflows, RBI may have stepped in By Nimesh Vora MUMBAI (Reuters) – The Indian rupee climbed to a near two-month high versus the U.S. currency on Monday on the back of dollar offers by foreign banks, traders said. The rupee was at 81.8175 to the dollar by 11:16 IST, up ...

How to minimise capital gains tax on property, equity and MFs During Budget 2023, Finance Minister Nirmala Sitharaman set a ceiling of Rs 10 crore for the long-term capital gain tax deduction for reinvestment in residential properties under Sections 54 and 54F of the Income Tax Act.  Earlier, there was no maximum limit. The new limit became applicable from April ...

Centre to soon notify rules for setting up GST appellate tribunals The Centre will soon notify rules for setting up GST appellate tribunals and appoint members after approval from the GST Council, a senior CBIC official said on Monday. Central Board of Indirect Taxes and Customs (CBIC) member (GST) Shashank Priya said the department is working to expand ...

How will changes in TCS regime affect international credit card holders? Backtracking from its earlier announcement, the Centre, on June 28, decided to defer the decision to include international credit card spending under the Liberalised Remittance Scheme (LRS). According to an announcement by the finance ministry, there will be no change in the rate of Tax Collected at Source ...

76% of Rs 2,000 banknotes returned to banks since May 19; 87% as deposits Almost 76 per cent of Rs 2,000 banknotes in circulation as on May 19 have been returned to the banks, the Reserve Bank of India (RBI) said in a statement on Monday. As on May 19, the total value of Rs 2,000 notes in ...

IIFL Finance raised $175 million in June from HSBC, Union Bank and BoB IIFL Finance on Monday announced that it raised $175 million in June through external commercial borrowing (ECB) from HSBC Bank, Union Bank (Sydney), and Bank of Baroda. With a borrowing of $100 million in March, the total borrowing in 2023-24 (FY24) so far has reached $275 million. ...

Covid-19, Ukraine war led to data gaps in 2022: RBI dy governor Patra The pandemic and the Ukraine war led to disruptions that last year caused gaps in data availability and errors, said Michael D Patra, deputy governor of the Reserve Bank of India (RBI), on Friday. Headline inflation persistently crossed the upper limit of the tolerance band ...

Federal Bank Q1 advances up 21%; deposits grow 21.4% to reach Rs 2.22 trn Sequentially, the private bank’s deposits grew by 4.3 per cent over outstanding deposits at the end of March 2023. Federal Bank has posted a 20.9 per cent year-on-year (YoY) growth in advances at Rs 1.86 trillion in the quarter ended June 30, 2023 (Q1 FY24). ...

How HDFC merger impacts home loan borrowers, FD investors, account holders The boards of HDFC and HDFC Bank have approved the merger with effect from July 1, 2023, both companies informed the stock exchanges late on Friday. Following the amalgamation, HDFC Bank would be the fourth-largest bank in the world with a market capitalisation of Rs 14.73 trillion.  But how ...

Important financial and tax deadlines in July 2023 July brings several important deadlines that you must put reminders for. Firstly, the income tax return (ITR) filing deadline is approaching, which means taxpayers need to ensure timely submission. Additionally, the deadline for opting for higher pension contributions under the Employees’ Provident Fund Organization (EPFO) is also a key consideration.  ...