In the last 11 days, about Rs 8 crore rupees were deposited in the donation boxes, while the amount received through cheque and online is around Rs 3.50 crore.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
India marched into the T20 World Cup semi-finals on Monday as skipper Rohit Sharma's blistering 92 set up a 24-run victory over Australia.
According to the Election Commission data, 30 out of the state's 40 Lok Sabha seats went to the BJP-led coalition in the latest elections, a sharp drop compared with 39 in 2019 and lower than the tallies of 2014 (31) and 2009 (32).
The Reserve Bank of India (RBI) on Friday said nearly 97.26 per cent of the Rs 2,000 bank notes have been returned to the banking system, and only about Rs 9,760 crore worth of the notes are still with the public. On May 19, the RBI announced the withdrawal of Rs 2,000 denomination bank notes from circulation. "The total value of Rs 2,000 bank notes in circulation, which amounted to Rs 3.56 lakh crore as at the close of business on May 19, 2023 when the withdrawal of Rs 2,000 bank notes was announced, has declined to Rs 9,760 crore as at the close of business on November 30, 2023," the RBI said in a statement.
The federal agency said it conducted raids against a director of Zanmai Lab Pvt Ltd, which owns WazirX, on August 3 in Hyderabad and alleged he was "non-cooperative". The agency's probe against the crypto exchange is linked to its ongoing investigation against a number of Chinese loan apps (mobile applications) working in India.
Union Finance Minister Nirmala Sitharaman, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures.
'The opposition wants the country to run on the basis of Shariat but this cannot happen'
'The transition from payment banks to SFBs is only permissible for banks not owned by corporate entities.'
The Employees' Provident Fund Organisation's (EPFO) apex decision-making body, Central Board of Trustees, decided to fix 8.5 per cent rate of interest for 2020-21 at its meeting in Srinagar on Thursday, sources said.
'Understand how wedding expenses fit into your overall financial situation.' 'Evaluate how different levels of spending will impact other goals like retirement, travel, or housing.'
In a setback to the Centre, the Supreme Court on Thursday held that states have the legislative competence to impose taxes on mines and minerals-bearing lands under the Constitution.
"Does God send his emissary to sponsor hooliganism in the name of CAA or stop funds for 100-day work or prevent rural houses from being built? Does God go back on his promise of depositing Rs 15 lakhs in people's bank accounts? God cannot do such things," she added.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
'Lack of self-control over spending leads to a credit card debt trap.' 'People think they have money and spend using a credit card, but when it's time to pay, they realise they don't have the money.'
She vowed to usher in Amma's rule by winning the 2026 assembly polls.
The maiden, critical mineral auction in India has failed to enthuse the mining industry, with the first tranche achieving less than a 50 per cent success rate and the auction of several mines was cancelled owing to low response. The results, announced by the Ministry of Mines on Monday, showed that six lesser-known companies emerged as preferred bidders. Among these were Agrasen Sponge, Kundan Gold Mines, Dalmia Bharat Refractories, Sagar Stone Industries, and Maiki South Mining.
ICICI Bank on Saturday said its March quarter consolidated net profit grew 18.5 per cent to Rs 11,672 crore, helped by lower provisions. On a standalone basis, the second largest private sector lender showed a 17.4 per cent growth in its profit after tax at Rs 10,708 crore for the reporting quarter against Rs 9,122 crore in the year-ago period. For fiscal 2023-24, its standalone net profit grew to Rs 40,888 crore from Rs 31,896 crore a year ago.
'The government should come back as a job creator as it did in the 1960s and the 1970s.'
The bodies of Havildar Rohit Kumar, Havildar Thakur Bahadur Ale and Naik Gautam Rajbanshi were trapped deep within a crevasse and lay buried under thick layers of ice and large volumes of snow for the past nearly nine months.
'It's a debatable topic, and we will submit our comments to the RBI by June 15.'
Thanks to a booming market, India now has more than 300 family offices, up from 45 in 2018, according to a PwC report. The number is expected to grow rapidly, with promoters establishing more businesses in Tier-II and Tier-III cities. Family businesses play a crucial role in India's booming economy, spanning manufacturing, retail, real estate, healthcare, and finance.
