When I asked people for suggestions for ‘Mann ki Baat’, I can say that almost all the suggestions that were received echoed one theme. Everyone wanted me to speak in more detail about the 500 & 1000 rupee notes.
It has now been decided to introduce a new scheme for depositing SBNs with designated currency chest at the district level, under guarantee agreement similar to the current facility available at RBI offices.
Draft Model GST Law, Draft IGST Law and Draft Compensation Law placed in the public domain for information of trade, industry and other stake holders.
Beginning November 9, 2016, there has been a surge in deposits relative to the expansion in bank credit, leading to large excess liquidity in the system. The magnitude of surplus liquidity available with the banking system is expected to increase further in the fortnights ahead.
Senior Citizen Savings Schemes deposits are eligible for deduction under section 80C of Income Tax Act but interest earned on deposit is taxable.
CHAPTER– I PRELIMINARY 1. Short title, extent and commencement (1) This Act may be called the Integrated Goods and Services Tax Act, 2016. (2) It extends to the whole of India. (3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint, and different dates […]
India’s competitiveness has improved and India rose 16 ranks faster to climb to 39th place among 138 countries. However, there still remain substantial changes in the ease of doing business and the taxation system
Systematic Investment Plans (SIPs) in Mutual Funds in India has almost doubled from 60 lakh as on 31st March 2014 to 116.3 lakh as on 31st March 2016. It has further increased to 134.5 lakh as on 31st October 2016.
RBI advises that exchange of banknotes in ₹ 500 and ₹ 1000 denominations will continue to be available at RBI counters
Banks are, hereby, advised that they may continue to allow their existing customers to withdraw cash from their accounts upto ₹ 24,000/- per week, till further instructions.
