In an online chat with Rediff.com readers, G Srikanth, partner, GSV Associates, chartered accountants, Chennai and member of the Institute of Cost and Management Accountants, answered queries about the new income tax proposals mooted in the Union Budget 2020-2021.
According to an Election Commission statement, the two have decided not to avail exemption from income tax on sumptuary allowance and to surrender two of the three Leave Travel Concessions (LTC) available each year.
A few state-owned banks such as IDBI Bank, Union Bank, Indian Overseas Bank have announced results for FY14.
Says GDP growth rate from 2014-15 to 2015-16 will be greater than that of 2014-15 from 2013-14
Many users did not know that their entitlement was not coming to their regular bank account but going to an account which they had not applied for.
The government is determined to stop generation of black money, he said.
The Supreme Court on Monday said that it will hear on March 17 pleas dealing with two separate issues of alleged 'fraudulent conversions' and challenge to various state laws on religious conversions due to interfaith marriages respectively.
The Finance Ministry on Thursday expressed hope that domestic diesel prices will soon become market linked in the backdrop of softening global crude oil rates.
Telecom and IT Minister Ravi Shankar Prasad said one of the primary focus areas of Digital India is Pillar 5: eKranti - electronic delivery of services.
Deduction on home loan interest cannot be claimed when the house is under construction
She charged the government with profiteering at the expense of the people, saying its duty was to help them in times of crisis and not make profits out of their hard-earned money.
The government had last year excluded those with an annual income of more than Rs 10 lakh from LPG subsidy
Family members of people who committed suicide within 30 days of being diagnosed with COVID-19 will be entitled to Rs 50,000 ex-gratia assistance as per the guidelines, the Centre told the Supreme Court on Thursday.
"There have been discussions on implementing UBI in J&K -- not just as a pilot in some districts, but in the entire state, according to Drabu's proposal in the state's Budget," said an official. "Finance Minister Arun Jaitley is also supportive of the idea. A presentation will now be made at the PMO."
Policymakers should consider the challenges of beneficiary identification, distributor opposition and beneficiary financial inclusion.
Without directly referring to the farmers' agitation, which entered the 17th day on Saturday, Modi said agriculture reforms as part of government efforts are aimed at removing roadblocks, and the new laws will also bring in technology and investment in the sector.
About half of the students, who have been affected by the war, have taken admission to universities in other countries.
Swift gains on Dalal Street this year have also led to a sharp surge in shares of equity market intermediaries like depositories, exchanges, and registrar and transfer Agents (RTAs). The stock prices of BSE, CDSL, CAMS, and KFin Technologies are up 24-283 per cent so far in 2023 when compared to a 9 per cent rise in the benchmark Nifty index. With the market buoyancy expected to keep up the pace, analysts believe these stocks are a good long-term bet despite the sharp rally, which can trigger an intermittent correction.
The ATRs have been sought on a range of matters within four weeks, the officials said.
The two states account for 24% of total accounts opened under financial inclusion scheme.
Billionaire Mukesh Ambani on Tuesday hinted at rolling out 5G telecom services in the second half of 2021 and said policy steps are needed to accelerate the early rollout of ultra-high-speed 5G services that are affordable and available everywhere. Ambani, whose four-year-old telecom venture Jio has captured the No.1 spot offering free voice calling and data at dirt-cheap rates, also pitched for developing hardware manufacturing in India, saying the nation cannot rely on imports in such a critical area. 5G is the 5th generation mobile network that enables connecting virtually everyone and everything together including machines, objects, and devices. India, he said, is today among the best digitally connected nations in the world.
Is it a case of poor targeting of a welfare scheme, or is it a reflection of the government's desire to expand the scope of this benefit to secure greater electoral dividends? asks A K Bhattacharya.
Led by the country's largest lender State Bank of India, banks have opened over 3 crore basic accounts within a fortnight of the launch of the scheme on August 28.
Spending continues to be less as people who are getting direct benefits from the government are choosing to save in the current situation.
'Digital India' initiative has a huge potential, he said.
Modi said the country needs to increase domestic output of energy.
As many as 24.27 crore accounts have been opened under the scheme and the percentage of zero balance has come down to 24.43 per cent
A look at the key decisions taken by the Narendra Modi government in its six months.
The Supreme Court Thursday appreciated the Centre's step to grant ex gratia assistance to the kin of those who died due to COVID-19 saying it has to take judicial notice of the fact that what India has done, no other country has been able to do.
Department of Financial Services is regularly emphasising the early issuance of RuPay Debit Cards, e-KYC based account opening, Aadhaar seeding, financial literacy and the progress in survey made.
Asserting that the self reliant India programme will help revive the global economy, Prime Minister Narendra Modi on Thursday told global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security. Addressing the World Economic Forum's online Davos Agenda Summit, where he also interacted with global business leaders, Modi also said India offers a predictable and friendly environment from tax regime to FDI norms. He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country's digital profile has been completely transformed.
"The Congress believes in the politics of appeasement and dynasty, whereas BJP follows politics of performance," Shah said.
It is widely believed that Nandan Nilekani's meeting with Prime Minister Narendra Modi saved the ambitious Aadhaar project from oblivion or a takeover by the home ministry.
The Bharatiya Janata Party may further delay the announcement of Gujarat Chief Minister Narendra Modi as the party's Prime Ministerial candidate till the assembly elections to Delhi, Madhya Pradesh, Chhattisgarh and Rajasthan are over.
Prime Minister Narendra Modi on Saturday inaugurated the 6th India Mobile Congress at Pragati Maidan in Delhi and launched 5G services. The 5G telecom services seek to provide seamless coverage, high data rate, low latency and highly reliable communications system. The three major telecom operators of the country demonstrated one use case each in front of the prime minister to show the potential of 5G technology in India.
Can welfare schemes truly transform from being flagship to flag-bearers for a government that is looking to get a second term in 2019?
In a setback to former deputy chief minister Manish Sisodia, the Supreme Court on Monday denied him bail in the corruption and money laundering cases related to the alleged Delhi excise policy scam, saying the accusation of "windfall gains" of Rs 338 crore to wholesale liquor dealers was "tentatively supported" by evidence.
The Centre will soon write to the states to bring uniformity in the Value Added Tax on oil products so that benefits of price cuts filter down to the masses.
The biggest problem is that those with Aadhaar numbers aren't coming forward for seeding these with bank accounts.
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