The government today removed the 1% tax on cash purchases above Rs 2 lakh, after putting a limit on transactions.

The government wants to tighten even further the proposed Budget measure aimed at discouraging black money through restrictions on cash transactions to Rs 2 lakh from Rs 3 lakh.

Centre will abolish 16 cesses and surcharges on union excise and service tax as it lays down the path for rolling out Goods and Services Tax (GST) from July.

The U.S. government is temporarily barring passengers on certain flights originating in eight other countries from bringing laptops, iPads, cameras and most other electronics in carry-on luggage starting Tuesday. The reason for the ban was not immediately clear. U.S. security officials would not comment. The ban was revealed on Monday in statements from Royal Jordanian … Continue reading “US indefinitely bans electronics on non-stop flights from eight countries”

Government will amend EPF scheme to enable around 4 crore members of retirement fund body EPFO to withdraw up to 90 per cent of their fund for making down payments while buying homes

Five cities across the country with diverse geographical and climatic conditions will be the first to start using plastic bank notes of rs.10 denomination, with the Centre approving a field trial. The notes are considered to be cleaner than paper currency, will last longer and are difficult to counterfeit.

Center today increased dearness allowance and dearness relief to 4% from existing 2% from January 1, 2017, benefiting 48.85 lakh employees and 55.51 lakh pensioners.

The Government of India notified the Specified bank Notes (Cessation of Liabilities) Act, 2017 in the Public interest for the cessation of liabilities on the specified bank notes and the matters connected therewith or incidental thereto.

Reserve Bank of India (RBI) on 13/03/2017 lifted all restrictions on cash withdrawals from savings bank accounts imposed on November 8, 2016 after the withdrawal of Rs 500 and Rs 1,000 notes.

Demonetization is a generations memorable experience and is going to be one of the economic events of our time. Its impact is felt by every Indian citizen. Demonetization affects the economy through the liquidity side. Its effect will be a telling one because nearly 86% of currency value in circulation was withdrawn without replacing bulk … Continue reading “IMPACT OF DEMONETISATION ON MACROECONOMIC”

Affordable houses may soon be exempt from stamp duty, which varies between 4% and 8% of the transaction value

Non-resident Indians (NRIs) their passports to enter Reserve bank of India to exchange their demonetised currency notes. (NRIs) visiting India, especially for a short visit, to their native places are finding it difficult to exchange the demonetised currencies of ₹1,000 and ₹500 notes, as these notes can be exchanged only at RBI offices in Mumbai, … Continue reading “Striving of NRIs in Exchanging demonetised notes”

The railways will soon move towards Aadhaar-based online ticketing system to prevent touts from blocking bulk tickets, end fraudulent bookings and curb cases of impersonation.

Section 391(2) of the Companies Act, 2013, states that the provisions of Chapter XX shall apply mutatis mutandis for closure of the place of business of a foreign company in India as if it were a company incorporated in India. Regarding the same, some clarification was demanded by stakeholders. The matter has been examined in the Ministry … Continue reading “Clarification for Section 391(2) closure of place of business by a foreign Company in Companies Act”

Nearly 500 members of various outfits were arrested here today when they attempted to stage a demonstration against Prime Minister Narendra Modi during his visit to unveil a 112-foot Adiyogi face at the Isha Yoga centre. Some black balloons were also released into the air by a section of the protesters as Modi was travelling to the venue near here … Continue reading “Nearly 500 people arrested for staging demo against PM”