There was such a rush that more counters were opened outside the GPO building, under the open sky, he added.
IMAGES from the IPL match between Punjab Kings and Royal Challengers Bengaluru played in Dharamsala on Thursday
Paytm app users will continue to use all services like mobile and DTH recharges except for Paytm Payments Bank's offerings including wallet funds, Fastag and bank accounts, according to the company hit by RBI restrictions. Paytm Payments Bank users will not be able to add any funds to their wallet and bank accounts but will be able to use the balance until it is exhausted, according to the RBI order. "The RBI has issued a directive restricting Paytm Payments Bank account/wallet from accepting new deposits or allowing credit transactions after March 15, 2024.
Santosh Sabde, who is contesting as independent from the central Maharashtra town, said Election Commission officials on Friday were hesitant to accept the deposit in coins, but "acquiesced eventually".
The rebel leaders met in Jalandhar when SAD chief Badal was holding a meeting with the district presidents and other leaders in Chandigarh to review the party's performance in the Lok Sabha polls.
The National Payments Corporation of India on Thursday granted approval to Paytm-owner One97 Communications Ltd to participate in UPI as a Third-Party Application Provider (TPAP) under the multi-bank model. Axis Bank, HDFC Bank, State Bank of India, and YES Bank will act as Payment System Provider (PSP) banks to Paytm.
The Delhi high court on Monday directed Trinamool Congress leader Saket Gokhale on Monday to apologise and pay Rs 50 lakh damages to former diplomat Lakshmi Murdeshwar Puri, wife of Union minister Hardeep Singh Puri, for his defamatory tweets against her over the purchase of a property in Switzerland.
'You will see him frequently asking customers -- especially retail -- about service experience, pain points, areas of improvement and suggestions.'
'Tax is not required to be deducted from specified payments if a recipient files a self-declaration with the deductor for no deduction of tax.'
P2P platforms do not have the safety net. Instead of playing the role of an intermediary, if they run their own balance sheets for safety and growth, it's a recipe for disaster, warns Tamal Bandyopadhyay.
The need for money among banks, especially for short-term funds, may turn more intense in the last month of the financial year to feed the demand for capital for tax payments and meet year-end targets. The mobilisation of funds via the certificate of deposits (CDs) has seen a threefold increase to over Rs 60,000 crore in the fortnight that ended February 23 from around Rs 20,000 crore in the fortnight of January 26, 2024, according to the Reserve Bank of India (RBI) data.
If the gift is received from a relative, there is no tax implication. But if the gift is received from a non-relative and exceeds Rs 50,000 in value during a financial year, the entire value of the gift is taxable.
As the policy rate has seen a steady increase since May 2022, the percentage of loans offered at interest rates below 8 per cent have declined sharply, dropping from 53 per cent in March 2022 to 18 per cent by June 2023, according to a report by the Reserve Bank of India (RBI). The share of bank loans with interest rates of 10 per cent or higher rose from 22 per cent to 34 per cent during this period, reflecting the impact of a 250 basis point (bps) hike in the policy repo rate by the RBI's Monetary Policy Committee. In response to the rise in repo rate, 32 domestic banks have made corresponding upward revisions to their repo-linked external benchmark-based lending rates (EBLRs), aligning them with the magnitude of the rate hike.
Mandhana's sixth ODI century (117, 127 balls , 12x4s, 1x6) formed the fulcrum of India's competitive 265 for eight on a sluggish Chinnaswamy pitch.
The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
>It's not easy to predict the market. But there are at least two positive factors to back the PSU banks, explains Tamal Bandyopadhyay.
National Conference (NC) vice president Omar Abdullah Friday challenged the Bharatiya Janata Party to contest Lok Sabha polls in the Kashmir Valley, saying he will quit politics if the national party's candidates do not lose their security deposits.
The reason why private banks will play the deposit pricing game strategically is the weakening of banks' deposits base given the competition from MFs and insurance companies due to tax-savings schemes.
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