Finance News

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 ...

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 ...

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 ...

Most loved credit cards for online spends in India Even though UPI is eating into the debit card market, India is on track to achieving the 100 million credit-card milestone this year as  credit cards in force (CIF) reached a record high in April 2023 with 86.5 million cards in circulation, according to a report  by Bankbazaar. Data from ...

FM seeks spotting of credit-deficient districts for financial inclusion File pic | Photo: ANI Twitter Finance Minister Nirmala Sitharaman on Monday suggested identification of credit-deficient districts in each state and carrying out special credit outreach camps there. She also suggested holding a special district level review committee meeting between July 15 to August 15 and inviting MPs from ...

Reports of missing Rs 500 notes based on erroneous information, says RBI India was close to printing Rs 10,000 notes in 2016: All you need to know Provide adequate infra at branches for Rs 2,000 note exchange: RBI to banks RBI asks banks to keep daily data on exchange, deposit of Rs 2,000 notes 50% of Rs 2,000 notes returned ...

Tamil Nadu woos fintech firms; hopes to raise Rs 12,000 cr for Fintech City Tamil Nadu chief minister M K Stalin has laid the foundation for a Fintech City and Fintech Tower in Chennai, targeting an investment of about Rs 12,000 crore in the sector. “We have allotted 56 acres at Nandambakkam in the city. This will attract Rs ...