Dec 13, 2014

Condition for claiming deduction of interest on loan against income from house properrty

Conditions for Claim of Deduction of Interest on Borrowed Capital for Computation of Income From House Property [Section 24(b)]: Sectio...

Dec 12, 2014

TDS on salary relief when salary paid in arrears or advance

Relief When Salary Paid in Arrear or Advance: 3.4.1 Under section 192(2A) where the assessee, being a Government servant or an employee ...

Dec 11, 2014

TDS on salary for FY 2014-15 circular dated 10 December 2014

CBDT issued a circular no. 17/2014 dated 10 December 2014 about TDS on salary during the financial year 2014-15 u/s 192 of income tax act....

Dec 5, 2014

Bank is liable for ATM fraud withdrawl

There are instances of unscrupulous bank officials defrauding depositors. Here is a case of how Bank of India officials violated all banki...

Limit of pre paid payment instruments has been raised to 1 Lakh

Reserve Bank of India has raised the limit of pre paid payment instruments from 50000 to 100000. RBI issued a note no. 980 dated 3 Decembe...

Nov 27, 2014

Modified DBTL scheme for LPG Gas cylinders

 The DBTL scheme was earlier launched on 1st June 2013 and finally covered 291 districts. It required the consumer to mandatorily have an ...

RBI make more easy to take loans for low cost home

Reserve bank of India make more easy to take home loans for low cost home as allowed banks to extend loans against long term infrastructur...

Nov 24, 2014

RBI put some conditions only with banks charge minimum balance charges

Reserve bank of India put some conditions on banks with only banks can charge minimum balance penalty on non maintenance of minimum balanc...

Banks will charge more for using ATM from December

Banks will charge more for ATM withdrawal or checking your balance at ATMs from 1 December 2014. The free limit is limited to 5 in own ban...

Nov 21, 2014

TDS statement filed for Q1 but not filed Q2 FY 2014-15-TRACES

As per the records of the Centralized Processing Cell (TDS), you have filed TDS Statements for Q1, FY 2014-15, however, no TDS Statements ...

Nov 20, 2014

Now you can deposit and withdraw money from same ATM machine

AXIS Bank announced launch of smart terminal which can be used both to deposit and withdrawal of money like ATM. This smart terminal is se...

Reasons why you should not invest in Kisan Vikas Patra KVP

Finance Minister Mr. Arun Jaitley re launched Kisan Vikas Patra after the discontinue it earlier. Kisan Vikas Patra gives annualized retur...

Nov 19, 2014

Features of latest relaunch of Kisan Vikas Patra

Government of India has relaunched Kisan  Vikas Patra which is the small saving scheme which was discontinued earlier hoping to lure inves...

Custom duty drawback rates for all industries effective from 22 November 2014

Custom department revised all industries custom drawback duty rates. These rates are effective from 22 November 2014. Custom department is...

Central excise clarification about availment of CENVAT credit after 6 monts

Central excise department issued a clarification regarding availment of CENVAT credit after 6 months with a circular no. 990/14/2014 dated...