Financial News India: Read all the latest finance news on credit card, online payment, bank loan interest rate, scams, GDP growth Inflation, Saving schemes, PPF, NSC, KVP Bank, FD calculators ULIP IIP numbers
Finance : Understand the importance of completing re-KYC for your demat account opening in India. Learn why it crucial for account security ...
Finance : Learn how to determine the right coverage for health and life insurance. Discover the best plans and tips for securing your family...
Finance : Article explains power of Microsoft Word shortcut keys with our comprehensive guide. Increase productivity, reduce errors, and str...
Finance : Discover insights into the Interim Budget 2024-2025 presented by Finance Minister Nirmala Sitharaman. Understand its impact on var...
Finance : This guide provides practical tips and tools to help you stay ahead, ensuring you never miss a beat in the fast-paced world of fin...
Finance : Learn about the extension of India-USA agreement on Equalisation Levy 2020 until June 30, 2024, amidst OECD/G20 negotiations on di...
Finance : Discover India exceptional performance in the FATF Mutual Evaluation 2023-24, placing it in the 'regular follow-up' category and b...
Finance : Smt. Nirmala Sitharaman assumes office as Union Minister for Finance & Corporate Affairs, pledges commitment to 'Ease of Living' a...
Finance : Get clear insights on registering a finance company or unit under the IFSCA (Finance Company) Regulations, 2021. Comprehensive FAQ...
Finance : Gain clarity on compliance with the International Financial Services Centres Authority (IFSCA) Anti Money Laundering (AML), Counte...
Finance : In present facts of the case, the Hon’ble High Court have given observations on the issue of unstamped arbitration agreement. It...
Finance : Reviewing the landmark UK Supreme Court decision in Barclays Bank UK PLC vs Philipp case. Analysing its global implications on ban...
Finance : Delhi High Court held that if the investigation is not completed then merely because the report has been filed, the right of statu...
Finance : Frequent vacancy arising in DRT is an issue which needs consideration by Government and practical solution has to be found at the ...
Finance : Syed Adeel Shah Vs Directorate of Enforcement (Jammu and Kashmir High Court) It appears that in an earlier round of litigation whe...
Finance : Learn the form and manner for seeking registration and other requirements under the IFSCA (BATF) Regulations, 2024. Comprehensive ...
Finance : Explore the latest IFSCA update permitting IBUs to offer OTC derivatives on Gold and Silver. Understand the changes, implications,...
Finance : IFSCA updates ACDE Module v6.0 with changes to current account interest rules for IFSC Banking Units. Details on amendments, imple...
Finance : Stay updated with latest notification from Ministry of Finance on Senior Citizens Welfare Fund interest rate of 7.15% effective Ap...
Finance : Ministry of Finance sets Special Deposit Scheme interest rate at 7.1% for April to June 2024. Learn more about the latest update....
RBI EFT is a Scheme introduced by Reserve Bank of India (RBI) to help banks offering their customers money transfer service from account to account of any bank branch to any other bank branch in places where EFT services are offered.The EFT system presently covers all the branches of the 27 public sector banks and 55 scheduled commercial banks at the 15 centres (viz., Ahmedabad, Bangalore, Bhubneshwar, Kolkata, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Kanpur, Mumbai, Nagpur, New Delhi, Patna and Thiruvananthpuram). Funds transfer is possible from any branch of these banks at these centres to other branch of any bank at these centres both inter-city and intra-city.
Recycle Bin for Tally 7.2 and Tally 9 Enables you to retrieve Voucher entries that you may have accidentally deleted in Tally. It is similar to the Windows recycle-bin and works with Tally 7.2 and Tally 9. The ZIP file contains a readme.txt file which contains steps for configuring Tally.ini in order to use RBIN.TCP file.
Employing muscle power to recover vehicle loans cannot be permitted in a civilised society where there is effective rule of law – procedure of law may be slow, but that is no excuse for use of force: National Consumer Commission. It is well known that the private banks use muscle power to recover loans. The National Consumer Redressal Commission in a recent order came down heavily on such barbaric methods of collection. What more, the Commission held that even the hire purchase agreement is ab initio void.
An auditor is precluded from making inquiries and sending feelers to appoint him as the auditor. The proposal should come from the client and should not be initiated by the auditor. Several professional and legal requirements are to be considered while accepting a new audit. Code of conduct, auditing and assurance standards, the Indian Contract Act and the Companies Act contain legal provisions about the appointment and acceptance of an audit.
Making things easier for the business process outsourcing (BPO) units, other call centres and the manufacturing sector, the government is likely to amend Section 66 of the Factories Act, 1948 to enable these entities to put women on night shifts, particularly between 7 pm and 6 am, which is otherwise prohibited under the Act.
Section 1 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 – Applicability of Act – Whether co-operative banks established under Maharashtra Co-operative Societies Act, 1960, Andhra Pradesh Co-operative Societies Act, 1964 and Multi-State Co-operative Societies Act, 2002, transacting business of banking, do not fall within meaning of ‘banking company’ as defined in section 5(c) of Banking Regulation Act, 1949 and, therefore, provisions of Recovery of Debts Due to Banks and Financial Institutions Act, 1993, by invoking doctrine of incorporation, are not applicable to recovery of dues by such co-operative banks from their members – Held, yes
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In a recent case, the Madras High Court concluded that P&L account and balance-sheet are not books of account as contemplated under the I-T Act. Computation of business income under the income-tax law has to be made on the basis of `books of account’. This law has been in operation since 1992, but surprisingly there was no definition of the term till 2001. Finance Act, 2001 introduced the definition through Section 2(12A). The definition, which took effect from June 1, 2001, reads thus:
These rules may be called the Post Office (Monthly Income Accounts) Amendment) Rules, 2007. (2) They shall come into force on the date of their publication in the Official Gazette.2. 2. In the Post Office (Monthly Income Account) Rules, 1987,—(i) in rule 4, for the words “three lakh” and “six lakh”, the words “four lakh fifty thousand” and “nine lakh” respectively shall be substituted;
Chapter III of the Income-tax Act, 1961 (hereinafter referred to as the ‘Act’) deals with incomes which do not form part of total income. Sections 10A and 10B of the Act are covered under Chapter III. These sections allow certain deductions, for certain years, from the total income of an assessee. These deductions are commonly described as ‘tax holiday’ and the period during which these deductions are available is commonly described as ‘tax holiday period’.
