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GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT

GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT

GAAR, it said, will come into force from April 1 and can be invoked only through a two-stage process involving a nod at the level of principal commissioner of income tax and a panel headed by a high court judge.

 NPCI declares Rs 54.90 cr prize money for NITI Aayog's lucky draw schemes NPCI declares Rs 54.90 cr prize money for NITI Aayog's lucky draw schemes

National Payments Corporation of India (NPCI) on Saturday declared Rs 54.90 crore prize money to over 3.42 lakh winners for NITI Aayog's lucky draw schemes for consumers and merchants. The two schemes are - Lucky Grahak Yojna (LGY) and Digi-Dhan Vyapar Yojna (DVY). 

Govt respects RBI's autonomy and independence: Finance Ministry Govt respects RBI's autonomy and independence: Finance Ministry

A day after the employee unions of the Reserve Bank of India expressed their resentment against alleged interference of the government in the central bank`s affairs, the Finance Ministry on Saturday said that it fully respects its autonomy.

Forex kitty down $1.14 billion to $359 billion Forex kitty down $1.14 billion to $359 billion

A huge fall in gold reserves led to a USD 1.14 billion dip in the country's forex reserves to USD 359.155 billion for the week ended January 7, the Reserve Bank said on Friday.

Exports rise for 4th month in December; up 5.72% at 23.9 billion Exports rise for 4th month in December; up 5.72% at 23.9 billion

India's exports continued to grow for the fourth straight month in December 2016, expanding by 5.72 percent to USD 23.9 billion compared to USD 22.6 billion in the same month of previous year.

8,300 non-technical govt jobs open for class 10 passouts; application for SSC exam closes on Jan 30 8,300 non-technical govt jobs open for class 10 passouts; application for SSC exam closes on Jan 30

There is good news for those who have passed matric and are looking for a job in government department.

RBI may cut repo rate by 0.25% in February: HSBC report RBI may cut repo rate by 0.25% in February: HSBC report

With uncertanity over implementation of GST, rising crude oil prices and the challenging 4 percent CPI in medium term, Reserve Bank may cut repo rate for the final time by a 25 basis points in the February policy, says a report.

 

Centre seeks lifting of ban on 10-year-old diesel vehicles in Delhi NCR Centre seeks lifting of ban on 10-year-old diesel vehicles in Delhi NCR

The Centre today moved the Supreme Court seeking lifting of the ban on 10-year-old diesel vehicles in Delhi and NCR, saying it was affecting the economically weaker section of people.

India's 2016 Iran oil imports hit record high India's 2016 Iran oil imports hit record high

India`s annual oil imports from Iran surged to a record high in 2016 as some refiners resumed purchases after the lifting of sanctions against Tehran.

American companies want more clarity in India's tax policies

American companies are keen on investing in India but they want to see improvement in business climate like clarity in tax policies and streamlining of "complex" regulations, a top Obama Administration official has said.

Attorney General clears way for Rs 3,050 crore penalty on Airtel, Voda, Idea Attorney General clears way for Rs 3,050 crore penalty on Airtel, Voda, Idea

Paving the way for Rs 3,050 crore cumulative penal action on telecom operators Bharti Airtel, Vodafone and Idea Cellular, the Attorney General is learnt to have opined that the Department of Telecom has power to impose penalty on grounds of poor quality of service.

Demonetisation pushes retail inflation to a 3-year low of 3.41% in December Demonetisation pushes retail inflation to a 3-year low of 3.41% in December

Falling prices of vegetables and pulses in the wake of cash crunch following the demonetisation move pushed the retail inflation to a 3-year low of 3.41 percent in December.

Airtel Payments Bank launches nationwide operations Airtel Payments Bank launches nationwide operations

Finance Minister Arun on Thursday launched the Airtel Payments Bank. Airtel Payments Bank launched its nationwide operations with an initial investment of Rs 3,000 crore and offering an interest rate of 7.25 per cent for savings accounts.

Industrial production grows 5.7% in November year-on-year; manufacturing, mining sectors shine Industrial production grows 5.7% in November year-on-year; manufacturing, mining sectors shine

Backed by growths in mining, manufacturing and electricity sectors, industrial outputs grew 5.7 percent in the month of November compared to the contraction of 3.4 percent in the same month in 2015.

Adverse effects of demonetisation on India's economy will disappear in medium term: World Bank Adverse effects of demonetisation on India's economy will disappear in medium term: World Bank

The World Bank expects private investment to accelerate as firms and banks undertake the necessary measures and the effects of important structural reforms start being felt.

Demonetisation, GST rollout will boost economy, make society tax compliant: Arun Jaitley Demonetisation, GST rollout will boost economy, make society tax compliant: Arun Jaitley

Pinning hope on the reforms brought by his government, Finance Minister Arun Jaitley on Wednesday said that note ban and GST rollout will help make the Indian society more tax compliant.

No demonetisation impact: Indians top flyers globally with 22% growth in November No demonetisation impact: Indians top flyers globally with 22% growth in November

Despite the demonetisation move that was said to have affected some sectors of the India, Indians were the top flyers in the month of November 2016 with the domestic air passenger traffic growing a huge 22.3 percent during the month.

Low inflation must for meaningful interest rate regime: Urjit Patel Low inflation must for meaningful interest rate regime: Urjit Patel

RBI Governor Urjit Patel on Wednesday made a strong case for keeping inflation low on durable basis saying it is "essential prerequisite" for meaningful interest rate structure to increase investments for better growth.

 Imposing service charge is unfair trade practice; consumers need not pay: Ram Vilas Paswan Imposing service charge is unfair trade practice; consumers need not pay: Ram Vilas Paswan

Consumer Affairs Minister Ram Vilas Paswan said on Wednesday that imposition of service charge is unfair trade practice and consumers need not pay for the same.

RBI continuing to press ahead for smooth transmission of monetary policy: Urjit Patel RBI continuing to press ahead for smooth transmission of monetary policy: Urjit Patel

RBI Governor Urjit Patel on Wednesday said that the central bank will continue to press ahead for a more fluid and smooth transmission of monetary policy.

 

FM Jaitley hopeful of resolving issues to roll out GST from Apr 1 FM Jaitley hopeful of resolving issues to roll out GST from Apr 1

Finance Minister Arun Jaitley on Wednesday reiterated that the Centre is still aiming to roll out the Goods and Services Tax (GST) regime from April 1 if all pending issues are sorted out.