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Compromise settlement provides ways to lenders to recover lost money: RBI The Reserve Bank of India (RBI) said on Tuesday that a “compromise settlement” with borrowers aims to enable multiple avenues to lenders to recover the money in default without much delay. The RBI made the remarks while issuing a set issued a set of frequently asked questions ...

Errors, changes in payment terms, or disputes may require updates to the original journal entries to ensure your AR balance and financial statements are correct. The business needs to track each installment if the customer is on a payment plan. Each payment would follow the same process of debiting cash and crediting accounts receivable. This ensures the business can monitor ...

Filing ITR without taxable income: Details on benefits, advantages The Income Tax (I-T) Department has opened its portal for individuals to file their income tax returns (ITR) for the assessment year 2023-24, which covers the Financial Year 2022-23 (FY23). The deadline for filing the return is July 31, 2023. Some salaried individuals have an assumption that they don’t need ...

India Inc feels time ripe for next phase of GST reform: Deloitte Survey Indian economy to grow 6.5% in FY24; CAD may widen further: Economic Survey Global tax reform may add $250 bn a year to public coffers, estimates OECD Irdai’s recent reforms will help expand the market Checkmate for Chinese firms in India’s growing reinsurance market Cabinet reshuffle: Arjun ...

Is UPI the new Rs 2000? Data suggests so, says SBI Against the popular perception that UPI is popular in India’s metros only, data shows that now semi-urban areas are accounting for one-third of the share in value/volume, said SBI in a report.  The top 15 states in India accounted for almost 90% of share in value/volume.  The average ticket ...

Kotak Bank Debit, Spendz Card services will be unavailable during this time [ad_1] Kotak Mahindra Bank has informed its customers via an email that the bank systems will be undergoing a maintenance activity on June 21, 2023. The bank stated in the email: “We would like to inform you that the Bank systems will be undergoing a maintenance activity from ...

Where should you park your funds? Active debt funds,  where the fund manager buys and sells bonds based on assessment of interest rates, prevailing yields and credit risk, dominated the monthly flows in both April and May 2023, dwarfing flows into equity, hybrid and passive funds.  After seeing net inflows of Rs 106,677 crore in April, debt funds saw another ...

Biparjoy Cyclone: LIC announces relaxations for victims of cyclone [ad_1] In order to lessen the miseries of LIC policy claimants and Pradhan Mantri Jeevan Jyoti Bima Yojana beneficiaries affected by the Biparjoy cyclone, LIC has announced concessions.On June 15, 2023, Cyclone Biparjoy hit Gujarat before moving on to Rajasthan. It has left a path of devastation in its wake; there ...

Expedia to stop ‘pay now’ option for foreign bookings Your credit card payments overseas will attract a 20% TCS from July 1 Outward remittances under LRS scheme near $2 billion in Nov: RBI Indians spent nearly $10 billion on foreign travel in April-December TCS Q4 review: Near-term growth to moderate, demand levers intact: Analysts Budget 2023: Understanding 20% TCS on ...

Australia regains millionaire magnet crown Australia is expected to attract the highest net inflow of high net worth individuals in 2023 at 5,200, while the UAE has dropped to second place , following its record-breaking influx in 2022, according to the  Henley Private Wealth Migration Report 2023, which tracks wealth and investment migration trends worldwide. While UAE is still ...