close
This ad will auto close in 10 seconds
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.

There is scope for further cuts in lending rates: RBI Guv There is scope for further cuts in lending rates: RBI Guv

RBI Governor Urjit Patel on Wednesday said there is further scope for banks to reduce lending rates as the Reserve Bank has already brought down its policy rates by 175 basis points since January 2015.

Foreign direct investment zooms 60% to $4.68 billion in November Foreign direct investment zooms 60% to $4.68 billion in November

With the government taking steps to improve ease of doing business and relax regulations, foreign direct investment into the country surged by 60 percent to USD 4.68 billion in November 2016.

Monetary policy review: RBI cuts FY17 growth forecast to 6.9%, pegs 7.4% for next year Monetary policy review: RBI cuts FY17 growth forecast to 6.9%, pegs 7.4% for next year

RBI Governor Urjit Patel on Wednesday cut the economic growth forecast to 6.9 percent for the current fiscal from 7.1 percent estimated earlier, even as he said the economy will bounce back to 7.4 percent rate next fiscal.

RBI offers no respite to borrowers, keeps interest rates unchanged RBI offers no respite to borrowers, keeps interest rates unchanged

Giving no respite to borrowers, the Reserve Bank for the second time in a row on Wednesday opted for a status quo in its key rates but shifted the stance of the monetary policy from 'accommodative' to 'neutral'.

Note ban: Cash withdrawal limit to be Rs 50,000 a week from February 20, no cap from March 13 Note ban: Cash withdrawal limit to be Rs 50,000 a week from February 20, no cap from March 13

The RBI said that weekly withdrawal limit for savings accounts will be increased from Rs 24,000 to Rs 50,000 from February 20 while there will be no limit on withdrawal from March 13.

'Great to be back', says former RBI Governor Raghuram Rajan at University of Chicago 'Great to be back', says former RBI Governor Raghuram Rajan at University of Chicago

Having returned to academia after a controversy-ridden stint at the RBI, former Governor Raghuram Rajan feels "great to be back" riding his bike in Chicago and hopes to "do it as long as" he can.

RBI monetary policy review today; 0.25% rate cut expected RBI monetary policy review today; 0.25% rate cut expected

Other factors which will guide the RBI towards lowering the rates include Finance Minister Arun Jaitley cutting the fiscal deficit to 3.2 percent for next year and the dovish stance adopted by the US Fed.

New income disclosure scheme: People can deposit money in parts New income disclosure scheme: People can deposit money in parts

The government on Tuesday allowed declarants to make deposits on one or more occasions in Pradhan Mantri Garib Kalyan Deposit Scheme(PMGKDS), 2016.

HSBC, ICIJ list: I-T dept detects Rs 16,200 crore black money HSBC, ICIJ list: I-T dept detects Rs 16,200 crore black money

Over Rs 16,200 crore in black money has been detected by the government after investigations on global leaks about Indians stashing funds abroad, Parliament was informed Tuesday.

RBI monetary policy: MPC begins review meet amid rate cut hopes RBI monetary policy: MPC begins review meet amid rate cut hopes

The rate-setting Monetary Policy Committee (MPC) on Tuesday began its third review meeting amid mixed expectations of possible rate cut by the Reserve Bank.

Consultations on demonetisation were on since February last year: FM Jaitley Consultations on demonetisation were on since February last year: FM Jaitley

A series of consultations were held between the government and top RBI functionaries on demonetisation since February last year, before the central bank Board took a formal decision and conveyed it to the government which took the final call, Rajya Sabha was informed Tuesday.

Digital push: Govt confident that debit card charges may decline Digital push: Govt confident that debit card charges may decline

As the government seeks to promote digital transactions, Finance Minister Arun Jaitley on Tuesday exuded confidence that the charges on such payments would come down with increase in volumes.

RBI saved rupee from turning volatile: Arvind Panagariya RBI saved rupee from turning volatile: Arvind Panagariya

The RBI played an "admirable role" in bringing "incredible" stability to the rupee in the face of demonetisation and global upheavals like Brexit and the US elections, NITI Aayog Vice Chairman Arvind Panagariya has said.

Indian economy projected to overtake US by 2040 Indian economy projected to overtake US by 2040

The global economic order is expected to shift from advanced to emerging economies over the next few decades, and by 2040 India could edge past the US to become the world's second largest economy in purchasing power parity (PPP) terms, says a report.

Like Swachh Bharat, demonetisation is a movement to clean India from corruption, black money: PM Modi Like Swachh Bharat, demonetisation is a movement to clean India from corruption, black money: PM Modi

Prime Minister Narendra Modi on Tuesday said that like Swachh Bharat, the decision on demonetisation is a movement to clean India from corruption and black money.

Demonetisation woes due to bank officers' role: Arvind Panagariya Demonetisation woes due to bank officers' role: Arvind Panagariya

In implementing demonetisation what did not go as planned was that "a lot of bank officials really played it in the way that they should not have played it" and it was on a scale not anticipated, according to Arvind Panagariya, Vice Chairman of Niti Aayog.

CBDT signs 4 more advance pricing pacts with tax payers CBDT signs 4 more advance pricing pacts with tax payers

The CBDT expects more APAs to be concluded and signed before the end of the current fiscal.

 

Telecom Comm seeks clarity from Trai on Rs 3,050-crore fine Telecom Comm seeks clarity from Trai on Rs 3,050-crore fine

Inter-ministerial panel Telecom Commission on Monday sought clarity from Trai on Rs 3,050-crore penalty that the watchdog recommended on three operators, including Airtel and Vodafone, for allegedly violating interconnect norms and its power to impose fine in such cases.

Focus of Budget is on tax compliance: CBDT

The Union Budget 2017-18 focuses on increasing tax compliance while at the same time safeguarding the honest tax payers from any harassment, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said on Monday

Winding up FIPB to make ease of doing business better: Nirmala Sitharaman Winding up FIPB to make ease of doing business better: Nirmala Sitharaman

Disbanding FIPB will further improve ease of doing business and the respective regulators of the ministries concerned are "sufficient" to take care of investment proposals, Commerce and Industry Minister Nirmala Sitharaman today said.