The first major devaluation of the rupee happened in 1966 when it was pegged against the US dollar at Rs 4.75/$
Within the next two years, verification and scrutiny of returns will happen electronically through anonymised back offices manned by tax experts and officials. It will function without any personal interface between taxpayers and tax officers. Both the taxpayer and the tax officer will not know each other -- who is scrutinising whose return, and at which place, points out Kuldip Kumar, partner and leader personal tax, PwC.
The Indian Staffing Federation says their demand assumes significance as the formal sector will grow after demonetisation and the segment will play a crucial role in that.
Finance Minister P T R Palanivel Thiagarajan has proclaimed his determination to set Tamil Nadu's fiscal house in order in five years, and Friday will show how he plans to go about it when he rises to present the Stalin government's maiden budget, says N Sathiya Moorthy.
If the spouse is the guarantor of husband's business loans, banks can hold her liable for default. Here are ways to ring-fence her assets.
If you're a salaried person there are many ways to save taxes
'You should be able to juggle them, extract the most rewards out of them, and most importantly, be able to repay your dues on time.' 'However, you shouldn't try to get multiple cards at once,' advises Adhil Shetty, CEO, BankBazaar.com.
In the broader markets, BSE Midcap index slipped 0.3% whereas the BSE Smallcap index inched up by 0.2%
Instead of a consumption stimulus the government must address the NPA issue with a war footing and invest in infrastructure, affordable housing and exports, says Sanjeev Nayyar.
'The history of Moody's India ratings tells its own story,' points out T N Ninan.
The Indian rupee slumped to a record low near 69 to the dollar on Wednesday on growing worries that foreign investors will continue to sell out of a country facing stiff economic challenges and volatile global markets.
The Payment of Gratuity (Amendment) Bill and The Specific Relief (Amendment) Bill passed amid din.
The order said the NGO has transferred an amount of Rs 2.46 lakh from its foreign contribution designated account to Sabrang Trust domestic account, thus mixing of domestic and foreign funds and violating the rules.
With unlimited youthful energy, a capacity to earn more and wonderful years ahead of them, students definitely need to learn about handling money matters early in life. Here's a good starting point
While Vodafone will hold 45.1% of the shares in the new entity, to be renamed at a later stage, Kumar Mangalam Birla and other promoters of Idea group will hold 26%. Vodafone India will also transfer 4.9% of its shareholding to Idea's promoters for a cash consideration of Rs 38.74 lakh crores.
Daily wage earners and casual low income group workers were the worst affected
The Sensex will then rally further and end 2016 at 28,000, according to the median forecast of 50 analysts polled in the past week.
Thanks to Budget 2018, seniors can invest more and also save more.
India has 20,000 tonnes of idle gold; gold is an important aspect of women empowerment: PM.
The persistence with Aadhaar, to the exclusion of all other identity systems, is a dangerous path and should be avoided if the risks of digital vulnerability are to be eliminated. Till such time that the ownership of the Aadhaar system is transferred to an independent body, concerns over Aadhaar's digital vulnerability will persist, says A K Bhattacharya.
Looking to raise funds to ensure release of its chief Subrata Roy from jail, Sahara has sold a big land parcel at the outskirts of the national capital for Rs 1,211 crore to Gurgaon-based developer M3M India Ltd.
'If standing in a bank or ATM line is a test of patriotism, why is not a single leader standing in that queue too?'
'The government's principal aim should be to reduce the volume of cash transactions.' 'That would bring more of the Indian economy within the purview of taxation.' 'The current downturn in economic activity due to a lack of adequate cash is likely to be limited to a year,'
Sahara told the top court this week it was considering other proposals to raise funds, including selling a luxury development outside Pune.
Underscoring the need to boost the start-up ecosystem, the Reserve Bank on Tuesday said it will simplify rules and regulations which impede their growth and ensure that an entrepreneur does not have to run from "pillar to post" to start a business.
The fact that the US dollar has become the world's preferred reserve currency is now the core of global financial crisis, says Mohan Guruswamy.
Housing prices could drop by up to 30% over 6 to 12 months after demonetisation.
Experts believe it can touch 63 against the dollar
IMF chief Christine Lagarde has been put under formal investigation by French magistrates for alleged negligence in a political fraud affair dating from 2008 when she was finance minister.
Amendments to RBI Act likely soon
Action against auditors, last of the 276 recommendations of a JPC probing Ketan Parekh scam, is still pending.
From July 1, retail investors can offer stocks through exchanges for de-listing, buyback and open offers
Demonetisation should be judged to have delivered some immediate gain if at least around Rs 2 trillion gets immobilised.
Though inflation, on the basis of the wholesale price index, is nowhere near the 1990-91 level of 10.26 per cent and India is in a much better position to check it, the greater integration of our economy with the globe has exposed it to a much higher risk of imported inflation.
Harassment, corruption and the burden of compound interest for years are also the reasons.
Well then, what did DeMo achieve? As predicted by most economists, the volume of transactions fell, economic activity was adversely impacted, and some sectors (which were more dependent on cash transactions) witnessed greater disruption than others, says Rahul Khullar.
'Against the backdrop of difficult administrative, political and economic problems, Imran's temperament and staying power will be the subject of intense expectation and public scrutiny,' says Rana Banerji, who headed the Pakistan Desk at the Research and Analysis Wing, India's external intelligence agency.
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
'Make cash available now, don't put people into suffering.' 'You should not come to a situation where the operation was successful and the patient is dying.' 'What did not happen in India for several years, you cannot do in 50 days.' 'This is agony and pain.'
