Finance Minister Arun Jaitley on Tuesday said that the small traders and businessmen will have over 30 per cent tax advantage if they carry out their transactions through digital or cheque modes. The government on Monday amended Section 44AD of the income tax rule to offer this benefit to small[Read More…]
Tag: Noteban
RBI has enough cash to last beyond Dec 30, says Jaitley
Finance minister Arun Jaitley on Tuesday assured that the Reserve Bank of India has more than adequate cash for circulation to last not just December 30 but even beyond it. “We were prepared. There has been no day when RBI did not dispense adequate cash to banks. Even today, RBI[Read More…]
Rs 2000 notes to be phased out in 4-5 years, says S Gurumurthy
Here is a bad news for people thinking of hoarding the new Rs 2000 currency notes. At a time when the opposition is attacking the government for introducing the Rs 2000 currency notes after demonetisation, a view has emerged that the new high denomination note may not have a long[Read More…]
Cheaper fuel, train tickets on digital transaction, says Arun Jaitley
To promote cashless transaction, Finance Minister Arun Jaitley on Thursday announced various discounts on digital payments on purchase of fuel and train tickets. Petrol, diesel purchases Arun Jaitley announced a 0.75 per cent discount on purchases of petrol and diesel (at Central Government Petroleum PSUs) using credit or debit cards,[Read More…]
Despite cash crunch, RBI leaves repo interest rate unchanged
Despite the possibility of growth being impacted due to the crippling cash crunch since the currency ban, the Reserve Bank of India (RBI) on Wednesday left the main repo interest rate unchanged at 6.25 per cent, to keep inflation in check. The repo rate is the interest rate at which[Read More…]
Demonetisation: Indian services output shrinks
Indian services activity contracted in November dragged demand lower after dmonetisation , a private survey showed on Monday. The Nikkei India Services Business Activity Index slumped to 46.7 in November from October’s 54.5, data compiled by IHS Markit show. This is the first contraction since June 2015 and the sharpest[Read More…]
Women delivers baby in bank queue at Kanpur
It may sound bizarre but it is true that a woman delivered a child while standing in a queue to withdraw cash in front of Punjab National Bank in Jhinjhak area of Kanpur Dehat district. Women customers helped Sarvesha Devi, a resident of Sardarpur Ke Majra Shahpur Dera, deliver the[Read More…]
With close to ₹977 cr, BJP leads the list of parties with unknown income
BJP has topped the list of political parties receiving donations from unknown sources between 2013 and 2015, data from the Association for Democratic Reforms has revealed. Section 29C of the Representation of People Act, 1951, mandates that all donations made to political parties by any individual or company in excess[Read More…]