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Thrust: 1. IR to become prime mover of economy once again 2 Resource Mobilization for higher Investments 3. Decongestion of heavy haul routes and speeding up of trains: emphasis on gauge conversion, doubling, tripling and electrification 4. Project delivery 5. Passenger Amenities. 6. Safety 7. Transparency & System Improvement. 8. Railways to continue to be … Read more
Q.1. What is NEFT? Ans: National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme, individuals, firms and corporates can electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country participating in the Scheme. … Read more
There are various ways to save tax by taking housing loan. We can take tax benefit on housing loan under section 80C, section 80EE and section 24. § What is the maximum limit of deduction u/s 80C? Ø If the loan is taken for Repairs/ Renewal/ Re-construction: No tax deduction is allowed for interest … Read more
What is allowance? The allowance is the fixed amount of money or other substance given regularly in addition to salary for the purpose of meeting some particular requirement connected with the services rendered by the employee or as compensation for unusual conditions of the service. The allowances are fixed amount and it … Read more
8th floor, Vikrikar Bhavan, Mazgaon, Mumbai – 400010 TRADE CIRCULAR To, No. DC (PT) / Adm-20/ 2014 / 55 Trade Circular No. 3 T of 2015 Mumbai, Date: 20.02.2015 Sub: Procedure for submission of returns under Profession Tax, Luxury Tax & Sugarcane Purchase Tax Act after making Payment through GRAS Ref: Trade Circular No.16 T … Read more
What is deduction? The deduction is specified amount which the taxpayer can deduct from his Gross Total Income. The deduction under section 80C not only encourages savings, but also assists the taxpayers in meeting their essential expenditures. Let’s know the background of section 80C: Most of the Income … Read more
The Reserve Bank of India (RBI) has cancelled the licence of United Commercial Co-operative Bank Ltd., Kanpur (Uttar Pradesh). The order was made effective from the close of business on January 24, 2015. The Registrar of Co-operative Societies Uttar Pradesh has also been requested to issue an order for winding up of the bank and … Read more
Printing of Budget Documents of Union Budget 2015-16 Commenced with Halwa Ceremony; more than 100 Officials Involved in Making the Union Budget will be Locked in Press Till Union Budget is Presented in Lok Sabha by the Finance Minister on 28th February, 2015 More than 100 officials involved in making the Union Budget 2015-16 will … Read more
RBI/2014-15/474 A.P. (DIR Series) Circular No.79 February 18, 2015 To All Category – I Authorised Dealer Banks Madam / Sir, Guidelines on Import of Gold by Nominated Banks / Agencies Attention of Authorised Dealer Category – I (AD Category – I) banks isinvited to the provisions contained in A.P.(DIR Series) Circular No.42 dated November 28, 2014 in terms … Read more
[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 05/2015-Customs (ADD) New Delhi, the 18th February, 2015 G.S.R. (E). – Whereas, the designated authority, vide notification No. 15/13/2013-DGAD, dated the 6th June, 2013 published in the Gazette … Read more