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Taxclick Team, Author at All About Finance - Page 59 of 97

Pradhan Mantri Jeevan Jyoti Bima Yojana – FAQ

Q1. What is the nature of the scheme?  Q2. What would be the benefits under the scheme and premium payable?  Q3. How will the premium be paid?  Members may also give one-time mandate for auto-debit every year till the scheme is in force, subject to re-calibration that may be deemed necessary on review of experience … Read more

RBI has cancelled the licence of Shri Swami Samarth Urban Co-operative Bank Ltd., Naldurg, Osmanabad

The Reserve Bank of India (RBI) has cancelled the licence of Shri Swami Samarth Urban Co-operative Bank Ltd., Naldurg, Osmanabad. The order was made effective from the close of business on April 30, 2015. The Registrar of Co-operative Societies Maharashtra has also been requested to issue an order for winding up of the bank and … Read more

MVAT and CST registration will grant online from 07/05/2015 – Applicant will not required to attend the Sales Tax Office

8th floor, Vikrikar Bhavan, Mazgaon, Mumbai 400010. To ———————————————————– ———————————————————–  No.JC (Reg) /uploading Document Regn/2015/346 Trade Circular No.5 T of 2015 Murnbai. dated 06/05/2015 Subject: Online grant of registration under the Maharashtra Value Added Tax Act, 2002 and Central Sales Tax Act, 1956. The applications for registration under the MVAT Act, 2002 and the CST … Read more

The provision in the Finance Bill, 2015, will not affect the LPG subsidy and other welfare subsidies received by individuals

Certain doubts have been raised in a section of the media about the applicability of the official amendment moved in the Finance Bill, 2015 in the Lok Sabha on 30th April, 2015 with respect to definition of ‘income’.  Sub-section (2) of section 145 provides that the Central Government may notify Income Computation and Disclosure Standards … Read more

Import of “raw sugar” under Duty Free Import Authorisation (DFIA) scheme is withdrawn

(To be Published in the Gazette of India Extraordinary Part-II, Section – 3, Sub-Section (ii))   Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade       The following sub para (c) is inserted in Para 4.25 of FTP 2015-20 “(c) Duty Free Import Authorisation Scheme shall … Read more

Deduction in respect of payment of interest on loan taken for higher education under Section 80E

  ·         Which kind of expenditure is eligible for deduction under section 80E? If loan is taken by an Individual for any study (i.e., any study after passing senior secondary examination or its equivalent) from bank, financial institution or an approved charitable institution, the amount of interest is deductible in the year in which the … Read more

All about NBFC

1. What is a Non-Banking Financial Company (NBFC)? A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does … Read more