lic housing finance

LIC Housing Finance Ltd Vs DCIT (ITAT Mumbai)-The provisions of rule 8D of the Rules which have been notif ied with effect from March 24, 2008, would apply with effect from assessment year 2008-09. Even prior to assessment year 2008-09, when rule 8D was not applicable, the AO had to enforce the provisions of sub-section (1) of section 14A. For that purpose, the AO is duty bound to determine the expenditure which has been incurred in relation to income which does not form.. Full Article

Bringing prudence in lending to home borrowers, the Reserve Bank of India (RBI) today increased provisioning for teaser loan rates by 160 basis points, from 0.4 per cent to 2 per cent. For the first time, the central bank has sought to curb excessive Full Article

The government will devise a national procurement law that will clearly lay down principles to make the process for all organisations, including PSEs, transparent and competitive to minimise bidder collusion and frauds. Full Article

Nine days after their arrest in a cross-country housing loan scam, a special CBI court today granted bail to all the eight accused, including LIC Housing Finance CEO Ramchandran Nair, after observing that their custody is not required further. Full Article

LIC Housing Finance, which is in the eye of the loan scam, on Monday said that outstanding loans to the tune of Rs 389 crore are under the scrutiny of the Central Bureau of Investigation (CBI), but claimed that these are performing loans with a colla Full Article

Stung by the real estate bribes-for-loans scam, banks and housing finance companies will henceforth seek additional security and add completion guarantee clauses into agreements before sanctioning loans to developers. Several bankers and housing fina Full Article

Share of Money Matters Financial Services today nosedived by 20 per cent, hitting a lower circuit on BSE, on allegations that the firm bribed senior officials of public sector financial institutions for procuring loans for corporates. The Mumbai-base Full Article

Several banks and housing finance companies have come under the scanner of the competition watchdog for imposing penalty on pre-payment of loans. The Competition Commission of India, according to a CCI official, is scrutinising a complaint concerning pre-payment penalty from a customer against major home loan players like HDFC, LIC Housing Finance and Deutsche Postbank. Full Article