Money

Maharashtra mulls Swiss challenge method for floating solar projects

    Mumbai Maharashtra Government is mulling adoption of Swiss challenge method to finalise a bidder to set up floating solar plants across various reservoirs and water bodies in the State.The Swiss challenge system, is one whereby any per..

GST Council asks Centre, States to quickly set up appellate authorities

  New Delhi, As per the law, all States are required to set up at least one AAR for seeking advance ruling over GST levy and one appellate authority to hear appeals against the AAR order The GST Council has asked the Centre and States to expedit..

Taxation of Rental Income - The Basics

  Of all taxable incomes, perhaps tax on rental income is most complicated as this is the only income that the Income Tax Act (ITA) taxes on a notional basis. In other words, the incidence of tax is based not only on the income earned from th..

Goldstone-BYD eyes expansion in India, to add 10,000 jobs

  SHENZHEN ELECTRIC bus manufacturer Goldstone Infratech on Sunday said it plans to create up to 10,000 jobs in India in the next five years and will soon set up a joint venture firm to cater to R&D and after sales service facilities. The co..

‘Biggest challenge is to keep builders compliant of law’

  MUMBAI AS THE Real Estate (Regulation and Development) Authority Act completes one year of implementation, the biggest challenge is to keep the builders compliant of the law, said Maharashtra RERA Chairman Gautam Chatterjee.Maharashtra was the..

India’s GDP expected to reach USD 5 trillion by 2025: Secy

  Washington, (PTI), India is poised to remain the fastest growing large economy in the world and its GDP is expected to reach USD 5 trillion by 2025 as the economic reforms adopted in the last few years have started to bear fruit, a top Indian..

New Income Tax Return Forms

  For the purpose of filing the income tax returns for FY 17-18, the Income Tax Department has issued seven types of ITR Forms for different classes of taxpayers. The new ITR Forms shift the onus on the taxpayers to prove their claim for deduction..

MSI’s Super Carry sales jump 10-fold

    NEW DELHI MARUTI Suzuki India (MSI) is quietly gaining presence in the light commercial vehicle (LCV) space with its Super Carry mini-truck registering over ten-fold jump in sales in 2017-18. The company, which launched Super Carry in ..

CAs, CS, valuers may face penalties from Sebi

  NEW DELHI CHARTERED accountants, company secretaries, cost accountants and valuers may have to forfeit their fees and face penalties if they are found lacking in their dealings with listed firms, according to a new set of norms being considere..

31st March - Last chance to file Income Tax Return for FY 2015-16 and 2016-17

  The due date for filing the income tax return for the FY 2016-17 in case of Taxpayers not covered by audit provision was 31st July. For taxpayers who required to get the books audited & for companies, the due date of filing the income tax re..

The case for ELSS funds: Get paid to save tax

  Its time for us to repeat our annual article dealing with tax saving. Last year, at exactly around this time, we had written this piece and all those who did invest in ELSS are today reaping the benefit. So for this year, here goes. We are in th..

PUTTING RISK IN PERSPECTIVE

  One of the primary aims of the investor is to ensure that the invested capital remains reasonably safe. We are using the word ‘reasonably’ and not ‘absolutely’ with a very good purpose. A prudent investor realises the tru..

Air France-KLM, Delta, Jet Airways, consortium to bid for Air India

      NEW DELHI,  A CONSORTIUM of Jet Airways, Air France-KLM and Delta Airlines understood to have expressed interest in the disinvestment of national carrier Air India, according to sources.Moving ahead with the strategic disi..

4.4 lakh unsold homes in seven big cities at 2017 end: JLL India

  New Delhi, As many as 4.4 lakh housing units were unsold in seven major cities at the end of 2017 with Delhi-NCR contributing maximum at over 1.5 lakh flats, property consultant JLL India said.The consultant expects high level of unsold invento..

REVERSE MORTGAGE - A BOON FOR SENIOR CITIZENS

  In the wake of ever-rising prices of real estate, many senior citizens find themselves trapped in staying in a palatial house but their pension and interest incomes are hardly sufficient to look after their daily necessities, including the ever-..

Govt may allow only commercial mining of coal in future: Secy

  New Delhi,  The Government may in near future scrap the present system of allocating coal mines for captive use and instead only auction mines for commercial use to private as well as foreign companies with a view to boost domestic produc..

Maharashtra Govt to digitise private vegetable markets

Mumbai,  The Maharashtra Government has decided to digitise the functioning of private wholesale vegetable markets for better transparency and to prevent farmers from being cheated while selling their produce. The Centre had earlier launched a pa..

Real estate back on recovery path: Survey

  Mumbai, With the real estate market beginning to adjust to various reforms like demonetisation, GST and RERA, most Indian metros witnessed recovery with sales improving, while property prices corrected or maintained status-quo, a survey said.Ac..

BUDGET 2018 - HOW DOES IT AFFECT US

    The following is a snapshot of the key Budget 2018 provisions.Capital Gains Makes A Comeback (Of Sorts)!We start with the big bang measure in Budget 2018 – that of reinstating the long-term capital gains tax regime.As per the pro..

RIL’s KG-D6 gas fields Q3 production drops to 4.9 mmscmd

  NEW DELHI, RELIANCE Industries’ eastern offshore KG-D6 gas fields have seen production plummet to the lowest level of 4.9 mmscmd in the third quarter of the ongoing fiscal.Natural gas production from Dhirubhai-1 and 3 (D1&D3) gas fiel..

