Category: Ministry of Finance
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RBI appeals to pay Income Tax in advance
The Reserve Bank of India has appealed to public to avoid last minute rush and remit their Income-tax dues sufficiently in advance of the due date of September 30, 2013. It has also urged the assessees to take advantage of paying taxes at select branches of accredited agency banks which have been authorised to accept…
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SPMCIL Organised workshop on Customer Satisfaction
SPMCIL as a part of its initiatives toward Customer Orientation organized a one day workshop on Customer Satisfaction on 05.08.2013 at India Security Press (ISP) Nashik. The workshop was organized in backdrop of Customer Satisfaction Survey carried out by SPMCIL through M/s Genesis Management and Market Research Pvt. Ltd., (GMMR) Pune for its various Products…
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Is saving account interest is taxable?
With effect from assessment year 2013-2014,a new section 80TTA hasbeen introduced for providing deduction for interest income.sec. 80TTA provides that, any interest income derived from deposits in a savings account (not time deposits) will be allowed as deduction. Interest income up to Rs 10,000 in aggregate shall be allowed as deduction while computing Total Income.…
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CIBIL tv advertising campaign-to teach the need for credit score
Credit Information Bureau of India Limited (CIBIL) launches tv advertising campaign-to teach the need for credit score of individuals while applying for loans and crredit cards.CIBIL’s rating measures one’s ability to pay back thier loans and other dues. Higher rating ensures faster loan approval.CIBIL Credit Information Report (CIR) empowers both loan providers and individuals to…
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INDIA SIGNS AGREEMENT WITH WORLD BANK FOR LOW INCOME HOUSING FINANCE PROJECT
The Loan and Project Agreements for World Bank (IDA) assistance of US$100 million for Low Income Housing Finance Project were signed between Government of India/National Housing Bank(NHB)and the World Bank here on 14th August, 2013. The Loan Agreement was signed by Shri Nilaya Mitash, Joint Secretary, Department of Economic Affairs, Ministry of Finance on behalf…
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SURAKSHIT-CBEC’s Information Security Newsletter
Central Board of Excise and Customs (CBEC) the custodian of the country’s central indirect tax data, launches “SURAKSHIT”, an information security newsletter. Surakshit is a bi-annual newsletter, published for the purpose of exchange of ideas and information related to the field of information security like emerging issues, security tips, interesting news snippets, etc… CBEC has…
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Customs duty on gold, silver and platinum raised
As a part of measures towards containing the current account deficit, the customs duty on gold and platinum has been increased from 8% to 10% and on silver from 6% to 10%. Consequential adjustments in customs duties are being made on gold ore / concentrate, gold dore bar and silver dore bar. Thus, additional duty…
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RuPay-a milestone in e-commerce
National Payment Corporation of India (NCPI) promoted by Reserve Bank of India and some other member banks, which aim is to operate for the benefit of all the member banks and their customers, has launched RuPay, a new card payment scheme. The RuPay card is introduced by NPCI in order to tap into the tremendous…
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Last date for filing ST-3, 31st August
ST-3(Return under section 70 of the Finance Act, 1994) By an order (Order No: 03/2013) Central Board of Excise & Customs(CBEC) has extended due date for submission of ST-3 to 31st August, 2013(which was 25th April,2013) for the period from 1st October, 2012 to 31st March, 2013. The circumstances which gives rise to this extention…
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India signs Double Taxation Avoidance Convention with Morocco
India signed a Protocol amending the India-Morocco Double Taxation Avoidance Convention (DTAC) in New Delhi today. The Protocol was signed by Dr Sudha Sharma, Chairperson, Central Board of Direct Taxes on behalf of Government of India and H.E. Mr. Larbi Reffouh, ambassador of the Kingdom of Morocco to India on behalf of Government of the…