TAN or Tax Deduction and Collection account number is a unique ten digit alpha-numeric number required to be compulsorily obtained by all persons who are responsible for deducting or collecting tax at source on behalf of Income Tax Department. Section 203A of the Income tax Act, 1961 makes it mandatory to quote TAN in all(…)
News, Analysis & Opinion about Indian Business
1. Interest on RBI 8% Savings Bonds, 2003 though taxable was till now exempted from TDS since they are Govt. securities. Effective 1.7.2007, any interest over Rs 10,000 in a financial year from such bonds would be subject to TDS @ 10%. 2. The threshold limit for deduction of TDS by banks and cooperative(…)
Merchants and advertisers send RupeeMail to recipients like you to seek your attention and actively reach out to you to buy their products and or services. RupeeMail can only be sent to recipients who have explicitly agreed to receive RupeeMail by either registering at the RupeeMail website or permitting a specific sender to send email to them.
You can watch live streaming TV programs from your satellite TV set top box on multiple TVs, computers or mobile phone via the Internet. HAVA from Monsoon Multimedia and Slingbox could be in India soon to work with your Tata Sky or Zee Dish TV DTH Connection.
With the government contemplating amendments in the pre-independence enacted Indian Trust Act, 1882, the trusts will have greater flexibility with their investment decisions. According to present law, registered trusts can invest their resources either in securities notified by government or prescribed by the trust’s charter or under a high court ruling. The investment options prescribed(…)
The Finance Ministry is busy drafting the new Direct Tax Code which would be tabled in the winter session of Parliament. The new Code would make it mandatory to pay Wealth tax alongwith Income tax. There would be a combined form for payment of both taxes together. Wealth tax is levied on individual, HUF and(…)
It seems that the first round of battle against modern retailers and small traders seems to be won by the latter. And to bear the brunt is India’s largest company, Reliance Industries which is aspiring to become India’s largest retail company through its subsidiary Reliance Retail. After being forced to close down it stores in(…)
The diktat has worked yet again. Much after opposing entry of foreign retailers, the UP Government has now decided to shut down all organised retail outlets that operate outside malls. As a consequence all Reliance Fresh and Spencer retail stores are closed in the state with immediate effect. It is simply incomprehensible, and goes beyond(…)
You can use various Google Tools and Services to improve the visibility of your business on the web – Get more search traffic or convert site visitors into paying customers using the services of Google.
Sub prime lending, also called ‘B-Paper’, ‘near-prime’ or ‘second chance’ lending, refers to the practice of making loans to borrowers at interest rates above the prevailing market rates because of their low credit status and increased risk due to either a limited credit history, or histories of payment delinquencies, charge-offs or bankruptcies. Sub prime lending(…)
Being the pioneer in Indian retail space, Kishore Biyani’s Future Group is tapping an unconventional and unexplored but highly potential target market of urban slums. The group recently launched KB’s Fair Price Shops in Delhi and would expand the concept initially in top 8 metros. In most likelihood, the stores in urban slums would be(…)
icicibank.com ICICI Bank Internet Banking – tips for secure internet banking. ICICI sends out these ‘Safe Banking’ tips to its customers through monthly and quarterly Account and Credit Cards statements.
As Wal-Mart and Bharti gives touches to their deal and bring in modern global business practices to India, one can hope to get “everyday lower prices” as has been the motto of the American giant. The retailers would undoubtedly be benefited by Wal-Mart’s lower cost model but even the Indian consumers may see some indirect(…)
After bringing out Ramayan 3392AD, a comic in late 2006, Virgin Comics is bringing out an online video game based on the mythological epic in partnership with Sony Online Entertainment. The game would be available worldwide and would be a massively multiplayer online (MMO) game capable of simultaneously handling thousands of players online, and would(…)
Tour operator Cox & Kings has picked up a mountain in the Lungern-Schonbuel belt of the Swiss Alps in Central Switzerland on long-term lease. The mountain is branded Mt. Cox & Kings and is targeted to Indian visitors. It offers range of activities including skiing, Swiss folk dances, chocolate making, walking trails and glacier rides.(…)
The IT department is on a keen drive to increase tax collections and curb black economy. As per reports, a proposal is under consideration whereby tax exemption on long term capital gain would only be restricted to investments made in shares of companies constituting the BSE-500 index. Presently, exemption u/s10(38) is allowed on long term(…)
A SEBI committee has come out with proposals for launch of Dedicated Infrastructure Funds (DIFs) by mutual funds. It has proposed additional tax exemption of Rs.1 lakh for investing in DIF but with a 7 year lock in period. Also, capital gains arising on account of the transfer of long-term capital assets may be exempted(…)
Where Is a good place to eat around here? Find a comprehensive dining guide with cuisines and restaurant reviews.
The rising gold prices have fancied investors attention and is being increasingly looked on as an part of portfolio. After Gold ETFs , now there is option for investing in DSP Merrill Lynch World Gold Fund which invests in gold mining companies internationally. This is an open ended fund of funds scheme, and is unique(…)
Modus Operandi of Income Tax Scrutiny The main objective of the IT officer during scrutiny is to make sure that the income shown in the return is real and there is no tax evasion. The expenses incurred are also scrutinised to find out whether they are actually incurred and are not fictitious. For this, the(…)