Floor price for onion exports reduced by USD 150 a tonne

  New Delhi, The Government has reduced the minimum export price (MEP) of onion by USD 150 per tonne with prices of the kitchen staple moderating. The MEP for onion, the floor price below which exports are not allowed, has been reduced to USD 700..

Law panel to suggest rules to control online betting

  NEW DELHI, THE Law Commission is set to recommend a series of regulations to control illegal online betting in India, including one which allows a person to place only three bets a year.A senior functionary of the commission, quoting a ‘w..

Experts see momentum in co-working spaces

  MUMBAI, The momentum gained by co-working spaces in 2017 is likely to continue this year as well as large corporates look at consolidating businesses to maximise their productivity, says experts. Co-working, also known as alternative workspace..

Cellular association seeks talks with TRAI on results of new call drop norms

  New Delhi, Cellular association COAI has said telecom regulator TRAI must meet players to discuss the results of the new call drop norms, post December.The difficulties faced by telcos and outcome of the new stringent Quality of Service (QoS) f..

L&T’s Naik is original ‘Make-in-India’ man: Mukesh

  MUMBAI, DESCRIBING Larsen & Toubro’s non-executive Chairman A M Naik as a man with great vision, Reliance Industries Chairman Mukesh Ambani said he is the first and “original Make-in-India man”. “My association with ..

How to check bank balance without Internet on phone

  Banking facilities such as checking account balance, generating mini statements and fund transfers can all be done via a mobile handset without an internet connection. Read on to know how. Despite India being in the midst of a mobile and intern..

Financial Planning For Homemakers

  Anju’s husband Harish gives her a lump sum of Rs 20,000 to run the house on a monthly basis. This money is used to cover the family’s living expenses, buying groceries, paying utility bills and other such expenses. All was well until..

First Time Credit Card Users to note

  If you are using a Credit Card for the first time, always try to use its distinctive features to maximise the advantages. If you are the first-time Credit Card user, then huge financial benefits may not be far away. Credit Cards help you learn ..

Are Zero Percent Interest Schemes Really What They Say They Are?

  Zero per cent schemes do tend to have a big influence if you are someone looking to buy something, which otherwise would be well beyond your reach. You buy their theory of ‘zero percent finance’ and pay instalments which you strongly..

3 Ideas That Could Multiply Your Diwali Bonus

  It’s that time of the year when you may be sitting on a hefty Diwali bonus in your bank account. While it is indeed heartening to see the extra money in your bank account, many are unsure of how to put it to good use. The most important fa..

Watch out when using your credit card abroad

  You had been saving up for this wonderful trip to Europe and you finally made it! You spoilt yourself silly with more than an eyeful of Europe – some fine-dining and went a bit overboard with your shopping as well. You could afford some o..

Travel Budgeting

  What’s the first thing that comes to your mind as soon as you see a long weekend approaching? A holiday, right? You start planning weeks in advance just to get everything right. This includes looking for the best accommodation and flight b..

All About NEFT Fund Transfer

  There used to be a time not very long ago when sending money from one account to another, whether in the same city or another city, used to be a long and tiring process. It used to be an eternity before you could actually get the money to move...

Ways to nail those air ticket bookings

  By Steffi Dsouza, When it comes to travelling, buying an air ticket can be a mighty expense sans other things. It doesn’t matter if you’re travelling on business or for pleasure. You usually spend a significant amount on your Credit..

Interest on Saving Bank account up to Rs 10,000/- is eligible for deduction u/s 80TTA

  Section 80TTA provides for deduction of interest on deposits in saving account up to a maximum of Rs 10,000/- only. Interest received over & above Rs 10,000/- is taxable.   Query 1)1. During payment of income tax by challan on 29th Ma..

SENDING MONEY ABROAD? READ THIS FIRST

  The other day, we came across a person who wished to send some money to his son living in London, England. The son wished to open a restaurant there and was falling short of around Rs 25 lakh or roughly USD 40,000 capital. The father had the fun..

A journey towards a cashless economy can catalyse economic growth

  By Amitabh Tewary, India is experiencing a revolution in the payments space. The Government’s demonetization decision along with various other reforms have shown us how going cashless can make life easier. There is increasing competition ..

Bitcoin A Cryptocurrency & Beyond

  By Prof Saurabh Ratnaparkhi I n 2009, a global byproduct had been accouched in the world. To apperceive we may call it- a catalyst, a gift, a boon, or a catastrophic element of the digital world. It’s really knotty at first and highly horr..

Learn to live within your means

  I f you know how to live within your means, and find joy in it, well then, you have attained ‘financial nirvana’. Pat yourself on the back – you’re amazing! One of the biggest perks of living within your means is leading ..

Proper documentations & planning could lower tax incidence

  U/s 56(2)(x), if anyone purchases any immoveable property for an inadequate consideration (i.e., if the stamp duty valuation of the property is more than the actual purchase price) and the difference between stamp duty valuation and actual purch..

10 Mutual Fund MythsBusted

Mutual Funds are a convenient way of investing in the stock market and creating wealth. However, people often get carried away by the misconceptions revolvingaround them and refrain from exploring this investment instrument. In this article, we will bu..

Signs that your teenage kid is heading towards financial disaster

  Aug 2 By Ketki Herlekar Your babies mean the world to you but they could make you want to pull your hair out just as easily. Everybody knows it’s not an easy task to be a parent of teenagers, however new age and ‘cool&rsqu..