Government is considering a proposal to permit 49 percent FDI through automatic approval route in the insurance sector with a view to attracting more overseas inflows.
Retirement fund body EPFO will not revise its interim interest rate of 8.8 percent downward for the current financial year, Labour Minister Bandaru Dattatreya said Friday.
The likely increase in dearness allowance by six percent to 125 percent from existing 119 percent would benefit over 10 million central government employees and pensioners.
The government on Tuesday cut rates on short-term post office deposits by 0.25 percent but left long-term instruments such as MIS, PPF, senior citizen and girl child schemes untouched.
Government on Tuesday cut interest rates on small savings of 1, 2, 3 year term deposits; Kisan Vikas Patra and 5-year Recurring Deposit by 0.25 percent.
Know the rate of interest on PF deposits since 1952.
In an effort to bring cheers to its more than 6 crore subscribers, retirement fund body EPFO on Tuesday announced to hike interest rate on PF deposits to 8.8 percent for this fiscal, which is higher compared to 8.75 percent provided in previous two fiscals.
The industry body also demanded additional incentives for savings and higher tax allowance for expenditure on education and health, quoting findings from its Aam Aadmi survey.
Its bad news for investors! The interest rates on small savings schemes like NSC and some post office schemes with maturity up to five years are set to fall from April onwards.
As per reports, central government employees are likely to expect basic pay hike of around 30%, which will be effective January 1, 2016.
India is a "lightly taxed" nation, Minister of State for Finance Jayant Sinha said Thursday, urging CAs to help the government collect due taxes and raise the tax-GDP ratio to 20 percent.
The unions have decided to oppose any proposal to retain the existing rate of 8.75 percent for the current fiscal along with a uniform bonus of Rs 200 to all subscribers at meeting of the EPFO's trustees on February 16.
What if you do not get any interest on your Employees Provident Fund account in 2015-16, but only get bonus on the same, provided you fulfill certain conditions?
Income Tax Department has identified 4,000-5,000 foreign companies based in this megapolis that are not paying taxes on time, including due to tax disputes, and expects to soon recover from them dues totalling nearly Rs 8,000 crore.
After two successive years of revising downward the tax revenue target, fiscal 2015-16 which ends on March 31 is likely to see tax revenue target of Rs 14.49 lakh crore being met.
The Budget 2016-17 is expected to increase the income tax exemption tax limit, and offer more tax deductions
Income Tax Department on Friday cautioned taxpayers not to share their PIN or password of mails saying it never ask for such details.
To ease communication with the Income-Tax department, the government has allowed tax payers to reply to notices using their registered email address.
Ministries and departments can raise afresh the demand for pay revision if they find that some of the justified suggestions made by the staff associations were not accepted by the 7th Central Pay Commission.