Prashant K Sahu &Amp; John Samuel Raja D In New Delhi

One-stop service centre for filing I-T returns

In a bid to reduce harassment of tax payers, the income-tax department is mulling setting up five centralised return processing centres in different parts of the country.

Taxman to probe 60,000 high-value transactions

These transactions are based on the Annual Information Reports (AIR) filed by entities like banks, mutual funds and companies.

Now, all public sector bank chairmen will grin

The finance ministry is expected to announce a performance-based incentive scheme for bank chairmen on Tuesday.

Law on foreign funds may hit banks: RBI

The Reserve Bank of India has opposed the government's move to bring in a law to introduce a new reporting system for inward flow of foreign contributions.

Govt finalises bank brass reshuffle

The finance ministry has finalised the top-level reshuffle in public sector banks.

Tax breaks for savings deposits

Move will provide a big boost to banks.

Core sector bonds may be tax-free

Sources said Finance Minister P Chidambaram might make an announcement in this connection in Budget 2007-08, as part of his overall strategy for raising long-term finance for infrastructure.

Tax break norm deals PFs a double blow

The amendment now makes it compulsory for corporate PF trusts to comply with the Employees Provident and Miscellaneous Provisions Act, 1952, and to claim exemptions under Section 17 of the same Act.

Zinc majors take the cue, cut prices

A day after the finance ministry cut import duties on a variety of product categories, top manufacturers of zinc -- Hindustan Zinc and Binani Zinc -- slashed prices.

Public sector banks' top brass set for rejig

A major reshuffle in the top brass of nationalised banks is on the cards, with the finance ministry's banking division scheduled to hold interviews for the posts of five chairpersons on January 24.

Service tax rate may be raised to 14%

At present, the service tax rate stands at 12 per cent. Added to this is a 2 per cent education cess, bringing the incidence to 12.24 per cent.

Banks for tax exemption on interest income

To increase the deposit base, the banking industry is likely to press for restoration of tax exemption on interest income, increase in ceiling for tax deduction at source

Householder's policy to cost half

The free pricing regime in the general insurance industry has come into force, with the Insurance Regulatory and Development Authority clearing all the revised rates filed by general insurers.

Inflation below 5% amid high oil prices