The India Banks Association (IBA) has shown its discontentment to RBI on Saving Rate Deregulation. RBI had recently in May increased the rate of interest to 4% from 3.5% on money lying in the Saving Bank Accounts to be calculated on a daily basis. The IBA contends that already RBI has increased the base rates [...]
The government has provided free software for downloading the rupee symbol which was designed by Bombay IIT post-graduate D Udaya Kumar and was approved by the government in July last year. The rupee symbol is a blend of the Devanagri ‘Ra’ and Roman ‘R’ and presently is not available on the keyboards. The symbol is...
Recently CBDT exempted salaried class employees having income below Rs 5 lacs from filing their returns, later another statement came that Income tax department is after big fish and thus salaried employees would be generally exempt from scrutiny. Now more relaxing news for the tax payers as due to shortage of staff it is likely [...]
There is another reason for cheering for Auditors and more compliance cost for companies. The statutory auditors of all listed companies and also unlisted firms with a paid-up capital of at least Rs 5 crore or those with turnover of Rs 100 crore and above have more news to cheer about. The Ministry of Corporate [...]