On the basis of the decisions of the Government, interest rates for small savings schemes are to be notified on quarterly Accordingly , the rates of interest on various small savings schemes for the second quarter of financial year 2016-17 , on the basis of the interest compounding/payment built-in in the schemes, shall be as under :
Quick approval, low-risk, and collateral-free are some of the reasons why personal loan is one of the most feasible options to generate fund. However, as it is an unsecured loan, the interest rates can tilt towards the higher side. As of now, the average rate of interest for personal loans is between 11.49% – 20%.
Central Government hereby notifies that competent authority in relation to public servants referred in clause (h) of sub- section (1) of section 14 of the said Act, shall be the Minister-in-charge of the Ministry of Home Affairs.
The Government has taken the momentous step of both setting a Consumer Price Index (CPI) based inflation objective for the Reserve Bank of India as well as setting up an independent monetary policy committee (MPC). We intend to ensure these frameworks and institutions work as they should in producing a low inflation future for India.
Central Government with respect to registration of persons, due diligence and maintenance of information, and the Central Board of Direct Taxes for matters relating to statement of reportable accounts, hereby make the following rules further to amend the Income-tax Rules, 1962, namely:-
This article covers the major highlights of the draft modern GST law including the intention of legislation along with the probable impact on industry & operation:
The undersigned is directed to state that some posts of Members in the Central Board of Direct Taxes in the Department of Revenue in the pay scale of Rs. 80,000/- (Fixed) are likely to fall vacant till. 31.3.2017. The following categories of officers are eligible for appointment to these posts:
Policy condition 1 (e) of Chapter 88 of ITC (HS), 2012 is being revised to indicate exemption from DGFT licence for persons who have been granted permission to operate air transport services by Ministry of Civil Aviation and thereon DGCA has granted permission to import aircraft on that basis.
The take-aways from the Conference on the CBEC side are:- 1. Need for preparation for roll-out of GST with focus on IT and increased capacity building through training of officers. 2. Need to focus on Dispute Resolution: Identify 20 topmost litigated issues and examine from policy perspective whether any intervention is required.
As per the Draft GST model law and the process documents issued by the Department of revenue. There is a reference of three ledgers that are electronic cash ledger, electronic credit ledger and tax liability ledger.
