It is important to have the necessary documents on hand to verify the information in the form.
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.
PNB has rich experience in the integration of commercial banks.
Even as the returns of mutual fund (MF) schemes have improved considerably in the past three months, addition of new investors has remained in the slow lane for the MF industry. According to industry data, during the first six months of CY 2023, MFs onboarded only 1.6 million new unique investors, in stark contrast to the 4.7 million investors added during the same period last CY and the 2.4 million in 2021. It is noteworthy, however, that the current additions for this year have doubled in comparison to the figure of 800,000 seen in 2020.
The Congress in Kerala on Friday approached the Election Commission of India (ECI) against the decision of Doordarshan to telecast the controversial movie The Kerala Story, saying it was a 'tacit effort' to divide society on religious grounds to further the electoral prospects of the ruling Bharatiya Janata Party.
'Clients deemed higher-risk are required to update their KYC more frequently.'
A joint statement released on Thursday said both sides exchanged views in an 'open and constructive' manner to resolve the 'relevant issues' and that it was agreed to maintain 'security and stability' on the ground in the region.
The body a 16-year-old JEE aspirant, who left his hostel for a routine test on February 11 and went missing, was found on Monday night stuck between two trees on a rock in a forest area in Rajasthan's Kota, the police said.
At 37, Annamalai Kuppusamy, is the youngest president Tamil Nadu BJP ever had and he is the first to rise to the position in the state unit within a year of joining the party.
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
Despite the objections raised by Reserve Bank of India and Election Commission, India's politics has been funded anonymously and it is time to end this, asserts Aakar Patel.
The lack of clarity on who is next in line, when the time comes, as indeed it will one day some day, reflects poorly on the management of the world's largest political party. It scarcely need be said that a squabble between the contenders, Shah and Yogi, is exactly what the doctor ordered for the Opposition, notes Krishna Prasad.
The bulk of an investor's portfolio should be in shorter-duration funds of up to one year portfolio duration.
Over 4 mn bank accounts could be dormant, suspects tax department.
"During the Congress regime, the news headlines were of India handing over another dossier to Pakistan about terror activities. Some of our friends in media used to clap after such any such dossier was sent," Modi said at an election rally in Maharashtra's Latur.
The CFO will formulate the accounting policy of the bank, maintain the internal accounts and report financial results, and carry out corporate strategy functions like PF policies.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
A seasoned banker with over 30 years of experience, Bakhshi is a mechanical engineer from Punjab Engineering College, Chandigarh. He has a post-graduate degree in management from Xavier Labour Relations Institute.
Prime Minister Narendra Modi owns assets worth over Rs 2.23 crore, mostly as bank deposits, but has no immovable properties as he has donated his share in a piece of land in Gandhinagar, according to his latest disclosure about assets.
Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
With this, 85 officers, including 64 high ranking ones, have been compulsorily retired.
As more companies ask their employees to return to office after the pandemic, the share of women employed in regular salaried jobs in urban India decreased from 54 per cent in the first quarter to 52.8 per cent in the second quarter of the current financial year, according to the quarterly Periodic Labour Force Survey (PLFS) data. The slump in the share is the lowest in wage employment in any quarter in the last six years when the National Statistical Office started releasing the quarterly PLFS surveys in Q3 of FY19. The share of women in wage work was highest in Q1 of FY21 at 61.2 per cent.
The Maharashtra cabinet on Thursday cleared a proposal that offers an option of availing the Old Pension Scheme (OPS) to the state government employees who joined the service after November 2005.
Khara will replace SBI Chairman Rajnish Kumar, whose three-year term comes to an end on October 7.
Lamichhane, who is currently out on bail -- an order released by the Patan High Court -- was arrested in November 2022, after a 18-year-old girl alleged that he raped her in a hotel room in Kathmandu in August 2022.
Income-tax payers fear they will receive notices from the government because the annual information statement (AIS) provided by the I-T department in many cases is showing incomes in excess of their earnings. The Central Board of Direct Taxes (CBDT) has dismissed these fears as unfounded. The deadline for filing income-tax returns (ITRs) for the assessment year 2022-23 ended on July 31.
Prohibitory orders were imposed in parts of Ranchi city after some policemen, including an Indian Police Service officer, and others were injured in Ranchi on Friday while trying to control a mob near a temple, an official said.
Rajasthan is all set to vote on Saturday to elect members of a new assembly with the Bharatiya Janata Party aiming to unseat the ruling Congress, which is fighting hard to change the trend of alternate governments in the state.
While its deposits from Iran accounts have come down from a peak of around Rs 25,000 crore to Rs 2,200 crore, it's been offset by the bank receiving almost Rs 24,000 crore in deposits post note ban.
Anticipating panic and rush at bank counters, the Reserve Bank of India as well as the government has set up control rooms in Mumbai and the national capital to avoid any crisis, Department of Economic Affairs Secretary Shaktikanta Das said.
Dhillon told reporters that IPS Section 304 slapped against the Nihang could be converted into Section 302 (murder) following further investigation.
The central bank has not set a deadline for banks to conclude the stress-test exercise, but senior bankers opine that some were already looking at this, and will now fast-track it by September-end, when they will have a better picture of their books after the moratorium on the servicing of loans and a 180-day view on the performance of borrowers' accounts.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
Fear of the disease has affected the way employees commute, the number of coffee breaks they take, and even their conversations with colleagues. Does a restricted environment affect the spirit of interaction and collaboration that offices are meant to inspire, wonders Ranjita Ganesan.
A senior official serving in the ministry of external affairs was robbed of his official laptop, passport and other valuables after unidentified men broke his car's window pane when he tried to help a person lying unconscious on the Aurobindo Marg in south Delhi, the police said on Tuesday.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
To stop repeat money exchangers thronging banks with invalid currency notes, banks have started applying indelible ink mark on the right hand index finger of customers in the select metro cities.
The Centre on Wednesday announced a raft of post-retirement employment possibilities for 'Agniveer' like priority in recruitment to the central armed police forces (CAPF) and Assam rifles but that failed to assuage the concerns of the opposition Congress which warned the 'transformative' 'Agnipath' scheme will reduce the operational effectiveness of the armed forces.
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